Financial Year: 2021
ACS Technologies Limited 39th Annual Report Summary (2020-21)
Company Overview: The report is the 39th annual report of ACS Technologies Limited for the financial year 2020-21. The registered office of the company is located in Hyderabad, Telangana, India.
Board of Directors and Key Personnel: The board of directors includes 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 is the Company Secretary and Compliance Officer.
Annual General Meeting: The 39th Annual General Meeting was scheduled to be held on Tuesday, November 30, 2021, at 12:00 pm at the registered office of the company. The ordinary business to be transacted includes receiving, considering, and adopting the audited financial statements for the year ended March 31, 2021, and the reports of the Board of Directors and Auditors thereon. Another agenda item was to re-appoint M/S. Anitha Alokam (DIN 07309591) as a Director, who was retiring by rotation and offered themself for reappointment.
Financial Performance (Year Ended March 31, 2021): The following is a summary of the company's financial performance (all figures in Crores INR):
Highlights of Company's Performance:
State of Affairs: The company is engaged in the IT/ITES business, with no changes in business activity during the year.
Management Discussion and Analysis: The company is focusing on Artificial Intelligence, Machine Learning, and Robotics. The company is building on its core business verticals of IT Infrastructure Management and Security Solutions.
Other Matters:
Auditor's Report: M/s MM Reddy & Co., Chartered Accountants, provided the independent auditor's report on the standalone financial statements. The report includes opinions on the financial statements, key audit matters, and responsibilities of management and the auditor. The auditors also provided a report on internal financial controls. They have not reported any offense involving any fraud committed against the company by any officer or employee of the Company during the current financial year.
Financial Statements: The report includes the balance sheet as of March 31, 2021, and the statement of profit and loss for the year ended on that date. It provides details on shareholders' funds, liabilities, assets, revenue, expenses, and other financial information. Also included are the notes to the accounts.
Other Information: Anitha Alokam is a Director who is seeking reappointment. The director identification number is 07309591 and the date of birth is June 10, 1978. She holds 7,44,003 equity shares in ACS Technologies Limited (10.88% of the paid-up equity share capital of the Company). She is also a Director of BLUENINE TECHNOLOGIES PRIVATE LIMITED.
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