| Dear Members,
The stand-alone financial results ot CCS Infotech Limited for the year
ended March 31, 2014 are presented below:-
(Amount In Lakhs)
particulars 2013-14 2012-13
Revenue 6807,30 4378.93
Expenditure 6771.32 4285.61
Profit before Tax & Depreciation 35.98 93,31
Deprecation 31,38 82.66
Profit after Depreciation but before tax 4.60 10,65
Current Tax 4.98 9.03
Deferred Tax 3.25 0,00
Profit After Tax 2.88 1.62
Reserves & Surpluses 987.64 1002,23
Your Company has made a turnover of Rs.6807.30 Lakhs as compared to Rs.
4378.93 Lakhs of previous year and has made a profit of Rs.2.88Lakhs
compared to Rs.1,62Lakhs previous year.
BUSINESS OUTLOOK
Your Company is among India's leading Information Technology Solutions
provider having a wide range of expertise in Systems Integration and
e-Govemance including Hardware Solutions, Software Development and
Networking Services and into manufacture of computers.
Your Company presently has the following divisions:
1. System Integration - Your Company has partnered with leading IT
hardware Companies and has bagged many System Integration projects.
2. Services - AMC/FMS - Your Company is providing AMC/FMS to leading
companies in different business verticals.
3. Supply Contracts under BGLT/BOQM - Your Company is presently
executing supply contracts under BOLT / BOOM structures for Public
Sector Undertakings and working to achieve a healthy growth in this
segment.
4. E-Governance - Your Company is continuing its services in the E
Governance sector and doing citizen services in Andhra Pradesh and
working towards getting new orders.
5. Networking - Your Company has partnered with leading manufacturers
of networking equipments and presently executing networking projects.
6. Telecom Infrastructure - Your Company has started a division of
executing Civil & Electrical work related to Telecom infrastructure. 7
7. Manufacturing - Your manufacturing Plant is situated at Puducherry
and is having ISO 9001:2008 certification.
our clientele strength has been the key success to our growth. We have
a long-term association with all our clients and many referral clients
are added to clientele year on year
FIXED DEPOSITS
your Company has not accepted any fixed deposit during the year under
review.
DIVIDEND
with a view to preserve the liquid resources and enhance shareholders
value, your directors have not recommended any dividend during the year
under report.
SUBSIDIARY COMPANIES
The Company continues to have one Subsidiary i.e., CCS INFOTECH
SINGAPORE PTE, LIMITED
As per Section 212 of the Companies Act, 1956. the audited Balance
Sheet and Profit & Loss statement along with the respective reports of
the Board of Directors and the Auditor's thereon of the Subsidiary
Company lor the year ended March 2014 are attached. The Statement
pursuant to section 212 of Ihe Companies Ad, 1956 also forms part of
annual report.
As per the requirement of AS-21/27 issued by the ICAI, your company is
pleased to present the consolidated balance sheet, profit and loss
account and cash flow statement of the Company and its subsidiary,
INSURANCE
All insurable interests of the Company including assets, furniture and
fixtures and other insurable interest are adequately insured.
STATUTORY STATEMENTS
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUTGO
Your Company has activities as detailed below relating to conservation
of energy and technological absorption as required to be disclosed
under Section 217 (1)(e) of the Companies Act, 1956, read with the
Companies (Disclosure of Particulars in the report of Board of
Directors) Rules, 1988.
A. Conservation of Energy
Energy conservalion measures taken: The Company is very careful in
using the power to reduce the cost of maintenance and conserve the
resources.
Additional investments and proposals, if any, being implemented for
reduction of consumption of i energy - Nil
B. Technology Absorption and Foreign Exchange earnings & out go
(Disclosure of Particulars with respect 2013-14 2012-13
to technology absorption to the extent
applicable)
i. Research & Development (R&D) NIL NIL
ii. Technology Absorption, Adaptation NIL NIL
and Innovation
iii, Foreign Exchange Earnings NIL NIL
iv. Foreign Exchange Outflow NIL NIL
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to ihe requirement u/s 217(2AA) or the Companies Act. 1956
with respect to Directors' Responsibility Statement your Directors to
the best of their knowledge and belief confirm that:
(i) In the preparation of the annual accounts, the applicable
Accounting Standards have been followed and no material departure has
been made from the same.
(II) They have selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent so as to give true and fair view of the state of affairs of the
Company at the end of the financial year and of the profitless of the
Company for that period:
(iii) They have taken proper and sufficient care for the maintenance ot
adequate accounting records in accordance with the provisions of the
Act so as to safeguard the assets ol the Company and to prevent and
detect fraud and other irregularities; and
(iv) They have prepared the annual accounts on a going concern basis.
PARTICULARS OF EMPLOYEES
During the year under review, there were no employees covered under
Section 217(2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules, 1975.
The Board of Directors wishes to express its appreciation to all the
employees of the Company for their outstanding contribution to the
operation of Company during the year.
INTERNAL CONTROLS AND THEIR ADEQUACY
The internal control systems are commensurate to the size of the
operation of the Company. Whenever n is required, the systems and
procedures are upgraded Id suit the changing business
needs.
STATEMENT PURSUANT TO LISTING AGREEMENT
The company's securities are fisted with Bombay Stock Exchange and it
has paid the respective annual listing fees up-to-date and there is no
arrear.
The Company has obtained your approval at The Annual General Meeting
held on 27th September 2003 to voluntarily de-list the Company's shares
from Madras and Calcutta Stock Exchanges and the Company's application
for delisting is pending with both the Stock Exchanges
CODE OF CORPORATE GOVERNANCE
A detailed report on Corporate Governance as updated with the
particulars of this financial year, as per the directions from SEBI is
annexed to this report (Annexure 'A' together with Report of the
Auditors on the compliance with the said Code and a report of
Management Discussion and Analysis is also annexed separately.
In compliance with the provisions of the Companies Act, 2013 in
accordance with the Company's Articles of Association, Mr. RAVI VARMA,
Mr. H Arun kumar and Mr.Raman Subramani retire by rotation and being
eligible, have offered themselves for re-appointment at the ensuing
Annual General Meeting.
The Company has approached the Institute of Company Secretary and
informed about the vacancy and the same has been displayed in the
Institute's notice board. Some candidates have applied and a Company
Secretary will be appointed at an early date.
Brief resume of the Directors, seeking appointment/ re-appointment,
nature of their expertise as stipulated under clause 49 of the listing
agreement with the Stock Exchanges, is appended to the notice convening
the Annual General Meeting.
AUDIT AND AUDITORS REPORT
The retiring auditors, Mr.NM.IIangumaran,, Chartered Accountants have
expressed willingness to continue in office, if appointed. They have
furnished to the Company a certificate of their eligibility for
appointment as auditors, pursuant to section 141 of the Companies Act,
2013. The Audit Committee and the Board of Directors recommend the
re-appointment of Mr.NM.IIangumaran,, Chartered Accountants as Auditors
for a further period of one year and to fix their remuneration.
ACKNOWLEDGEMENT
The Directors take this opportunity to thank employees at all levels,
Company's Bankers, suppliers, consultants, shareholders, State
Government and other statutory bodies for their unstinted and
consistent support to the Company,
For and on behalf of the Board of
Directors of CCS INFOTECH LIMITED
Director
Place : Chennai
Date : 13.05.2014
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