Omega Interactive Technologies Ltd. — Annual Report 2020

Jun 25, 2020

25^th June, 2020

To, BSE Limited Corporate Relations Department, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001.

Ref: Security Code No. 511644

Security ID: OMEGAIN

Sub: Outcome of Board Meeting held on 25th June, 2020

Dear Sir/Madam,

Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we wish to inform you that the Board of Directors of the Company at its meeting held on 25^th June, 2020 inter-alia, considered the following businesses among others:

1. Approved the Audited Financial Results of the Company along with the Statement of Assets and Liabilities for the Quarter and Year ended on 31^st March, 2020.

Pursuant to the provisions of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the following:

• a) Audited Financial Results for the Quarter and Year ended 31st March, 2020 along with the Statement of Assets and Liabilities as at 31^st March, 2020 and Statement of Cash Flows for the year ended on that date of the Company as on that date.
• b) Auditors Report on the Financial Results for the Quarter and Year ended 31st March, 2020.

Declaration for Unmodified Opinion on Auditors Report. $\mathcal{C}$

402, 4th Floor, Vaastu Darshan, 'B' Wing, Azad Road, Andheri (E), Mumbai - 400 069. Tel. : 61919200, E-mail : omegainteractive.technologies@gmail.com

The meeting of the Board of Directors commenced at 5:00 P.M. and concluded at 6:10 P.M.

Kindly make a note of the same and acknowledge.

Thanking you,

Yours faithfully,

For Omega Interactive Technologies Limited

S. Misquitta

Shonette Misquitta Company Secretary and Compliance Officer M. No.: A57825

Encl: as above

402, 4th Floor, Vaastu Darshan, 'B' Wing, Azad Road, Andheri (E), Mumbai - 400 069. Tel.: 61919200, E-mail: omegainteractive.technologies@gmail.com

Statement of Audited Financial Results for the Quarter and Year Ended 31st March, 2020

		(Amounts in INR)
Sr. No.	Particulars	Quarter Ended			Year Ended
		31/03/2020	31/12/2019	31/03/2019	31/03/2020	31/03/2019
		(Audited)	(Un • audited)	(Audited)	(Audited)	(Audited)
1	Income
	a) Revenue from operations	12,50,000	-	-	16,50,000	-
	b) Other Income	1,38,717	1,51,967	1,65,120	6,17,828	6,56,73(
	Total Income (a+b)	13,88,717	1,51,967	1,65,120	22,67,828	6,56,73C
2	Expenses
	a) Employee benefits expense	3,09,664	3,26,700	80,987	12,46,160	1,85,845
	b) Other expenses	1,76,669	6,52,843	34,663	9,23,173	1,94,10<
	Total Expenses (a+b+c+d+e+f+g)	4,86,333	9,79,543	1,15,650	21,69,333	3,79,95(
3	Profit/ (Loss) Before Tax (1·2)	9,02,384	(8,27,576)	49,470	98,495	2,76,78C
4	Tax expense
	(i) Current Tax	24,800	-	17,000	24,800	72,00C
			(30)	255	(30)	255
	(ii) Excess provision for Tax of earlier periods w ritten back
	Total Tax Expense (i+ii+iii)	24,800	(30)	17,255	24,770	72,255
5	Profit / (Loss) for the period (3-4)	8,77,584	(8,27,546)	32,215	73,725	2,04,52<
6	Other Comprehensive Income
	(i) Items that will not be reclassified to statement of Profit	-		-	-	-
	and Loss
	(ii) Income tax relating to items that will not be reclassified tc	-	-	-	-	-
	statement of Profit and loss
	(iii) Items that will be reclassified to statement of profit and	-	-	-	-
	loss
	(iv) Income tax relating to items that will be reclassified to	-	-	-	-	-
	statement of Profit and loss
7	Total Other comprehensive income (net of tax) (i+ii+iii+iv)	-	-	-	-	-
	Total Comprehensive income for the period (5+7)
8	(comprising income for the period)	8,77,584	(8,27,546)	32,215	73,725	2,04,52<
9	Paid-up Equity Share Capital -Face Value of Rs. 10/-each	50,00,000	50,00,000	50,00,000	50,00,000	50,00,00C
10	Reserves Excluding Revaluation Reserve as per balance sheet	-	-	-	29,08,898	28,35,173
	of previous accounting year
11	Basic and Diluted Earning Per Share (EPS) (Rs.)	1.76	(1.66)	0.06	0.15	0.4]
	Notes:
1	The above audited financial results for the quarter and year ended 31st March, 2020 have been reviewed by the Audit Committee and subsequently approved by
	the Board of Directors in their respective meeting held on 25th June, 2020. The statutory auditors have expressed an unqualified opinion.
	The company is engaged in the business of software services including development of softwares and therefore there is only one reportable operating segment.
2
	Hence, disclosures required by Indian Accounting Standard - 108 'Operating Segment' are not applicable to the company.
3	The Audited financia l results are in accordance w ith the Indian Accounting Standards (ind AS) as prescribed under Section 133 of the Companies Act, 2013, read with rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) (Amendment Rules), 2016
4	There has been no significant impact on the operations and financial position of the Company on account of the outbreak of t he COVID-19 pandemic and the
	consequential lock-down restrictions imposed by the Government.
5
	Figures for the quarter ended 31st March, 2020 and corresponding quarter ended in the previous year as reported in these financial results are the balancing figures in respect of full financial year and year to date figure upto end of third quarter of the relevant financial year. Also the figures upto t he end of third qua rte
	of the relevant financial year had only been reviewed and not subject to Audit.
6	The figures of previous period/ year have been regrouped/ rearranged wherever necessary / practicable to confirm to current period/ year presentation.

For Omega Interactive Technologies Limited

~ -

Krishan Kumar Rath! Managing Director

Date DIN: 00156061 : 25th June, 2020

Place: Mumbai

402, 4th Floor, Vaastu Darshan, 'B' Wing, Azad Road, Andheri (E), Mumbai - 400 069. Tel. : 61919200, E-mail : omegainteractive.technologies@gmail.com

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31st MARCH, 2020

		(Amounts In INR)
Particulars	2019-20	2018-19
CASH FLOWS FROM OPERATING ACTIVITIES:
Profit/(Loss) before Income tax from:	98,495	276,780
Adlustments for:
Interest income classified as investing cash flows	(617,828)	(652,500)
Change in operating assets and liabilities:
(Increase)/ Decrease in other assets		4,425
(Increase)/ Decrease in financial assets	(24,500)
Increase/ (Decrease) In other financial liabilities	(315,858)	81,901
Increase/ (Decrease) in other liabilities	(49,175)	72,000
Cash generated from operations	(908,866)	(217,394)
Less: Income taxes paid	(161,503)	(52,650)
Net cash Inflow from operating activities	(1,070,369)	(270,044)
CASH FLOWS FROM INVESTING ACTIVITIES:
Loans to others	1,000,000
Interest received	649,033	580,710
Net cash outflow from Investing activities	1,649,033	580,710
Net increase (decrease) in cash and cash equivalents	578,664	310,666
Cash and Cash Eouivalents at the beginning of the financial vear	363,701	53,035
Cash and Cash Equivalents at end of the year	942,365	363,701
Reconciliation of cash and cash equivalents as per the cash flow statement:
Cash and cash equivalents as per above comprise of t he following:
Cash and cash equivalents	187,316	2,145
Balances with banks on current accounts	755,049	361,556
Balance per statement of cash flows	942,365	363,701
Note:

Place: Mumbai Date: 25th June, 2020 For Omega Interactive Technologies Limited

Krlshan Kumar Rathl Managing Director DIN: 00156061

Statement of Assets and Liabilities as at 31st March, 2020

	(Amounts In INR)
	Particulars		(Aue ,tedl
Sr. No.		As at	As at March 31, 2019
		March 31, 2020
	ASSETS
1	Non - Current Assets
	(a) Financial Assets
	(i) loans	6,250,000	7,250,000
	(b) Other non current assets	201,983	65,250
2	Current Assets
	(a) Financial Assets
	(i) Cash and Cash Equivalents	942,365	363,701
	(ii) Loans	24,500	-
	(iii) Other Financial Assets	556,045	587,250
	Total Assets	7,974,893	8,266,201
	Equity and Liabilities
1	Equity
	(a) Equity Share Capital	5,000,000	5,000,000
	(b) Other Equity	2,908,898	2,835,173
2	Liabilities
	(I) Current Liabilities
	(a) Financial Liabilities
	(i) Other Financial Liabilities	25,670	341,528
	(b) Other Current Liabilities	40,325	89,500
	Total Equity and Liabilities	7,974,893	8,266,201

For Omega Interactive Technologies Limited

Krishan Kumar Rathl M anaging Director DIN: 00156061

~ -

Place: Mumbai Date: 25th June, 2020

Laxmi Building 1st Floor Sir P.M. Road, Fort Mumbai- 400001

Tel : 66261600 Fax :66261617 Email: contact@dsaca.co.in

Website: www.dsaca.co.in

Independent Auditor's Report on Quarterly Financial Results and Audited Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended

TO THE BOARD OF DIRECTORS OF OMEGA INTERACTIVE TECHNOLOGIES LIMITED

Report on the audit of the Financial Results

Opinion

We have audited the accompanying quarterly financial results of OMEGA INTERACTIVE TECHNOLOGIES LIMITED (the "Company") for the quarter ended March 31, 2020 and for the year ended March 31, 2020, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us these financial results:

• i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
• ii. give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter ended March 31, 2020 as well as for the year ended March 31, 2020.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Emphasis of Matter

We draw attention to Note 4 to the Financial Results of the Company, wherein financial impact of COVID-19 on the operations of t he Company has been disclosed. Further, the extent to which the

COVID -19 pandemic will impact the Company's financial performance is dependent on future developments, which are highly uncertain.

Our opinion is not modified in respect of this matter.

Management's Responsibilities for the Financial Results

The year ended financial results have been prepared on the basis of the audited annual financial statements.

The Company's Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the financial results, the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Results

Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misst atement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstat ement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matter

The statement includes the results for the quarter ended March 31, 2020 being the balancing figures between the audited figures in respect of the full financial year ended March 31, 2020 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to limited review by us, as required under the Listing Regulations.

Our opinion is not modified in respect of this matter.

For Desai Saksena & Associates Chartered Accountants FRN: 102358W SHASHANK Digitally signed by SHASH ANK NARENDRA DESAI N AREND RA DES Al Date,2020.06.25 13 39 59 +05'30' Dr. S.N. Desai Partner

Membership No.: 032546 UDIN :20032546AAAAAV6996

Place: Mumbai Date : 25th June 2020 25th June, 2020

To, BSE Llnuted Corporate Relati.011.S Department, Pluroze Jeejeebl,oy To, .. ·ers, Dalal Street. Mumbai - 400 001.

Re£: Security Code No. 511644 Security ID: OMEGAJN

Sub: Declaration pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir / Madam,

Pursuant to the provisions of Regulation 33(3)(d ) of the SEBI (Listing Obligations and Disclosure Requirements) Regula tions, 2015 as amended by SEBI Notification No. SEBI/ LAD-NRO/ GN/ 2016-17 / 001 dated 25th May, 2016 and SEBI Circular No. Cll</ CFD/ CMD/ 56/ 2016 dated 27th May, 2016 we hereby confirm that the Audit Report issued by M/ s. Desai Saksen a & Associates, Chartered Accountants, (FRN: 102358W), Mumbaj on the Audited Financial Results of the Company for the quarter and year ended 315t March, 2020 is witl1 Unmod ified Opinion.

Kindly make a note of the same and acknowled ge.

Thanking you,

Yours faithfully,

For Omega Interactive Technologies Limited

Shonette Misq ui tta Company Secretary and Compliance Officer M. No.: A57825