The Board of Directors take pleasure in presenting the Thirty Eighth Annual Report including inter-
alia Directors’ Report, its annexures and audited financial statements (including standalone &
consolidated financial statements along with respective Auditors’ Report thereon) for the year ended
31st March 2024. The consolidated performance of the Company and its subsidiaries has been referred
to wherever required.
1. FINANCIAL SUMMARY/HIGHLIGHTS:
The performance during the period ended 31stMarch, 2024 has been as under:
(Rs. In Lakhs)
|
Particulars
|
Standalone
|
Consolidated
|
| |
2023-24
|
2022-23
|
2023-24
|
2022-23
|
|
Revenue from operations
|
353.16
|
81.00
|
3587.86
|
4557.27
|
|
Other income
|
1.99
|
2.82
|
41.65
|
737.06
|
|
Profit/loss before Depreciation, Finance
Costs,
|
3.96
|
(34.00)
|
(54.08)
|
(106.34)
|
|
Less: Depreciation/ Amortisation/ Impairment
|
1.45
|
5.74
|
45.27
|
42.75
|
|
Profit /loss before Finance Costs, Exceptional
items and Tax Expense
|
2.51
|
(39.74)
|
(99.35)
|
(149.09)
|
|
Less: Finance Costs
|
—
|
—
|
21.76
|
42.69
|
|
Profit /loss before Exceptional items and Tax
Expense
|
2.51
|
(39.74)
|
(121.11)
|
(191.78)
|
|
Add/(less): Exceptional items
|
—
|
224.15
|
—
|
224.15
|
|
Profit /loss before Tax Expense
|
2.51
|
(263.89)
|
(121.11)
|
(415.93)
|
|
Less: Tax Expense (Current & Deferred)
|
0.18
|
(2.14)
|
46.45
|
(147.70)
|
|
Profit /loss for the year (1)
|
2.33
|
(261.75)
|
(167.56)
|
(268.23)
|
|
other Comprehensive Income/loss (2)
|
—
|
—
|
32.77
|
172.57
|
|
Total (1 2)
|
2.33
|
(261.75)
|
(134.79)
|
(95.66)
|
|
Earnings per share
|
0.02
|
(2.59)
|
(1.66)
|
(2.66)
|
2. OVERVIEW & STATE OF THE COMPANY’S AFFAIRS:
Revenues - standalone
During the year under review, the Company on a standalone basis has recorded a total income of Rs.
355.15 Lakhs and net profit of Rs. 2.33 Lakhs as against the income of Rs.83.82 Lakhs and incurred a
loss of Rs. 261.75 Lakhs respectively in the previous financial year ending 31.03.2023.
Revenues - Consolidated
During the year under review, the Company on a consolidated basis has recorded an income of Rs.
3629.51 Lakhs and incurred a loss of Rs. 134.79 Lakhs as against the income of Rs. 5294.33 Lakhs
and incurred a loss of Rs. 95.66 Lakhs respectively in the previous financial year ending 31.03.2023.
3. BUSINESS UPDATE AND STATE OF COMPANY’S AFFAIRS:
The information on Company’s affairs and related aspects is provided under Management Discussion
and Analysis report, which has been prepared, inter-alia, in compliance with Regulation 34 of SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015 and forms part of the annual
Report.
4. CHANGE IN THE NATURE OF BUSINESS, IF ANY:
During the period under review and the date of Board's Report there was no change in the nature of
business pursuant to inter-alia Section 134 of the Companies Act, 2013 and Companies (Accounts)
Rules, 2014.
5. TRANSFER TO RESERVES:
Pursuant to provisions of Section 134 (3) (j) of the Companies Act, 2013, the company has not
proposed to transfer any amount to general reserves account of the company during the year under
review.
6. DIVIDEND:
The Company has not paid any dividend during the year under review.
7. MATERIAL CHANGES & COMMITMENT AFFECTING THE FINANCIAL POSITION OF
THE COMPANY:
There have been no material changes and commitments affecting the financial position of the Company
which have occurred between the end of the Financial Year 2023-24 of the Company to which the
financial statements relate and the date of the Annual Report.
8. FUND RAISING BY ISSUANCE OF DEBT SECURITIES, IF ANY
Pursuance to SEBI Circular No. SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018, read
with SEBI Circular No. SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19,
2023, the Directors the Directors confirm that the Company is not defined as a “Large Corporate” as
per the framework provided in the said Circular. Further, your Company has not raised any funds by
issuance of debt securities.
9. REVISION OF FINANCIAL STATEMENTS:
There was no revision of the financial statements for the year under review.
10. AUTHORISED AND PAID-UP CAPITAL OF THE COMPANY:
During the year under review, there was no change in the share capital. The Authorized Share Capital
of your Company as on March 31, 2024 stood at Rs. 10,50,00,000/- and the issued and paid-up share
capital of the Company consists of 1,01,00,000 shares of face value Rs.10/- each amounting to
Rs. 10,10,00,000/-.
11. FURTHER ISSUE OF SHARE CAPITAL:
During the year under review, your Company has not made any allotments.
12. TRANSFER OF SHARES AND UNPAID OR UMCLAIMED AMOUNTS TO INVESTOR
EDUCTION AND PROTECTION FUND (IEPF):
Pursuant to the provisions of Section 124 of the Companies Act 2013, Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”) read
with the relevant circulars and amendments thereto, the amount of dividend remaining unpaid or
unclaimed for a period of seven years from the due date is required to be transferred to the Investor
Education and Protection Fund (“IEPF”), constituted by the Central Government
During the Year, no amount of dividend was unpaid or unclaimed for a period of seven years and
therefore no amount is required to be transferred to Investor Education and Provident Fund under the
Section 125(1) and Section 125(2) of the Act.
13. APPOINTMENT / RE-APPOINTMENT / RESIGNATION / RETIREMENT OF DIRECTORS
/CEO/ CFO AND KEY MAN AN GERIAL PERSONNEL
As on date of this report, the Company has 5 Directors, out of which three are Independent including
two women Directors and one is executive director and one non-executive Directors.
a) Appointment/Re-appointment/Resignation of Directors/KMP of the Company
• Resignation of Ms. Megha Agarwal as Company Secretary and Compliance Officer of the Company
with effect from 30th June, 2023.
• Appointment of Mr. Siva Kumar Reddy Chappidi as Company Secretary and Compliance Officer
of the Company with effect from 19th July, 2023.
• Re appointment of Mr. Sushant Mohan Lai as Executive Director of the Company with effect from
29th September, 2023.
• Appointment of Mrs. Gayathri Raghuram as Independent Director of the Company with effect from
04th September, 2023.
• Resignation of Mr. Mary Vara Prasad Mutluri as Independent Director of the Company with effect
from 30th May, 2024.
b) Key Managerial Personnel:
Key Managerial Personnel as on date of this report
• Mr. Sushant Mohan Lai, Executive Director of the Company.
• Mrs. Sonam Jalan, Chief Financial Officer of the Company.
• Mr. Siva Kumar Reddy, Company Secretary and Compliance Officer of the Company.
c) Information u/r 36(3) of SEBI (LODR), Regulations, 2015:
As required under regulation 36 (3) of the SEBI (LODR), Regulations, 2015, brief particulars of the
Directors seeking appointment/re-appointments are given as Annexure A to the notice of the AGM
forming part of this Annual Report.
14. DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS:
The Company has, inter alia, received the following declarations from all the Independent Directors
as prescribed under sub-section (6) of Section 149 of the Companies Act, 2013 and under Regulation
16(l)(b) read with Regulation 25 of the SEBI (LODR), Regulations, 2015 confirming that:
a. they meet the criteria of independence as prescribed under the provisions of the Act, read with
Schedule IV and Rules issued thereunder, and the Listing Regulations. There has been no change
in the circumstances affecting their status as Independent Directors of the Company;
b. they have complied with the Code for Independent Directors prescribed under Schedule IV to the
Act; and
c. they have registered themselves with the Independent Director’s Database maintained by the Indian
Institute of Corporate Affairs and have qualified the online proficiency self-assessment test or are
exempted from passing the test as required in terms of Section 150 of the Act read with Rule 6 of
the Companies (Appointment and Qualifications of Directors) Rules, 2014.
d. they had no pecuniary relationship or transactions with the Company, other than sitting fees,
commission and reimbursement of expenses incurred by them for the purpose of attending meetings
of the Board of Directors and Committee(s).
The Board of Directors of the Company has taken on record the declaration and confirmation submitted
by the Independent Directors after undertaking due assessment of the veracity of the same.
15. BOARD MEETINGS:
The Board of Directors duly met Seven (7) times on 11.04.2023, 30.05.2023, 19.07.2023, 14.08.2023,
04.09.2023, 10.11.2023 and 14.02.2024 and in respect of which meetings, proper notices were given
and the proceedings were properly recorded and signed in the Minutes Book maintained for the
purpose.
16. BOARD EVALUATION:
Performance of the Board and Board Committees was evaluated on various parameters such as
structure, composition, diversity, experience, corporate governance, competencies, performance of
specific duties and obligations, quality of decision-making and overall Board effectiveness.
Performance of individual Directors was evaluated on parameters such as meeting attendance,
participation and contribution, engagement with colleagues on the Board, responsibility towards
stakeholders and independent judgement.
All the Directors participated in the evaluation process conducted in February 2024. The Board
discussed the performance evaluation reports of the Board, Board Committees, Individual Directors.
The Board upon discussion noted the inputs of the Directors.
The detailed procedure followed for the performance evaluation of the Board, Committees and
Individual Directors is enumerated in the Corporate Governance Report.
17. STATEMENT SHOWING THE NAMES OF THE TOP TEN EMPLOYEES IN TERMS OF
REMUNERATION DRAWN AND THE NAME OF EVERY EMPLOYEE AS PER RULE 5(2)
& (3) OF THE COMPANIES (APPOINTMENT & REMUNERATION) RULES, 2014:
A table containing the particulars in accordance with the provisions of Section 197(12) of the Act, read
with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 is appended as Annexure IX (a) to the annual Report.
A statement showing the names of the top ten employees in terms of remuneration drawn and the name
of every employee is annexed to the Annual report as Annexure IX (b).
During the year, NONE of the employees is drawing a remuneration of Rs. 1,02,00,000/- and above
per annum or Rs.8,50,000/- and above in aggregate per month, the limits specified under the Section
197(12) of the Companies Act,2013 read with Rules 5(2) and 5(3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.
18. RATIO OF REMUNERATION TO EACH DIRECTOR:
Under section 197(12) of the Companies Act, 2013, and Rule 5(1) (2) & (3) of the Companies
(Appointment & Remuneration) Rules, 2014, the ratio of remuneration to median employees is as
mentioned in Annexure- IX (a).
19. DIRECTOR’S RESPONSIBILITY STATEMENT:
Pursuant to Section 134(5) of the Companies Act, 2013, the Board of Directors, to the best of their
knowledge and ability, confirm that:
(a) In the preparation of the annual accounts, the applicable accounting standards had been followed
along with proper explanation relating to material departures;
(b) 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 and loss of the
company for that period;
(c) The Directors had taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of this Act for safeguarding the assets of the company
and for preventing and detecting fraud and other irregularities;
(d) The Directors had prepared the annual accounts on a going concern basis; and
(e) The Directors had laid down internal financial controls to be followed by the company and that
such internal financial controls are adequate and were operating effectively.
(f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable
laws and that such systems were adequate and operating effectively.
20. DETAILS OF ADEQUACY OF INTERNAL FINANCIAL CONTROLS:
Your Company has well established procedures for internal control across its various locations,
commensurate with its size and operations. The organization is adequately staffed with qualified and
experienced personnel for implementing and monitoring the internal control environment.
The internal audit function is adequately resourced commensurate with the operations of the Company
and reports to the Audit Committee of the Board.
21. DETAILS OF FRAUDS REPORTED BY STATUTORY AUDITORS:
During the Financial Year 2023-24, the Auditors have not reported any matter under section 143(12)
of the Companies Act, 2013, therefore no detail is required to be disclosed under section 134(3) (ca)
of the Companies Act, 2013.
22. CEO/ CFO CERTIFICATION:
As required Regulation 17(8) read with Schedule II of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, the CEO/CFO certification is attached with the annual report as
Annexure VI.
23. INFORMATION ABOUT THE FINANCIAL PERFORMANCE / FINANCIAL POSITION OF
THE SUBSIDIARIES / ASSOCIATES/ JOINT VENTURES:
In accordance with Section 129(3) of the Companies Act, 2013, a statement containing salient features
of the financial statements of the subsidiary company in Form AOC- 1 is annexed as Annexure III
herewith forming part of the Annual Report. In accordance with the proviso to Section 136(1) of the
Companies Act, 2013, the Annual Report of your Company, containing therein its audited standalone
and the consolidated financial statements has been placed on the website of the Company.
24. NAMES OF THE COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS
SUBSIDIARIES, JOINT VENTURES OR ASSOCIATE COMPANIES DURING THE YEAR:
During the year under review, no Company has ceased or become to be its subsidiaries, joint ventures
or associate Company.
25. CONSOLIDATED FINANCIAL STATEMENTS:
In compliance with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
(hereinafter referred to as the ‘Listing Regulations’) and Section 129 of the Companies Act, 2013, the
Consolidated Financial Statements which have been prepared by the Company in accordance with the
applicable provisions of the Companies Act, 2013 and the applicable Indian Accounting Standards
(Ind AS) forms part of this Annual Report.
26. DEPOSITS FROM PUBLIC:
The Company has not accepted any public deposits during the Financial Year ended March 31, 2024
and as such, no amount of principal or interest on public deposits was outstanding as on the date of the
balance sheet.
27. DETAILS OF DEPOSITS NOT IN COMPLIANCE WITH THE REQUIREMENTS OF THE
ACT:
Since the Company has not accepted any deposits during the Financial Year ended March 31, 2024,
there has been no non-compliance with the requirements of the Act.
Pursuant to the Ministry of Corporate Affairs (MCA) notification dated 22nd January 2019 amending
the Companies (Acceptance of Deposits) Rules, 2014, the Company is required to file with the
Registrar of Companies (ROC) requisite returns in Form DPT-3 for outstanding receipt of money/loan
by the Company, which is not considered as deposits.
The Company complied with this requirement within the prescribed timelines.
28. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS:
The company has not given loans, Guarantees or made any investments attracting the provisions of
Section 186 of the Companies Act, 2013 during the year under review.
29. RELATED PARTY TRANSACTIONS:
All related party transactions that were entered into during the financial year were on arm’s length
basis and in the ordinary course of business. The Form AOC-2 pursuant to Section 134(3)(h) of the
Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is annexed
herewith as Annexure-IV to this report.
30. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN
EXCHANGE OUTGO:
The required information as per Sec. 134 (3) (m) of the Companies Act 2013 is provided hereunder:
A. Conservation of Energy: Your Company’s operations are not energy intensive. Adequate
measures have been taken to conserve energy wherever possible by using energy efficient computers
and purchase of energy efficient equipment.
B. Technology Absorption: All the Factors mentioned in Rule 8 (3)(b) Technology absorption are not
applicable to the Company.
C. Foreign Exchange Earnings and Out Go:
Foreign Exchange Earnings : US $36,600
Foreign Exchange Outgo : NIL
31. COMMITTEES:
(I) . AUDIT COMMITTEE
The Audit Committee of the Company is constituted in line with the provisions of Regulation 18(1) of
SEBI (LODR) Regulations with the Stock Exchange read with Section 177 of the Companies Act,
2013 are included in the Corporate Governance report, which forms part of this report
(II) . NOMINATION AND REMUNERATION COMMITTEE
The Nomination and Remuneration Committee of the Company is constituted in line with the
provisions of Regulation 19(1) of SEBI (LODR) Regulations with the Stock Exchange read with
Section 178 of the Companies Act, 2013 are included in the Corporate Governance report, which forms
part of this report.
(III) . STAKEHOLDERS RELATIONSHIP/ INVESTOR GRIEVANCE COMMITTEE
The Stakeholders Relationship Committee of the Company is constituted in line with the provisions
of Regulation 20 of SEBI (LODR) Regulations with the Stock Exchange read with Section 178 of the
Companies Act, 2013 are included in the Corporate Governance report, which forms part of this report.
32. COMPOSITION OF CSR COMMITTEE AND CONTENTS OF CSR POLICY:
Since the Company does not have the net worth of Rs. 500 Crore or more, or turnover of Rs. 1000
Crore or more, or a net profit of Rs. 5 Crore or more during the financial year, section 135 of the
Companies Act, 2013 relating to Corporate Social Responsibility is not applicable and hence the
Company need not adopt any Corporate Social Responsibility Policy.
33. VIGIL MECHANISM/WHISTLE BLOWER POLICY:
The Board of Directors has formulated a Whistle Blower Policy which is in compliance with the
provisions of Section 177(10) of the Companies Act, 2013 and Regulation 22 of the Listing
Regulations. The Company promotes ethical behaviour and has put in place a mechanism for reporting
illegal or unethical behaviour. The Company has a Vigil Mechanism and Whistle-blower policy under
which the employees are free to report violations of applicable laws and regulations and the Code of
Conduct. Employees may report their genuine concerns to the Chairman of the Audit Committee.
During the year under review, no employee was denied access to the Audit Committee.
Vigil Mechanism Policy has been established by the Company for directors and employees to report
genuine concerns pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013. The
same has been placed on the website of the Company www.decipherlabs.in.
34. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:
There are no significant and material orders passed by the regulators /courts that would impact the
going concern status of the Company and its future operations.
35. STATUTORY AUDITORS AND STATUTORY AUDITORS REPORT:
The members of the Company in accordance with Section 139 of the Companies Act, 2013 have passed
a resolution for appointment of M/s. Ramnatham & Rao., Chartered Accountants, Hyderabad as
Statutory Auditors of the Company for a period of 5 years in the AGM held on 25.09.2021 to hold
office up to the conclusion of 40th Annual General Meeting of the Company to be held for the financial
year 2025-2026.
The notes of the financial statements referred to in the Auditors’ Report issued by M/s. Ramnatham&
Rao., Chartered Accountants, Hyderabad for the financial year ended on 31st March, 2024 are self¬
explanatory and do not call for any further comments. The Auditors’ Report does not contain any
qualification, reservation or adverse remark.
36. SECRETARIAL AUDIT REPORT:
In terms of section 204 of the Companies Act, 2013 read with the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014, based upon the recommendations of the Audit
Committee, the Board of Directors had appointed M/s. S.S. Reddy & Associates, Practicing Company
Secretaries as the Secretarial Auditor of the Company, for conducting the Secretarial Audit for
financial year ended March 31, 2024.
The Secretarial Audit was carried out by M/s. S.S. Reddy & Associates, Company Secretaries for the
financial year ended March 31, 2024. The Report given by the Secretarial Auditor is annexed herewith
as Annexure-1 and forms integral part of this Report.
37. ANNUAL SECRETARIAL COMPLIANCE REPORT:
SEBI vide its Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019 read with Regulation
24(A) of the Listing Regulations, directed listed entities to conduct Annual Secretarial compliance
audit from a Practicing Company Secretary of all applicable SEBI Regulations and circulars/guidelines
issued thereunder. Further, Secretarial Compliance Report dated 24th May, 2024, was given by Mr. S.
Sarveswar Reddy, Practicing Company Secretary which was submitted to BSE Limited.
38. INTERNAL AUDITORS:
Pursuant to provisions of Section 138 read with Rule 13 of the Companies (Accounts) Rules, 2014 and
Section 179 read with Rule 8(4) of the Companies (Meetings of Board and its Powers) Rules, 2014;
during the year under review the Internal Audit of the functions and activities of the Company was
undertaken by the Internal Auditor of the Company on quarterly basis.
Deviations are reviewed periodically and due compliance ensured. Summary of Significant Audit
Observations along with recommendations and its implementations are reviewed by the Audit
Committee and concerns, if any, are reported to Board. There were no adverse remarks or qualification
on accounts of the Company from the Internal Auditor.
39. SECRETARIAL STANDARDS
Pursuant to the provisions of Section 118 of the Companies Act, 2013, the Company has complied
with the applicable provisions of the Secretarial Standards issued by the Institute of Company
Secretaries of India and notified by Ministry of Corporate Affairs.
40. DECLARATION FROM DIRECTORS:
None of the Directors of the Company are disqualified from being appointed as Directors as specified
under Section 164(1) and 164(2) of the Act read with Rule 14(1) of the Companies (Appointment and
Qualifications of Directors) Rules, 2014 (including any statutory modification(s) and/or re-
enactment(s) thereof for the time being in force) or are debarred or disqualified by the Securities and
Exchange Board of India (“SEBI”), Ministry of Corporate Affairs (“MCA”) or any other such statutory
authority.
All members of the Board and Senior Management have affirmed compliance with the Code of
Conduct for Board and Senior Management for the financial year 2023-24. The Company had sought
the following certificates from independent and reputed Practicing Company Secretaries confirming
that:
a. none of the Director on the Board of the Company has been debarred or disqualified from being
appointed and/or continuing as Directors by the SEBI/MCA or any other such statutory authority.
b. independence of the Directors of the Company in terms of the provisions of the Act, read with
Schedule IV and Rules issued thereunder and the Listing Regulations.
41. ANNUAL RETURN:
As required pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies
(Management and Administration) Rules, 2014, an annual return is uploaded on website of the
Company www.decipherlabs.in.
42. DETAILS FOR APPLICATION MADE OR PROCEEDING PENDING UNDER
INSOLVENCY AND BANKRUPTCY CODE, 2016:
During the year under review, there were no applications made or proceedings pending in the name of
the Company under Insolvency and Bankruptcy Code, 2016.
43. DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME
SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND
FINANCIAL INSTITUTIONS:
During the year under review, there has been no one time settlement of loans taken from Banks and
Financial Institutions.
44. STATUTORY COMPLIANCE:
The Company has complied with the required provisions relating to statutory compliance with regard
to the affairs of the Company in all respects.
45. FAILURE TO IMPLEMENT CORPORATE ACTIONS:
During the year under review, no corporate actions were done by the Company which were failed to
be implemented.
46. INDUSTRY BASED DISCLOSURES AS MANDATED BY THE RESPECTIVE LAWS
GOVERNING THE COMPANY:
The Company is not a NBFC, Housing Companies etc., and hence Industry based disclosures is not
required.
47. DISCLOSURE ABOUT COST AUDIT:
Maintenance of cost records and requirement of cost audit as prescribed under the provisions of Section
148(1) of the Act, are not applicable for the business activities carried out by the Company.
48. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:
Management discussion and analysis report for the year under review as stipulated under Regulation
34 (e) read with schedule V, Part B of SEBI (Listing Obligations and Disclosure Requirements),
Regulations 2015 with the stock exchange in India is annexed herewith as Annexure- X to this report.
49. FAMILIARISATION PROGRAMMES:
The Company familiarises its Independent Directors on their appointment as such on the Board with
the Company, their roles, rights, responsibilities in the Company, nature of the industry in which the
Company operates, etc. through familiarisation programme. The Company also conducts orientation
programme upon induction of new Directors, as well as other initiatives to update the Directors on a
continuing basis. The familiarisation programme for Independent Directors is disclosed on the
Company’s website www.decipherlabs.in.
50. POLICIES:
The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandated the
formulation of certain policies for all listed companies. All the policies are available on our website
www.decipherlabs.in.
51. INSURANCE:
The properties and assets of your Company are adequately insured.
52. CORPORATE GOVERNANCE:
Your Company has taken adequate steps to ensure compliance with the provisions of Corporate
Governance as prescribed under the Listing Regulations. A separate section on Corporate Governance,
forming a part of this Report and the requisite certificate from the Company’s Auditors confirming
compliance with the conditions of Corporate Governance is attached to the report on Corporate
Governance as Annexure-II.
53. CREDIT & GUARANTEE FACILITIES:
The Company has not availed any credit and guarantee facilities during the year apart from the banking
facilities for its day-to-day operations.
54. RISK MANAGEMENT POLICY:
Business Risk Evaluation and Management is an ongoing process within the Organization. The
Company has a robust risk management framework to identify, monitor and minimize risks and also
to identify business opportunities. As a process, the risks associated with the business are identified
and prioritized based on severity, likelihood and effectiveness of current detection. Such risks are
reviewed by the senior management on a periodical basis.
55. NON-EXECUTIVE DIRECTORS’ COMPENSATION AND DISCLOSURES:
None of the Independent / Non-Executive Directors has any pecuniary relationship or transactions with
the Company which in the Judgement of the Board may affect the independence of the Directors except
Mr. Ajjarapu Janakiram (Non- Executive Director & Promoter) who is holding 16,59,075 Equity
Shares of the Company.
56. CODE OF CONDUCT FOR THE PREVENTION OF INSIDER TRADING:
The Board of Directors has adopted the Insider Trading Policy in accordance with the requirements of
the SEBI (Prohibition of Insider Trading) Regulation, 2015 and the applicable Securities laws. The
Insider Trading Policy of the Company lays down guidelines and procedures to be followed, and
disclosures to be made while dealing with shares of the Company, as well as the consequences of
violation. The policy has been formulated to regulate, monitor and ensure reporting of deals by
employees and to maintain the highest ethical standards of dealing in Company securities.
The Insider Trading Policy of the Company covering code of practices and procedures for fair
disclosure of unpublished price sensitive information and code of conduct for the prevention of insider
trading, is available on our website (www.decipherlabs. in).
57. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:
The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on
Prevention, Prohibition, and Redressal of Sexual Harassment at workplace.
This is in line with provisions of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (TOSH Act’) and the Rules made thereunder. With the objective
of providing a safe working environment, all employees (permanent, contractual, temporary, trainees)
are covered under this Policy. The policy is available on our website (www.decipherlabs.in).
All employees are covered under this policy. The Company is having less than 10 employees and
therefore not required to constitute Internal Complaints Committee. No Complaints were pending at
the beginning of the year or received during the year.
58. EVENT BASED DISCLOSURES:
During the year under review, the Company has not taken up any of the following activities except as
mentioned:
1. Issue of sweat equity share : NA
2. Issue of shares with differential rights : NA
3. Issue of shares under employee’s stock option scheme : NA
4. Disclosure on purchase by Company or giving of loans
by it for purchase of its shares : NA
5. Buy back shares : NA
7. Preferential Allotment of Shares : NA
59. ACKNOWLEDGEMENTS:
Your Directors place on record their appreciation for the overwhelming co-operation and assistance
received from the investors, customers, business associates, bankers, vendors, as well as regulatory
and governmental authorities.
Your Directors also thank the employees at all levels, who through their dedication, co-operation,
support and smart work have enabled the company to achieve a moderate growth and is determined to
poise a rapid and remarkable growth in the year to come.
Your Directors also wish to place on record their appreciation of business constituents, banks and other
financial institutions and shareholders of the Company, SEBI, BSE, NSDL, CDSL, Banks etc. for their
continued support for the growth of the Company.
For Decipher Labs Limited
Sd/- Sd/-
Sushant Mohan Lai Venkateswara Rao Gudipudi
Place: Hyderabad Executive Director Director
Date: 14.08.2024 (DIN: 01227151) (DIN: 02147615)
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