Om Freight Forwarders Ltd Directors Report

To

The Members of

Om Freight Forwarders Private Limited,

Mumbai*.

i

Your Directors have pleasure in presenting the Board s Report of your Company together with the Audited Statement of Accounts and the Auditors Report of your company for the financial year ended 31st March, 2023.

FINANCIAL HIGHLIGHTS

Particulars	2022-23	2021-22
Gross Revenue	1,31,95,05,006	1,09,12,19,387
Profit Before Tax	33,59,82,701	12,71,14,026
Current Tax	9,51,97,413	3,05,71,625
Deferred Tax	1,77,68,724	(35,41,592)
N et Profit After Tax	22,30,16,563	10,00,83,993

STATE OF COMPANY S AFFAIRS AND FUTURE OUTLOOK

The Company is engaged in the business of clearing and forwarding agents, customs agents, common carriers, freight booking agents and cargo booking agents in Air and Sea transport.

The Company has made a profit of Rs.22,30,16,563/-in financial year ended 31.03.2023 against a profit of Rs.10,00,83,993/-during the previous year.

CHANGE IN NATURE OF BUSINESS. IF ANY

There is no change in the nature of business during the year under review.

DIVIDEND

No Dividend was declared for the current financial year due to conservation of Profits.

AMOUNT TRANSFERRED TO RESERVE

For the financial year ended 31st March, 2023, the Company was not proposed to carry any amount to its General Reserve.

CHANGE IN SHARE CAPITAL. IF ANY

There is no change in Share Capital during the financial year.

INFORMATION ABOUT SUBSIDIARY/ JV/ ASSOCIATE COM PANY

The company does not have any Subsidiary, Joint venture or Associate Company.

TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Your Company did not have any funds lying unpaid or unclaimed for the period of seven years. Therefore there were no funds that were required to be transferred to the Investor Education and Protection Fund (!EPF).

MATERIAL CHANGES AND COMMITMENTS

No material changes and commitments affecting the financial position of the Company occurred between the end of the financial year to which this financial statementrelates on the date of this report

MEETINGS OF-THE BOARD OF DIRECTORS

During the Financial Year 2022-23, the Company held 19 (Nineteen)board meetings of the Board of Directors as per Section 173 of the Companies Act, 2013 which is summarized below. The provisions of the Companies Act, 2013were adhered to while considering the time gap between two meetings.

SN	Date of Meeting	Board Strength	No. of Directors Present
1	01/04/2022	5	5
2	02/04/2022	5	5
3	11/04/2022	5	5
4	11/05/2022	5	5
5	01/06/2022	5	5
6	10/06/2022	5	5
7	01/07/2022	5	5
. 8	04/07/2022	5	5
9	01/08/2022	5	5
10	23/08/2022	5	5
11	25/09/2022	5	5
12	21/12/2022	5	5
13	27/12/2022	S	5
14	2/01/2023	5	5
15	25/01/2023	5	5
16	31/01/2023	5	5
17	22/02/2023	5	5
18	03/03/2023	5	5
19	21/03/2023	5	5

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms that*

(a) In the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures;

(b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

(c) The directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis; and

(e) Company being unlisted sub-clause (e) of section 134(3) is not applicable

(0 The directors had devised proper systems to ensure compliance with the provisions of ail applicable laws and that such systems were adequate and operating effectively.

AUDITORS and REPORT thereon

The Auditors, M/s Gaia & Associates, Chartered Accountants, Mumbai was appointed as Statutory Auditors for a period of Five Years in the AGM of F.Y. 2018-19 till the conclusion of AGM to be held on for the financial year 2023-24.

There are qualification remarks in the Auditors Report. The Notes on Financial Statements are self- explanatory and need no further explanation.

Further, the Auditors Report for the financial year ended, 31st March, 2023 is annexed herewith for your kind perusal and information.

LOANS, GUARANTEES AND INVESTMENTS

There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is not applicable.

RELATED PARTY TRANSACTIONS

AM related party transactions that were entered into during the financial year were on an arm s length basis and were in the ordinary course of business. Approval of the Board of Directors and Shareholders was obtained wherever required. Further, all the necessary details of the transaction entered with related parties are attached herewith in Form No.AOC-2 for your kind perusal and information.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE OUTGO:

A. Conservation of Energy, Technology Absorption

The particulars as required under the provisions of Section 134(3) (m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have not been furnished considering the assise of activities undertaken by the company during the year under review.

R Foreign Exchange Earnings And Outgo

Earnings	Rs. 29,07,03,223/-
Outgo	Rs.l,00,01,93,664/-

The Company does not have any Risk Management Policy as the elements of risk threatening the Company s existence are very minimal.

DIRECTORS and KMP

There has been no Change in the constitution of Board during the year.

DEPOSITS

The company has not accepted any deposits during the year.

CORPORATE SOCIAL RESPONSIBILITY fCSR)

The CSR expenditure incurred by your Company during the financial year 2022-23 was Rs.30,86,000/- (Rupees Thirty Lakhs Eighty-Six Thousand)which was excess by Rs. 13,018/-, the statutory requirement of 2% of average profit for the last 3 years was Rs.30,72,982/-(Rupees Thirty Lakhs Seventy-Two Thousand Nine Hundred Eighty-Two).

The CSR initiativeof your Company implicatesspendingon education, medical assistance and eradicating hunger for needy people In the society throughdonating the amount to a Registered Trust.

This is in accordance with Section 135 and Schedule VII of the Companies Act, 2013 and Companies (Corporate Social Responsibility Policy) Rule, 2014.

SHARES i

a. BUY BACK OF SECURITIES

The Company has not bought back any of its securities during the year under review. h. SWEAT EQUITY

The Company has not issued any Sweat Equity Shares during the year under review.

c. BONUS SHARES

No Bonus Shares were issued during the year under review.

0

dL EMPLOYEES STOCK OPTION FLAN

Tae Company has not provided any Stock Option Scheme to the employees.

ORDER OF COURT

Tkre is no significant and material orders passed by the regulators or courts or Tribunals impacting the going concern status and company s operation in future.

ACKNOWLEDGEMENT

Yota- Directors wish to express their grateful appreciation to the continued co-operation received from the Bsnits, Government Authorities, Customers, Vendors and Shareholders during the year under review. You Directors also wish to place on record their deep sense of appreciation for the committed service of die Executives, staff and Workers of the Company.

DATE : 19.09.2023 PLACE: MUMBAI