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A Oneindia Venture

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Sensex 84,929.36 +0.53%

Nifty 25,966.40 +0.58%

22k Gold ₹ 12,300 /gm

Directors Report of Shri Krishna Devcon Ltd.

Mar 31, 2024

Your directors are pleased to present the 30th Annual Report along with the Audited Financial Statements of your Company for the financial year ended March 31, 2024.

1. Financial Performance

The Audited Financial Statements of your Company as on March 31, 2024, are prepared in accordance with the relevant applicable Ind AS and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and the provisions of the Companies Act, 2013 ("Act").

The summarized financial highlights are given below:

Particulars	Standalone		Consolidated
Particulars	2023-24	2022-23	2023-24	2022-23
Total Income	2591.61	3219.21	2591.61	3219.21
Total Expenses	1947.23	2557.72	1947.23	2557.72
Profit / (Loss) before exceptional items & tax	644.38	661.49	644.38	661.49
Exceptional items	0.00	0.00	0.00	0.00
Profit / (Loss) before Tax	644.38	661.49	644.38	661.49
Total Tax Expenses	199.46	179.22	199.46	179.22
Profit / (Loss) after Tax	444.92	482.26	444.92	482.26
Other comprehensive income (net of tax)	0.00	0.00	0.00	0.00
Total comprehensive income for the year	444.92	482.26	444.92	482.26

2. Operational Highlights and State of Company''s Affairs

During the financial year 2023-24, total revenue on standalone as well as on consolidated basis was Rs. 2591.61 Lakhs as against Rs. 3219.21 Lakhs in the previous year - a fall of 19.49% recorded; Profit before Tax for the current year is Rs. 644.38 Lakhs as against Rs. 661.49 Lakhs in the previous year - a fall of 2.58% recorded and the total comprehensive income stood at Rs. 444.92 Lakhs as against Rs. 482.26 Lakhs for the previous year - a fall of 7.74% recorded.

3. Segment Performance

The Company has evaluated its Operating segments in accordance with Ind AS 108 and has concluded that it is engaged in a single operating segment viz. real estate business.

4. Changes in the nature of business, if any

There has been no change in nature of business of your Company.

5. Reserves

During the year under review, no amount was transferred to General Reserve.

6. Dividend

The Company continues to look at growth prospects through new investment opportunities. The key objective of the Company is to achieve a consistent sustainable growth over the years to come and consolidate the Company''s position. Keeping in view the growth strategy of the Company, the Board of Directors has decided that it would be prudent not to recommend any dividend for the year under review.

7. Subsidiary, Associate and Joint Venture Companies, their highlights of performance and their contribution to overall performance of the company

There are no subsidiary companies within the meaning of Section 2(87) of the Act and also no associate companies or joint venture Companies within the meaning of Section 2(6) of the Act. However, company have following subsidiary partnership firm and associate partnership firms during the year under review.

Subsidiary - Partnership Firm M/s. Shrikrishna Buildcon

Associate - Partnership Firms M/s. Avani Buildcon, M/s. Krishna Developers, M/s. Maa Shipra Enterprises and M/s. Rose Builtech

Kindly refer Form AOC-1 annexed to this Report as Annexure-I containing salient features of the Financial Statements of Subsidiary and Joint Ventures forms part of this report and hence is not repeated here for sake of brevity.

There has been no material change in the nature of the business of the subsidiary and associates. M/s. Krishna Developers an associate partnership firm has been dissolved during the year under review.

In terms of Section 136 of the Act the copies of the documents shall be made available for inspection at its registered office during working hours for a period of twenty-one days before the date of the meeting.

Pursuant to the requirements of Regulation 34(3) read with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, the details of Loans/ Advances made to and investments made in the subsidiaries have been furnished in Notes forming part of the Accounts.

There is no material subsidiary as per the thresholds laid down under the SEBI (Listing Obligation and Disclosure Requirements), Regulation, 2015.

9. Share Capital and Listing

The paid-up equity capital as on March 31, 2024 was Rs. 2800.00 Lakhs. As on date all the 2,80,00,000 (Two Crores and Eighty Lakhs) Equity Shares of the Company are listed on the BSE Limited. The Listing fees have been paid to the BSE Limited for the year 2024-25.

10. Web-link for annual return

Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, the Annual Return is available on the website of the Company at https://shrikrishnadevconlimited.com/annual-report/.

11. Revision in Financial Statements

In terms of section 131 of the Companies Act, 2013, the Financial Statements and Board''s Report are in compliance with the provisions of section 129 or section 134 of the act and that no revision has been made during any of the three preceding Financial Years.

12. Deposits

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014 as amended from time to time and no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet. However, company is having unsecured loan of Rs. 1066.08 Lakhs as on March 31, 2024 from Directors of the company for which proper declaration has been furnished by them as required under Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period under review.

13. Material changes and commitments

There were no Material changes affecting the financial position of the Company, which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

14. Consolidated Financial Statements

Your Directors have pleasure in attaching the Consolidated Financial Statements pursuant to the requirement of Section 129 of the Companies Act, 2013 and Regulation 33 & Regulation 34 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (hereinafter referred as Listing Regulations) read with other applicable provisions and prepared in accordance with applicable IND AS, for financial year ended March 31, 2024. The Consolidated Financial Statements form part of this Annual Report.

15. Disclosure of Significant Orders Passed by Regulators or Courts or Tribunal

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Company''s operations in future.

16. Directors Responsibility Statement

Pursuant to Section 134(5) of the Act, the Board, to the best of their knowledge and based on the information and explanations received from the Company, confirm that:

a) in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b) they have selected such accounting policies and applied them consistently and judgements 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;

c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) they have prepared the annual financial statements on a going concern basis;

e) they have laid down internal financial controls to be followed by the Company and such internal financial control are adequate and operating effectively;

f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

17. Changes in Directors and Key Managerial Personnel

As of March 31, 2024, your Company''s Board had 6 (six) members with an optimum combination of executive, non-executive and independent directors. The composition of the Board of Directors of the Company is in accordance with the provisions of Section 149 of the Companies Act, 2013 and Regulation 17 of the SEBI (LODR) Regulations, 2015.

Pursuant to provision of Section 203 of the Act, Mr. Sunil Kumar Jain, Managing Director, Mr. Vikas Kumar Jain, Chief Financial Officer and Mr. Neeraj Anjane, Company Secretary are Key Managerial Personnels of the Company as on March 31, 2024.

In accordance with the provisions of Section 152 of the Act, read with rules made thereunder and Articles of Association of the Company, Mr. Mukesh Kumar Jain (DIN: 00392364) is liable to retire by rotation at the ensuing Annual General Meeting (AGM) and being eligible offers himself for re-appointment.

During the Financial Year 2023-24, the Board has in its meeting held on August 31, 2023, upon recommendation of the Nomination and Remuneration Committee of the Company, approved change in designation of Mr. Naveen Kumar Jain (DIN: 00117876) from Non-Executive to Executive Director of the Company for a period of 3 years effective from November 01, 2023, re-appointed Mr. Sunil Kumar Jain (DIN: 00101324) as Managing Director of the Company for a further period of 3 years effective from November 01, 2023, re-appointed Mr. Bhupendra Singh Bundela (DIN: 06564700) for a further period of 5 years and appointed Ms. Heena Agrawal (DIN: 10097803), as Additional Non-Executive Independent Director for a first term of 5 (five) consequent years effective from August 31, 2023, for which the shareholders have also accorded their approval. Further, Mr. Babu Lal Jain (DIN: 08406723) ceased to be Independent Director effective from the close of business hours on March 29, 2024 consequent to end of his five years term, Mrs. Prakshali Jain (DIN: 06977691), Director and Mr. Ashok Kumar Sethi (DIN: 01784133), Independent Director ceased to be Directors effective from the close of business hours on March 30, 2024 consequent to their resignations and a confirmation was also provided by Mr. Ashok Kumar Sethi (DIN: 01784133), Independent Director in his resignation letter that there are no other material reasons other than those mentioned. Your Board places on record its deep appreciation for the valuable contributions made by them during their tenure in the Company.

The Board recommends the appointment/ re-appointment of above Director(s) for approval of the shareholders, wherever applicable, in the ensuing Annual General Meeting of your Company. Brief details of Director(s) proposed to be appointed/ reappointed, as required under Regulation 36 of the SEBI Listing Regulations, are provided in the Notice of the AGM.

18. Disclosure of Declaration for Disqualifications by Directors

During the year declarations were received from the Directors of the Company pursuant to Section 164 of the Companies Act,

2013. Board appraised the same and found that none of the director is disqualified for holding office as director.

19. Appointment/Re-Appointment of Independent Directors

All the Independent Directors are well appointed in the Board of the Company in compliance with the Companies Act, 2013 and SEBI Listing Regulations. Further, in the opinion of the Board, all our Independent Directors possess requisite qualifications, experience, expertise and hold high standards of integrity for the purpose of Rule 8(5)(iii)(a) of the Companies (Accounts) Rules,

2014. List of key skills, expertise and core competencies of the Board, including the Independent Directors, is provided in Corporate Governance Report forming part of this report.

20. Disclosure of Declaration for Independence by Independent Directors

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed under section 149 of the Act and the Regulation 16(1)(b) and 25(8) SEBI Listing Regulations.

21. Familiarisation Program for Independent Directors

Your Company has familiarised the Independent Directors, with regard to their roles, rights, responsibilities, nature of the industry in which your Company operates, the business model of your Company etc. The Familiarisation Programme was imparted to the Independent Directors during the meetings of the Board of Directors. The details of such programs for Independent Directors are posted on the website of the company and can be accessed at https://shrikrishnadevconlimited.com/wp-content/uploads/2024/08/Familiarization-Programme-SKDL-2023-24.pdf

22. Separate Meeting of Independent Directors

As mandated by Clause VII of Schedule IV of the Companies Act, 2013, a separate meeting of Independent Directors was held on 14.02.2024. The Independent Directors in the said meeting has reviewed the performance of Non-Independent directors and Board as a whole including the performance of the Chairperson of the company after accounting the views of executive directors and non-executive directors and also assessed the quality, quantity and timeliness of flow of information between the management of the listed entity and the board of directors that is necessary for the board of directors to effectively and reasonably perform their duties.

23. Report on Corporate Governance

As stipulated under SEBI Listing Regulations, a separate report on Corporate Governance forms part of this report. A certificate from the Auditors confirming compliance with the conditions of Corporate Governance is annexed to this Report as Annexure-II and forms part of this report.

25. Performance Evaluation and Nomination and Remuneration Policy

Pursuant to section 134(3)(p) of Companies Act 2013 and rule 8(4) of Companies (Accounts) Rules, 2014 and clause 17(10) of SEBI Listing Regulations, the Board has carried out an evaluation of its own performance, the directors individually including Independent Directors as well as the evaluation of its Committees as per the criteria and framework adopted by the Board in the Nomination, Remuneration and Evaluation policy and some indicative criteria includes various aspects of the Boards functioning such as composition of the Board and committees, experience and competencies, performance of specific duties and obligations, contribution at the meetings and otherwise, independent judgment, governance issues, compliance, adherence to policies and code of conduct, interpersonal relations, team work, confidentiality etc. The Directors were satisfied with the evaluation results, which reflected the overall engagement of the Individual Directors, Chairperson, the Board as a whole and its Committees with the Company. The said policy including above said criteria and other matters as per Section 178(3) of the Act is available on the Company''s website and can be accessed at https://shrikrishnadevconlimited.com/code-of-conduct/.

26. Policies

We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our value system. The SEBI Listing Regulations and Companies Act, 2013 has mandated the formulation of certain policies for all listed companies. All our polices are available on our website and can be accessed at https://shrikrishnadevconlimited.com/code-of-conduct/. The policies are reviewed periodically by the board and updated on need and new compliance requirement.

27. Audit Committee

The constitution of the audit committee is provided in the Corporate Governance Report forming part of this Report. Further, the Board has considered all recommendations of the Audit Committee during the year under review and hence, do not call for any disclosure under Section 177(8) of the Companies Act, 2013.

28. Nomination and Remuneration Committee and Stakeholders Relationship Committee

The details pertaining to the composition of the above committees are provided in the Corporate Governance Report forming part of this Report.

29. Statutory Auditors and Auditors Report

The Statutory Auditors have confirmed that they are not disqualified and are eligible to hold office as Statutory Auditors of your Company. Representative of the Statutory Auditors of your Company attended the previous AGM of your Company.

The observation made in the Auditors'' Report read together with relevant notes thereon are self-explanatory and hence, do not call for any further comments under Section 134 of the Companies Act, 2013 and does not contain any qualification, reservation or adverse remark or disclaimer. Further no fraud has been reported by the auditors under sub section (12) of section 143 of the Companies act, 2013.

30. Secretarial Auditor

Pursuant to the provisions of Section 204 of the Act, read with the rules made thereunder, the Board has re-appointed M/s. B.K. Pradhan & Associates, Practicing Company Secretaries, to undertake the Secretarial Audit of the Company. The Secretarial Audit Report for the year under review is annexed to this Report as Annexure-III and forms part of this report. There is no qualification, reservation or adverse remark or disclaimer in Secretarial Audit report except the following with Board explanation:

The Company has not taken any contingency insurance policy to meet out the risk arising out of issuance of duplicate securities pursuant to Para 5 of SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 May 25, 2022: The Company was in process to obtain referred policy but the delay was due to lack of product by insurance company however, the policy was obtained by the company after the closure of financial year i.e. w.e.f. 14.06.2024, no penalty imposed by authority.

Pursuant to Regulation 30(6) read with SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, the Company had made delayed submission of proceedings of the Annual General Meeting held in the year 2023: the Company had made delayed submission of proceedings of the Annual General Meeting held in the year 2023 alongwith an explanation that the delay was inadvertent and also the Company has made a revised filing in reply to the e-mail received from BSE dated April 06, 2024 however, no penalty imposed by authority.

31. Cost Records

Maintenance of cost records has not been specified by the Central Government in terms of provisions of section 148 of the Companies Act, 2013.

32. Particulars of Loans, Guarantees or Investments

There are no loans, investments, guarantees, and security provided during the year in respect of which provisions of section 185 of the Act is applicable. Further, pursuant to Section 186 of the Companies Act, 2013 and Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosure relating to loans/ advances given, guarantees provided and investments made are provided as part of the financial statements.

33. Particulars of Contracts or Arrangements with Related Parties u/s 188

All transactions with related parties are placed before the Audit Committee for its prior approval. An omnibus approval from Audit Committee is obtained for the related party transactions which are repetitive in nature. Your Company has not entered into any transactions with related parties which could be considered material in terms of Section 188 of the Act and accordingly, the disclosure of related party transactions as required under Section 134(3)(h) of the Act, in Form AOC-2, is not applicable. All transactions with related parties entered into during the financial year were in ordinary course of the business and at arm''s length basis. Details of related party transactions entered into by the Company, in terms of Ind AS-24 have been disclosed in the notes to the standalone/ consolidated financial statements forming part of this Report & Annual Accounts 2023-24. The Policy on Related Party Transactions is available on your Company''s website and can be accessed at https://shrikrishnadevconlimited.com/code-of-conduct/.

34. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Considering the nature of activities, Information on Conservation of energy as prescribed under Section 134(3) (m) of the Companies Act, 2013, read with the Companies (Accounts) Rules, 2014 is not applicable.

(a) Conservation of energy

1. The steps taken or impact on conservation of energy - The operations of your Company are not energy intensive. However, adequate measures have been initiated to reduce energy consumption.

2. The steps taken by the Company for utilizing alternate sources of energy - N.A.

3. The capital investment on energy conservation equipment''s - N.A.

(b) Technology absorption

1. The efforts made towards technology absorption - the Company is not engaged in any manufacturing activity, the particulars related to technology absorption are not applicable.

2. The benefits derived like product improvement, cost reduction, product development or import substitution - N.A.

3. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-

a. The details of technology imported - N.A.

b. The year of import; - N.A.

c. Whether the technology been fully absorbed - N.A.

d. If not fully absorbed, areas where absorption has not taken place, and reasons thereof - N.A.

4. The expenditure incurred on Research and Development - N.A.

35. Business Risk Management

The Company has been addressing various risks impacting the Company and the Board of Directors of the Company state that risk associated in the ordinary course of business is duly taken care by the board while taking business decisions. However, the constitution of Risk Management Committee is not applicable to the company, but company has framed the policy for Risk Management and uploaded the same on website of the company and can be accessed at https://shrikrishnadevconlimited.com/.

36. Corporate Social Responsibility (CSR)

Pursuant to provisions of Section 135(9) of the Companies Act 2013, where the amount to be spent by a company under subsection (5) of Section 135 does not exceed Rs. 50 lakhs (Indian Rupees Fifty lakhs), the requirement under sub-section (1) of Section 135 of the Companies Act 2013, constitution of the Corporate Social Responsibility Committee shall not be applicable and the functions of such Committee provided under this section shall, in such cases, be discharged by the Board of Directors of such company. At present company is not required to constitute any CSR committee as CSR amount is less than Rs. 50 Lakhs. The Company''s CSR Policy is posted on the website of the company and can be accessed at https://shrikrishnadevconlimited.com/wp-content/uploads/2024/08/CSR-Policy-SKDL.pdf.

The Company has focused on social cause and implementation of its Corporate Social Responsibility as per Schedule VII of the Companies Act, 2013. During the financial year ended March 31, 2024; the Company has spent Rs. 10.20 Lakhs on CSR activity. Further, detailed information report on the CSR policy and the CSR initiatives taken during financial year 2023-24 is annexed to this Report as Annexure-IV and forms part of this report.

37. Internal Control Systems and their Adequacy

Internal Financial Controls laid down by the Company is a systematic set of controls and procedures to ensure orderly and efficient conduct of its business including adherence to the Company''s policies, safeguarding of its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records and timely preparation of reliable financial information. The Board is of the opinion that internal financial controls with reference to the financial statements were tested and reported adequate and operating effectively. The internal financial controls are commensurate with the size, scale and complexity of operations.

38. Vigil Mechanism

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 and Listing Regulations, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at https://shrikrishnadevconlimited.com/wp-content/uploads/2023/02/Policy-on-Vigil-Mechanism.pdf under policy section at the website of the company.

39. Commission Received by Directors from Holding and Subsidiary

During the year under review neither the Managing Director nor Whole-time Director is in receipt of commission from the company and also has not received any remuneration or commission from any holding or subsidiary of company u/s 197(14).

40. Managerial Remuneration

The information required pursuant to Section 197 of the Act read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, in respect of employees of the Company and Directors is furnished hereunder:

1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year;

Name of Director	Ratio to median Remuneration
Mr. Sunil Kumar Jain, Managing Director	20.65: 1
Mr. Naveen Kumar Jain, Director	7.56: 1
Other than above none of the directors were paid any remuneration during the year.
2. The percentage increase in remuneration of each director, chief financial officer, chief executive officer, company secretary or manager, if any, in the financial year;
Sr. No. Name	Percentage Increase
1 Mr. Sunil Kumar Jain, Managing Director 2 Mr. Naveen Kumar Jain, Executive Director 3 Mr. Vikas Kumar Jain, Chief Financial Officer 4 Mr. Neeraj Anjane, Company Secretary	33.33 No remuneration during previous year 33.33

Other than above none of the directors/ kmp s were paid any remuneration during the year.

3. The percentage increase in the median remuneration of employees in the financial year was 58.80;

4. The number of permanent employees on the rolls of company as on 31.03.2024 was 9;

5. Average Percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year and its comparison with the percentile increase in the managerial remuneration and justification thereof;

The average increase in the salaries of employees other than the managerial personnel for FY 2023-24 was 28.57% and the average increase in remuneration of managerial personnel was 33.33%. The Company is in real estate sector and comprises a small team of professionals & managers and for the development of projects we engage the services of consultants, contractors and sub-contractors who work on company''s projects and who also employ skilled, unskilled and semi-skilled workers. The Company reiterates that there were no exceptional circumstances which warranted an increase in managerial remuneration which was not justified by the overall performance of the Company. The increase in remuneration is dependent on the overall performance of the Company, employee and the industry standards.

6. It is hereby affirmed that the remuneration paid by the Company to its Directors, KMP''s and Employees during the year under review is as per the Nomination & Remuneration Policy of the company.

7. None of the employee has received remuneration of Rupees Eight Lakhs and Fifty Thousand per month or Rupees One Crores Two Lakhs per year or at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company. Details of top ten employees in terms of the remuneration and employees in receipt of remuneration as prescribed under rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, as amended, containing details prescribed under rule 5(3) of the said rules, will be made available to any member on request, as per provisions of Section 136(1) of the Act.

41. Equity Shares with Differential Voting Rights

The company has not issued any shares with differential voting rights and accordingly the provisions of Section 43 read with Rule 4(4) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

42. Details of Sweat Equity Shares

The company has not issued any sweat equity shares and accordingly the provisions of Section 54 read with Rule 8(13) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

43. Disclosure on Confirmation with Secretarial Standards

The Directors confirm that the Secretarial Standards issued by the Institute of Company Secretaries of India to be complied pursuant to the Companies Act, 2013 and rules made there under, have been duly complied with.

44. Details of Employees Stock Option Scheme

The company has not granted stock options and accordingly the provisions of Section 62(1)(b) read with Rule 12(9) of the Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

45. Disclosure of Voting Rights Not Exercised

The company has not made any provision of money for the purchase of, or subscription for, shares in the company or its holding company, if the purchase of, or the subscription for, the shares by trustees is for the shares to be held by or for the benefit of the employees of the company and accordingly the provisions of Chapter IV (Share Capital and Debentures) of the Companies Act, 2013 and rules framed there under are not applicable for the year.

46. Depository

Equity shares of the Company are traded in Demat form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year 2024-25 has been paid by the Company to NSDL and CDSL.

47. Management Discussion and Analysis

The Management Discussion and Analysis report has been separately furnished and forms part of this report.

48. Cash Flow Statement

In conformity with the provisions of the Companies Act, 2013 and Regulation 34(2) of the SEBI Listing Regulations, the cash flow statement for the year ended March 31, 2024 annexed in financial statements.

49. Number of Meetings of the Board and its Committees

The details of the meetings of the Board of Directors and its Committees are provided in the Corporate Governance Report forming part of this Report.

50. Obligation of Company under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

In order to prevent sexual harassment of women at work place under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the company has set up Internal Complaints Committee(s) to look into complaints relating to sexual harassment at work place of any women employee. Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. During the year under review the Company has neither received any complaint of harassment nor any complaints pending there under.

51. Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information

Pursuant to Regulation 8 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 the Board of Directors has formulated and adopted the "Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information" (Code of Fair Disclosure) of the Company.

52. Other Disclosures

-The Business Responsibility Reporting as required by Regulation 34(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, is not applicable to your Company for the financial year ending March 31, 2024.

- No application was made or any proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the year in respect of your Company.

- There was no one time settlement of loan obtained from the Banks or Financial Institutions.

- After the closing of financial year, the Board of your Company has approved the shifting of Registered Office of the Company within the local limits of the city from its current location to Morya Grand, 1101, 11th Floor, Near Infinity Mall, Off New Link Road, Andheri West, Mumbai 400053 MH with effect from August 30, 2024.

53. Acknowledgement and Appreciation

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers, contractors and other associates for their continued support to the Company. The Board of Directors place on record sincere gratitude and appreciation for all the employees at all levels for their hard work, solidarity, cooperation and dedication during the year. We look forward to their continued support in the future.

For and on Behalf of the Board of Directors Shri Krishna Devcon Limited

Place: Indore

Date: September 02, 2024

Sunil Kumar Jain Naveen Kumar Jain

Chairman & MD Director

DIN: 00101324 DIN: 00117876

Mar 31, 2023

Your directors are pleased to present the 29th Annual Report along with the Audited Financial Statements of your Company for the financial year ended March 31, 2023 (FY 2022-23).

1. Financial Performance

The Audited Financial Statements of your Company as on March 31, 2023, are prepared in accordance with the relevant applicable Ind AS and Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations") and the provisions of the Companies Act, 2013 ("Act").

The summarized financial highlight is depicted below:

Particulars	Standalone		Consolidated
Particulars	2022-23	2021-22	2022-23	2021-22
Total Revenue	3219.21	2128.62	3219.21	2128.62
Total Expenses	2557.72	1767.79	2557.72	1767.79
Profit / (Loss) before exceptional items & tax	661.49	360.83	661.49	360.83
Exceptional items	0.00	0.00	0.00	0.00
Profit / (Loss) before Tax	661.49	360.83	661.49	360.83
Total Tax Expenses	179.22	83.66	179.22	83.66
Profit / (Loss) after Tax	482.26	277.17	482.26	277.17
Other comprehensive income (net of tax)	0.00	0.00	0.00	0.00
Total comprehensive income for the year	482.26	277.17	482.26	277.17

2. Operational Highlights and State of Company''s Affairs

During the financial year 2022-23, total revenue on standalone as well as on consolidated basis increased to Rs. 3219.21 Lakhs as against Rs. 2128.62 Lakhs in the previous year - a rise of 51.23% recorded; Profit before Tax for the current year is Rs. 661.49 Lakhs as against Rs. 360.83 Lakhs in the previous year - a rise of 83.32% recorded and the total comprehensive income stood at Rs. 482.26 Lakhs as against Rs. 277.17 Lakhs for the previous year - a rise of 73.99% recorded.

3. Segment Performance

The Company has evaluated its Operating segments in accordance with Ind AS 108 and has concluded that it is engaged in a single operating segment viz. real estate business.

4. Changes in the nature of business, if any

There has been no change in nature of business of your Company.

5. Reserves

During the year under review, no amount was transferred to General Reserve.

6. Dividend

The Company continues to look at growth prospects through new investment opportunities. The past years of the pandemic has presented many challenges, and it is imperative that the Company looks at available options for its growth. The key objective of the Company is to achieve a consistent sustainable growth over the years to come and consolidate the Company''s position. Keeping in view the growth strategy of the Company, the Board of Directors has decided that it would be prudent not to recommend any dividend for the year under review.

7. Subsidiary, Associate and Joint Venture Companies, their highlights of performance and their contribution to overall performance of the company

Subsidiary - Partnership Firm M/s. Shri Krishna Buildcon

Associate - Partnership Firms M/s. Avani Buildcon, M/s. Krishna Developers, M/s. Maa Shipra Enterprises and M/s. Rose Builtech

There has been no material change in the nature of the business of the subsidiary and associates. M/s. Krishna Developers an associate partnership firm has been dissolved effective from April 01, 2023.

There is no material subsidiary as per the thresholds laid down under the SEBI (Listing Obligation and Disclosure Requirements), Regulation, 2015.

9. Share Capital and Listing

The paid-up equity capital as on March 31, 2023 was Rs. 2800.00 Lakhs. As on date all the 2,80,00,000 (Two Crores and Eighty Lakhs) Equity Shares of the Company are listed on the BSE Limited. The Listing fees have been paid to the BSE Limited for the year 2023-24.

10. Web-link for annual return

Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, the Annual Return is available on the website of the Company at https://shrikrishnadevconlimited.com/annual-report/.

11. Revision in Financial Statements

12. Deposits

Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013, read with the Companies (Acceptance of Deposits) Rules, 2014 as amended from time to time and no amount on account of principal or interest on public deposits was outstanding as on the date of the balance sheet. However, company is having unsecured loan of Rs. 885.28 Lakhs as on March 31, 2023 from Directors of the company for which proper declaration has been furnished by them as required under Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period under review.

13. Material changes and commitments

14. Consolidated Financial Statements

Your Directors have pleasure in attaching the Consolidated Financial Statements pursuant to the requirement of Section 129 of the Companies Act, 2013 and Regulation 33 & Regulation 34 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 (hereinafter referred as Listing Regulations) read with other applicable provisions and prepared in accordance with applicable IND AS, for financial year ended March 31, 2023. The Consolidated Financial Statements form part of this Annual Report.

15. Disclosure of Significant Orders Passed by Regulators or Courts or Tribunal

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Company''s operations in future.

16. Directors Responsibility Statement

Pursuant to Section 134(5) of the Act, the Board, to the best of their knowledge and based on the information and explanations received from the Company, confirm that:

a) in the preparation of the annual financial statements, the applicable accounting standards have been followed and there are no material departures;

b) they have selected such accounting policies and applied them consistently and judgements 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 FY 2022-23 and of the profit of the Company for that period;

d) they have prepared the annual financial statements on a going concern basis;

e) they have laid down internal financial controls to be followed by the Company and such internal financial control are adequate and operating effectively;

f) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

17. Changes in Directors and Key Managerial Personnel

As of March 31, 2023, your Company''s Board had 8 (eight) members with an optimum combination of executive and nonexecutive directors. The composition of the Board of Directors of the Company is in accordance with the provisions of Section 149 of the Companies Act, 2013 and Regulation 17 of the SEBI (LODR) Regulations, 2015.

During the Financial Year 2022-23, there was no change in the Directors of the Company.

In accordance with the provisions of Section 152 of the Act, read with rules made thereunder and Articles of Association of the Company, Mr. Naveen Kumar Jain (DIN: 00117876) is liable to retire by rotation at the ensuing Annual General Meeting (AGM) and being eligible offers himself for re-appointment.

Subsequent to closure of the year under review, the Board has in its meeting held on August 31, 2023, upon recommendation of the Nomination and Remuneration Committee of the Company, approved change in designation of Mr. Naveen Kumar Jain (DIN: 00117876) from Non-Executive to Executive Director of the Company for a period of 3 years effective from November 01, 2023, re-appointed Mr. Sunil Kumar Jain (DIN: 00101324) as Managing Director of the Company for a further period of 3 years effective from November 01, 2023, re-appointed Mr. Bhupendra Singh Bundela (DIN: 06564700) for a further period of 5 years and appointed Ms. Heena Agrawal (DIN: 10097803), as Additional Non-Executive Independent Director for a first term of 5 (five) consequent years effective from August 31, 2023, subject to approval of the shareholders of the Company.

The Board recommends the appointment/ re-appointment of above Director(s) for approval of the shareholders, in the ensuing Annual General Meeting of your Company. Brief details of Director(s) proposed to be appointed/ re-appointed, as required under Regulation 36 of the SEBI Listing Regulations, are provided in the Notice of the AGM.

18. Disclosure of Declaration for Disqualifications by Directors

During the year declarations were received from the Directors of the Company pursuant to Section 164 of the Companies Act,

2013. Board appraised the same and found that none of the director is disqualified for holding office as director.

19. Appointment/Re-Appointment of Independent Directors

2014. List of key skills, expertise and core competencies of the Board, including the Independent Directors, is provided in Corporate Governance Report forming part of this report.

20. Disclosure of Declaration for Independence by Independent Directors

21. Familiarisation Program for Independent Directors

Independent Directors are posted on the website of the company and can be accessed at

https://shrikrishnadevconlimited.com/wp-content/uploads/2023/08/Details-of-Familiarization-Programmes-for-Independent-

Directors-SKDL-2022-23.pdf

22. Separate Meeting of Independent Directors

As mandated by Clause VII of Schedule IV of the Companies Act, 2013, a separate meeting of Independent Directors was held on 14.02.2023. The Independent Directors in the said meeting has reviewed the performance of Non-Independent directors and Board as a whole including the performance of the Chairperson of the company after accounting the views of executive directors and non-executive directors and also assessed the quality, quantity and timeliness of flow of information between the management of the listed entity and the board of directors that is necessary for the board of directors to effectively and reasonably perform their duties.

23. Report on Corporate Governance

25. Performance Evaluation and Nomination and Remuneration Policy

26. Policies

We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our value system. The SEBI Listing Regulations and Companies Act, 2013 has mandated the formulation of certain policies for all listed companies. All our corporate governance polices are available on our website and can be accessed at https://shrikrishnadevconlimited.com/code-of-conduct/. The policies are reviewed periodically by the board and updated on need and new compliance requirement.

27. Audit Committee

28. Nomination and Remuneration Committee and Stakeholders Relationship Committee

The details pertaining to the composition of the above committees are provided in the Corporate Governance Report forming part of this Report.

29. Statutory Auditors and Auditors Report

The present Statutory Auditors M/s. Khandelwal & Khandelwal Associates, Chartered Accountants (Firm''s Registration No. 008389C) appointed in the 28th Annual General Meeting ("AGM") held during the year under review for a term of five consecutive years i.e., upto 33rd AGM pursuant to expiry of the term of M/s. MAK & Associates, Chartered Accountants (Firm''s Registration No. 003060C), as Statutory Auditors of the Company.

30. Secretarial Auditor

There is no qualification, reservation or adverse remark or disclaimer in Secretarial Audit report except the following with Board explanation:

Pursuant to Para 5 of SEBI Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/CIR/2022/70 May 25, 2022, the Company has not taken any contingency insurance policy to meet out the risk arising out of issuance of duplicate securities: The Company is in process to obtain referred policy but till date no insurance company is agreed to provide the same.

31. Cost Records

Maintenance of cost records has not been specified by the Central Government in terms of provisions of section 148 of the Companies Act, 2013.

32. Particulars of Loans, Guarantees or Investments

There are no loans, investments, guarantees, and security in respect of which provisions of section 185 of the Act is applicable. Further, pursuant to Section 186 of the Companies Act, 2013 and Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, disclosure relating to loans/ advances given, guarantees provided and investments made are provided as part of the financial statements.

33. Particulars of Contracts or Arrangements with Related Parties u/s 188

The Policy on Related Party Transactions is available on your Company''s website and can be accessed at https://shrikrishnadevconlimited.com/code-of-conduct/.

34. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Considering the nature of activities, the Company is engaged into, the Company is not required to furnish information as required under the provisions of section 134(3)(m) of the Companies Act, 2013 read with the rule 8(3) of the Companies (Accounts) Rules, 2014.

The operations of your Company are not energy intensive. However, adequate measures have been initiated to reduce energy consumption. During the year, there was neither inflow nor outflow of foreign exchange.

35. Business Risk Management

36. Corporate Social Responsibility (CSR)

The provisions of section 135 and Schedule VII of the Act in respect to CSR were not applicable on your Company during the year under review. However, the same became applicable in the current financial year 2023-24 and the Company shall comply with the provisions of CSR in current financial year.

37. Internal Control Systems and their Adequacy

The details in respect of internal financial control and their adequacy are included in the Management Discussion and Analysis which forms part of this report.

38. Vigil Mechanism

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 and Listing Regulations, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at https://shrikrishnadevconlimited.com/code-of-conduct/ under policy section at the website of the company.

39. Commission Received by Directors from Holding and Subsidiary

40. Managerial Remuneration

1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial

Name of Director Ratio to median Remuneration Sunil Kumar Jain, Managing Director 28.8 : 1 Other than above none of the directors were paid any remuneration during the year.

2. The percentage increase in remuneration of each director, chief financial officer, chief executive officer, company secretary or manager, if any, in the financial year;

Sr. No. Name Percentage Increase

1 Mr. Sunil Kumar Jain (MD) -

2 Mr. Vikas Kumar Jain (CFO) -

3 Mr. Neeraj Anjane (CS) -

Other than above none of the directors/kmp''s were paid any remuneration during the year.

The company is having net profit during the financial year i.e., 2022-23. The remuneration of the KMP''s is duly reviewed on annual basis keeping in mind the tenure, the past performance and current performance.

3. The percentage increase in the median remuneration of employees in the financial year was (22.48%);

4. The number of permanent employees on the rolls of company as on 31.03.2023 was 9;

Remuneration paid to employees excluding managerial personnel for the FY 2021-22 Rs. 2415510 Remuneration paid to employees excluding managerial personnel for the FY 2022-23 Rs. 2662196 % Change in remuneration paid to employees excluding managerial personnel 10.21 Remuneration paid to managerial personnel for the FY 2021-22 Rs. 7912000 Remuneration paid to managerial personnel for the FY 2022-23 Rs. 7944000 % Change in remuneration paid to managerial personnel 0.40

The Company reiterates that there were no exceptional circumstances which warranted an increase in managerial remuneration which was not justified by the overall performance of the Company.

6. During the year no variable component of remuneration availed by Directors of the Company;

7. It is hereby affirmed that the remuneration paid by the Company to its Directors, KMP''s and Employees during the year under review is as per the Nomination & Remuneration Policy of the company.

8. None of the employee has received remuneration of Rupees Eight Lakhs and Fifty Thousand per month or Rupees One Crores Two Lakhs per year or at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company.

9. Statement showing name of top ten employees in terms of remuneration drawn (as per sub rule 3 of Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 as amended from time to time: -

Particulars	Sunil Kumar Jain	Sudeep Jain	Vikas Kumar Jain	Neeraj Anjane	Rajvardhan Singh Sodha
Designation of the employee Remuneration received	Managing Director	Head Operations	Chief Financial Officer	Company Secretary	Accounts Assistant
Designation of the employee Remuneration received	7200000	1500000	384000	360000	277500
(amount in Rs.) Nature of employment, whether contractual or	otherwise	otherwise	otherwise	otherwise	otherwise
otherwise		B. Com, Diploma
Qualifications and experience of the employee	M.Com & 26 years of experience	in International Marketing & Import & Export Management & 18 years of experience	M.Com, CA (Inter) & 16 years of experience	B. Com, CS & 8 years of experience	B. Com & 6 years of experience
Date of commencement of employment	09/08/2007	01/10/2013	01/01/2013	01/04/2017	01/05/2014
The age of such employee	53 Years	48 Years	43 Years	32 Years	30 Years
The last employment held
by such employee before joining the company The percentage of equity				Soya Pvt. Ltd.
shares held by the employee in the company within the meaning of	6.86	Nil	0.018	Nil	Nil
clause (iii) of sub-rule (2) of Rule 5	Brother of Mr.
Whether any such	Mukesh K. Jain and
employee is a relative of	Mr. Naveen K. Jain	No	No	No	No
any director or manager	and Father of Mrs. Prakshali Jain

Manoj Piple	Raksha Yadav**	Priyanshi Jain**	Santosh Sitaram*	Ankit Kumar
Marketing Assistant	Sales Assistant	Accounts Assistant	Office Assistant	Office Assistant
250000	187335	111533	139330	120000
otherwise	otherwise	otherwise	otherwise	otherwise
B. Com & 15 years of	M.Sc. & PhD (Pursuing) & 6	B.com & 3 years of	11^th & 8 years of	8^th & 4 years of
experience	years of experience	experience	experience	experience
01/12/2016	01/01/2020	01/10/2019	05/05/2017	01/10/2021
42 Years	29 Years Victory Terminal Financial	22 Years	30 Years	24 Years
^-	Service	Jai Gruh Udyog	^-	Croma
Nil	Nil	Nil	Nil	Nil
No	No	No	No	No

*Discontinued services and joined back. **Discontinued services

41. Equity Shares with Differential Voting Rights

42. Details of Sweat Equity Shares

43. Disclosure on Confirmation with Secretarial Standards

44. Details of Employees Stock Option Scheme

45. Disclosure of Voting Rights Not Exercised

46. Depository

Equity shares of the Company are traded in Demat form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year 2023-24 has been paid by the Company to NSDL and CDSL.

47. Management Discussion and Analysis

The Management Discussion and Analysis report has been separately furnished and forms part of this report.

48. Cash Flow Statement

In conformity with the provisions of the Companies Act, 2013 and Regulation 34(2) of the SEBI Listing Regulations, the cash flow statement for the year ended March 31, 2023 annexed in financial statements.

49. Number of Meetings of the Board and its Committees

The details of the meetings of the Board of Directors and its Committees are provided in the Corporate Governance Report forming part of this Report.

50. Obligation of Company under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

51. Code of Practices and Procedure for Fair Disclosure of Unpublished Price Sensitive Information

52. Other Disclosures

- No application was made or any proceeding is pending under the Insolvency and Bankruptcy Code, 2016 during the year in respect of your Company.

- There was no one time settlement of loan obtained from the Banks or Financial Institutions.

53. Acknowledgement and Appreciation

For and on Behalf of the Board of Directors Shri Krishna Devcon Limited

Place: Indore Date: August 31, 2023

Sunil Kumar Jain Naveen Kumar Jain

Chairman & MD Director

DIN: 00101324 DIN: 00117876

Mar 31, 2018

BOARDâS REPORT:

Dear Shareholders,

The Directors have pleasure in presenting the Twenty Fourth Annual Report along with the Audited Accounts and Financial Statements (including consolidated financial statements) for the year ended on 31st March, 2018.

Financial Results (Standalone & Consolidated):

The summarized Standalone & Consolidated financial results of the Company for the year ended 31st March, 2018 are as follows:

Standalone Financial Results-

(Rs. In Lakhs)

Particulars	2017-18	2016-17
Total Revenue	3321.08	2230.76
Total Expenses	2888.53	1931.44
Profit before exceptional items & tax	432.55	299.32
Exceptional items	0.00	0.00
Profit before Tax	432.55	299.32
Tax Expenses	181.86	99.21
Other comprehensive income (net oftax)	(7.45)	10.52
Total comprehensive income for the year	243.24	210.63

Consolidated Financial Results-

(Rs. In Lakhs)

Particulars	2017-18	2016-17
Total Revenue	3321.08	2230.76
Total Expenses	2888.53	1931.44
Profit before exceptional items & tax	432.55	299.32
Exceptional items	0.00	0.00
Profit before Tax	432.55	299.32
Tax Expenses	181.86	99.21
Other comprehensive income (net of tax)	(7.45)	10.52
Total comprehensive income for the year	243.24	210.63

Pursuant to the notification dated February 16,2015 issued by the Ministry of Corporate Affairs, the Company has adopted the Indian Accounting Standards (âInd ASâ) notified under the Companies (Indian Accounting Standards) Rules, 2015 with effect from April 1, 2017. Financial Statements for the year ended at March 31,2017 have been restated to conform to Ind AS.

Operational Performance:

During the financial year 2017-18, total revenue on standalone as well as on consolidated basis increased to Rs. 3,321.08 Lakhs as against Rs. 2,230.76 in the previous year - a growth of 47% recorded; Profit before Tax for the current year is Rs. 432.55 Lakhs as against Rs. 299.32 Lakhs in the previous year -a growth of 45% recorded and the total comprehensive income stood at Rs. 243.24 Lakhs as against Rs. 210.63 Lakhs for the previous year - a growth of 15% recorded.

Segment Performance:

At present Company is engaged in the business of real estate development and there is no separate reportable segment. Changes in the nature of business, if any There were no Changes as such in the Company for the year under review.

Extract of Annual Return:

As per the requirements of Section 92(3) of the Act, the extract of the annual return is given in ANNEXURE-I in the prescribed Form No. MGT-9, which is a part of this report.

Subsidiary, Associate and Joint Venture Companies: Subsidiary â

(i) M/s Shri Krishna Buildcon (Partnership Firm)

Associate - (i) M/s Avani Buildcon (Partnership Firm)

(ii) M/s Krishna Developers (Partnership Firm)

(iii) M/s Maa Shipra Enterprises (Partnership Firm)

(iv) M/s Rose Buildtech (Partnership Firm)

Joint Ventures - NIL

Highlights of performance of Subsidiary, Associate and Joint Venture Companies and their contribution to overall performance ofthe company:

For highlights & performance kindly refer Form AOC-1 is enclosed h/w this report as ANNEXURE- II.

Share Capital:

The paid up equity capital as on March 31, 2018 was Rs. 28,00,00,000/- Crores.

Revision in Financial Statements:

In terms of section 131 of the Companies Act, 2013, the Financial Statements and Boardâs Report are in compliance with the provisions of section 129 or section 134 ofthe act and that no revision has been made during any of the three preceding Financial Years.

Reserves:

During the year under review, No amount was transferred to General Reserve.

Dividend:

To keep up pace with the newly launched Government Schemes i.e. Housing for all 2022 and Credit Linked Subsidy Scheme your Company believes there is considerable opportunity for your Company to add new projects at attractive valuation. With these kinds of opportunities available and with our ambition to considerably scale the business and in order to conserve cash the Board of Directors therefore not recommended any dividend for the financial year ended 31st March, 2018.

Deposits:

The Company has neither accepted nor invited any deposit from the public and hence directives issued by Reserve Bank of India and the provisions of Chapter V (Acceptance of deposits by Companies) of the Companies Act, 2013 and rules framed there under are not applicable for the year.

However company is having unsecured loan of Rs. 243.39 Lakhs as on 31st March, 2018 from Directors of the company for which proper declaration has been furnished by them as required under Rule 2(viii) of the Companies (Acceptance of Deposits) Rules, 2014 during the period under review. Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report:

There were no Material changes affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report.

Directors Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013, Directors of your Company hereby state and confirm that:

a) In the preparation of the annual accounts for the year ended 31st March, 2018 , the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) They have 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 the same period;

c) The directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls in the Company that are adequate and were operating effectively.

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

Changes in Directors and Key Managerial Personnel:

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association, Mrs. Prakshali Jain (DIN 06977691), Non-Executive Director retire by rotation at this Annual General Meeting and being eligible offers herself for reappointment.

In compliance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, brief resume, expertise and other details of Director proposed to be appointed/re-appointed are attached along with the Notice to the ensuing Annual General Meeting. The board has duly appointed Mr. Neeraj Anjane as Company Secretary and Compliance Officer of the Company w.e.f. 01.04.2017.

Disclosure of Declaration for Disqualifications by Directors:

As per the declaration received in Form âD1R-8â pursuant to section 164(2) of the Companies Act, 2013 and Rule 14(1) of Companies (Appointment and Qualification of Directors) Rules, 2014; none of the Directors of the Company is disqualified from being appointment as Directors. Appointment/Re-Appointment of Independent Directors: All the Independent Directors are well appointed in the Board of the Company in compliance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 entered into by the Company with Stock Exchange(s). Further that all independent directors shall hold office for a term up to five consecutive years on the Board of a Company, but shall be eligible for reappointment for next five years on passing of a special resolution by the Company and disclosure of such appointment in the Boardâs report. Disclosure of Declaration for Independence by Independent Directors:

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence under sub-section (6) of section 149 ofthe Companies Act, 2013.

Familiarization Program for Independent Directors:

The Independent Directors are provided with necessary documents/ brochures, reports and internal policies, Quarterly updates on relevant statutory, regulatory changes, visits to the site of the company are organised for the Independent Directors. Detailed information on the Companyâs business are made at the meetings of the Independent Directors from time to time. The details of such programs for Independent Directors are posted on the website of the company and can be accessed at http://shrikrishnadevconlimited.com/wp-content/upIoads/2015/12/Details-of-FamiIiarization-Programme-for-Independent-Directors-SKDL-2017-18.pdf Separate Meeting of Independent Directors:

As mandated by Clause VII of Schedule IV of the Companies Act, 2013, a separate meeting of Independent Directors was held on 20th of March, 2018.

Evaluation by Independent Directors:

The Independent Directors in their meeting has reviewed the performance of Non-Independent directors and Board as a whole including reviewing the performance of the Chairperson of the company taken into account the views of Executive Directors and Non-Executive Directors. The said policy including above said criteria for the evaluation of the Board, individual directors including independent directors and the committee of the board has been laid down under Nomination, Remuneration and Evaluation Policy given in the Report on Corporate Governance which is annexed as ANNEXURE-IV with this report and shall form part of the Boardâs report.

Formal Annual Evaluation:

Pursuantto section 134 (3) (p) of Companies act 2013 and rule 8(4) of Companies (Accounts) Rules, 2014 and clause 17(10) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an evaluation of its own performance, the directors individually as well as the evaluation of its Committees as per the criteria laid down in the Nomination, Remuneration and Evaluation policy. The said policy including above said criteria for the evaluation of the Board, individual directors including independent directors and the committee ofthe board has been given in the Report on Corporate Governance which is annexed as ANNEXURE-IV with this report and shall form part ofthe Boardâs report. Disclosure in Terms of Nomination and Remuneration Policy:

The Companyâs policy on directorsâ appointment and remuneration and other matters provided in Section 178(3) of the Act has been disclosed in the Corporate Governance Report which is annexed as ANNEXURE-IV with this report and shall form part of the Boardâs report also the policy is available on the Companyâs website i.e. http://shrikrishnadevconlimited.com/code-of-conduct/ Policies:

We seek to promote and follow the highest level of ethical standards in all our business transactions guided by our value system. The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Companies Act, 2013 has mandated the formulation of certain policies for all listed companies. All our corporate governance polices are available on our website (http://shrikrishnadevconlimited.com/code-of-conduct/). The policies are reviewed periodically by the board and updated on need and new compliance requirement. Nomination and Remuneration Committee and Stakeholders Relationship Committee:

The details pertaining to the composition of the above committees are included in the Corporate Governance Report which is annexed as ANNEXURE-IV with this report and shall form part ofthe Boardâs report.

Auditors:

Statutory Auditors-

M/s. MAK & Associates, Chartered Accountants were appointed as the Statutory Auditors of the Company in the 23rd AGM held on 20th September, 2017, for a term of Five consecutive years. As per the provisions of Section 139 of the Companies Act, 2013, the appointment of Auditors is required to be ratified by Members at every Annual General Meeting.

In accordance with the Companies Amendment Act, 2017, enforced on 7th May, 2018 by the Ministry of Corporate Affairs, the appointment of Statutory Auditors is not required to be ratified at every Annual General Meeting.

The observation made in the Auditorsâ Report read together with relevant notes thereon are self explanatory and hence, do not call for any further comments under Section 134 of the Companies Act, 2013. Further no fraud has been reported by the auditors under sub section (12) of section 143 of the Companies act, 2013.

Secretarial Auditor-

The Company has undertaken Secretarial Audit for the financial year 2017-18 which, inter alia, includes audit of compliance with the Companies Act, 2013, and the Rules made under the Act, Listing Regulations and applicable Regulations prescribed by SEBI and Foreign Exchange Management Act, 1999 and Secretarial Standards issued by the Institute of the Company Secretaries of India. The Secretarial Audit Report is annexed as ANNEXURE-V with this report and shall form part of the Boardâs report. Further, observation made in the Auditorsâ Report read together with relevant notes thereon are self explanatory and hence, do not call for any further comments under Section 134 ofthe Companies Act, 2013 Particulars of Loans, Guarantees or Investments u/s 186: The company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013. The details of the investments held by company are given in the notes to the financial statements.

Particulars of Contracts or Arrangements with Related Parties u/s 188:

During the period under review there were no related party transactions in the Company as per the provisions of section 188 ofthe Companies act, 2013.

The Board of Directors of the Company has, on the recommendation of the Audit Committee, adopted a policy to regulate transactions between the Company and its Related Parties, in compliance with the applicable provisions of the Companies Act, 2013, the Rules there under and the Listing Regulations. This Policy was considered and approved by the Board has been uploaded on the website of the Company at http://www.shrikrishnadevconlimited.com/ under Investors Relation/Code of Conduct/Related Party Policy link. Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:

As the Company is not a manufacturing Company, the Board of Directors has nothing to report on conservation of Energy and Technology absorption, Information required under section 134(3)(m) ofthe Companies Act, 2013 read with Rule 8 ofthe Companies (Accounts) Rules, 2014.

(a) Conservation of energy

i. The steps taken or impact on conservation of energy -N. A.

ii. The steps taken by the Company for utilizing alternate sources of energy - N.A.

iii. The capital investment on energy conservation equipmentâs - N.A.

(b) Technology absorption

i. The efforts made towards technology absorption -N.A.

ii. The benefits derived like product improvement, cost reduction, product development or import substitution - N.A.

iii. in case of imported technology (imported during the last three years reckoned from the beginning ofthe financial year)-

1. The details of technology imported -N.A.

2. The year of import;- N.A.

3. Whether the technology been fully absorbed-N.A.

4. If not fully absorbed, areas where absorption has not taken place, and the reasons thereof- N.A.

iv. The expenditure incurred on Research and Development - N.A.

Business Risk Management:

The Company has been addressing various risks impacting the Company and the Board of Directors ofthe Company state that risk associated in the ordinary course of business is duly taken care by the board while taking business decisions. However, the constitution of Risk Management Committee is not applicable to the company, but company has framed the policy for Risk Management and uploaded the same on website ofthe company, at http://www.shrikrishnadevconlimited.com. Corporate Social Responsibility (CSR):

The provisions of section 135 and Schedule VII of the Companies Act, 2013 in respect to CSR is not applicable on your Company.

Disclosure of Significant Orders Passed by Regulators or Courts or Tribunal:

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Companyâs operations in future.

Internal Control Systems and Their Adequacy:

The details in respect of internal financial control and their adequacy are included in the Management Discussion and Analysis which is annexed as ANNEXURE-III with this report and shall form part ofthe Boardâs report.

Audit Committee:

The constitution of the audit committee is given in the Report on Corporate Governance which is annexed as ANNEXURE-IV with this report and shall form part of the Boardâs report.

The Board has considered all recommendations of the Audit Committee as and when provided during the year under review and hence, do not call for any disclosure under Section 177 (8) of the Companies Act, 2013.

Vigil Mechanism:

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 and Listing Regulations, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at http://www.shrikrishnadevconlimited.com/ under Investors Relation/Code of Conduct/Vigil Mechanism Policy link. Commission Received by Directors from Holding and Subsidiary:

Managerial Remuneration:

The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Companies (Particulars of Employees) Rules, 1975, in respect of employees of the Company and Directors is furnished hereunder:

1. The ratio of the remuneration of each director to the median remuneration of the employees of the company for the financial year and;

2. The percentage increase in remuneration of each director, Chief Financial Officer, Chief Executive Officer, Company Secretary or Manager, if any, in the financial year;

Sr. No.	Name	Designation	Remuneration Paid F.Y. 2016-17 (Rs. In lakhs)	Remuneration Paid F.Y. 2017-18 (Rs. In lakhs)	Percentage Increase	Ratio/ Times per Median of employee remuneration
1	Mr. Sunil Kumar Jain	Managing Director	42.00	58.00	38.1	24.62
2	Mr. Naveen Kumar Jain	Non-Executive Director	-	-	-	-
3	Mr. Mukesh Kumar Jain	Non-Executive Director	-	-	-	-
4	Ms. Prakshali Jain	Women Director	-	-	-	-
5	Mr. Vikas Kumar Jain	Chief Financial Officer	3.84	3.84	-	-
6	Mr. Prateek Ghatiya*	Company Secretary	0.15	-	-	-
7	Mr. Qamar Ali**	Company Secretary	2.62	-	-	-
8	Mr. Neeraj Anjane	Company Secretary	-	3.15	-	-

* Mr. Prateek Ghatiya resigned w.e.f03.05.2016;

** Mr. QamarAli appointed w.e.f. 03.05.2016 & resigned w.e.f30.03.2017. ***Mr. Neeraj Anjane appointed w.e.f. 01.04.2017.

The company is having net profit during the current financial year i.e. 2017-18. The remuneration of the KMPâs are duly reviewed on annual basis keeping in mind the tenure, the past performance and current performance.

3. The percentage increase in the median remuneration of employees in the financial year was 98.98%;

4. The number of permanent employees on the rolls of company as on 31.03.2018 was 14;

Remuneration paid to employees excluding managerial personnel for the 2016-17	Remuneration paid to employees excluding managerial personnel for the 2017-18	% Change in remuneration paid to employees excluding managerial personnel	Remuneration paid to managerial personnel for the FY 2016-17	Remuneration paid to managerial personnel for the FY 2017-18	% Change in remuneration paid to managerial personnel
2588200	4317800	66.82	4861000	6499000	33.69

Further there are no exceptional circumstances for increase in the managerial remuneration.

6. During the year under review no variable component of remuneration availed by Directors ofthe Company;

7. It is hereby affirmed that the remuneration paid by the Company to its Directors, KMPâs and Employees during the year under review is as per the Nomination & Remuneration Policy ofthe company

Equity Shares with Differential Voting Rights:

The company has not issued any shares with differential voting rights and accordingly the provisions of Section 43 read with Rule 4(4) of the Companies (Share Capital and Debentures) Rules, 2014 ofthe Companies Act, 2013 and rules framed there under are not applicable for the year.

Details of Sweat Equity Shares:

The company has not issued any sweat equity shares and accordingly the provisions of Section 54 read with Rule 8(13) ofthe Companies (Share Capital and Debentures) Rules, 2014 of the Companies Act, 2013 and rules framed there under are not applicable for the year.

Details of Employees Stock Option Scheme:

The company has not granted stock options and accordingly the provisions of Section 62(l)(b) read with Rule 12(9) ofthe Companies (Share Capital and Debentures) Rules, 2014 ofthe Companies Act, 2013 and rules framed there under are not applicable for the year.

Disclosure of Voting Rights Not Exercised:

The company has not made any provision of money for the purchase of, or subscription for, shares in the company or its holding company, if the purchase of, or the subscription for, the shares by trustees is for the shares to be held by or for the benefit of the employees of the company and accordingly the provisions of Chapter IV (Share Capital and Debentures) ofthe Companies Act, 2013 and rules framed there under are not applicable for the year.

Employees:

The Board of Directors place on record sincere gratitude and appreciation for all the employees at all levels for their hard work, solidarity, cooperation and dedication during the year. During the year under review, none of the employee has received remuneration of Rs. Eight Lakhs and Fifty Thousand per month or Rs. One Crores Two Lakhs per year or at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company pursuant to Section 197 (12) of the Companies Act, 2013 read with Rule 5(2) ofthe Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and hence, do not call for any further details referred to in Rule 5 (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

Listing:

As on date all the 2,80,00,000 Equity Shares of the Company are listed on the BSE Limited. The Listing fees have been paid to the BSE Limited for the year 2018-19.

Depository:

Equity shares of the Company are traded in Demat form as well as in physical form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL). Annual Custody/Issuer fee for the year 2018-19 has been paidby the Company to NSDL and CDSL. Management Discussion and Analysis:

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34(2) (e) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 with the stock exchange, is annexed as ANNEXURE-III with this report and shall form part of the Boardâs report.

Report on Corporate Governance:

The Company has put in place the compliances pertaining to Corporate Governance. A report on Corporate Governance as stipulated under SEB1 (Listing Obligation and Disclosure Requirements) Regulations, 2015 with the stock exchange is annexed as ANNEXURE-IV with this report and shall form part ofthe Boardâs report.

Your Company has complied with the requirements of the SEBI [Listing Obligation and Disclosure Requirements) Regulations, 2015 and necessary disclosures have been made in this regard in the Corporate Governance Report.

A certificate from the Auditors confirming compliance with the conditions of Corporate Governance is also annexed with Corporate Governance Report which is annexed as ANNEXURE-IV.

Cash Flow Statement:

In conformity with the provisions ofthe Companies Act, 2013 and Regulation 34(2) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 with the Stock Exchanges, the cash flow statement for the year ended 31st March, 2018 is annexed hereto.

Number of Meetings ofthe Board and its Committees:

The details ofthe meetings ofthe Board of Directors and its Committees, convened during the financial year 2017-18 are given in the Corporate Governance Report which is annexed as ANNEXURE-IV with this report and shall form part of the Boardâs report.

Obligation of Company under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. During the year under review the Company has neither received any complaint of harassment nor any complaints pending there under.

Code of Fair Disclosure of Unpublished Price Sensitive Information and Code of Conduct under SEBI (Prohibition of Insider Trading) Regulations, 2015 Pursuant to Regulation 8 of Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 the Board of Directors has formulated and adopted the âCode of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Informationâ (Code of Fair Disclosure) of the Company.

Acknowledgement:

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers, suppliers, contractors and other associates for their continued support to the Company. The Board of Directors place on record sincere gratitude and appreciation for all the employees at all levels for their hard work, solidarity, cooperation and dedication during the year. We look forward to their continued support in the future.

For and on Behalf of the Board of Directors

Sd/- Sd/-

Sunil Kumar Jain Mukesh Kumar Jain

Managing Director Director

DIN: 00101324 DIN: 00392364

Place: Indore

Date: 14-08-2018

Mar 31, 2016

Dear Shareholders,

The Directors have pleasure in presenting the Twenty Second Annual Report along with the Audited Accounts and Financial Statements (including consolidated financial statements) for the year ended on 31^st March, 2016.

Financial results:

The summarized Standalone financial results of the Company for the year ended 31^st March, 2016 are as follows: . - - .

(Rs.ln Lakh)

Particulars	For the Year ended 31.03.2016	For the Year ended 31.03.2015
Total Revenue	2282.28	898.41
Total Expenses	1914.99	758.47
Profit before exceptional items & tax	367.28	139.94
Exceptional items	0.00	0.00
Profit before Tax	367.28	139.94
Profit after Tax	239.61	91.98

Operational Performance:

During the year under review, the Company recorded total revenue of Rs. 2,282.28 Lakh as compared to Rs. 898.41 Lakh recorded during the previous year. The Company recorded a net profit of Rs.239.61 Lakh as compared to net profit of Rs. 91.98 lakh during the previous year. The Basic Earnings per Share for the year ended 31^st March, 2016 is Rs.0.86/- as against Rs. 0.33/-for the corresponding previous year ended 31^st March, 2015.

Dividend:

The strength of your Company lies in identification, execution and successful implementation of the projects in the real estate space. To strengthen the long-term prospects and ensuring sustainable growth in assets and revenue, it is important for your Company to evaluate various opportunities in the different business verticals in which your Company operates. Your Company currently has several projects under implementation and continues to explore newer opportunities. Your Board of Directors, considers this be in the strategic interest of the Company and believe that this will greatly enhance the long-term shareholders'' value. In order to fund these projects in its development, expansion and implementation stages, conservation of funds is of vital importance. Therefore, your Directors have not recommended any dividend for the financial year 2015-16.

Reserves:

During the year under review, No amount was transferred to General Reserve.

Brief description of the Company''s working during the year/State of Company''s affair:

The Company is in the business of Real Estate and Infrastructure Development. Looking into the ups and downs of the industry it can be concluded that the Company has performed well enough to sustain in today''s competitive economy. The Company has overseen challenges trespassing the hurdles of real Estate development. The Company stepped into Colonizing and residential constructions and Company is looking forward to take up some new projects which will take the Company to new heights in the real Estate sector.

Changes in the nature of business, if any

There were no Changes as such in the Company for the year under review.

Board Evaluation:

The Nomination and Remuneration Committee of the Board has formulated a Performance Evaluation Framework in which a structured questionnaire was prepared after taking into consideration of the various aspects of the Board''s functioning, composition of the Board and its Committees, culture, execution and performance of specific duties, obligations and governance and under which the Committee has identified the criteria upon which every Director shall be evaluated. The Policy also provides the manner in which the Directors, as a collective unit in the form of Board Committees and the Board function and perform.

The performance evaluation of the Independent Directors was completed. The performance evaluation of the Chairman and the Non-Independent Directors was carried out by the Independent Directors. The Board of Directors expressed their satisfaction with the evaluation process.

Company''s Policy Relating to Directors Appointment, Payment of Remuneration and Discharge of Their Duties:

The remuneration paid to the Directors is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the Listing Regulations (including any statutory modification(s) or re-enactment(s) for the time being in force).

Segment Performance:

At present Company is engaged in the business of real estate development and there is no separate reportable segment.

Listing:

As on date all the 2,80,00,000 Equity Shares of the Company are listed on the Bombay Stock Exchange Limited (BSE). The Listing fees have been paid to the Bombay Stock Exchange Limited (BSE) for the year 2016-17.

Depository:

Deposits:

Your Company has not accepted any deposits from public during the year under review and as such, no amount of principle or interest was outstanding as on the balance sheet date.

Management Discussion and Analysis:

Management Discussion and Analysis Report for the year under review, as stipulated under Regulation 34(2) (e) of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 with the stock exchange, is presented in a separate section forming part of this annual report.

Report on Corporate Governance:

The Company has put in place the compliances pertaining to Corporate Governance. A report on Corporate Governance as stipulated under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 with the stock exchange forms part of the Annual Report.

Your Company has complied with the requirements of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 and necessary disclosures have been made in this regard in the Corporate Governance Report.

Certificate from the Auditors of the Company, M/s Khandelwal & Khandelwal Associates confirming compliance of conditions of Corporate Governance as stipulated under the aforesaid SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015, is annexed to this Report.

Cash Flow Statement:

In conformity with the provisions of the Companies Act, 2013 and Regulation 34(2) of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 with the Stock Exchanges, the cash flow statement for the year ended 31^st March, 2016 is annexed hereto.

Directors and Key Managerial Personnel: Retire by Rotation:

In accordance with the provisions of the Companies Act, 2013 and the Articles of Association, Mr. Mukesh Kumar Jain (Din 00392364), Non-Executive Director retire by rotation at this Annual General Meeting and being eligible offers himself for re-appointment.

In compliance with the provisions of the Companies Act, 2013 and SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, brief resume, expertise and other details of Director proposed to be appointed/reappointed are attached along with the Notice to the ensuing Annual General Meeting.

Woman Director:

Ms. Prakshali Jain (DIN 06977691) has been appointed as Woman Non- Executive Director to comply with the requirements as prescribed under Section 149(1) of the Companies Act, 2013 and The Companies (Appointment and Qualification of Directors) Rules, 2014 and also in Regulation 17 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015.

Independent Director:

Mr. Shailesh Kumar Jain (DIN 02390457), Mr. Dinesh Joshi (DIN 01784102), Mr. Ashok Kumar Sethi (DIN 01784133), and Mr. Purshottam Das Bairagi (DIN 01785896) occupy the position of Independent Directors of the Company under the provisions of SEBI (Listing Obligation and Disclosure

Requirements) Regulations, 2015 and also meet the criterion of independence as provided under Section 149(6) of the Companies Act, 2013. And they have already served the declaration required under this section.

Key Managerial Personnel:

Mr. Mayank Lashkari resigned from the post of Company Secretary w.e.f. 30.07.2015 and Mr. Prateek Ghatiya was appointed as a Company Secretary w.e.f 30.07.2015 subsequently he also resigned due to his pre-occupation and In his Place Mr. Qamar Ali occupied the Position of Company Secretary and Compliance officer of the Company w.e.f 03.05.2016.

Further that Mr. Vikas Jain and Mr. Sunil Kumar Jain continues to hold the position of CFO and MD of the Company respectively being the KMP.

Statutory Auditors:

M/s. Khandelwal & Khandelwal Associates, Chartered Accountants, (Firm Reg No: 008389C) has appointed as the Statutory Auditors of the Company in the 20^th AGM until 23^rd AGM to be held in the year 2017, subject to ratification of their appointment at the subsequent AG Ms.

The said Auditors have furnished the Certificate of their eligibility for re-appointment. Pursuant to the provisions of section 139 of the Companies Act, 2013 and rules framed there under, it is proposed to ratify appointment of M/s. Khandelwal & Khandelwal Associates Statutory Auditors of the Company from the conclusion of the forthcoming AGM till the subsequent AGM.

Auditors'' Reports

The Auditors'' Report does not contain any qualification. Notes to Accounts and Auditors remarks in their report are self-explanatory and do not call for any further comments.

Secretarial Audit:

In terms of Section 204 of the Act and Rules made there under, M/s B. K. Pradhan & Associates, Company Secretaries, Mumbai have been appointed as Secretarial Auditors of the Company. The report of the Secretarial Auditors is enclosed as Annexure ''A'' to this report. The report is self-explanatory and do not call for any further comments.

Internal Audit & Controls:

Pursuant to Section 138 of the Companies Act, 2013 and Rules made there under, the Board of Directors of Company has appointed M/s S.N. Gadiya & Co., Chartered Accounts, Indore as its Internal Auditor. During the year, the Company continued to implement their suggestions and recommendations to improve the control environment. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systems and processes and assessing the internal control strengths in all areas. Internal Auditors findings are discussed with the process owners and suitable corrective actions taken as per the directions of Audit Committee on an ongoing basis to improve efficiency in operations.

Conservation of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo:

As the Company is not a manufacturing Company, the Board of Directors has nothing to report on conservation of Energy and Technology absorption, Information required under section 134(3)(m) of the Companies Act, 2013 read with Rule8oftheCompanies(Accounts) Rules, 2014.

a) Conservation of energy

(i) the steps taken or impact on conservation of energy	N.A
(ii) the steps taken by the Company for utilizing alternate sources of energy	N.A
(iii) the capital investment on energy conservation equipment''s	N.A

(b) Technology absorption

(i) (ii) (iii)	the efforts made towards technology absorption the benefits derived like product improvement, cost reduction, product development or import substitution in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)-	N.A N.A N.A
	(a) the details of technology imported	N.A
	(b) the year of import;	N.A
	(c) whether the technology been fully absorbed	N.A
	(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof	N.A
(iv)	the expenditure incurred on Research and Development	N.A

C) During the year under review, the Company did not have earning and outgo of any foreign currency.

Corporate Social Responsibility (CSR):

The provisions of section 135 and Schedule VII of the Companies Act, 2013 in respect to CSR is not applicable on your Company.

Vigil Mechanism:

Pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013, a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at http://www.shrikrishnadevconlimited.com/ under Investors Relation/Code of Conduct/Vigil Mechanism Policy link.

Related Party Transactions:

During the period under review there were no related party transactions in the Company as per the provisions of section 188oftheCompaniesact, 2013.

Risk management policy:

The Company has been addressing various risks impacting the Company and the policy of the Company on risk management is provided in Management Discussion and Analysis.

Extract of Annual Return:

Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014, an extract of Annual Return in MGT-9 is attached as a part of this Annual Report as Annexure ''A''.

Material changes and commitments, if any, affecting the financial position of the Company which have occurred between the end of the financial year of the Company to which the financial statements relate and the date of the report:

Disclosure of Orders Passed by Regulators or Courts or Tribunal:

No significant and material orders have been passed by any Regulator or Court or Tribunal which can have an impact on the going concern status and the Company''s operations in future.

Subsidiaries, Joint Ventures and Associate Companies:

The Company does not have any Subsidiary, Joint venture or Associate Company., However the company has investments in Partnership Firms which according to Accounting Standards required consolidation of accounts.

Directors Responsibility Statement:

Pursuant to Section 134(5) of the Companies Act, 2013, Directors of your Company hereby state and confirm that:

a) In the preparation of the annual accounts for the year ended 31^st March, 2016 , the applicable accounting standards have been followed along with proper explanation relating to material departures;

d) They have prepared the annual accounts on a going concern basis;

e) They have laid down internal financial controls in the Company that are adequate and were operating effectively.

f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and these are adequate and are operating effectively.

Particulars of Loans, Guarantees or Investments:

Details of Loans, Guarantees and Investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in the notes to the Financial Statements.

Number of Meetings of the Board and its Committees:

The details of the meetings of the Board of Directors and its Committees, convened during the financial year 2015-16 are given in the Corporate Governance Report which forms a part of this report.

Remuneration Ratio of the Directors / Key Managerial Personnel (KMP) / Employees:

The information required pursuant to Section 197 read with Rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014and Companies (Particulars of Employees) Rules, 1975, in respect of employees of the Company and Directors is furnished here under:

Sr. No.	Name	Designation	Remuneration Paid F.Y. 2015-16 (Rs.ln Lac)	Remuneration Paid F.Y. 2014-15 (Rs.ln Lac)	Percentage Increase in remuneration from previous year	Ratio/Times per Median of employee remuneration
01	Mr. Sunil Kumar Jain	Managing Director	36.00	36.00	-	15
02	Mr. Vikas Kumar Jain	Chief Financial Officer	0.84	0.84	-	1.6
03	Mr. Prateek Ghatiya	Company Secretary	01.20	-	-	0.5
04	Mr. Mayank Kumar Lashkari**	Company Secretary	00.60	00.45	-	0.25
05	Ms. Priyanka Saraf***	Company Secretary	-	01.02	-	-
06	Ms. Surbhi Goyal****	Company Secretary		00.69

* Mr. PrateekGhatiya Appointed w.e.f. 30.07.2015.

** Mr. MayankLashkari Resigned w.e.f 30.07.2015.

*** Ms. Priyanka Saraf Resigned w.e.f 25.01.2015.

**** Ms. Surbhi Goyal Resigned w.e.f 30.05.2014.

The percentage increase in the Median remuneration of Employees in the financial year 2015-16 was 5.00%

The Number of Permanent Employees on the rolls of the Company are 9 (Nine).

The Remuneration of the Key Managerial Personnel''s of the Company remained same as compared to the previous fiscal.

The percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year was 5.00%. Further there was no increase in the Managerial Remuneration for the financial year 2015-16.

The Managing director doesn''t draw any variable component other than the fixed salary. Further the remuneration payable is as per the remuneration policy of the Company

The Names of top Ten Employees in terms of Remuneration are:-

Sr. No.	Name of Employee	Designation	Remuneration Per Months
01	Mr. Sunil KumarJain	MD	3,00,000
02	Mr. Vikas Jain	CFO	32,000
03	Mr. Sudeep Jain	Branch Head	30,000,
04	Ms. Prita Biswas	Admin Manager	25,000
05	Mr. Gaurav Rodge	Site-Supervisor	20,000
06	Mr. Manoj Piple	Site-Supervisor	20,000
07	Mr. PrateekGhatiya*	Company Secretary	15,000
08	Ms. Shivanj Patni	H.R. Head	13,000
09	Ms. Anukriti Vyas	Accountant	11,000

* Mr. Prateek Ghatiya Resigned w.e.f. 03.05.2016.

Obligation of Company under The Sexual Harassment of Women At Workplace (Prevention, Prohibition And Redressal) Act, 2013

In order to prevent sexual harassment of women at work place under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 the Company has set up an Internal Complaints Committee to look into complaints relating to sexual harassment at work place of any women employee.

Acknowledgement:

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and cooperation extended by the Bankers, Shareholders, customers, suppliers, contractors and other associates for their continued support to the Company. The Directors also place on record their sincere appreciation to the employees at all levels for their continuing support and efforts in ensuring the heights of success. We look forward to their continued support in the future.

For and on Behalf of the Board of Directors

Sunil Kumar Jain Naveen Kumar Jain

Place: Indore Managing Director Director

Date: 12.08.2016 DIN: 00101324 DIN: 00117876

Mar 31, 2014

Dear Shareholders,

The Directors have pleasure in presenting the Twentieth Annual Report along with the Audited Accounts and Financial Statements for the year ended 31st March, 2014.

Financial results

The summarized financial results of the company for the year ended 31st March, 2014 are as follows:

(Rs. In Lacs)

Particulars For the For the Year ended Year ended 31.03.2014 31.03.2013

Total Revenue 3,050.41 2,744.52

Total Expenses 2,888.40 2,421.02

Profit before exceptional items & tax 162.00 323.50

Exceptional items - 56.50

Profit before Tax 162.00 266.99

Profit after Tax 108.06 162.49

Operational Performance

During the year under review, the Company recorded total revenue of Rs. 305,040,715/- as compared to Rs. 274,452,217/- recorded during the previous year. The Company recorded a net profit of Rs. 10,805,930/- as compared to net profit of Rs. 16,248,972/- during the previous year. The Basic Earnings per Share for the year ended March 31, 2014 is 0.39 as against 0.58 for the corresponding previous year ended March 31,2013.

Dividend

To strengthen the net worth of the company and to ensure sustainable growth in assets and revenue, it is important for your Company to conserve the financial resources and evaluate various opportunities in the different business verticals in which your Company operates. Your Company currently has various projects under accomplishment and continues to explore newer opportunities. In order to fund these projects in its development, expansion and implementation stages, conservation of funds is of vital importance. Therefore, your Directors have not recommended any dividend for the financial year 2013-2014.

Segment Performance

At present Company is engaged in the business of real estate development and there is no separate reportable segment.

Listing

As on date all the 28,000,000 Equity Shares of the company are listed on the Bombay Stock Exchange Limited (BSE). The Listing fees have been paid to the Bombay Stock Exchange Limited (BSE) for the year 2014-15.

Depository

Equity shares of the company are traded in D''mate form as well as in physical form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).

Fixed Deposits

Your company has not accepted any deposits from public during the year under review and as such, no amount of principle or interest was outstanding as on the balance sheet date.

Management Discussion and Analysis

Management Discussion and Analysis Report for the year under review, as stipulated under Clause-49 of the Listing Agreement with the stock exchange, is presented in a separate section forming part of this annual report.

Report on Corporate Governance

The company has put in place the compliances pertaining to Corporate Governance. A report on Corporate Governance as stipulated under Clause-49 of the Listing Agreement with the stock exchange form part of the Annual Report.

Your Company has complied with the requirements of the Listing Agreement and necessary disclosures have been made in this regard in the Corporate Governance Report.

Certificate from the Auditors of the Company, M/s Khandelwal & Khandelwal Associates confirming compliance of conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is annexed to this Report.

Cash Flow Statement

In conformity with the provisions of Clause 32 of the Listing Agreement with the Stock Exchanges, the cash flow statement for the year ended 31st March, 2014 is annexed hereto.

Directors

In accordance with the provisions of the Companies Act, 1956 and the Articles of Association, Mr. Mukesh Kumar Jain, Non- executive Directors retiring by rotation at this Annual General Meeting and being eligible offers themselves for re-appointment.

Mr. Purushottam Das Bairagi, Mr. Ashok Kumar Sethi and Mr. Dinesh Joshi, the Non-Executive Independent Directors, have been appointed as Independent Directors under the provisions of Listing Agreement and they also meet the criterion of independence as provided under Section 149(6) of the Companies Act, 2013. It is proposed to appoint them in the ensuing Annual General Meeting as Independent Directors in terms of Section 150(2) of the Companies Act, 2013 for a term of five consecutive years as stated in Section 149(10) of the Companies Act, 2013 and resolutions to this effect is incorporated in the Notice of the ensuing Annual General Meeting.

Pursuant to the provisions of Section 160 of the Companies Act, 2013, the Company has received a Notice in writing from one of the members of the Company, signifying his intention to propose the candidatures of the said three Directors for the offices of the directors of the Company. In terms of Section 149 (13) of the Companies Act, 2013, the provisions of Section 152(6) and (7) of the said Act in respect of retirement of Director by rotation shall not be applicable to appointment of Independent Directors.

In compliance with Clause 49 IV (G) of the Listing Agreement, brief resume, expertise and other details of Director proposed to be re-appointed are attached along with the Notice to the ensuing Annual General Meeting.

Auditors

M/s. Khandelwal & Khandelwal Associates, Chartered Accountants, who are the Statutory Auditors of the Company, hold office till the Conclusion of forthcoming AGM and are eligible for reappointment. The said Auditors have furnished the Certificate of their eligibility for re-appointment. Pursuant to the provision of section 139 of the Companies Act 2013 and rules framed thereunder, it is proposed to appoint M/s. Khandelwal & Khandelwal Associates Statutory Auditor of the Company from the conclusion of the forthcoming AGM till the conclusion of 23rd AGM to be held in the year 2017, subject to ratification of their appointment at the subsequent AGMs.

Auditor''s Report

Observations made in the Auditor''s Report are self-explanatory and therefore do not call for further comments under Section 217(3) of the Companies Act, 1956.

Cost Compliance Report

In order to comply with the notifications and circulars issued by Ministry of Corporate Affairs (MCA), the Company has filled the Cost Compliance Report for the year 2012-13.

Directors'' Responsibility Statement

The Board of Directors of your company state:

i. That in the preparation of the annual accounts, the applicable accounting standards had been followed along with the proper explanation relating to material departures, if any.

ii. That 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/loss of the Company for that period;

iii. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv. That the directors had prepared the annual accounts on going concern basis.

Particulars of Employees

There is no employee whose particulars are required to be given under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology Absorption and Foreign Exchange Earning and Outgo

As the Company is not a manufacturing company, the Board of Directors has nothing to report pursuant to Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

During the year under review, the company did not have earning and outgo of any foreign currency.

Acknowledgment

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers, suppliers, contractors and other associates for their continued support to the Company. The Directors also place on record their sincere appreciation to the employees at all levels for their continuing support and efforts in ensuring the heights of success. We look forward to their continued support in the future.

For and on Behalf of the Board of Directors

Sunil Kumar Jain Mukesh Kumar Jain Managing Director Director

Place: Indore Date: 30.05.2014

Mar 31, 2013

Dear Shareholders,

The Directors have pleasure in presenting the Nineteenth Annual Report along with the Audited Accounts and Financial Statements for the year ended 31st March 2013.

Financial Results

The summarized financial results of the company for the year ended 31st March 2013 are as follows:

(Rs. In Lacs) Particulars For the For the Year ended Year ended 31.03.2013 31.03.2012

Total Revenue 2,744.52 1,109.75

Total Expenses 2,421.02 978.97

Profit before exceptional items & tax 323.50 130.78

Exceptional items 56.50

Profit before tax 266.99 130.78

Profit after tax 162.49 94.59

Operational Performance

During the year under review, the Company recorded total revenue of Rs. 274,452,217 as compared to Rs. 110,974,954 recorded during the previous year. The Company recorded a net profit of Rs. 16,248,972 as compared to net profit of Rs. 9,458,959 during the previous year. The Basic Earnings per Share for the year ended 31.03.2013 is Rs. 0.58 as against Rs. 0.48 for the corresponding previous year ended 31.03.2012.

Dividend

To strengthen the net worth of the company and to ensure sustainable growth in assets and revenue, it is important for your Company to conserve the financial resources and evaluate various opportunities in the different business verticals in which your Company operates. Your Company currently has various projects under accomplishment and continues to explore newer opportunities. In order to fund these projects in its development, expansion and implementation stages, conservation of funds is of vital importance. Therefore, your Directors have not recommended any dividend for the financial year 2012-2013.

Segment Performance

At present Company is engaged in the business of real estate development and there is no separate reportable segment.

Listing

As on date all the 2,80,00,000 Equity Shares of the company are listed on the Bombay Stock Exchange Limited (BSE). The Listing fees have been paid to the Bombay Stock Exchange Limited (BSE) for the year 2013-14.

Depository

Equity shares of the company are traded in D''mate form as well as in physical form. For dematerialization of shares, the Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).

Fixed Deposits

Your company has not accepted any deposits from public during the year under review and as such, no amount of principle or interest was outstanding as on the balance sheet date.

Management Discussion and Analysis

Management Discussion and Analysis Report for the year under review, as stipulated under Clause-49 of the Listing Agreement with the stock exchange, is presented in a separate section forming part of this annual report.

Report on Corporate Governance

The company has put in place the compliances pertaining to Corporate Governance. A report on Corporate Governance as stipulated under Clause-49 of the Listing Agreement with the stock exchange form part of the Annual Report.

Your Company has complied with the requirements of the Listing Agreement and necessary disclosures have been made in this regard in the Corporate Governance Report.

Certificate from the Auditors of the Company, M/s. Khandelwal & Khandelwal Associates confirming compliance of conditions of Corporate Governance as stipulated under the aforesaid Clause 49, is annexed to this Report.

Cash Flow Statement

In conformity with the provisions of Clause 32 of the Listing Agreement with the Stock Exchanges, the cash flow statement for the year ended 31st March, 2013 is annexed hereto.

Directors

In accordance with Articles of Association of the Company and in view of the provisions of Section 256 of the Companies Act, 1956, Mr. Purshottam Das Bairagi, retires by rotation and being eligible, offers himself for re-appointment at the ensuing Annual General Meeting. Necessary resolution relating to Director who is seeking re-appointment is included in the Notice of Annual General Meeting. The Board of Directors recommends the re-appointment of Mr. Purshottam Das Bairagi.

In compliance with Clause 49 IV (G) of the Listing Agreement, brief resume, expertise and other details of Director proposed to be re-appointed are attached along with the Notice to the ensuing Annual General Meeting.

Auditors

The retiring Auditors, M/s. Khandelwal & Khandelwal Associates, Chartered Accountants, Statutory Auditor of the Company, will retire at the ensuing Annual General Meeting and being eligible, offer themselves for re-appointment and your Directors recommend their re-appointment.

The Company has received letter from them to the effect that their re-appointment, if made would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified for such reappointment within the meaning of Section 226 of the said Act.

Auditor''s Report

Observations made in the Auditor''s Report are self- explanatory and therefore do not call for further comments under Section 217(3) of the Companies Act, 1956.

Cost Compliance Certification

In order to comply with the notifications and circulars issued by Ministry of Corporate Affairs (MCA), your Company has appointed M/s Rajendra Singh Bhati & Co. in whole-time practice for the purpose of issuance of the Cost Records Compliance Certificate to the Company for the year 2012 -13.

Directors'' Responsibility Statement

The Board of Directors of your company state:

i. That in the preparation of the annual accounts, the applicable accounting standards had been followed along with the proper explanation relating to material departures, if any.

ii. That 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/loss of the Company for that period;

iii. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv. That the directors had prepared the annual accounts on going concern basis.

Particulars of Employees

There is no employee whose particulars are required to be given under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology Absorption and Foreign Exchange Earning and Outgo

As the Company is not a manufacturing company, the Board of Directors has nothing to report pursuant to Section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of Particulars in the Report of Board of Directors) Rules, 1988.

During the year under review, the company did not have earning and outgo of any foreign currency.

Acknowledgement

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers, suppliers, contractors and other associates for their continued support to the Company. The Directors also place on record their sincere appreciation to the employees at all levels for their continuing support and efforts in ensuring the heights of success. We look forward to their continued support in the future.

For and on Behalf of the Board of Directors

Sunil Kumar Jain Mukesh Kumar Jain

Managing Director Director

Place : Indore

Date : 02.08.2013

Mar 31, 2012

The Directors have pleasure in presenting the Eighteenth Annual Report for the year ended 31st March 2012.

Financial results:

(Rs In Lacs) Particulars For the For the Year ended Year ended 31.03.2012 31.03.2011

Total Income 1109.75 1069.30

Total Expenditure 978.97 972.46

Profit / Loss 130.78 96.84

Before Taxation

Profit / Loss 94.59 71.20

After Taxation

Performance:

During the year under review, the Company recorded a income of Rs. 1109.75 Lacs as compared to Rs. 1069.30 Lacs recorded during the previous year. The Company recorded a net profit after tax of Rs. 94.59 Lacs as compared to profit of Rs. 71.20 Lacs during the previous year.

Dividend:

The strength of your Company lies in identification, execution and successful implementation of the projects in the real estate space. To strengthen the long-term prospects and ensuring sustainable growth in assets and revenue, it is important for your Company to evaluate various opportunities in the different business verticals in which your Company operates. Your Company currently has several projects under implementation and continues to explore newer opportunities. Your Board of Directors, considers this be in the strategic interest of the Company and believe that this will greatly enhance the long-term shareholders' value. In order to fund these projects in its development, expansion and implementation stages, conservation of funds is of vital importance. Therefore, your Directors have not recommended any dividend for the financial year 2011-12.

Change in Share Capital:

To augment its long term resources and in order to enable the Company to raise the resources, Company has increased its authorized share capital from Rs. 16.00 Cr. to Rs. 28.00 Cr. by way of Postal Ballot on 12th May, 2011 and Company has issued 1,20,00,000 Warrants convertible into equity shares of Rs. 10/- each at a premium of Rs. 10/- per share on 25th May, 2011, to the promoters and / or bodies corporate(s)

or individual(s) or others. The Company has allotted

1.20.00.000 equity shares of Rs. 10.00 each at a premium of Rs. 10.00 per share on Conversion of

1.20.00.000 warrants of Rs. 20.00 each on Preferential Basis. After allotment paid up and subscribed capital of Company increased from Rs. 16.00 Cr. to Rs. 28.00 Cr.

Change in Registered Office:

The registered office of the Company was shifted from 414, 4th Floor, Crystal Paradise The Mall, Off Veera Desai Marg, Andheri (W), Mumbai-400 053 to Umerji House, 202, 2nd Floor, Teli Gally, Andheri (East), Mumbai (MH) - 400 069 with effective from 01st December 2011 for administrative purposes.

Segment Performance:

At present Company is engaged in the business of real estate development and there is no separate reportable segment.

Listing:

As on date all the 16.00 Cr. Equity Shares of the company are listed on the Bombay Stock Exchange Limited (BSE) and remaining 12.00 Cr. Equity Shares of the Company has got the inprincipal approval from BSE and very soon Company will get the listing approval from BSE. The Listing fees have been paid to the Bombay Stock Exchange Limited (BSE) for the year 2012-13.

Depository:

Equity shares of the company are traded in D'mate form as well as in physical form. For dematerialization of shares Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).

Fixed Deposits:

Your company has not accepted any deposits from public during the year under review and as such, no amount of principle or interest was outstanding as on the balance sheet date.

Management Discussion and Analysis and Corporate Governance Report:

As required by the Listing Agreement with the stock exchanges, a separate section containing Management Discussion and Analysis and Corporate Governance Report, as approved by the Board of Directors, together with a certificate from the company's auditors confirming the compliance with the requirements of Corporate Governance policies is set out in the annexure forming part of this annual report.

Cash Flow Statement:

In conformity with the provisions of Clause 32 of the Listing Agreement with the Stock Exchanges, the cash flow statement for the year ended 31st March, 2012 is annexed hereto.

Directors:

During the year designation of Mr. Mukesh Kumar Jain and Mr. Naveen Kumar Jain, Whole -Time Directors of the company changed from Executive Director to Non- Executive Director of the company with effective from 31/07/2011.

Except for the Executive Chairman, Managing Director and Whole-time Director, the other Directors of the Company are liable to retire by rotation, One-third of the said Directors are liable to retire every year and if eligible, offer themselves for re-appointment. Accordingly Mr. Ashok Kumar Sethi and Mr. Naveen Kumar Jain retires by rotation in accordance with the provisions of Articles of Association of the Company and being eligible, offers himself for re-appointment at the ensuing Annual General Meeting. Necessary resolution relating to Director who is seeking re- appointment is included in the Notice of Annual General Meeting. The Board of Directors recommends the re-appointment of Mr. Ashok Kumar Sethi and Mr. Naveen Kumar Jain.

In compliance with Clause 49 IV (G) of the Listing Agreement, brief resume, expertise and other details of Director proposed to be re-appointed are attached along with the Notice to the ensuing Annual General Meeting.

Auditors:

M/s. Khandelwal & Khandelwal Associates, Chartered Accountants, Statutory Auditors of the company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment. The Company has received letter from them to the effect that their re-appointment, if made would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified for such reappointment within the meaning of Section 226 of the said Act.

Auditor's Report:

Observations made in the Auditor's Report are self- explanatory and therefore do not call for further comments under Section 217(3) of the Companies Act, 1956.

Directors' Responsibility Statement:

The Board of Directors of your company state:

i. That in the preparation of the annual accounts, the applicable accounting standards had been followed.

ii. That 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/loss of the Company for that period;

iii. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv. That the directors had prepared the annual accounts on going concern basis.

Particulars of Employees:

There is no employee whose particulars are required to be given under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology Absorption and Foreign Exchange Earning and Outgo:

Information required to be given pursuant to Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 do not apply to the Company.

Details of foreign exchange earning and outgo are as follows:

Foreign Exchange Earnings Nil Foreign Exchange Outgo Nil

Acknowledgement:

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers and look forward to their continued support.

For and on Behalf of the Board of Directors

Sunil Kumar Jain Mukesh Kumar Jain

Managing Director Director

Place : Indore

Date : 14.08.2012

Mar 31, 2010

The Directors have pleasure in presenting the Sixteenth Annual Report for the year ended 31st March 2010.

Financial results:

(Rs. In Lacs)

Particulars For the For the Year ended Year ended 31.03.2010 31.03.2009

Total Income 359.77 38.19

Total Expenditure 351.10 34.50

Profit (Loss) 8.66 3.27

Before Taxation

Less: Provision 2.72 1.60 for Taxation

Profit/(Loss) 5.94 1.67

After Taxation

Balance brought (65.85) (67.52) forward from previous year

Balance carried (59.91) (65.85) to Balance Sheet

Performance:

During the year under review, the Company recorded a turnover of Rs. 359.77 Lacs as compared to Rs. 38.19 Lacs recorded during the previous year. The Company recorded a net profit after tax of Rs. 5.94 Lacs as compared to profit of Rs. 1.67 Lacs during the previous year.

Dividend:

The strength of your Company lies in identification, execution and successful implementation of the projects in the real estate space. To strengthen the long-term prospects and ensuring sustainable growth in assets and revenue, it is important for your Company to evaluate various opportunities in the different business verticals in which your Company operates. Your Company currently has several projects under implementation and continues to explore newer opportunities. Your Board of Directors, considers this be in the strategic interest of the Company and believe that this will greatly enhance the long-term shareholders value. In order to fund these projects in its development, expansion and implementation stages, conservation of funds is of vital importance. Therefore, your Directors have not recommended any dividend for the financial year 2009-10.

Change in Share Capital:

To augment its long term resources and in order to enable the Company to raise the resources, Company has increased its authorized share capital from Rs. 8.50 Cr. to Rs. 16.00 Cr. by way of Postal Ballot on 13th April, 2010 and Company has issued 86,99,600 Warrants convertible into equity shares of Rs. 10/- each at a premium of Rs. 5/- per share on April 27, 2010, to the promoters and / or bodies corporate(s), individual(s) or others. Warrants will convert in Equity Shares before expiry of 18 months from the date of allotment of the warrants. After conversion paid up and subscribed capital of Company would be increase from Rs. 7.30 Cr. to Rs. 16.00 Cr.

Segment Performance:

At present Company is engaged in the business of real estate development and infrastructure activities and there is no separate reportable segment.

Listing:

As on date all the 73,00,400 Equity Shares of the company are listed on the Bombay Stock Exchange Limited (BSE). The Listing fees have been paid to the Bombay Stock Exchange Limited (BSE) for the year 2010-11.

Depository:

Equity shares of the company are traded in Dmate form as well as in physical form. For dematerialization of shares Company has connectivity with the National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).

Fixed Deposits:

Your company has not accepted any deposits from public during the year under review and as such, no amount of principle or interest was outstanding as on the balance sheet date.

Management Discussion and Analysis and Corporate Governance Report:

As required by the Listing Agreement with the stock exchanges, a separate section containing Management Discussion and Analysis and Corporate Governance Report, as approved by the Board of Directors, together with a certificate from the companys auditors confirming the compliance with the requirements of Corporate Governance policies is set out in the annexure forming part of this annual report.

Cash Flow Statement:

In conformity with the provisions of Clause 32 of the Listing Agreement with the Stock Exchanges, the cash flow statement for the year ended 31st March, 2010 is annexed hereto.

Directors:

Except for the Managing Director and Whole-time Director, the other Directors of the Company are liable to retire by rotation, One-third of the said Directors are liable to retire every year and if eligible, offer themselves for re-appointment. Accordingly Mr. P.D. Bairagi retires by rotation in accordance with the provisions of Articles of Association of the Company and being eligible, offers himself for re-appointment at the ensuing Annual General Meeting. Necessary resolution relating to Director who is seeking re-appointment is included in the Notice of Annual General Meeting. The Board of Directors recommends the re- appointment of Mr. P.D. Bairagi.

In compliance with Clause 49 IV (G) of the Listing Agreement, brief resume, expertise and other details of Director proposed to be re-appointed are attached along with the Notice to the ensuing Annual General Meeting.

Auditors:

M/s. Khandelwal & Khandelwal Associates, Chartered Accountants, Statutory Auditors of the company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

The Company has received letter from them to the effect that their re-appointment, if made would be within the prescribed limits under Section 224 (1B) of the Companies Act, 1956 and that they are not disqualified for such reappointment within the meaning of Section 226 of the said Act.

Auditors Report:

Observations made in the Auditors Report are self- explanatory and therefore do not call for further comments under Section 217(3) of the Companies Act, 1956.

Directors Responsibility Statement:

The Board of Directors of your company state:

i. That in the preparation of the annual accounts, the applicable accounting standards had been followed.

ii. That 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/loss of the Company for that period;

iii. That the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

iv. That the directors had prepared the annual accounts on going concern basis.

Particulars of Employees:

There is no employee whose particulars are required to be given under Section 217 (2A) of the Companies Act, 1956, read with the Companies (Particulars of Employees) Rules, 1975.

Conservation of Energy, Technology Absorption and Foreign Exchange Earning and Outgo:

Information required to be given pursuant to Section 217(1) (e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 do not apply to the Company.

Details of foreign exchange earning and outgo are as follows:

Foreign Exchange Earnings Nil

Foreign Exchange Outgo Nil

Acknowledgement:

The Directors wish to place on record their sincere appreciation and acknowledge with gratitude the support and co-operation extended by the Bankers, Shareholders, customers and look forward to their continued support.

For and on Behalf of the Board of Directors

Sunil Jain Mukesh Jain Managing Director Whole Time Director

Place : Mumbai Date : 29.05.2010

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