ESDS Unlisted Shares Annual Reports

ESDS Unlisted Shares

Annual Report ESDS Software Solution Limited's annual report for the financial year 2023-2024 includes key information about the company's performance, board of directors, financials, and compliance. Corporate Information: * The Board of Directors includes Mr. Piyush Somani as Chairman-cum-Managing Director, Ms. Komal Somani as Whole Time Director, and Mr. Alipt Sharma as Nominee Director. Independent Directors are Mr. Dhandapani T. G., Ms. Pamela Kumar, and Mr. Venkatesh Natarajan. * Mr. Nadukuru Sita Ramaiah is the Chief Financial Officer, and Mr. Prasad Deokar is the Company Secretary. * The registered office is located in Nashik, while the corporate office is in Navi Mumbai, Maharashtra. * Auditors are M/s. Shah Khandelwal Jain & Associates, and Internal Auditors are M/s. Kirtane & Pandit LLP. * Axis Bank Limited and IndusInd Bank are the bankers, and Piramal Trusteeship Services Private Limited is the Debenture Trustee. Promoter Information: * Piyush Prakashchandra Somani, the Promoter, holds 2,68,52,696 Equity Shares, representing 28.91% of the company's issued capital. * He has over 17 years of experience in the information technology sector and is on the board of ESDS's subsidiaries. Board of Directors: * Profiles of each director are provided, detailing their qualifications, experience, and roles within the company. * Mr. Venkatesh Natarajan was appointed as an Additional Director, Non-executive Director (Independent) on July 1, 2023. His appointment was confirmed by the shareholders on September 30, 2024. * Ms. Komal Somani will retire by rotation at the upcoming AGM and is eligible for re-appointment. * The Key Managerial Personnel are Mr. Piyush Somani, Ms. Komal Somani, Mr. Nadukuru Sita Ramaiah, and Mr. Prasad Deokar. * There have been no changes in management after March 31, 2024. Financial Performance (FY 2023-24): * Total Receipts/Gross Sales and Operating Income: ₹2,870.05 million (Standalone), ₹2,921.36 million (Consolidated) * Profit Before Depreciation, Tax, and Exceptional Items: ₹755.18 million (Standalone), ₹761.09 million (Consolidated) * Profit/(Loss) Before Tax & Exceptional Items: ₹260.78 million (Standalone), ₹235.57 million (Consolidated) * Earnings per Equity Share (EPS): ₹1.77 (Basic and Diluted - Standalone), ₹1.35 (Basic and Diluted - Consolidated) * Revenue from STPI increased by approximately 203% due to increased consumption. Revenue from IGR-LR also increased substantially. The MPPKVCL project started generating full-fledged revenue. * New orders (TCV) included ₹24.09 Crores from the Mohali Data Centre and others from IGR-LR, Energy Efficiency Services Ltd, MCGM, Maharashtra State Co-operative Bank, and Netlink Software. * A project worth Rs.6.64 Crores was received from Accenture Solutions. * An extension of Contract from SJVN Limited amounted to Rs.7.65 Crores in FY 24. * The Company is in process of delivering STPI Phase III Project in FY 25 which will substantially increase revenue annually by Rs.10.74 Crore. * Total Contract value has been over Rs.175 Crores in FY 24. * The Company achieved the highest collection from April 2023 to March 2024, totaling Rs. 260.44 Crores. * Other Key Metrics (% Change): EBITDA (101.35%), PBT (220.51%), PAT (209.67%), BEBT (15.13%), DEBT/EBITDA Ratio (57.85%), RoE (200.99%). * Authorised Share Capital: ₹460 million. Paid-up Equity Share Capital: ₹9,28,94,185. * The Company had allotted 750 unlisted, secured, 10%, Non-Convertible Debentures (“NCDs”) of Rs.10 Lakhs each amounting to Rs.75 Crore for the tenure of 7 years during FY 2022-23. Other Key Points: * The Board did not recommend any dividend. Profits are retained for project investments. * No amount transferred to the General Reserve. However, a Debenture Redemption Reserve of ₹75 million has been created. * Mandatory Committees have been formed in accordance with IPO and SEBI regulations, including Audit, Nomination and Remuneration, Stakeholders' Relationship, Corporate Social Responsibility, and Risk Management Committees. * The Company has 4 subsidiaries (2 Indian and 2 Foreign). * The company website has hosted policies and codes of conduct. * The Board consists of 2 Executive Directors and 4 Non-Executive Directors, of which 3 are Independent Directors. * Changes in the Board include Mr. Venkatesh Natarajan's appointment as an Independent Director in July 2023. * The non-executive independent directors had no pecuniary relationship or transactions with the Company, other than sitting fees, commission, reimbursement of expenses for attending meetings of the Board and its Committees. * The Key Managerial Personnel as of March 31, 2024, were Mr. Piyush Somani, Ms. Komal Somani, Mr. Nadukuru Sita Ramaiah, and Mr. Prasad Deokar. * The Board met 6 times during the year. * The Directors affirmed their responsibility regarding financial statements. * A policy for Familiarisation Programmes for Independent Directors is in place and hosted on the company website. * Statutory Auditors are M/s. Shah Khandelwal Jain & Associate, and there were no instances of fraud reported by them. The Auditors' Report on Standalone and Consolidated Financial Statements does not contain any qualification, reservation or adverse remark. * The Company's internal financial control system is adequate and commensurate with its size and nature of business. * The Company has a Whistle Blower Policy compliant with Section 177 (10) of the Companies Act, 2013 and Regulations 22 of the SEBI (LODR) Regulation 2015. * The Company has a Risk Management Policy, and no risks affect the Company's operations on a going concern basis. * The Company has complied with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. No complaints were received during the year. * The Company follows best practices for Corporate Governance, although not listed. * The Company has duly constituted a Corporate Social Responsibility Committee and spent over the required amount of Rs.1.80 Lakhs on CSR activities for FY 2023-24. * The Company promotes eco-friendly and green initiatives. * ESDS is an innovation-driven company with its own R&D team. * There are no employees drawing salary in excess of the limits specified u/s 197 of the Act. * The Company has an Employee Stock Option Scheme – ESDS ESOP 2021. * The Company's plant, property, equipment, and stocks are adequately insured. * The Company is in compliance with Secretarial Standards issued by the Institute of Company Secretaries of India. Report on Corporate Governance: * ESDS is committed to high standards of Corporate Governance and aims to maintain transparency and ethical standards. * The Board of Directors is composed of qualified individuals with expertise, skills, and experience. * The Board Meetings are governed by a structured agenda, and decisions are backed by comprehensive information. * The Company has constituted various committees like Audit, Nomination and Remuneration, Stakeholders Relationship, Corporate Social Responsibility and Risk Management Committee. Audit Committee: * The audit committee ensures the integrity of financial reporting and compliance. * The details terms of references and composition of the Committee are provided. * The members of the Audit Committee duly meet five times. Nomination and Remuneration Committee: * The Nomination and Remuneration Committee formulates criteria for determining qualifications and remuneration of directors and key managerial personnel. Risk Management Committee: * The Company has constituted Risk Management Committee of Directors to monitor various risks and initiate action for mitigation of risk arising in the operations. * A process to continuously monitor the existing controls and identify gaps, if any, and implement new and /or improved controls wherever the effect of such gaps would have a material effect on the Company's operations. * A Corporate Social Responsibility Committee has been constituted and Rs.1.80 Lakhs was spent towards corporate social responsibility. * Independent Directors have meetings annually and discussed the performance of Board of Directors. Other Disclosures: * There have been no materially significant related party transactions. * No non-compliance by the Company, penalties and strictures imposed. * The company has implemented a Whistle Blower Policy and is availing its vigil mechanism. General Shareholder Information: * Annual General Meeting: Monday, 30th September, 2024 at 11:00 a.m. * The annual report is sent by email to all the Shareholders of the Company who have registered email ID with Depository or RTA /Company. * Registrars and Transfer Agents: Link Intime India Private Limited * 9,28,94,185 Equity shares are held in the electronic mode as on 31th March 2023. The report also includes standalone and consolidated financial statements, auditor's reports, and other relevant annexures. The report acknowledges the support of various government bodies, business constituents, and investors.

ESDS Unlisted Shares

The annual report of ESDS Software Solution Limited for the financial year 2022-2023 includes key highlights, financial performance, and corporate governance aspects. The report begins with corporate information including the Board of Directors (Mr. Piyush Somani as Chairman and Managing Director, Ms. Komal Somani as Whole Time Director, and others) and registered and corporate office addresses. Mr. Piyush Prakashchandra Somani is identified as the Promoter, holding 28.91% of the company's equity shares. **Chairman's Message:** The chairman, Mr. Piyush Somani, emphasizes relentless innovation at ESDS. Noteworthy achievements in FY 2023 include technological advancement in cloud services, managed services and security services. Infrastructure management product eNlight 3600 secured an India patent to compliment its US and UK patents. Introduction of a cutting-edge Low Code No Code application development platform and launch of data centers in Mohali and Navi Mumbai are some other key achievements. **Financial Results:** The financial performance for the year ended March 31, 2023 is summarized. The company's total receipts/ gross sales and operating income stood at ₹2,058.94 million for standalone and ₹2,122.42 million for consolidated. The profit before depreciation, tax, and exceptional items was ₹301.93 million (standalone) and ₹262.26 million (consolidated). However, after accounting for depreciation and amortization expenses, the company faced a loss before tax & exceptional items. The company has received orders over Rs.175 Crores in FY23. Multiple awards and recognitions were received during the year including GovConnect 8th Digital Transformation Conclave Honoured ESDS Software Solution Ltd, "Most Preferred and Trusted Cloud Service Provider" at the ET Achiever's Award 2022, Seceon Networks recognized ESDS Software Solution Ltd. as Most valued MSSP Partner, Komal Somani recognized as one of the 100 Inspirational leaders of Asia, and more. Business operations revenue increased by 4.21% to ₹2,013.71 million due to increased cloud hosting and managed services. Gross Fixed Assets & Intangible Assets stood at ₹3100.29 Million. Employee benefit expenses increased by 8.73% to ₹739.86 million due to increase in employee numbers, salaries, wages and bonuses. Cash balance decreased to ₹157.72 million. The Authorised Share Capital of the Company stood at ₹460 million. The company had fully pre-redeemed the NCDs on May 25, 2022. **Other/Debt Securities:** During FY 2022-23, the company allotted 750 unlisted, secured, 10% Non-Convertible Debentures of ₹10 Lakhs each (amounting to ₹75 Crore) to Piramal Structured Credit Opportunities Fund, managed by Piramal Asset Management Private Limited, on private placement basis. Piramal Trusteeship Services Private Limited is the Debenture Trustee. The Board of Directors has not recommended any dividend on equity shares, retaining profits for project investment. **Other Key Points:** * No amount was transferred to the General Reserve. A Debenture Redemption Reserve of ₹75 Million was created. * Mandatory committees were constituted including Audit, Nomination and Remuneration, Stakeholders' Relationship, Corporate Social Responsibility, and Risk Management Committees. * The company has four subsidiaries (2 Indian and 2 Foreign). * The Board of Directors comprises Executive, Non-Executive, and Independent Directors. * There were changes in Directors during the year, with resignations and appointments of key personnel. * The company has a Whistle Blower Policy and a Risk Management Policy. * The company has in place the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. **Corporate Governance:** The report on Corporate Governance forms an integral part of the report. ESDS is committed to high standards of corporate governance. The composition of the Board of Directors includes Executive, Non-Executive, and Independent Directors. Details on Board meetings, committees, and policies are included. The company has established a Corporate Social Responsibility (CSR) policy and spent over the required amount on CSR activities in FY 2022–23. The Company's statutory auditors are M/s. Shah Khandelwal Jain & Associate. The Company is in compliance with applicable Secretarial Standards, issued by the Institute of Company Secretaries of India. The Company thanks the Government of India, stakeholders, and its employees. **Annexures:** The annual report includes several annexures providing further details on financial statements (standalone and consolidated), corporate social responsibility, and secretarial audit.

ESDS Unlisted Shares

The document provided is the annual report for the financial year 2021-2022 of ESDS Software Solution Limited. The report includes: **Corporate Overview:** * ESDS Software Solution Limited is engaged in IT-enabled services and supply of IT-enabled products. * The company's registered office is in Nashik, with operations in Nashik, Mumbai, and Bengaluru. * Piyush Prakashchandra Somani is the Chairman-cum-Managing Director and Komal Somani is a Whole-Time Director. * The company had initiated the process for an Initial Public Offering (IPO) with SEBI approval received on December 6th, 2021, to raise up to ₹3,220 million. Axis Capital Limited and IIFL Securities Limited were the book-running lead managers. **Financial Performance (FY 2021-22):** * Total Receipts/Gross Sales and Operating Income: ₹1,978.97 million (Standalone), ₹1,986.91 million (Consolidated). * Profit Before Depreciation, Tax, and Exceptional Items: ₹487.40 million (Standalone), ₹443.02 million (Consolidated). * Profit/Loss After Tax: ₹21.95 million (Standalone), ₹(26.62) million (Consolidated). The consolidated result reflects a loss after tax. * Basic Earnings Per Share (EPS): ₹0.26 (Standalone), ₹(0.27) (Consolidated). * Revenue from operations increased by 12.39% to ₹ 1,932.34 million in Fiscal 2022 from ৳ 1,719.27 million in Fiscal 2021. * Employee benefit expenses increased by 17.37 % to ₹ 680.41 million in Fiscal 2022 from ₹ 579.69 million in Fiscal 2021. * The Company's cash balance increased to ৳ 340.32 million from previous year's ৳ 138.24 million. **Projects and Services:** * Existing customers like L&T, EDF, and Tech Mahindra scaled up their businesses with ESDS, increasing revenue recognition in FY-22. * New orders from CERT-In and MEA delivered ₹17 Crore revenue in FY-22 and projected to deliver a minimum of ₹14 Crore in the next financial year. * Other enterprise orders, including PFC, were delivered and revenue recognition started. * The company is on track to exceed monthly billings of ₹30 Crore in September 2022, compared to ₹15 Crore in September 2021. * Key technologies shaping the “Digital Transformation of India" include Cybersecurity, Machine Learning and Artificial Intelligence, Cloud Computing, Simulation and System Integration, Big Data and Analytics, Autonomous Robots, Augmented Reality and Internet of Things. * Key cloud offerings include eNlight Cloud (patented vertically auto-scalable cloud), eMagic (data center management suite), VTMscan (vulnerability scanner), eNlight WAF (web access firewall), Web VPN (secure connectivity), eCOS (object storage), eNlight IoT (IoT platform), eNlight Meet (virtual meetings), eNlight SIEM (incident and event management), AA+ (AI lung disease detection), eNlight DRM (disaster recovery), and eNlight360 (hybrid cloud orchestration). * The company offers G-SaaS (Government SaaS) and smart city cloud solutions. The company operates four data centers in India in Navi Mumbai, Nashik, Bengaluru and Mohali. The data centers have maintained uptime of at least 99.995%. **Awards and Recognitions:** * Aegis Graham Bell Award for "Combat Covid19 with Artificial Intelligence." * India Patent for Vertical Auto-scalability in Cloud Comp. * Piyush Somani: "Most Promising Business Leaders" of Asia 2022 award by ET Edge. * Komal Somani: CMO of the year award at the 20th Star Nite Award 2021 by VARINDIA and recognition as one of the 100 Inspirational Leaders of Asia by White Page International. **Corporate Governance & Compliance:** * The company has implemented mandatory committees as per SEBI (ICDR) regulations. These include Audit, Nomination and Remuneration, Stakeholders' Relationship, Corporate Social Responsibility, and Risk Management Committees. * Mrs. Sarla Somani resigned as a Director effective July 28th, 2021. Several Additional Directors (Independent) were appointed. * The board met 16 times during the year. * The company has complied with Secretarial Standards issued by the Institute of Company Secretaries of India. * The company has a whistle blower policy and a risk management policy in place. The company has a Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 policy. * The company directors confirm adherence to applicable accounting standards. **Share Capital & Debt:** * Stock split was approved, changing face value from ₹10 to ₹1 per share. * Conversion of CCCPS into equity shares. * Allotment of 70,00,000 equity shares to existing shareholders on a rights basis. * Allotment of 300 unrated, unlisted, secured, 12% Non-Convertible Debentures ("NCDs") of ₹ 1 Million each amounting to ₹ 300 Million for a tenure of 1 years 1 month during FY 2021-22. The company fully pre-redeemed the NCDs on May 25, 2022. **Dividend:** * Dividend declared at the rate of 0.01% per CCCPS of face value of ₹ 100/- each for the Financial Year 2018-19, 2019-20 and 2020-21. **Future Prospects (ESDS's 4Bs by 2024):** * Touch 1B+ People by 2024. * Connecting 1B+ Smart Devices by 2024. * Becoming a $1B Enterprise by 2024. * Planting 1B+ Trees by 2024. **Internal Audit & Controls:** * Adequate internal control system in place, including the appointment of independent Internal Auditors and a whistle blower policy. * The company's auditors were M/s. Shah Khandelwal Jain & Associates, Chartered Accountants, Pune. The secretarial audit was conducted by M/s. S. R. Khandelwal & Co., Practising Company Secretaries, Pune. **Other Highlights:** * The company maintains comfortable cash balances. * No deposits were accepted from the public. * Details of related party transactions and director remuneration are disclosed. * Particulars of energy conservation, technology absorption, and foreign exchange earnings and outgo are detailed. * Details of employee stock option schemes (ESOS) are provided. 1,010,500 equity shares were allotted to AGSTTL Employees Welfare Trust (ESOP Trust) during the financial year ended March 31, 2022 * Details of loans, investments, guarantees and subsidiaries are referred in the standalone financial statements. * Corporate Social Responsibility: The Company was required to spend Rs.3.80 million on CSR activities for FY2021-22 and the Company had spent entire amount during FY2021-22.

ESDS Unlisted Shares

ESDS Software Solution Private Limited Unaudited Standalone Balance Sheet as at March 31, 2021, details the equity and liabilities along with the assets of the company. **Equity and Liabilities:** * Shareholders' funds total 1,54,25,67,389, comprising share capital of 36,04,39,500 and reserves and surplus of 1,18,21,27,889. * Non-current liabilities amount to 1,60,38,75,755 and include long-term borrowings (42,37,23,083), lease liability (88,27,58,567), deferred tax liabilities (net) (10,15,88,043), long-term provisions (7,25,58,463), and capital creditors (12,32,47,600). * Current liabilities total 1,50,57,21,047 and include short-term borrowings (34,97,47,842), trade payables (23,12,83,655), other current liabilities (92,05,91,604), and short-term provisions (40,97,945). * The total Equity and Liabilities sum up to 4,65,21,64,192. **Assets:** * Non-current assets total 3,22,70,99,631 and include tangible fixed assets (2,17,02,83,708), intangible fixed assets (37,02,817), capital work in progress (80,93,34,469), Right to Use Lease Asset, non-current investments (3,61,128), long-term loans and advances (17,30,38,145), and other non-current assets (7,03,79,364). * Current assets total 1,42,50,64,561 and include trade receivables (50,67,83,147), cash and bank balances (13,82,38,589), short-term loans and advances (66,00,74,464), and other current assets (11,99,68,361). * The total assets also sum up to 4,65,21,64,192. **Statement of Profit and Loss:** The Unaudited Standalone Statement of Profit and Loss for the period ended March 31, 2021, provides the following details: * Revenue from operations is 1,71,81,49,717, and other income is 3,20,00,656, making the total revenue 1,75,01,50,373. * Total expenses are 1,72,31,97,260 including employee benefits expense (60,25,57,450), finance costs (20,04,86,226), depreciation and amortisation (44,79,50,171) and other expenses (47,22,03,413). * Profit before tax is 2,69,53,113. * Profit for the year is 2,69,53,113. **Share Capital Details:** * The authorized share capital includes 1,99,85,000 equity shares of Rs 10 each (amounting to 11,50,00,000), optionally convertible preference shares, 30,00,000 0.01% Compulsory Convertible Preference shares of Rs 100 each (amounting to 30,00,00,000), and 2,00,000 16% Compulsory Convertible Preference shares of Rs 100 each (amounting to 2,00,00,000). * The issued, subscribed, and paid-up capital includes 52,22,100 equity shares of Rs 10 each fully paid up (amounting to 5,22,21,000), 30,81,143 0.01% Compulsory Convertible Preference shares of Rs 100 each fully paid up (amounting to 29,19,34,300), and 1,62,842 16% Compulsory Convertible Preference shares of Rs 100 each fully paid up (amounting to 1,62,84,200). **Reserves and Surplus:** * The reserves and surplus include a securities premium account (71,73,51,791), a capital redemption reserve (35,82,000), and surplus in the statement of profit and loss (46,11,94,098) after adjustments for transfer to capital redemption reserve and proposed dividends. **Long-term Borrowings:** * Long-term borrowings total 42,37,23,083, including secured term loans from banks and financial institutions, vehicle loans, and unsecured term loans from financial institutions, net of current maturities. **Deferred Tax Liabilities (net):** * The deferred tax liabilities are related to the impact of the difference between tax depreciation and depreciation/amortization charged in the financial statements. **Long-term provisions:** * Long-term provisions include provisions for employee benefits like gratuity and compensated absences, totaling 7,25,58,463. **Short-term Borrowings:** * Short-term borrowings include secured loans repayable on demand (working capital loans from banks) and unsecured debentures and loans from promoters, totaling 34,97,47,842. **Trade Payables:** * Trade payables amount to 23,12,83,655. **Other Current Liabilities:** * Other current liabilities include current maturities of long-term debt, interest accrued on borrowings, accrued employee liabilities, statutory liabilities, unearned revenue, advances from customers, capital creditors, other payables and provision for expenses and proposed dividend on preference shares totaling 92,05,91,604. **Short-term Provisions:** * Short-term provisions include provisions for employee benefits (gratuity and compensated absences) totaling 40,97,945. **Non-current Investments:** * Non-current investments are valued at cost and are unquoted and non-trade, comprising investments in ESDS Internet Services Private Limited, investment in mutual funds, and investment in equity shares of ESDS Global and ESDS Cloud FZ LLC, totaling 3,61,128. **Long-term Loans and Advances:** * Long-term loans and advances, considered good unless otherwise stated, include security deposits and advance tax and tax deducted at source (net of provision) and MAT credit receivable, totaling 17,30,38,145. **Other Non-current Assets:** * Other non-current assets include bank deposits (due to mature after 12 months from the reporting date), totaling 7,03,79,364. **Trade Receivables:** * Trade receivables are unsecured and considered good unless otherwise stated. Outstanding amounts exceeding six months are 6,40,51,426, and outstanding amounts less than six months are 44,27,31,721. **Cash and Bank Balances:** * Cash and bank balances include balances with banks on current accounts, totaling 13,82,38,589. **Short-term Loans and Advances:** * Short-term loans and advances to parties other than related parties include balances with statutory/Government authorities, security deposit, advances to creditors, capital advance, advances to employees, prepaid expenses, unbilled revenue, other receivables, loan to subsidiary, and other loans and advances, totaling 66,00,74,464. **Other Current Assets:** * Other current assets include term deposits with maturity of less than 3 months from the reporting date, term deposits due to mature beyond 3 months but within 12 months of the reporting date, and interest accrued, totaling 11,99,68,361. **Revenue from Operations Details:** * Revenue from operations includes sale of services (web hosting services, turnkey contract revenue, and technical support services) and other operating income, totaling 1,71,81,49,717. **Other Income:** * Other income includes interest received on deposits with banks, interest from others, profit on sale of fixed assets (net), other non-operating income, and foreign exchange fluctuation (gain)/loss (net), totaling 3,20,00,656. **Employee Benefits Expense:** * Employee benefits expense includes salaries, wages and bonus, contribution to provident and other funds, gratuity, compensated absence, and other employee-related costs, totaling 60,25,57,450. **Finance Costs:** * Finance costs include interest expense, interest expense - others, interest expense - debentures, other borrowing costs, and bank charges, totaling 20,04,86,226. **Depreciation and Amortisation:** * Depreciation and amortisation includes depreciation of tangible fixed assets and amortisation of fixed assets, totaling 44,79,50,171. **Operating and Other Expenses:** * Operating and other expenses include contract costs for data center setup, rent, office expenses, travelling and conveyance, communication expenses, contract labour charges, rates & taxes, legal and professional charges, commission, insurance, advertisement and sales promotion, power and fuel, repairs and maintenance, membership and subscription, bad & doubtful debts - expenses, foreign exchange fluctuation (gain)/loss (net), auditor's remuneration, donations, miscellaneous expenses and Corporate Social Responsibility expenses, totaling 47,22,03,413.