Industry Structure and Developments
A.INDUSTRY STRUCTURE AND DEVELOPMENTS India is endowed with rich solar energy
resource and has a vast potential for renewable energy sources, especially in areas such
as solar power. The Company focus on delivering innovation, diversity, quality in its
uniquely customized products and services through constant research and development. We
forge and nurture alliances that are complimentary to the company global ambitions and
retain our responsive, efficient and effective process and systems to realize our vision
at all times.The Company is in business of Trading of Solar Power Plant, information
technology activity, News Paper printing & publishing, Business process outsourcing
and knowledge process outsourcing. During the year Company earned its revenue from
information technology and News Paper printing & publishing activities. Due increased
scope in information technology activity, outsourcing activity, printing and publication
the company expects its businesses to spread all over in India. Despite improved global
financial conditions and reduced short term risks, the world economy continues to expand
at a subdued pace.
We trade in wide range of solar power products for domestic and commercial use which
can be used to operate the complete facility during day time without depending on grid
power and can be mounted on the ground or roof top of buildings, houses, offices, etc.
having capacity ranging from 5kw to 50kw. Solar Power provides a gateway for producing
electricity from solar energy on your very own roof and thereby making a handsome of
savings in electricity bill. These solar power products are extremely durable and
reliable. Investment in solar power is eligible for 100 % depreciation.
The printing industry is highly fragmented. The newspapers and magazine publishing
section has the large printers mainly apart from a few in package, label and commercial
printing. The segments of graphic design, print quality and capability have achieved
global standard. In automated multilevel car parking, the car is lifted and placed at the
available slot. This is done with the help of robotics and a lot of software programming.
Some of the benefits of MLCPS are optimum utilization of space, low construction cost, low
working and maintenance cost to
Opportunities And Threats
Solar Power Energy in India In this century, solar power has already become a small
part of daily life. From solar heated swimming pools to solar powered homes, some examples
already exist to show the useful application of the clean, safe, sustainable power of the
sun. Yet many wonder if small applications will be all solar power is capable of handling.
Certainly, the difficulties of large solar plants are many, although many experts continue
to insist that the future of solar energy is quite sunny. According to some experts, the
sun is our best source of renewable, clean energy. Some estimate that the sun can produce
10,000 times as much energy as the Earth uses at the turn of the 21stcentury. India is a
tropical country, where sunshine is available for longer hours per day and in great
intensity. Solar energy, therefore, has great potential as future energy source. It also
has the advantage of permitting the decentralized distribution of energy, thereby
empowering people at the grassroots level. India is endowed with vast solar energy
potential, about 5,000 trillion kwh per year energy is incident over Indias land area
with most parts receiving 4-7 kwh per sq. m per day. Solar is the most secure of all
sources, since it is abundantly available Theoretically, a small fraction of the total
incident solar energy (if captured effectively) can meet the entire countrys power
requirements. It is also clear that given the large proportion of poor and energy
un-served population in the country, every effort needs to be made to exploit the
relatively abundant sources of energy available to the country. To enhance and implement
solar technologies NSM (National Solar Mission) was launched.
The installed capacity of solar has reached a significant level and if the targets of
JNNSM are met there shall be a steep rise in the installed capacity. The Mission has set
the ambitious target of deploying 20,000 MW of grid connected solar power by 2022 and aims
at reducing the cost of solar power generation in the country through (i) long term
policy; (ii) large scale deployment goals; (iii) aggressive R&D; and (iv) domestic
production of critical raw materials, components and products. It has been envisaged to
achieve grid tariff parity by 2022. Hence as per the present performance in the business
of company in the field of solar power plant trading and expected future growth in that
sector will increase the business opportunity to the company. Many companies and
organizations have come to realize that by outsourcing non core activities, not only cost
are minimized and efficiencies improved but the total business improves because the focus
shifts to the key growth areas of the business
activity. Therefore it provides large opportunities for companies engaged in service
BPO/KPO. There is an ample opportunity for the printing sector in India because of the
following factors : Increase in literacy rate, Use of ink in packaging, Rise in
outsourcing of jobs to India, Large English knowing young population, Increase in life
span (older people read more), Increased urbanization. A large number of factors have
facilitated the fastest growth and development of information technology industry in India
is: Relatively low cost of technical labor, Creation of global household brands,
Government support and policies, Reasonable technical innovations, Contribution of IITs
and other leading engineering colleges in India. There is various opportunity in
Information technology sector: High quality IT education market, Increasing number of
working age people, India‘s well developed soft infrastructure.Our strength is our
determination and team work, opportunities are multiples and threats are the vibrations in
the economy and government policies.
Risk and concerns
Software development and IT Education is a risky business but the company is doing
business diligently and does not expect any losses in the future. BPO/KPO sector is
restricted by low employability despite high graduate turnout, and competing demand from
other sectors as jobs grow faster than the workforce. A possible talent crunch and
increasing competition from other countries such as China and the Philippines are the
major challenges currently faced by the industry.also a policy to manage the risks
encountered or the potential ones in a planned way.
Outlook
The market has started showing improvements since quarter thereof FY 2022-23.
The growth of Information Technologies, Software and News paper publishing etc, are
expected to grow in linewith the GDP growth estimated.
Internal Control Mechanism
The directors has laid down internal financial controls to be followed by the company
and that such internal financial controls are adequate and operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and
Cautionary Statements
The above Management Discussion and Analysis contains certain forwardlooking statements
within the meaning of applicable security laws and regulations. These pertain to the
Companys future business prospects and business profitability, which are subject to a
number of risks and uncertainties and the actual results could materially differ from
those in such forward looking statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties, regarding
fluctuations in earnings, our ability to manage growth, competition, economic growth in
India, ability to attract and retain highly skilled professionals, time and cost over runs
on contracts, government policies and actions with respect to investments, fiscal
deficits, regulation, etc. In accordance with the Code of Corporate Governance approved by
the Securities and Exchange Board of India, shareholders and readers are cautioned that in
the case of data and information external to the Company, no representation is made on its
accuracy or comprehensiveness though the same are based on sources thought to be reliable.
The Company does not undertake to make any announcement in case any of these forward
looking statements become materially incorrect in future or update any forward looking
statements made from time to time on behalf of the Company
To,
The Members
Sylph Technologies Limited
[CIN: L36100MP1992PLC007102]
We have examined the compliance of the conditions of Corporate Governance by Sylph
Technologies Limited, for the year endedMarch31,2023, as stipulate in regulation34(3) read
with schedule of the SEBI (Listing Obligations and Disclosure Requirement)
Regulation,2015.
The compliance of conditions of corporate governance is the responsibility of the
management. Our examination was limited to are view of procedures and implementation
thereof, by the company for ensuring the compliance of the conditions of corporate
governance. It is neither an audit nor an expression of opinion on the financial
statements of the company.
In our opinion and to the best of our information and according to the explanations
given to us and their presentations made by the directors and management, we certify that
the company has complied with conditions of corporate governance as stipulated in the SEBI
(Listing Obligation and Disclosure Requirement) Regulation,2015.
Westatethatsuchcomplianceisneitheranassuranceastothefutureviabilityofthecompanynortheeffi
ciencyoreffectiveness with which the management has conducted the affairs of the company.
ForInani &Inani
Chartered Accountants,
CA Ankit Shah
Place: Ahmedabad
Date: May 30,2023
+91-9892691696
