Datamatics Global Services LTD.: Stocks
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11:42 AM | 29 JUL
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BSE LIVE
11:42 AM | 29 Jul 2016
74.70
Change:
6.85(10.10%)
Volume:
127,640
Open:
68.85
Prv. Close:
67.85
Today:
68.50
75.80
52-Wk:
41.15
77.75
Bid:
74.60(58)
Offer:
74.75(99)
NSE LIVE
11:43 AM | 29 Jul 2016
74.70
Change:
6.70(9.85%)
Volume:
350,860
Open:
69.00
Prv. Close:
68.00
Today:
68.20
75.95
52-Wk:
40.10
77.85
Bid:
74.60(50)
Offer:
74.70(50)
You can view full text of the Director's Report for Datamatics Global Services Ltd.
Director Report
Print
Mar2014 Mar 2015
Dear Members,
On behalf of the Board of Directors, I am happy to present the 27th
Directors'' Report of your Company with the Balance Sheet and Profit &
Loss Account for the year ended March 31,2015.
FINANCIAL PERFORMANCE
Your Company''s financial performance for the year ended March 31,
2015 as compared to the previous financial year ended March 31,2014 is
summarized below:
Particulars
(Rs in Million)
Consolidated
2014-15 2013-2014
Income
8,347
7,411
Interest
68
850
210
936
161
640
775
155
194
485
581
Tax on Dividend
901
1,332
Dividend
976
40
Depreciation
918
77
1,073
25
116
15
586
20
30
47
1,185
890
(Rs in Million)
Standalone
2014-2015
2013-2014
Income
1,965
2,224
426
51
16
375
Depreciation
84
291
Profit Tax
550
65
485
38
70
253
415
1,242
1,495
18
Dividend
74
59
948
1,362
Tax on Dividend
566
25
1,385
41
1,242
CRISIL RATINGS
a subsidiary of S&P, has reaffirmed "A1 " credit rating for 3rd
year in succession on the total bank loan facilities of the Company.
This rating signifies that your Company has a strong degree of safety
regarding timely payment of financial obligations. This rating
reaffirms the financial stability and the low risk profile of the
Company.
DIVIDEND
During the year, your Board of Directors had declared and paid an
interim dividend of Rs. 0.35 per equity share (7%).
TRANSFER TO RESERVES
The Company has transferred Rs. 30 million to the General Reserve from
the amounts available for appropriation. An amount of Rs. 1,185 million
is proposed to be retained in the Profit and Loss Account.
The Company has not accepted any fixed deposits during the year.
SUBSIDIARY COMPANIES
The Company has the following Indian subsidiaries (including the step
down subsidiaries) as on March 31,2015:
The Company has the following overseas subsidiaries (including the step
down subsidiaries) as on March 31,2015:
@ Dissolved and struck off from the Register of Companies, BVI w.e.f.
March 23, 2015.
During the year, the Board of Directors reviewed the performance and
financial position of the subsidiaries. Pursuant to the provisions of
Section 136 of the Companies Act, 2013 the financial statements of the
Company including consolidated financial statements along with the
relevant documents and separate audited financial statements in respect
of subsidiaries are available on the website of the Company. A
statement containing salient features of the financial statements of
the Company''s subsidiaries in "Form AOC-1" is annexed to the
financial statements of the Company.
Tier II cities are the most favored destination of highly costsensitive BPO service providers. As a business strategy, major BPO
players have been moving to and expanding their operations in Tier II
cities. Datamatics was early to realize this business imperativeness
and set up its first Tier II delivery centre at Nashik during July 2007
followed by the Puducherry site in October 2011. These initiatives have
helped the Company leverage on the vast untapped talent pool at these
locations as compared with Tier I cities while simultaneously keeping
the attrition within manageable limits.
Puducherry
Nashik
After successfully executing all our BPO service lines, the site is
currently gearing up to tap the IT talent potential of Nashik.
Datamatics is among the top 10 Employers at Nashik. The Company has
been set up to employ locals in IT & BPO sector. The 55,000 sq. ft.
state-of-the-art-facility is the single largest
The Company made significant progress in the last fiscal year in key
accounts, owing to efficient execution of projects. In the current
fiscal year, we plan to continue to maintain focus on select verticals
which include BFSI, eRetail, International Organizations,
Manufacturing, Publishing and Transport. We will continue to offer IT &
BPO offerings and also the new age disruptive technologies which
include SMAC and BPM offerings, to deliver next generation solutions to
our global customers, using Open Source platforms as well as
proprietary technologies.
Digital Transformation
Our strategic focus during the last 18 months to invest in the upcoming
technological advancements have positioned us well to capture the new
growth opportunities in the Digital Transformation space. Today,
Datamatics team is well placed to help its clients to transform into a
truly digital, data-driven enterprise and empower them to take
advantage of the digital revolution to innovate, differentiate and
grow. Datamatics team can help its clients to formulate their Digital
Strategy; define their mobile strategy; create solutions for their
customers and their employees that provide access to applications from
anywhere on any device.
Data-to-Intelligence
QUALITY
Your Company is the first and the only I.T. Company to have won the
"International Asia Pacific Award" for Quality in Services sector.
The Award was won against competition from hundreds of companies from
38 countries spread across the world, including the US, Japan,
Australia, New Zealand, Russia, Canada, China, Israel, South Korea,
Peru and Mexico. Your Company also won the prestigious "IMC IT Award
for Quality" in January, 2014. Further significant initiatives of
your Company towards quality are:
The Company has about 18 Six Sigma Green Belt and 25 Six Sigma White
Belt certified professionals along with 3 Six Sigma Black Belt and 1
Six Sigma Master Black Belt certified professionals. The Company spent
over 4500 person hours of training around continuous improvement in the
last financial year.
2) Certifications
We use a Delivery Index to measure and compare the performance for each
Line of Business (LOB). It incorporates the three key indicators of
performance of any project viz Quality, Effort and Schedule adherence
and a stop light (red-amber-green) dashboard is used to display the
performance.
The PE Cell had a good year since some of the solutions based in i-Q
and i-Bridge (earlier Robokey) got a very favorable response from BFSI
sector. The solutions devised for trade finance operations and tab
based KYC compliance for Banks were adopted by a leading private sector
Bank of India. With their reference many other banks are following
suite.
Your Company currently has 17 copyrights registered till date for its
proprietary processes and various logos. It has also registered 36
proprietary logos as Trade Mark and Service Mark in India, UK, USA,
Australia, China, Norway, Switzerland, EU and its 28 member countries.
The Eagles@Datamatics Program Phase VII was flagged off in April 2014,
with 36 Eagles & 23 Game Changers. This team was mentored by 6 senior
members and a strong leadership team. The duration of the program was
7 months. The objective of Eagles VII team was to enhance footprints
within existing clients with the help of Game Changers. This helped the
organization in creating passion and zest among all the team members.
The team members explored and enhanced their creativity,
resourcefulness, bonding, accountability, influencing skills and belief
in themselves. This phase of the Eagles was regarded as the most
1) Blended Learning
Training via the WebEx Training tool: The L&D team has expanded their
horizons for training execution to be done via WebEx for employees
across the organization. With the help of the tool L&D is able to
address the global learning audience with ease and also large audiences
effectively. This helps the L&D teams to execute training and
participants to participate in training from any location. It''s a
win-win situation for all the parties involved. The L&D team
records the training for future usage and executes the pre- recorded
training via WebEx. Recorded WebEx training is made available to
employees as and when they feel the need to revisit any training in
case they have missed this during the live session. This has imbibed a
continuous learning attitude amongst the employees.
L&D team supported to create a new language skill set on both Italian &
German language - Level 1. The employees were trained and all of them
successfully completed the Level 1 certification.
Being a Registered Education Provider for PMP, a 5-day PMP training was
scheduled in Mumbai, MIDC premises for those engaged in an activity
that contributes to the management of a project, portfolio, or program,
as part of the project management profession.
With all the above, the L&D team has clocked 240,337 man-hours in the
year 2014-2015 as compared with 210,515 man-hours in the year 2013-2014
with an average feedback of 4 out of 5.
Our Company has rich diversity in its employees with a common aim to
excel. A culture of cooperation and solidarity is infused by
celebrating National holidays and festivities such as Independence &
Republic Day, Diwali, Dandiya & Christmas. Initiatives such as JOSH,
where employees offer their innovative ideas help to unleash their
creativity, maintain a balance between work & life and create a deep
sense of bonding among employees.
LoBH. Personal notes are inscribed on the NOTEivate cards by the LoBH
are presented to all the awardees.
Praise for Performance: This program aims to recognize the hard working
employees who have received client appreciation. It aims to recognize
the efforts of employees in front of a larger audience to induce a
sense of pride and contentment.
- Datamatics entered the Leader Category for the 2014 IAOP Global
Outsourcing 100;
- Dr. Lalit Kanodia, Chairman & Whole time Director received the
prestigious ''Asia Pacific Entrepreneurship Award'' under the Special
Achievement category;
- Mr. Rahul Kanodia, Vice Chairman & CEO, was felicitated with ''CEO
of the Year'' award at the Asian Leadership Awards held in Dubai;
- Mr. Rahul Kanodia, Vice Chairman & CEO was presented with the ''IT
Leadership Award'' at the National Awards For IT Excellence.
SHARE CAPITAL
Retirement by rotation
Independent Director
Dr. Lalit S. Kanodia was appointed as a Chairman & Whole Time Director
of the Company for a period of five years with effect from May 15,
2010. On the recommendation of the Nomination & Remuneration Committee,
the Board of Directors at its meeting held on May 27, 2015, has
re-appointed Dr. Lalit S. Kanodia as a Chairman & Whole Time Director
of the Company for a further period of five years with effect from May
15, 2015, subject to the approval of the members.
PARTICULARS OF EMPLOYEES
Five meetings of the Board of Directors were held during the year. For
further details of the meetings of the Board, please refer to the
Corporate Governance Report, which forms part of this Annual Report.
The performance of the Board was evaluated by the Board after seeking
inputs from all the directors on the basis of the criteria such as the
Board composition and structure, effectiveness of board processes,
information and functioning, etc. The performance of the committees was
evaluated by the Board after seeking inputs from the committee members
on the basis of the criteria such as the composition of committees,
effectiveness of committee meetings, etc.
The Board and the Nomination and Remuneration Committee reviewed the
performance of the individual directors on the basis of the criteria
such as the contribution of the individual director to the Board and
committee meetings like meaningful and constructive contribution and
inputs in meetings, etc. In addition, the Chairman was also evaluated
on the key aspects of his role.
(i) in the preparation of the annual accounts for the year ended March
31,2015, the applicable accounting standards read with requirements set
out under Schedule III to the Act, have been followed and there are no
material departures from the same;
(ii) they have selected such accounting policies and applied them
consistently and made judgements and estimates that are reasonable and
prudent so as to give a true and fair view of the state of affairs of
the Company at the end of the financial year and of the profit of the
Company for the year ended on that date;
(iii) they have taken proper and sufficient care for the maintenance of
adequate accounting records in accordance with the provisions of the
Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities;
(vi) they have devised proper systems to ensure compliance with the
provisions of all applicable laws and that such systems are adequate
and operating effectively.
AUDITORS
Statutory Auditors
Secretarial Auditor
1) Statutory Auditors:
2) Secretarial Auditor:
CORPORATE GOVERNANCE
Audit Committee
Details of the shares issued under Employee Stock Option Plan (ESOP),
as also the disclosures in compliance with Section 62 of Companies Act,
2013 and Rule 12 of Companies (Share Capital and Debentures) Rules,
2014 and SEBI (Share Based Employee Benefits) Regulations, 2014 and
SEBI (Employees Stock Option Scheme and Employees Stock Purchase
Scheme) Guidelines, 1999 are annexed as "Annexure - C" to this
Report.
In line with the requirements of the Companies Act, 2013 and the
Listing Agreement, your Company has formulated a Policy on Related
Party Transactions which is also available on Company''s website at
http://www.datamatics.com/investors/ corporate-governance. The Policy
intends to ensure that proper reporting, approval and disclosure
processes are in place for all transactions between the Company and
related parties.
Your Company operates in SAP, an ERP system, and has many of its
accounting records stored in an electronic form and backed up
periodically. The ERP system is configured to ensure that all
transactions are integrated seamlessly with the underlying books of
account. Your Company has automated processes to ensure accurate and
timely updation of data in the underlying ERP system.
WHISTLEBLOWER/VIGIL MECHANISM
other unfair practice being adopted against them. The Company has also
provided direct access to the Chairman of the Audit Committee on
reporting issues concerning the interests of employees and the Company.
RISK MANAGEMENT
A. CONSERVATION OF ENERGY:
i) Our Company being in IT & ITeS industry, our operations are not
energy intensive. Adequate measures have been taken to conserve energy.
ii) The Company has not taken any steps for utilising alternate sources
of energy.
B. TECHNOLOGY ABSORPTION:
ii) Your Company has not imported any technology during the year under
review.
Place : Mumbai
Date : May 27, 2015
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