Annual Report: 2023
Annual Report Summary: Capgemini Technology Services India Limited (2022-23)
Overview: Capgemini Technology Services India Limited ("CTSIL"), a public limited company, is primarily engaged in providing IT, IT-enabled operations, and business process outsourcing solutions. The report summarizes the company's performance for the fiscal year ended March 31, 2023.
Board of Directors and Committees: The report lists the Board of Directors, including Ashwin Yardi (Wholetime Director and CEO), along with non-executive and additional directors. It also identifies members of the Audit Committee, Stakeholders' Relationship Committee, Nomination and Remuneration Committee, and Corporate Social Responsibility Committee.
Notice for Annual General Meeting (AGM): The 30th AGM will be held on September 26, 2023, via video conferencing, to consider the audited standalone and consolidated financial statements for the year ended March 31, 2023, re-appoint retiring directors (Ashwin Yardi, Aruna Jayanthi, Paul Hermelin, Aiman Ezzat, Maria Pernas, Shobha Meera) and appoint Anne Lebel as a Non-Executive Director. Electronic voting (e-voting) instructions are detailed.
Financial Highlights (INR in million):
| Item | 2022-23 (Standalone) | 2021-22 (Standalone) | 2022-23 (Consolidated) | 2021-22 (Consolidated) | | --------------------------- | -------------------- | -------------------- | -------------------- | -------------------- | | Revenue from Operations | 278,428 | 225,711 | 278,754 | 226,288 | | Total Income | 283,490 | 230,031 | 283,853 | 230,650 | | Employee Benefit Expenses | 202,598 | 163,406 | 202,684 | 163,492 | | Total Expenses | 243,882 | 198,460 | 244,120 | 198,846 | | Profit Before Tax | 39,608 | 31,571 | 39,733 | 31,804 | | Profit for the Year | 29,627 | 24,886 | 31,748 | 23,070 | |Total Comprehensive Income | 30,104 | 23,321 | 32,310 | 21,533 |
The revenue and other income showed a growth of 23.24% compared to the previous year. The Company's profit for the year increased from INR 24,886 million to INR 29,627 million. The company did not recommend any dividend.
Share Capital: As of March 31, 2023, the authorized capital was INR 19,261.1 million, while the issued and paid-up capital stood at INR 592.7 million.
Subsidiaries and Branches: The Company has two subsidiaries and four branches. Amalgamation of Aricent Technologies (Holdings) Limited with the Company is completed. Standalone and consolidated financial statements are available on the company website.
Related Party Transactions: The company has historically undertaken related party transactions in the ordinary course of business and at arm's length.
Business Activities: The company is a leading provider of IT services globally.
Corporate Governance: The company emphasizes fairness for every stakeholder and believes in sound corporate governance.
Investor Education and Protection Fund (IEPF): Details of shares transferred to IEPF are available on the company website. Members can claim unclaimed dividends/shares by applying to the IEPF Authority.
Equity Shares in Unclaimed Suspense Account: As of March 31, 2023, there were 185 shareholders with 14,769 shares in the unclaimed suspense account.
Green Initiative: The company promotes environmental initiatives and encourages stakeholders to register their email addresses for electronic communication.
Directors and Key Managerial Personnel: Lists independent directors, appointments (Ms. Anne Lebel), resignations (Mr. Hubert Giraud), and re-appointments (Mr. Ashwin Yardi).
Board Meetings: The Board met six times during the financial year.
Committees of the Board: Includes details of the Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, and Stakeholders Relationship Committee and the number of meetings held by each.
Annual Evaluation of Performance: The Board conducted an annual evaluation of its own performance, its committees, and individual directors.
Risk Management Policy: The company has a risk management policy that sets out the principles and processes for managing risks.
Vigil Mechanism: The company has a Code of Ethics and Business Conduct, applicable to employees and directors.
Secretarial Standards: The company has complied with all applicable mandatory secretarial standards.
Directors' Responsibility Statement: Confirms adherence to accounting standards, proper maintenance of records, and effective internal financial controls.
Human Resources: The company had a total manpower of 163,289 as of March 31, 2023, and invests in continuous skills development.
Auditors: Details on the internal auditor, statutory auditor (Price Waterhouse Chartered Accountants LLP), and secretarial auditor (Kaushik M. Jhaveri & Co.) are provided.
Annual Return: The annual return is available on the company's website.
Cost Records and Cost Audit: Not applicable to the company's business activities.
Internal Financial Controls: The company has adequate internal financial control commensurate with its size and nature of business, and these are routinely tested.
Corporate Social Responsibility: The company is committed to CSR and carries out activities in line with focus areas. A brief report is in Annexure V.
Conservation of Energy, Technology Absorption, Foreign Exchange: Details provided on conservation of energy, technology absorption (no technical collaborations), foreign exchange earnings (INR 248,435 million) and outgo (INR 8,984 million).
Other Disclosures: Acquisition of Altran Technologies India Private Limited; No significant and material orders affecting the company's going concern status; Details of postal ballot conducted; No instances of fraud reported by auditors; No corporate insolvency resolution process initiated; Disclosure as per the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 (14 complaints received and addressed).
Acknowledgements and Appreciation: The Directors express appreciation to customers, shareholders, bankers, and employees.
Annexures: Include statements on the financial statements of subsidiaries, related party transactions, remuneration policy, secretarial audit report, and CSR activities.
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