Draft : Financial Highlights

**Draft**
Abridged Directors Report
To,
The Members,
Of________________________
The Directors have pleasure in presenting the _______ & the audited financial statements for the
Financial Year 2017-2018.
FINANCIAL HIGHLIGHTS
The revenue from operation of the company for the year ended 31st March 2018 was up by around __%
to Rs.__________. Profit after tax for the Year is Rs. ______________as against Rs.__________ in the
immediately preceding previous year.
Following are the Standalone financial Result:

Year ended 31st March Year ended 31st March
Particulars 2018 2017
(Rs.) (Rs.)
Turnover
Profit/(Loss) before taxation
Less : Tax Expense
Profit/(Loss) after tax
Add : Balance B/F from the previous year
Add : MAT Credit entitlement -
Less : Transferred to Furniture Fixture & -
Equipments reserves
Balance Profit / (Loss) C/F to the next year
NATURE OF COMPANIES AFFAIRS, CHANGES AND FUTURE OUTLOOK:

COMPOSITION OF THE BOARD
During the year there is no change in the composition of the Board.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors of your Company, to the
best of their knowledge and ability, confirm that:
1. in the preparation of the annual accounts, the applicable accounting standards had been followed
along with proper explanation relating to material departures;
2. 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 of the company for that
period;
3. 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;
4. The Directors have prepared the annual accounts on a going concern basis;
5. The Directors have not laid down internal financial controls as, the clause (e) of subsection
(5) of section 134 not applicable to the company
6. The Directors have devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems are adequate and operating effectively.
NUMBER OF MEETING OF THE BOARD
During the Year 2017-2018 Four board Meetings were convened.
ANNUAL RETURN
The extract of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the
Companies (Management and Administration) Rules, 2014, is furnished in Annexure-I and is
attached to this Report.
Or
If Company has a website so;
The details forming part of Annual Return in Form MGT-9 in accordance with Section 92(3) of
the Companies Act, 2013 readwith the Companies (Management and Administration) Rules,
2014, is available on the website of the company i.e. ____________________________ under
the head “ Investor” titled Annual Return.
RELATED PARTY TRANSACTION
All Related Party Transactions (RPT) entered into by the Company during the year under review
were at arms' length basis andwere in the ordinary course of business.Further the particulars of
Contract or arrangements with related parties referred to in sub section (1) of section 188 of
the Companies Act, 2013 are disclosed in Form AOC-2 i.e., Annexure-IIof the report.
STATUTORY AUDITORS
Member had appointed ______________________ as the statutory auditor of the company

vides resolution dated ____________ passed in the ___ Annual general meeting, for the period
of five years subject to ratification of appointment in every Annual General meeting.
However, pursuant to the Amendment in the Companies Act 2013 Vide dated 7th May
2018,now the necessity of ratification ofappointment of statuary auditor in Annual general
Meeting is not required. Therefore, agenda for ratification for appointment of statutory auditor
is not included in ensuing Annual General meeting notice.
Therefore, in order to remove theratification clause from the resolution which was earlier
passed on ______ and to streamline the same with the amended law, it is proposed to pass the
supplementary ordinary resolution in supersession of the earlier resolution.
The explanation / comments made by the board relating to the qualifications, reservations or
adverse remarks made by the statutory auditors in their report are furnished herewith:
In response to Statutory Auditors’ Report, Para wise explanation by the management is given
below:
Auditors’ Comment:
Management Response
GENERAL
1. No material changes or commitments, if any, affecting the financial position of the Company
occurred between the endof the financial year of the Company i.e. 31 December 2018 and the
date of this report.
2. No significant and material orders were passed by the Regulators or Courts or Tribunals
which impact the going concern status and Company's operations in future.
3. There were no frauds reported by auditors as per Sections 143 (12) of the Companies Act,
2013.
ACKNOWLEDGEMENT
The Board wishes to place on record its appreciation to all employees for their continued
contribution to the performance of the Company. The Board would also like to register its
sincere appreciation to the contribution made by Members of the Board.
For and on behalf of the Board of Directors of

______________________________

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Draft : Financial Highlights

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Draft

Abridged Directors Report

Following are the Standalone financial Result:

NATURE OF COMPANIES AFFAIRS, CHANGES AND FUTURE OUTLOOK:

During the year there is no change in the composition of the Board.

DIRECTORS’ RESPONSIBILITY STATEMENT

NUMBER OF MEETING OF THE BOARD

During the Year 2017-2018 Four board Meetings were convened.

If Company has a website so;

RELATED PARTY TRANSACTION

Member had appointed ______________________ as the statutory auditor of the company

For and on behalf of the Board of Directors of

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