Financial Year: 2022
ACS Technologies Limited 40th Annual Report 2021-22 Summary:
Company Overview: ACS Technologies Limited, incorporated in 1980, is primarily engaged in the IT and ITES business. The registered office is located in Hyderabad, Telangana.
Board of Directors and Key Personnel: The board includes Ashok Kumar Buddharaju (Chairman and Managing Director), Anitha Alokam (Whole-Time Director), CVSN Murthy and Srinivasan Neti (Independent Directors), and Bhaskar Kishore Varma (Additional Non-Executive Director). Prabhakara Rao Alokam is the Chief Financial Officer and P.V. Nagarjuna is the Company Secretary. M/s MM Reddy & Co. are the statutory auditors.
Annual General Meeting: The 40th Annual General Meeting was held on Friday, September 30, 2022, at 12:00 PM at the registered office. Ordinary business included adopting the audited financial statements for the year ended March 31, 2022, reappointing Ashok Kumar Buddharaju as a director retiring by rotation, and reappointing M/s. M.M.Reddy & Co. as statutory auditors. Special business included the regularization of appointment of MR. BHASKARAKISHORE VARMA MANTENA as director of the company.
Financial Performance (Consolidated): Revenue from operations increased to Rs. 66.79 Cr. in FY 2021-22. Profit After Tax was Rs. 1.14 Cr. EBIDTA increased by Rs.0.67 Cr. The company also advanced an amount of Rs.1.77 Cr.to a company admitted under CIRP by Hon'ble NCLT, Hyderabad. Since no amount out of this advance has been recovered, entire amount has been taken to profit and loss account as expenses, resulting in reduction of Profit to this effect. Key financial figures include (Rs. in Cr.):
| Particulars | 31-Mar-22 | 31-Mar-21 | | :-------------------------------- | :-------- | :-------- | | Revenue from operations | 67.11 | 64.79 | | Total Revenue | 67.14 | 64.83 | | Profit before Tax | 1.66 | 2.84 | | Profit for the Year after tax | 1.16 | 2.03 |
Highlights of Company's Performance: The company achieved a turnover increase of 3.52% over the previous year despite COVID-19 disturbances.
State of Affairs and Business Verticals: The Company continues in the IT/ITES business. It focuses on IT Infrastructure Management, Software Products and Solutions, Security and Surveillance Solutions, and Smart Technologies.
IT Infrastructure Management: ACS provides end-to-end optimization of Data Centers, comprehensive IT solutions, and turnkey projects including Network Design & Implementation, Smart Server Solutions, Storage Solutions, security and Infrastructure. They partner with technology leaders such as Dell, HP, CISCO, Juniper, SAP, Microsoft, VMware, Infinova, and Bosch.
Security & Surveillance Solutions: ACS manages multi-vendor and multi-system based services in Electronic Security, providing state-of-the-art services for Design, Installation, Commissioning and Management of systems including CCTV, Access Control, Fire Detection and Alarm, and Perimeter Protection. Advancements in IP-based security systems and analytics are changing the security landscape.
Business Potential of Security & Surveillance Solutions: The IP surveillance industry has increased potential due to continuous escalation of crimes and global terrorism. The Indian government is undertaking initiatives to improve security, such as installing CCTV cameras in public places. The Asia-Pacific region is seeing tremendous growth in video surveillance systems. IP-based surveillance systems are considered indispensable in industries and government projects. The market shifts towards IP-based surveillance cameras and the adaptation of technologies like AI, IoT, and smart video analytics. India's surveillance systems market is estimated to be a $2.5 billion industry. ACS is a key player, implementing Safe City Projects for L&T and having a large client base in Defence and Govt Establishments.
Smart Technologies: ACS markets its Home and Office intelligence products under the brand name “IOTIQ”. The Indian Home Automation Industry will grow with a double-digit CAGR of 15.62% during 2021-2027. ACS is investing in developing Algorithms supporting a deep learning neutral network to access the user's pattern on using appliances. Their vision includes every online service provider, e-commerce website, local services, and utility providers integrated into their system. Key offerings include Voice Controlled systems (Amazon Alexa & Google Home), Appliance Controlled, Temperature Controlled, intrusion detection, energy savings, lock mode, mood controlled, and schedulable actions, and IP camera access. Their system bundles with Athena Smart Analytics Mobile, Desktop and Web Platform.
Software Solutions: ACS offers custom software application design and development and data analytics expertise. Their software product portfolio includes: ACS IntelliQ (Queue Management), ACS DMS (Document Management), ACS HelpDesk, ACS CMS (Content Management), and ACS LMS (Learning Management). Their IntelliQ software is being used by Apollo Health group. Its Enterprise Document Management System was installed with APEPDCL.
USPs of ACS:
Future Outlook - Technology R&D: ACS plans to set up an R&D division focusing on Industrial IOT (IIOT) and exploring solutions for Construction, Manufacturing, Pharma, Health, and Agriculture. They are also focusing on Sensor and Data Acquisition Systems, and Athena Smart Analytics. Business Development: ACS has a predominant revenue footprint in Telangana, Andhra Pradesh, Kerala, Orissa, Maharashtra and Chhattisgarh and aims to expand domestically and internationally. ACS is planning enhancement of sales team, expansion of national and global footprint and in continuous branding and digital awareness campaigns. It has plans of setting up sales offices in major cities in India like Chennai, Bengaluru, Pune, Mumbai, Delhi NCR, Kolkata etc and also in Middle East and APAC regions. It already has partnerships with established companies in Thailand and Naresuan University of Thailand which is promoted by the Royal family of Thailand.
Other Key Points:
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