Chennai Super Kings (CSK) Shares Annual Reports

Chennai Super Kings (CSK) Shares

The Chennai Super Kings Cricket Limited 2024 Annual Report provides a comprehensive overview of the company's performance and financial standing for the year ended March 31, 2024. The report includes a notice to shareholders, director's report, independent auditor's report, financial statements, and other relevant information. The tenth Annual General Meeting is scheduled for September 27, 2024, and will be held via video conferencing. **Key Personnel & Governance** The board of directors includes Sri R. Srinivasan (Chairman), Sri K.S. Viswanathan (Whole Time Director & CEO), Sri Rakesh Singh, Sri PL. Subramanian, Sri Sanjay Shantilal Patel, Sri V. Manickam, Smt. E. Jayashree, Sri B. Kalyanasundaram, and Sri K. Ramgopal. The auditors are Messrs Brahmayya & Co., Chartered Accountants, Chennai. Notice is given for the re-appointment of Smt.E.Jayashree as a director and the appointment of Sri.K.S.Viswanathan as Managing Director. Sri Sanjay Shantilal Patel and Sri V. Manickam are up for appointment as Independent Directors. **Shareholder Information & AGM Details** Shareholders will receive notice of the Tenth Annual General Meeting via email, with the option to participate through video conferencing. Remote e-voting will be available, and the process is detailed within the document. The Register of Members and Share Transfer Books will be closed from September 21, 2024, to September 27, 2024. The company encourages members to register their email addresses for communication purposes. The facility to appoint a proxy is not available for this AGM. M/s. Brahmayya & Co. are recommended for reappointment as Statutory Auditors for a term of 5 years. **Financial Performance** The company reported total revenue of ₹67,640.25 Lakhs for the year ended March 31, 2024, compared to ₹29,234.36 Lakhs in the previous year. Profit after tax increased to ₹22,910.70 Lakhs from ₹5,217.44 Lakhs in the previous year. No dividend has been declared to conserve resources. Paid-up equity share capital increased from ₹3.08 Crores to ₹3.79 Crores due to conversion of Optionally Convertible Debentures. Superking Ventures Private Limited (SVPL) recorded a turnover of ₹ 547.68 Lakhs, while Joburg Super Kings (JSK) franchise total revenues increased from 3039.40 Lakhs to 4023.06 Lakhs. **Operational Highlights** Chennai Super Kings (CSK) finished in 5th place in the Indian Premier League (IPL) Season XVII. The company also owns and operates the 'Joburg Superkings Franchise' in South Africa and increased its Global footprint by being part of the Major League Cricket in USA through Texas Super Kings International LLC. Super Kings Academy, a training center for cricketers, has expanded to 9 centers in Tamil Nadu and two overseas. **Corporate Social Responsibility (CSR)** The CSR policy focuses on supporting and developing communities, nurturing the environment, and enhancing company value. The average net profit for CSR calculation is ₹5,701.90 lakhs, resulting in a CSR obligation of ₹114.04 lakhs. **Other Key Points** The company has implemented a risk management policy. Adequate internal financial controls are in place. Details of related party transactions are provided in the notes on accounts. Sri.K.S.Viswanathan is proposed to be appointed as a Managing Director of the Company. Sri Sanjay Shantilal Patel and Sri.V.Manickam are up for appointment as Independent Directors after having been co-opted to the Board. Brahmayya & Co., Chartered Accountants are proposed for re-appointment. The report from the Statutory Auditors for the year ended 31st March, 2024, does not contain any qualification or disclaimer. There were no material changes and commitments affecting the financial position of the Company other than those disclosed in the financial statements.

Chennai Super Kings (CSK) Shares

SUPERISING Chennai Super Kings Cricket Limited 2023 Annual Report Summary: **General Information:** The document is the 9th Annual Report of Chennai Super Kings Cricket Limited (CSKCL) for the fiscal year ending March 31, 2023. The 9th Annual General Meeting (AGM) will be held on September 27, 2023, via video conferencing. **Notice to Shareholders:** The notice outlines the agenda for the Ninth Annual General Meeting (AGM) of Chennai Super Kings Cricket Limited, including the adoption of audited financial statements and the reappointment of Sri P.L. Subramanian as a Director. Special resolutions are proposed regarding the Board's authority to give loans, guarantees, provide security, acquire securities, borrow monies, and mortgage/charge company assets. Shareholder approval is sought for entering into contracts with EWS Finance and Investments Private Limited. The meeting will be conducted virtually (VC/OAVM) and remote e-voting will be available. Members who have not registered their e-mail addresses are requested to do so with their Depository Participant or the Registrar & Share Transfer Agent (RTA). **Directors' Report:** * **Financial Performance:** The company's total revenue decreased from ₹34,914.66 Lakhs to ₹29,234.36 Lakhs. Profit after tax increased from ₹3,154.11 Lakhs to ₹5,217.44 Lakhs. * **Dividend:** No dividend was declared for the financial year. * **Share Capital:** The paid-up equity share capital remained at ₹3.08 Crores, consisting of 30,81,53,074 equity shares of ₹0.10 each. * **Company Performance:** CSK won the IPL Championship in May 2023. The team has won five IPL titles and qualified for the playoff stages 12 times. * **Internal Financial Controls:** The company has adequate internal financial controls. * **Risk Management:** The company has a risk management policy in place. * **Related Party Transactions:** Transactions are in the ordinary course of business and at arm's length. * **Consolidated Financial Statements:** Audited consolidated statements are included in the report. * **Subsidiaries:** * Superking Ventures Private Limited started operations with two academies and a talent management business, resulting in an operating loss of ₹645.17 Lakhs due to setup costs. * Joburg Super Kings (Pty) Ltd, a wholly-owned subsidiary in South Africa, experienced an operating loss of ₹3,302.29 Lakhs during the year. * **Loans, Guarantees, and Investments:** Details are in the notes to the standalone financial statements. * **Material Orders:** No orders were passed by regulatory authorities or courts/tribunals impacting the company's going concern status. * **Material Changes:** There have been no material changes and commitments affecting the financial position of the Company * **Annual Return:** Available on the company website. * **Public Deposits:** The Company has not accepted any deposits from the public during the financial year 2022 -23. * **Foreign Exchange:** ₹3,764.32 Lakhs and ₹237.55 Lakhs were used and earned respectively in foreign exchange. * **Directors:** Sri P.L. Subramanian retires by rotation and is eligible for reappointment. * **Independent Directors:** The independent directors meet the criteria for independence. * **Directors' Responsibility Statement:** Confirms compliance with accounting standards and maintenance of adequate accounting records. * **Personnel:** No remuneration was paid to any director except the Whole time Director. There was no complaint of harassment reported during the year. * **Board Meetings:** Nine Board meetings were held during the year. * **Key Managerial Personnel:** Sri. K.S.Viswanathan is the Wholetime Director designated as Chief Executive Officer. * **Audit Committee:** The audit committee consists of Sri. R.Srinivasan, Sri K. Ramgopal and Sri. B. Kalyanasundaram. The Report of the Statutory Auditors does not contain any qualification, reservation or other remarks. * **Corporate Social Responsibility (CSR):** A report on CSR activities is given in Annexure 1. * **Vigil Mechanism:** A vigil mechanism is established for directors and employees to report their genuine concerns. * **Other Disclosures:** There was no application under Insolvency and Bankruptcy Code initiated or any one-time settlement with any bank or financial institutions. * **Cost Records:** The Company is not required to maintain cost records. * **Internal Auditor:** Messrs Capri Assurance and Advisory Services has been appointed as internal auditors for the year 2023-24. * **Secretarial Auditor:** Smt. P.R.Sudha, Practising Company Secretary, has been appointed as Secretarial Auditor of the Company for the year 2023-24. The Secretarial Auditor's Report does not contain any qualification, reservation or other remarks. * **Acknowledgement:** The continued dedication and sense of commitment shown by the employees at all levels during the year deserve special mention. **Annexure 1: CSR Activities:** * The CSR policy focuses on understanding, supporting, and developing communities, nurturing the environment, and enhancing the company's value. * The CSR committee is chaired by Sri K S Viswanathan and includes Sri R Srinivasan, Sri Rakesh Singh, and Sri B Kalyanasundaram as members. * The average net profit for CSR calculation is ₹6,259.38 lakhs, resulting in a CSR obligation of ₹125.19 lakhs. * ₹125.19 Lakhs was spent on CSR projects other than ongoing projects. There were Nil amount of Ongoing Project. The total unspent amount transferred to unspent CSR account is Nil. * No capital assets were created or acquired through CSR spending **Annexure 2: Subsidiary Information:** This section provides details of the company's subsidiaries, Superking Ventures Private Limited and Joburg Super Kings (Pty) Ltd, including their reporting period, share capital, turnover, and profit/loss before and after taxation. **Annexure 3: Secretarial Audit Report:** This section contains the Secretarial Audit Report. The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. There were no changes in the composition of the Board of Directors during the period under review. **Independent Auditor's Report:** The auditors provide an opinion that the standalone and consolidated financial statements present a true and fair view in accordance with Indian Accounting Standards. There is emphasis of matter regarding the requirement of maintaining earmarked deposits in respect of unsecured optionally convertible debentures. The company has an adequate internal financial controls system over financial reporting. **Financial Statements:** The report includes the Balance Sheet, Statement of Profit and Loss, Statement of Changes in Equity, and Cash Flow Statement for both standalone and consolidated financials. Detailed notes to the financial statements are provided. **Key Financial Data (Standalone):** * **Total Revenue:** ₹29,234.36 Lakhs * **Profit After Tax:** ₹5,217.44 Lakhs * **Equity Share Capital:** ₹308.15 Lakhs **Proposed Actions:** * Reappointment of Sri P.L. Subramanian as director. * Shareholder approval for special resolutions related to loans, guarantees, borrowing powers, mortgages, and contracts with related parties.

Chennai Super Kings (CSK) Shares

Annual Report 2022 for Chennai Super Kings Cricket Limited **Notice to Shareholders** The 8th Annual General Meeting (AGM) of Chennai Super Kings Cricket Limited was held on Wednesday, September 21, 2022, at 09:30 A.M. (IST) through Video Conferencing ("VC")/ Other Audio Visual Means (“OAVM"). The notice included information on ordinary and special business to be transacted at the AGM, including the adoption of audited financial statements, the reappointment of Director Sri R. Srinivasan, and the reappointment of Sri K.S. Viswanathan as Wholetime Director designated as Chief Executive Officer (CEO) for two years effective January 19, 2023, with specified remuneration. Members were informed that the AGM would be conducted in virtual mode, and attendance through VC/OAVM would count towards quorum. Remote e-voting was available through Central Depository Services (India) Limited (CDSL). Instructions for shareholders on e-voting and joining virtual meetings were provided, including alternative login methods through Depositories CDSL/NSDL. The voting rights of shareholders shall be in proportion to their shares of the paid-up equity share capital. **Directors' Report** The Directors presented the Eighth Annual Report, highlighting the financial results for the year ended March 31, 2022. The company's total revenue was ₹34914.26 Lakhs compared to ₹25369.86 Lakhs for the previous year. Profit after tax was ₹3212.49 Lakhs versus ₹4026.22 Lakhs in the previous year. No dividend was declared to conserve resources, and no amounts were transferred to reserves. The team won the IPL Trophy for the 4th time. Expenses were higher due to the tournament being held in two stages and overseas. The company is planning a High-Performance Centre on its land at Navallur and submitted a bid for a franchise in the T20 domestic league conducted by Cricket South Africa, which was granted. During the year, Superking Ventures Private Limited (SVPL) was incorporated as its wholly owned subsidiary on 15.02.2022 and has not commenced operations till 31.03.2022. The company has adequate internal financial controls and has implemented a risk management policy. There were no material changes and commitments affecting the financial position of the Company, and the annual return is available on the company website. No public deposits were accepted. Sri R. Srinivasan retires by rotation. The Board approved the reappointment of Sri K.S Viswanathan as Wholetime Director. An independent director's statement on meeting independence criteria was received. The report also includes statements on Directors' Responsibility, Personnel (number of board meetings), Key Managerial Personnel, Audit Committee, Auditors (Brahmayya & Co. appointed), and Corporate Social Responsibility (CSR). **Annexures to the Directors' Report** Annexure 1 details the Annual Report on Corporate Social Responsibility (CSR) Activities for 2021-22. The company has a CSR policy focused on supporting and developing communities and nurturing the environment. The average net profit of the company as per section 135(5) was ₹10110.82 Lakhs, with a total CSR obligation of ₹202.22 Lakhs for the financial year. The company spent ₹202.80 Lakhs on CSR projects, with a focus on promoting healthcare and disaster management. Annexure 2 contains the Secretarial Audit Report for the financial year ended March 31, 2022, by P R Sudha, Company Secretary. The report states that the company has complied with the statutory provisions listed, maintains proper board processes, and has a duly constituted Board of Directors. **Independent Auditor's Report** Brahmayya & Co., Chartered Accountants, issued an independent auditor's report with an unmodified opinion on the financial statements. The auditors have expressed an unmodified opinion on the adequacy and operating effectiveness of the Company's internal financial controls over financial reporting. The report includes Annexure A, a statement on the matters specified in paragraphs 3 and 4 of the Companies (Auditor's Report) Order, 2016. **Financial Statements** The balance sheet as at March 31, 2022, and the statement of profit and loss for the year ended March 31, 2022, are presented. Key figures from the balance sheet include total shareholders' funds of ₹24,824.02 Lakhs, non-current liabilities of ₹36.84 Lakhs, and current liabilities of ₹14,172.00 Lakhs. Total assets equal total equity and liabilities at ₹39,032.86 Lakhs. Key figures from the statement of profit and loss include total revenue of ₹34,914.26 Lakhs, total expenses of ₹30,781.07 Lakhs, and profit after tax of ₹3,212.49 Lakhs. The cash flow statement for the year ended March 31, 2022, is presented, showing cash flow from operating activities, investing activities, and financing activities. Net increase in cash and cash equivalents was ₹1,355.39 Lakhs. Notes on Accounts provide detailed information on various aspects of the financial statements, including corporate information, accounting policies, share capital, reserves and surplus, long-term borrowings, deferred tax liabilities, long-term provisions, trade payables, and other current liabilities. The notes also cover revenue from operations, finance costs, other expenses, earnings per share, capital commitments, contingent liabilities, effective tax rate, and expenditure in foreign currency.

Chennai Super Kings (CSK) Shares

The 2021 Annual Report of Chennai Super Kings Cricket Limited covers the financial year ended March 31, 2021. The 7th Annual General Meeting was scheduled for September 18, 2021, to be held via video conferencing. **Company Information and Directors:** The Board of Directors includes Sri R. Srinivasan (Chairman), Sri K.S. Viswanathan (Wholetime Director & CEO), Sri L. Sabaretnam (Till 24.04.2021), Sri Rakesh Singh, Sri PL. Subramanian, Sri B. Kalyanasundaram, Sri K. Ramgopal, and Smt. E. Jayashree. The auditors are Messrs Brahmayya & Co. **Notice to Shareholders and AGM Agenda:** The notice to shareholders announces the Seventh Annual General Meeting to transact both ordinary and special business. Ordinary business includes adopting the audited financial statements for the year ended March 31, 2021, and re-appointing Sri Rakesh Singh as a Director. Special business includes re-appointing Sri K. Ramgopal as an Independent Director for a second term (February 5, 2021 to February 4, 2024) and re-appointing Sri K.S. Viswanathan as Wholetime Director & CEO for two years effective January 19, 2021, along with setting his remuneration. The remuneration for Sri K.S. Viswanathan includes a consolidated salary of ₹6,75,000 per month, ₹44,000 for house rent allowance, and ₹1,44,500 for other allowances, plus reimbursement of medical expenses up to ₹1,80,000 per annum. Even in case of inadequate profits, he will receive the specified remuneration as minimum remuneration. The Board can enhance his remuneration, not exceeding 10% per annum. The meeting is conducted virtually, and the notice details procedures for e-voting and participation, providing instructions for shareholders holding shares in physical and dematerialized form, including necessary website links and contact information for assistance. The register of members will be closed from September 12, 2021, to September 18, 2021. **Directors' Report and Financial Performance:** The Directors' Report presents the audited accounts for the year ended March 31, 2021. Due to the COVID-19 pandemic, the IPL season XIII was held in the UAE during September-November 2020. Season XIV, which commenced on April 9, 2021, was suspended on May 2, 2021, and is rescheduled to resume in the UAE from September 19, 2021. The drop in revenue and profit is attributed to the pandemic. Key financial results (₹ in Lakhs) are: * Total Revenue: 25369.86 (2021) vs 35653.61 (2020) * Profit/(Loss) Before Tax: 5919.85 (2021) vs 6725.12 (2020) * Profit/(Loss) After Tax: 4026.22 (2021) vs 5033.75 (2020) No dividend was declared to conserve resources, and no amounts were transferred to reserves. The company maintains adequate internal financial controls and has a risk management policy. The report confirms compliance with Section 188 of the Companies Act, 2013 regarding related party transactions, with the exception of the remuneration paid to the Wholetime Director, and notes that the company does not have any subsidiaries, associates or joint ventures. Sri Rakesh Singh is retiring by rotation and is eligible for re-appointment. Sri K.S. Viswanathan's re-appointment as Wholetime Director for a further two years was approved, subject to shareholder approval. Sri K. Ramgopal's re-appointment as an Independent Director is also subject to shareholder approval. The Board condoled the death of Sri L. Sabaretnam, former Chairman of the Company. The Directors' Responsibility Statement confirms adherence to accounting standards and proper maintenance of records. There was no employee remuneration exceeding prescribed limits. The company has complied with the Sexual Harassment of Women at Workplace Act, 2013. Six Board meetings were held during the year. **Other Key Points:** * Sri K.S. Viswanathan is the Key Managerial Personnel, designated as Chief Executive Officer. * The Audit Committee consists of Sri R. Srinivasan, Sri K. Ramgopal, and Sri B. Kalyanasundaram. * M/s. Brahmayya & Co. are the Statutory Auditors. * A report on Corporate Social Responsibility (CSR) activities is provided. * A vigil mechanism is in place for reporting genuine concerns. * Messrs Capri Assurance and Advisory Services are the internal auditors. * Smt. P.R. Sudha is the Secretarial Auditor. * Annexure 1 provides details of Corporate Social Responsibility (CSR) Activities during the year including CSR policy, composition of committee, and details of CSR spending. * Annexure 2 contains the Secretarial Audit Report, which confirms compliance with various acts, rules and regulations. **Financial Statements & Auditor's Report** The balance sheet as of March 31, 2021, shows total equity and liabilities of ₹31,622.11 Lakhs. Key items include Share Capital of ₹308.15 Lakhs and Reserves and Surplus of ₹21,303.38 Lakhs. The auditor's report, included, contains an unmodified opinion on the financial statements. They also express an unmodified opinion on the company's internal controls. **Additional Information** The annual report also mentions the steps to be taken by the shareholders for e-voting, and instructions for joining virtual meetings. The voting rights of shareholders shall be in proportion to their shares of the paid-up equity share capital as of the cut-off date i.e. 11.09.2021. The instructions to shareholders for e-voting and joining virtual meetings are clearly elaborated.