Relic Technologies Ltd Management Discussions.

This report discusses the operations and financial performance of your Company.

1. OVERALL REVIEW:

The Company is member of NAE and engaged in share broking business only.

Company s main clients include Institutional client.

Internal control systems and their adequacy:

The Company has proper and adequate internal controls commensurate with its size and the nature of its operations in order to ensure that all assets are properly safeguarded against loss from unauthorised use or disposal. All significant issues are brought to the attention of the Audit Committee of the Board.

Some significant features of the internal control systems are:

• Corporate policies / procedures on accounting and major processes;

• Management review system, preparation and monitoring of annual budgets;

• Effective IT systems and procedures to aid business performance, automation and build systematic controls; and

• An on-going program for strengthening of the code.

Audit committee of the board of directors, compromising of independent directors, regularly reviews the audit plans, significant audit findings, adequacy of internal controls, compliance with accounting standards as well as reasons for changes in accounting policies and practices, etc.

Company s financial performance & analysis:

Financial performance and review of operation from part of the directors report which details the company s financial and operational performance.

Profit after tax was at Rs.18.98 Lacs against profit of Rs. 1.14 Lacs in the previous year.

Human resource development / industrial relations:

The Management has a strong belief that the industrial relations will remain cordial and harmonious and continues to be so in the year ahead.

Cautionary Statement:

Though the statement and views expressed in the above said report are on the basis of best judgment but the actual future results might differ from whatever is stated in the report.

Registered Office: By order Of the Board of Directors
For RELIC TECHNOLOGIES LIMITED
J Block,
Bhangwadi Shopping Centre,
Kalbadevi Road, BAIJOO RAVAL
Mumbai 400 002 WHOLE TIME
Date: 14 August, 2018 DIRECTOR
(DIN No. 00429398)