Relic Technologies Ltd Management Discussions

This report discusses the operations and financial performance of your Company Overall Review:

The Company is member of NSE and engaged in share broking business only. Companys main clients include Institutional client.

Opportunities and Threats

The Economic demand slow down presents at real challenge to growing volumes. The inflation figures and recent emerging developments across the world such as Corono virus has potential to affect the activities of the industry.

Internal control systems and their adequacy:

The Company has proper and adequate internal controls commensurate with its size and the nature of its operations in order to ensure that all assets are properly safeguarded against loss from unauthorized use or disposal. All significant issues are brought to the attention of the Audit Committee of the Board.

Some significant features of the internal control systems are:

• Corporate policies / procedures on accounting and major processes;

• Management review system, preparation and monitoring of annual budgets;

• Effective IT systems and procedures to aid business performance, automation and build systematic controls; and

• An on-going program for strengthening of the code.

Audit committee of the board of directors, compromising of independent directors, regularly reviews the audit plans, significant audit findings, adequacy of internal controls, compliance with accounting standards as well as reasons for changes in accounting policies and practices, etc.

Companys financial performance & analysis:

Financial performance and review of operation from part of the directors report which details the companys financial and operational performance.

Human resource development / industrial relations:

The Management has a strong belief that the industrial relations will remain cordial and harmonious and continues to be so in the year ahead.

Cautionary Statement:

Though the statement and views expressed in the above said report are on the basis of best judgment but the actual future results might differ from whatever is stated in the report.

Registered Office:

For RELIC TECHNOLOGIES LIMITED

J Block, Bhangwadi Shopping Centre, Kalbadevi Road,

Mumbai - 400 002 Date: 10th August, 2023

By order Of the Board of Directors

BAIJOO RAVAL

WHOLE TIME DIRECTOR (DIN No.00429398)

6, SAVITRI SMRUTI PT MALAVIYA ROAD, RAM NAGAR DOMBIVALI. MUMBAI-MH-421201,Gmail: udayindia2006@yahoo.com