Schneider Electric President Systems Unlisted Shares

Annual Report Summary

GROWTH

Overview: The document is the 2020-2021 annual report for Schneider Electric President Systems Limited, focusing on financial statistics, board activities, and compliance matters.

Board of Directors & Corporate Information:

• Lists the Board of Directors with their designations (Chairman, Non-Executive Directors, Whole-Time Director) and mentions that brief profiles are available on the company website.
• Details the various committees of the Board: Audit Committee, Nomination and Remuneration Committee, Corporate Social Responsibility Committee, Stakeholders Relationship Committee, and Finance Committee, along with their members.
• Provides contact information for Statutory Auditors (S.R. Batliboi & Associates, LLP), Cost Auditors (Rao Murthy & Associates), Registrar & Share Transfer Agent (Universal Capital Securities Pvt Ltd), Registered Office, and Corporate Office.

Financial Statistics (31.03.2021 vs 31.03.2020):

• Total Income: Increased from INR 2,151.32 million to INR 2,536.02 million.
• EBITDA: Increased from INR 98.79 million to INR 242.44 million.
• Profit after Taxation: Significantly increased from INR 14.30 million to INR 143.76 million.
• Tangible Assets: Increased slightly from INR 302.14 million to INR 303.45 million.
• Presents a detailed breakdown of assets, liabilities, and equity, comparing figures from March 31, 2021, to previous years. Key financial ratios like EBITDA % to Net Product Sales and Return on Net Worth are also provided.

Notice of Annual General Meeting (AGM):

• Announces the 37th AGM will be held on September 20, 2021, via video conferencing.
• Outlines ordinary business matters to be addressed, including adoption of financial statements, re-appointment of Mr. Sugata Sircar as Director, and appointment of Statutory Auditors (S.N. Dhawan & Co. LLP replacing S.R. Batliboi & Associates LLP).
• Details special business including the appointment of Mr. Sachin Bhalla as a Non-Executive Director, ratification of Cost Auditors’ remuneration, and approval to participate in the Worldwide Employee Share Ownership Plan (WESOP).
• Explains the process for participating in the AGM through VC/OAVM and e-voting, including instructions for members with unregistered email IDs and those facing technical difficulties.
• Sets the "Cut-off Date" of Monday, September 13, 2021 for remote e-Voting and e-Voting at the 37th AGM.

Board's Report:

• Presents the 37th annual report summarizing the company's performance, dividend decisions, and board-related matters.
• States that the Net Sales Turnover increased by 18% over the previous year.
• The Board decided not to recommend dividends.
• Discusses the appointment of Sachin Bhalla as Additional Director and the re-appointment of Sugata Sircar.
• Mentions Board meetings, criteria for independence, and evaluation processes.
• Provides details on board committees (Audit, Nomination & Remuneration, CSR, Stakeholders Relationship, Finance) and their composition.

Auditors' Reports:

• Includes the Independent Auditor's Report with a qualified opinion due to unreconciled trade payables, along with an emphasis of matter concerning litigation with SEBI.
• Contains the Secretarial Audit Report with qualifications regarding delays in form filings, remuneration disclosures, and chairman authorization.
• Features the management's response to the Secretarial Audit Report's observations.

Other Key Points from the Board's Report:

• Explains policies on remuneration, risk management, and CSR activities.
• Describes the procedures for internal audit and internal financial controls.
• Discusses conservation of energy, technology absorption, and foreign exchange earnings and outgo.
• Addresses the status of equity shares and related issues with SEBI, including ongoing litigation.
• Includes details of related party transactions, disclosure on remuneration, and Directors' Responsibility Statement.
• Offers general information on investor-related matters, dematerialization of shares, and electronic communication.

Annexures:

• Annexure I: Annual Report on CSR activities.
• Annexure II: Secretarial Audit Report.
• Annexure III: Conservation of Energy, Technology absorption and Foreign Exchange Earnings and Outgo.
• Annexure IV: Disclosure on remuneration.
• Annexure V: Details of Directors.

CSR Activities for FY 2020-2021:

• Includes brief outline on the CSR Policy of the Company.
• Discloses a CSR amount spent of 3,542,336 INR, and provides details of spent amounts for various activities such as natural disaster relief, electrician support, PM care fund, and ex gratia to employees on COVID relief.
• Reports on the composition of the CSR Committee, number of meetings held and attended.

Conclusion: The document serves as a comprehensive overview of the company's performance, governance, and compliance activities during the fiscal year 2020-2021. It highlights growth in revenue and profit, ongoing legal matters, and the company's commitment to corporate social responsibility and ethical governance.