Dear Members,
Quick Heal Technologies Limited
The Board of Directors of your Company is pleased to present the 28th Annual
Report along with the audited financial statements, for the financial year ended March
31,2023.
1. FINANCIAL RESULTS:
(Rs.' in Crores)
Particulars |
Consolidated |
Standalone |
|
2022-2023 |
2021-2022 |
2022-2023 |
2021-2022 |
Revenue from Operations (Net) |
278.09 |
341.90 |
278.11 |
341.55 |
Other Income |
22.13 |
19.20 |
22.38 |
19.17 |
Total Income |
300.22 |
361.10 |
300.49 |
360.72 |
Expenses |
276.21 |
235.04 |
275.31 |
235.72 |
Depreciation |
15.99 |
17.38 |
15.99 |
17.38 |
Total Expenditure |
292.20 |
252.42 |
291.30 |
253.10 |
Profit Before Tax |
8.02 |
108.68 |
9.29 |
103.56 |
Total Tax |
1.62 |
25.49 |
1.59 |
25.37 |
Profit After Tax |
6.40 |
83.19 |
7.70 |
78.19 |
1 Crore= 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 2022-23 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
2022-23. The Auditors' Report on Standalone and consolidated financials is unmodified.
2. COMPANY PERFORMANCE OVERVIEW AND OUTLOOK
Your Company recorded a total income of ' 300.22 Crores for the financial year 2022-23
as against ' 361.10 Crores in 2021-22 resulting in a decrease of 16.86% in the total
income during the year under review on consolidated basis. The Profit after Tax of the
Company was decreased by 92.31% from ' 83.19 Crores in the year 2021-22 to ' 6.40 Crores
in the year under review.
Outlook of the business has been discussed in detail in the "Management Discussion
and Analyzes" which forms a part of this Annual Report.
3. DIVIDEND
The Board of Directors of your Company have recommended a final Dividend @ 25% i.e. '
2.50/- per equity share, for the financial year 2022-23. The payment of aforesaid Dividend
is subject to the approval of the Members at the ensuing Annual General Meeting.
The total dividend for the financial year 2022-23 would involve a total outflow of '
13.27 Crores resulting in a dividend pay-out ratio of 172.31 % of the standalone profits
of the Company.
In view of the changes made under the Income Tax Act, 1961, by the Finance Act, 2020,
the dividends paid or distributed by the Company shall be taxable in the hands of the
shareholders. The Company shall, accordingly, make the payment of the final divided after
deduction of tax at source.
The dividend recommended for the financial year 202223, is in compliance with the
Dividend Distribution Policy in terms of regulation 43A of the SEBI LODR Regulations. The
Dividend Distribution Policy of the Company is also hosted on the website of the Company
and can be viewed at https://www.quickheal. co.in/
documents/investors/Dividend-Distribution- Policy-21. pdf.
4. BUYBACK OF EQUITY SHARES
Pursuant to the approval of the Board on July 21, 2022 and approval of shareholders
through special resolution dated August 26, 2022 passed through postal ballot/ e-voting,
your Company completed buyback of 50,00,000 fully paid up equity shares of face value of
'10/- each of the Company for an aggregate amount of '150 Crores, being 24.71% of the
aggregate of the fully paid up equity share capital and free reserves as per the last
audited financial statements of the Company as on March 31, 2022 on standalone basis total
paid
up equity share capital, at ' 300/- per equity share, in October 2022. The
buyback was made from all existing shareholders of the Company as on September 14, 2022,
being the record date for the purpose, on a proportionate basis under the tender offer
route in accordance with the provisions contained in the Securities and Exchange Board of
India (Buy Back of Securities) Regulations, 2018 and the Companies Act, 2013 and rules
made thereunder. The buyback was completed on October 27, 2022. The pre-buyback paid up
capital of the Company was ' 58,07,29,010/- and after extinguishing 50,00,000
equity shares, the postbuyback paid up share capital is ' 53,07,29,010/-.
5. TRANSFER OF PROFITS TO RESERVES
Your Directors have decided not to transfer any amount to the General Reserve and to
carry forward the entire surplus under the Statement of Profit & Loss.
As per section 69 of the Companies Act, 2013, the Company has created Capital
Redemption Reserve of ' 5 Crores which is equal to the nominal value of the shares
bought back as an appropriation from Securities Premium Reserve.
6. PUBLIC DEPOSITS
During the year under review, your Company did not accept any deposits under section 73
and 74 of the Companies Act, 2013 read with the Companies (Acceptance of Deposits) Rules,
2014, as amended from time to time.
7. REPORT ON PERFORMANCE OF SUBSIDIARIES
The Company has two subsidiaries as of March 31, 2023. There are no associates or joint
venture company(ies) 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. Quick Heal
Technologies Japan KK got de- registered w.e.f. October 07, 2022.
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 Directors' Report and is annexed as Annexure A. The audited financial
statements in respect of each of the subsidiaries shall 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.
8. MANAGEMENT DISCUSSION AND ANALYZIS
As per the provisions of Regulation 34 of the SEBI LODR Regulations a detailed review
by the Management of the business operations of the Company is presented under separate
section "Management Discussion and Analyzes which forms a part of this Annual
Report. The MD&A Report captures your Company's performance, industry trends and other
material changes with respect to your Company.
9. CORPORATE GOVERNANCE REPORT
Your 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 Regulations. 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.
10. BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT
A Business Responsibility and Sustainability Report as per Regulation 34 of the SEBI
LODR Regulations, detailing the various initiatives taken by the Company on the
environmental, social and governance front forms an integral part of this Annual Report.
11. INTERGATED REPORT
The Company has provided an Integrated Report which encompasses both financial and
non-financial information to enable the Members to take well- informed decisions and have
a better understanding of the Company's long-term perspective. The Report also touches
upon aspects such as organization's strategy, governance framework, performance and
prospects of value creation based on the six forms of capital viz. financial, service,
intellectual, human, social & relationship and natural capital.
12. RISK MANAGEMENT
The Company has put in place a robust risk management framework which facilitates the
identification of risks and also mitigation thereof. The Risk Management Committee &
Audit Committee are 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.
13. 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.
14. LISTING ON STOCK EXCHANGES
The Company's shares are listed on BSE Limited and the National Stock Exchange of India
Limited.
15. COMPLIANCE WITH THE CODE OF CONDUCT
A declaration signed by the Managing Director & CEO affirming compliance with the
Company's Code of Conduct by the Directors and Senior Management Personnel, for the
financial year 2022-23, as required under Schedule V of the SEBI LODR Regulations forms a
part of this Annual Report.
16. DIRECTORS & KEY MANAGERIAL PERSONNEL
(KMPS)
a. Composition of Board & Details of KMPs
As on March 31, 2023, the Board comprised of two Executive Directors, four
Non-Executive Independent Directors and one Non-Executive Director. The Board is well
diversified and consists of one Women Independent Director.
Mr. Kailash Katkar, Managing Director & CEO, Mr. Sanjay Katkar, Joint Managing
Director & CTO, Mr. Navin Sharma, Chief Financial Officer (''CFO'') and Mr. Srinivasa
Rao Anasingaraju, Company Secretary 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, as on
March 31, 2023.
b. Appointment & Cessation during the year:
Mr. Kailash Katkar (DIN: 00397191), Managing Director & CEO of the Company, retires
by rotation at the ensuing AGM and, being eligible, offers himself for re- appointment. A
Profile of Mr. Kailash Katkar, as required by Regulation 36(3) of the SEBI LODR
Regulations is given in the Notice convening the forthcoming AGM.
During the year Mr. Mehul Savla resigned as Independent Director w.e.f. November 25,
2022. The Board places on record the contributions made by Mr. Mehul Savla during his
tenure as an Independent Director. Mr. Bhushan Gokhale's appointment, pursuant to he is
attaining the age of 75 years was approved by shareholders vide postal ballot/E-voting on
December 25, 2022.
Mr. Navin Sharma resigned as CFO & KMP w.e.f. April 18, 2023
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 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 Company's
website at https:// www.quickheal.co.in/documents/investors/
policies/Nomination_and_Remuneration_Policy. pdf
17. BOARD AND ITS COMMITTEE'S MEETINGS
During the financial year 2022-23, five Board meetings were held on May 05, 2022, July
21, 2022, October 19, 2022, January 24, 2023 and March 13, 2023 respectively. 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,
Stakeholder Relationship Committee, Risk Management Committee and Corporate Social
Responsibility Committee are given in the corporate Governance Report which forms part of
this Report.
18. 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 year ended March 31, 2023, 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
and loss 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.
19. DECLARATION OF INDEPENDENCE BY INDEPENDENT DIRECTORS
The Company has received necessary declarations from each Independent Director under
section 149(7) of the Companies Act, 2013 that he/she fulfils the criteria of independence
laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25 of SEBI LODR
Regulations.
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 on evaluation of the relationships disclosed, the following
Non-Executive Directors are considered as Independent Directors:
a. Mr. Amitabha Mukhopadhyay
b. Ms. Apurva Joshi
c. Mr. Bhushan Gokhale
d. Mr. Richard Stiennon
20. 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 without the presence of Non-Independent Directors and representatives of the
management, was held on March 23, 2023, 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.
21. SUCCESSION PLANNING
We have an effective mechanism for succession planning which focuses on orderly
succession of board members and senior management team. The Nomination and Remuneration
Committee implements this mechanism, with the help of HR and in concurrence with the
Board.
This process for senior management was initiated by defining the unique roles by
differentiating competencies. The next step was key role identification and succession
planning design where certain key business roles were identified which will enhance
organizational performance and provides long term competitive advantage. Now we are in the
completing stage of final step i.e identification of successors and by providing required
training to those successors so as to build leadership capabilities across all business
units and mitigating risk of loss of experienced leadership.
22. 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 |
Mr. Mehul Savla# |
Ms. Apurva Joshi## |
2 Nomination and Remuneration Committee |
Mr. Mehul Savla (Chairperson)# |
Mr. Kailash Katkar |
Mr. Amitabha Mukhopadhyay |
Ms. Apurva Joshi |
- |
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 |
- |
- |
# resigned w.e.f. November 25, 2022.
## Appointed as a Member of Committee effective March 29, 2023.
23. SECRETARIAL AUDIT REPORT
As required by Section 204 of the Companies Act, 2013 and Rules made thereunder, the
Board appointed M/s. J B Bhave & Co., Practicing Company Secretaries, Pune as the
Secretarial Auditors of the Company for the financial year 2023-24. There are no
qualifications/ observations/ remarks in the Secretarial Audit Report for the year ended
March 31, 2023. The Secretarial Auditor has not reported any fraud during the financial
year.
The Secretarial Auditor's Report forms part of this Annual Report, annexed as Annexure
B.
24. STATUTORY AUDITORS
M/s MSKA & Associates, Chartered Accountants (Firm Registration No. 105047W), were
appointed by the Shareholders at the 24th AGM held on July 15, 2019, as
Statutory Auditors for a term of five consecutive years to hold office until conclusion of
29th AGM. Pursuant to the amendment to Section 139 of the Companies Act, 2013
effective from May 07, 2018, ratification by shareholders every year for the appointment
of Statutory Auditors is no longer required and accordingly, the Notice of ensuing 28th
AGM does not include the proposal for seeking shareholders' approval for ratification of
Statutory Auditors appointment.
25. COST RECORDS
As per the Companies (Cost Records and Audit) Rules, 2014, the Cost Records to be
maintained by the Company for certain products. The Company has maintained all the
required records and received a compliance report on the same from M/s. Bhavesh Marolia
& Associates, as the Cost Auditors of the Company.
26. INTERNAL AUDITORS
The Board appointed Ernst & Young LLP, Chartered Accountants, as Internal Auditors
of the Company for the financial year 2023-24.
27. REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSOANNEL 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
details of personnel drawing remuneration in excess of the prescribed limit under the said
rules, are annexed as Annexure C' to the Directors' Report. The Statement containing
names of top ten employees, in terms of remuneration drawn and the particulars ofemployees
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 is provided in
a separate statement in part B of 'Annexure C'.
The remuneration already paid to Mr. Kailash Katkar, Managing Director & CEO &
Mr. Sanjay Katkar, Joint Managing Director & CTO of the Company for the financial year
2022-23, was in excess of the limits prescribed under Schedule V of the Act. It was agreed
that the excess remuneration paid shall be recovered from them within a period of one
year.
Further, due to inadequacy of profits, the commission payable to Independent Directors
for the year 2022-23 shall be as per the limits prescribed under Schedule V of the Act,
post approval of shareholders in ensuing AGM.
28. EMPLOYEE STOCK OPTION SCHEME
Your Company has three Employee Stock Option Plans namely, Employees Stock Option
Scheme 2010, Employees Stock Option Scheme 2014 and Employees Stock Option Scheme 2021 for
granting term based and performance-based Stock Options to Employees. Since ESOP Scheme
2010 was exhausted, details of the scheme are not provided in this report.
The above schemes are in line with the Securities and Exchange Board of India (Share
Based Employee Benefits) Regulation, 2014 ("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 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.
29. SECRETARIAL STANDARDS
The Company has followed the applicable Secretarial Standards, i.e SS-1 and SS-2,
relating to 'Meetings of the Board of Directors' and General Meetings' respectively.
30. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND
OUTGO
Particulars required to be furnished under the Companies (Disclosure of Particulars in
the Report of Board of Directors) Rules, 1988 are as under:
a. Energy Conservation
The operations of the Company involve low energy consumption. The Company has ensured
that adequate measures are being taken to conserve energy.
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. With its continued focus on
R&D, the Company aims to release newer features as well as newer products in the
retail as well as enterprise & government segment.
The Company has intensified its efforts on unique opportunities which the small and
mid-size businesses are projecting with the digitization of India. Developing products
that will address the dynamic cyber threats to these businesses and protecting their
valuable data is an important area where the Company is innovating. In coming years, more
investment will go into R&D of several technologies targeted towards products for
enterprise, government and retail segments of your Company.
c. Foreign Exchange earnings and outgo:
Total foreign exchange earnings and outgo for the financial year were as follows:
(Rs.' in Crores)
Particulars |
Year ended March 31, 2023 |
Year ended March 31, 2022 |
Total foreign |
8.29 |
7.51 |
exchange outgo |
|
|
Total foreign |
15.03 |
14.94 |
exchange earnings |
|
|
31. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS
There are no Loans, Guarantees provided by the Company as on March 31,2023.
32. RELATED PARTY TRANSACTIONS
All the 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. The particulars of contracts entered into during the year are given in
Form AOC-2 enclosed as Annexure E.
33. CORPORATE SOCIAL RESPONSIBILITY ("CSR")
Your Company has a strong commitment to the society we live in. Your Company had formed
a public charitable trust 'Quick Heal Foundation' and implements its CSR objects through
the Foundation. The Company strives to promote Cyber security awareness, promotion of
education and community development. 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 ' 2,30,70,000/- on CSR activities, vis-a-vis '
2,30,60,811/- i.e. 2% 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 2022-23 is given as Annexure 'F'.
34. 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.
35. VIGIL MECHANISM/WHISTLE BLOWER POLICY
The Company has a well laid down Vigil Mechanism/ Whistle Blower Policy, details of
which are given in the
Report on Corporate Governance forming a part of this Annual Report. The Company has
also uploaded the said Whistle Blower Policy on its website at https:// www.
quickheal.co.in/investors/company-policies.
36. 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 consecutive 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, no dividend amount or
shares were required to be transferred to the IEPF by the Company during the year ended
March 31,2023.
However, dividend remain unclaimed from 2015-16 will be transferred to IEPF account in
FY 2023-24.
37. OTHER MATTERS
Your Directors state that during the financial year under review -
i. Neither the Managing Director nor the Wholetime Director of the Company received any
remuneration or commission from any of its subsidiaries.
ii. 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.
iii. No fraud has been reported by the Auditors to the Audit Committee or the Board
under section 134(3).
iv. There is no change in the nature of the business of the Company.
v. There is no proceeding pending under Insolvency and Bankruptcy Code, 2016
vi. There is no instance of one-time settlement with any Bank or Financial Institution.
38. ANNUAL RETURN
Pursuant to Section 92(3) of the Act, the Annual Return as on March 31, 2023 is
available on Companies website on https://www.quickheal.co.in/investors/ financial-
information#annualResults
39. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy 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 2022-23.
40. APPRECIATION
Your Board places on record sincere gratitude and appreciation for all the employees
who had, mostly through remote working, during the pandemic time delivered as per
organizational requirements. The Board conveys its appreciation for its customers,
vendors, investors, bankers, end users, dealers, distributors, business partners and other
business constituents during the year under review. We also thank the support received
from various government and regulatory authorities.
For and on the behalf of the Board of Directors Quick Heal Technologies Limited
Sd/- |
Sd/- |
Kailash Katkar |
Sanjay Katkar |
Managing Director & CEO |
Joint Managing Director & CTO |
(DIN: 00397191) |
(DIN: 00397277) |
Place: Pune |
|
Date: April 17, 2023 |
|
|