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CCS Infotech Ltd.

BSE: 532405 Sector: Consumer
NSE: N.A. ISIN Code: INE661B01019
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CCS Infotech Ltd. (CCSINFOTECH) - Director Report

Company director report

Directors

TO

THE MEMBERS

Your Directors have great pleasure in presenting the Sixteenth Annual Report togetherwith Audited Accounts of the Company for the year ended 31st March 2013 and theAuditors’ Report thereon.

FINANCIAL RESULTS

The stand-alone financial results of CCS Infotech Limited for the year ended March 312013 are presented below:-

(Amount In LAKHS)
Particulars 2012-13 2011-12
Revenue 4378.93 10161.41
Expenditure 4285.61 9976.54
Profit before Tax & Depreciation 93.31 184.87
Depreciation 82.66 97.76
Profit after Depreciation but before tax 10.65 87.11
Current Tax 9.03 24.06
Deferred Tax 0.00 (2.85)
Profit After Tax 1.63 65.90
Reserves & Surpluses 1011.26 1000.61

Your Company has made a turnover of Rs.4378.93 Lakhs as compared to Rs.10161.14 Lakhsof previous year and has made a profit of Rs.1.62 Lakhs compared to Rs.78.30 Lakhsprevious year.

BUSINESS OUTLOOK

Your Company is among India's leading Information Technology Solutions provider havinga wide range of expertise in Systems Integration and e-Governance including HardwareSolutions Software Development and Networking Services and into manufacture of computersand export of IT products from India as an OEM.

Your Company presently has the following divisions:

1. Manufacturing: Your manufacturing Plant is situated at Puducherry and has gotISO 9001:2008 certifications

2. System Integration: Your Company has partnered with leading IT hardwareCompanies and has bagged many System Integration projects.

3. Services AMC/FMS: Your Company is providing AMC/FMS to leading companies indifferent business verticals.

4. Supply Contracts under BOLT/BOOM: Your Company is presently executing supplycontracts under BOLT/BOOM structures for Public Sector Undertakings and working to achievea healthy growth in this segment.

5. E-Governance: Your Company is continuing its services in the E Governance sectorand doing citizen services in Andhra Pradesh and working towards getting new orders.

Our clientele strength has been the key success to our growth. We have a long-termassociation with all our clients and many referral clients are added to clientele year onyear.

FIXED DEPOSITS

Your Company has not accepted any fixed deposit during the year under review.

DIVIDEND

With a view to preserve the liquid resources and enhance shareholders value yourdirectors have not recommended any dividend during the year under report.

SUBSIDIARY COMPANIES

The Company continues to have one Subsidiary i.e. CCS INFOTECH SINGAPORE PTE. LIMITED.As per Section 212 of the Companies Act 1956 the audited Balance Sheet and Profit &Loss statement along with the respective reports of the Board of Directors and theAuditor’s thereon of the Subsidiary Company for the year ended March 2012 areattached. The Statement pursuant to section 212 of the Companies Act 1956 also forms partof annual report.

As per the requirement of AS-21/27 issued by the ICAI your company is pleased topresent the consolidated balance sheet profit and loss account and cash flow statement ofthe Company and its subsidiary.

INSURANCE

All insurable interests of the Company including buildings furniture and fixtures andother insurable interest are adequately insured.

STATUTORY STATEMENTS

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Your Company has activities as detailed below relating to conservation of energy andtechnological absorption as required to be disclosed under Section 217(1)(e) of theCompanies Act 1956 read with the Companies (Disclosure of Particulars in the report ofBoard of Directors) Rules 1988.

A. Conservation of Energy

Energy conservation measures taken: The Company is very careful in using the power toreduce the cost of maintenance and conserve the resources.

Additional investments and proposals if any being implemented for reduction ofconsumption of energy

Nil

B. Technology Absorption and Foreign Exchange earnings & out go:

(Disclosure of Particulars with respect to technology absorption to the extent applicable) 2012-13 2011-12
i. Research & Development (R & D) NIL NIL
ii. Technology Absorption Adaptation and Innovation NIL NIL
iii. Foreign Exchange Earnings NIL NIL
iv. Foreign Exchange Outflow NIL NIL

DIRECTORS-f RESPONSIBILITY STATEMENT

Pursuant to the requirement u/s.217 (2AA) of the Companies Act 1956 with respect toDirectors’ Responsibility Statement your Directors to the best of their knowledge andbelief confirm that:

(i) In the preparation of the annual accounts the applicable Accounting Standards havebeen followed and no material departure has been made from the same.

(ii) They have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give true and fair viewof the state of affairs of the Company at the end of the financial year and of theprofit/loss of the Company for that period;

(iii) They have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act so as to safeguard theassets of the Company and to prevent and detect fraud and other irregularities; and

(iv) They have prepared the annual accounts on a going concern basis.

PARTICULARS OF EMPLOYEES

During the year under review there were no employees covered under Section 217 (2A) ofthe Companies Act 1956 read with the Companies (Particulars of Employees) Rules 1975.

The Board of Directors wishes to express its appreciation to all the employees of theCompany for their outstanding contribution to the operation of Company during the year.

INTERNAL CONTROLS AND THEIR ADEQUACY

The internal control systems are commensurate to the size of the operation of theCompany. Whenever it is required the systems and procedures are upgraded to suit thechanging business needs.

STATEMENT PURSUANT TO LISTING AGREEMENT

The company’s securities are listed with Bombay Stock Exchange and it has paid therespective annual listing fees up-to-date and there is no arrear.

The Company has obtained your approval at the Annual General Meeting held on 27thSeptember 2003 to voluntarily de-list the Company’s shares from Madras and CalcuttaStock Exchanges and the Company’s application for delisting is pending with both theStock Exchanges.

CODE OF CORPORATE GOVERNANCE

A detailed report on Corporate Governance as updated with the particulars of thisfinancial year as per the directions from SEBI is annexed to this report (Annexure‘A’) together with Report of the Auditors on the compliance with the said Codeand a report of Management Discussion and Analysis is also annexed separately.

DIRECTORS AND OFFICERS OF THE COMPANY

In compliance with the provisions of the Companies Act 1956 in accordance with theCompany’s

Articles of Association Mr. S. Sam Kumar and Mr. H Ratnakumar retire at this AnnualGeneral Meeting and being eligible offer themselves for re-appointment.

The Company has approached the Institute of Company Secretary and informed about thevacancy and the same has been displayed in the Institute’s notice board. Somecandidates have applied and a Company Secretary will be appointed at an early date.

Brief resume of the Directors seeking appointment/re-appointment nature of theirexpertise as stipulated under clause 49 of the listing agreement with the Stock Exchangesis appended to the notice convening the Annual General Meeting.

AUDIT AND AUDITORS REPORT

The retiring auditors M/s. M.S. Subbiah & Co. Chartered Accountants haveexpressed willingness to continue in office if appointed. They have furnished to theCompany a certificate of their eligibility for appointment as auditors pursuant tosection 224 (1B) of the Companies Act 1956. The Audit Committee and the Board ofDirectors recommend the re-appointment of M/s. M.S. Subbiah & Co. CharteredAccountants as Auditors for a further period of one year and to fix their remuneration.

ACKNOWLEDGEMENT

The Directors take this opportunity to thank employees at all levels Company’sBankers suppliers consultants shareholders State Government and other statutory bodiesfor their unstinted and consistent support to the Company.

For and on behalf of the Board of Directors of
CCS INFOTECH LIMITED
M.A. Hasan Abdul Kader H. Ratnakumar
Managing Director Executive Director
Place : Chennai
Date :  01-09-2013.

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