Annual Report: 2021
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:
Key Performance Highlights & Challenges:
Business Strategy & Developments:
IT Infrastructure Management:
Security & Surveillance Solutions:
Smart Technologies & IOTIQ:
Athena Smart Analytics System:
Software Solutions:
Other Matters:
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.
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