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Svam Software Ltd.

BSE: 523722 | NSE: | Series: | ISIN: INE119B01018 | SECTOR: Computers - Software Medium & Small

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Annual Report

For Year :
2014 2013 2012 2011 2008 2006

Director’s Report

Dear Members, The Directors have pleasure in presenting the 22nd Annual Report on the business, operations and financial performance of the company during the financial year ended 31st March 2014. The profit after tax of the company is Rs. 1.11/- lacs during current financial year. FINANCIAL RESULTS (Rs. In lacs) Particulars For The Year Ended 31st March 2014 31st March, 2013 Sales/Operating Income 815.74 1484.61 Other Income 43.45 25.72 Expenses:- Purchase of Stock in trade 786.81 1465.68 Changes in Inventory of Stock-in-Trade 18.70 (5.04) Employee Benefit Expenses 16.67 20.89 Depreciation and Amortisation Expenses 7.84 0.50 Administrative & Other expenses 26.98 22.15 Profit Before Tax 2.19 6.15 Tax Expense:- Current Tax 0.40 1.17 Deferred Tax 0.68 3.41 Profit/(Loss) After Tax 1.11 1.57 BUSINESS REVIEW The turnover of the company during the year 2013-14 is Rs. 815.74 lacs as compared to Rs. 1484.62 lacs during the immediately preceding financial year. However, profit before tax is Rs. 2.19/- lacs during the current financial year as compared to Rs. 6.15/- lacs during the immediately preceding financial year. FUTURE OUTLOOK The outlook of the economic growth across the globe with positive vibrations will fuel a growth and demand recovery. At the present moment there is a lull in the market and the management is looking forward for changing situation in the global market. While optimism rears for new vigour and thrust like emphasis on colour ways and new designs, it is expected these changes will bring in positive response from the overseas buyers and will trigger growth and profitability in due course of time. DIVIDEND In order to augment reserves and to cater to the working capital requirements, no dividend is being recommended. PUBLIC DEPOSIT SCHEME During the year, your Company has not accepted any deposits. There are no outstanding deposits as on date. CORPORATE GOVERNANCE Your Company is committed to maintain the highest standards of Corporate Governance. Your Director adhere to the stipulations set out in the Listing Agreement with the Stock Exchanges and have implemented all the prescribed requirements. A separate report on Corporate Governance as stipulated, under Clause 49 of the listing Agreement, with the Stock Exchanges and have implemented all the prescribed requirements. A certificate from the auditors of the company M/s SNMG & Co; Chartered Accountants confirming compliance of conditions of Corporate Governance as stipulated in Clause 49 is annexed to this report. BOARD OF DIRECTORS Your board has an Executive Chairman and the number of Independent Directors is one half of the total strength of Directors. The composition of the board is in conformity of Clause 49 of the Listing Agreement. Your board of directors consist of the following four directors: 1. Mr. Rajeev Garg (Managing Director & Executive); 2. Mr. Harshwardhan Koshal (Non Executive Independent) and; 3. Mr. Sudhir Kumar Agarwal (Non Executive); and 4. Mr. Neeraj Khetarpal (Non-Executive Independent) 5. Mrs. Manisha Agarwal (Non Executive) DIRECTORS RESPONSIBILITY STATEMENT Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby confirmed: 1. That in the preparation of the accounts for the financial year ended 31st March, 2014 the applicable accounting standards have been followed along with proper explanation relating to material departures. 2. That the directors have selected such accounting policies and applied them consistently and made judgments and estimates that were 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 the year under review. 3. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities. 4. That the Directors have prepared the accounts for the financial year ended 31st March, 2014 on a going concern basis. AUDITORS AND THEIR REPORT M/s SNMG & Co., Chartered Accountants, Chartered Accountants, who served as Statutory Auditors of the company since a long time, resigned from the position w.e.f. 30th September, 2014, expressing their inability to continue as the Statutory Auditors of the Company. In their replacement, M/s DEEPAK I P AGARWAL & CO., CHARTERED ACCOUNTANTS, will be appointed as Statutory Auditors of the Company with approval of shareholders of the company by way of ordinary resolution passed in its Annual General Meeting. The board recommends their appointment as statutory auditors of the company. SUBSIDIARIES As on 31st March 2014, the Company has three Wholly Owned Subsidiary namely Deby Exim Limited , Apron Estates Limited and Phoebe Infotech Limited respectively. Consolidated Accounts of its subsidiaries for the year under review has also been drawn in accordance with applicable accounting Standards. CONSOLITED FINANCIAL STATEMENT As required under the Listing Agreements with the Stock Exchanges Consolidated Financial Statements of the Company are attached. The consolidated Financial statements have been prepared in accordance with Accounting standard 21 ,Accounting standard 23 and Accounting standard 27 issued by The Institute of Chartered Accountants of India and showing the financial resources, assets, liabilities, income, profits and other details of the Company and its subsidiaries as a single entity, after elimination of minority interest. MANAGEMENT DISCUSSION AND ANALYSIS REPORT Management Discussion and Analysis Report as required under Clause 49 of the Listing Agreement with the Stock Exchanges is given in Annexure-A and forms an integral part of this report. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARN-INGS AND OUTGO The information pertaining to conservation of energy, technology absorption, foreign exchange earnings & outgo, as required under the Companies Act, 2013, read with the Draft Companies Rules, 2014 is given as per Annexure of the Directors Report. PARTICULARS OF EMPLOYEES As required under section 217(2A) of the Companies Act, 1956 read with the Companies (Particulars of Employees) Rules, 1975 as amended time to time, no employee of the company was covered by these provisions during the year ended 31.03.2014. APPRECIATION The Company places on record its deep appreciation of the devoted services of executives and other staff of the company who have contributed in the performance and the Company''s inherent strength. Grateful thanks are also due to the investors, the bankers, business associates & all other stakeholders for their continued support to the company from time to time. By the Order of the Board For SVAM SOFTWARE LIMITED Sd/- Sd/- Rajeev Garg Sudhir Kumar Agarwal Place : Delhi (Managing Director) (Director) Dated : 14/08/2014 DIN: 02216829 DIN: 00024935

Director’s Report