To,
The Members,
Your Directors have pleasure in presenting the Thirty Fifth (35th)
Annual Report on the business and operations of the Company, along with the audited
financial statements for the financial year ended March 31, 2025. The Consolidated
performance of the Company and its subsidiaries has been referred to, wherever required.
1. FINANCIAL RESULTS
|
Standalone |
Consolidated |
| Particulars |
2024-25 |
2023-24 |
2024-25 |
2023-24 |
| Total income |
41,210.99 |
35,786.27 |
1,05,157.27 |
96,505.78 |
| Total expenditure (before interest & depreciation) |
33,100.52 |
29,552.42 |
88,827.88 |
82,187.46 |
| Earnings before interest, depreciation, amortization and |
6,697.53 |
5,750.02 |
14,244.49 |
13,035.27 |
| extra-ordinary items |
|
|
|
|
| Interest & finance charges |
3,080.46 |
5,408.60 |
3,229.70 |
5,636.79 |
| Depreciation & amortization |
1,760.20 |
1,442.16 |
3,959.88 |
3,379.12 |
| Earnings/before Tax and Exceptional Items |
3,269.81 |
(616.91) |
9,139.81 |
5,302.41 |
| Share in net profit/(Loss) of associate |
- |
- |
(2.37) |
(0.30) |
| Exceptional item |
(152.29) |
- |
(385.87) |
- |
| Profit/(Loss) before Tax (PBT) |
3,117.52 |
(616.91) |
8,751.57 |
5,302.11 |
| Provision for Tax – Current & Deferred |
(941.89) |
(220.10) |
1,223.17 |
1,961.17 |
| Net Profit/(Loss) after Tax (PAT) |
4,059.41 |
(396.81) |
7,528.40 |
3,340.94 |
| Minority Interest |
- |
- |
34.72 |
60.16 |
| Profit/(loss) for the period |
4,059.41 |
(396.81) |
7,493.68 |
3,280.78 |
| EPS: |
|
|
|
|
| Basic |
9.62 |
(1.02) |
17.76 |
8.40 |
| Diluted |
9.33 |
(1.02) |
17.22 |
7.74 |
STATE OF AFFAIRS / PERFORMANCE REVIEW
During the fiscal year, our consolidated revenue from operations
increased by 7.9% year-over-year (YoY), reaching Rs.1,031 crore. This growth was primarily
driven by robust performance in our core domains of Aerospace and Defence. Revenues from
the Core Domain grew by 12% YoY, underpinned by a 16% YoY increase in the Defence vertical
and a 13% YoY expansion in Aerospace. These results reflect the continued strategic focus,
execution strength, and resilience of our core business segments.
Conversely, our Non-Core Domain experienced a 3% YoY decline, largely
attributable to prevailing macroeconomic headwinds in the automotive sector and evolving
customer priorities in Heavy Engineering. However, this was partially offset by positive
momentum in the Energy segment. Looking ahead, we remain confident in the growth
trajectory of our core verticals, backed by a strong operational foundation and focused
investments. Simultaneously, we are undertaking a strategic realignment of our non-core
businesses, with an emphasis on enhancing their long-term sustainability, competitiveness,
and profitability.
FINANCIAL HIGHLIGHTS – STANDALONE
Total Income increased by 15.16 % in FY 2024-25 to
Rs.41,210.99 lakhs. EBIDTA increased by 16.48% to Rs.6,697.53 lakhs and
Profit before tax and exceptional items is Rs.3,269.81 lakhs in FY 2024-25. Net profit
after tax stood at Rs.4,059.41 lakhs in FY 2024-25.
FINANCIAL HIGHLIGHTS – CONSOLIDATED
Total Income increased by 8.96 % to Rs.1,05,157.27 lakhs in FY
2024-25. EBIDTA increased by 6.90 % to Rs.14,244.49 lakhs in FY 2024-25. Profit before tax
and exceptional items increased from Rs.5,302.41 lakhs to Rs.9,139.81 lakhs in FY 2024-25.
Net Profit after tax, before minority interest, increased by 125.34 % to Rs.7,528.40 lakhs
in FY 2024-25.
RESERVES
The Company has not transferred any amount to its general reserves for
the Financial Year ended March 31, 2025.
DIVIDEND
Considering need for conservation of funds for catering to the growth
plans of the Company, your Directors consider it expedient to pass over dividend for FY
2024-25.
In terms of Regulation 43A of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 the Board has formulated and adopted the
Dividend Distribution Policy. The Policy is available on our website at
https://axiscades.com/ download/dividend-distribution-policy?wpdmdl=4152&refresh
=680b66bf28b291745577663
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
The particulars of loans, guarantees and investments covered under
Section 186 of the Companies Act, 2013 form part of the Notes to the financial statements
provided in the Annual Report and furnished as Annexure-I to this Report.
PUBLIC DEPOSITS
The Company has not accepted/renewed any public deposits and as such no
amount on account of principal or interest on public deposits under Section 73 of the
Companies Act, 2013, read with Companies (Acceptance of Deposits) Rules, 2014 was
outstanding as on the date of the Balance Sheet.
ISSUE AND LISTING OF SHARES
The Company?s shares are listed on BSE Limited (BSE) and National
Stock Exchange of India Limited (NSE). Stock performance and stock data of the Company are
furnished in the section on Corporate Governance.
During the financial year 2024-25, the Company has allotted equity
shares as below:
• 186,941 equity shares under ESOP Plan which were listed on NSE
and BSE vide letters - NSE/LIST/2024/43988 and LOD / ESOP / TP / No. 244/ 2024-2025 respectively.
• 100,500 equity shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2024/44235 and LOD / ESOP / TP / No. 431/ 2024-2025 respectively.
• 3,500 equity shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2024/44827 and LOD / ESOP / TP / No. 342/ 2024-2025 respectively.
• 116,205 equity Shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2024/45224 and LOD / ESOP / TP / No. 183/ 2024-2025 respectively.
• 89,511 equity Shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2024/45647 and LOD / ESOP / TP / No. 128/ 2024-2025.
• 50,692 equity Shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2025/47396 and LOD / ESOP / TP / No. 24/ 2024-2025 respectively.
• 2,100 equity Shares under ESOP Plan listed on NSE and BSE vide
letters - NSE/LIST/2025/47748 and LOD / ESOP / TP / No. 286/ 2024-2025 respectively.
DEBENTURES
During the financial year 2024-25, the Company has raised an amount of
INR 50 crores by way of issuance of Unlisted, Unrated, Secured, Redeemable,
Non-Convertible Debentures on a Private Placement basis.
The total value of the outstanding debentures as on 31st March 2025
stands at INR 102.50 crores.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES
The particulars of contracts or arrangements with related parties
referred to in Section 188(1) of the Companies Act 2013 are furnished in the prescribed
form AOC-2 as Annexure I to this Report. All transactions with the related parties
during the financial year were in the ordinary course of business. The transactions have
been approved by the Audit Committee, the Board and the Shareholders, wherever required.
Your attention is drawn to the Notes to the financial statements, in this respect. During
the year, the Company has obtained shareholders? approval for material related party
transactions in accordance with Regulation 23 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
The Policy on materiality and dealing with related party transactions
formulated and approved by the Board is posted on the website of the Company and is
accessible at www. axiscades.com.
MATERIAL CHANGES AND COMMITMENTS
There were no material changes and commitments affecting the financial
position of the Company, which occurred between the financial year end and the date of
this report.
MANAGEMENT DISCUSSION AND ANALYSIS
In terms of the provisions of Regulation 34 of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation 2015,
a detailed chapter on Management discussion and analysis highlighting the Company?s
strategy, business environment, operations, performance, risks and outlook is provided
separately in this Annual Report.
BUSINESS STRUCTURE SUBSIDIARIES
The Company has the following subsidiaries:
Overseas Subsidiaries
| Sl. No Name of the subsidiary |
Location/Country |
%age Shareholding |
| 1. AXISCADES, Inc. |
Peoria, Illinois USA |
100% |
| 2. AXISCADES UK Ltd. |
Leicestershire, UK |
100% shares held by AXISCADES Inc. |
| 3. AXISCADES Technology Canada Inc. |
Montreal, Quebec, Canada |
100% |
| 4. Axis Mechanical Engineering Design (Wuxi) Co Ltd. |
Wuxi City, China |
100% |
| 5. AXISCADES GmbH |
Germany |
100% |
| 6. Mistral Solutions Inc. |
USA |
100% shares held by Mistral Solutions Private Limited |
| 7. add solution GmbH |
Germany |
100% shares held by AXISCADES GmbH |
Indian Subsidiaries
| Sl. No Name of the subsidiary |
Location/Country |
%age Shareholding |
| 1. Cades Studec Technologies (India) Private Limited (CSTI) |
Bengaluru, India |
76% |
| 2. AXISCADES Aerospace & Technologies Private Limited
(ACAT) |
Bengaluru, India |
100% |
| 3. AXISCADES Aerospace Infrastructure Private Limited (AAIPL) |
Bengaluru, India |
100% shares are held by ACAT |
| 4. Enertec Controls Limited (ECL) |
Bengaluru, India |
51.84% shares are held by ACAT and 48.16% shares are held by
AAIPL |
| 5. Mistral Solutions Private Limited (MSPL) |
Bengaluru, India |
58.68% shares are held by the Company and 41.28% shares are
held by Explosoft |
| 6. Aero Electronics Private Limited (AEPL) |
Bengaluru, India |
51% shares held by MSPL |
| 7. Mistral Technologies Private Limited (MTPL) |
Bengaluru, India |
100% shares held by MSPL |
| 8. Explosoft Tech Solutions Private Limited (Explosoft) |
Bengaluru, India |
100% |
| 9. Epcogen Private Limited (Epcogen) |
Bengaluru, India |
100% |
A report on the performance and financial position of each of the
subsidiaries as per rule 8(1) of Companies (Accounts) Rules 2014 is furnished under the
statement containing salient features of financial statements of subsidiaries in Form
AOC-1 is attached to this Report as Annexure II, pursuant to Section 129(3) of
Companies Act, 2013.
In accordance with the provisions of Section 136 of the Companies Act,
2013, the audited financial statements of subsidiaries have been placed on the
Company?s website at www.axiscades.com. The copies of these documents will be sent if
requested by any shareholder of the Company/ subsidiary interested in obtaining the same.
These documents will also be made available for inspection at the Registered Office of the
Company during business hours on working days.
CONSOLIDATED FINANCIAL STATEMENTS
Pursuant to the provisions of Section 129(3) of Companies Act, 2013.
read with Indian Accounting Standards (IND AS) 21, 23 and 27, the audited Consolidated
Financial Statements are furnished in the Annual Report.
2. ORGANIZATION DEVELOPMENT
BOARD OF DIRECTORS
Induction and cessation of Directors and KMPs during the year:
| Sl No Name of the Directors/KMPs |
Category |
Appointment / reappointment / Cessation |
Date |
| 1 Mr. Tanmoy Chakrabarty |
Non-Executive, Independent |
Appointment |
13-07-2024 |
| 2 Mr. Venkatraman Venkitachalam |
Non-Executive, Non-Independent |
Retirement by rotation |
18-09-2024 |
| 3 Mr. David Abikzir |
Non-Executive, Non-Independent |
Retirement by rotation |
18-09-2024 |
| 4 Mr. Desh Raj Dogra |
Non-Executive, Independent |
Completion of Tenure |
18-09-2024 |
| 5 Mr. Dhiraj Mathur |
Non-Executive, Independent |
Completion of Tenure |
18-09-2024 |
| 6 Lt. Gen. Codanda Poovaiah Cariappa |
Non-Executive, Independent |
Appointment |
19-09-2024 |
| 7 Mr. Rajendra Moholkar |
Non-Executive, Independent |
Appointment |
19-09-2024 |
| 8 Dr. Sampath Ravinarayanan |
Non-Executive, Non-Independent |
Appointment |
12-10-2024 |
| 9 Dr. S. Christopher |
Non-Executive, Non-Independent |
Cessation |
05-12-2024 |
| 10 Mr. Arun Krishnamurthi |
Chief Executive Officer and Managing Director |
Cessation |
02-01-2025 |
| 11 Mr. Alfonso Martinez Fernandez |
Chief Executive Officer and Managing Director |
Appointment |
20-01-2025 |
| 12 Mr. Abidali Neemuchwala |
Non-Executive, Non-Independent Chairman |
Cessation |
25-01-2025 |
| 13 Mr. Rajendra Moholkar |
Non-Executive, Independent |
Cessation |
27-01-2025 |
| 14 Dr. Sampath Ravinarayanan |
Non-Executive, Non-Independent Chairman |
Change in designation |
28-01-2025 |
HUMAN RESOURCES DEVELOPMENT
In our constant quest to be a customer focused, performance driven and
future ready organization, the Company is committed to build an environment, where
employees are inspired to deliver and achieve excellence. The Human Resource Policy of the
Company is focused on attracting, building and retaining the best talent. Towards this,
the Company continues to explore and implement best practices in Hire to Retire Cycle, the
Company?s particular focus is on training and development of its Employees, to
develop their skills, grow in their career and be future ready. Needless to say, the
Company is committed to provide a safe and healthy work environment to all its employees.
The Company has 2,891 employees on a consolidated basis as of March 31, 2025.
EMPLOYEE BENEFIT SCHEME
The Company has ESOP Scheme - AXISCADES ESOP 2018- Series 1 and
AXISCADES ESOP 2018- Series 2 which are in compliance with SEBI (Share Based Employee
Benefits and Sweat Equity) Regulations, 2021 and are effective from April 1, 2018. Further
the pool of ESOPs was increased by 26,43,167 by way of variation in the terms of existing
ESOP schemes series (clause 14.1 & 14.3), which became effective on receiving
shareholders? approval in the Annual General Meeting held on September 28, 2021. The
applicable disclosures in compliance with Regulation 14 of SEBI (Share Based Employee
Benefits and Sweat Equity) Regulations, 2021 and Rule 12 of companies (Share Capital and
Debentures) Rules, 2014 are set out and enclosed as
Annexure III and the Report of Independent Auditor on AXISCADES
ESOP 2018- SERIES 1 & 2 is enclosed as Annexure IV to this Report.
PARTICULARS OF EMPLOYEES
The information required pursuant to Section 197(12) of the Companies
Act, 2013 read with Rule 5(1) of The Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 is provided as Annexure V to this Report.
Details of employee remuneration as required under the provisions of
Section 197 of the Act and Rule 5(2) & 5(3) of Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 is provided in a separate statement and forms part of
the Annual Report. Further, this Report is being sent to the Members excluding the said
statement. In terms of Section 136 of the Act, the said statement will be open for
inspection and any Member interested in obtaining a copy of the same may write to the
secretary@axiscades.com.
3. CORPORATE GOVERNANCE
The report on Corporate Governance as required under Schedule V of the
SEBI (LODR) Regulations 2015 is attached and forms part of the Annual Report. A
Certificate from the Auditors of the Company on compliance of conditions of corporate
governance is also appended to the report.
MEETINGS OF THE BOARD
The Board of Directors met 10 (ten) times during the financial year.
The dates, attendance and other particulars of the meetings are furnished in the Report on
Corporate Governance attached to this Report. The intervening gap between any two meetings
was within the limit prescribed by the provisions of Companies Act, 2013.
COMMITTEES OF THE BOARD
The Audit Committee was re-constituted during the year, and it
presently consists of 3 members, namely – Lt. Gen. Codanda Poovaiah Cariappa, Mr.
Tanmoy Chakrabarty, Independent Directors and Mr. Venkatraman Venkitachalam, Non-Executive
Director. The Chairman of the Audit Committee is an Independent Director.
All the recommendations made by the Audit Committee during the year
have been accepted by the Board. TheCompanyhasalsoconstitutedNominationandRemuneration
Committee, Stakeholders Relationship Committee and Risk Management Committee as required
under the provisions of Companies Act, 2013 and also as required under SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 and the composition, scope of
their functions, responsibilities etc. are given in the Corporate Governance Section,
which forms part of this Report.
DECLARATION FROM INDEPENDENT DIRECTORS
The Company has received declarations from all Independent Directors
under Section 149(7) of the Companies Act, 2013 (read together with Companies Amendment
Act, 2017, to the effect that they meet the criteria of independence as laid down in
Section 149(6) of the Companies Act, 2013 read together with any amendment thereto and
that their names have been included in the databank of Independent Directors and are
compliant with the prescribed regulations. The terms and conditions of appointment of
Independent Directors are placed on the website of the Company at www.axiscades.com.
PERFORMANCE EVALUATION OF THE BOARD, COMMITTEES AND DIRECTORS
The Board of Directors have carried out an annual evaluation of its own
performance, Board Committees and individual directors pursuant to the provisions of the
Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The performance of the Board and
its Committees were evaluated by the Board / Committee after seeking inputs from all the
directors/ members on the basis of the criteria and framework adopted by the Board. The
evaluation process has been explained in the Corporate Governance Report section of the
Annual Report.
VIGIL MECHANISM
The Vigil Mechanism of the Company which also incorporates the Whistle
blower policy provides a formal mechanism to all Directors and employees to approach the
Chairman of the Audit Committee and make protective disclosures about unethical behavior,
actual or suspected fraud or violation of the Company?s Code of Conduct or ethics
policy. The Whistle blower policy is an extension of the Company Code of Conduct, which
requires every employee to promptly report to the Management any actual or possible
violation of the Code or an event he is aware of, that could affect the business or
reputation of the Company. The disclosures reported are addressed in the manner and within
the time frames prescribed in the Policy. No personnel of the Company were denied access
to the Chairman of the Audit Committee. The Whistle blower policy which also describes the
mechanism may be accessed on the Company?s website at www.axiscades.com.
POLICY ON DIRECTOR?S APPOINTMENT AND REMUNERATION
The Company?s policy on Directors? appointment and
remuneration including criteria for determining qualifications, positive attributes,
independence of a director and the policy on remuneration of directors, key managerial
personnel and other employees formulated pursuant to Section 134(3)(e) and 178(3) of the
Companies Act, 2013 are furnished in Annexure VII to this Report.
RISK MANAGEMENT POLICY
The Company has formulated and implemented a Risk Management Policy
which focuses on the identification of various elements of risks, if any, which in the
opinion of the Board, may threaten the existence of the Company. The Company has a risk
identification and management framework appropriate to its size and the environment under
which it operates. The risk management process involves identification and periodic
assessment of potential risks and their impact on the operations, profitability, growth
and continuity of the business and focuses on risk elements pertaining to competitive
position in the key market segments, business environment, statutory and regulatory
changes, global economy and business scenario, Currency exchange rate fluctuations,
resource constraints etc. and initiating timely preventive as well as remedial actions.
Reporting and control mechanisms ensure timely information availability and facilitates
proactive risk management. These mechanisms are designed to cascade down to the level of
line managers so that risk at the transaction level is identified and steps are taken
towards mitigation in a decentralized fashion. Risks are being continuously monitored in
relation to business strategy, operations and transactions, statutory/legal compliance,
financial reporting, information technology system etc. based on the inputs from both
external and internal sources like key incidents, Internal audit findings etc. The Risk
Management Committee is responsible for monitoring risk levels on various parameters and
the senior management group ensures implementation of mitigation measures, if required.
The Audit Committee has additional oversight in the area of financial risks and controls.
PREVENTION OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
In order to prevent sexual harassment of women at work place your
Company has adopted a Policy for prevention of Sexual Harassment of Women at Workplace and
has proper mechanism to control the same, which is commensurate with the nature and size
of the business of the Company. During the financial year 2024-25, no complaints have been
received. The Company has an Internal Complaints Committee in compliance with the
provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013.
4. DIRECTORS? RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) read with Section 134(3)(c) of the Companies
Act, 2013, your Directors confirm that: a. in the preparation of the annual accounts the
applicable accounting standards have been followed along with proper explanation relating
to material departures; if any b. they have selected such accounting policies and applied
them consistently and made judgements 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 or loss of the Company for that period; c. they have
taken proper and sufficient care for the
maintenanceofadequateaccountingrecordsinaccordance with the provisions of the Act for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities; d. they have prepared the annual accounts on a going concern basis; e.
they have laid down internal financial controls to be followed by the Company and that
such internal financial controls are adequate and are operating effectively; and f. they
have devised proper systems to ensure compliance with the provisions of all applicable
laws and that such systems are adequate and operating effectively.
5. AUDITORS AND AUDITORS? REPORT
STATUTORY AUDITORS
M/s S.R. Batliboi & Associates LLP, Chartered Accountants (Firm
Registration No. 101049W/E300004), were re-appointed as Statutory Auditors of the Company
by the shareholders at the 32nd Annual General Meeting (AGM) held on September 27, 2022 to
hold office till the conclusion of the 37th AGM of the Company. Hence, they will continue
to be the Statutory Auditors of the Company. The Statutory Auditors? Report does not
contain any qualification, reservations or adverse remarks. The Auditors? Report is
enclosed with the financial statements in this Annual Report.
SECRETARIAL AUDITOR
Pursuant to the provisions of Section 204 of the Companies Act, 2013
and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the
Company has appointed M/s BMP & Co. LLP, Company Secretaries, to undertake Secretarial
Audit of the Company for the financial year 2024-25. The Secretarial Audit Report of the
Company and its material subsidiaries for the FY25 are attached as Annexure VIII, which
forms part of this report. Secretarial
Audit Report does not contain any qualification, reservation or adverse
remarks.
Details in respect of frauds reported by Auditors other than those
which are reportable to the Central Government
The Statutory Auditors and the Secretarial Auditors of the Company have
not reported any frauds to the Audit Committee or to the Board of Directors under section
143(12) of the Companies Act, 2013, including rules made thereunder.
COST RECORDS AND AUDIT
Maintenance of cost records and requirement of cost audit as prescribed
under the provisions of Section 148(1) of the Companies Act, 2013 are not applicable for
the business activities carried out by the Company.
BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT (BRSR)
In pursuance of Regulation 34 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Business Responsibility and Sustainability
Report describing the initiatives taken by the Company from an environmental, social and
governance perspective is enclosed as Annexure X to this report.
SIGNIFICANT ORDERS BY REGULATORS/COURTS/ TRIBUNALS
There are no significant and material orders passed by the regulators
or courts which would impact the going concern status of the Company and its future
operations.
ANNUAL RETURN
The Annual Return of your Company as on March 31, 2025, prepared
pursuant to Section 92 of the Companies Act, 2013 and the Rules made thereunder, in Form
MGT-7 is available on the website of the Company at
https://axiscades.com/investor-relation.
INTERNAL FINANCIAL CONTROLS
Your Company has adopted the policies and procedures for ensuring the
orderly and efficient conduct of its business, including adherence to the Company?s
policies, the safeguarding of its assets, the prevention and detection of frauds and
errors, the accuracy and completeness of the accounting records, and the timely
preparation of reliable financial disclosures.
CORPORATE SOCIAL RESPONSIBILITY (CSR)
The Company dissolved its Corporate Social Responsibility Committee in
its Board Meeting held on June 11, 2021 pursuant to the amendment in CSR Rules and Section
135 of the Companies Act, 2013. The policy has been posted and is accessible on the
Company?s website at www.axiscades.com.
The salient features of which are as under:
• CSR activities are based on three broad indicators of
development namely Human Capital, Social Capital and Economic Capital.
• We recognize the need to work in partnership with other players
as well.
• The Board is responsible to formulate and recommending changes
to the policy indicating the activities to be undertaken including Monitoring and
reviewing CSR activities.
• Transparent Monitoring.
The annual report on CSR activities is furnished in Annexure IX
to this Report.
6. CONSERVATION OF ENERGY, FOREIGN EXCHANGE EARNINGS AND OUTGO
The particulars pursuant to Rule 8(3) of Companies (Accounts) Rules
2014, are given below:
Conservation of Energy
Being an Information Technology Company, the Company?s operations
are not energy intensive. However, adequate measures have been taken to conserve energy by
introducing improved operational methods. The Company in its initiative to be ISO14001
– Environmental Management System compliant, is adhering to the provisions of E-Waste
(Management and Handling) Rules 2011 and Batteries (Management and Handling) Rules 2011,
by efficiently managing the AC installations, replacing PC?s by VPC and recycling of
paper etc.
Foreign Exchange Earnings and Outgo (Standalone)
|
FY 2024-25 |
FY 2023-24 |
| Foreign Exchange Earnings (actual inflows) |
29,647.19 |
25,626.08 |
| Foreign Exchange Outgo (actual outflows) |
10,906.67 |
9,647.84 |
Technology Absorption
The Company does not have any imported technology. Since the
requirements of the technology business are changing constantly, your Company has sought
to focus on critical in-house technologies and processes, which are likely to create value
in the foreseeable future.
7. APPLICATION UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016:
During the year, the Company has not made any application under the
Insolvency and Bankruptcy Code, 2016.
8. FUTURISTIC STATEMENTS
Certain statements made in this section or elsewhere in this report may
be futuristic in nature. Such statements represent the intentions of the Management and
the efforts being put in by them to realize certain goals. The success in realizing these
goals depends on various factors both internal and external. Therefore, the investors are
requested to make their own judgment by taking into account all relevant factors before
making any investment decision.
9. GREEN INITIATIVES
With reference to the MCA circular dated September 25, 2023 read with
and SEBI circular dated October 07, 2023, this year the Company is dispensed with the
printing and dispatch of Annual Reports to the Shareholders. Electronic copies of the
Annual Report are sent to all the members whose email address are so registered.
ACKNOWLEDGEMENTS
Your Directors deeply appreciate and acknowledge the co-operation and
support extended by Clients, Vendors, Investors and Bankers, various government agencies
& regulatory bodies across the globe, the Software Technology Park, Noida, Hyderabad
& Bangalore and other industry forums and agencies like NASSCOM and look forward to
their continued support in the future. Your Directors wish to place on record their
appreciation of the valuable contribution made by the employees of the Company at all
levels.
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