Silverline Technologies Limited Unlisted Shares

Annual Report Summary

Silverline Technologies Limited 29th Annual Report 2020-2021 Summary:

Overview: The document is the 29th Annual Report of Silverline Technologies Limited for the fiscal year 2020-2021. It includes the Chairman's message, calendar of events, notice of the Annual General Meeting (AGM), Director's Report, Corporate Governance Report, Auditor's Report and Financial Statements. Silverline Technologies Limited is a company domiciled in India and is incorporated under the provisions of the Companies Act applicable in India. The Company is primarily engaged in the business of Plastic Molding manufacturing activity at its software development unit situated at SEEPZ, Mumbai Maharashtra.

Board of Directors and Key Personnel: Key personnel include: Ravi Subramanian (Chairman and Executive Director), Srinivasan Pattamadai (Managing Director), Lucy D'lima (Women Independent Director), Anupam Khushwa (Independent Director), Ramakrishnan Iyer (Independent Director), Jyoti Kumari Sharma (Company Secretary).

Annual General Meeting (AGM): The 29th AGM will be held on December 30, 2021, at 2:00 PM via Video Conferencing (VC)/Other Audio Visual Means (OAVM). Ordinary business includes: Adoption of Financial Statements and Reports thereon, Appointment of a Director in place of the one retiring by rotation, Re-Appointment of Statutory Auditors, Special Business: To appoint Mr. Tahir Mustufa Masalawala as an Independent Director for a period of Five years upto 31/03/2026.

Chairman's Message: Despite best efforts, the revival plan's implementation was hampered by inability to mobilize funds due to BSE trading suspension. However, efforts were made to address all outstanding issues for BSE trading resumption. The revival strategy was fine-tuned focusing on digital space market opportunities, and SBU's were reconstituted: SAP Consulting Services, SAP HANA Practice, Pharma/Life Sciences -SMB segment, Supply Chain Finance, Cyber Security Business, Digital Business initiatives.

Director's Report: The company generated revenue of Rs. 345.20 lacs in 2020-21 compared to Rs. 282.30 lacs in the previous year and incurred a loss of Rs. 198.95 lacs compared to a profit of Rs. 24.85 lacs. The Board of Directors was reconstituted. The Company has hired several qualified Professional's including Corporate Advocates, Company Secretaries, IT Professional's etc. These professionals had successfully completed various pending Compliances with Bombay Stock Exchange, Registrar of Companies, NSDL, CDSL, and the Registrar and Share Transfer Agents. There was no change in the nature of business. The Board doesn't propose transferring any amount to the Reserve. Directors haven't recommended any dividend for the current period. There has been no instances of occurrence of any material changes or commitments that could affect the financial position of the Company. The trading at the BSE is under suspension. The company has zero tolerance towards sexual harassment at the workplace.

Financial Highlights (Year Ended March 31, 2021, in Lacs):

• Total Turnover: 345.20
• Gross profit: (198.95)
• Profit before exceptional Item and tax: (198.95)
• Profit after exceptional Item (before tax) – PBT: (198.95)
• Profit after exceptional Item and tax – PAT: (198.95)
• Earnings per share - basic and diluted Rs.: (0.33)

Corporate Governance: The details of composition and meetings of the committees held during the year are given in the Corporate Governance Report. The company will be sending Annual Report through electronic mode i.e. email to all the shareholders. The Company has established a vigil mechanism to enable directors and employees to report genuine concerns and grievances.

Auditor's Report: The report includes the opinion of the auditors on the standalone financial statements, key audit matters, and other legal and regulatory requirements. The auditor reports on the accuracy and fairness of the financial statements and the adequacy of internal financial controls. The report also mentions compliance with various accounting standards and regulations.

Financial Statements: The report includes the balance sheet, statement of profit and loss, statement of cash flow, and statement of changes in equity. It provides detailed information about the company's assets, liabilities, equity, revenue, expenses, and cash flows.

Key Ratios and Financial Position: The company's performance shows an increase in revenue but also significant losses. The report highlights the efforts to revive the business, comply with regulations, and improve internal controls. The company's debt levels are also noted.