This Management Discussion and Analysis Report addresses the expectations and
Projections of the company for its future, about its Market Position, Market Development
and Penetration, Expenditure, Financial Results, Risks and Concerns etc. However, the
expectations shared herein are not limited to the Companys Growth. The Companys actual
results, performance or achievements could differ from those shared herein.
Along with this noticeable acceleration in the growth rate of the Indian economy,
Indias per capita income has increased at a rapid pace, levitating India into the
middle-income category thus strengthening the economy even further from its roots.
Simultaneously, the rising consumer demand has provided a further growth avenue for Indian
firms making the domestic economy more robust.
However, while the long-term story remains positive, there are challenges in the
short-term that will need to be addressed. These include high inflation, rising commodity
prices, all time high oil prices, increasing fiscal deficits, global uncertainties and a
variable domestic political scenario. However, given the structural shifts that have
already taken place across the economy, we believe that we today stand on a strong
foundation that will support sustained growth despite the short-term challenges that may
emerge time and again.
On the other hand, our Management declares that, the financial statements have been
prepared incompliance with the requirements of the Companies Act, 2013 guidelines issued
by the Securities Exchange Board of India (SEBI) and the Generally Accepted Accounting
Principles (GAAP) in India.
Capital Market
The Indian financial sector is demonstrating sustained momentum. In recent years,
reforms in the equity capital markets including continuous strengthening of the regulatory
environment by SEBI, market-determined prices and allocation of resources, screen-based
nation-wide trading, T+2 settlement, scripless settlement and electronic transfer of
securities, rolling settlement and derivatives trading have greatly improved the
efficiency of trading and settlement. The industry is also becoming more vibrant, with new
categories of products and services being offered to meet the needs of an emerging
economy.
In addition, the growth of the economy and Indian corporations has coincided with a
sharp increase in foreign direct investment, including significant participation from
private equity firms, a marked increase in investment in the real estate sector,
increasing M&A activity, strong equity IPO market and a growing demand for credit from
both corporations and consumers. With it, there has been a proliferation in the presence
of intermediaries such as investment banks and securities firms that closely monitor the
performance of the markets and provide extensive fundamental and technical research on the
economy, sectors and companies. All of this has contributed significantly to the growth of
the Indian capital markets.
Equity Market
The equity market comprising Private Equity, Primary Offerings and Secondary Offerings
has emerged as one of the most preferred mode of fund mobilization for India Inc. Real
estate, infrastructure, banking and financial services were the dominant sectors
attracting about 55% of the total private equity investments.
The Indian equity markets have witnessed a strong rally since 2014 with the benchmark
BSE Sensex crossing the 65,000 mark setting a historical high. Though the markets have
seen some correction since then, the underlying drivers for the market, viz. strong
domestic economic growth and growing corporate profitability remain intact, leading to
committed international and domestic investor interest.
Industry Overview
The Company with its full capacity is venturing in to the business of computer and
related services. The Company is carrying out business of business of providing
outsourcing services for all processes, sub Processes, transactions, activities and all
other work performed by business in various industries within India and across the world.
This includes those process or sub processes that are enabled by information technology.
It also includes data, voice or video collection and processing, call centre services
including in bound and out bound calling services of all kinds, technical support, managed
data centre, managed technical Centre, training centre, web support back office, business
or financial analysis, scientific analysis, research work and analysis, storage, disaster
recovery, accounting, pay roll, inventory management, customer relationship management,
enterprises resources planning and to develop software, provide consultancy, software
solution and services that are normally offered by the outsourcing business and
information technology services providers, the software development houses and application
services providers in India and abroad.
Outlook
We continue to remain optimistic about the long-term India story and the opportunities
that it will offer across sectors. The computer and related services sector is expected to
grow rapidly in an expanding economic environment. However, in the short-term from
time-to-time there will be challenges that will temper the outlook in the interim term.
The economic environment and the capital markets in India have done extremely well over
the last five years and some level of moderation is likely to take place in the short-term
given the current macro-economic trends in both domestic and international markets.
Human Resources
The Company recognizes that its people have played a big role in making what the
Company is today and therefore it accords top priority to attract and retain talent. The
Company puts great emphasis on training and development of its employees to enhance
efficiency. The Company believes in providing a fair compensation in line with industry
norms and rewards them for good performance.
Risk and Concerns
The company has in place a robust risk management framework with overall governance and
oversight from the Audit Committee and Board of Directors. Risk Assessment is conducted
periodically & Company has a mechanism to identify, assess, mitigate and monitor
various risks to key business objectives. Risk Assessment is a combination of bottom-up
and top-down view of key risks facing the business across all segments and functions. All
the risks were reviewed and assigned probability of materialization and potential impact
based on deliberations with business leaders and independent assessment. Mitigation plans
are designed, implemented and monitored on quarterly basis.
Internal Control System
The Company has an adequate internal audit and control system. The Internal audits are
conducted by firms of Chartered Accountants, ably supported by an internal team staffed
with qualified and experienced people. All operational activities are subject to internal
audits at frequent intervals.
The existing audit and inspection procedures are reviewed periodically to enhance their
effectiveness, usefulness and timeliness. The Company has a centralized Compliance
Department which ensures compliance with all the applicable laws. In addition, it provides
advice on general regulatory matters including formulating policies on prevention of
Insider Trading, etc.
Cautionary Statement
Statements in this Management Discussion and Analysis Report may be forward looking
statements: within the meaning of applicable securities laws and regulations. These
statements are based on certain assumption and expectations of future events. Actual
results could differ materially from those expressed or implied. Important facts that
could make a difference at Companys operations include economic conditions affecting
domestic demand and supply conditions, finished goods prices, changes in government
regulations and tax regime etc. The Company assumes no responsibility to publicly amend,
modify or revise any forward looking statements on the basis of subsequent developments,
information or events.
Distribution Schedule as on 31.03.2023
Distribution Schedule as on 31.03.2023 SHALIMAR AGENCIES LIMITED
DISTRIBUTION SCHEDULE AS ON 31/03/2023 (To be made out for each class of
security) CONSOLIDATED
T ota 1 Nominal Value Rs. 3, OO, 10,000. OO, Nominal Value Of Each S ha
re/Unit 10.00/ -
Total Number Of Shares/Units 3001000, Paid Up Value Per Sha re/Unit Rs.
10.00/- Distinctive No(s) From 1 TO 3001000
SL NO |
CATEGORY |
HOLDERS |
HOLDERS PERCENTAGE |
SHARES |
AMOUNT |
AMOUNT PE RCE NTAGE |
1 |
1 - 5000 |
521 |
93.87 |
32931 |
329310 |
1.1 |
2 |
5001 - 10000 |
7 |
1.26 |
5654 |
56540 |
0.19 |
3 |
lOOOl - 20000 |
7 |
1.26 |
S5S6 |
35360 |
0.29 |
4 |
20001 - 30000 |
1 |
0.18 |
2426 |
24260 |
0.03 |
5 |
50001 - lOOOOO |
2 |
0.36 |
16560 |
165600 |
0.55 |
6 |
100001 & Above |
17 |
3.06 |
2934793 |
29347930 |
97.79 |
|
T ota 1: |
555 |
100 |
3001000 |
30010000 |
lOO |
Shareholding Pattern as on 31.03.2023 is as follows:
| Category of shareholder |
No. of shareholders |
No. of fully paid up equity shares held |
Total no shares held |
Shareholding as a % of total no. of shares (calculated as per SCRR. 19
57)As a % of (A+B+C2) |
No. of Voting Rights |
Total as a % of Total Voting right |
No. of equity shares held in dematerialized form |
| (A) Promoter & Promoter Group |
1 |
18.67,738 |
18,67,738 |
62 24 |
18,67.738 |
62.24 |
18,67,738 |
| <B) Public |
561 |
11.33,262 |
11,33,262 |
37 76 |
11.33,262 |
37 76 |
10,68.162 |
| (Cl) Shares underlying DRs |
|
|
|
0 00 |
|
0.00 |
|
| (C2) Shares held by Employee Trust |
|
|
0.00 |
|
0.00 |
|
|
| (C) Non Promoter-Non Public |
|
|
0 00 |
|
0.00 |
|
|
| Grand Total |
562 |
30.01,000 |
30,01,000 |
100.00 |
30,01.000 |
100 00 |
29,35,900 |
I, NOMULA SRINIVAS, Whole Time Director (DIN: 07496152) of Shalimar Agencies Limited to
the best of our knowledge and belief, certify that:
1. I have reviewed the financial statements for the year and that to the best of
our knowledge and belief:
(a) These statements do not contain any materially untrue statement or omit any
material fact or contain statements that might be misleading; (b) These statements present
a true and fair view of the state of affairs of the Company and of the results of the
operations and cash flows. The financial statements have been prepared in conformity, in
all material respects, with the existing generally accepted accounting principles
including accounting standards, applicable laws and regulations.
2. There are, to the best of our knowledge and belief, no transactions entered into by
the Company during the year which are fraudulent, illegal or in violation of Companys
code of conduct.
3. We accept overall responsibility for establishing and monitoring the Companys
internal control system for financial reporting and evaluating its effectiveness. Internal
Audit function monitors the internal control system for financial reporting, which
encompasses the examination and evaluation of the adequacy and effectiveness. Internal
Audit works with all levels of management and Statutory Auditors, and reports significant
issues to the Audit Committee of the Board. The Auditors and Audit Committee are apprised
of any corrective action taken with regard to significant deficiencies and material
weakness.
4. We indicate to the Auditors and to the Audit Committee:
(a) Significant changes in internal controls over financial reporting during the year;
(b) Significant changes in the accounting policies during the year;
(c) No instances of significant fraud of which we have become aware of and which
involve the management or other employees who have significant role in the Companys
internal control system over financial reporting.
Place: Hyderabad |
For and on Behalf of the Board |
Date: 02-09-2023 |
SHALIMAR AGENCIES LIMITED |
|
Sd/- |
|
NOMULA SRINIVAS |
|
Whole Time Director |
|
(DIN: 07496152) |
+91-9892691696
