Silverline Technologies Ltd Directors Report.

Your directors have pleasure in submitting their 25th Annual Report together with the audited accounts for the year ended 31st March,2018

Financial Results (Consolidated)

Year Ended 01/04/2017 to 31/03/2018

Year Ended 1/4/2016to 31/03/2017

Rs. In Lacs

Rs. in Lacs




Domestic Sales



Other operating income



Total Turnover



Gross profit (i.e., Profit before interest and depreciation)



Profit before exceptional Item and tax



Exceptional item –

Profit/(Loss) after exceptional Item (before tax) PBT



Profit/(Loss) after exceptional Item and tax PAT



Earnings per share - basic and diluted Rs.




In view of the losses and carried over losses no dividend is recommended by your board of directors for the financial year ended 31st March, 2018.

MANAGEMENT DISCUSSION AND ANALYSIS (a) Industry structure and developments:

The India n information technology playing key role in the economic development and valuable foreign exchange to the country. i ts going to play the important role in the growth of country GDP and standard of living of the people of India . The latest industry data shows the growth in the user of smart phone all over the world which would like to create more opportunity to the company to enter into the digitalization.

(b) Future Outlook

The India n iT/iTeS industry has emerged as a key growth engine for the economy, contributing to the countrys Gross Domestic Product (GDP) in last twenty years and also providing direct employment opportunities to the young generation. it remains one of the biggest sectors for wealth generation in the country.

(c) Strategies and Future plans

The Company is also actively examining the possibility of reducing costs at all levels and evaluating new value added products, which will have fresh business in domestic as well as international markets.

(d) Risks and Concerns

The Company recognises that risk is an integral and unavoidable component of business and is committed to managing the risk in a proactive and effective manner. In this regard, the Company has adopted Risk Management Mechanism which involves the

Process of systematically identifying all possible risk events which have a potential impact on the business.

Prioritizing the identified risks by the likelihood and the potential impact.

Managing risks by using any of the four techniques namely risk avoidance, risk transfer, risk sharing and risk reduction. Oversight and review of the risk management system and any changes that might affect it. Monitoring and reviewing occurs concurrently throughout the risk management process.

Appropriate communication and consultation with internal and external stakeholders should occur at each stage of the risk management process as well as on the process as a whole.


Foreign Exchange Risk

Company is exposed to foreign exchange risk on account of its export sales to other countries. Credit Risks Company faces credit risks in case of delays in settlement of dues by clients.

Legal Risks

The Company operates in a complex legal/regulatory environment and is governed by various laws and statutes. Hence the Company is exposed to legal risk exposure.Company has set up an experienced team of professionals and has established a well compliance management to deal with all legal requirements.

Other Risks

Apart from the risks mentioned above, the Companys business is exposed to other operating risks, which are mitigated through regular monitoring and corrective action.

(e) Internal control and systems

The Company has in place a well established internal control procedures covering various areas. necessary checks and balances have been instituted for timely correction.

Human resources management

Employees are your companys most valuable resource. Your Company continues to create a favourable environment at work place. The company also recognises the importance of training and consequently deputes its work force to various work related courses/seminars including important areas like issues like Technical skills.

Environmental Protection, Health and Safety (EHS)

EHS continues to receive the highest priority in all operational and functional areas at all locations of your Company.

Extract of Annual Return

The extract of annual return in Form MGT – 9 has been annexed with this report and form part of this report.

Number of Board Meetings

The details pertaining to meetings of the Board has been explained under Corporate Governance Report annexed to the directors report and forms part of this report.

Establishment of Vigil Mechanism

The Company has established a vigil mechanism for Directors and employees to report their genuine concerns. >

Declaration by Independent Directors

The newly appointed independent directors of the Company have submitted a declaration that each of them meets the criteria of independence as provided in Sub-Section (6) of Section 149 of the Act and revised Clause 49 of the Listing Agreements. Further, there has been no change in the circumstances which may affect their status as Independent director during the year.

Secretarial Audit and statutory Report

The Company appointed Mr. Hardik Ratani,Practising Company Secretaries as Secretarial Auditors, to conduct Secretarial Audit particularly with reference to compliance with Companies Act, 2013, Listing Agreement and relevant SEBi Regulations for the financial year 2017-18. The report of the Secretarial Audit for the financial year 2017-18 in FORM MR-3 is annexed to this report and forms part of this report.

There are disqualifications, reservations or adverse remarks or disclaimers in the Secretarial Auditors Report, which your company would like to rectify in phase manner.

There are no disqualification, reservations or adverse remarks or disclaimers in the Auditor Report

Audit Committee

Details of Composition of Audit Committee are covered under Corporate Governance Report annexed with this report and forms part of this report. Further, during this year none of the recommendations of the Audit Committee has been rejected by the

Board. The new Audit committee constituted in place of disqualified directors and assure to report independently in the best interest of the organisation.

Policy of Directors Appointment and Remuneration

Companys policy on Directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a director and other matters provided under section 178(3) of the Act are covered under nomination and Remuneration Policy covered under Corporate Governance Report and forms part of this report. Further, information about elements of remuneration package of individual directors is provided in the extract of Annual Return as provided under Section92(3) of the Act, prescribed form MGT-9 annexed with this report and forms part of this Report.

Particulars of Employees

The information required under Rule 5 of the Act and rules made there-under, in respect of employees employed throughout the year and in receipt of remuneration of Rs. 5,00,000 or in agreegate of Rs. 60,00,000 per year - nil - (Previous Year -nil-)

Managerial Remuneration

Statistical Disclosures pursuant to Rule 5 of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is annexed with this report and forms part of this report.

Related Party Transactions

Transactions entered with related parties have been explained in Form AOC -2 annexed with this report and forms part of this report.

Board Evaluation

The board of directors had carried out an annual evaluation of its own performance, Board committees and individual directors pursuant to the provisions of the Companies Act, 2013 and clause 49 of the SEBi listing agreement. in the separate meeting of the independent directors, performance of non-independent directors, performance of the board as a whole and performance of the Director was evaluated taking into account the views of executive directors and non-executive directors. The same was discussed at the next Board Meeting followed the meeting of the independent directors and the i ndependent Directors were evaluated without the presence of the director getting evaluated and also the performance of the Board, its Committees and individual directors were also discussed by the Board. The individual directors and the board as a whole in accordance with the performance Evaluation Policy guidelines were evaluated mainly on the basis of the criteria such as attendance, participation, contribution and the benefits derived by the Company. The Director was evaluated on the key aspects of his role. The performance of the committees was evaluated by the board after seeking inputs from the committee members on the basis of the criteria such as the composition of committees, effectiveness of committee meetings, etc. The Performance

Evaluation policy is uploaded in the Companys website.

Disclosure as per Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

The Company has zero tolerance for sexual harassment at workplace and has adopted a policy on prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the rules framed thereunder. The Company has set up a Committee for addressing issues related to women and during the financial year 2017-18, there were no complaints received on sexual harassment.

Material Changes and Commitments during the year, if any

There were no material changes and commitments between the end of the period under review and the date of this report which could have an impact on the Companys operation in the future or its status as a "going concern".

Or Tribunals Impacting The Company NIL Significant

Listing of Shares

Your Companys Shares are traded only in Bombay Stock Exchange which is presently under suspended category.

Annexures to this Report

The following are the annexures to this report Directors Responsibility Statement in Annexure 1

1. Conservation of energy, technology absorption, Research and development and foreign exchange earnings and outgo in Annexure 2

2. Statement containing salient features of the financial statement of associate company (FormAOC 1) in Annexure 3

3. Form AOC - 2 in Annexure 4

4. Extract of Annual Report (Form MGT-9) in Annexure 5

5. Secretarial Audit Report (Form MR-3) in Annexure 6

6. Particulars of Remuneration in Annexure 7

7. Corporate Governance Report in Annexure 8

Cautionary Note

Statements in the Directors report and the management discussion and analysis describing the Companys objectives, expectations or predictions may be forward looking within the meaning of applicable securities laws and regulations. Actual results might differ materially from those either expressed or implied in the statement. Important factors that could influence the Companys operations include global and domestic demand and supply conditions affecting selling prices of finished goods, input availability and prices, changes in government regulations, tax laws, economic developments within the country and other related factors such as litigation and industrial relations.


Directors of your Company record their sincere appreciation of the dedication and commitment of all employees in achieving and sustaining excellence in all areas of the business. Your directors thank the Shareholders, Customers, Suppliers, Bankers and other stakeholders for their continued support during the year. Your Companys consistent growth has been made possible by the hard work, solidarity, cooperation and support of the management team.

On behalf of the Board

Lucy DLima


Mumbai,3rd August,2018