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ITI Ltd.

BSE: 523610 Sector: Telecom
NSE: ITI ISIN Code: INE248A01017
BSE 00:00 | 25 Jan 101.90 -1.75






NSE 00:00 | 25 Jan 102.00 -1.60






OPEN 102.70
VOLUME 22190
52-Week high 129.50
52-Week low 80.35
P/E 149.85
Mkt Cap.(Rs cr) 9,676
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 102.70
CLOSE 103.65
VOLUME 22190
52-Week high 129.50
52-Week low 80.35
P/E 149.85
Mkt Cap.(Rs cr) 9,676
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

ITI Ltd. (ITI) - Director Report

Company director report

Dear members

The Board of Directors hereby submits the report of the business andoperations of your Company ("the Company" or "ITI") along with theAudited Financial Statements (Standalone and Consolidated) for the Financial Year (FY)ended 31st March 2022 Auditors report and comments on the Accounts bythe Comptroller and Auditor General (CAG) of India.

As per the approved revival plan by the Cabinet Committee on EconomicAffairs (CCEA) in February 2014 Company has been sanctioned an amount of Rs.4156.79Crore including Rs.1892.79 Crore as grant-in-aid and Rs.2264 Crore as CAPEX Fund. We havereceived Rs.945.56 Crore of the CAPEX Fund in the form of equity and the entiregrant-in-aid until FY 2021-22. CAPEX Fund amounting to Rs.71.56 Crore was received duringFY 2021-22. Rs.200 Crore has been allocated in budget as CAPEX Fund for FY 2022-23.

The CAPEX Fund has been invested for upgrading the manufacturinginfrastructure at various Units of ITI to cater to the need of emerging technologies inTelecom industry. This has helped ITI regain its manufacturing strength. TheState-of-the-art infrastructure established under revival funds has boosted themanufacturing strengths to cater for domestic market demands under Make in India missionof Government of India.

The Company has been declaring profit since FY 2017-18. The Networth ofthe Company had become positive from 2019-20.


The summarized performance of the Company (Standalone basis) for thefinancial year 2021-22 compared to the previous year 2020-21 is as under:

Rs. in Crore
S.No. Particulars 2021-22 2020-21
1 Sales including services 2077 2578
2 Value of production 2097 2586
3 Profit/(Loss) after tax 121 11
4 Profit/(Loss) after tax 121 11
5 Other Comprehensive income (15) 20
6 Total Comprehensive income 106 31
7 Financing expenses 192 160
8 Depreciation 50 42
9 Capital employed 2657 2360
(Net Fixed Assets + Working Capital)
10 R & D Expenditure 15 11


The Consolidated Revenue from operations is at Rs.1861 Crore (PYRs.2362 Crore) reflect a decrease of 21% compared to the previous year. The profit beforetax and Profit after tax for the financial year 2021-22 were Rs.119.69 Crore againstRs.9.48 Crore during the previous year.


The Company has achieved the Turnover of Rs. 2077.48 Crore during theFY 2021-22 against Rs. 2577.90 Crore during the previous FY 2020-21.


The turnover for the FY 2021-22 is mainly constituted from TurnkeyProjects; Mix of products and Services.

T urnkey Projects

Execution of Turnkey Projects viz Gujnet Mahanet NFS Project ASCONPhase IV Project IAF Project Andaman & Nicobar Bharat Net Project Airtel FTTHRolloutetc


Manufacturing and supply of various products viz HDPE Duct OFCEncryption Products SMPS Solar Panel Mini PC Fibre Distribution Management SystemBanking products Mini PDO Smart cards Solar street lights etc


AMC for ASCON Defence Equipment NGN equipment OCB GSM-SZ &MLLN Business from Data Centre Upgradation of Data Centre for Indian Air ForceUpgradation of 3G network to 4G/LTE for Indian Air Force Services from Test labsReliability lab 3D printing Start-up Hub VSSC Business skill development Third PartyAudit Services (TPA) for implementation of Bharatnet Phase II project in the states ofOdisha Jharkhand and various other states business generated by Corporate MSP etc.

During the year "Letter of Award (LOA)" received fromTamil Nadu Fibrenet Corporation Limited (TANFINET) was converted into work order of Rs432.96 Crore for execution of BharatNet Phase-II in the state of Tamil Nadu. The projectincludes Planning Survey Supply Installation Commissioning Testing End-to-EndIntegration Operation & Maintenance of Optical Fibre Network (OFN) and Electronics ofPackage-D from TANFINET for providing Broad Band connectivity across the state of TamilNadu. The project is under implementation and expected to be completed by FY 2022-23.

The Company has received a Letter of Intent (LOI) from UrbanDevelopment Department Government of Maharashtra for the implementation of a centralizedmonitoring system based on Information and Communications Technology (ICT) for solid wastemanagement procedures in all urban local bodies of Maharashtra. The expected value of thiscontract is Rs. 400 Crore for a period of seven years.

The Company has received a Purchase order worth Rs 70 Crore fromBSNL for AMC of GSM Network for South Zone.

The Company has received a work order from BSNL worth Rs.39.84Crore for execution of Pilot Projects for last mile Broad band connectivity in uncoveredvillages under Universal Service Obligation Fund (USOF).

The Company has received a LOI worth Rs.10.50 Crore from BangaloreElectricity Supply Company Limited (BESCOM) Karnataka for establishing Grid- ConnectedRoof top Solar Plant of various capacities.

The Company has received a Purchase order from C-DoT formanufacture and supply of 40000 Nos of Optical Network Termination (ONT 23) of worthRs.7.22 Crore to M/s Railtel Corporation.

It is of great pride for the Company to be associated with VSSCISRO country's space mission which on 14th February 2022 successfullyplaced three satellites- PSLV C52 into their exact orbits and these carried five packageassembled at ITI.

For the first time in the history of the Company ITI has receivedan order from a Private operator for FTTH rollout worth around Rs. 34 Crore.

Details of Turn over achieved in FY 2021-22 Vs FY 2020-21:

Rs. in Crore
2021-22 2020-21
Sl. No Products/Projects (including EDST & gST) (including EDST & gST)
1 Corp Marketing & MSP's 744.24 270.56
2 ASCON PH IV 599.57 328.40
3 Mahanet 283.51 1367.46
4 NFS Project 104.88 108.95
5 GSM SZ AMC 98.42 34.38
6 Gujnet 63.08 114.58
7 Defence Business & AMC/ ASCON AMC 34.39 165.37
8 Solar Panel/ Solar Street Light 29.98 12.29
9 Data Centre 20.41 17.98
10 SMPS 19.92 7.80
11 MLLN/ AMC for MLLN/SSTP 18.86 22.03
12 3D Printing Aadhar based Business/ Mini PC/ Component Screening/ E-Governance projects/ Misc. Services 17.98 22.25
13 TPA for Bharanet Project in Jharkhand Odisha & Satellite 9.18 11.24
14 GPON (ONT OLT SPV and I&C) 8.62 1.81
15 Airtel FTTH 5.97 0.00
16 OFC/ Trading 5.08 17.41
17 NGN AMC 3.94 4.03
18 OCB AMC Business 3.70 8.65
19 Energy Savings 2.36 0.00
20 GSM Franchise 1.17 1.66
21 Bharatnet A&N 0.67 23.86
22 Banking Products/ Cont.Mfg/ Sanitary 0.56 1.23
Napkin Vending Machine
23 Wifi Hotspots I&C 0.58 0.43
24 HDPE Duct Manufacturing 0.41 35.54
Total 2077.48 2577.90


There was no change in the authorised/paid up share capital of theCompany during the year.

During the financial year 2021-22 pursuant to the CCEA approval dated20th July 2016 to comply with SEBI's (erstwhile) Minimum 10% PublicShareholding requirement 840336 equity shares were transferred by President of IndiaPromoter to Special National Investment Fund ("SNIF") on 17th March2022. As part of revival package the Company has received Rs 715630000 (Rupees SeventyOne Crore Fifty Six Lakhs and Thirty Thousand only) from Ministry of CommunicationGovernment of India on 31st March 2022 as capital grant for meeting theexpenditure towards CAPEX for implementation of various projects in its various plants.The Board of Directors of the Company in its meeting held on 25th May 2022allotted 8321279 equity shares at Rs 86.00 (face value of Rs 10 per share and at apremium of Rs 76) on preferential basis to the President of India against the Capex grantof Rs. 71.56 Crore received from Government of India. Accordingly post allotment ofequity shares on 25th May 2022 the paid up Equity Share Capital has increasedfrom Rs 9335228690 to Rs 9418441480.

During the year under review the Company has not granted stock optionsor sweat equity shares. As on 31st March 2022 none of the Directors of theCompany hold any shares of the Company.


As the Company still has accumulated losses the Directors are not inthe position to recommend any dividend for the year 2021-22.


As the Company still has accumulated losses it has not transferred anyamount to General Reserve.



In FY 2021-22 Bangalore Plant has achieved the turnover of Rs. 432.51Crore. The turnover mainly consists of Manufacturing Services and Projects.


i. Encryption Products

ITI has been the Pioneer in the field of encryptor device and has amajor market trusted shareholding in the digital technologies. The products have evolvedover the years in tune with the evolution in the digital communication technology.Bangalore Plant has Designed Manufactured and Supplied around 189 Encryption Productsduring FY 2021-22

ii. Telephones

Bangalore Plant has Supplied 202 no's of Field Telephone (5C)to Ashok Leyland GRSE and 301 no's of ETS (1+1) telephones to BSNL Plant alsomanufactured and supplied 170 nos of Nutan Telephone to various customers.

iii. PM-WANI

This framework takes forward the goal of National DigitalCommunications Policy 2018 (NDCP) of creating a robust digital communicationsinfrastructure. The PM-WANI framework envisages provision of Broadband through PublicWi-Fi Hotspot providers. It consists of elements such as Public Data Office (PDO) PublicData Office Aggregator (PDOA) App Provider and Central Registry.

Bangalore Plant has manufactured and supplied 118 No's of C-DoTdesigned Mini PDO for PM-WANI scheme.

iv. Data Centre and IT Business

Looking into high demand for data Centre business and the expectedgrowth in India ITI has expanded the Data Centre with 1000 Racks more capacity atBangalore Plant having level of Tier III certification i.e. ANSI/TIA-942-B. The TIA-942Certification Program enables data centres to be reviewed and certified for conformity tothe requirements of the globally-recognized ANSI/TIA-942 standard providing greaterassurance to customers and stakeholders.

ITI's state-of-the-art Tier 3 Data Centre is currently spread overmore than 200000 Sq. ft. with world class facilities having ISO 20000-1:2011 ISO27001:2013 ISO 27017: 2015 & ISO 27018:2019 certification. ITI Data Centre is alsoEmpanelled Cloud Service Provider with MeitY (Ministry of Electronics and InformationTechnology). ITI has obtained Capability Maturity Model (CMMi) Level 3.

ITI Data Center has the capability to offer a wide service portfolioswhich includes High density hosting services Cloud services Managed security serviceson demand services Professional services Security Operations and Managed IT services.

The Company is providing IT services like Aadhar authenticationservices e-KYC services core banking applications ERP services mobile walletapplication e-Seva services etc. through ITI Data Center.

The new Data Center is operational since February 2021 and it hasboarded 12 customers.

v. Security Operation Center (SoC)

The function of the SoC is to monitor prevent detectinvestigate and respond to cyber threats around the clock. SoC teams are responsible formonitoring and protecting the organization's assets including intellectual propertypersonnel data business systems and brand integrity. The SoC team implements theorganization's overall cybersecurity strategy and acts as the central point ofcollaboration in coordinated efforts to monitor assess and defend against cyberattacks.

Various services provided by the SoCaaS (SoC as a Service) are:

a. Data Loss Prevention

b. Security Information and Event Management SIEM & User and EntityBehaviour Analytics (UEBA).

c. Vulnerability and Penetration Testing (VAPT) d. E-Mail Security e.Firewall With DDOS (Distributed Denial-of-Service) f. Network Access Control (NAC) g.Identity & Access Management h. Endpoint Detection And Response (EDR)

vi. ITI eSeva

An Integrated e-Services Platform to deliver more than 40e-services to citizens under CSC Scheme. Currently more than 50 B2B B2C & G2Ce-services is being offered to 1000+ ITI e-Seva Centers in Karnataka & morethan 200 Centres in district of Chitrakoot Uttar Pradesh.

Impact on Social Livelihood:

Providing self-sustainable employment directly or indirectly to morethan 500 entrepreneurs.

ITI e-Seva through its presence in various geographical region of Urbanand Rural areas of Karnataka & UP state providing all e-Service to citizen at doorstep.

vii. SaaS

Various services are provided by the SaaS team along with thetechnology partners. A brief description of each is given below:

A) Offline Aadhaar KYC Verification

This service is used to verify the identity and address of theindividual using Aadhaar Number. This ensures that fake Aadhaar is not used by theindividual. Authentication is done using an API which can be integrated with any softwareapplication. The regulatory body maintaining this information is UIDAI.

of B) PAN Verification

This service is used to verify the identity of the individual. Thisensures that fake PAN is not used by the individual. The PAN verification happens throughNSDL. It also confirms if the PAN and Aadhaar for an individual are linked

C) Aadhaar Masking

ITI offers an Automated Aadhaar Masking feature which can partially orcompletely mask the Aadhaar number on an image in real-time. This can be used to store alllegacy Aadhaar cards of the financial institution as per RBI defined regulations. ThisSolution provides functionality to Mask all Aadhaar Numbers in any PDF/Image containingValid 12 digit Aadhaar Number.

D) Video KYC

The Reserve Bank of India (RBI) has issued a notification in January2020 allowing financial institutions (FI) to conduct video-based KYC (Know Your Customer)through the Video Customer Identification Process (V-CIP). ITI offer this as a service.

Verticals using the ITI SaaS Services

Non Banking Financial Companies (NBFC)

Micro Financing Institutions

Fintech Companies

viii. Telecom Test Lab (TTL)

ITI has established the Telecom Test Lab to execute the varioustests under EMC and Safety Test as per standards. EMC Lab is accredited by NationalAccreditation Board for Testing and Calibration Laboratories (NABL) and ConformityAssessment Body (CAB) by TEC Delhi. TTL caters to external customers ranging fromcommercial communication medical industrial IT and domestic sectors.

60 additional tests from automotive railways medical householdappliances standards are being added.

Further to cater to customers from defence TTL is being upgraded totest MIL systems.

ix. Startup Hubs

ITI has always been the front-runner in the nation building andimplementation of Government of India policies. With a vision to contribute for Start-upIndia mission of Govt. of India the Company has established a full-fledged Start-up hubat ITI Bangalore plant for encouraging start-ups in the country. ITI vision for Start-uphub is to help Start-ups convert their Innovations to Pilot Products quickly through RapidProto-typing facilities under one roof.

Start-up hub is having the facilities like dedicated corporate hubmeeting room demo room highly secure Wi-Fi connectivity.

There are 10 start-ups occupied with 165 seats operational who areworking on IoT based Home automation products Test equipment's and Covid relatedproducts Secured voting system CRM software development Atmospheric water generatordrones and Helitaxi/ Air ambulance. Start-ups are using Rapid prototype manufacturingfacilities & testing facilities within Bangalore Plant.

x. Reliability Engineering Lab

Reliability Engineering Lab is equipped with various EnvironmentalTest chambers and are providing services to internal as well as external customers. Labfacilitates to conduct all environmental tests as per QM333 JSS 55555 MIL Standard andCustomer Test Requirement.

xi. High-Density Polyethylene (HDPE) Duct Manufacturing

Bangalore plant is equipped with excellent manufacturinginfrastructure for production of HDPE Ducts with annual capacity of 8000 KMs.

xii. Defence AMC & Non AMC card Repairs

Bangalore Plant also executes the AMC for Ananda BEU MK II EDUsSTM 1 and STM 4 encryption Equipment's supplied to Defence Customers all over India.

xiii. gSM SZ AMC

ITI had successfully completed the BSNL GSM project of aroundRs.2940 Crore in various BSNL –South Zone Circles namely - Andhra Pradesh TelanganaChennai Karnataka Kerala and Tamil Nadu Circle along with mandatory AMC. SubsequentlyBSNL has extended the AMC upto Dec- 2021 and further extended AMC order worth Rs. 70 Crorefor one more year upto Dec 2022.



In the FY 2021-22 Palakkad Plant has achieved the Turnover of Rs.30.35 Crore. The turnover mainly consists of Manufacturing Services and Projects.


i. Laptop

ITI has taken initiatives to supply Laptops "ITI SMAASH"and the product has acquired all the statutory certifications such as BIS FCC RoHS CEBEE etc. The product is registered in GeM . The product is available in variousconfigurations such as Celeron Core i3 Core i5 Core i7 etc. ITI is having the MoUpartnership with Intel as the technical advisor to identify the business requirements andincluding enabling ITI branded laptop portfolio for India market. The targeted market ismainly Government Business Educational Institutions etc. ITI has also signed anagreement with Microsoft as the OEM partner for Windows Operating System with whichMicrosoft will extend the direct support to ITI at par with other MNCs such as HP Delletc.

ITI Palakkad Plant has received order from KSEDC (Kerala StateElectronic Development Corporation) for supply of 100 Nos of Laptops.

ii. Smaash PC

ITI Palakkad has started assembly and marketing of Micro PC branded as"SMAASH" which is a replacement to the traditional Desktops. Trademark isregistered and BIS CE FCC ROHS and Energy Star Certifications have been received. Theproduct is also customized with add on features such as Smart Power Station with dualpower input as grid and solar with 3 hour backup Smart lock for Physical Security etc.

The plant has also entered into IT business by offering softwaresolutions such as Examination Management Software for Kerala University Web site design& development for Kannur University Infrastructure set up for Online Examinationcentre for Mahatma Gandhi University etc.

During FY 2021-22 ITI Palakkad has manufactured and supplied more than1500 Nos of Smaash PC to various customers such as KSEDC for e-health Project MGuniversity DIET Karnataka IIST etc.

iii. Components Screening

ITI Palakkad Plant is associated with Vikram Sarabhai SpaceCentre(VSSC) Thiruvananthapuram in realization of electronic packages screening ofelectronic components and assemblies for various launch vehicles as well as screening ofelectronic components since 2010 and expanded over a decade in to wide range ofactivities.

The component screening and testing facility is accredited by VSSCTrivandrum for all types of avionics flight packages as well as more than 70 types ofdevices for screening tests. ITI Palakkad is having business association with 3 units ofISRO namely VSSC LPSC (Liquid Propulsion System Centre) and MVIT (Mechanisms and VehicleIntegration Testing ) all of which are located at Thiruvananthapuram and engaged in theManufacturing Testing and Integration of all Launch Vehicles - PSLV GSLV GSLV Mark IIIetc. used in various space missions of ISRO. Orders are being received and executedcontinuously from the year 2017-18 onwards. More than 70000 electronic components /assemblies are screened from this centre and more than 2500 flight packages manufacturedby ITI are successfully used in various launch vehicles - GSLV PSLV and GSLV Mark-III- ofISRO including the prestigious Chandrayan mission.

Recently the facility got qualified for screening and packagerealization of Gaganyaan project of ISRO against which pilot quantities arescreened/assembled and delivered successfully. Expansion of scope of programme is beingdone continuously by developing test facilities for more devices.

Business opportunities for utilization of Component Screening andtesting facility from non-ISRO client base like Automation and Biomedical industries arealso being explored. Small pilot orders from M/s Bosch M/s Tata Elxsi M/s BPL and M/sSouriau connectors are received and executed successfully. NABL accreditation proceduresare in progress as it is essential to tap business opportunities from non-ISRO sectors.

iv. Smart Energy Meter

As a part of diversification strategy ITI has entered into SmartEnergy Meter manufacturing wherein the legacy energy meters are being replaced by smartenergy meters. These meters records energy consumption and has a facility to store thedata and reproduce whenever required. These meters enable a two-way communication betweenthe meter and the central system.

ITI Palakkad has received type approval and BIS certification forSingle Phase Smart Energy meters complying with IS 16444 technical specifications for twotechnologies. Facilities and infrastructure are set up at the plant for bulkmanufacturing calibration testing and supply of smart energy meters.

The calibration laboratory of Smart Energy Meter has received the NABLaccreditation as per standards ISO 17025: 2017 standards. ITI has supplied 91000 nos ofSmart Energy Meters to the DISCOMs in UP and Haryana. ITI is also trying to venture as aTotal Advance Metering Infrastructure (AMI solutions) solution provider and pursuebusiness with various Electricity distribution companies for offering smart energy meterssolutions.

v. Smart Banking Card

ITI Palakkad plant is having state of the art infrastructure inline with technical specifications for Payment Card Industry (PCI).

ITI is the only PSU having the accreditation for Rupay chip cardpersonalization from National Payments Corporation of India (NPCI). The infrastructureincludes modern manufacturing equipment for Smart Card Assembly and customization formilling & embedding personalization etc.

ITI Palakkad has executed the pilot order from SBI for the supply of 2Lakhs Rupay cards. ITI is also pursuing business with other Public Sector banks and othercustomers for getting more orders.

Plant also executed the Order from Kerela Bank – ID card KeralaElection Commission – EPIC Card of cumulative 46386 Nos.

vi. High-Density Polyethylene (HDPE) Duct Manufacturing

Palakkad plant is equipped with excellent manufacturinginfrastructure for production of HDPE Ducts with annual capacity of 8000 KMs.

Plant has manufactured and supplied 2000 KMs of HDPE Duct to ASCONPhase IV 600 KMs for TANFINET ; 83 KMs for BBNL – Andaman & Nicobar ; 67 KMs forIndian Railways and 5 KMs Dept. of Atomic Energy during the FY 2021-22.

vii. MLLN

ITI has been the leader in supplying MLLN products and servicesincluding turnkey solutions for supply installation integration commissioningoperation and maintenance of Network equipment to BSNL/MTNL since 2002-03. The existingMLLN networks has been installed and maintained by ITI till date. During FY 2021-22 ITIPalakkad has executed orders worth Rs 18.86 Crore from BSNL for the AMC (card repair andtechnical support) extended to MLLN equipments for BSNL.



In the FY 2021-22 Mankapur Plant has achieved the Turnover of Rs.86.29 Crore. The turnover mainly consists of Manufacturing Services and Projects.


i. Fibre Distribution Management System (FDMS)

FDMS shall provide management of large volume of optical fibres ornumber of cables with flexibility and reliability in all environment of access network(i.e.) at the Central office (exchange end) outdoor closure and at the building premises.It shall provide management of fibres in a consistent and structured manner.

During the FY 2021-22 Plant has manufactured and supplied 514 Nos ofFMDS for ASCON Phase IV Project.

ii. gigabit Passive Optical Network (gPON)

GPON technology offers an excellent mix of triple play services(voice data & video) to end users. Mankapur Plant has State-of-art manufacturingfacility for GPON-OLT & ONT systems and during FY 2021-22 Plant has manufactured andsupplied 500 Nos of GPON ONT to various customers i.e BSNL BBNLetc

iii. High-Density Polyethylene (HDPE) Duct Manufacturing

Mankapur plant is equipped with excellent manufacturinginfrastructure for production of HDPE Ducts with annual capacity of 12000 KMs.

iv. Diversified Products

ITI Mankapur is doing business in diversified Products also. Theproducts which are developed and manufactured In-house are Banking products viz NoteCounting machine Fake note detectors SNVM- FLORA (Sanitary Napkin Vending Machine)SNDM-FAUNA (Sanitary Napkin Disposal Machine) FMVM-KAVACH (Face Mask Vending Machine)and FMDM-CONA (Face Mask Disposal Machine).

Mankapur Plant has developed Anti Covid products to help prevent thespread of coronavirus like pedal operated hand Sanitizer Dispenser (All Clean) AutomaticHand Sanitizer Dispenser (Rakshak).

Plant has manufactured and Supplied 114 Nos of Note Counting Machine tovarious Bank and Post Offices. Plant also supplied 20 Nos of SNVM & SNDM to RailwaysMunicipality colleges etc



In the FY 2021-22 Rae Bareli Plant has achieved the Turnover of Rs.56.38 Crore. The turnover mainly consists of Manufacturing Services and Projects.


i. OFC

The Indian optical fiber cable market is gaining traction. Thegrowth is driven by continued investments being made by the Indian government indeveloping OFC network infrastructure in various projects. There has been increasedadoption of Fiber-to-the-Home (FTTH) connectivity owing to government initiatives such asDigital India Smart Cities Bharatnet Project etc. Moreover the growing number of datacentres in India will fuel this growth further.

The Company have been making great efforts to meet domestic demand foroptic fibre cable with the installed capacity of 30000 KMs per annum. During FY 2021-22Rae Bareli plant manufactured around 10000 KMs of OFC for ASCON-IV project RailwaysMTNL and Indian Air Force.

ii. gigabit Passive Optical Network (gPON)

GPON technology offers an excellent mix of triple play services(voice data & video) to end users. Rae Bareli Plant has State-of-art manufacturingfacility for GPON-OLT & ONT systems and during FY 2021-22 Plant has manufactured andsupplied 100 GPON (ONT & OLT) to various customers i.e BSNL BBNL etc.

iii. High-Density Polyethylene (HDPE) Duct Manufacturing

Rae Bareli plant is equipped with excellent manufacturinginfrastructure for production of HDPE Ducts with annual capacity of 28000 KMs.

During the FY 2021-22 Plant manufactured and supplied 2000 KMs forASCON Project; 200 KMs for Indian Air Force.

iv. Switched-Mode Power Supply (SMPS)

Rae Bareli plant received orders from various BSNL circles acrossIndia for supply of multi configuration SMPS Power Plants of 1169 no's during FY2021-22.

v. OFC Training Center

Optical Fibre is the backbone of any Telecommunication Networks.

So proper laying practices must be followed for setting up any TelecomNetwork.

Rae Bareli Plant has a well-equipped Tools and Test Lab with all OFCtesting equipments like OTDR Splicing Machine Optical Attenuator Laser Source PowerMeter Digital Microscope Visual Fault Locator ERM Locator etc. All Fibre tools &accessories like FDMS ERM Joint Closure Duct Cutter etc Duct tools & accessorieslike Coupler End Cap End Plug and so on. It also has Aerial OFC Laying Accessories; OFCLaying site simulation Models etc.



In the FY 2021-22 Naini Plant has achieved the Turnover of Rs. 30.06Crore. The turnover is mainly from manufacturing and services.


i. Solar Panel

The Government has set an ambitious target of generating 450 GW ofrenewable energy by 2030. This includes a target of generating 175 GW of renewable energyby 2022 with a target of 100 GW from solar power.

Naini Plant has state-of art manufacturing facility for Solar Panelmanufacturing with annual capacity of 18 MW.

During the FY 2021-22 the Plant has manufactured and supplied 662 Nosof 60W Solar Panel for MahaNet; 16640 Nos of 325W Solar Panel for Captive Requirement and299 Nos of 325W Solar Panel for Retail customers.

ii. LED Street Light

Naini Plant has received LOI from M/S. ESSL for UREDA (UttarakhandRenewable Energy Development Agency) for the supply Installation & Commissioning of19665 Nos Solar Street Light System in the state of UttaraKhand. Out of which 8850systems have been supplied during FY 2021-22.


In the FY 2021-22 Srinagar Plant has achieved the Turnover of Rs 2Lakhs.


Smart Skill Development Centre: Established in Srinagar is being usedfor imparting training to around 500 Students. Following Courses are offered as on date inthe skill sets like:

Medical lab Technician

Optical Fibre Splicer

Domestic Data Entry Operator.

Solar Panel Technician

Fashion Design


NSU is headquartered at Bangalore with regional offices spread acrossall over India. NSU is committed to creditably and timely execute the projects/ services.Even at the challenging times of Covid-19 Pandemic NSU has booked a colossal turnover ofRs. 697.63 Crore.

NSU has proficiency in project management turnkey projectimplementation and maintenance services in the F.Y. 2021-2022 following turnover wasbooked by NSU under projects and services heads:

Under Projects Head – The unit has executed ASCON-IV project worthRs. 599.56 Crore against order received from Ministry of Defence GoI and GujNet projectworth Rs. 63.08 Crore against order received from GFGNL for Broad Band connectivity acrossthe Gram Panchayats in the state of Gujarat.

Under Services Head – The unit has executed ASCON-AMC orders worthRs. 18.00 Crores for Defence; AMC orders worth Rs. 3.70 Crore for OCB equipment suppliedto MTNL; Installation and Commissioning of GPON equipment supplied to BSNL worth Rs. 7.32Crore.


a. Army Static Switched Communication Network (ASCON) Phase-IV

ITI signed contract for prestigious project of National Importance(ASCON-IV) on 01st October 2020 with the Indian Army. This project involvesdeveloping a fully secured strategic next generation communication network orientedtowards the borders (spread across Northern North-Eastern and Western regions of India).The project scope involves laying OFC establishing IP MPLS Network Microwave SatelliteMobile Nodes and construction of buildings and towers. Also integration of thiscommunication network with legacy Army network i.e. Network for spectrum (NFS) Army WANASCON Phase III etc. under this project scope.

Proof of Concept (POC) to the customer is completed for a fewsub-systems and for balance sub-systems it is in advance stages of completion. Uponsuccessful completion of PoC full-fledged trenching & ducting activities across theNorth-Western North-Eastern & the hinterlands of Northern India had been initiated.Also the construction of buildings has started. NSU achieved a turnover of Rs. 599.56Crore from this project in the F.Y. 2021-2022.

b. BharatNet Phase-II in gujarat (gujNet)

ITI had received order worth Rs. 1417.71 Crores from Gujarat Fibre GridNetwork Limited (GFGNL) for implementation of turnkey project for Broad Band Connectivityto Gram Panchayats of Gujarat state under Bharat Net Phase II Project. The projectincludes laying of optical fibre cables (OFC) supply of DWDM equipment opticaltransmission and access equipment and other related products as well as maintenanceservices. NSU has achieved a turnover of Rs. 63.07 Crore from this project in the F.Y.2021-2022.

c. AMC for ASCON

ITI had successfully executed the first 3 phases of ASCON project. Nowwe are providing services to maintain the ASCON network. The scope of service under thisproject involves repair and maintenance of secrecy cards maintenance of OFC routes etc.NSU has achieved a turnover of Rs. 18.00 Crores from this project in the F.Y. 2021-2022.

d. BharatNet Phase-I in Andaman & Nicobar

The scope of this project involves network design and planning supplydeployment and commissioning of fibre optic network for data connectivity for grampanchayats across Andaman & Nicobar Islands under BharatNet Phase-I project of BBNL.

e. Air tel Project

India's second-largest service provider Bharti Airtel has awarded OFCworks to ITI Limited on 28th August 2020. The Company is working with Privatetelcos to leverage local firms and expertise in all business verticals. NLD work involvesconstruction of around 500 Km of underground optical fibre network for intercity back bonefibre connecting sixty-two nodes across six routes in state of Odisha and FTTH work is toconstruct around 380 Kms of aerial and underground optical fibre network for Fibre to Homeconnectivity which covers more than 37000 Home Connections across 7 major cities inIndia. NSU has achieved a turnover of Rs. 5.96 Crores from this project in the F.Y.2021-2022.


ITI was one of the major suppliers of fixed line switches to BSNL/MTNL.Currently ITI has been extending the maintenance services to BSNL and MTNL for OCBexchanges. NSU has achieved a turnover of Rs. 3.70 Crores from this project in the F.Y.2021-2022.

g. gPON Supply

NSU has installed and commissioned GPON equipment against the BSNL andBBNL orders across all over India. NSU has achieved a turnover of Rs. 7.32 Crores fromthis project in the F.Y. 2021-2022.

III. HIgHLIgHTS a. ITI has received Work Order for PlanningSurvey Supply

Installations Commissioning Testing End to end Integration Operation& Maintenance of Optical fiber network and Electronics for Bharat Net Phase – IIin Tamil Nadu for Package-D amounting to a total value of Rs. 432.97 Crore.

b. GujNet project has successfully been completed and same hasrendered significant profit to ITI.

c. Warranty period successfully completed for GPON BBNL PO and

AMC agreement signed.


The total Turnover from Corporate Marketing unit for the year 2021-22was Rs 744.24 Crore.

All MSPs Turnover (without below 4 projects) : Rs. 274.93 Crore

Turnover from Projects :

1. IAF: (4G/LTE: 3G to 4G up gradation & expansion) : Rs. 84 Crore

2. IAF-FCI : Rs. 269.41 Crore upgradation of OPS of data centre at 6locations

3. OFC (Mumbai) : Rs. 109.29 Crore

4. SWM (Solid waste Management) : Rs. 6.61 Crore


The total Turnover achieved for the year 2021–22 was Rs. 259.86Crore which includes IAF 4G-Rs. 84 Crore. Some important projects are highlighted asbelow:

MSP Delhi has executed the KVS (Kendria Vidhyalaya Sanghathan) projectfor SITC (Supply Installation Testing and Commissioning) of 2310 e-learning solution at238 KVs – Total value Rs 80.45 Crore including AMC.

Hoisting services of IUMS (Integrated Universities Management System)for HP University and implementation of IUMS for JNVU (Jay Narayan Vyas University) hasbeen completed successfully.

AMC for CCTV Surveillance for "Sriram Janmabhoomi Ayodhya"has been completed. Total value Rs 5.9 Crore.

Work of Cloud hoisting for Universities like LUVAS (Lala lajpat RaiUniversity of Veterinary and Animal Science) Hissar and RTU (Rajasthan technicaluniversity) Kota has been completed. Total value Rs 2.0 Crore.

UKBOCW Project - Supply storage of door-to-door delivery of ration kit& its e - management is Under Execution. Total Value Rs. 13.26 Crore

Projects such as AMC for CCTV Surveillance IUMS N/W Up gradation

LAN/VAN and Wi-Fi system etc. are being executed. Approx. Value Rs.15 Crore.


The total revenue achieved for the year 2021–22 was Rs. 32.97Crore. Some important projects are as follows:

UP Vidhan Sabha Project for Digital Library & Communication Systemof value Rs. 2.83 Crore & Rs. 1.28 Crore have been completed successfully.

UKBOCW project (Supply of Blanket Solar Street light and Napkin to

Uttrakhand Govt.) is under execution. Total value Rs. 19.66 Crore.

UP Minority commission (Smart Class works) Project is Under Execution.

Total Value Rs. 9.33 Crore.


The total revenue achieved for the year 2021–22 was Rs. 6.83Crore. Some important projects are as follows:

PACS NMS for BSNL and Railway telecom Infra projects are beingexecuted.


The total revenue achieved for the year 2021–22 was Rs. 7.27 CroreSome important highlights are as follows:

CCTV surveillance work for Odisha police has been completed. Totalvalue

Rs 0.58 Crore.


The total revenue achieved for the year 2021–22 was Rs. 3.55 CroreSome important highlights are as follows:

Project such as IUMS (Integrated Universities Management System) for

RPCAU (Rajendra Prasad Central Agriculture University) PUSA Bihar andSWAN (State wide Area Network) Mizoram have been completed.

Project of Replacement of UTN Datacom equivalent in age cum conditionbasis in Malegaon division and Rangia division NF Railway Malegaon has been completedsuccessfully


The total revenue achieved for the year 2021–22 was Rs. 158.21Crore which includes SWM- Rs 6.61 Crore and OFC-109.29 Crore.

Government of Maharashtra has appointed ITI for developmentcommissioning and implementation of ICT based Solid Waste Management Project inMaharashtra under "Urban Development Department" on rate contract basis for 7years through GR No SMA-2021/C.R. NO. 12 (3)/UD-34 Dated 7th October 2021.

The Technology shall broadly comprise of following:

a) ICT Based Waste Collection Monitoring Technology for Household/Commercial / Other Properties. ITI signed agreement with Maharashtra Government.

b) Street Sweeping Monitoring System c) Liquid Waste CleaningMonitoring System.

Geo Fencing project of Maharashtra Government at 4 locations in

Maharashtra Municipal Corporation and Facility Management Systemproject of WWB (Worker Welfare Board) are being executed. Retrofit work of bullet proofvehicle for Maharashtra Government is under execution.


The total revenue achieved for the year 2021–22 was Rs. -16.49Crore.

Work order received for Provision of VSS works at Thiruvanthpuramsouthern railway and it's under execution.

Railway electrification project of Salem and Dindigul has beencompleted successfully and 2 other projects of electrification are under execution.

Order Value of Rs 1.00 Crore for IT solution project of TN Agriculturaluniversities received and same been successfully completed.


The total revenue achieved for the year 2021–22 was Rs. 292.04Crore which includes IAF–FCI project : Rs 269.41 Crore. Some important projects areas follows:

Project such as Solar power plant LED Light and Solar water Heater for

NAAC – Total value Rs 1.5 Crore and OFC laying work for southernrailway - Total value Rs 5.0 Crore have been completed successfully.

OMC project of Intelligent Traffic Management System phase-I andPhase-II

Has been completed successfully- Total value – Rs. 30 Crore

Efforts undertaken by Corporate Marketing during year 2021-22

ITI won an order for Rs. 233.89 Crore from IAF through open tender forup gradation of their 3G network to 4G network. It is being executed by MSP Delhi.

ITI received order to supply 40000 ONT from C-dot for RailTel and itsbeing executed by our Mankapur unit.

Empanelment with Vodafone as supplier for supply of HDPE Duct & OFC

Empanelment with Airtel for supply of HDPE Duct & OFC is underprogress

Coordinated with our plants and participated in GeM bid / tenderpertaining to OFC of order quantity – 8040 Kms (Won - 1513 Kms Value – Rs.11.30 Crore)

Coordinated with our Naini unit and won Gem Bid pertaining to Solarpanel of order quantity – 4500 Modules Value – Rs. 0.83 Crore

Coordinated with our Palakkad unit and participated in Gem Bid / Tenderpertaining to PC of order quantity – 2754 (Won – 1604 Value – Rs 9.5Crore)

Approached private players like L&T Ashoka Buildcon AkshOptifiber

Rajani telecom Tata Communications for our HDPE Duct & OFC.


The Company's rating for the FY 2019-20 is "Good" with acomposite score of 52.46 and for the FY 2020-21 is "Fair" with a composite scoreof 43.05. The Company has signed MoU with the Administrative Ministry for sales turnoverof Rs. 2723 Crore (at Excellent Level) for the FY 2021-22. The MoU Evaluation for the FY2021-22 is yet to be finalized.


The Company has undertaken many initiatives/ projects so as to boostthe turnover and implement the Revival plan

I. Mono Crystalline Solar Cells

The demand of High Efficiency Crystalline Solar module is expected togrow of 8.5% CAGR. The National Solar mission has target to install 175000 MW RenewableEnergy capacity by year 2022. The prime objective of the mission covers generation of100000 MW Solar energy capacity including 40000 MW Rooftop Solar Power project. Thecurrent manufacturing capacity in India is not sufficient to meet the objective mission.The indigenous solar cell manufacturing capacity in India is merely 3 GW whereas the SolarModule manufacturing opportunity is 20 GW as per MNRE report.

The Implementation of in house manufacturing facility in ITI willsupport ITI to expand market reach and building up the local supply-chain eco-system inIndia thus generating more jobs and revenue. ITI is planning to implement 250 MW in-housemanufacturing facility of High Efficiency Mono Crystalline Solar Cell and Solar Modulewith an investment of Rs 125Crore in year 2022-23.

II. Digital Mobile Radio – DMR

ITI Ltd. R&D intends to take up the development of Digital MobileRadio (DMR). This device uses digital technology along with a time division approach toenable greater levels of efficiency and performance along with improved spectrum usage.DMR aims to provide an affordable low-complexity digital standard to replace analogradio. DMR based VHF/UHF radios are used in many applications such as militarycommunications police railways public safety traffic control disaster managementindustrial security and communications etc. The VHF/UHF radio can be used indirect-to-direct communication in Tier I Tier II or in multi-site environment in Tier IITier III modes.

ITI Ltd. looks forward to development of a DMR based full system tooperate in the range of VHF/UHF frequencies. The developed Radio shall have complete userinterface and the mechanical design to meet the needs of consumer applications.

ITI R&D proposes to develop the required DMR System comprises DMRSmart Phone DMR LCR (Low Cost Radio) Repeater and Base Station.

Once the System is designed and prototype proven ITI Ltd. intends todemonstrate the prototype to defence and get it approved.

In order to emerge as a potential manufacturer for supply of DigitalMobile Radio (DMR) to customer ITI has to be equipped with the latest technology &complete solution for DMR.

III. Manufacturing Infra & Test setup for 4g RRU/BBU

As part of its focus on delivering turnkey projects in the field ofTelecom IT and networking ITI Limited has decided to contribute in the proliferation ofindigenously manufactured 4G Mobile equipment and service in the Indian Telecom Spacethrough forth coming BSNL's 4G Tender under Atma Nirbhar Bharat Mission. ITI iscurrently conducting Proof of Concept (PoC) testing along with its technology partner TCSat Ambala for BSNL 4G network implementation. PoC test is expected to be completed by endof August 2022. Technology transfer for manufacturing of 4G Remote Radio Unit (RRU) isunder process. ITI has upgraded its manufacturing infrastructure and procurement of TestInstruments for 4G RRUs are in progress. ITI plans to manufacture 4G equipment at itsBangalore Palakkad and Mankapur plants.

In addition to manufacturing Remote Radio Head (RRH) ITI also want tomanufacture Base Band Units(BBU) components including BBU chassis indoor and outdoorcabinets required in the BSNL 4G network which is in the order of 57000Nos.

IV. Establishment of MSP/SoC

ITI has entered into an MOU with Tata Communications Ltd for setting upof Multiservice Platform/Security Operation Centre (SoC) in ITI Data centre in Bangalore.Various IT and security services like Identity access Management Email Security DataLoss Prevention Distributed Denial of Service (DDOS) Mitigation Network Access ControlEndpoint Protection Detection & Remediation SIEM (Security Incident and EventManagement) and Threat Intelligence & Advisory would be provided to various clients tofulfil their network security requirements. Implementation of Multiservice Platform/SoC isunder progress and will be completed by September 2022.

V. Router Manufacturing

ITI has Technology transfer agreement with CDOT for manufacturing ofStackable Terabit Router (STBR) which provides advanced routing platform with 960 Gbpsbidirectional switching capacity. CDOT STBR Router has 48 Ethernet interfaces which can beconfigured as either 1Gbps or 10Gbps each.

Stackable Tera bit Router (STBR) can be used as service provider edgerouter as well as an aggregation switch in the telecom and IT Network. These Routers aredeployed in the network of NKN TEC Strategic Networks CEIR and DRDO. The deployment ofthese Routers in ITI Data Centre would also be explored.

VI. Electronic Voting Machines-EVM

ITI looks forward to manufacture complete Electronic Voting Machine(EVM) system. The developed EVM has complete user interface and the mechanical design asper the needs of State Election Commission (SECs). Electronic Voting Machine (EVM)comprises of Ballot unit Control unit & VVPAT (Voter Verifiable Paper Audit Trail).

ITI R&D has finalized the Technical specifications of EVM matchingto SECs requirement of latest EVM for the development of prototypes for Labevaluation/trails & product approval by TEC/ECI. ITI has manufactured the prototype.


During the year your Company has contributed Rs. 191.64 Crores to theexchequer towards duties and taxes.


The Company did not accept any deposits during the year 2021-22.Deposits aggregating to Rs.0.23 Crores had matured for payment but were not claimed ondue dates.


The Credit rating assigned by Rating Agencies for the various debtinstruments of the Company forms part of the Corporate Governance Report



ISL is a Joint Venture of Chris Tech Systems Pvt Ltd and ITI. ChrisTech Systems Pvt Ltd has 51% equity participation in ISL and balance equity is held byITI.

As part of revival ISL has executed Joint Development Agreement todevelop its immovable property as a Software Technology Park. The Master design of theproject called as "Silicon Forest" was completed with the requiredspecification to get the rating of "IGBC Core and Shell Gold Certification" aGreen building rating that brings together a host of sustainable practices and solutionsto reduce the environmental impacts. The project is expected to create employmentopportunities for 1000 people during construction and shall build an IT infrastructuredesigned with a working capacity for 25000 Software professionals thereby contributingto the economic growth of the country. ISL has also developed a cloud-based softwareapplication useful for various commercial applications and FY 2021-22 being the first yearof business operation after a hiatus of quite a few years.

There was no Company which became or ceased to be subsidiary jointventure or associate of the Company during the year under review.

The salient features of the Joint Venture Company are furnished in formAOC-1 which is appended to this report as Annexure 1.


ITI Limited is always committed to Quality and understand that Qualityencompasses all functions. Quality is a driver that produces higher profits through lowercosts and has the ability to command a premium price in the market place.

Quite conscious of the importance of the quality since the verybeginning of its incorporation the company has introduced many quality procedures andpractices and has established various Quality Management Systems and necessaryinfrastructure over the years.

All the Manufacturing Units of the Company are certified for ISO basedQuality Management Systems i.e ISO 9001and ISO 14001 Environment Management System.

The Company has created the required Infrastructure by establishingstate-of-the-art test facilities like environment test chambers high altitude testfacilities bump & vibration test facilities calibration facilities for electronictest instruments EMI / EMC test facilities etc. Facilities for Highly Accelerated LifeTesting (HALT) Highly Accelerated Stress Screening (HASS) and combined environmentaltesting have been established for enhancing product reliability. Around two Labs have beenaccredited by NABL.

Requisite competency on various aspects of quality and reliability hasbeen built by imparting training to employees every year for ISO under on-going competencydevelopment programme.

Efforts are paying rich dividend to the Company in many ways likeimproving our processes reducing costs and improving profitability enhancing customersatisfaction and earning goodwill trust and reputation. With all these infrastructure inplace along with necessary available competency and very high level of quality awarenesswithin the company we are poised to comfortably meet any forthcoming challenge on thisfront in future.

ITI as a main System Integrator is responsible for quality of theoverall system even on behalf of its vendors. In such a scenario it is imperative to havea network of competent and reliable quality suppliers who can consistently deliver highquality products and services. In this context Supplier Quality Assurance RequirementManual is under preparation with an objective to help in understanding the minimum qualityperformance requirements and expectations of ITI and its customers and regulators so thatthe suppliers shall consistently deliver defect free products by developing and enhancingtheir capabilities through continual improvement of their processes and productperformance.

TSEC (Technical Specification Evaluation Certificate Issued by QA andInspection Circle of BSNL) for

Gigabit Passive Optical Network (GPON) ONT & OLT

Radio Modem in ISM Band (Type A and Type B)

Electronic Telephone Instrument with CLIP and two-way speaker feature


Permanently Lubricated HDPE Telecom Ducts

Executive Telephone System (ETS-04)

Optical Fibre Cable ( various Types )

SMPS Power Plant ( Outdoor and Indoor)

2 Mbps PCM Multiplexing Equipment

Hybrid Solar Photo Voltaic (SPV) Power Supply System.

Fiber Distribution Management System

BIS (Bureau of Indian Standards) Certification for

Smart Energy Meter

Crystalline Silicon Photovoltaic (PV) Modules

Smaash PC


IEC (International Electro-Technical Commission) certificate for "SolarPV Module"

TEC (Telecommunication Engineering Center) Type Approval certificatefor

Permanently Lubricated HDPE Telecom Ducts

NPCI certification for RuPay Card Manufacturing and Personalisationfor Smart Card Manufacturing Infrastructure at Palakkad Plant.

NABL Certification

EMC Lab at Bangalore Plant;

Smart Energy Meter Calibration Laboratory at Palakkad Plant.

Accreditation of VSSC (Vikram Sarabai Space Center Trivandrum) forComponent Screening Test & Evaluation Assembly & Testing of flight Packages.

CSIR- CSIO (Central Scientific Instruments Organisation) Chennai certificatedfor UV Disinfection System – Garuda


The Company recognizes the importance of and contribution of its HumanResource in providing the competitive advantages. It emphasizes on upgrading the skillsand capabilities of its employees to improve their productivity. The Company is conductingtraining and workshops in new and strategic areas so that its employees are ready to facechallenges in the coming years. HR initiatives are focused on developing team spiritsemployee's empowerment and their involvement in various activities. All HR effortsare in alignment with the business priorities and with an objective of smooth transitionto latest technology.


The Employee strength as on 31st March 2022 was 2442 outwhich 433 are female employees.

As on 31st March 2022 there were 400 employees belonging toScheduled Castes 34 belonging to Scheduled Tribes and 468 employees belonging to OBCcategory. 531 Officials are on Tenure basis 17 Consultants and 08 Project Coordinators /Project Assistants were recruited during the year 2021-2022.

Employees belonging to Physically Challenged category were 21 andEx-servicemen category numbering 39 were on the rolls of the Company as at the end of thefinancial year.


ITI has glorious tradition of building and maintaining conduciveemployee-employer relations environment. The Industrial Relation scenario in the Companywas cordial throughout the year. Employees Union and Officers Association extended theirco-operation and support in ensuring smooth work flow and helped to meet theCompany's objectives.


The Company has Internal Complaints Committees (ICC) to redresscomplaints received regarding Sexual Harassment at all Units. All employees (permanentContractual Temporary trainees) are covered under this policy. The Company has compliedwith the provisions relating to the Constitution of ICC and during the year nocases/complaints have been filed under the Act.


ITI Limited weighs up that employee's development enhancing theirskills & competencies for preparing them for future is the key step in taking up thechallenges effectively.


i) Training & Development

Due to the rapid advancement of technology in the present era ofglobalization it is very essential for the Company to develop the skills and knowledgerequired. A lot of attention is being paid to developing new skills improving existingones and boosting capacity in order to meet and overcome the challenges faced. Thesuccess of the business depends on skilled manpower/ personnel. The major driving forcesbehind the Company's expansion and sustainability are skill and knowledge. Attrition oftrained and experienced employees has resulted to a shortage of skilled manpower for theCompany right now which is a biggest challenge. The lack of required skill set is made bydeliberate and well-planned training and development activities to improve/overcome thechallenging situation. ITI Limited has adopted a strategy that directs employee trainingdevelopment and capacity building training through a systematic and need based planningprocess through identification of training needs designing and customizing the trainingprogrammes etc.

Learning is part of our core value at ITI Limited. Recognizing the needfor capability building for current and future roles ITI Limited has set up acomprehensive training facilities comprising Employee Development Centers (EDCs) at allplants and Simulator training facilities at Bengaluru. Training & Development isactively engaged in making our people future ready in terms of technology business acumenand leadership so as Learning is one of our Core-Values.

Training Delivery modes includes classroom online (web based andVideo-Conferencing) Virtual Reality and e-Learning with increasing emphasis on technologydriven platforms. In fact in the wake of Covid-19 almost all programs were beingdelivered virtually on GoTo Meet/CDOT other such platforms.

With a major focus on the Company's business objectivesemployee-centered technological and managerial skill development customer relations andquality the Company has made a commitment to adopt the way to enhance the skills inemerging trends in telecom technologies IoT and ICT etc and also accelerated HR learninginterventions and development activities. Employees get regular access to enhance theskills/knowledge on areas like new technology/general training courses such advancedcourses on 4G/5G IoT enterprise risk management (ERM) advanced courses on PCMM Level 3employee wellness programmes and awareness courses on the right to information etc.

The details of number of training programmes organized; No. of peopletrained; Training man-days achieved during the FY 2021-22 is as follows:

Details In-house External Total
(IH) (EN)
No. of programmes 70 31 101
No. of people trained 2238 241 2479
Trg. Man-days achieved 1985 580 2565
Male employees trained 1674 171 1845
Female employees trained 564 70 634
SC/ST employees trained 378 52 430

Talent Development

At ITI Limited we believe in holistic development of not only ourproduct but also of our talent/employees to give them an edge over for their personal andprofessional growth. Given the trend of increase in technology and innovation globally ithas been always being important to us to nurture our employees through comprehensivetraining and development programs.

A skill is the capacity to perform an action satisfactorily on the job;well-honed skills and knowledge can establish a person as an authority in a given field.Employee performance is improved by skill when they have the essential training to dotheir jobs. Employees can develop these talents further through a training programme. Whennew technology procedures or systems are introduced trainings are used to re-educate andre-train staff members in order to ensure that they are meeting the specific needs oftheir respective positions. And also Employees may advance in their careers with the helpof employee development programmes.

Corporate HRED has taken advantage to organize the programmes/workshopswith the help from different govt. bodies like Department of Public Enterprises (DPE)Centre for Development of Advanced Computing (C-DAC) National TelecommunicationsInstitute for Policy Research Innovation & Training (NTIPRIT)/ Department ofTelecommunications (DoT) National Academy of Human Resource Development (NAHRD)Government e-Marketplace (GeM) etc. i.e. Training programmes/workshops organized by DPEduring FY 2021-22 under Research Development & Consultancies (RDC) scheme for thebenefit/well-being of our employees and the Company. With respect to webinars CorporateHRED hosted/ organized like MANAS - the HR Maturity forum CHINTAN - the Techno Brains andexternal free/paid webinars and new intervention like MANTHAN- Brainstorming Sessioninitiative for cross functional departments to improve & share knowledge in theCompany has been coordinated/organized by Corporate HRED department.

In addition to the above 241 officials have been nominated forexternal training programmes/workshops organized by various Govt. agencies & privateInstitutions in the most important areas to groom and develop their skills knowledgeattitude and new technology. These interventions help them to develop ability to managethe change drive for innovative ideas & approaches to enhance critical thinkingpositive attitude for building a high-performance work culture.

ii) Skill Development and Capacity Building:

Skill Development is significant in the overall development of anemployee.The personal development & learning skills of employee will not only increasethe opportunities but will also empower an individual. Skills like communication go a longway in aiding the overall development of students/trainees. Skill Development trainingsprovide significant benefits like; increase in employment opportunities increased careerdevelopment opportunities personal growth increases knowledge and understanding of localindustry.

The Company not only develops the skill sets of its own employees byimparting training through its HR-Employee Development Centers located at units but alsotrain and educate the young minds in vocational trades through summer training/ internshipprojects etc. Company has also ventured to provide theoretical and practical training toengineering management students as an endeavor to bridge the institution-industry skillgaps. The Finishing School trainings at Company's plants are doing yeoman services tothe students' community in the Country.

The Company is actively involved in imparting the Skill Developmenttraining in various modules of Telecom Skill Sector Council (TSSC)/ Electronics SectorSkill Council of India (ESSCI) and National Institute of Electronics & InformationTechnology (NIELIT) job roles and ITI Modules for various categories of students. As partof ‘Skill India' Flagship programme ITI started imparting Skill Development andCapacity Building training at various plants of ITI to youths/trainees/ students therebyenhancing their employability and increasing their employment opportunities andentrepreneurship.

ITI has been empanelled by Maulana Azad Education Foundation as ProjectImplementing Agency (PIA) and received an initial allocation/ target of 500 trainees fororganizing Skill Development Training programme under ‘Seekho aur Kamao'scheme of Ministry of Minority Affairs.

The following are some of the Job Roles in which ITI has imparted SkillDevelopment trainings like Retail Team Leader (Seekho aur Kamao under MoMA by MAEF)Broadband Technician (NSKFDC) etc. In addition to the above ITI is also engaging andimparting training to Graduate Engineers Diploma (Technicians) and Trade Apprentices invarious trades under the Apprentices' Act / National Apprentices Promotion Scheme(NAPS). Also as a part of capacity building the Company is imparting training to thestudents of Engineering / Management to carry out their Internship Project and Adoptionof ITI / Specialized Industrial Trainings.

Course-wise number of participants imparted Skill Development trainingduring the FY 2021-22:

Sl. No. Name of Skill Development Scheme No. of participants
1 ITI Trade Apprentices (NAC) 69
2 Diploma Technician Apprentices 15
3 Graduate Engineer Apprentices 22
4 In-Plant/Internship Training (ITIL module) 253
5 Project Training (ITIL module) 83
6 Special Industrial Training (ITIL module) 69


All Units/Marketing services and Projects ("MSP") of theCompany have established "Check-Points" in their departments to make effectiveimplementation of the Official Language Policy. Monitoring is being done by the respectiveOfficial Language Implementation Committee (OLIC) constituted in every Unit/MSP.

The Progress of Implementation of Official Language in corporate officeas well as in all Units/MSP is being periodically reviewed by the OLIC of corporateoffice.

Units/MSP at Naini Rae Bareli Mankapur New Delhi Mumbai Lucknow& Corporate Office have been notified in the Gazette of Government of India under theOL Rules 10(2) & (4) 1976 as more than eighty percent (80%) of the staff had workingknowledge of Hindi in these Units/MSP.

The Corporate Office is regularly sending the Quarterly ProgressiveReport to the Ministry of Communication Department of Telecommunication New Delhi aswell as Dy. Director (Implementation) Regional Implementation Office Bengaluru. We havealso sent Half Yearly Hindi Progress report to Secretary Town Official LanguageImplementation Committee (Undertaking) (TOLIC) Bangalore and Annual Assessment Report toMinistry of Communication Department of Telecommunication New Delhi. After reviewing ourquarterly report & Annual report Corporate Office has been receiving appreciationletter for the last one year from Deputy Director (Implementation) RegionalImplementation Office Bangalore.

On 25th-26th October 2021 Shri Ramanuj DeyDeputy Secretary (OL) & Shri. P.C. Vishwakarma consultant (OL) Ministry ofCommunication Department of Telecommunication New Delhi has inspected ITI limitedRegistered & Corporate office of Official language department in connection ofofficial language policy implementation.

After inspection an appreciation letter received in the review reportsent to the Chairman and Managing Director by Shri. Ramanuj Dey Deputy Secretary (OL)Department of Telecommunication New Delhi.

The Company has published Hindi House Magazine "SANCHARPRAGATI" for the first time and the first issue was released on 22nd March2022 by Chairman and Managing Director of ITI limited Shri. Rakesh Mohan Agarwal in thepresence of all the members of the official language implementation committee and editor/members of the Magazine.

In order to enhance working knowledge of Official Language ofemployees internal training programs are conducted with support of internal/externalfaculties. Besides employees are also encouraged to take part in Hindi Prabodh PraveenPragya & Parangat examinations for which financial incentives are given to qualifiedemployees.

"Hindi Fortnight" was organized in the year 2021-2022 in allthe Units and MSP offices and various events were organized for employees during thisfortnight. Employees of Units/MSP also participated in the "Joint Hindi Month"competitions organized by Town Official Language Implementation Committee (Undertaking)Bangalore and won approx. 03 awards. Bilingual (i.e English and Hindi) website of thecompany is being regularly updated.


The vigilance department of ITI Limited focuses on preventive vigilanceto identify deficiencies in the system if any and advise the management on streamliningthe systems to prevent recurrence. The complaints received also are being investigated andbrought to a logical conclusion.

I. System Improvements

The details of system improvements effected based on preventivevigilance and investigations of complaints are as below :

a. Recruitment

The deficiencies w.r.t notification and the selection process wereidentified and advisories on the same to prevent recurrence of deficiencies in thesensitive recruitments were issued.

b. Security of factories

To strengthen security system in the factories of ITI at variousplaces a detailed review was done and details of deficiencies and guidelines forrectifying the same were issued to management.

c. Procurement of goods and services

The Materials Management Manual which was revised in 2016 was reviewedand the revised manual with latest guidelines and policy of the Company was completed andthe draft is in the advance stage of acceptance by the management for compliance alongwith relevant DOP.

d. Works contracts for execution of projects

To overcome the deficiencies/discrepancies observed in the contractsbeing entered into and executed on various projects a detailed advisory covering Pretender Tender stage tender evaluation and Post tender execution was issued.

e. Leveraging of technology

The implementation of E Payment E tender Procurement through GEM andimplementation of ERP was taken up as a regular review items in vigilance review with themanagement and quantum improvements was achieved on the same.

f. Disposal of overaged materials and Plant & Machineries

Detailed review of the huge accumulation of obsolete/unserviceablematerials and Plant & Machinerie which were accumulated over the past two decades wastaken up and disposal of the same is under process. This not only generates revenue ondisposal but also reduces the expenses to maintain the inventory and release the space foralternate use in the unit. ii. Details of vigilance Complaints monitoring

The complaints received are being reviewed by vigilance organisationand whichever complaint requires investigation the same are taken up duly following CVCguidelines. The details of vigilance complaints received and processed at ITIL during theyear is as below

Status of Vigilance Complaints - 2021-22

Opening Balance Received during 2021-22 Total Disposed Pending Cases with Nature of Complaints
6 27 33 25 8 (Contract -4)


During the FY 2021-22 451 applications under RTI have been receivedincluding 48 RTI applications carried forward from previous years. Information wasprovided for 460 RTI applications. The Central Information Commission ("CIC")has online RTI portal for filing online RTI requests for seeking information forconvenience of the applicants. Out of the 460 replies information was provided online for210 cases. All cases referred to CIC by the applicants as Second Appeals have beensuccessfully addressed and complied. Quarterly online RTI returns were uploaded on the CICportal and also same information were published on the Company website.



M/s. GRSM & Associates Chartered Accountants Bengaluru wereappointed as Statutory Auditors for 2021-22 by Comptroller & Auditor General of India(C&AG) for Bangalore Plant NS Unit Corporate Office 8 Regional Offices andConsolidation of accounts. They will hold office till conclusion of the ensuing AnnualGeneral Meeting. C&AG is in the process for appointment of Statutory Auditors for theyear 2022-23.

The Statutory Auditors have been paid a total remuneration of Rs 12.85lakhs towards audit fees certification and other services. The above fees are excludingof taxes re-imbursement of travelling and out of pocket expenses.


Auditors' Report on the annual accounts for the financial year2021-22 and the comments of the C&AG under Sec 143(6)(b) of the Companies Act 2013 onthe Annual accounts are appended to this report. Reply to observations of StatutoryAuditors and C&AG are attached as addendum to this report.

During the year 2021-22 there has not been any fraud reported by theStatutory Auditors of the Company.


The following firms of Chartered Accountants were appointed byComptroller and Auditor General of India as Branch Auditors for different plants of theCompany for the year 2021-22.

Sl No. Unit Name of the Firm
1. Rae Bareli M/s. Mehrotra Kapoor & Tandon Rae Bareli
2. Naini M/s. G K Arora & Associates Allahabad
3 Mankapur M/s. S K Associates Faizabad
4. Palakkad M/s. Argee & Co Palakkad
5 Srinagar M/s. Mohammad Qasim & Co Srinagar

The fees paid to Branch Auditor for Rae Bareli is Rs 1.63 Lakhs NainiRs 1.16 lakhs Palakkad Rs 1.34 lakhs Mankapur Rs 1.18 lakhs and Srinagar Rs 0.20 lakhstowards audit fees certification and other services. The above fees are excludingapplicable taxes re-imbursement of travelling and out of pocket expenses.


The Company maintains cost records as required under the provisions ofthe Companies Act. The Company had appointed M/s. GNV & Associates Bengaluru as leadCost Auditors for the year 2021-22 for the cost audit of units located at Bengaluru andPalakkad and also for consolidation of Cost Audit Reports of the Company as a whole.

M/s. Aman Malviya & Associates Lucknow were appointed as BranchAuditors for cost audit of units located at Naini Rae Bareli Mankapur and Srinagar.

A remuneration of Rs.316000 inclusive of GST as applicable was fixedby the Board for payment to the Cost Auditors for 2021-22 which was ratified by theshareholders in the last Annual General Meeting held on 10.11.2021. The cost audit reportfor the year 2020-21 was filed with Ministry of Corporate Affairs.


The Board had appointed Shri D Venkateswarlu Company Secretary inPractice to conduct the Secretarial Audit of the Company for the year 2021-22. TheSecretarial Auditor in his report have stated that during the period under review theCompany has complied with the provisions of the Acts Rules Regulations guidelinesstandards except for those observations mentioned in Secretarial Audit Report which isappended as Annexure-2. The reply of management to observations of SecretarialAuditor is attached as addendum to Directors report.


The Internal Audit is conducted by Company's Internal Audit teamheaded by professional personnel at Corporate Office and at Units. The reports of InternalAudit department indicating the status of compliance with internal control system of theCompany is periodically reviewed by Audit Committee. The Audit Committee alsoperiodically interacts with the internal and statutory auditors including Branch auditorsto assess the adequacy of internal control systems.

As per Auditor's opinion Company have in all material respectsan adequate internal financial controls system over financial reporting along with thefindings expect of the observations referred in Annexure- B to the IndependentAuditor's Report and such internal financial control were operating effectively as on31st March 2022 based on the internal control with reference to the FinancialStatements criteria established by the Company considering the essential components ofinternal control stated in the Guidance Note of Audit of Internal Financial Controls overFinancial Reporting issued by the Institute of Chartered Accountants of India.


ITI is committed to the Communities around its business and far beyondthrough its CSR initiatives. The Company meticulously took care of its socialresponsibility and spent Rs 99.09 lakhs during the Financial year 2021-22 and Rs 11.46lakhs is being transferred to PM Cares Fund.

Annual Report on CSR activities including the composition of CSRCommittee is enclosed as Annexure-3 to the report.

The details of the CSR policy projects and programmes are available onthe website of the Company on at


As on 10th August 2022 there are Seven Directors on theBoard of the Company of which Three are Whole Time Directors (including Chairman andManaging Director) One is Government Director and Three Non Official Part Time Directors(Independent Directors).


During FY 2021-22 following Independent Directors have completed theirterm : 1. Shri Rajen Vidyarthi on 07th August 2021 2. Dr Akhilesh Dube on 07thAugust 2021 3. Shri Mayank Gupta on 12th August 2021

4. Dr K R Shanmugam on 29th August 2021

The Government of India vide order dated 01st November 2021appointed following Independent Directors for a period of three year w.e.f. 10thNovember 2021 :

1. Dr Raja Nayak 2. Shri Billeswar Sinha 3. Smt Mamta Palariya

The Company has received the Certificate of Independence from theIndependent Directors confirming that they meet the criteria prescribed for IndependentDirectors under the provisions of the Companies Act 2013 and SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 (Listing Regulations). The IndependentDirectors have confirmed that they are registered with the Database maintained by theIndian Institute of Corporate Affairs (IICA) under the Ministry of Corporate Affairs

In terms of the provisions of Schedule IV of the Companies Act 2013the terms and conditions of appointment of Independent Directors are posted on the websiteof the Company. Further the Independent Directors are not liable to retire by rotationunder the provisions of Section 152 of the Companies Act 2013.

During the year under review a separate meeting of IndependentDirectors was held on 07th August 2021 in which all the Independent Directorswere present.


The following are changes in Government Directors:

1. Lt Gen Milind N Bhurke PVSM VSM Signal Officer – in Chiefwas appointed as Government Director w.e.f 07th May 2021 upon obtaining DIN.

2. Dr Rajesh Sharma was re-appointed as Government Director w.e.f. 01stAugust 2021.

3. Lt Gen Milind N Bhurke PVSM VSM Signal Officer- in Chief andGovernment Director ceased to be the Director of the Company consequent to hissuperannuation on 30th June 2022.


The following are the changes in Functional Directors :

1. Shri Shashi Prakash Gupta ceased to be the Director HR uponattaining the age of superannuation w.e.f. 30th June 2021.

2. Shri Rakesh Mohan Agarwal Chairman and Managing Director wasentrusted with additional charge of Director HR w.e.f 02nd July 2021 to 30thSeptember 2021

3. Shri D Venkateswarlu Director Production was entrusted withadditional charge of Director HR w.e.f. 29th December 2021

4. Shri Rakesh Mohan Agarwal ceased to be Chairman and ManagingDirector of the Company upon attaining the age of superannuation w.e.f. 30thJune 2022

5. Shri D Venkateswarlu Director Production assumed Additional Chargeof Chairman and Managing Director w.e.f. 07th July 2022

The Board wish to place on record its whole hearted appreciation forcommendable contribution and guidance rendered by the Directors whose term of office endedduring the year.

Shri Rajeev Srivastava Director Finance retires by rotation at theforthcoming Annual General Meeting and being eligible offers himself for re-appointment.


During the financial year 2021-22 apart from functional directorsChief Financial Officer and Company Secretary continues to hold the post of Key ManagerialPersonnel of the Company.


During the year under review 7 (Seven) Meetings of the Board ofDirectors were held. The details of meetings attended by each director are provided in theCorporate Governance Report.


As on 31st March 2022 the Audit Committee comprised 4(four) Members out of which 3 (three) were Independent Directors and 1 (one) was aFunctional Director. During the year 06 (six) Audit Committee Meetings were held detailsof which are provided in the Corporate Governance Report.

There have been no instances during the year when recommendations ofthe Audit Committee were not accepted by the Board.


As per the provisions of Section 134(3)(p) of the Companies Act 2013a listed entity is required to include a statement indicating the manner of formalevaluation of performance of the Board its Committees and of individual Directors.However the said provisions are exempted for Government Companies as the performanceevaluation of the Directors is carried out by the Administrative Ministry i.e. Ministry ofCommunications as per laid down evaluation methodology.

With regard to formulation of criteria for appointment of Directors onthe Board being a Government Company Government of India does the criteria forselection appointment and terms and conditions of appointment including remuneration ofthe directors.


During the year the Board of Directors in its meeting held on 22ndJune 2021 approved the Enterprise Risk Management Manual. The Company has a RiskManagement Committee (‘RMC') to frame implement and monitor the risk managementplan for the Company. The Committee had revamped its Enterprise Risk Management Manual– Policy & Framework with an objective to ensure that the Company has proper andcontinuous risk identification and management process. Risk Management is being practicedby the Company in all units and the possible risks associated with the business areidentified and mitigation plans are evolved. Besides Risk Prioritization the Roles andresponsibilities of all the sub committees (below board level) have been clearly defined.

The details of Committee and other details are set out in the CorporateGovernance Report and a detailed note on Risk Management is provided in the ManagementDiscussion and Analysis Report.


Details regarding Vigil Mechanism is provided under CorporateGovernance report which forms part of this Annual Report.


Government Companies are exempted from complying with provisions ofSection 197 of the Companies Act 2013. Therefore such particulars have not been includedas part of Directors' Report.


A separate section on Business Responsibility report and ManagementDiscussion and Analysis Report as required under Listing Regulations has been includedin the Annual Report as Annexure- 4 & 5 respectively and the same forms part ofthe Directors' Report.


The report on Corporate Governance on the compliance of CorporateGovernance conditions stipulated in Listing Regulations and the DPE guidelines forms partof Directors report. The Certificate on the Compliance of above Corporate GovernanceConditions from Practicing Company Secretary also forms part of Directors' report.


In accordance with the Companies Act 2013 the annual return isavailable on the Company's website at


All related party transactions entered during the year 2021-22 were inordinary course of the business and are on an arm's length basis.

The Company has formulated a Policy on Related Party Transactions whichis available on the Company's website at

The disclosure of related party transactions as required under Section134(3)(h) of the Companies Act 2013 in Form AOC 2 is not applicable to the Company.Members may refer to note no. 32 to the financial statement which sets out related partydisclosures pursuant to IndAs 24.


There have been no material changes and commitments affecting thefinancial position of the Company between the end of the financial year and the date ofthis report. There has been no change in the nature of the business of the Company.


During FY 2021-22 there was no order or direction of any court ortribunal or regulatory authority which either affecting Company's status as a goingconcern or significantly affecting Company's business operations.


The Board of Directors confirm that

(a) In the preparation of the annual accounts for the financial yearended 31st March 2022 the applicable accounting standards had been followedalong with proper explanation relating to material departures;

(b) Such accounting policies have been selected and appliedconsistently and judgments and estimates have been made that are reasonable and prudent soas to give a true and fair view of the state of affairs of the Company at 31stMarch 2022 and of the profit of the Company at that date;

(c) Proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of Companies Act 2013 forsafeguarding the assets of the Company and for preventing and detecting fraud and otherirregularities;

(d) The annual financial statements have been prepared on a goingconcern basis;

(e) Proper internal financial controls were in place and that thefinancial controls were adequate and were operating effectively; and

(f) That systems to ensure compliance with the provisions of allapplicable laws were in place and that such systems were adequate and operatingeffectively.


There are no transactions of Loans Guarantees and Investments coveredunder the provisions of Section 186 of the Companies Act 2013.


During the year 2021-22 M/s Emdee Digitronics Private Limited filed anapplication u/s 9 of the Insolvency and Bankruptcy Code 2016 before NCLT BengaluruBranch. On the last date of hearing on 03rd August 2022 Counsels for bothparties submitted before the Bench that a Joint Memo for withdrawal of the applicationwill be filed. Hon'ble Bench heard both sides and posted the matter to 11thAugust 2022.

There are no other applications made or any proceeding pending againstthe Company under Insolvency and Bankruptcy Code 2016 (31 of 2016) during the financialyear.


There are no instances of one-time settlement during the financial year2021-22.


The expenditure on entertainment was Rs. 2.58 lakhs (PY Rs.0.56 lakhs).Expenditure on official travel abroad by the officials of the Company was NIL during theyear.


Citizens are implied as any stakeholder of the ITI Limited (ITI)extending from Employees Customers Vendors Investors Collaborators/JV PartnersCompetitors Media and Government to Society/community at large. The Citizen's Charterdoes not by itself create new legal rights but makes the citizens aware of their existingrights.

ITI Citizen's Charter outlines its scope and contains generalinformation about the Company Citizens' obligations towards the Company and themanagement's commitment towards the citizens. It also contains Grievance RedressalMechanism and Citizens' Service Delivery.

The Charter exhibits the organization's ability to provide qualityproducts and efficient services to the citizens while meeting the legal and regulatoryrequirements. Continuous improvement of products and services is its aim for thesatisfaction of the stakeholders. The Citizen Charter of the Company is available on thewebsite at


Particulars with respect to Conservation of Energy TechnologyAbsorption and Foreign Exchange Earnings and Outgo required to be disclosed under theSection 134 of the Companies Act 2013 read with Rule 8 of Companies (Accounts) Rules2014 is appended as Annexure 6.


Procurement Policy for Micro and Small Enterprises Order 2012 read withamendments made thereunder is being followed by all the Units of the Company. The annualtarget set for MSME procurement is 25% in FY 2021-22. The Company has achieved a decenttarget of 58.90% of total annual procurement through our MSME vendor during 2021-22. Totalprocurement value through MSME vendors was Rs 633.12 Crore.