Acs technologies Ltd Shares Annual Reports

Acs technologies Ltd Shares

ACS Technologies Limited Annual Report 2022-23 Summary: **Overview:** This report details the 30th Annual General Meeting for ACS Technologies Limited (formerly LN Industries India Limited) for the financial year 2022-23. The meeting is scheduled for Saturday, September 30th, 2023, at 12:00 PM at the company's registered office in Hyderabad. The report includes information on the board of directors, key managerial personnel, company secretaries, statutory auditors, bankers, registrars, and share transfer agents. It also covers the initiation of the Corporate Insolvency Resolution Process (CIRP), the financial summary and state of the company's affairs, management discussion and analysis, and notes to the financial statements. **Key Personnel & Contact Information:** * **Board of Directors:** Ashok Kumar Buddharaju (Chairman and Managing Director), Anitha Alokam, and Ramadevi (both Non-Executive Directors). * **Key Managerial Personnel:** Prabhakara Rao Alokam (Chief Financial Officer). * **Company Secretary & Compliance Officer:** P.V. Nagarjuna. * **Registered Office:** Level-7, Pardha Picasa Building, Madhapur, Hyderabad, Telangana, India. * **Statutory Auditors:** M/s. Gorantla & Co., Chartered Accountants, Hyderabad. * **Bankers:** HDFC Bank Limited, Banjara Hills Branch, Hyderabad. * **Registrars and Share Transfer Agents:** Skyline Financial Services Pvt. Ltd., Mumbai. **Ordinary Business & Resolutions:** The AGM includes agenda items to: * Receive, consider, and adopt the audited financial statements for the year ended March 31, 2023, including the reports of the Board of Directors and Auditors. * Re-appoint Mrs. Anitha Alokam as Director, who is retiring by rotation. * Re-appoint Statutory Auditors (M/s. GORANTLA & Co.) from the conclusion of the current AGM until the conclusion of the Sixth consecutive AGM and to fix their remuneration. * Approve the appointments of Mr. SRINIVASAN NETI and Mr. CHALAGALLA VENKATA SATYANARAYANA MURTHY as Independent Directors for five-year terms. * Approve the appointment of Shri. Ashok Kumar Buddharaju as Chairman and Managing Director for a five-year term. **CIRP & Financial Performance:** * The company was undergoing CIRP, initiated on July 1, 2022. A resolution plan submitted by Mr. Ashok Kumar Buddharaju and Mr. Ratakonda Vivek Kumar was approved. The objects of the business have been changed to Information Technology/Information Technology Enabled Services. ACS Technologies Limited has been merged with LN Industries India Limited with effect from March 31, 2022. The name of the company has been changed from LN Industries India Limited to ACS Technologies Limited with effect from June 26,2023. * The Financial Summary shows standalone and consolidated figures (in Lakhs) for 31-Mar-23 and 31-Mar-22, including revenue from operations, other income, total revenue, profit/loss before interest, depreciation & tax, depreciation, financial charges, profit/loss before tax, tax expenses, and profit/loss for the year after tax. **Management Discussion and Analysis Highlights:** * The company's core business verticals include IT Infrastructure Management, Software Products and Solutions, Security and Surveillance Solutions, and Smart Technologies. * IT Infrastructure Management involves providing end-to-end optimization of Data Centers. * Security & Surveillance solutions involve physical and IP-based security systems. * The company markets Home and Office intelligence products under the branch name “IOTIQ”. **Technology and Future Outlook:** * The company plans to set up an R&D division focusing on Industrial IOT (IIOT) and solutions for Construction, Manufacturing, Pharma, Health and Agriculture industries. Some targeted areas include Sensor and Data Acquisition Systems, Intelligent Occupancy Sensors, Proximity Detection, Smart Helmets, and Smart Farming. **Corporate Governance & Other Details:** * The report includes sections on Corporate Governance, Directors' Responsibility Statement, declaration by Independent Directors, particulars of Directors/KMP/specified employees, details of loans/guarantees/investments, information on shares, related party transactions, and export activities. Also, mentions the existence of a formal internal control system, and states that the Board hasn't recommended dividend. * M/s VCSR and Associates is the secretarial auditor. **Annexures:** Provide detailed data, including shareholding patterns, director details, and other compliance-related information, as required by regulatory bodies such as SEBI. Instructions and details related to e-voting are also provided. * Note:- As per NCLT order No. CP(IB) NO.17/9/HDB/2022, Dated 24.03.2023, all promoter shareholding cancelled and 98% public shareholding had been cancelled.

Acs technologies Ltd Shares

ACS Technologies Limited 40th Annual Report 2021-22 Summary: **Overview** The document is the 40th Annual Report for ACS Technologies Limited, covering the financial year 2021-22. It includes the Director’s Report, financial statements (both standalone and consolidated), auditor’s reports, and other relevant corporate governance information. The annual general meeting will be held on Friday 30th September, 2022 at 12.00 PM. **Board of Directors and Key Personnel** The report identifies the Board of Directors, including Mr. Ashok Kumar Buddharaju (Chairman and Managing Director), Mr. Anitha Alokam (Whole-Time Director), Mr. CVSN Murthy and Mr. Srinivasan Neti (Independent Directors), and Mr. Bhaskar Kishore Varma (Additional Non-Executive Director). Key managerial personnel include Mr. Prabhakara Rao Alokam (Chief Financial Officer) and Mr. P.V Nagarjuna (Company Secretary). **Ordinary Business** The ordinary businesses to be transacted during the Annual General Meeting include to receive, consider and adopt the Audited financial Statements of the company for the financial year ended March 31, 2022 the Reports of the Board of directors and Auditors thereon; To reappoint Mr. Ashok Kumar Buddharaju (DIN 03389822) as Director, who retires by rotation; To reappoint Statutory Auditors from the conclusion of this Annual General Meeting until the conclusion of the Sixth consecutive Annual General Meeting and to fix their remuneration. **Special Business** The special business to be transacted during the Annual General Meeting includes Regularization of appointment of MR. BHASKARAKISHORE VARMA MANTENA (DIN:-09631430) as director of the company. **Financial Performance Summary (Consolidated):** * Revenue from operations increased to Rs. 66.79 Cr. during the current financial year as compared to last year revenue of Rs. 64.52 Cr. There was an increase in turnover of about 3.52% over the previous year. * The Company earned Profit After Tax of Rs. 1.14 Cr. during the current financial year compared to net profit of Rs. 2.02 Cr. in the previous financial year. * EBIDTA of the company in the current financial year is of Rs.7.10 Cr. as against Rs.6.43 Cr. of previous financial year. * Revenue from operations: Rs. 67.11 Cr (31-Mar-22) vs Rs. 64.79 Cr (31-Mar-21) * Total Revenue: Rs. 67.14 Cr (31-Mar-22) vs Rs. 64.83 Cr (31-Mar-21) * Profit before Tax: Rs. 1.66 Cr (31-Mar-22) vs Rs. 2.84 Cr (31-Mar-21) * Profit for the Year after tax: Rs. 1.16 Cr (31-Mar-22) vs Rs. 2.03 Cr (31-Mar-21) **Financial Performance Summary (Standalone):** *Revenue from operations for the standalone entity stood at Rs. 66.75 Cr for the year ended March 31, 2022 as compared to Rs. 64.47 Cr for the year ended March 31, 2021. *Profit after tax stood at Rs. 1.14 Cr for the year ended March 31, 2022 as compared to Rs. 2.02 Cr for the year ended March 31, 2021. **Company Activities and Business Verticals** ACS Technologies is engaged in the business of IT/ITES. The company focuses on IT Infrastructure Management, Software Products and Solutions, Security and Surveillance Solutions, and Smart Technologies. **IT Infrastructure Management:** The company provides end-to-end optimization of Data Centers aligned with business trends and latest technologies. Services include turnkey projects for Network Design & Implementation, Smart Server Solutions, Storage Solutions, security and Infrastructure. **Security & Surveillance Solutions:** ACS offers services in Electronic Security and Dynamic Security, including Design, Installation, Commissioning and Management of systems like CCTV, Access Control, Fire Detection & Alarm, Perimeter Protection, etc. The company leverages IP based security systems and analytics. **Smart Technologies:** ACS markets its Home and Office intelligence products under the brand name "IOTIQ". They focus on providing automation that requires no human intervention, with a vision to include online service providers and e-commerce websites in their system. Indian Home Automation Industry will grow with a double-digit CAGR of 15.62% during 2021-2027. **Software Solutions:** ACS offers custom software application development with expertise in data analytics, Big Data, and various container architectures. Products include ACS IntelliQ (Queue Management), ACS DMS (Document Management), ACS HelpDesk, ACS CMS (Content Management), and ACS LMS (Learning Management System). **ACS USPs** * IOT Solutions: Own products with the ability to customize designs. * Athena - Integrated Platform: Integration of own and 3rd party sensors, solutions for Govt/Large Corporate/Smart City requirements, and a software platform to allow IoT product developers to build/integrate software. * IT Infra: 40+ years of experience in IT Infrastructure Services. * Security and Surveillance Solutions: System Integrator combining IT Infra, IoT, Security and Surveillance. * Software Products: Niche products in SaaS and PaaS model. **Future Outlook** ACS plans to establish an R&D division focusing on Industrial IoT (IIOT) and solutions for Construction, Manufacturing, Pharma, Health and Agriculture. They also aim to lower production and supply chain costs by building an in-house setup with personnel, electronics assembly line equipment and a test center. The company will focus on high-value contracts in the B2B and B2G segments. ACS is enhancing its sales team, expanding nationally and globally, and increasing branding and digital awareness campaigns. It plans to set up sales offices in major cities in India and in the Middle East and APAC regions. **Corporate Governance** The report provides details of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Risk Management Committee, and Internal Complaints Committee (ICC), including the names of the members and their designations. **Loans, Guarantees and Investments** The Company has outstanding unsecured loans taken from directors amounting to Rs.64,19,377/- as on 31st March,2022. The company has given unsecured loan to its subsidiary namely IOTIQ Innovations Private Limited and its outstanding as on 31st March, 2022 is of Rs.98,48,848/- **Material Changes and Commitments** The Directors have not recommended any dividend for the current financial year. No material changes and commitments affecting the financial position of the company occurred between the end of the financial year to which this financial statement relates and the date of this report. **Auditor's Report** The auditor's report indicates that the standalone and consolidated financial statements give a true and fair view of the company's affairs and comply with the accounting standards. The report also includes annexures related to internal financial controls and other regulatory requirements. The independent directors have submitted a declaration confirming that they meet the criteria of independence as laid down under Section 149(6) of the Act as the committee of Independent Director.

Acs technologies Ltd Shares

ACS Technologies Limited 39th Annual Report 2020-21 Summary: **Company Overview:** The 39th Annual Report of ACS Technologies Limited for the financial year 2020-21 details the company's performance, financial standing, and future outlook. The company is engaged in the IT/ITES business. The Annual General Meeting was scheduled for November 30, 2021. **Board of Directors:** The Board of Directors included Mr. Ashok Kumar Buddharaju (Whole-Time Director & CEO), Mr. A Prabhakara Rao (Whole-Time Director & CFO), Mr. A. Anitha (Whole-Time Director), and Mr. CVSN Murthy, Mr. IV Sarma, and Mr. Srinivasan Neti as Independent Directors. Ms. Hema Kumari served as the Company Secretary & Compliance Officer. **Financial Performance (Year Ended March 31, 2021):** The company's financial summary, with figures in Crores of Rupees, shows: * Revenue from operations increased to Rs. 64.48 Crores compared to Rs. 61.49 Crores in the previous year. * Total Revenue increased to Rs. 64.52 Crores compared to Rs. 61.58 Crores. * Net Profit decreased to Rs. 2.02 Crores from Rs. 3.71 Crores in the previous financial year, affected by the COVID-19 pandemic. * Exports of services increased from $5552.51 USD to $7,48,857 USD, a growth of 134.8 times. **Key Performance Highlights & Challenges:** * Increase in turnover was mainly due to revenues from supplies, whereas service operations were affected by the COVID-19 pandemic. * Margins from supplies are relatively lower than margins from services. This shift in turnover mix, along with continued employee and administrative costs during lockdowns, contributed to the decrease in profits. * The company's authorized share capital is Rs. 15,00,00,000. **Business Strategy & Developments:** * ACS is focusing on Artificial Intelligence, Machine Learning, and Robotics. * The company forayed into Smart Technologies, recognizing the digital transformation. * The company is focusing on IT Infrastructure Management and Security Solutions. * ACS has started its journey in Smart Technologies business. **IT Infrastructure Management:** * IT Infrastructure Solutions include turnkey projects involving Network design and implementation, Smart Server Solutions, Storage Solutions, and Security. * The company partners with technology leaders like Dell, HP, CISCO, Juniper, SAP, Microsoft, VMware, and Infinova. **Security & Surveillance Solutions:** * Security and Surveillance Systems include Video Surveillance, Access Control, Fire Detection & Alarm, and Public Address Systems. * The company is leveraging advancements in IP-based security systems and analytics. * The Asia-Pacific region is witnessing tremendous growth in the use of video surveillance systems. * Surveillance cameras are being used to replace or reduce human intervention. **Smart Technologies & IOTIQ:** * ACS markets its Home and Office intelligence products under the brand name "IOTIQ." * The India home automation market size was valued at $1,790.9 million in 2018 and is expected to reach $13,574.1 million by 2026, growing at a CAGR of 29.8%. * IOTIQ offers features like voice control, appliance control, temperature control, and intrusion detection. **Athena Smart Analytics System:** * Athena Smart Analytics System integrates multiple Smart Sensor Technologies, providing Visualization, Analytics, and Decision Support. * Athena integrates with over 16 IoT Systems. **Software Solutions:** * ACS offers Custom Software Application Design and Development. * The company offers Big Data and Analytics custom solutions on platforms like Hadoop, R, and Kubernetes. **Other Matters:** * The company's website is www.acstechnologies.co.in, where the annual report for FY 2020-21 is published. * Six Board of Directors meetings were held during the financial year 2020-21. * No fraud was reported by the auditor. * M/s MM Reddy & Co. are the appointed Statutory Auditors. * The company had unsecured loans outstanding from directors amounting to Rs. 99,55,748 as of March 31, 2021. Unsecured loans were also made to subsidiaries/associates: IOTIQ Innovations Pvt Ltd (Rs.71,19247/-) and Leadmax Technologies Pvt Ltd (Rs.23,72,879/-). * The company earned a net profit of Rs. 2,02,01,951 during the current financial year. * The directors have not recommended any dividend for the current financial year. * Mr. Pavuluri Venkata Nagarjuna was appointed as Company Secretary on October 1, 2021. * Exports of Products/Services amounted to $7,48,857 USD, and Imports amounted to $5,900 USD. **Auditor's Report:** The independent auditor's report from M M Reddy & Co. provides an opinion on the standalone financial statements, stating they give a true and fair view in conformity with accounting standards. The audit was conducted in accordance with Standards on Auditing (SAs) issued by ICAI. The report also addresses internal financial controls over financial reporting, noting an adequate system operating effectively. **Financial Statements:** The balance sheet as of March 31, 2021, indicates total equity and liabilities of Rs. 50,75,35,968 and total assets of the same amount. The profit and loss account for the year ended March 31, 2021, shows a profit for the period from continuing operations of Rs. 2,02,01,951. **Notes to Accounts:** The notes to accounts detail the basis of preparation of financial statements, share capital, reserves and surplus, unsecured loans, long term borrowings, deferred tax assets/liabilities, short term borrowings and other financial details. The company has incurred a Tax liability of Rs. 69,81,454/- during the current year and EPS is Rs.1.37/- per share. **Resolutions:** The meeting included resolutions to: 1) receive, consider, and adopt the audited financial statements for the year ended March 31, 2021, and 2) appoint a Director in place of M/S. Anitha Alokam, who retires by rotation and offers himself for reappointment.