FOR THE FINANCIAL YEAR ENDED MARCH 31, 2024

To. The Members.

Ace Alpha Tech Private Limited. (formerly known as DM Prime Square Research & Analytics Private Limited)

Your Directors have pleasure in presenting the 12"'Annual Report together with the Audited Statement of Accounts of your Company for the Year ended March 31,2024.

FINANCIAL SUMMARY:

The key financial figures of your Company for the financial year ended March 31, 2024 are as follows:

(Amount In Rs.)

STATE OF AFFAIRS:

The Financial Year 2022-23 was a year of robust performance by the Company. During the financial year 2023-24. the total revenue was Rs. 15,35,38,445/-( Rupees Fifteen Crore Thirty-Five Lakh Thirty-Eight Thousand Four Hundred and Forty-Five Only) as compared to a total revenue of Rs. 4.94,02,180/- (Rupees Four Crore Ninety-Four Lakh Two Thousand One Hundred and Eighty Only) in the Financial Year 2022-23.

Also, the net profit of the Company was Rs. 10,30,64,244/- (Rupees Ten Crore Thirty Lakh Sixty- Four Thousand Two Hundred and Forty-Four Only) in the financial year 2023-24 as compared to a net profit of Rs. 3,27,77,500/- (Rupees Three Crore Twenty-Seven Lakh Seventy-Seven Thousand Five Hundred Only) in the financial year 2022-23.

TRANSFER TO RESERVES:

During the year under review, no transfer was made to any Reserve whatsoever.

DIVIDEND:

With a view to preserve the financial resources for the future operations of the Company, your Directors consider it prudent not to declare any dividend for the financial Year 2023-2024.

DEPOSITS:

The Company has not accepted any deposits fromits members or public and no amount on account of principal or interest on such deposits was outstanding as on the date of the balance sheet.

SHARE CAPITAL:

During the year under review, the follow ing changes were made in the share capital of the Company. The Capital Structure as on March 31,2024changed as under:-

The Authorised share capital of the Company was increased from Rs. 1.00,000/- comprising of 10,000 Equity Shares of Rs. 10/- each to Rs. 21,00,00,000/- comprising of 2,10.00,000 Equity Shares of Rs.10/- each.

The Issued, Subscribed and Paid up Share Capital of your Company, as on financial year end was increased from Rs. 1.00,000/- comprising of 10,000 Equity Shares of Rs. 10/- each to Rs. 1,08,020/- comprising of 10.802 Equity Shares of Rs. 10/- each.

AS ON DATE:

Authorised Share Capital:Rs. 21,00,00,000/- comprising of 2,10.00.000 Equity Shares of Rs.10/-

each.

Issued, Subscribed and Paid up Share Capital: Rs. 14,01,01,940/- comprising of 1,40,10,194 Equity Shares of Rs.10/- each.

DETAILS OF HOLDING COMPANY

During the year under review, Arika Securities Private Limited having CIN: U65990GJ2021 PTC 122955 has become our Holding Companyas per the provisions of the Companies Act, 2013.

REPORTS AND FINANCIAL PERFORMANCE OF SUBSIDIARIES. ASSOCIATE COMPANIES AND JOINT VENTURE COMPANIES:

Your Company has no Subsidiary, Associate Company as per the provisions of the Companies Act, 2013. Further your Company has not entered in to any Joint Ventures.

DETAILS OF ALL MEETINGS - BOARD MEETINGS. ITS COMMITTEES MEETING AND MEMBERS MEETING Dl'RING THE YEAR:

• GENERAL MEETINGS

Annual General Meeting for the financial year 2022-2023 was held on September 08. 2023 and during the financial year 2023-2024. three (03) Extraordinary' General Meeting were held on April 17, 2023, October 14, 2023 and March 13, 2024respectively

• BOARD MEETINGS

During the financial year ended on March 31, 2024, 12 (Twelve) Board Meetings were held on May 16. 2023. July 07, 2023, August 07, 2023, August 14, 2023, September 19, 2023, October 16, 2023, December 29. 2023. January 15, 2024, February 09, 2024, March 07, 2024. March 28, 2024 and March 30. 2024 respectively.

We are pleased to provide the details of attendance of all the Directors at the Board Meetings as under:

The names of members of the Board, their attendance at the Board Meetings are as under:

• COMMITTEE MEETINGS

During the financial year 2023-2024 under review, the Company is not required to form any committee in pursuance to Companies Act, 2013 and rules made thereunder.

CHANGES IN DIRECTORSAND KEY MANAGERIAL PERSONNEL:

During the financial year 2023-2024, there were following changes made in the Board/Management:

As on March 31, 2024, Mr. Gaurav Sharma, Ms. Nipa Gunvantlal Jain, Ms. Chandni Sharmaare the Directors of the Company.

After the closure of financial year 2023-2024, the following changes were made in the Board/Management:

DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the Company confirms that:-

a) In the preparation of the annual accounts for the year ended March 31, 2024 the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) The Directors have selected such accounting policies and applied them consistently apd 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 as at March 31, 2024 and of the profit of the Company for the year ended on that date;

c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) The Directors have prepared the annual accounts on a 'going concern' basis; and

e) 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.

STATUTORY AUDITORS:

In the financial year 2021-2022, the Statutory Auditor M/s. Lalit Agarwal & Co., CharteredAccountants, (Firm Registration No. 08995N) was re-appointed as Statutory Auditor of the Company, to hold office for a term of 5 yearsfrom the conclusion of 09"'Annual General Meeting till the conclusion of l4^lhAnnual General Meeting tobe held in the year 2026.

FRAUD REPORTING BY AUDITORS:

During the year under review, the Statutory Auditors had not reported any instance of fraud committed in the Company by its officers or employees to the Board of Directors, details of which are required to be furnished in this report.

BOARD'S COMMENT ON THF, AUDITORS' REPORT:

The observations of the Statutory Auditors, when read together with the relevant notes to the accounts and accounting policies are self explanatory and do not calls for any further comment.

COST AUDITOR AND DISCLOSURES ON MAINTENANCE OF COST RECORDS UNDER SUB-SECTION Of OF SECTION 148 OF THE COMPANIES ACT, 2013.

The Company does not fall within the purview of Section 148 of the Companies Act, 2013 and hence, it is not required to appoint a cost auditor for the financial year 2023-2024 and is not required to maintain any cost records and accordingly such accounts and records are not made and maintained by the Company.

PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS:

The particulars of loans given, investments made, guarantees given and securities provided (if any) along with the purpose for which the loan or guarantee or security is proposed to be utilised as per the provisions of Section 186 of the Act are provided in the financial statements. (Please refer to Notes to the financial statements).

CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES:

No contract has been entered into by the Company during the financial year ended March 31, 2024 with the related parties as referred to in section 188 of the Companies Act, 2013. Therefore, the provisions of Section 188 of the Companies Act, 2013 were not attracted. Thus disclosure in Form- AOC-2 is not required.

CORPORATE SOCIAL RESPONSIBILITY (CSR):

Provisions of section 135 read with Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014of Corporate Social Responsibility initiative is not applicable on the Company. Flence, the Company has not developed and implemented any Corporate Social Responsibility Policy.

However, the Company has generated a net profit of Rs. 10,30,64,244/- during the financial year ended 31^s1 March, 2024 therefore the provisions of CSR would be applicable on the Company from the financial year 2024-25 onwards.

RISK MANAGEMENT POLICY:

The Company does not have any Risk Management Policy as the elements of risk threatening Company's existence are very minimal.

PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE :"POSH"l:

The Company is committed to provide a safe and conducive work environment to its employees.

Your Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention. Prohibition and Redressal) Act, 2013.

COMPLIANCE WITH SECRETARIAL STANDARD:

The Directors have devised proper systems to ensure compliance with the provisions of all applicable Secretarial Standards and that such systems are adequate and operating effectively.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR CpiJRTS OR TRIBUNALS IMPACTING THE GOING CONCERN STATUS AND COMPANY'S OPERATIONS IN FUTURE:

There was no such order passed by Regulators or Courts or Tribunals which may impact on the going concern status and company's operations in future.

DETAILS OF APPLICATION MADE FOR OR PROCEEDING PENDING yNDER 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 the Insolvency and Bankruptcy Code 2016.

DETAILS OF DIFFERENCE BETWEEN VALUATION AMOUNT ON ONE TIME SETTLEMENT AND VALUATION WHILE AVAILING LOAN FROM BANKS AND FINANCIAL INSTITUTION:

During the year under review, there has been no one-time settlement of loans taken from bqnks and financial institution.

CONSERVATION OF ENERGY. TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

The information pursuant to Section 134(3)(m) of the Companies Act, 2013 read with Companies (Accounts) Rules. 2014 is as follows:

a) The Company's existing activities are not covered under the category of power intensive industry and hence consumption of power is not at all significant. However, the management is aware of importance of conservation of energy and w herever possible has taken suitable measures to reduce consumption of energy.

b) In the area of technology up gradation, the Company has continuous access to latest state of the art technology in respective equipment, tools and high tech computers for use in company's specialized operation.

c) There are no foreign exchange earnings and outgo during the year.

OTHF-RS:

During the year under review following changes are made:

The registered office address of the company was shifted from "5, First Floor, Todarmal Lane. Bengali Market, New Delhi - 110001" to "A-28. First Floor, Jhilmil Industrial Area, Shahdara, East Delhi - 110095" w ith effect from 12^ll'February, 2024.

Shareholders at their meeting held on 13^lhMarch, 2024 had approved the change of name of the company from "DM Prime Square Research & Analytics Private Limited" to "Ace Alpha Tech Private Limited". The Registrar of Companies approved the same on 17^th May, 2024.r There have been no other material changes and commitments except mentioned in the report, which affect the financial position of the company which have occurred between the end of the financial year to which the financial statements relate and the date of this Report.

The Company doesn't have any operative website. Therefore, no need to of publication of Annual Return.

ACKNOWLEDGMENT:

Your Directors would like to express their sincere appreciation for the assistance and co-operation received from the banks, Government authorities, customers, vendors and members during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the committed services by the Company's executives, staff and workers.