The Board of Directors of your Company is pleased to present the 30th Annual Report along with the audited financial statements,
for the financial year ended March 31,2025.
1. FINANCIAL RESULTS
|
Particulars
|
Consolidated
|
Standalone
|
| |
2024-25
|
2023-24
|
2024-25
|
2023-24
|
|
Revenue from Operations (Net)
|
279.53
|
291.75
|
279.53
|
291.75
|
|
Other Income
|
20.77
|
21.39
|
20.72
|
21.37
|
|
Total Income
|
300.30
|
313.14
|
300.25
|
313.12
|
|
Expenses
|
286.34
|
274.33
|
285.76
|
274.48
|
|
Depreciation
|
12.96
|
12.60
|
12.96
|
12.60
|
|
Total Expenditure
|
299.30
|
286.93
|
298.72
|
287.08
|
|
Profit Before Tax
|
1.00
|
26.21
|
1.53
|
26.04
|
|
Total Tax
|
(4.04)
|
1.97
|
(4.04)
|
1.97
|
|
Profit After Tax
|
5.04
|
24.24
|
5.57
|
24.07
|
1 Crores= 10 Million
The abovementioned figures are extracted from financial statements prepared in accordance with the Indian accounting
standards (IND AS).
The Standalone and Consolidated Financial Statements
of the Company for the financial year 2024-25 are
prepared in compliance with the applicable provisions
of the Companies Act 2013 (the ‘Act') including Indian
Accounting Standards specified under section 133
of the Act. The audited Standalone and Consolidated
Financial Statements together with the Auditors’ Report
thereon forms part of the Annual Report of the financial
year 2024-25. The Auditors’ Report on Standalone and
Consolidated financials is unmodified.
2. COMPANY PERFORMANCE OVERVIEW AND OUTLOOK
The Company recorded a total income of ' 300.30
Crores for the financial year 2024-25 as against
' 313.14 Crores in 2023-24, resulting in a decrease
of 4.10% in the total income during the year under
review on consolidated basis. The Profit after Tax of
the Company was decreased by ' 19.20 Crores from
' 24.24 Crores in the year 2023-24 to ' 5.04 Crores in
the year under review.
Outlook of the business has been discussed in detail
in the "Management Discussion and Analysis Report"
which forms a part of the Annual Report.
3. DIVIDEND
During the financial year 2024-25, the Board of Directors
has decided not to recommend any dividend in order to
strengthen the financial position of the Company. This
decision is in alignment with the Company’s long-term
strategic goals.
4. TRANSFER OF PROFITS TO RESERVES
The Directors do not propose to transfer any amount to
the General Reserve.
5. PUBLIC DEPOSITS
During the year under review, your Company did
not accept any deposits under section 73 and 76 of
the Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Rules, 2014, as amended
from time to time.
6. REPORT ON PERFORMANCE OF SUBSIDIARIES
The Company has two subsidiaries as of March
31, 2025. There are no associates or joint venture
companies within meaning of Section 2(6) of the
Companies Act, 2013. There has been no material
change in the nature of the business of the subsidiaries.
A statement containing salient features of the financial
statements of subsidiary Companies in Form AOC-1,
as required under section 129 (3) of the Companies
Act, 2013, forms a part of this Board’s Report and
is annexed as Annexure A. The audited financial
statements in respect of each of the subsidiaries will
be kept open for inspection at the Registered Office of
the Company on all working days between 11.00 a.m.
to 1:00 p.m. up to the date of the forthcoming AGM.
Further, the Company will make available the audited
annual accounts and related information about the
subsidiary companies, upon request by any Member of
the Company through e-mail.
7. MANAGEMENT DISCUSSION AND ANALYSIS (MD&A)
As per the provisions of Regulation 34(2) of the SEBI
LODR, a detailed review by the Management of the
business operations of the Company is presented
under separate section "Management Discussion and
Analysis Report" (MD&A) which forms a part of this
Annual Report. The MD&A captures the Company’s
performance, industry trends and other material
changes with respect to your Company.
8. CORPORATE GOVERNANCE REPORT
The Company believes in adopting the best practices
of corporate governance. The Company has
complied with the regulatory provisions for Corporate
Governance as prescribed under Schedule V of SEBI
LODR. The quarterly Corporate Governance Reports
are submitted to the stock exchanges in compliance
with the regulatory provisions. A certificate from M/s
J. B. Bhave & Co., Practicing Company Secretaries,
confirming compliance with the conditions of the
Corporate Governance, forms a part of this Annual
Report.
9. BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT (BRSR)
A Business Responsibility and Sustainability Report
as per Regulation 34(2) of the SEBI LODR, detailing
the various initiatives taken by the Company on the
environmental, social and governance front forms an
integral part of this Board Report.
Over 8.6 Lakhs ransomware attacks were prevented
in the financial year 2024-25. The average cost of
ransomware attacks reported was ' 45.3 Crores
approximately (source: purplesec.us).
10. RISK MANAGEMENT
The Company has put in place a robust risk management
framework which facilitates the identification of risks
and also mitigation thereof. The Audit Committee is
updated on the risks on a quarterly basis. There are
no risks which in the opinion of your Board threaten
the existence of the Company. However, risks that may
pose a concern, are explained under Management
Discussion and Analysis which forms part of this
Annual Report.
The Risk Management Committee is Chaired by
Independant Director and the Chairman of the
Committee briefs the Board about significant
discussions held in the Risk Management Committee
meeting.
The Risk Management Policy of the Company is
available on the Company’s website at https://www.
quickheal.co.in/documents/investors/policies/Risk-
Management-Policy.pdf
11. MATERIAL CHANGES AND COMMITMENTS
AFFECTING FINANCIAL POSITION BETWEEN THE
END OF THE FINANCIAL YEAR AND DATE OF THE
REPORT
There have been no other material changes and
commitments which affect the financial position of the
Company that have occurred between the end of the
financial year to which the financial statements relate
and the date of this report.
12. LISTING ON STOCK EXCHANGES
The Company’s shares are listed on BSE Limited and
the National Stock Exchange of India Limited.
13. COMPLIANCE WITH THE CODE OF CONDUCT
A declaration signed by the Chief Executive Officer
affirming compliance with the Company’s Code of
Conduct by the Directors and Senior Management
Personnel, for the financial year 2024-25, as required
under Schedule V of the SEBI LODR forms a part of this
Annual Report.
14. DIRECTORS & KEY MANAGERIAL PERSONNEL
(KMPS)
a. Composition of Board & Details of KMPs
As on March 31, 2025, the Board comprises
of two Executive Directors, five Non-Executive
Independent Directors and one Non-Executive
Non-Independent Director. The Board is
well diversified and consists of one Women
Independent Director. The Non-Executive Non¬
Independent Director resigned from the position
of Director with effect from March 31,2025.
Mr. Kailash Katkar, Chairman and Managing
Director, Mr. Sanjay Katkar, JointManaging Director,
Mr. Vishal Salvi, Chief Executive Officer (CEO), Mr.
Ankit Maheshwari, Chief Financial Officer (CFO),
Mr. Sarang Deshpande, Company Secretary (CS)
and Mr. Vikram Dhanani, Compliance Officer are
the Key Managerial Personnel of the Company
within the meaning of sections 2(51) and 203 of
the Companies Act, 2013 read together with the
Companies (Appointment & Remuneration of
Managerial Personnel) Rules, 2014 and regulation
6 (1) of SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015.
b. Appointment & Cessation during the year:
The Board at its meeting held on April 25, 2024,
had re-appointed Mr. Amitabha Mukhopadhyay as
an Independent Director which was consequently
approved by the shareholders at the Annual
General Meeting held on September 06, 2024,
for Second term of 5 Consecutive years i.e. from
June 10, 2024 to June 09, 2029.
Mr. Kamal Kumar Agarwal was appointed as an
Additional Director in the category of Independent
Director w.e.f. July 26, 2024. Mr. Kamal Kumar
Agarwal was appointed as an Independent
Director at the Annual General Meeting held on
September 06, 2024.
During the year Mr. Kailash Katkar, Chairman
and Managing Director and Mr. Sanjay Katkar,
Joint Managing Director whose term of
appointment were expiring on March 31, 2025,
were re-appointed in Board Meeting held on
February 04, 2025 for a period of five years with
effect from April 01, 2025 to March 31, 2030,
Subsequently, the appointment and remuneration
of Mr. Kailash Katkar and Mr. Sanjay Katkar was
approved at the Extra-ordinary General Meeting
held on June 20, 2025.
Mr. Vikram Dhanani appointed as Key Managerial
Personnel with effect from February 04, 2025 as
per SEBI LODR.
Mr. Shailesh Lakhani, Non-Executive Non¬
Independent Director resigned from the position
of Director effective March 31,2025.
c. Policy on Director's Appointment and
Remuneration
The details including the composition and terms
of reference of the Nomination and Remuneration
Committee and the meetings thereof held during
the financial year 2024-25 and the Remuneration
Policy of the Company and other matters provided
in Section 178(3) of the Act are given in the Report
on Corporate Governance section forming part of
this Annual Report.
The Policy for appointment of a new Director
on the Board is available on the Company’s
website https://www.quickheal.co.in/
documents/investors/policies/Nomination and
Remuneration Policy.pdf
15. BOARD AND ITS COMMITTEE'S MEETINGS
The Board of Directors met 5 (five) times during
the Financial Year 2024-25. The maximum time
gap between any two meetings did not exceed
the prescribed period of one hundred twenty days.
The details of the attendance of Directors at the
Board Meetings and Committees Meetings such as
Audit Committee, Nomination and Remuneration
Committee, Stakeholders Relationship Committee,
Risk Management Committee and Corporate Social
Responsibility Committee are given in the Corporate
Governance Report which forms part of this Annual
Report.
16. DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013,
the Board of Directors of your Company to the best of
their knowledge and ability hereby state and confirm
that:
a) In the preparation of the annual accounts for
the financial year ended March 31, 2025, 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) They 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) The annual accounts have been prepared on a
going concern basis;
e) Proper internal financial controls have been laid
down in the Company that are adequate and were
operating effectively.
f) Proper systems to ensure compliance with
the provisions of all applicable laws have been
devised and such systems are adequate and are
operating effectively.
17. DECLARATION OF INDEPENDENCE BY INDEPENDENT
DIRECTORS
The Company has received necessary declarations
from each Independent Directors under section 149(7)
of the Act and Regulation 25(8) of SEBI LODR that he/
she fulfills the criteria of Independence as laid down
in Section 149(6) of the Act and Regulation 16(1)(b) of
SEBI LODR respectively.
The Board of Directors has evaluated the integrity,
expertise, experience and proficiency of the
Independent Directors appointed during the financial
year. Based on such evaluation, the Board is of the
opinion that the Independent Directors appointed
possess the requisite integrity, relevant expertise, rich
experience and proficiency required for effectively
discharging their duties as Independent Directors of
the Company.
The Independent Directors have complied with the
Code for Independent Directors prescribed in Schedule
IV to the Act and the Code of Conduct for Directors and
Senior Management personnel of the Company.
Based on the confirmations/disclosures received
from the Directors under Section 149(7) of the
Companies Act, 2013 and regulation 25(8) of SEBI
LODR on evaluation of the relationships disclosed, the
following Non-Executive Directors are considered as
an Independent Directors:
a. Mr. Amitabha Mukhopadhyay
b. Ms. Apurva Joshi
c. Mr. Bhushan Gokhale
d. Mr. Richard Stiennon
e. Mr. Kamal Kumar Agarwal
18. BOARD EVALUATION
The Board has established a comprehensive
process to evaluate the performance of the Board,
its Committees and of Individual Directors. The
performance evaluation matrix defining the criteria
of evaluation for each of the above has been put in
place. The performance evaluation of the Independent
Directors was carried out by the other members of
the Board (excluding the Director being evaluated).
A meeting of the Independent Directors was held on
March 27, 2025, to review the performance of Non¬
Independent Directors and the Board as a whole.
The Chairperson of the Nomination & Remuneration
Committee had updated the other members of the
Board about the outcome of the evaluation process.
19. SUCCESSION PLANNING
The Nomination and Remuneration Committee (NRC),
in collaboration with the Board, strategically manages
leadership succession planning for both Board
and senior management roles, ensuring seamless
transitions. The Company prioritizes maintaining a
dynamic balance of skills and experience, continuously
integrating fresh perspectives while upholding
continuity. Crucially, promoting senior talent from
within fuels the ambitions of the broader workforce,
motivating them to pursue and achieve future
leadership opportunities.
20. COMMITTEES OF THE BOARD
During the year under review, the composition of different Committees of your Board of Directors is given hereunder:
|
Sr.
No
|
Committee
|
Composition
|
|
1
|
Audit Committee
|
Mr. Amitabha Mukhopadhyay
(Chairperson)
|
Mr. Sanjay Katkar
|
Mr. Bhushan Gokhale
|
Ms. Apurva Joshi
|
|
2
|
Nomination and
Remuneration Committee
|
Ms. Apurva Joshi
(Chairperson)
|
Mr. Kailash Katkar
|
Mr. Amitabha
Mukhopadhyay
|
-
|
|
3
|
Stakeholders Relationship
Committee
|
Mr. Bhushan Gokhale
(Chairperson)
|
Mr. Kailash Katkar
|
Mr. Amitabha
Mukhopadhyay
|
Ms. Apurva Joshi
|
|
4
|
Risk Management
Committee
|
Ms. Apurva Joshi
(Chairperson)
|
Mr. Kailash Katkar
|
Mr. Sanjay Katkar
|
-
|
|
5
|
CSR Committee
|
Ms. Apurva Joshi
(Chairperson)
|
Mr. Kailash Katkar
|
Mr. Sanjay Katkar
|
-
|
21. SECRETARIAL AUDIT REPORT
As required by Section 204 of the Companies Act, 2013 and Rules made thereunder and regulation 24A of SEBI LODR, the
Board appointed M/s. J. B. Bhave & Co., Practicing Company Secretaries, Pune as the Secretarial Auditors of the Company
for the financial year 2024-25. There are no qualifications/ observations/ remarks in the Secretarial Audit Report for the
year ended March 31,2025. The Secretarial Auditor has not reported any fraud during the financial year 2024-25.
The Secretarial Auditor’s Report forms part of this Annual Report, annexed as Annexure B.
22. STATUTORY AUDITORS
M/s M S K A & Associates, Chartered Accountants
(Firm Registration No. 105047W), were appointed
by the Shareholders at the 29th AGM held on
September 06, 2024, as Statutory Auditors for a
term of five consecutive years to hold office until the
conclusion of ensuing 34th AGM.
23. INTERNAL AUDITORS
The Board appointed M/s. Protiviti India Member
Private Limited, as Internal Auditors of the Company
for the financial year 2024-25.
24. REMUNERATION OF DIRECTORS, KEY MANAGERIAL
PERSONNEL AND SENIOR MANAGEMENT
As required under Section 197 (12) of the Act read with
Rule 5 of Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014, a statement
showing median details of personnel drawing
remuneration in excess of the prescribed limit under
the said rules, are annexed as ‘Annexure C' to this
Boards’ Report. The Statement containing names of
top ten employees, in terms of remuneration drawn
and the particulars of employees as required under
section 197 (12) of the act read with Rule 5(2) and 5(3)
of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 will be made
available to any member by way of e-mail upon request.
In terms of proviso to Section 136(1) of the Act, the
Report and Accounts are being sent to the members
excluding the aforesaid Annexure. The said Annexures
are also open for inspection at the registered office up
to the date of the ensuing Annual General Meeting.
25. EMPLOYEE STOCK OPTION SCHEME
The Company has two Employee Stock Option Plans
namely, Employees Stock Option Scheme 2014 and
Employees Stock Option Scheme 2021 for granting
Term based and Performance-based Stock Options to
Employees.
The above schemes are in line with the Securities
and Exchange Board of India (Share Based Employee
Benefits and Sweat Equity) Regulation, 2021 ("SBEB
Regulations"). The Company has obtained a certificate
from the Secretarial Auditors of the Company
stating that the Schemes have been implemented
in accordance with the SBEB Regulations and the
resolutions passed by the members. The certificates
are available for inspection by members in electronic
mode. The details as required to be disclosed under the
SBEB Regulations can be accessed at https://www.
quickheal.co.in/investors.
During the financial year under report, no employee has
been granted stock options, equal to or exceeding 1%
of the issued capital (excluding outstanding warrants
and conversions) of your Company. The details of
activities under the scheme have been summarized
in the Notes forming part of Financial Statements and
annexed as Annexure D.
26. SECRETARIAL STANDARDS
During the financial year under review, the Company
has followed the applicable Secretarial Standards.
27. CONSERVATION OF ENERGY, TECHNOLOGY
ABSORPTION AND FOREIGN EXCHANGE EARNINGS
AND OUTGO
Particulars required to be furnished under Sub-section
(3) (m) of Section 134 of the Act read with rule 8 of the
Companies (Accounts) Rules, 2014 are as under:
a. Energy Conservation
1. The Company has generated 6.98% of its
total power requirement for the R&D centre
at Thube Park, Shivaji Nagar, Pune, through
renewable solar energy. This marks the
sixth consecutive year of renewable power
generation from the 45 kW solar plant
installed at the facility.
Policy benefits:- The Company is benefiting
from lower electricity tariffs and electricity
duty exemptions under the Maharashtra IT
Policy for its Head Office and R&D centre
in Pune. Additionally, the Nashik office was
included under the same policy benefits
during 2024-25.
2. We encourage sustainability by promoting
metro travel, adopting electric vehicles and
reducing internal air travel through virtual
meetings.
b. Technology Absorption, Adaptation and
Innovation
The Company continues to use the latest
technology for improving the productivity and
quality of its products and services and also
focuses on innovation and protecting consumers
around the world with the latest technology. Few
of the steps taken are provided below:
1. Rooted in culture of Innovation, our
engineering team submitted over 236 ideas
at the "Ideathon" series out of which 67 ideas
made to the final round. The Company has
already adopted over 20 innovative ideas.
2. Strengthen capability to detect AI generated
misinformation, deep fakes and malwares.
3. Collaboration with top tier research
organizations in Banking and Cybersecurity.
4. Promote and fund team members to
represent & participate in Technology
Summits, research conferences and
hackathons.
5. Our R&D team continues to do ground
breaking research which resulted in our ideas
being selected at marquee conferences
across the globe. Team presented at 9
prestigious international conferences and
4 national conferences. Notably, Botconf
(France), 2024, Virus Bulletin (Dublin), Avaar
(Chennai) and C0c0n (Gandhinagar).
6. The Company has earned 4 international
certifications from AVLab and AV Test
Institute, as well as 1 additional Patent in
the financial year 2024-25. To know about 9
Patents please refer to page no 4 and 5.
7. During the financial year your Company
has spent ' 135.95 Crores on Research and
Development.
c. Foreign Exchange earnings and outgo:
Total foreign exchange earnings and outgo for the
financial year were as follows:
|
Particulars
|
Year ended
March
31, 2025
|
Year ended
March
31, 2024
|
|
Total foreign
|
6.43
|
5.44
|
|
exchange outgo
|
|
|
|
Total foreign
|
18.94
|
18.53
|
|
exchange earnings
|
|
|
28. PARTICULARS OF LOANS, GUARANTEES AND
INVESTMENTS
There are no Loans, Guarantees provided or
Investments made by the Company as on
March 31,2025.
29. RELATED PARTY TRANSACTIONS
All related party transactions carried out during the
year were carried out on an arm’s length basis and
in the ordinary course of business. There were no
materially significant related party transactions with
the Company’s Promoters, Directors, Management or
their relatives, which could have had a potential conflict
with the interests of the Company.
All the transactions with related parties were approved
by the Audit Committee and the Board of Directors
pursuant to provisions of Regulation 23 of the SEBI
LODR. [The particulars of contracts entered into
during the year are given in Form AOC-2 enclosed as
Annexure E].
The Board has approved a policy for related party
transactions which is available on the Company’s
website at https://www.quickheal.co.in/documents/
investors/policies/policy-on-related-party-
transactions-25.pdf.
30. CORPORATE SOCIAL RESPONSIBILITY ("CSR")
The Company has a strong commitment to the society
we live in. Your Company has chosen 'Quick Heal
Foundation’ and implements its CSR objects through
the Foundation. The Company strives to promote
Cybersecurity awareness, promotion of education and
community development impacting over 68 Lakhs lives.
The Company’s CSR policy is available on our website at
https://www.quickheal.co.in/investors/company-policies.
During the year under review, the Company spent a
total of ' 1.66 Crores on CSR activities, vis-a-vis ' 0.87
Crores i.e. 2% of the Average Net Profit calculated as
per provisions of the Section 135 of the Companies Act,
2013. The Company continues to remain committed
towards undertaking CSR activities for the welfare of
society.
A detailed report on CSR activities of your Company
under the provisions of the Companies Act, 2013
during the financial year 2024-25 is given as
Annexure F.
31. ADEQUACY OF INTERNAL FINANCIAL CONTROLS
The Board of Directors of your Company are responsible
for ensuring that the Internal Financial Controls ("IFC")
are laid down in the Company and that such controls are
adequate and are operating efficiently and effectively.
The Company’s IFC policies are commensurate with
its requirements and are operating effectively. The IFC
covered the policies and procedures adopted by the
Company for ensuring orderly and efficient conduct
of business including adherence to the Company’s
policies, safeguarding of the assets of the Company,
prevention and detection of fraud and errors, accuracy
and completeness of accounting records and the
timely preparation of reliable financial information.
32. VIGIL MECHANISM/WHISTLE BLOWER POLICY
The Company has a well laid down Vigil Mechanism/
Whistle Blower Policy as required under Section 177(9)
of the Companies Act, 2013 and regulation 22 of SEBI
LODR, details of which are given in the Report on
Corporate Governance forming a part of this Annual
Report. It provides for adequate safeguard against
victimization of persons who avails this mechanism
and allows direct access to the Chairman of the Audit
Committee. The Company has also uploaded the said
Whistle Blower Policy on its website at https://www.
quickheal.co.in/investors/company-policies.
33. INVESTOR EDUCATION AND PROTECTION FUND
In accordance with the provisions of Sections 124 and
125 of the Act and Investor Education and Protection
Fund (Accounting, Audit, Transfer and Refund) Rules,
2016 ("IEPF Rules"), dividends of a company which
remain unpaid or unclaimed for a period of seven
years from the date of transfer to the Unpaid Dividend
Account shall be transferred by the Company to the
Investor Education and Protection Fund ("IEPF"). In
terms of the foregoing provisions of the Act, Dividend
of ' 1,78,845/- and 584 number of shares were
transferred to the IEPF by the Company during the
financial year 2024-25.
34. ANNUAL RETURN
Pursuant to Section 92(3) of the Act, the Draft Annual
Return as on March 31,2025 is available on Companies
website on https://www.quickheal.co.in/documents/
investors/quick-heal-annual-return-2025.pdf
35. DISCLOSURE UNDER THE SEXUAL HARASSMENT
OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place a Policy on Prevention
of Sexual Harassment at workplace in line with
requirements of the Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal)
Act, 2013. All employees (permanent, contractual,
temporary, trainees) are covered under this policy.
Internal Committee(s) has been set up across all its
required locations in India to address complaints
received regarding sexual harassment. There were no
complaints reported during the financial year 2024-25.
36. OTHER MATTERS
The Directors state that during the financial year under
review -
a) Neither the Managing Director nor the Whole¬
time Director of the Company received any
remuneration or commission from any of its
subsidiaries.
b) No significant or material orders were passed
by the Regulators or Courts or Tribunals which
impact the going concern status and the
Company’s operations in future.
c) No fraud has been reported by the Auditors to
the Audit Committee or the Board under section
134(3).
d) There is no change in the nature of the business
of the Company.
e) There is no proceeding pending under the
Insolvency and Bankruptcy Code 2016.
f) There is no instance of one-time settlement with
any Bank or Financial Institution.
37. APPRECIATION
The Board places on record sincere gratitude and
appreciation for all the employees, customers, vendors,
investors, bankers, end users, dealers, distributors,
business partners and other business constituents
during the year under review. We also thank for the
support received from various government and
regulatory authorities.
For and on the behalf of the Board of Directors
Quick Heal Technologies Limited
Kailash Katkar Sanjay Katkar
Chairman & Managing Director Joint Managing Director
(DIN: 00397191) (DIN: 00397277)
Place: Pune
Date: May 06, 2025
| 