Annual Report Summary
MARKET SIMPLIFIED INDIA LIMITED Standalone Financial Statements Summary (Financial year 2020-2021)
I. General Company Information:
- Company Name: MARKET SIMPLIFIED INDIA LIMITED.
- Corporate Identity Number (CIN): U72900TN2000PLC045869.
- Permanent Account Number (PAN): AAACI7341F.
- Registered Office Address: 13th Floor, Zenith Building, Ascendas International Tech Park, CSIR Road, Taramani, Chennai TN 600113 IN.
- Industry Type: Commercial and Industrial.
- Registration Date: 09/10/2000.
- Category: Company limited by Shares/Non-govt company.
- Listed Company: No.
- Number of Employees (Year-End): 243.
- Sustainability Report Published: No.
- Board Approval of Final Accounts: 30/11/2021.
- Reporting Period: 01/04/2020 to 31/03/2021 (comparative: 01/04/2019 to 31/03/2020).
- Report Nature: Standalone.
- Content: Financial Statements.
- Presentation Currency: INR (Indian Rupees).
- Level of Rounding: Actual.
- Cash Flow Statement Type: Indirect Method.
- Electronic Maintenance of Records: Yes.
- Computer Server Location: 13th Floor, Zenith Building, Ascendas International Tech Park, CSIR Road, Taramani, Chennai TN 600113 IN.
- City: Chennai
- State/Union Territory: Tamil Nadu
- Pin Code: 600113
- District: Chennai
- ISO Country Code: IN
- Country: INDIA
- Phone: 04461703090
II. Principal Products/Services:
- Product/Service Category (ITC 4 digit): 6312 (Web Portals).
- Description of Product/Service Category: WEB PORTALS
- Turnover of Category: 34,13,15,480 INR.
- Highest Turnover Contributing Product/Service (ITC 8 digit): 63122000 (Operation of other websites that act as portals to the Internet, such as media).
- Description of Highest Turnover Product/Service: Operation of other websites that act as portals to the Internet, such as media.
- Turnover of Highest Contributing Product/Service: 34,13,15,480 INR.
III. Directors' Report:
- Directors Signing Board Report:
- VENKATRAMAN SANKAR (Director, DIN: 03562649).
- VINOTH KUMAR KRISHNA NITTALA (Wholetime Director, DIN: 08880293).
- Signing Date: 30/11/2021.
- Other Disclosures in Director's Report: This section indicates various disclosures included in the director's report, including:
- State of company affairs
- Proposed amounts to reserves
- Amount recommended to be paid as dividend
- Energy conservation
- Technology absorption
- Foreign exchange earnings and outgo
- Director’s responsibility statement
- Material changes and commitments affecting financial position
- Loans, guarantee investment under section 186
- Related party transactions under section 188(1)
- Evaluation of board performance
- Extract of annual return under section 92(3)
- Changes in promoter shareholding
- Shareholding pattern of directors and key management personnel
- Declaration by independent directors under section 149(6)
- Information on directors appointment and remuneration under section 178(1)
- Risk management policy
- CSR initiatives
- Financial summary or highlights
- Changes in nature of business
- Appointment or resignation of directors or key managerial personnel
- Details of companies which have become or ceased to be its subsidiaries, joint ventures or associate companies
- Details relating to deposits
- Significant and material orders
- Adequacy of internal financial controls
- Contents of corporate social responsibility policy
- Appointment and remuneration of managerial personnel
- Details of comparison of remuneration of key managerial personnel against performance of company
- Variations in market capitalisation of company
- Average percentile increase in salaries of employees
- Comparison of remuneration of key managerial personnels against performance of company
- Key parameters for any variable component of remuneration availed by directors
- Details of employees of company under rule 5(2) and (3) of companies appointment and remuneration of managerial personnels rules 2014
- Issue of sweat equity shares
- Voting rights not exercised directly by employees
- Equity shares with differential rights
- Composition of audit committee
- Establishment of vigil mechanism
- Policy formulated by nomination and remuneration committee
- Facts of resignation of director
- Report concerns about unethical behaviour
- Employee stock option scheme
- Employee stock purchase scheme
- All these items are specified as "As Per Director Report Notes Attached"
IV. Auditor's Report:
- Auditor Firm: V B S & ASSOCIATES.
- Auditor Signing Report: VARADHACHARI AMMANGI BALAJI.
- Firm Registration Number: 015070S.
- Membership Number: 203390.
- Auditor Address: 7/17, thiyagaraya street, T.Nagar, Chennai 600017
- Auditor PAN: AANFV2173N.
- SRN of form ADT-1: Z99999999.
- Report Signing Dates: 30/11/2021 (Audit report and Balance sheet).
- Details of auditor's qualifications, reservations, or adverse remarks are in report:
- Relating to fixed assets
- Quantitative details of fixed assets
- Physical verification and material discrepancies of fixed assets
- Title deeds of immovable properties
- Relating to inventories
- Relating to loans
- Loans granted to parties covered under section 189
- Terms and conditions of loans granted
- Receipt of loans granted
- Terms of recovery of loans granted
- Compliance with Section 185 and 186 of Companies Act, 2013
- Relating to deposits accepted
- Maintenance of cost records
- Relating to statutory dues
- Regularity in payment of undisputed statutory dues
- Disputed statutory dues
- Relating to default in repayment of financial dues
- Relating to public offer and term loans used for purpose for which those were raised
- Relating to fraud by the company or on the company by its officers or its employees reported during period
- Relating to managerial remuneration
- Relating to Nidhi Company
- Relating to transactions with related parties
- Relating to preferential allotment or private placement of shares or convertible debentures
- Relating to non-cash transactions with directors or persons connected with him
- Relating to registration under section 45-IA of Reserve Bank of India Act, 1934
- All these items are specified as "As Per Auditor Report Attached"
- Whether companies auditors report order is applicable on company: Yes
- Whether auditors' report has been qualified or has any reservations or contains adverse remarks: No
V. Secretarial Audit Report:
- Applicability: No secretarial audit report is applicable on the company.
VI. Balance Sheet Summary (as of 31/03/2021, with comparatives):
- Equity and Liabilities:
- Shareholders' Funds:
- Share Capital: 15,01,73,640 INR (same as previous years).
- Reserves and Surplus: 4,29,50,291 INR (2,13,76,881 INR in 2020).
- Total Shareholders' Funds: 19,31,23,931 INR (17,15,50,521 INR in 2020).
- Non-Current Liabilities:
- Long-Term Borrowings: 0 INR.
- Other Long-Term Liabilities: 0 INR.
- Long-Term Provisions: 1,66,55,133 INR (1,12,32,378 INR in 2020).
- Total Non-Current Liabilities: 1,66,55,133 INR (1,12,32,378 INR in 2020).
- Current Liabilities:
- Short-Term Borrowings: 1,45,77,177 INR (72,11,902 INR in 2020).
- Trade Payables: 1,28,17,782 INR (19,21,287 INR in 2020).
- Other Current Liabilities: 3,16,03,687 INR (2,29,97,746 INR in 2020).
- Short-Term Provisions: 15,69,336 INR (43,13,607 INR in 2020).
- Total Current Liabilities: 6,05,67,982 INR (3,64,44,542 INR in 2020).
- Total Equity and Liabilities: 27,03,47,046 INR (21,92,27,441 INR in 2020).
- Assets:
- Non-Current Assets:
- Tangible Assets: 1,14,56,677 INR (1,16,82,829 INR in 2020).
- Intangible Assets: 1,97,00,239 INR (3,71,73,211 INR in 2020).
- Intangible Assets under Development: 3,80,69,109 INR (2,92,67,592 INR in 2020).
- Total Fixed Assets: 6,92,26,025 INR (7,81,23,632 INR in 2020).
- Non-Current Investments: 1,26,345 INR (same as previous year).
- Long-Term Loans and Advances: 2,12,68,600 INR (1,85,14,000 INR in 2020).
- Total Non-Current Assets: 9,06,20,970 INR (9,67,63,977 INR in 2020).
- Current Assets:
- Current Investments: 0 INR.
- Inventories: 0 INR.
- Trade Receivables: 6,28,16,215 INR (3,89,85,299 INR in 2020).
- Cash and Bank Balances: 1,42,60,171 INR (1,03,70,881 INR in 2020).
- Short-Term Loans and Advances: 8,13,82,840 INR (5,15,63,434 INR in 2020).
- Other Current Assets: 2,12,66,850 INR (2,15,43,850 INR in 2020).
- Total Current Assets: 17,97,26,076 INR (12,24,63,464 INR in 2020).
- Total Assets: 27,03,47,046 INR (21,92,27,441 INR in 2020).
VII. Signatories of Financial Statements:
- VENKATRAMAN SANKAR (Director, DIN: 03562649).
- VINOTH KUMAR KRISHNA NITTALA (Wholetime Director, DIN: 08880293).
- Signing Date: 30/11/2021.
VIII. Cash Flow Statement (Indirect Method):
- Profit Before Tax: 2,98,88,349 INR (3,76,55,974 INR in 2020).
- Adjustments for Depreciation and Amortization: 2,45,73,898 INR (2,01,87,881 INR in 2020).
- Net Cash Flows from Operating Activities: 1,23,42,016 INR (2,15,90,402 INR in 2020).
- Net Cash Flows from Investing Activities: -1,49,45,641 INR (-66,89,724 INR in 2020).
- Net Cash Flows from Financing Activities: 64,92,915 INR (-84,72,874 INR in 2020).
- Net Increase (Decrease) in Cash and Cash Equivalents: 38,89,290 INR (64,27,804 INR in 2020).
- Cash and Cash Equivalents at End of Period: 1,42,60,171 INR (1,03,70,881 INR in 2020).
IX. Share Capital:
- Authorized Share Capital: 2,00,00,000 shares valued at 20,00,00,000 INR.
- Issued, Subscribed & Paid-Up Capital: 1,50,17,364 shares valued at 15,01,73,640 INR.
- Details of Shareholders:
- NSE INVESTMENTS LIMITED: 30.00%
- INDUSAGE MANAGEMENT SERVICES PRIVATE LIMITED: 15.50%
- G Venkat Rangan: 14.70%
- Kumar Krishna Nittala: 6.80%
- No shares were issued during the period.
X. Reserves and Surplus:
- Reserves and Surplus at End of Period: 4,29,50,291 INR (2,13,76,881 INR in 2020).
- Securities Premium Account is at 0 INR
- Changes in Reserves:
- Profit (loss) for period : 2,15,73,410 INR
XI. Borrowings:
- Short-Term Borrowings:
- Secured: 1,39,92,287 INR.
- Unsecured: 5,84,890 INR (71,45,770 INR in 2020).
XII. Tangible Assets:
- Gross Carrying Amount: 6,65,63,198 INR (5,96,88,425 INR in 2020).
- Depreciation: 71,00,926 INR.
- Tangible Assets at End of Period: 1,14,56,677 INR (1,16,82,829 INR in 2020).
XIII. Intangible Assets:
- Gross Carrying Amount: 22,34,62,690 INR (22,34,62,690 INR in 2020).
- Amortization: 1,74,72,972 INR.
- Intangible Assets at End of Period: 1,97,00,239 INR (3,71,73,211 INR in 2020).
XIV. Non-Current Investments:
XV. Provisions:
- Long-Term Provisions: 1,66,55,133 INR (1,12,32,378 INR in 2020).
- Employee Benefits (Gratuity and Leave Encashment).
- Short-Term Provisions: 15,69,336 INR (43,13,607 INR in 2020).
- Employee Benefits (Gratuity and Leave Encashment).
XVI. Loans and Advances:
- Long-Term Loans and Advances: 2,12,68,600 INR (1,85,14,000 INR in 2020).
- Short-Term Loans and Advances: 8,13,82,840 INR (5,15,63,434 INR in 2020).
- Prepaid Expenses:
- Unsecured considered good - 17,28,393 INR (22,88,761 INR in 2020).
-
**Advance Income Tax:**
- Unsecured considered good - 3,18,72,400 INR (4,92,74,673 INR in 2020).
XVII. Trade Receivables:
- Trade Receivables (Gross): 6,28,16,215 INR (3,89,85,299 INR in 2020).
XVIII. Other Current Assets:
- Unbilled revenue: 2,12,66,850 INR (2,15,43,850 INR in 2020).
XIX. Cash and Bank Balances:
- Total Cash and Bank Balances: 1,42,60,171 INR (1,03,70,881 INR in 2020).
XX. Revenue:
- Revenue from Operations: 34,13,15,480 INR (31,28,87,926 INR in 2020).
- Revenue from Services: 34,13,15,480 INR (31,28,87,926 INR in 2020).
- Other Income: 7,30,650 INR (24,84,318 INR in 2020).
XXI. Profit and Loss:
- Profit Before Tax: 2,98,88,349 INR (3,76,55,974 INR in 2020).
- Tax Expense: 83,14,939 INR.
- Profit for the Period: 2,15,73,410 INR (3,76,55,974 INR in 2020).
- Basic/Diluted Earnings Per Share: 1.44 INR (2.51 INR in 2020).
XXII. Employee Benefits Expense:
- 17,15,21,289 INR (16,24,03,261 INR in 2020).
XXIII. Related Party Disclosures:
- Disclosures are provided as per accounting standards.
XXIV. Subsidiary Information:
- Subsidiary is Market Simplified Inc.
- Country of Incorporation: United States
- Percentage of Shareholding: 100.00%
XXV. Corporate Social Responsibility (CSR):
- Provisions of CSR are not applicable to the company.
