CAMSAnnualReport 2020 2021

A
Legacy of
Commitment
ANNUAL REPORT 2020-21
Computer Age Management Services Limited
What lies ahead…

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Corporate Overview Statutory Reports Financial Statements
02 Key Business Highlights 37 Notice 112 Independent Auditors’
03 Financial Highlights 60 Board’s Report Report on Standalone
Financial Statements
04 Chairman’s Message 81
Corporate
Governance Report 120
Standalone Financial
05 CEO’s Message Statements
99 Management
08
CAMS – a Legacy 171
Independent Auditors’
Discussion and Analysis
Rooted in Trust Report on Consolidated
104 Business Financial Statements
10 Corporate Structure
Responsibility Report
15 A Legacy of Strengths 178
Consolidated Financial
Statements
17
Committed to Customer
Convenience
22
Committed to People
Empowerment
25
Committed to
Community Service
29 Awards & Accolades
30 Board of Directors
32
Consolidated -
Financial Highlights
33
Standalone -
34 Leadership
35 Corporate Snapshot
Forward-Looking Statements
This Annual Report consists of forward-looking information to enable investors to
understand our prospects and make investment decisions. This report and other
statements written and oral – that we periodically make, may contain forward-
looking statements that set out projected results based on the management’s plans
and assumptions. We have tried, wherever possible, to identify such statements by
using words such as ‘anticipate’, ‘expects’, ‘plans’ and words of similar substance in
connection with any discussion relating to future performance. We cannot guarantee
that these forward-looking statements will be realised, although we believe we have
been prudent in our assumptions. The achievement of results is subject to risks,
uncertainties and there are chances that the assumptions might be inaccurate.
Should known or unknown risks or uncertainties occur, or should underlying
assumptions prove to be inaccurate, actual results could vary materially from those
anticipated, estimated or projected. We request our readers to keep this in mind. We
accept no obligation to publicly undertake any forward-looking statement, whether as
To get the report downloaded or a result of new information, future events or otherwise. The Company has sourced
for any other information, industry information from the publicly available resources and has not verified those
log on to www.camsonline.com information independently.
D 33rd Annual Report 2020-21

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CORPORATE OVERVIEW STATUTORY REPORTS FINANCIAL STATEMENTS
CAMS’ journey is driven

by 33 years of extensive
experience and a strong
core of expertise in its niche
domain areas.
It is powered by its unwavering dedication to

serve clients, customers and the ecosystem
with the highest levels of convenience
and safety.
The Company’s strategic approach is
propelled by robust technology, digital
innovations and a comprehensive risk
management framework.
It is underlined by a rich heritage of service
excellence. And led by a formidable legacy of
resolute commitment – to all its stakeholders!
The legacy of commitment

has shaped CAMS as a
Credible and Trusted brand
focussed on long-term,
sustainable growth.
33rd Annual Report 2020-21 01
Key Business Highlights

Watershed moments in CAMS history
• Rs. 2,250 crore IPO • Raised Rs. 600 crore • CAMS serviced • Transaction volumes
(OFS) launched in from 35 anchor AuM (Assets under scaled new levels
September 2020, investors ahead of IPO Management) touched during the pandemic
subscribed 47 times. (OFS) the historic high of period and the
The share was listed Rs. 22 trillion, Company delivered
• CAMS made its debut
in BSE on October 01, representing share of a high degree of
on National Stock
2020 at an opening approximately 69% of operational robustness
Exchange (NSE) on
price of Rs. 1,518 per the Indian Mutual Fund & client satisfaction
May 07, 2021 and
share industry
started trading at
Rs. 2,219 per share • CAMS serves all Top
5 Asset Management
Companies in India
Other milestones
• CAMS Financial • Certificate of • MF Investor • Expansion into new
Information Services Registration awarded Satisfaction Survey, business for digital lien
Private Limited (‘CAMS as a Central Record- carried out in March on MF, Reconciliation
FIS’) a wholly-owned keeping Agency (CRA) 2021, indicated 95% platform, Onboarding
subsidiary of the for NPS (National investors are very platform for AIF/PMS
Company was awarded Pension System) by satisfied or satisfied customers seeing
the account aggregator PFRDA and platform with services offered market response
licence by the Reserve build is underway for by CAMS
Bank of India and is in Q3 – FY22 launch
• Cyber security posture
the process of setting
• CAMS Payment assessed by BitSight
up the infrastructure.
Services Private and rated at a score of
Over 15 enterprises
Limited (CAMSPay) 800 in 2020 the highest
have signed-up for
- Subsidiary level in the BFSI
CAMS finserv AA
incorporated for segment
services
carrying out payment
aggregator business
Digital milestones
• CAMS obtained the • myCAMS mobile • edge360 Mobile App
UIDAI approval to offer App for MF investors launched to enable
OTP-based Aadhaar touched 4 million distributors serve
eKYC to facilitate registered users investors on the go
digital onboarding of milestone
MF investors
02 33rd Annual Report 2020-21

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Financial Highlights FY21
Rs. 7,055 million Rs. 2,745 million

Revenue from PBT (Up 11.2%)
Operations
Rs. 2,053 million 38.7 %

PAT (Up 19.4%) Operating
EBIDTA
39.8 %
Return on Net
Worth

Chairman’s Message
Agency by PFRDA, launch of new
initiatives like Recon Dynamix
and deepening of offerings in the
Payments and Insurance space.
Your Company is guided by its core

value of putting its customers at
the centre of everything it does –
“Our Mission… Your Growth”. This
is reflected in the high scores in
customer satisfaction survey results
with 95.3% of satisfied & highly
satisfied investors & distributors and
Dinesh Kumar Mehrotra
an overall 90.5 NPS score.
Chairman
Your Company exited the year with

Dear Stakeholders, strong set of financial results and
operational performance. Looking
As I write this message, the country is important and relevant in the savings
and investment landscape. Your ahead, your Company sees immense
coming out of Corona second wave,
Company is an integral part of the opportunity to grow in its chosen
which was far more severe than the
industry, sitting at the heart of the areas of business and is investing in
first one. It is a crisis of the kind that
Mutual Fund ecosystem and is well the required skill sets and capabilities.
we have not seen in generations. I
positioned to grow with / ahead of This performance also reflects the
urge you to stay safe, get vaccinated
and keep your spirits up. Despite the the industry. confidence of the clients and investors
challenges and hardships that each in the company.
one of us has been dealing with, it is On the business front, your Company
weathered the pandemic very well. It On behalf of the Board of CAMS,
important to stay optimistic. The India
adapted quickly to a new operating I would like to thank MF investors,
growth story is predicated around
model that prioritised the health and distributors and all our customers who
domestic consumption and demand
wellbeing of its employees, while avail our services and have made
will revive and the economy is bound
enabling it to continue supporting its us what we are today. My heartfelt
to grow.
customers. During the initial phase gratitude to all the employees of
This is our first annual report after the of FY20 lockdown, Company had to CAMS Group for their resilience
Company has gone public. Company’s temporarily shut down many of its and hard work which enabled the
performance, both on the business front offices but scaled to provide Company to deliver in the most
front and in the stock market post near full scope services after the difficult circumstances. I also would
listing, has been gratifying. initial phase and quickly moved on to like to thank our shareholders who
business as usual by second quarter have reposed their faith in us. I would
As you are all aware, Company’s end of last financial year. also like to thank other Directors in
major business is that of providing the Board for their support and active
Registrar and Transfer Agency Despite FY 2020-21 being a pandemic participation in the Governance of the
services to the Indian Mutual Fund year, it proved to be a hectic period company.
industry. My view on the Mutual Fund with implementation of several
industry’s growth story remains strong. high-impact regulatory & tax-related Warm Regards,
With financialisation of household changes, acquisition of a large
savings continuing to deepen as new client in the MF space, getting Dinesh Kumar Mehrotra
a trend, Mutual Funds will remain selected as a Central Recordkeeping Chairman

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CEO’s Message
Responding to challenges
FY21 was, by all account, an
extraordinarily difficult year, with the
unprecedented COVID pandemic-led
crisis seriously impacting economies
and industries worldwide.
For the first time in the history of the

Company, we started work-from-
home operations in March 2020. We
moved with rapid agility to roll out
our Business Continuity Plan (BCP),
Mr. Anuj Kumar in order to meet SLAs and client
CEO commitments. This was done after
working through numerous design-
aspects of the new paradigm such
Dear Shareholders
as information security, availability of
I am pleased to present to you the order to steer the Company towards desktops and last-mile connectivity in
Company’s first annual report post greater achievements and delivering the houses of employees, including
a successful IPO launch which you to societal responsibilities. those who were at Tier 2 locations.
are aware was made in an extremely Closing and subsequent reopening
A milestone year of 270 front offices while adhering
challenging environment. The year will
to local laws was managed in a
go down as a truly memorable one in The enthusiasm with which our Initial
disciplined fashion while serving
the history of CAMS, as the pandemic- Public Offering (IPO) was received in
investors and distributors through
led environment did not hold us the market underscores the strength
alternate modes. As a result of our
back from pursuing our vision for the of CAMS, and its rich legacy of long-
agile response to the transforming
Company and achieve the aspirational term and sustained value creation for
situation, I am happy to share that
agenda that we had set for ourselves all its stakeholders. It also underlines despite the extraordinary difficulties
during the year. our continued commitment to our triggered by the pandemic, we stayed
customers, partners, distributors, on course to ensure that our MF
The legacy of commitment was built investors, shareholders and not in the customers and investors were not
on the strong foundation laid by the least our employees, who have made impacted and continued to get high
founder Mr. V Shankar whose vision it possible for us to realise our vision fidelity service without any expansion
in many ways is responsible for of inclusive, sustainable growth. in risk.
where the Company is today. I take
this opportunity to acknowledge his At the outset, I would like to thank all It is pertinent to share with you that the
pioneering vision and contribution to of them for their contribution to the Company delivered uncompromised
the Company. It gives us direction and success of the IPO, which opened on service levels despite the transaction
the drive to serve our customers and September 21, 2020, to an excellent volumes scaling to historic high of 86
investors in new and improved ways. response and was oversubscribed 47 million in Q4-FY21.
We have been focussed on enhancing times. This overwhelming response
investor & distributor experience, will enable us to further strengthen the I would like to thank my leadership
fortifying information security foundations of the edifice on which team and the entire workforce whose
practices, expanding the leadership we have built a robust organisation, commendable spirit of commitment
team, sowing seeds for new revenue designed for continuing and durable and energy helped face the
lines and enhancing governance in business growth. unprecedented situation head-on and

helped us deliver to the clients and Customer Satisfaction Institutional investors contributing to
regulatory commitments. I am proud Company’s core value is reflected in over 20% of transaction value in liquid
and thankful for their complete support its mission statement – “Our Mission… schemes for Mutual Funds serviced
and earnest cooperation. Your Growth” – i.e., investors, by us. Key automation-led process
distributors, clients, employees and enhancements in core processes
I am grateful for all the contribution were successfully completed, leading
every other stakeholder. One measure
and guidance provided by the Board to to visible benefits such as no-human-
that the Company truly cherishes
help us stride through this challenging touch processes, vastly reduced risks
is how our service recipients value
year and keep our commitment to the and near zero defects.
our services. The annual customer
various stakeholders we serve.
satisfaction survey, in which 22,000
respondents participated, shows Technology & Cyber security
I am thankful to the regulators for their
95.3% of participants rating their upgrade
guidance and responsive support.
experience after consuming our As technology became the driver
services as satisfied or very satisfied. from being an enabler in the new
Staying on course of
business environment, we made
performance Our market share, as measured by significant investments during the
Our strong focus on operational AAuM serviced by us as a percentage
year to upgrade our technology
excellence and financial prudence of industry AAuM was 69% as at
infrastructure and information security
enabled us to report positive March 2021. All the top five AMCs
standards. Having always considered
performance, marked by a historic and seven of the top 10 AMCs in the
business continuity of core processes
high in Assets under Management. country are being serviced by CAMS.
for the MF industry as critical to our
Average Assets under Management
business strategy, we relocated the
(AAuM) of CAMS serviced funds grew Digitalising to drive growth
third data centre to Mumbai in the
to 22.0 trillion in Q4 of FY21, enabling Driving our positive performance midst of COVID-related challenges
the Company to register a 19.4% was our fervent focus on technology in order to bring a significant lift to
increase in consolidated net profit to upgradation and digitalisation, as our BCP strategy. Our cyber security
Rs. 205.29 crore in FY21, as against tools to empower investors and posture has been reviewed by an
FY20. Revenue from operations rose intermediaries. As electronic & internationally renowned agency
0.8% year-on-year to Rs. 705.50 crore digital modes of transaction via BitSight, which has rated the
in FY21 over FY20. wealth management platforms, Company at an advanced score of
stock exchanges, AMC websites,
800 in FY21. This is a market-leading
Operational Excellence fintech platforms and our own
score and vindicates the robust
Focus on client delivery through portals increased with the onset of
security posture.
service and process innovations COVID (and the closure of customer
continued through the year. Several service centres), we heightened the
Expanding product outreach
automation initiatives, in the areas monitoring of electronic linkages,
of transaction posting, systematic APIs and the overall network in order In FY21, we embarked to significantly
transaction processing, reconciliation, to ensure uninterrupted powering of enhance our value proposition for
eKYC, brokerage computation and the electronic touchpoints. We also AIF / PMS segment across all areas
several others were carried out. These extensively educated and promoted of client services and operations and
are designed to deliver improved usage of digital conveniences via engage with clients as an end-to-
quality & productivity and offer our website and social media. The end, full stack service partner. In that
significant accretion to risk mitigation. launch of OTP-based Aadhaar direction, we launched two industry
eKYC, edge360 mobile app and impacting technology solutions viz.
During the year, we supported investor services using AI and Digital On-boarding platform for PMS
the Mutual Fund industry with ML technologies proved to be Advisors (and RMs) and Web portal
implementation of several high impact game-changing conveniences for for AIF/PMS Investors. Both of these
regulatory and tax-related changes. investors and intermediaries. Our are seeing positive market response.
The Company is participating in digital platforms continued to make We currently serve over 98 fund
regulatory initiatives on enhancing significant contribution to the digital houses across their 280+ schemes.
investor convenience and adoption momentum in the industry,
technological innovations like with myCAMS touching the 4 million CAMS Insurance Repository opens
creation of the industry sandbox. user base and GoCORP portal for e-Insurance Accounts for the insured,

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primarily in life insurance segment and during the year with a series of digitalisation and perception of Mutual
is expanding its reach to the non-life programmes for migrant labour, Funds as long-term wealth creators
& General Insurance segment as well. economically weak citizens in slums are likely to further contribute to the
In the technology-enabled processing and frontline health workers in growth of the industry. As a result of
service, it expanded service scope Chennai and Mumbai. our domain expertise, established
in the persistency business while the processes, technology-driven
Insurance Repository maintained its Driving long-term value infrastructure and marquee clients,
growth trajectory and now has more creation we are well positioned to capitalise on
than 3.3 million digital policies, aided such growth. We believe our market
As mentioned earlier, your Company
by our social media presence and leading position and our strengths
remains steadfastly focussed on
new digital communication strategy. adequately position us to increase the
creating and delivering long-term
number of our Mutual Fund clients and
value to all its stakeholders through
CAMSPay ACH business saw some enhance our value proposition for all
a holistic approach, centred on
depression in the revenue partly our stakeholders.
sustainable operations. To this end,
due to pandemic-led volume drop
we are continuously enhancing
and partly due to price compression. In conclusion
our ESG (Environment, Safety
However, there has been positive On this positive note, I once again
and Governance) focus, which we
traction in sign-ups and adoption to thank all of you on behalf of all
sharpened further during FY21 to
digital payment offering from tech-led employees of CAMS for your
enable a safe and secure business
financial entities. During the year, continued support and trust in the
environment for all our stakeholders.
RBI came out with regulations on Company and assure you that we
While effective risk management has
Payment Aggregators like CAMSPay shall remain focussed on being the
and application for registration has always been central to our strategic
preferred solutions partner for all our
been made through wholly-owned thrust, the complexities of the new
clients, with our differentiated services
subsidiary, CAMS Payment Services business norms triggered by the
and products, backed by powerful
Private Limited. pandemic led us to raise the bar
technological and digital support
even higher. We remain committed
systems and a committed workforce.
We expanded our product portfolio to continued efforts for mitigating/
And we are confident that, with your
during the year, to cater to the minimising the risks of our business
cooperation, we shall succeed.
evolving needs of our existing clients for our investors and clients and
and to expand our client base. Our shall continue to strengthen our risk Sincerely,
new service offerings Recon Dynamix management framework in the coming
and Digital Lien against Mutual quarters. Mr. Anuj Kumar
Funds have received good response. CEO
Account Aggregator platform, NPS Future outlook
Central Record Keeping Agency and Though FY22 started on a disruptive
Payment Aggregator services are the note as a result of the deadly second
new areas we are pursuing to expand wave of Coronavirus, the overall
our business in the emerging financial prospects of the Indian MF industry
infrastructure and platform-based look promising, with the vaccination
services arena. While continuing to roll-out raising hopes of an early
broaden and deepen our offerings, end to the pandemic. The short-
we exited businesses characterised term disruptions notwithstanding,
by slow growth and low profitability the industry is expected to grow
(outsourcing services to banking & in the long term at the back of
NBFC clients and German operations various drivers, including anticipated
of our software subsidiary). economic growth, a growing investor
base, higher disposable incomes and
Social responsibility an expanding investable surplus.
With the pandemic necessitating a Increasing aggregate household
bigger outreach to the vulnerable and financial savings, increase in
communities, we expanded the geographical penetration as well as
frontiers of our CSR programmes better awareness, ease of investing,

CAMS – a Legacy
Rooted in Trust
A registrar and transfer agent (RTA) for mutual
funds (MFs), CAMS is a technology-driven financial
infrastructure and services provider to Mutual Funds and
other financial institutions across India. Headquartered
in Chennai, CAMS has a pan-India network of service
centres, and digital connects designed to cater to the
evolving and complex needs of diverse clients.
Largest
Registrar and Transfer Agent
(RTA) of MFs 69%, market share
in AAuM
272
Service Centres pan-India
25 States
& 5 UTs
Wide Presence

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The Company’s business ethos is

led by its strong focus on customer
convenience, delivered on the back
of its domain expertise and digital
prowess, as well as quality systems
and processes. This has enabled it
to build long-term relationships with
customers, manifesting in its 19 years
of average relationship with the 10
large MF clients.
Listings
BSE: 543232
NSE: CAMS
CAMS has a portfolio

of marquee clients and
is currently servicing all
top 5 MFs, and 9 of the
15 largest MFs in India.
(Based on AAUM during
March 2021)
CAMS Listing Ceremony

Subsequent to an initial public
offering through OFS by the existing
shareholders which was subscribed
47 times, the shares of the Company
got listed in BSE in a grand ceremony
at Mumbai on Oct 1, 2020. CAMS
CEO Mr. Anuj Kumar and Mr. Narendra
Ostawal of Warburg Pincus rang the
bell and listed CAMS in BSE. Virtually,
the event was attended by over 400+
including AMC leadership team,
well-wishers and employees.

Corporate Structure
With the MF industry beginning to
Our Values consolidate by the late 2000s, CAMS
emerged as a leader in MF industry
technology – a position it has retained
Delight through the years.
Ensure team
customers
diversity
The subsequent boom in the industry
saw more and more MFs engaging
CAMS as their RTA, which also
coincided with change in ownership
Win pattern at CAMS and induction of
Innovate professional management team,
through through
technology people bringing an Institutional overlay to
the Company and strengthening
governance and oversight in
operations.
Be passionate Comply and With the nature of our services to

about manage risk Mutual Funds spanning multiple
performance facets of their relationship with their
investors, distributors and regulators
and by providing a range of services,
we began playing an important role
in developing and maintaining our
clients’ market perception.
A legacy of excellence Even though MFs were then relatively
At the heart of CAMS’ legacy of new to the Indian customers, we With our growth predicated on our
excellence is its thought leadership, decided that this would be the industry clients’ growth, we engaged as a
by the first generation founder of the future and took a big leap strategic partner rather than a service
Mr. V. Shankar in the first 2 decades of faith. At CAMS, we had already provider and developed a unique
and the professional management developed software for MF operations value delivery model that catalysed
team who imbibed it thereafter. even before we bagged our first clients’ growth helping us to maintain
This legacy of excellence was customer in 1995. A superior product a steady uptrend in our market share.
demonstrated with its first customer that was far ahead of its times in many
in the MF industry, back in 1995. ways, the software impressed Alliance
Alliance Capital was a fund sponsored Capital, which eventually partnered
by Alliance Capital Management of with CAMS to further enhance its
Delaware, USA, whose Indian JV was features. What emerged was the
registered with SEBI in 1994. CAMS’ highly innovative ‘Investrak’, which
relationships with merchant bankers proved a game-changer for asset
and lead managers enabled it to management companies.
advise Alliance on banks they could
work with, and also taught them some The investment made by HDFC Group Many of our investor and
cost-saving techniques. This paved in CAMS in year 2000 gave strategic intermediary services
the way for CAMS’ entry into Mutual impetus to the Company. It was a are offered online,
Fund servicing in 1996, when SEBI win-win – HDFC Group made a good
came out with the guidelines that still investment, and with this association, through mobile apps
govern Mutual Funds. CAMS went on to bag several clients. and chatbot.

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Committed to prudent business expansion

Over the years, we have leveraged • Insurance Repository and Services Central Record Keeping Agency
our domain expertise, processes and for NPS.
• Alternative Investment Funds &
infrastructure to diversify our offering
Portfolio Management Services Our product portfolio has expanded
of services to cater to a variety of
to offer digital lien services for Banks
other financial services sectors. • KYC Registration Agency
and lending companies and Recon
Our range of quality products and • Software Solutions DynamiX , a specialist reconciliation
services spans six business verticals: solution for medium and large
We have recently forayed into other
enterprises managing large scale
• Mutual Funds regulated financial infrastructure arena
transaction volume present exciting
and have secured licence to launch
• Electronic Payment Collection opportunities for growth.
Account Aggregator services and
Services
Leading the industry – with Building on Robust Infrastructure

CAS Our robust, pan-India infrastructure powers our competitive edge in the
Noted for its many pioneering growing MF market. Our service centres, spread across the country,
industry-first tech initiatives, CAMS are connected in the real-time to our central data centre. These are
set new benchmarks such as supported by our back offices, in Chennai and Coimbatore, including
‘Consolidated Account Statement’ a central distributor helpdesk, which acts as a single point of contact
(CAS). The first - CAS of all Mutual for distributors. Our disaster recovery site in Mumbai is designed to
Fund investments of an investor that ensure business continuity across all our critical functions in the event
were serviced by CAMS, were rolled of a disaster. The real-time connectivity of all our locations ensures
out in FY08. Since then, it has gone continuous availability, as well as data replication and redundancy. We
on to become an industry norm, with also have call-centres in Mumbai, New Delhi, Chennai and Kolkata. As
investor getting a one view of entire at the end of May 2021, we have an aggregate of over 379 TB of data
MF portfolio. storage in our businesses.
Raising the service standard bar

As part of continuous improvement, regulatory & product-related changes, (and best) numbers (measured both
CAMS has made substantial efforts in fluctuating transaction volumes, as absolute complaints and complaints
enhancing overall quality performance stringent timelines for deliverables and as a % of transactions). Interventions
and delivers accuracy levels of heightened investor demands. via training, automation and process
99.98% in financial transaction improvements have enabled us to
processing with residual error Parts With an unwavering aim to deliver reduce SEBI complaints across funds
Per Million (“PPM”) at 213. The low unmatched quality and first time right serviced by us. Currently, at aggregate
error PPM is consistently achieved outcomes to investors and distributors, levels, complaints to transaction ratio
despite increasing complexities our drive to reduce SEBI complaints stands at a historical low of 0.004%.
in the processes led by various has delivered historically the lowest

22.0 trillion 323.4 million

The Company has
CAMS Serviced AuM Transaction Volumes grown its market share
(as on March 31, 2021) (During FY 2020-21) from approximately
61% in March 2015 to
approximately 69% in
21.5 million 237.1 million March 2021, based on
AAuM serviced.
SIP Book SIP Transactions

(as on March 31, 2021) (During FY 2020-21)
16.6 million 40.4 million The mature core back

office platform, Investrak,
along with many other
Unique Investors Serviced Live Investor Folios industry-first technology-
(as on March 31, 2021) (as on March 31, 2021) led initiatives launched
by CAMS, has given
the Company a strong
leadership edge, which it
continues to strengthen
year-on-year.
A glance at our key business segments

Mutual Funds Services Business
Armed with high-end technology- services, such as transaction

platform, we provide services to origination interface, transaction
Mutual Funds through the life cycle of execution, payment, settlement and
an account - from account creation, reconciliation, dividend processing,
to processing transactions and investor interface, record keeping,
redemption of the amount invested. report generation, intermediary
empanelment and brokerage
With the initiative of creating an end- computation and compliance-related
to-end value chain of services, we services, to our Mutual Fund clients,
have grown our service offerings and their distributors and investors.
currently provide a comprehensive
portfolio of technology-based

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16
Investor satisfaction survey
As part of compliance to SEBI mandated QRTA (Qualified RTA) guidelines,
we have initiated – over the past three years – an investor satisfaction survey
on our website, myCAMS and through our front offices to evaluate experience
of investors at various touchpoints of CAMS. In the latest survey concluded in
At an aggregate March 2021, 95.3% of respondents gave thumbs-up to CAMS services.
level, we serve >72
million accounts
Very Not
Satisfied
Satisfied Satisfied
To enhance the services

we offer our distributors,
we recently launched
a mobile application
edge360, loaded with
features that enable them
to service their investors
more efficiently.
CAMS - Mutual Fund Services Business
Provides a range of technology-enabled infrastructure to Mutual Funds -

Involved through the life cycle of an account, from account creation to processing transactions and redemption of the amount invested
Service Uniform Regulatory Change

Best Practice Implementation Business-Continuity Mechanisms
Aggregator Implementation
Business Manage High Volume Infrastructural Support Timely Operational

Enabler of Data / Transactions Stability Launch of NFOs Integration
Knowledge Extensive Data on Actionable High Capability of Innovative Product

Partner Investor Preferences Insights Processing Expertise Development
Service Requests
Customer Care & Investor Call Centre Mail back / SMS Front Office Transaction
and Account
Services Services Services Services Processing
Information
Recording of Recording of
Brokerage Distributor
Distributor Services Empanelled Brokerage
Computation Queries
Distributors Structures
Transaction Investor Risk

Transfer Agency Services Operations Compliance
Origination Services Management

Diversifying our Service Portfolio

Leveraging our domain expertise, processes and infrastructure, we have, over the years, diversified our service offering to
cater to a variety of other financial services sectors.
Alternative Investment Electronic Payment Insurance Repository &

Fund Service & Portfolio Collection Services
Management Services We manage mandated transactions, (through our subsidiary,
We provide services to investors, including registering of mandates, CAMS Insurance Repository
manage records and perform fund initiation of collections, reconciliation Services Limited)
accounting and reporting, among and the related reporting services for We offer processing of new business
other services, for alternative Mutual Funds, non-banking finance applications, holding policies in
investment and other types of funds companies. Expanded service suite dematerialised form, servicing
offering UPI, UPI AutoPay, and policies and other support functions to
net banking insurance companies
KYC Registration Agency Software Solutions Account Aggregator Services

(through our subsidiary, (through our subsidiary, (through our subsidiary,
CAMS Investor Services Sterling Software Private CAMS Financial Information
Private Limited) Limited) Services Private Limited)
We verify and maintain KYC records Our technology team develops We will be providing Account
of investors for use by financial software for our Mutual Funds Aggregator Services to Banking and
institutions services business and for Mutual Non-Banking Financial Institutions,
Fund companies, minimising client Investment Advisors amongst others
investment in technology applications
Our winning edge

• Recognised as the Star of FinTech in Tamil Nadu (highest category recognition) by Tamil Nadu Government in 2020
• CAMSPay won the prestigious FINNOVITI 2021 Award

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A Legacy of Strengths
The CAMS competitive edge and and in which we continue to make Experienced Management,
service proposition is manifest in its strategic investments. These Board & Marquee
track record of delivering performance strengths, which we are continually Shareholders
excellence and consistent stakeholder augmenting, have led to the
With 28 years of average work
value for the past three decades. emergence of CAMS as a trusted,
experience, our key management
credible, distinctive, transparent and
What drives our leadership position personnel are providing far-sighted
dependable brand of choice in the
is our core of deep-rooted strengths, strategic guidance to the Company.
domains of our presence.
which we have steadfastly nurtured The diverse sectoral experience
that the management team brings
to the table, across a wide gamut
of financial services, are leading
Our Strengths CAMS’ innovation-focussed business
and service orientation. Our Board
of Directors collectively possess an
effective mix of skills and attributes
Visionary & Professional with significant business, operational,
Experienced & Qualified technology, finance, insurance, legal
Management Leadership and investment experience in a
diverse range of industries.
The Marquee Shareholders and their
shareholding include Great Terrain
Integrated HDFC and HDFC Bank enabling us
Sustained Business to effectively implement corporate
ESG Focus Model governance standards.
Shareholding pattern as on
March 31, 2021
Long-standing
People Client
Strength Relationships
% of shareholding
Technological
& Digital
Prowess
Promoter - 30.98
Foreign Portfolio Investor - 23.99
Mutual Fund - 12.69
Alternate Investment Funds - 5.60
Individuals - 9.94
Financial Institutions / Banks - 3.33
Insurance Companies - 2.40
Other - 11.07

Professionally Qualified
Leadership The Promise of Safety
The expertise of our professionally We have in place robust corporate
governance systems designed
qualified leadership lends business From handling over 98 to ensure ethics, transparency
excellence to the Company, across
functions. Our large resource pool
million transactions in and safety in all our dealings.
with domain expertise gives us with the FY15, we handled We remain focussed on ensuring
regulatory oversight and cyber
the capacity and capability to align over 323 million security for our clients and
our strategic approach to the evolving transactions in FY21. stakeholders. We continuously
needs of diverse clients. monitor our systems and
processes, and endeavour
platforms are built to absorb growth in
Integrated Business Model to not only benchmark them
the number of investors, assets and against Indian competitors but
Our diversified portfolio of technology- trading volumes. We are continuously also incorporate industry best
enabled services, along with our pan- investing in augmenting our technology practices and technological
India physical network, constitutes the edge to enhance customer experience advancements in our operations.
foundation of our integrated business and boost business growth and bolster Data confidentiality and data
model. By leveraging our technology- our competitive technology advantage. security are in-built in our service
driven financial infrastructure, it proposition. We also continue
helps clients save on investments in Strong People Foundation to automate processes and
the development of such services, enhance our systems and risk
Our People are a key propeller of
which can be a time-consuming management to try to ensure that
our strategic approach, and remain
and disruptive proposition. Our all our obligations and regulatory
critical to our expansion and growth requirements are fulfilled on a
streamlined systems and processes
plans in a competitive and transforming timely basis and without error.
give us the agility required to adapt to
market landscape. The Company
the specialised needs of our clients
carries the largest workforce with
quickly and effortlessly.
the specialised niche domain
knowledge of Mutual Fund services
Long-standing Client and has consistently focussed on
Relationships strengthening our People edge through
Our engagement model as a service targeted initiatives, aimed at their skill Our ISMS practices are
solution partner rather than service development and training. With a thrust
provider with complete alignment to
very stringent and we
on developing a seamless leadership
our clients’ growth and strategy and pipeline, we provide our employees are an ISO 27001:2013
consistent delivery of our services with career progression opportunities certified company,
and solutions that is backed by at every stage of their association with enabling us to ensure
competencies, business insight and the Company.
innovation has helped us build long-
total data security at
standing relationship with our clients. Stringent Quality & all times.
Compliances
The average term of our relationship Serving as a SEBI-regulated entity,
with our ten largest Mutual Fund CAMS brings high standards of
clients is 20 years. governance and oversight to its
operations. Led by our focus on
Technology-led Services being a trusted provider of services
Innovation to our clients and other stakeholders,
Armed with a dynamically evolving we remain committed to ensuring
technological and digital infrastructure, sustained emphasis on regulatory
we are continuously enhancing compliances. Our compliance culture
our service efficiencies. We have, extends across our comprehensive
over the years, developed strong Risk Management framework,
proprietary platforms rooted in systems and processes, as well as our
capability, functionality, integration Environment, Safety and Governance
and scalability. Our proprietary (ESG) philosophy.

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Committed to Customer
Convenience
From ensuring ease
of transaction, to
strengthening the
electronic payment
gateways, and from
expanding our distributor
service suite to scaling
our customer care ethos
into a more dynamic
interface, we moved fast
to automate more and
more of our systems
and processes during
the year.
The CAMS business philosophy is services to our customers in the initial new registrations with few months
driven by consistent and continued weeks of the lockdown in FY21. recording negative net monthly
focus on bolstering customer accretion.
engagement and enhancing Electronic and digital modes of
customer experience. Convenience transaction (channels, exchanges, We implemented SIP Pause as an
is at the core of our customer service CAMS/AMC websites & digital intervention to arrest SIP cancellations
proposition, and is led by our focussed platforms) functioned uninterrupted, across AMC and CAMS digital portals,
efforts to innovate new ways of with SIP transaction triggering/ offering the investor the option to
strengthening our connect with our processing and dividend processing temporarily pause the SIP instead of
clients and other stakeholders. also being carried out as usual. With cancelling it. This was also provided
continued and ongoing support from as a link to distributors who welcomed
This focus was sharpened further Sterling Software for AMCs and for the facility. About 2,00,000 SIPs were
during the pandemic, on account of execution of regulatory changes, we paused using this facility. Call centre
the limitations of physical connection. ensured that our clients’ operations campaigns to direct investors to renew
We are currently offering many of went on unhindered. The digital cancelled/expired SIPs and one-click
our services online and through ambit was subsequently expanded to SIP renewal using digiInvest were
our mobile device applications, for almost entire gamut of our services. both promoted actively during the year
investors, our clients, their distributors Call Centre operations at Kolkata and – both of these have evidenced strong
and their channel partners. Delhi were resurrected with limited results.
number of employees.
Ensuring operational APIs power the complete SIP life-
continuity amid pandemic Preventing SIP attrition cycle from new SIPs to retaining,
regaining SIPs.
Moving quickly to unfold our Business SIP, the traditional growth engine, was
Continuity Plan, we harnessed the impacted with the onset of COVID with
power of the digital to deliver all critical cancellations and expiry exceeding

Going the extra mile Digital power to Distributors

With customer service culture deeply FY20 was all about digitally enabling
ingrained in our DNA, we are always distributors to manage their operations
looking to add that extra convenience without disruption during the lockdown Industry-first ML-based
to investors and distributors. Our period and thereafter. New, improved instant bank mandate
website is the go-to destination for services were introduced for large change service leveraging
7- 8 lakh visitors every month for distributors, Registered Investment
statements and a range of digital
IMPS and built-in
Advisors (RIA), RIAs and Exchanges.
services, new regulations and industry These services have led to improved validations. Investors can
updates. Our website and digital straight-through processing of make the change within
portals serve as single gateway for transactions especially for digital minutes instead of 3 days
aggregated service across CAMS platforms. Distributor-assistance and with no paperwork.
serviced 16 Mutual Funds for portfolio chatbot has been designed and made
management, account profile available to the AMCs (as a white
management, on-demand statement
7-8 lakhs
labelled solution). A full-fledged central
since inception, transaction status contact centre has been made
enquiry etc. which has helped operational for delivering distributor
MF industry set benchmarks for services and assistance on distributor
customer service. applications. Distributor services
section of CAMS website is designed Website visitors / month
for ease of executing transactions &
5 lakhs
CAMServ, a chatbot with guided accessing business services. NFT
navigation to provide digital forms, full-stack of AMFI related
Customer Experience (CX) to services, support information & FAQs
investors, was launched in 2018 are the other key sections which see
on CAMS’ website. In 2019, this significant traffic.
was extended to WhatsApp and Non-Financial Transaction (NFT)
FaceBook, enabling investor Service requests / month
Strengthening the value core
transactions and queries through
95%
We had embarked, in FY20, to
popular social media platforms
significantly enhance our value
and on our mobile app myCAMS.
proposition across all areas of client
Mutual Funds have opted for the
services and operations, and engage
bot on their websites as a white
as an end-to-end, full stack service
label service and it has been
extended as WhatsApp service partner. In line with this focus, we of NFT requests processed within
launched two industry impacting T+2 business days
as well.
technology solutions - Digital On-
128 million
boarding platform for PMS Advisors
(and RMs) and Web portal for AIF/
PMS Investors. During FY21, besides
full automation of reconciliation of
pay-in, we made progress in adopting
Distributor Reports & Investor
camsonline.com provides a more user-friendly and faster Statements
a range of statements to processing module for brokerage
across all AMCs. We have also
520 million
serve every need of the
automated the posting process,
Investor including enhanced
and enhanced the monitoring and
Capital Gain/Loss surveillance environment. We inducted
statement to facilitate tax senior leadership talent to strengthen
computation and ITR filing. our tech prowess during the year. SMS

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As service partner to AMFI, we

have launched a suite of digital
intiatives on AMFI website for
The anytime, anywhere convenience of myCAMS,
paper-less registration of new
intermediaries and licence coupled with several unique features, helped add 7.9 lakh
renewal and self-declaration new users during FY 2020-21 to take the overall registered
submission for existing base to over 40 lakh investors. myCAMS contributed 38 lakh
distributors. Services which were transactions in FY 2020-21, December clocking an all-time
hitherto taking 4 – 7 days are high of 4.5 lakh transactions. The App was acknowledged
now done in few minutes.
as one among the Top 5 finance apps in India by
Yahoo finance.
Driving leadership through
tech-led innovations Sharpening the tech edge with edge360
Launched in August 2019 for MF distributors and advisors, our edge360 portal received
With electronic transformation excellent response during FY20, on account of its contemporary and unique features.
and advancement becoming more We expanded this offering with the introduction of edge360 mobile app in March
and more integral to the Mutual 2021. The platform caters to all business needs of MF distributors, ranging from easy
Fund industry, we are continuously transaction handling, detailing of brokerage receipts for easy reconciliation, on-demand
statement availability and a CRM to submit queries. It provides distributors the ability to
developing and investing in
view, track and manage portfolios of new, active and dormant investors. It also allows
technology to steer our market distributors to plan and execute marketing campaigns for existing investors using the
leadership. We are deploying and integrated SMS and email engine.
embedding an array of emerging
With an overall registered base of 37,500 distributors, an average of 3,500 distributors
technologies for transforming products use the edge360 portal daily to download reports & account statements, and to perform
and processes to boost client financial & non-financial transactions.
commitment and loyalty, economies
of scale, effective risk management,
scalability, diversification, etc. Our enable incremental value creation • We run our own Data Centres
technological sweep encompasses for them. They are instrumental in on completely virtualised Hyper
the areas of: reconciliation, brokerage powering customer loyalty and long- Converge Infrastructure (HCI)
computation, digitisation of paper term client relationships. and build and host hundreds of
transactions, quality control, among Applications & APIs
others. Breaking new barriers Our Suite of Technology-
in technology-enabled services • Our Business Intelligence (“BI”)
Enabled Offerings
we continue to deliver a host of platforms power Mutual Fund
Our Proprietary Technology Platforms Industry Analytics
pioneering offerings to our clients,
and Mobile Applications are aimed
also their investors, their distributors, • Robotic Process Automation
not only at enhancing the investor
channel providers and regulators. (RPA) Bots have been deployed to
and distributor ease of operation,
Our investments in sustainable and improve productivity and efficiency
but also seek to automate the flow of
scalable technology platforms, through
transactions, thereby reducing manual • We have adopted digital and AI &
the account lifecycle of our clients,
efforts and the attendant risks. ML (Artificial Intelligence & Machine
• Our Transfer Agency platform is the Language) technologies to solve
Our IT team, comprising about largest platform serving the Mutual business problems
600 qualified professionals as Fund segment in India, and has
of May 2021, is engaged in enabled rapid scaling of the industry
managing our comprehensive while managing the complexities of
proprietary IT infrastructure, business operations
developing innovative products,
and ensuring system and data
security. It also offers 24x7
support to our clients.

Our Tech-Powered Solutions Sales & Business Intelligence

Applications
myCAMS: Is an award-winning mobile digiNFO: Has been created as a MFDEx: Mutual Fund Data Explorer is
application for retail and HNI investors single-click investment feature for our data bureau service for sales and
to manage their Mutual Fund portfolio NFO investment – executed either business intelligence. CAMS serviced
and transact across CAMS serviced directly by investor or facilitated by mutual funds and other Mutual Funds
Mutual Funds. The app which has the distributor. serviced by competitor subscribe
been continuously enriched with to this application to get industry
best-in-class features, has won data across multiple dimension &
resounding endorsement from digiLoan against MF units: HDFC parameters. It also allows sales and
investors in the annual investor Bank and ICICI Bank are live with marketing teams to facilitate better
feedback and Playstore rating of 4.4 our digital loan against mutual funds alignment of resources through
(LAMF) facility, which enables the reviewing market performance, sales
bank’s customers to get a loan upto and distribution effectiveness.
up to Rs. 1 crore by pledging their
debt and/or equity mutual funds in a
completely paperless, digital process
GoCORP: Is an investment portal
via myCAMS application. We are also
designed for corporates, and provides
in the process of integrating select mfCRM: Is a mobility solution
a single gateway to transact across
large NBFCs onto the LAMF platform for Mutual Fund relationship and
multiple participating Mutual Funds,
with specific customisations. sales managers to better manage
thus doing away with the need
to complete multiple forms and investor relationships and distributor
transaction slips. It allows corporates performance. It provides real-time
to schedule redemption transactions, Insta eNACH: Setting up payment for access to funds data directly from the
and enables same-day purchase and SIP leveraging NPCI eMandate has transfer agent’s database and industry
redemption transaction. been made extremely convenient with data from our data aggregation
the Insta eNACH facility covering 21 service MFDEx.
banks. It is implemented in select AMC
websites, myCAMS and edge360.
digiInvest: Is a single-click, easy-to-
use campaign management platform
launched for Mutual Funds and
distributors to target their investor
base with customised transaction links
CAMSsmart: Is a business
to make lumpsum purchases, new SIP CAMSserv: Is a self-service chatbot intelligence service, developed to
registrations, SIP Renewal (for single to help investors navigate through MF service Mutual Funds. It assists
or multiple schemes) and for pausing services and investing options. It is with reporting, predictive and
an SIP. available on CAMS digital properties, prescriptive analytics, data mining,
social media channels and as white measuring business performance and
label solution in Mutual Fund websites benchmarking.
and social handles.

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Automation for higher fidelity Reliability, continuity &

and lowered risks resilience
Automation as a significant focus area We have set up a world-class
Front office enablers began in FY19 and got accelerated Enterprise Monitoring Framework that
in the year 2021, beginning with detects any transaction failure across
challenging and reimagining digital properties and proactively alerts
several high impact processes. The the AMCs. The capabilities have been
transformations were designed to built covering all MF applications
mf360: Is a proprietary front office bring in higher efficiency and reduced including Hardware (CPU, Memory
investor service application, which risk in process execution while driving & Diskspace), Availability (services,
allows Mutual Funds to track down human touch to near zero schedule jobs, applications), Failures
transactions, investor enquiries levels. With design workshops to (business/technical and repeat rapid
and account statement requests. bring foundational changes in place, failures), Spikes/Troughs (unusual
It provides efficient document the advanced phase of automation activities – threshold based) and
management using bar codes. (and transformation) of large, complex Latency. Business Monitoring
processes – Reconciliation, Data-entry dashboards have been created to
(revamp), Brokerage computation and monitor the spectrum of technology
Redemptions were transformed end- activity with ease – all of these have
to-end during the year. helped create a next-gen uptime and
delivery posture.
mfCompass: Assists in linking the
transfer agent’s back offices with We have adopted the best Business
the Mutual Funds front office in Continuity Management practices.
real time, while offering a holistic
and real-time view of inflows and BCP drill is being carried out at
outflows to the fund managers. It periodical intervals to service all the
allows quick reporting of physical CAMS has been among core B2B & B2C at production volumes
applications received through the first in the securities without any performance issues.
Mutual Fund branches with limited
market to re-introduce OTP- Our continuing investment in our
data encoding requirements.
based Aadhaar KYC after proprietary IT platforms continues to
securing the AUA Approval strengthen our competitive advantage
from UIDAI. The new eKYC by further increasing operating
leverage, driving ongoing innovation,
brings a paradigm change to
anticipating industry developments
Recon DynamiX: The latest onboarding of new investors and delivering increased efficiencies,
addition to our product stable into Mutual Funds. The while continuing to provide our clients
helps drive operational efficiency plugin solution is available and other stakeholders with integrated
for payouts and reconciliation of
across CAMS digital portals services from best-in-class technology
general ledgers, payments and platform and infrastructure.
transactions. The tested solution and several Mutual Funds
in our Mutual Fund operations websites and mobile apps.
in processing over 320 million
transactions and Rs. 128 trillion
in the last financial year has been
productised as a standalone recon
platform or as integrated offering The Company has achieved
Data at CAMS is replicated at
with existing ERP systems for
medium and large enterprises
three data centres almost in the advanced BitSight
which handle large volume
real-time. While the primary and rating of 800, highest in
transactions and payments.
secondary centre are at Chennai, BFSI segment. We have
third data centre is at Mumbai
progressively scaled from
bringing the comfort of different
seismic zone.
540 in 2017, 790 in 2019 to
touch 800 in 2020.

Committed to People
Empowerment
People have always been driving our Harnessing people power
legacy of excellence. From delivering amid pandemic
on our business objectives and
Even as we moved quickly to put
steering the realisation of our vision,
our Business Continuity Plan into Our teams ensured
to powering our customer service
agenda, our people philosophy
action amid the pandemic, our teams near six sigma
ensured sustained and uninterrupted quality led delivery
has emerged as the engine of the
delivery of business operations
Company’s growth and value delivery
relating to processing of financial
and reduced
proposition.
transactions. From supporting the investor complaints
digital initiatives at the back-end and despite the tough
Our customer interface, which is
integral to our strategic plans, is
the front-end in the initial months, and unprecedented
rooted in our people strength, which
to moving into normal physical challenges during
operations in the latter half of the FY21.
we remain committed to nurturing
year, our people partnered us to
through focussed initiatives. We have
deliver to customer needs through
prioritised the welfare and safety of
the year. They adapted with agility to
our employees as an overarching
the unprecedented new Work-from-
goal, which we strengthened further
Home (WFH) operations, which were
amid the pandemic. At the same time,
evolved in a phased manner within a
we continued to sharpen our focus
short span of 3-4 weeks.
on employee empowerment through
continuous learning and development
programmes, coupled with career
progression opportunities. Talent
hiring and retention processes were
redefined in alignment with the new
business realities.

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Aligning people to new norms

For the effective implementation • Configure 2,400 desktops for VPN
of the new WFH norms, we enablement during Wave 1
constituted a Task Force,
• Install additional security suites
comprising HR and technology
support teams, soon after the • Configure dongles and Wi-Fi routers
COVID outbreak. New guidelines with the machines
were put in place after taking into
In addition, a dedicated team of
account all aspects of the new
15 employees handled core back-
paradigm, including information
end work, and provided support for
security, risk-containment,
breakdowns and latency to the users
availability of desktops and
working from home, with the help of
last-mile connectivity in the homes
popular mobile apps.
of employees.
The task force spent over 5,000

hours cumulatively in executing
their charter, including handling
almost 3,000 support requests.
Thirty employees worked
relentlessly over the weeks to:
Nurturing Learning & training & evaluation, leading to operators and managers, was
Development their certification in the particular launched. More than 500 employees
skill area have participated in various
With the adoption of new norms of
sessions since the launch of the
working, new skill sets had to be • Risk Mitigation was identified as a
programme, being conducted
quickly imbued into the work culture key focus area for upskilling, and
through a blend of LMS, weekly
during the year. Riskathon contest was organised
virtual short learning modules and
for highlighting niche and under-
online quizzes
• Frontline managers were trained noticed risk areas. An Operations
and equipped for “Leading Virtual Risk Management programme was • Learning quotient of employees
Teams” - a key skill identified for mandated for all frontline managers, was maintained at a high level
managers during this remote/ and a learning series on risk during the lockdown period, with the
blended working environment. More mitigation with functional heads was L&D team shifting gears seamlessly
than 60 leaders were trained and launched across the breadth of the to conduct Virtual training
certified in this area during FY21 operations team programmes, Online quizzes and
WebEx programmes. Talent hunt
• Niche skill areas – Transmission, • PELE (Program for English
contests for employees, as well as
Lien marking and Recon Language Enhancement), an
Kid’s camp for children of CAMS
Automation, were added to the English language enhancement
and Sterling Software employees,
existing pool of identified skills; programme aimed at enhancing
were conducted virtually
Employees performing these verbal & written English
functions underwent rigorous communication skills of frontline

Managing talent in crisis time

We have in place MoUs with
Chennai’s top three colleges – Stella
Maris, Loyola & Ethiraj College,
to provide scholarships, training &
placements to talented youth. Our
training programmes cover engaging
modules, including NISM certification,
Financial Literacy and Campus-to-
corporate training. Around 45 students
have received scholarships sponsored
by CAMS over the last two years.
Leveraging our Campus

Collaborations, we hired 22
Management Trainees during FY21. A
team of leaders has been assigned as
mentors to our MTs & PGTs to aid in
their learning, nurturing and shaping
Recognising & Rewarding Talent
process, to equip them to become Given the pandemic constraint, we initiated e-Appreciations to keep our
leaders of tomorrow. The CAMS employees motivated during the year. Various special project-based awards
career page received 17,000 viewers were launched to recognise and reward talent.
and 39,000 page visits during
the year.
Keeping Employees Safe & • Virtual programmes on yoga, • “Listening to you” – Employee
Engaged meditation and stress management engagement survey was conducted,
were instituted for engaging and action plans were reviewed with
With employee safety and well-being
employees the leadership team
assuming greater importance amid the
pandemic crisis, we initiated a series • Awareness campaigns were • More than 3,000 employee connect
of initiatives for their protection and conducted on leading a healthy life calls were made to check on their
welfare during the year. while working at home well-being, and that of their families
• To help employees cope with mental • We developed and circulated a
• BFIT contest was conducted
stress, we conducted webinars in Dos and Don’ts compendium on
with the aim of building habits of
collaboration with our EAP partner COVID guideline, on coping with the
exercising, walking and mindful
‘1to1help.net’ and empanelled emerging WFO paradigm as some
eating saw active participation from
psychologists, who covered topics employees returned to office amid
employees. An ePortal tracked the
such as Gratitude, Understanding the pandemic
participants’ daily progress and
Anxiety & Signs of Depression
points were given not just for the
count of steps, but for the effort of • Strengthening our leadership
incorporating walking as a daily connect, we conducted virtual
habit. The leader boards in the “Meet the CEO”, “Meet the COO”
portal motivated the teams. More and townhalls by CEO, to foster the
than 20 teams have demonstrated much-needed feeling of employee
positive difference in their daily belongingness to the organisation,
habits and health as a result of this amidst pandemic-induced remote
programme working

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Committed to
Community Service
The COVID crisis sharpened CAMS’ focus on Corporate Social Responsibility (CSR), which we have adopted as an
organisation-wide cultural ethos. We have in place a comprehensive CSR policy, in compliance with the requirements of the
Companies Act 2013 and the Companies (Corporate Social Responsibility) Rules, 2014, notified by the Central Government.
Rs. 421lakhs Our CSR focus encompasses:
• Educational and vocational • Training for small scale

training for economically entrepreneurs
CSR spend during FY21 weaker students, physically • Healthcare services
(up 11% over FY20) and mentally ill students
• Assistance to orphanages
• Providing personal safety and old age homes
education

COVID Response
300,000+
workers stuck without employment
and unable to return to their
With the pandemic necessitating a
native places, we joined hands
bigger outreach to the vulnerable
with entrepreneurs and the KVN
communities, we expanded the
Foundation to feed such people.
frontiers of our CSR programmes
The Mission to distribute food to The Mission to distribute
during the year.
3,00,000+ daily wage worker was food to 300,000+ daily
undertaken with the help of the wage worker was
COVID Response for Employees
Chennai Corporation field staff
• Adequate health and hygiene undertaken with the help
measures were taken, including a • Supporting daily needs of the of Chennai Corporation
doctor on call support in Chennai needy field staff.
With the help of NGOs Chudar &
• ePasses were obtained for critical AID India, we reached out to the
employees, and few employees
most deserving and needy families
were housed in nearby hotels to
in Chennai’s slums with grocery and
address critical requirements which
sanitary kits as well as reusable
could be delivered only from office
masks. Small village vendors,
As part of our
• Transportation arrangements in whose capitals were wiped out in
sanitised cars were arranged for the lockdown, were also supported COVID relief and
safe movement of employees in resumption of their operations safety measures for
our employees, we
• Extensive preventive steps were • Supporting frontline workers organised vaccination
taken to ensure that the working In association with various NGOs
environment at the office is safe, campaigns at the
the Company provided Sanitisers,
and required facilities were provided Gloves and Face shield for front
office for their benefit,
to the employees working from line service providers at Mumbai & beginning with the
office Chennai latter half of FY21.
• Security measures were established
to address safety issues arising
from WFH, with a dedicated team
handling core back-end work and
configurations
• The Company remained connected

with employees working from
home through phone calls, online
meetings etc. Virtual learning and
events were ongoing
Covid Relief for Society under CSR
To support the urgent needs of
communities hit hard by the pandemic,
we launched a series of programmes
during the year
• Feeding migrant labour

Migrant workers in Chennai,
the predominant area of our
operations, were among the worst
affected in the wake of the sudden
lockdown and suspension of public
transportation. To help out migrant

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Other CSR Activities

Along with the COVID relief
measures, we also continued with
our regular CSR activities during the
year, in the field of Education and
Healthcare.
In the area of EDUCATION, our

CSR initiatives include:
NGO partner: Chudar
After-school centres & online
education
Our ongoing programme for after-
school centres in Chennai’s slums
benefits 50 children at each centre
with unique content and methodology,
synchronised to the state board
curriculum while also ensuring
assimilation of key concepts and skills.
A community learning programme
supplements these efforts for older
students.
- During FY21, we identified 20

villages post the lockdown for
providing access to online education
for government school children.
These children were provided digital
tablets with pre-loaded content, and
an appropriate system was put in
place to monitor, guide and assist
their learning.

NGO partner: eVidyaloka NGO partner: Arvind NGO partner: Sankara

Rural digital classrooms Foundation Nethralaya
CAMS has partnered with an NGO Children with special needs In the area of HEALTH, our CSR
which focusses on transforming CAMS is supporting a centre for initiatives include:
the educational landscape of rural children with special needs, through
Vision care for underprivileged people
India. We support the organisation staff trained in curative education and
in rural India: In partnership with a
in the creation of digital classrooms structure based on Waldorf curriculum.
Chennai-based NGO, CAMS supports
for children in remote villages with
free surgeries for the rural poor. The
the help of local communities and - During FY21, the centre initiated
NGO is operating a fully equipped
volunteer teachers from across the online classes and training, which
van with all medical and telemedicine
globe. CAMS is supporting 10 such showed encouraging results over
facilities. The van visits the rural
schools across the country. a period of time. Families of the
areas, where patients are screened
students were also supported with
thoroughly by a team of optometrists
- During FY21, a Learn from Home groceries and other essentials.
for various eye disorders, including
(LFH) model was developed for
cataract, diabetic retinopathy and
all the 10 schools. A multi-modal
glaucoma. Spectacles are provided
delivery approach was adopted,
at the site at a nominal cost, while
which included Live classes through
for further treatment, patients are
Smartphones, Audio classes
brought to the NGO premises,
through Keypad Phones and
where they are treated free of cost.
Support from our Class Assistants.
Another collaborative project involves
improving vision related quality
of life among workers in the
unorganised sector.

02-35 37-111 112-230
Awards & Accolades

CAMS has been recognised as the Star
of FinTech in Tamil Nadu (highest category
recognition) by Tamil Nadu Government.
Guidance Bureau by South Indian Chamber of
Commerce has recognised CAMS for the work
we have done in FinTech over the years. The
nomination has been submitted by an external
SME associated with the initiative who has
great appreciation of how CAMS, a Chennai
Headquartered company has made a difference
to Financial Services enabled by Technology.
The Southern India Chamber of Commerce and
Industry (SICCI) in association with Guidance
TN hosted India’s first “Global Yaadhum Oorae
Conclave” at Chennai on the October 29, 30 &
31, 2020. The award announcement was made
as a part of the virtual conclave on October 31,
2020. Dr. Neeraj Mittal IAS, MD, Guidance Tamil
Nadu presented the award.
“CAMSPay” won the prestigious FINNOVITI 2021 Award

during the year.
The 9th edition of Banking Frontiers Finnoviti awards received over 215
entries from 92 organisations across the BFSI Sector. This award does
not look at the size or nature of the organisation but recognises it by
virtue of the value of the innovation.
CAMSPay was awarded for the solution and innovation around
“Customer Account Validation”. Customer Account Validation is one
of the primary validations done for customer onboarding for Mutual
Fund investments, Loan disbursements and Policy claims. The solution
validates the Bank account details of the MF, NBFC and Insurance
customers associated in their respective folio, loan application and policy
to avoid potential risk and business losses. We leveraged NPCI’s IMPS
& UPI platform and built a comprehensive solution to effectively validate
customers’ bank account. CAMSPay platform supports bulk (batch
based) and API based implementation which makes customers Go-Live
seamless without any delay. Validation using IMPS by crediting penny
drop-one rupee to customer bank account to get required information to
validate the customer details.

Board of Directors
C A D E A E B E D A C
Mr. Dinesh Kumar Mehrotra Mr. Natarajan Srinivasan Mrs. Vijayalakshmi Rajaram Iyer
Chairman & Independent Director Independent Director Independent Director
Served as the Chairman and He is a Member of the Institute of Served as an Executive Director of
Managing Director of Life Insurance Chartered Accountants of India and Central Bank of India and as the
Corporation of India, where he also the Institute of Company Secretaries Chairperson and Managing Director
served as the Executive Director of of India. He has more than 35 years of of Bank of India. She was also
international operations. corporate work experience spanning associated with IRDAI as a member
across Finance, Legal, Projects and (Finance & Investments).
General Management functions.
He has also been nominated by the
Government of India to the Board of
Infrastructure & Leasing Financial
Services Limited.
Board Committees
A Audit Committee
B Stakeholders’ Relationship
Committee
D F A C
C Corporate Social
Responsibility Committee
Mr. V Srinivasa Rangan Mr. Zubin Soli Dubash
Non-Executive Director Non-Executive Nominee Director D Nomination and
Remuneration Committee
Mr. V. Srinivasa Rangan is a He is a certified professional from
E Risk Management
Member of the Institute of Chartered Institute of Chartered Accountants from
Committee
Accountants of India and is the England and Wales. Currently, he is
Executive Director of HDFC Limited. the Chief Operating Officer at Warbug F IT Strategy Committee
Mr. Rangan joined HDFC in 1986 Pincus. Previously, he was associated
and has been Executive Director with ATC Tires Pvt. Ltd., Tata Sons
of the Corporation with effect from Private Limited, WNS Global Services Chairman Member
January 01, 2010. Pvt. Ltd. and DSP Merrill Lynch Limited.
He resigned from the Company with
effect from June 21, 2021.
02-35 37-111 112-230
F D A C B B C F
Mr. Narendra Ostawal Mr. Sandeep Kagzi Mr. Anuj Kumar

Non-Executive Nominee Director Additional Director Wholetime Director
Associated with Warburg Pincus He is based in Mumbai and is part of He joined our Company as
India Private Limited since 2007 and Warburg Pincus team. Past experience Chief Operating Officer – Asset
currently is the Managing Director. includes stint at JP Morgan and Management Services in March 2016
Mr. Ostawal holds a Chartered Investment Banking Group in New and was appointed as our Whole Time
Accountancy degree from The York. Sandeep holds B.S. from Duke Director and CEO with effect from
Institute of Chartered Accountants University and MBA from Stanford November 06, 2018.
of India and an M.B.A. from Indian Graduate School of Business.
Institute of Management, Bangalore. He joined CAMS after 25 years of
professional experience with Godrej
He joined the Board of the Company
& Boyce Mfg. Co. Ltd. IBM India
with effect from June 22, 2021.
Private Limited and Concentrix Daksh
Services India Private Limited.
He holds a Bachelor degree in

Mechanical Engineering from Birla
Institute of Technology, Ranchi and
a Post Graduate Diploma in
Management (PGDM) from IIM,
Kolkata.

Consolidated -
(Rs. in Lakhs)
S. No. Particulars 2020-21 2019-20 2018-19 2017-18 2016-17
a) Revenue from Operations 70,549.58 69,962.99 69,364.39 64,153.59 47,830.85
b) Total Income 73,525.45 72,087.24 71,170.71 66,136.99 50,263.19
c) Operating Earnings before Interest, Tax and 27,268.90 26,150.28 21,790.95 23,504.10 18,629.07
Depreciation & Amortisation (EBITDA)@
d) Depreciation & Amortisation 4,341.32 5,125.08 2,843.66 2,266.58 1,691.96
e) Exceptional item - - - - -
f) Profit Before Taxation 27,445.51 24,683.82 20,725.80 23,192.82 19,359.56
g) Total Tax Expenses 6,916.37 7,494.60 7,208.07 8,221.19 6,646.51
h) Profit After Tax 20,529.13 17,189.22 13,517.73 14,971.63 12,713.05
i) Equity Dividend Payout (Excluding Tax) 24,928.26 5,938.97 10,956.37 9,605.72 5,968.22
j) Equity Dividend (%) 511% 122% 225% 197% 122%
k) Reserves & Surplus (as on end of FY) 46,708.07 50,009.64 40,298.77 40,102.17 36,678.06
l) Networth (as on end of FY) 51,587.17 54,885.64 45,174.77 44,978.17 41,554.06
Note :
FY17 is the first year of adoption of Ind AS.
@
Ind AS 116 became effective from April 01, 2019; EBITDA for FY 2019-20 and FY 2020-21 are computed disregarding Ind AS 116 impact.
Other income has been excluded from Earnings for EBITDA calculation.
Earnings Per Share (Basic) (In Rs.) Dividend Per Share (In Rs.) Book Value per Share (In Rs.)
42.08 51.09 105.73

2020-21 2020-21 2020-21
35.24 12.18 112.56
2019-20 2019-20 2019-20
27.61 22.47 92.65
2018-19 2018-19 2018-19
Operating EBITDA Margin (%) PBT Margin (%) Return on Networth (%)
39 37 40
2020-21 2020-21 2020-21
37 34 31
2019-20 2019-20 2019-20
31 29 30
2018-19 2018-19 2018-19

02-35 37-111 112-230
Standalone -
(Rs. in Lakhs)
S. No. Particulars 2020-21 2019-20 2018-19 2017-18 2016-17
a) Revenue from Operations 67,375.26 66,145.81 65,134.84 60,596.40 45,811.39
b) Total Income 73,235.66 68,096.60 66,235.56 65,063.16 47,288.53
c) Operating Earnings before Interest, Tax and 24,796.53 23,907.99 19,203.51 20,960.65 16,911.94
Depreciation & Amortisation (EBITDA)@
d) Depreciation & Amortisation 3,938.86 4,594.10 2,651.19 2,139.39 1,600.46
e) Exceptional item - - - - -
f) Profit Before Taxation 28,000.55 22,526.91 17,625.23 23,259.98 16,778.92
g) Total Tax Expenses 6,103.27 6,119.59 6,412.34 7,260.48 6,026.30
h) Profit After Tax 21,897.28 16,407.32 11,212.89 15,999.50 10,752.62
i) Equity Dividend Payout (Excluding Tax) 24,928.26 5,938.97 10,956.37 9,605.72 5,968.22
j) Equity Dividend (%) 511% 122% 225% 197% 122%
k) Reserves & Surplus (as on end of FY) 42,091.89 44,032.62 34,340.25 36,399.08 31,268.57
l) Networth (as on end of FY) 46,971.00 48,908.62 39,216.25 41,275.08 36,144.57
Note :
FY17 is the first year of adoption of Ind AS.
@
Ind AS 116 became effective from April 01, 2019; EBITDA for FY 2019-20 and FY 2020-21 are computed disregarding Ind AS 116 impact.
Other income has been excluded from Earnings for EBITDA calculation.
Earnings Per Share (Basic) (In Rs.) Dividend Per Share (In Rs.) Book Value per Share (In Rs.)
44.89 51.09 96.27

2020-21 2020-21 2020-21
33.65 12.18 100.30
2019-20 2019-20 2019-20
23.00 22.47 80.43
2018-19 2018-19 2018-19
Operating EBITDA Margin (%) PBT Margin (%) Return on Networth (%)
37 38 47
2020-21 2020-21 2020-21
36 33 34
2019-20 2019-20 2019-20
29 27 29
2018-19 2018-19 2018-19

Leadership
Anuj Kumar M. Somasundaram Ram Charan Sesharaman

Director and Chief Executive Officer Chief Financial Officer Chief Financial Officer – Designate
Manikandan G Ravi Kethana Indeevar Krishna

Senior Vice President – Legal & Chief Platform Officer Chief Process Officer
Company Secretary and
Compliance Officer
Neeraj Lal N. Ravi Kiran

Chief Risk Officer Head of New Business

02-35 37-111 112-230
Corporate Snapshot
Name Statutory Auditors
Computer Age Management Services Limited Brahmayya & Co. Chartered Accountants
FRN: 000511S
Corporate Identification No. 48, Masilamani Road,
Number (CIN) Balaji Nagar, Royapettah,
L65910TN1988PLC015757 Chennai - 600 014.
Registered Office Secretarial Auditors

New No. 10, Old No. 178, B Chandra & Associates Company Secretaries
M.G.R. Salai, Nungambakkam, FRN: P2017TN065700
Chennai - 600 034, AG 3, Ragamalika,
Tamilnadu, India 26 Kumaran Colony Main Road,
Vadapalani, Chennai - 600 026.
Corporate Office
No.158, Rayala Towers, Registrar and Transfer Agent
Tower - I, 3rd Floor, Anna Salai, Link Intime India Private Limited
Chennai - 600 002, C 101, 247 Park, L B S Marg,
Tamilnadu, India Vikhroli (West), Mumbai - 400 083.
E-Mail: rnt.helpdesk@linkintime.co.in
Company Secretary Website: https://linkintime.co.in
Mr. Manikandan Gopalakrishnan
Bankers
Chief Financial Officer HDFC Bank
Mr. M. Somasundaram 759, ITC Centre,
Anna Salai, Chennai - 600 002.
Chief Executive Officer and
Whole Time Director Website
Mr. Anuj Kumar www.camsonline.com

Statutory
Reports
and
Financial
Statements
02-35 37-111 112-230
Notice
NOTICE IS HEREBY GIVEN THAT THE THIRTY THIRD Ostawal (DIN: 06530414), who retires by rotation at
ANNUAL GENERAL MEETING OF COMPUTER AGE this meeting and being eligible has offered himself for
MANAGEMENT SERVICES LIMITED WILL BE HELD re-appointment, be and is hereby re-appointed as a
ON THURSDAY, THE 29TH DAY OF JULY 2021, AT 4.00 Director of the Company, liable to retire by rotation.”
P.M. (IST), THROUGH VIDEO CONFERENCING (“VC”) /
OTHER AUDIO-VISUAL MEANS (“OAVM”) FACILITY TO 3. Declaration of Dividend
TRANSACT THE FOLLOWING BUSINESSES- To confirm the Interim Dividends of Rs. 51.10 per equity
share of face value of Rs. 10/- each fully paid-up, for
ORDINARY BUSINESS the financial year 2020-21, approved by the Board of
1. Adoption of Standalone Financial Statements Directors and already paid to eligible shareholders
and the Consolidated Financial Statements and to declare a final dividend of Rs. 11.84/- per equity
To receive, consider and adopt the audited standalone share, for the year ended March 31, 2021.
financial statements of the Company for the Financial
To consider declaration of dividend and if deemed fit, to
Year ended March 31, 2021 together with the Reports
pass the following resolution as an Ordinary Resolution:
of the Board of Directors and Auditors thereon and
the audited consolidated financial statements of the
“RESOLVED THAT the interim dividends of Rs. 51.10
Company for the Financial Year ended March 31, 2021
per equity share of Rs. 10 each declared by the Board
together with the Reports of the Board of Directors and
of Directors on 10.05.20, 16.06.20, 10.08.20, 11.11.20,
Auditors thereon and pass the following resolution as an
11.02.21 for the year 2020-21 on the outstanding fully
Ordinary Resolution:
paid up equity shares of the Company and paid to those
equity shareholders whose names appeared in the
“RESOLVED THAT the audited standalone financial
statements including the Balance Sheet of the Company register of members as on the record dates fixed for
as at March 31, 2021, the Statement of Profit and Loss, that purpose be and is hereby confirmed.
the Statement of Changes in Equity and the Cash Flow
RESOLVED FURTHER THAT a final dividend at the rate
Statement for the year ended on that date together with
of Rs. 11.84/- per equity share of Rs. 10/- each fully paid
all the notes annexed and the Directors’ and Auditors’
up of the Company be and is hereby declared for the
Reports thereon, placed before the meeting, be and are
financial year ended March 31, 2021 as recommended
hereby considered and adopted.”
by the Board of Directors of the Company and the same
RESOLVED FURTHER THAT the audited consolidated be paid out of the profits of the Company for the financial
financial statements including Consolidated Balance year 2020-21 to those Members of the Company whose
Sheet of the Company as at March 31, 2021, the names would appear on the Register of Members of
Consolidated Statement of Profit and Loss, the the Company or as beneficial owners in the records of
Consolidated Statement of Changes in Equity and the CDSL and NSDL on the 29th day of July, 2021 being the
Cash Flow Statement for the year ended on that date record date for payment of Final Dividend.”
together with all the notes annexed and the Auditors’
Reports thereon, placed before the meeting, be and are SPECIAL BUSINESS
hereby considered and adopted. 4. Approval of the ESOP Scheme 2019 along with
variation in the Terms of the Scheme
2. Retirement by Rotation To consider and if thought fit, to pass, with or without
To appoint a Director in place of Mr. Narendra Ostawal modification(s), the following resolution as a Special
(DIN: 06530414), who retires by rotation and being Resolution:
eligible, offers himself for re-appointment as a Director
and in this regard, to pass the following resolution as an “RESOLVED THAT, pursuant to Section 62 of the
Ordinary Resolution: Companies Act, 2013 (the “Act”) read with Rule 12 of
the Companies (Share Capital and Debentures) Rules,
“RESOLVED THAT pursuant to the provisions of 2014 (“Rules”) and all other applicable rules, circulars,
Section 152 of the Companies Act, 2013, Mr. Narendra notifications, guidelines issued thereunder including any

statutory modification(s) or re-enactment(s) thereof for “RESOLVED THAT pursuant to all applicable provisions
time being in force, and the provisions contained in the of the Companies Act, and subject to the Securities
Securities and Exchange Board of India (Share Based and Exchange Board of India (Share Based Employee
Employee Benefits) Regulations, 2014, (“the SEBI Benefits) Regulations 2014, as amended (“SEBI
SBEB Regulations”), including the relevant circulars ESOP Regulations”), including the relevant circulars
and notifications, if any, issued by the Securities and notifications, if any, issued by the Securities and
and Exchange Board of India from time to time, the Exchange Board of India (“SEBI”) from time to time
applicable provisions of the Securities and Exchange and the memorandum of association and articles of
Board of India (Listing Obligations and Disclosure association of the Company, grant of stock options in
Requirements) Regulations, 2015, as amended one or more tranches not exceeding 14,62,800 options
(collectively referred herein as the “Applicable Laws”), (“Options”) as approved under the CAMS ESOP
subject to such approvals, consents and permissions Scheme 2019, exercisable into equivalent number of
as may be required and subject to such conditions and equity shares of the Company (or such other adjusted
modifications as may be prescribed or imposed while figure for any bonus, stock splits or consolidations or
granting such approvals, consents, permissions and other re-organisation of the capital structure of the
sanctions which may be agreed to by the nomination Company as may be applicable from time to time),
and remuneration committee (“NRC”) and the Board under the CAMS ESOP Scheme 2019 to the present
of Directors (“Board”), the consent of shareholders is and future, permanent Employees (as defined in the
CAMS ESOP Scheme 2019) of Sterling Software
hereby accorded to the amendment as described in the
Private Limited, CAMS Insurance Repository Services
Explanatory Statement.
Limited, CAMS Investor Services Private Limited,
RESOLVED FURTHER THAT, it is hereby noted that CAMS Financial Information Services Private Limited
and CAMS Payment Services Private Limited, the
the amendment to the ESOP Scheme and the changes
Indian subsidiary companies of the Company, be and
are not prejudicial to the interests of the current option
is hereby approved, on such other terms and conditions
holders of the Company.
as the Nomination and Remuneration Committee of
the Board of Directors of the Company (“Board”) may
RESOLVED FURTHER THAT the Board be and is
determine from time to time.
hereby authorized on behalf of the Company to make
and carry out any modifications, changes, variations,
RESOLVED FURTHER THAT the new Equity Shares to
alterations or revisions in the terms and conditions of
be issued and allotted by the Company in the manner
the ESOP Scheme, in accordance with applicable laws
aforesaid shall rank pari passu in all respects with the
prevailing from time to time, as it may deem fit, to give
then existing Equity Shares of the Company.
effect to the resolutions above, in accordance with and
subject to the terms of the Act and its Rules, SEBI SBEB RESOLVED FURTHER THAT Mr. Anuj Kumar, Chief
Regulations that may be issued by any regulatory/ Executive Officer, Mr. M Somasundaram, Chief Financial
statutory authority, as applicable. Officer and Mr. G. Manikandan, Company Secretary
of the Company be and are hereby authorized jointly
RESOLVED FURTHER THAT for the purpose of and/or severally to do all such acts, deeds, matters and
bringing into effect the amendment to the ESOP Scheme things as may be necessary or expedient including filing
and generally for giving effect to these resolutions, each of necessary documents, intimations including e-forms
member of the NRC and Board are hereby severally with regulatory authorities and to settle any questions,
or/and jointly authorized, on behalf of the Company, to difficulties or doubts that may arise in this regard at any
do all such acts, matters, deeds and things and to take stage in connection to ESOP scheme.”
all steps and do all things and give such directions as
may be required, necessary, expedient, incidental or 6. Appointment of Mr. Anuj Kumar (DIN: 08268864)
desirable for giving effect to the above.” as Managing Director of the Company
To consider, and if thought fit, to pass, with or without
5. Approval of ESOP given to the Employees of modification(s) the following Resolution as an Ordinary
the Subsidiary Companies Resolution:
To consider and if thought fit, to pass, with or without
modification(s), the following resolution as a Special “RESOLVED THAT pursuant to the provisions of SEBI
Resolution: (Listing Obligations and Disclosure Requirements)

02-35 37-111 112-230
Regulations, 2015 and Sections 196, 197, 203 and modification(s) or amendment(s) or variation(s) or re-
any other applicable provisions of the Companies Act, enactment(s) thereof, for the time being in force), and all
2013 (“Act”) read with Schedule V and the Articles other applicable laws, acts, rules, regulations, guidelines,
of Association of the Company as amended from circulars, directions and notifications and subject to
time to time and the Companies (Appointment and such other consent(s) / permission(s) / sanction(s), as
Remuneration of Managerial Personnel) Rules, 2014 may be required, consent of the Shareholders of the
and other applicable provisions and the rules made Company be and is hereby accorded for alteration in
there under, (including any statutory modification or the manner set out herein below:
re-enactment(s) thereof for the time being in force) as
recommended by the Nomination and Remuneration The existing Articles in Part II shall be deleted from the
Committee as well as Board at its meeting held on May 25, Articles of Association of the Company.
2021 the approval of the members/shareholders of the
Company be and are hereby accorded for appointment RESOLVED FURTHER THAT the Board of Directors
of Mr. Anuj Kumar (DIN: 08268864), as the Managing be and is hereby authorized to take all the requisite,
Director (Key Managerial Personnel) of the Company incidental, consequential steps including the filing of
for a period of 5 Years from August 01, 2021 to July 31, necessary forms with the Ministry of Corporate Affairs
2026 and that he shall not be liable to retire by rotation, to implement the above resolution and to perform all
on the terms and conditions including remuneration as such acts, deeds, matters and things as it may, in its
set out in the Explanatory Statement annexed to the absolute discretion, deem necessary, any question,
Notice convening Annual General Meeting, with liberty query, or doubt that may arise in this regard, and to
to the Board of Directors of the Company (which term execute/publish all such notices, deeds, agreements,
shall be deemed to include any Committee of the Board papers and writings as may be necessary and required
constituted to exercise its powers, including the powers
for giving effect to this resolution.
conferred by this Resolution) to alter and vary terms and
conditions of the said appointment and /or remuneration 8. R
atification and Approval of Article 103A of the
as it may deem fit and as may be acceptable to Mr.
Articles of Association
Anuj Kumar subject to the same not exceeding the limit
specified under Section 197 and the Schedule V to the To consider and if thought fit, to pass the following
Companies Act, 2013 or any other statutory modification resolution with or without modifications, as a Special
or re-enactment(s) thereof. Resolution:
RESOLVED FURTHER THAT Mr. Manikandan “RESOLVED THAT pursuant to the provisions of
Gopalakrishnan, Company Secretary be and is hereby Section 14 and other applicable provisions, if any, of
authorized to take such steps as may be necessary for the Companies Act, 2013 read with the applicable
obtaining necessary approvals - statutory, contractual rules framed thereunder (including any statutory
or otherwise, in relation to the above and to settle all modification(s) or amendment(s) or variation(s) or
matters arising out of and incidental thereto and to re-enactment(s) thereof, for the time being in force),
sign and execute deeds, applications, documents and and all other applicable laws, acts, rules, regulations,
writings that may be required, on behalf of the Company guidelines, circulars, directions and notifications
and generally to do all such other acts, deeds, matters and subject to such other consent(s) / permission(s)
and things as may be necessary, proper, expedient or / sanction(s), as may be required, consent of the
incidental for giving effect to this Resolution.” Shareholders of the Company be and is hereby
accorded to the ratification and approval of Article 103A
7. Amendment of the Articles of Association of the Articles of Association.
To consider and, if deemed fit, to pass the following
resolution as a Special Resolution: RESOLVED FURTHER THAT the Board of Directors
on behalf of the Company be and are hereby severally
“RESOLVED THAT pursuant to the provisions of authorized to file necessary forms with the Ministry of
Section 14 and other applicable provisions, if any, of Corporate Affairs and to and do all such acts, deeds or
the Companies Act, 2013 read with the applicable things as may be required to give effect to the above
rules framed thereunder (including any statutory resolution.

9.
Regularisation of Mr. Sandeep Kagzi (DIN: for the office of director be and is hereby appointed as
08264768) as Director the Director of the Company.
To regularise the appointment of Mr. Sandeep Kagzi
(DIN: 08264768) as Director of the Company and for RESOLVED FURTHER THAT any of the director of
this purpose to consider and if thought fit to pass with the company be and be hereby authorized to do all
or without modification the following resolution as an such acts, deeds and things as may be required for the
Ordinary Resolution: above resolution.”
By Order of the Board

“RESOLVED THAT pursuant to the provisions
of Section 152 of the Companies Act, 2013, read Sd/-
with Companies (Appointment and Qualification of Manikandan Gopalakrishnan
Directors) Rules, 2014 and Articles of Association of Company Secretary
the Company, Mr. Sandeep Kagzi (DIN: 08264768)
Registered Office:
who was appointed as an Additional Director on June New No. 10, Old No. 178,
22, 2021 by the Board of Directors of the Company M.G.R. Salai, Nungambakkam,
based on the recommendation of the Nomination and Chennai-600034, Tamilnadu, India
Remuneration Committee and who holds office up to CIN: L65910TN1988PLC015757
the date of ensuing Annual General Meeting of the Email: secretarial@camsonline.com
Company and in respect of whom a notice has been Website: www.camsonline.com
received from the member in writing, under Section 160 Place: Chennai
of the Companies Act, 2013 proposing his candidature Date: June 24, 2021

02-35 37-111 112-230
Notes: the Members from the date of circulation of this Notice

1. In view of the outbreak of COVID-19 pandemic, the up to the date of AGM Members seeking to inspect such
Ministry of Corporate Affairs (“MCA”) has vide its documents can send an e-mail.
General Circular No. 20/2020 dated May 05, 2020
read together with General Circular Nos. 14/2020 The Register of Directors and Key Managerial Personnel
and 17/2020 dated April 08, 2020 and April 13, 2020 and their shareholding maintained under Section 170
respectively, (collectively referred to as “MCA Circulars”) of the Act, the Register of Contracts or Arrangements
and Securities and Exchange Board of India (“SEBI”) in which the Directors are interested, maintained under
Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/79 Section 189 of the Act, and the relevant documents
dated May 12, 2020, and subsequent circulars in referred to in the Notice will be available, electronically,
continuation permitted the holding of this AGM through for inspection by the Members during the AGM.
VC/OAVM, without the physical presence of the
Members at a common venue. In compliance with the Members seeking to inspect such documents can send
provisions of the Companies Act, 2013 (“the Act”), SEBI and e-mail to secretarial@camsonline.com
(Listing Obligations and Disclosure Requirements)
4. Brahmayya and Co., Chartered Accountants, were
Regulations, 2015 (“Listing Regulations”) and the MCA
and SEBI Circulars, the AGM of the Company is being appointed as Statutory Auditors of the Company at
held through VC/OAVM, without the physical presence the Thirtieth AGM held on June 25, 2018. Pursuant
of the Members at a common venue. to the Notification issued by the Ministry of Corporate
Affairs on May 07, 2018 amending Section 139 of the
Link Intime India Private Limited, Registrar and Act and the Rules framed thereunder, the mandatory
Transfer Agents of the Company, shall be providing requirement for ratification of appointment of Auditors
facility for voting through remote e-voting, for by the Members at every AGM has been omitted,
participation in the AGM through VC/ OAVM facility and and hence the Company is not proposing an item on
e-voting during the AGM. The procedure for participating ratification of appointment of Auditors at this AGM.
in the meeting through VC/OAVM is explained at Note
No.19 below. The Statutory Auditors have given a confirmation to
the effect that they are eligible to continue with their
2. In compliance with applicable provisions of the Act appointment and that they have not been disqualified
read with the MCA and SEBI Circulars and the Listing in any manner from continuing as Statutory Auditors.
Regulations, the AGM of the Company is being The remuneration payable to the Statutory Auditors has
conducted through VC/ OAVM. In accordance with the been determined by the Board of Directors based on the
Secretarial Standard on General Meetings (“SS-2”) recommendation of the Audit Committee.
issued by the Institute of Company Secretaries of India
(“ICSI”) read with Clarification/Guidance on applicability 5. PURSUANT TO THE PROVISIONS OF THE ACT,
of Secretarial Standards 1 and 2 dated April 15, 2020 A MEMBER ENTITLED TO ATTEND AND VOTE AT
issued by the ICSI the proceedings of the AGM shall THE AGM IS ENTITLED TO APPOINT A PROXY TO
be deemed to be conducted at the Registered Office of ATTEND AND VOTE ON HIS/HER BEHALF AND
the Company which shall be the deemed venue of the THE PROXY NEED NOT BE A MEMBER OF THE
AGM. Since the AGM will be held through VC/OAVM, COMPANY. SINCE THIS AGM IS BEING HELD
the Route Map is not annexed to this Notice. PURSUANT TO THE MCA AND SEBI CIRCULARS
THROUGH VC/OAVM, THE REQUIREMENT OF
3. The Explanatory Statement pursuant to Section 102 PHYSICAL ATTENDANCE OF MEMBERS HAS BEEN
of the Companies Act, 2013 setting out material facts DISPENSED WITH. ACCORDINGLY, IN TERMS
in respect of the business under Item No. 2 above is OF THE MCA CIRCULARS, THE FACILITY FOR
annexed hereto. Further, the relevant details, pursuant APPOINTMENT OF PROXIES BY THE MEMBERS
to Regulations 26(4) and 36(3) of the Listing Regulations WILL NOT BE AVAILABLE FOR THIS AGM AND
and Clause 1.2.5 of the Secretarial Standard on General HENCE THE PROXY FORM AND ATTENDANCE SLIP
Meetings (“SS-2”) by ICSI, with respect to Item No. 2 is ARE NOT ANNEXED TO THIS NOTICE.
also annexed hereto.
6. Corporate/Institutional Members are entitled to appoint
All documents referred to in the Notice will also be authorised representatives to attend the AGM through
available electronically for inspection without any fee by VC/OAVM on their behalf and cast their votes through

remote e-voting or at the AGM. Corporate/Institutional 10.

TRANSFER TO INVESTOR EDUCATION AND
Members (i.e. other than individuals/HUF, NRI, etc.) PROTECTION FUND:
are required to send a scanned copy of the Board i) Transfer of Unclaimed Dividend:
Resolution/Authority Letter, etc., authorising their
The Company has not transferred any amount to
representative to attend the AGM through VC/OAVM
the IEPF, being the unclaimed/unpaid dividend for
on their behalf and to vote through remote e-voting or the any of the Financial Years.
during the AGM.
ii) Transfer of Unclaimed Matured Fixed Deposits
The said Resolution/Authorisation shall be sent to and Interest accrued thereon:
the Scrutinizer by email through its registered email The Company does not have any Fixed Deposits.
address to bchandraandassociates@gmail.com with a
copy to enotices@linkintime.co.in and to the Company iii) Transfer of Shares:
at secretarial@camsonline.com Adhering to the various requirements set out in
the IEPF Rules, as amended, the Company has
Members of the Company under the category of not transferred any Equity Shares of the Company
Institutional Shareholders are encouraged to attend during the Financial Year 2020-21 to the IEPF
and participate in the AGM through VC/ OAVM and Authority in respect of which dividend had remained
vote thereat. unpaid or unclaimed for seven consecutive years.
7. In view of the massive outbreak of the COVID- 19 iv)

Details of unclaimed amounts on the
pandemic, social distancing has to be a pre-requisite. Company’s website:
Pursuant to the provisions of the Investor Education
Pursuant to the above-mentioned MCA Circulars, and Protection Fund Authority (Accounting,
physical attendance of the Members is not required at Audit, Transfer, and Refund) Rules, 2016, the
the AGM, and attendance of the Members through VC/ Company has uploaded the details of unpaid and
OAVM will be counted for the purpose of reckoning the unclaimed amounts lying with the Company on the
quorum under Section 103 of the Act. website of the Company at the web-link: https://
www.camsonline.com/about-cams/shareholder-
8. The Company’s Registrar and Transfer Agents for its relations/unclaimed-dividend-status as well as on
Share Registry Work (Physical and Electronic) are Link the website of the Ministry of Corporate Affairs at
Intime India Private Limited having their office at C 101, the web-link: http://www.iepf.gov.in/.
247 Park, L B S Marg, Vikhroli (West), Mumbai 400083.
11.
TRANSFER OF SHARES PERMITTED IN DEMAT
9. Electronic Dispatch of Notice and Annual Report: FORM ONLY:
In line with the MCA General Circular dated May 05, As per Regulation 40 of the Listing Regulations,
2020 and SEBI Circular dated May 12, 2020, the as amended, securities of listed companies can be
Notice of the AGM along with the Annual Report for transferred only in dematerialised form with effect from
the Financial Year 2020-21 is being sent only through April 01, 2019, except in case of request received for
electronic mode to those Members whose email transmission or transposition of securities.
addresses are registered with the Company/Link Intime/
In view of the above and to eliminate all risks associated
Depositories. A copy of the Notice of this AGM along with physical shares and for ease of portfolio management,
with the Annual Report is available on the website of Members holding shares in physical form are requested to
the Company at www.camsonline.com, websites of consider converting their holdings to dematerialised form.
the Stock Exchanges where the Equity Shares of the Members are accordingly requested to get in touch with
Company are listed, viz. BSE Limited at www.bseindia. any Depository Participant having registration with SEBI to
com and respectively, and on the website of Link Intime open a Demat account or alternatively, contact the nearest
at https://www.linkintime.co.in/. For any communication, branch of Link In time to seek guidance with respect to the
the Members may also send a request to the Company’s demat procedure. Members may also visit the website of
investor email id: secretarial@camsonline.com depositories viz. National Securities Depository Limited:
https://nsdl.co.in/faqs/faq.php or Central Depository
The Company will not be dispatching physical copies of Services (India) Limited: https://www.cdslindia.com/
the Annual Report for the Financial Year 2020-21 and investors/open-demat.html for further understanding of
the Notice of AGM to any Member. the demat procedure.

02-35 37-111 112-230
12. NOMINATION: Depository Participants.

Members can avail of the facility of nomination in respect
of shares held by them in physical form pursuant to the 15. Updation of PAN / Bank Account Details of Members:
provisions of Section 72 of the Companies Act, 2013 SEBI vide its Circular No. SEBI/HO/MIRSD/DOP1/
read with Rule 19(1) of the Companies (Share Capital CIR/P/2018/73 dated April 20, 2018 has mandated
and Debentures) Rules, 2014. Members desiring to registration of PAN and Bank Account details for all
avail of this facility may send their nomination in the security holders. Members holding shares in physical
prescribed Form No. SH-13 duly filled in to Link Intime form are therefore, requested to submit their PAN
India Private Limited having their office at C 101, 247 and Bank Account details to the Registrar and Share
Park, L B S Marg, Vikhroli (West), Mumbai 400083 or Transfer Agents along with a self-attested copy of
send an email at: rnt.helpdesk@linkintime.co.in PAN Card and original cancelled cheque. The original
cancelled cheque should bear the name of the Member.
Members holding shares in electronic form may contact In the alternative, Members are requested to submit a
their respective Depository Participants for availing copy of bank passbook/statement attested by the bank.
this facility. If a Member desires to cancel the earlier Members holding shares in demat form are requested
nomination and record fresh nomination, he/she may to submit the aforesaid information to their respective
submit the same in Form No. SH-14. Depository Participant(s).
13. Members are requested to: 16. Members seeking any information with regard to the
i) intimate to the Link Intime, changes, if any, in their Accounts or any matter to be placed at the AGM, are
registered addresses/bank mandates at an early requested to write to the Company on or before July 15,
date, in case of shares held in physical form 2021 through email on secretarial@camsonline.com.
The same will be replied by the Company suitably.
ii) intimate to the respective Depository Participant,
changes, if any, in their registered addresses/bank
17. Procedure for Inspection of Documents:
mandates at an early date, in case of shares held
in electronic/ dematerialized form The Register of Directors and Key Managerial Personnel
and their shareholding maintained under Section 170 of
iii) quote their folio numbers/ Client ID and DP ID in all Companies Act, 2013 and relevant documents referred
correspondence to in this Notice of AGM and Explanatory Statement, will
iv) consolidate their holdings into one folio in case they be available electronically for inspection by the Members
hold shares under multiple folios in the identical during the AGM. All documents referred to in the Notice
order of names; and will also be available for electronic inspection without
any fee by the Members from the date of circulation of
v) register their Permanent Account Number (PAN) this Notice up to the date of AGM, i.e. July 29, 2021.
with their Depository Participants, in case of Members seeking to inspect such documents can send
Shares held in dematerialised form and Link Intime an email to Company’s investor email id: secretarial@
/Company, in case of Shares held in physical form, camsonline.com
as directed by SEBI.
18. Members are requested to support the Green Initiative
14. Updation of Members’ Details: by registering/ updating their e-mail addresses, with
The format of the Register of Members prescribed by the Depository Participant (in case of Shares held in
the Ministry of Corporate Affairs under the Companies dematerialised form) or with Link Intime (in case of
Act, 2013 requires the Company/ Registrar and Shares held in physical form).
Transfer Agents to record additional details of Members,
including their PAN details, e-mail address, etc. 19. Members desirous of obtaining any information on
the financials and operations of the Company, are
Members holding shares in physical form are requested requested to send an email to the Company at least
to submit the form duly completed to the Company seven working days prior to the date of the AGM, so that
at secretarial@camsonline.com or its Registrar and the information can be kept ready during the meeting.
Transfer Agents in physical mode, after normalcy
is restored, or in electronic mode at rnt.helpdesk@ Remote e-Voting Instructions for shareholders
linkintime.co.in as per instructions mentioned in the post change in the Login mechanism for Individual
form. Members holding shares in electronic form are shareholders holding securities in demat mode,
requested to submit the details to their respective pursuant to SEBI circular dated December 09, 2020:

Pursuant to SEBI circular dated December 09, 2020 on e-Voting facility provided by Listed Companies, Individual
shareholders holding securities in demat mode can vote through their demat account maintained with Depositories and
Depository Participants only post June 09, 2021.
Shareholders are advised to update their mobile number and email Id in their demat accounts to access e-Voting facility.
Login method for Individual shareholders holding securities in demat mode/ physical mode is given below:
Type of shareholders Login Method
Individual Shareholders holding • If you are already registered for NSDL IDeAS facility, please visit the e-Services website
securities in demat mode with NSDL of NSDL.
Open web browser by typing the following URL: https://eservices.nsdl.com either on a
Personal Computer or on a mobile. Once the home page of e-Services is launched, click
on the “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’ section. A
new screen will open. You will have to enter your User ID and Password.
• After successful authentication, you will be able to see e-Voting services. Click on “Access
to e-Voting” under e-Voting services and you will be able to see e-Voting page. Click on
company name or e-Voting service provider name and you will be re-directed to e-Voting
service provider website for casting your vote during the remote e-Voting period or joining
virtual meeting and voting during the meeting.
• If the user is not registered for IDeAS e-Services, option to register is available at https://
eservices.nsdl.com. Select “Register Online for IDeAS” Portal or click at https://eservices.
nsdl.com/SecureWeb/IdeasDirectReg.jsp
• Visit the e-Voting website of NSDL. Open web browser by typing the following URL:
https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the
home page of e-Voting system is launched, click on the icon “Login” which is available
under ‘Shareholder/Member’ section. A new screen will open. You will have to enter your
User ID (i.e. your sixteen-digit demat account number hold with NSDL), Password/OTP
and a Verification Code as shown on the screen. After successful authentication, you
will be redirected to NSDL Depository site wherein you can see e-Voting page. Click on
company name or e-Voting service provider name and you will be redirected to e-Voting
service provider website for casting your vote during the remote e-Voting period or joining
virtual meeting and voting during the meeting.
Individual Shareholders holding • Existing user of who have opted for Easi / Easiest, they can login through their user id
securities in demat mode with CDSL and password. Option will be made available to reach e-Voting page without any further
authentication. The URL for users to login to Easi / Easiest are https://web.cdslindia.com/
myeasi/home/login or www.cdslindia.com and click on New System Myeasi.
• After successful login of Easi / Easiest the user will be also able to see the E Voting Menu.
The Menu will have links of e-Voting service provider i.e. NSDL, KFINTEC, LINKINTIME,
CDSL. Click on e-Voting service provider name to cast your vote.
• If the user is not registered for Easi/Easiest, option to register is available at https://web.
cdslindia.com/myeasi/Registration/EasiRegistration
• Alternatively, the user can directly access e-Voting page by providing demat Account
Number and PAN No. from a link in www.cdslindia.com home page. The system will
authenticate the user by sending OTP on registered Mobile and Email as recorded in
the demat Account. After successful authentication, user will be provided links for the
respective ESP where the e-Voting is in progress.
Individual Shareholders (holding • Individual Shareholders holding securities in Physical mode & e-voting service provider is
securities in demat mode) and login Link Intime
through their depository participants • Once login, you will be able to see e-Voting option. Once you click on e-Voting option, you
will be redirected to NSDL/CDSL Depository site after successful authentication, wherein
you can see e-Voting feature. Click on company name or e-Voting service provider name
and you will be redirected to e-Voting service provider website for casting your vote during
the remote e-Voting period or joining virtual meeting and voting during the meeting.

02-35 37-111 112-230
Type of shareholders Login Method

Individual Shareholders holding 1. Open the internet browser and launch the URL: https://instavote.linkintime.co.in
securities in Physical mode and • Click on “Sign Up” under ‘SHARE HOLDER’ tab and register with your following
e-voting service provider is Link Intime details:
A. User ID: Shareholders/members holding shares in physical form shall provide
Event No + Folio Number registered with the Company.
B. PAN: Enter your 10-digit Permanent Account Number (PAN) (Members who
have not updated their PAN with the Depository Participant (DP)/ Company
shall use the sequence number provided to you, if applicable.
C. DOB/DOI: Enter the Date of Birth (DOB) / Date of Incorporation (DOI) (As
recorded with your DP/ Company - in DD/MM/YYYY format)
D. Bank Account Number: Enter your Bank Account Number (last four digits), as
recorded with your DP/Company.
• Shareholders/members holding shares in physical form but have not
recorded ‘C’ and ‘D’, shall provide their Folio number in ‘D’ above
• Set the password of your choice (The password should contain minimum 8
characters, at least one special Character (@!#$&*), at least one numeral, at least
one alphabet and at least one capital letter).
• Click “confirm” (Your password is now generated).
2. Click on ‘Login’ under ‘SHARE HOLDER’ tab.
3. Enter your User ID, Password and Image Verification (CAPTCHA) Code and click on
‘Submit’.
4. After successful login, you will be able to see the notification for e-voting. Select ‘View’
icon.
5. E-voting page will appear.
6. Refer the Resolution description and cast your vote by selecting your desired option
‘Favour / Against’ (If you wish to view the entire Resolution details, click on the ‘View
Resolution’ file link).
7. After selecting the desired option i.e. Favour / Against, click on ‘Submit’. A confirmation
box will be displayed. If you wish to confirm your vote, click on ‘Yes’, else to change your
vote, click on ‘No’ and accordingly modify your vote.
Institutional shareholders Institutional shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodians are
required to log on the e-voting system of LIIPL at https://instavote.linkintime.co.in and register
themselves as ‘Custodian/Mutual Fund/Corporate Body’. They are also required to upload
a scanned certified true copy of the board resolution/authority letter/power of attorney etc.
together with attested specimen signature of the duly authorised representative(s) in PDF
format in the ‘Custodian/ Mutual Fund/Corporate Body’ login for the Scrutinizer to verify the
same.
Individual Shareholders holding • Click on ‘Login’ under ‘SHARE HOLDER’ tab and further Click ‘forgot password?’
securities in Physical mode • Enter User ID, select Mode and Enter Image Verification (CAPTCHA) Code and Click on
and e-voting service Provider is ‘Submit’.
LINKINTIME, have forgotten the
• In case shareholders/members is having valid email address, Password will be sent to
password
his/her registered e-mail address.
• Shareholders/members can set the password of his/her choice by providing the
information about the particulars of the Security Question and Answer, PAN, DOB/DOI,
Bank Account Number (last four digits) etc. as mentioned above.
• The password should contain minimum 8 characters, at least one special character
(@!#$&*), at least one numeral, at least one alphabet and at least one capital letter.
Individual Shareholders holding • Shareholders/ members who are unable to retrieve User ID/ Password are advised to
securities in demat mode with NSDL/ use Forget User ID and Forget Password option available at abovementioned depository/
CDSL have forgotten the password depository participants website.
1. It is strongly recommended not to share your password with any other person and
take utmost care to keep your password confidential.
2. For shareholders/members holding shares in physical form, the details can be used
only for voting on the resolutions contained in this Notice.
3. During the voting period, shareholders/members can login any number of time till
they have voted on the resolution(s) for a particular “Event”.

Helpdesk for Individual Shareholders holding securities in demat mode:

In case shareholders/members holding securities in demat mode have any technical issues related to login through Depository
i.e. NSDL/ CDSL, they may contact the respective helpdesk given below:
Login type Helpdesk details

Individual Shareholders holding securities in demat Members facing any technical issue in login can contact NSDL helpdesk by
mode with NSDL sending a request at evoting@nsdl.co.in or call at toll free no.: 1800 1020 990
and 1800 22 44 30
Individual Shareholders holding securities in demat Members facing any technical issue in login can contact CDSL helpdesk by sending
mode with CDSL a request at helpdesk.evoting@cdslindia.com or contact at 022-23058738 or
22-23058542-43
elpdesk for Individual Shareholders holding securities

H C. Mobile No.: Enter your mobile number.
in physical mode/Institutional shareholders and e-voting
service Provider is LINKINTIME. D. Email ID: Enter your email id, as recorded
In case shareholders/ members holding securities in with your DP/Company.
physical mode/Institutional shareholders have any queries
regarding e-voting, they may refer the Frequently Asked  Click “Go to Meeting” (You are now registered for
Questions (‘FAQs’) and InstaVote e-Voting manual available InstaMeet and your attendance is marked for the
at https://instavote.linkintime.co.in, under Help section or meeting).
send an email to enotices@linkintime.co.in or contact on: -
Tel: 022-4918 6000. Note: Please read the instructions carefully and participate in
the meeting. You may also call upon the InstaMeet Support
• Instructions for attending the AGM through VC: Desk for any support on the dedicated number provided to
you in the instruction/InstaMeet website.
1) Open the internet browser and launch the URL: https://
instameet.linkintime.co.in • Instructions for Shareholders/Members to Speak
during the Annual General Meeting through
 Select the “Company” and ‘Event Date’ and
InstaMeet:
register with your following details:
1) Shareholders who would like to speak during
A. Demat Account No. or Folio No: Enter your
the meeting must register their request 3 days
16 digit DEMAT Account No. or Folio No.
in advance with the company on secretarial@
• Shareholders/members holding shares camsonline.com
in CDSL DEMAT account shall provide
16 Digit Beneficiary ID 2) Shareholders will get confirmation on first cum first
basis depending upon the provision made by the
• Shareholders/members holding shares client.
in NSDL DEMAT account shall provide
8 Character DP ID followed by 8 Digit 3) Shareholders will receive “speaking serial number”
Client ID once they mark attendance for the meeting.
• Shareholders/members holding shares 4) Other shareholder may ask questions to the

in physical form shall provide Folio panellist, via active chat-board during the meeting.
Number registered with the Company
5) Please remember your speaking serial number and
B. PAN: Enter your 10-digit Permanent Account start your conversation with panellist by switching
Number (PAN) (Members who have not on video mode and audio of your device.
updated their PAN with the Depository
Participant (DP)/Company shall use the Note: Shareholders are requested to speak only when
sequence number provided to you, if moderator of the meeting/management will announce the
applicable. name and serial number for speaking.

02-35 37-111 112-230
Instructions for Shareholders/ Members to Vote during Please note that Shareholders/ Members connecting from
the Annual General Meeting through InstaMeet: Mobile Devices or Tablets or through Laptops connecting
Once the electronic voting is activated by the scrutinizer/ via Mobile Hotspot may experience Audio/Visual loss due to
moderator during the meeting, shareholders/ members who fluctuation in their network. It is therefore recommended to
have not exercised their vote through the remote e-voting use stable Wi-Fi or LAN connection to mitigate any kind of
can cast the vote as under: aforesaid glitches.
1. On the Shareholders VC page, click on the link for In case shareholders/ members have any queries regarding
e-Voting “Cast your vote” login/ e-voting, they may send an email to instameet@
linkintime.co.in or contact on: - Tel: 022-49186175.
2. Enter your 16 digit Demat Account No. / Folio No.
and OTP (received on the registered mobile number/ 20. Procedure for Remote e-voting:
registered email Id) received during registration for In compliance with the provisions of Section 108 of the
InstaMEET and click on ‘Submit’. Act read with Rule 20 of the Companies (Management
and Administration) Rules, 2014, as amended and the
3. After successful login, you will see “Resolution provisions of Regulation 44 of the Listing Regulations,
Description” and against the same the option “Favour/ Members are provided with the facility to cast their vote
Against” for voting.
electronically, through the e-voting services provided by
Link Intime on all Resolutions set forth in this Notice,
4. Cast your vote by selecting appropriate option i.e.
through remote e-voting. It is hereby clarified that it is
“Favour/Against” as desired. Enter the number of
not mandatory for a Member to vote using the remote
shares (which represents no. of votes) as on the cut-off
e-voting facility. The remote e-voting facility will be
date under ‘Favour/Against’.
available during the following period:
5. After selecting the appropriate option i.e. Favour/ Day, date and time of From Monday, July 26, 2021 at
Against as desired and you have decided to vote, Commencement of 09.00 A.M. (IST)
remote e-voting
click on “Save”. A confirmation box will be displayed. If
you wish to confirm your vote, click on “Confirm”, else Day, date and time of To Wednesday, July 28, 2021
end of remote e-voting at 05.00 P.M. (IST)
to change your vote, click on “Back” and accordingly beyond which remote
modify your vote. e-voting will not be
allowed
6. Once you confirm your vote on the resolution, you will not
be allowed to modify or change your vote subsequently. The remote e-voting will not be allowed beyond the
aforesaid date and time and the e-voting module shall
Note: be disabled by Link Intime upon expiry of the aforesaid
Shareholders/ Members, who will be present in the Annual period.
General Meeting through InstaMeet facility and have not
casted their vote on the Resolutions through remote e-Voting The remote e-voting module shall be disabled for voting
and are otherwise not barred from doing so, shall be eligible thereafter. Once the vote on a resolution(s) is cast by
to vote through e-Voting facility during the meeting. the Member, the Member shall not be allowed to change
it subsequently.
Shareholders/ Members who have voted through Remote
e-Voting prior to the Annual General Meeting will be eligible A Member may avail of the facility at his/her/its
to attend/ participate in the Annual General Meeting through discretion, as per the instructions provided herein:
InstaMeet. However, they will not be eligible to vote again
during the meeting. Instructions
a. Member will receive an e-mail from Link Intime
Shareholders/ Members are encouraged to join the Meeting [for Members whose e-mail IDs are registered
through Tablets/ Laptops connected through broadband for with the Company/Depository Participant(s)]
better experience. which includes details of E-Voting Event Number
(“EVEN”), USER ID and password:
Shareholders/ Members are required to use Internet with a
good speed (preferably 2 MBPS download stream) to avoid i. Launch internet browser by typing the URL:
any disturbance during the meeting. https://evoting.linkintime.com.

ii. Enter the login credentials (i.e. User ID and i.e., the Member neither assents nor dissents
password). In case of physical folio, User ID to the Resolution, then his/her/ its vote will
will be EVEN (e-voting Event Number) xxxx be treated as an invalid vote with respect to
followed by folio number. In case of Demat that Resolution.
account, User ID will be your DP ID and Client
ID. However, if you are already registered ix. Members holding multiple folios/ demat
with Link Intime for e-voting, you can use your accounts shall choose the voting process
existing User ID and password for casting separately for each of the folios/ demat
your vote. accounts.
iii. After entering these details appropriately, x. Voting has to be done for each item of the
click on “LOGIN”. Notice separately. In case you do not desire
to cast your vote on any specific item, it will be
iv. You will now reach password change Menu treated as abstained.
wherein you are required to mandatorily
change your password. The new password xi. You may then cast your vote by selecting an
shall comprise minimum 8 characters with at appropriate option and click on “Submit”.
least one upper case (A-Z), one lower case (a-
z), one numeric (0-9) and a special character xii. A confirmation box will be displayed. Click
(@,#,$,etc.). The system will prompt you “OK” to confirm else “CANCEL” to modify.
to change your password and update your Once you confirm, you will not be allowed to
contact details like mobile number, email modify your vote. During the voting period,
ID, etc., on first login. You may also enter a Members can login any number of times till
secret question and answer of your choice to they have voted on the Resolution(s).
retrieve your password in case you forget it.
It is strongly recommended that you do not xiii. Corporate/Institutional Members (i.e. other
share your password with any other person than Individuals, HUF, NRIs, etc.) are
and that you take utmost care to keep your required to send scanned certified true
password confidential. copy (PDF Format) of the Board Resolution/
Authority Letter, etc., together with attested
v. You need to login again with the new specimen signature(s) of the duly authorized
credentials. representative(s), to the Scrutinizer at e-mail
ID: bchandraandassociates@gmail.com with
vi. On successful login, the system will prompt a copy to enotices@linkintime.co.in and to
you to select the EVEN for Computer Age the Company at secretarial@camsonline.
Management Services Limited. com. They may also upload the same in the
e-voting module in their login. The scanned
vii. On the voting page, enter the number of image of the above mentioned documents
shares (which represents the number of should be in the naming format “Corporate
votes) as on the cut-off date i.e. July 21, 2021 Name EVENT NO”
under “FOR/ AGAINST” or alternatively, you
may partially enter any number in “FOR” and It should reach the Scrutiniser and the
partially in “AGAINST” but the total number Company by email not later than Wednesday,
in “FOR/ AGAINST” taken together should July 28, 2021 at 05.00 P.M. (IST). In case if
not exceed your total shareholding as on the the authorized representative attends the
cut-off date. Meeting, the above-mentioned documents
shall be submitted before the commencement
viii. Pursuant to Clause 16.5.3(e) of Secretarial of AGM.
Standard on General Meetings (“SS-2”)
issued by the Council of the Institute of b. In case e-mail ID of a Member is not registered
Company Secretaries of India and approved with the Company/ Depository Participant(s), then
by the Central Government, in case a such Member is requested to register/ update their
Member abstains from voting on a Resolution e-mail addresses with the Depository Participant

02-35 37-111 112-230
(in case of Shares held in dematerialised consolidated Scrutinizer’s Report and submit the
form) and inform Link Intime at the email ID: same to the Chairman of the Company or any other
evoting@linkintime.com (in case of Shares held person of the Company authorised by the Chairman,
in physical form): who shall countersign the same. The Results shall be
declared not later than forty-eight hours from conclusion
i. Upon registration, Member will receive an of the Meeting.
e-mail from Link Intime which includes details
of E-Voting Event Number (EVEN), USER ID The Results declared along with the consolidated
and password. Scrutinizer’s Report shall be hosted on the website
of the Company at www.camsonline.com and on the
ii. Please follow all steps from Note. No. 21 (a) website of Link Intime at https://evoting.linkintime.com
(i) to (xii) above to cast your vote by electronic immediately after the Results are declared and will
means. simultaneously be forwarded to BSE Limited and the
National Stock Exchange of India Limited, where Equity
21. Voting during the AGM: Shares of the Company are listed.
i. The procedure for remote e-voting during the AGM
is same as the instructions mentioned for remote The Resolutions shall be deemed to be passed on
e-voting since the Meeting is being held through the date of the Meeting, i.e. July 29, 2021, subject to
VC/OAVM. receipt of the requisite number of votes in favour of
the Resolutions.
ii. The e-voting window shall be activated upon
instructions of the Chairman of the Meeting during 23. Speaker Registration before AGM:
the AGM. Members of the Company, holding shares as on the
cut -off date i.e. July 21, 2021 and who would like to
iii. E-voting during the AGM is integrated with the speak or express their views or ask questions during
VC platform and no separate login is required for the AGM may register as speakers by sending their
the same. The Members shall be guided on the request from their registered e-mail address mentioning
process during the AGM. their Name, DP ID and Client ID/folio number, PAN,
Mobile number at secretarial@camsonline.com from
iv. Only those Members/Shareholders, who will be 05.00 P.M. (IST) on 24.07.2021(Saturday) till 05.00 P.M.
present in the AGM through VC/OAVM facility and (IST) on 27.07.2021(Wednesday). Those Members
have not cast their vote on the Resolutions through who have registered themselves as a speaker will only
remote e-voting and are otherwise not barred from be allowed to speak/express their views/ask questions
doing so, shall be eligible to vote through e-voting during the AGM. The Company reserves the right to
system in the AGM. restrict the number of speakers depending on the
availability of time at the AGM.
v. Members who have cast their vote by remote
e-voting prior to the AGM will also be eligible to By Order of the Board
participate at the AGM but shall not be entitled to
cast their vote again. Sd/-
Manikandan Gopalakrishnan
22. Scrutinizer for e-voting and Declaration of Results: Company Secretary
Ms. B. Chandra (Membership No. A20879) of M/s. Registered Office:
B. Chandra and Associates, Practising Company New No. 10, Old No. 178,
Secretaries, have been appointed as Scrutinizer to M.G.R. Salai, Nungambakkam,
scrutinize the e-voting process as well as e-voting Chennai-600034, Tamilnadu, India
during the AGM, in a fair and transparent manner. CIN: L65910TN1988PLC015757
Email: secretarial@camsonline.com
The Scrutinizer will, after the conclusion of the e-voting Website: www.camsonline.com
at the Meeting, scrutinise the votes cast at the Meeting Place: Chennai
and votes cast through remote e-voting, make a Date: June 24, 2021

EXPLANATORY STATEMENT
ITEM NO. 2
Details of Director(s) seeking re-appointment at the forthcoming Annual General Meeting
Mr. Narendra Ostawal, Non-Executive Nominee Director of the Company, retires by rotation and, being eligible, has offered
himself for re-appointment. Mr. Narendra Ostawal has confirmed that he is not debarred from holding the office of Director by
virtue of any SEBI Order or any other such authority pursuant to circulars dated June 20, 2018 issued by BSE Limited and the
National Stock Exchange of India Limited pertaining to Enforcement of SEBI Orders regarding appointment of Directors by
listed companies.
Information as required under Regulations 26(4) and 36(3) of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and Clause 1.2.5 of the Secretarial Standard on General Meetings (“SS-2”)
is given hereunder:
Name of the Director Mr. Narendra Ostawal

DIN 06530414
Age 43 years
Date of First appointment on the Board 06/09/2018
Brief Resume, Qualification(s), Experience He holds a post graduate diploma in management from Indian Institute of Management
and Nature of expertise in specific functional Bangalore and attended the exchange scholar - business program at the University of
areas, Recognition or awards. Chicago’s Graduate School of Business. He has passed the final examination held by the
Institute of Chartered Accountants of India. He is associated with Warburg Pincus India
Private Limited since 2007 where he currently holds the position of Managing Director. He
has previously been associated with 3i India Private Limited and McKinsey & Company, Inc.
Terms and conditions of appointment/ re- Liable to retire by rotation
appointment
Details of remuneration sought to be paid Nil
Details of remuneration last Drawn (F.Y. 2020- Nil
21)
Shareholding in the Company Nil
Relationship with other Directors and Key None of the Directors of the Company is inter-se related to each other or with the Key
Managerial Personnel Managerial Personnel of the Company
Number of Board Meetings attended during 9
the Financial Year 2020-21
Directorships held in other Companies
S. Company Designation
No.
1 Home First Finance Company India Limited Director
2 India First Life Insurance Company Limited Director
3 Warburg Pincus India Private Limited Director
4 Capital First Limited Director
5 Fusion Micro Finance Private Limited Director
6 Carmel Point Investments India Private Limited Director
7 Avanse Financial Services Limited Director
Chairmanship/ Membership of Board 3

Committees of other Companies
The Board of Directors recommends the members to pass the resolution as set out in Item No.2 of Notice as Ordinary
Resolution.
None of the Directors, Key Managerial Personnel of the Company or their relatives is deemed to be interested or concerned
in the said resolution except Mr. Narendra Ostawal.

02-35 37-111 112-230
EXPLANATORY STATEMENT IN RESPECT 2. Rationale for the variation of the ESOP Scheme
OF THE SPECIAL BUSINESS PURSUANT TO The amendment is proposed to be undertaken in order
SECTION 102 OF THE COMPANIES ACT, 2013 to include express provision in relation to treatment of
vested as well as unvested options in case of retirement
ITEM NO. 4 of the option holders (as per the terms of the retirement
Approval of the ESOP Scheme 2019 along with variation policy of the Company).
in the Terms of the Scheme
The proposed amendment is not detrimental to the
The Company has formulated ESOP Scheme which was
interests of the option holders.
approved by the shareholders of the Company on March
28, 2019 and was amended pursuant to approval received
3. Details of the employees who are beneficiaries of
from the nomination and remuneration committee (“NRC”)
such variation
and Board of Directors (“Board”), at its meeting held on
December 17, 2019 and by the members of the Company All option holders and eligible employees to whom the
pursuant to special resolution(s) passed at the general options would be granted would benefit from the variation.
meeting of the Company held on December 23, 2019.
The Board recommends passing of the resolutions as set out
Based on the recommendations and approval of the NRC, under Item No. 4 of the Notice for approval of the members
approval of the Board, subject to approval of the members, it as a Special resolution.
proposed that the ESOP Scheme be amended.
None of the Directors or Key Managerial Personnel of the
The Resolutions contained at Item no. 4 seek to obtain Company including their relatives are, in any way, concerned
the members’ approval to authorize the Board to amend or interested, financially or otherwise, in the proposed
the ESOP Scheme and do all such acts, matters, deeds resolution(s) except to the extent of the stock options that
and things and to take all steps and do all things and give have been granted or may be granted to them.
such directions as may be required, necessary, expedient,
incidental or desirable for giving effect to the amendment of
ITEM NO. 5
the ESOP Scheme. Approval of ESOP given to the Employees of the
Subsidiary Companies
Draft of the ESOP Scheme with the proposed amendment
The Company proposes to grant of stock options in
shall be electronically available for inspection upon mail
one or more tranches not exceeding 14,62,800 options
request as mentioned in the Notes.
(“Options”) as approved under the CAMS ESOP Scheme
Details of the variations of the ESOP Scheme are 2019, exercisable into equivalent number of equity shares
provided below: of the Company under the CAMS ESOP Scheme 2019 to
the present and future, permanent Employees (as defined
1. Variations in the ESOP Scheme: in the CAMS ESOP Scheme 2019) of Sterling Software
In clause 14.2 of the ESOP Scheme, the following Private Limited, CAMS Insurance Repository Services
paragraph shall be inserted as the last paragraph: Limited, CAMS Investor Services Private Limited, CAMS
Financial Information Services Private Limited and CAMS
“If a Grantee’s employment with the Company Payment Services Private Limited, the Indian subsidiary
terminates for reasons of normal retirement or early companies and to the extent and in the manner as may be
retirement in accordance with the retirement policy permissible under the relevant provisions of the Companies
of the Company and is specifically approved by the Act, 2013, rules made there under and SEBI (Share Based
Company, then all the Options granted to him till such Employee Benefits) Regulations, 2014 and SEBI (Listing
date that have not vested, shall vest on the date of Obligations and Disclosure Requirements) Regulations,
the Grantee’s retirement, subject to Grantee being in 2015), whether in India or abroad, subject to the employees
employment for at least one year from the date of Grant meeting the eligibility criteria and on such other terms as may
of Options. The Vested Options can be exercised by the be determined by the Board of Directors of the Company
Grantee prior to the expiry of the Exercise Period. In (hereinafter referred to as the ‘Board’ which term shall be
the event, one year has not completed from the date of deemed to include the Nomination and Remuneration
Grant of Options and the Option Grantee retires but is Committee of Directors constituted by the Board to exercise
appointed as a non-executive director of the Company its powers including powers conferred by this resolution).
or its Subsidiaries, then the unvested Options would
continue and shall Vest on completion of one year from Accordingly, the Nomination and Remuneration Committee
the date of Grant of Options.” and the Board of Directors of the Company at their meeting

held on March 20, 2020, approved the proposed grant of Board, from time to time. Members are requested to note the
further shares under the CAMS ESOP 2019 subject to your salient features of CAMS ESOP 2019 are as provided below:
approval. In accordance with the terms of this resolution
and the CAMS ESOP 2019, the options would be granted in
one or more tranches and series as may be decided by the
Total number of stock options to be granted A maximum of 14,62,800 (Fourteen Lakhs Sixty-Two Thousand Eight
Hundred) stock options, subject to adjustments as may be required
due to any corporate action.
Each stock option gives the right to convert the same into 1 (one)
equity share of the Company.
Identification of classes of employees entitled to participate in the The Nomination and Remuneration Committee will determine and
CAMS ESOP 2019 and Maximum number of options to be granted designate from time to time such Eligible Employees including the
per employee and in aggregate employees of its subsidiaries to whom Options are to be issued, the
number of such Options and also the maximum number of options
per employee.
Appraisal process for determining the eligibility of employees to the The Nomination and Remuneration Committee will consider the
CAMS ESOP 2019 qualification, experience, hierarchy level in the organization or
performance of an Employee as indicated by the annual performance
appraisal, minimum period of service, the position and responsibilities
of an Employee, the nature and value to the Company of his services
and accomplishments, his present and potential contribution to the
success of the Company, past service and geographical location and
such other factors that the Nomination and Remuneration Committee
may deem relevant.
Requirements of vesting and vesting period Vesting of the Options granted pursuant to CAMS ESOP 2019 will
be at least one year from the date of Grant and could be different for
different Employees as more particularly set forth in the Grant. The
maximum period within which the Options shall be vested under the
Scheme shall be five years from the date of the Grant or such other
period as may be decided by the Nomination and Remuneration
Committee from time to time.
Maximum period of vesting All the options vests from the end of one year and the maximum
period of vesting is four years from the date of allotment of the option.
Exercise price or the formula for arriving at the exercise price As determined by the Nomination and Remuneration Committee in
accordance with the CAMS ESOP 2019.
Exercise period and Exercise Process As per the CAMS ESOP 2019.
Lock-in Table As determined by the Nomination and Remuneration Committee in
accordance with the CAMS ESOP 2019.
Shares issued under CAMS ESOP 2019 shall be subject to transfer
restrictions as provided in the Articles of Association of the Company
and such lock-in restrictions, if required under Applicable Laws and
/ or if determined by the Nomination and Remuneration Committee
from the date of allotment of Shares under the CAMS ESOP 2019.
Maximum number of options to be granted per employee and in The Maximum Number of options that will be granted per employee
aggregate will be as determined by the Nomination and Remuneration
Committee.
Method used to value options The Company shall adopt the fair value method of valuation of
options. Notwithstanding the above, the Company may adopt any
other method as may be required under prevailing applicable laws
and regulations.
Conditions under which option vested in employees may lapse The Options shall lapse if not exercised within the specified exercise
period and other specific instances as stipulated in the scheme.
Time period for exercising the vested options in the event of proposed Voluntary Resignation - Exercise within 6 months from date of
termination or resignation of the employee acceptance of resignation.
Issue of new shares or secondary acquisition Company shall issue new shares on exercise of stock options under
the CAMS ESOP 2019.
Compliance with accounting standards The Company shall be complying with the applicable accounting
standards.

02-35 37-111 112-230
Pricing formula and Exercise Price: The stock options of the options that may be granted to him/Equity shares that
would be issued to the eligible employees / directors at the may get converted on vesting of those options.
latest available closing price on the stock exchange on which
the shares of the Company are listed on the date immediately ITEM NO.6
prior to the date on which the options are approved by the Appointment of Mr. Anuj Kumar (DIN: 08268864) as
NRC for being granted. As the shares of the Company are Managing Director of the Company
listed on more than one stock exchange, the latest available
The Company had appointed Mr. Anuj Kumar as Whole-time
closing price on the stock exchange with higher trading
Director (WTD) and Chief Executive Officer (CEO) of the
volume on the said date shall be considered. In terms of the
Company on November 06, 2018 for a period of five years.
applicable provisions of the Income Tax Act, 1961 and other
Apart from being WTD and CEO of the Company, he is a
applicable laws, the eligible employees shall be liable to pay
Director of Sterling Software Private Limited, a subsidiary of
the amount of perquisite tax and/or other taxes, charges and
the Company.
levies (by whatever name called) in respect of the options
exercised, if any. It is further clarified that the Company
Considering his knowledge of various aspects relating to
shall be entitled to receive the entire consideration and the
the Company’s affairs and extensive business experience,
perquisite tax and/or other taxes, charges and levies (by
the Board of Directors is of the opinion that for smooth and
whatever name called) at the time of exercise of the options
efficient running of the business of the Company, Mr. Anuj
by the eligible employees, irrespective of when the Company
Kumar should be appointed as Managing Director.
may be required to deposit the tax with the relevant authority.
Mr. Anuj Kumar has given his consent to act as Managing

Exercise period and process of exercise: The vested
Director and is not disqualified from being appointed as
options shall be allowed for exercise on and from the date
Director in terms of Section 164 of Companies Act, 2013.
of vesting. The vested options need to be exercised within
such period as may be prescribed by the NRC subject to a
In terms of the provisions of the Act and the Articles
maximum period of 5 years from the date of vesting of such
of Association of the Company, the Nomination and
options. The options will be exercisable by the employee
Remuneration Committee and the Board of Directors at its
by submitting a written notice of exercise to the Company
meeting held on May 25, 2021 appointed him as Managing
to exercise the options in such manner and as per the
Director of the Company for a period of 5 (Five) years from
prescribed format, and along with full payment for the shares
August 01, 2021 to July 31, 2026, upon the terms and
with respect to which the options are exercised and the
conditions hereinafter indicated, subject to the approval of
amount of applicable tax, if any. The maximum number of
the shareholders at the Annual General Meeting (AGM) of
options to be issued to any eligible employee/director during
any one year will be decided by the NRC, subject however the Company to be held on July 29, 2021.
that the same shall be less than 1% of the issued equity
As per Article 133(e) of the Articles of Association of the
shares of the Company as on the date of grant.
Company, the Managing Director shall not be liable to
Listing: The shares allotted pursuant to the exercise of the retirement by rotation as long as he holds office as Managing
stock options, shall be listed on BSE Limited and National Director.
Stock Exchange of India Limited.
Mr. Anuj Kumar, aged 54 years joined the Company after 25
The resolution and the terms stated therein shall be subject years of professional experience with Godrej and Boyce Mfg.
to the guidelines/regulations issued/to be issued by statutory Co. Ltd., Blow Plast Limited, Escorts Finance Limited, Bill
authorities in that behalf and the NRC shall have the sole and Junction Payments Limited, IBM India Private Limited and
absolute authority to modify the terms herein which do not Concentrix Daksh Services India Private Limited. He holds
conform with the provisions of the said guidelines/ regulations. a Bachelor degree in Mechanical Engineering from Birla
Institute of Technology, Ranchi and a Post Graduate Diploma
The Board recommends the passing of the resolution as set in Management (PGDM) from IIM, Kolkata.
out at Item No. 5 of this Notice, as a Special resolution by the
shareholders of the Company. Brief resume of Mr. Anuj Kumar, nature of his expertise in
specific functional areas, names of companies in which he
None of the Directors of the Company except Mr. Anuj Kumar holds directorships and memberships / chairmanships of
is in any way, concerned or interested in the resolution. Mr. Board Committees and shareholding etc. as stipulated under
Anuj Kumar may be deemed to be interested to the extent the Listing Regulations is annexed to this Notice.

Terms and Conditions of Appointment and Remuneration (d) Subject to the superintendence, control and
of Managing Director direction of the Board, Managing Director shall
The principle terms and conditions of appointment of
(i) have the general control of the business
Mr. Anuj Kumar as the Managing Director are as follows:
of the Company and be vested with the
Management and day to day affairs of the
I. Period of appointment
Company
Five years commencing from August 01, 2021 to
July 31, 2026 (ii) have the authority to enter into contracts on
behalf of the Company in the ordinary course
Managing Director shall not be liable to retire by rotation. of business and
II.
Powers and Responsibilities as the Managing (iii) have the authority to do and perform all
Director other acts and things which in the ordinary
course of such business he may consider
(a) As the Managing Director, Mr. Anuj Kumar will
necessary or proper in the best interest of
to the best of his skill and ability, endeavour to
the Company.
promote the interests and welfare of the Company
and to conform to and comply with the directions III. Remuneration
and regulations of the Company carry out such
A. Gross remuneration
functions, exercise such powers and perform such
duties as the Board of Directors of the Company In consideration of the performance of his duties,
(hereinafter called “the Board”) shall from time the Company shall pay to Mr. Anuj Kumar the
to time in its absolute discretion determine and fixed gross remuneration of Rs. 3,52,00,000/- per
entrust to him, subject, nevertheless to the annum (consisting of both fixed pay of Rs. 198
provisions of the Companies Act, 2013 or any lacs and variable pay of Rs. 154 lacs and including
statutory modifications or re-enactment thereof for value of any perquisites and retiral benefits such
the time being in force. as such as provident fund, gratuity etc.) with such
increments as may be approved by the Board of
(b) Managing Director shall devote the whole of Directors (which includes any Committee thereof)
his time, attention and abilities to manage the from time to time.
business of the Company and shall use his best
The gross remuneration shall be categorized as
endeavour to promote its interest and welfare
follows:
and carry out such duties as may be separately
communicated to him and such powers as may (a)
Salary:
be assigned to him, subject to superintendence,
Rs. 3,52,00,000/- per annum (consisting of
control and directions of the Board in connection
both fixed pay of Rs. 198 lacs and variable
with and in the best interests of the business of
pay of Rs. 154 lacs and including value of any
the Company and the business of any one or more
perquisites and retiral benefits such as such
of its associated companies and/or subsidiaries,
as provident fund, gratuity etc.) being paid for
including performing duties as assigned by the
the financial year 2021-22.
Board from time to time by serving on the boards
of such associated companies and/or subsidiaries The increment as and when approved by
or any other executive body or any committee of the Board shall be merit based and will take
such a company. into account the performance as Managing
Director as well as that of the Company such
(c) Managing Director shall at all times act in the that the overall remuneration does not exceed
best interests of the Company and all its the limits permitted under section 197.
stakeholders (including its minority shareholders)
and keep the Board of Directors informed of any (b)
Sitting fees
developments or matters that have materially Mr. Anuj Kumar shall not be paid sitting fees
impaired, or are reasonably likely to materially for attending the meetings of the Board
impair, the interests of the Company and/or any of of Directors of the Company including
its stakeholders. Committee Meetings.

02-35 37-111 112-230
(c)
Allowances: based on the parameters as may be decided
The Company follows the Flexible Allowances by the NRC and Board.
Structure for its Senior Management that
enables the employees in that cadre to decide (f) Employee Stock Option Plan (ESOP):
the salary components other than the basic Mr. Anuj Kumar shall be entitled for the grant
salary within the gross remuneration paid of ESOP Shares as per the CAMS ESOP
to them. 2019 guidelines and as may be approved by
the Nomination and Remuneration Committee
Other allowances and perquisites like House / Board of Directors from time to time.
Rent Allowance (HRA), Soft Furnishing
Allowance, Leave Travel Concession (LTC), Under the CAMS ESOP 2019 scheme,
Medical Reimbursement, Special Allowance Mr. Anuj Kumar has been granted 1,40,391
etc., the same may be decided by him shares till date and he holds 10,500 equity
following the flexible allowance structure of shares of the Company as on date.
the Company.
(g)
Reimbursements:
(d)
Perquisites:
Managing Director shall be entitled to be paid /
In addition to the above-mentioned reimbursed by the Company all costs, charges
Allowances, Mr. Anuj Kumar would be paid/
and expenses including entertainment
entitled for the following perquisites:
expenses as may be reasonably incurred
(i) Mediclaim and Personal Accident by him for the purpose of or on behalf of the
Insurance - Mediclaim and Personal Company subject to such ceiling as may be
Accident Insurance Policy for such decided by the Board on the recommendation
amount as per the rules of the Company. of the Nomination and Remuneration
Committee.
(ii) Contribution to Provident Fund - The
Company’s contribution to Provident (h)
Income Tax:
Fund as per the applicable laws. Income Tax in respect of the above
remuneration will be deducted at source as
(iii) Gratuity - Gratuity at an applicable rate
per the applicable Income Tax Laws / Rules.
from the basic salary earned for each
completed year of service.
B. Overall remuneration:
(iv) Leave - Entitled for leave with full pay or The aggregate of salary, allowances, perquisites
encashment thereof as per the rules of and performance bonus in any one financial year
the Company. shall not exceed the limits prescribed under Section
197, 198 and other applicable provisions of the
(v) Other perquisites - Subject to overall Companies Act, 2013 read with Schedule V to the
ceiling on remuneration mentioned said Act or any modifications or re-enactment for
herein below, Mr. Anuj Kumar may be the time being in force.
given any other allowances, benefits
and perquisites as the Board of Directors IV. Other terms of Appointment
(which includes any Committee thereof)
A. Directorship in other Companies
may from time to time decide.
During the currency of this Agreement, Managing
Explanation: Perquisites shall be evaluated Director shall not directly or indirectly engage
as per Income Tax Rules, wherever applicable himself in any other employment, business or
and in absence of any such rule, perquisites occupation of whatsoever nature. However,
shall be evaluated at actual cost. he may with the prior approval of the Board of
Directors and subject to the provisions of the SEBI
(e)
Performance Incentive: (Listing Obligations and Disclosure Requirements)
The Quantum of Variable Pay shall be decided Regulations, 2015 and the Companies Act, 2013,
by the NRC and Board on an annual basis hold Directorship in other companies and/or
and can be higher by a maximum of 25% provide services to other group Companies.

B. Miscellaneous (b) In the event of any serious repeated or

(i) The terms and conditions of the appointment continuing breach (after prior warning)
and remuneration of the Managing Director or non-observance by the Managing
may be altered and varied from time to time Director of any of the stipulations
by the Board/its committee as it may, in its contained in the agreement to be
discretion, deem fit, in accordance with the executed between the Company and the
provisions of the SEBI (Listing Obligations Managing Director; or
and Disclosure Requirements) Regulations,
2015 and Companies Act, 2013, within the (c) In the event the Board of Directors deem
limits stipulated under Schedule V to the Act, it necessary to terminate the services of
the Managing Director.
or any amendments made hereinafter in this
regard in such manner as may be agreed
(iii) In the event the Managing Director is not in a
between the Board/its committee and the
position to discharge his official duties due to
Managing Director, subject to such approvals
any physical or mental incapacity, the Board
as may be required.
of Directors shall be entitled to terminate
his contract on such terms as the Board of
(ii) All Personnel Policies of the Company and
Directors may consider appropriate in the
the related Rules, which are applicable to
circumstances.
other employees of the Company, shall also
be applicable to the Managing Director,
(iv) Upon the termination by whatever means of
unless specifically provided otherwise.
the Managing Director’s employment:
(iii) The terms and conditions of appointment
(a) he shall immediately cease to hold
of the Managing Director also include
offices held by him in subsidiaries and
clauses pertaining to adherence with the
associate companies without claim
Code of Conduct, intellectual property, non-
for compensation for loss of office;
competition, non-solicitation, no conflict of
and return vacant possession of the
interest with the Company and maintenance
Company’s premises, if any, occupied
of confidentiality.
by him and/or his family;
(iv) The Managing Director shall not become

(b) he shall not, without the consent of
interested or otherwise concerned, directly
the Company at any time thereafter
or through his spouse and/or children or any
represent himself as connected with the
other member of the family, in any selling
Company or any of the subsidiaries and
agency of the Company. associate companies.
C. Termination of Agreement (v) If and when the Agreement expires or is

(i) Either party may terminate this agreement by terminated for any reason whatsoever,
giving to the other party 3 months’ notice of or, if Mr. Anuj Kumar ceases to be in the
such termination or by surrendering 3 months’ employment of the Company for any reason
remuneration in lieu thereof. whatsoever, he will cease to be the Managing
Director and also cease to be a Director.
(ii) The employment of the Managing Director
may be terminated by the Company without (vi) If at any time, Mr. Anuj Kumar ceases to be
notice or payment in lieu of Notice: a Director of the Company for any reason
whatsoever, he shall cease to be the
(a) If the Managing Director is found Managing Director, and the Agreement shall
guilty of any gross negligence, default forthwith terminate.
or misconduct in connection with or
affecting the business of the Company or In accordance with the provisions of Sections,
any subsidiary or associated company to 196, 197 and other applicable provisions of the
which he is required to render services; Companies Act, 2013 read with Schedule V to
or the said Act and Companies (Appointment and

02-35 37-111 112-230
Remuneration of Managerial Personnel) Rules, Directors is being placed before the shareholders
2014, the proposed appointment and the terms of for their approval and the shareholders are
remuneration payable to Mr. Anuj Kumar requires requested to pass the Ordinary Resolution
approval of shareholders of the Company by accordingly.
passing Ordinary Resolution.
None of the Directors, Key Managerial Personnel
Hence, the resolution at Item No.6 for appointment of the Company or their relatives is deemed to
of Mr. Anuj Kumar as Managing Director of the be interested or concerned in the said resolution
Company, as recommended by the Nomination except Mr. Anuj Kumar.
and Remuneration Committee and the Board of
Brief resume of Mr. Anuj Kumar, nature of his expertise in specific functional areas, names of companies in which he holds
directorships and memberships / chairmanships of Board Committees and shareholding etc. as stipulated under the Listing
Regulations, is provided as below:
Name: Mr. Anuj Kumar
DIN 08268864
Date of Birth 13/01/1967
Age 54 years
Nationality Indian
Date of Appointment as Whole-time 06/11/2018

Director and Chief Executive Officer
Qualification He holds a Bachelor degree in Mechanical Engineering from Birla Institute of Technology, Ranchi
and a Post Graduate Diploma in Management (PGDM) from IIM, Kolkata
Experience 25 years of professional experience with Godrej & Boyce Mfg. Co. Ltd., Blow Plast Limited, Escorts
Finance Limited, BillJunction Payments Limited, IBM India Private Limited and Concentrix Daksh
Services India Private Limited.
Directorship held in other companies Company Details Designation
Sterling Software Private Limited Subsidiary of Computer Age Director

Management Services Limited
Committee Membership Company Committee Designation
Computer Age Management Corporate Social Responsibility Member

Services Limited (CAMS) (CSR) Committee
Risk Management Committee Member
Sterling Software Private Limited CSR Chairman
Number of shares held in the Company 10,500 equity shares by way of exercise of ESOP

Item No. 7 of the date of the draft red herring prospectus to be filed by
Amendment of the Articles of Association the Company pursuant to the IPO, continues to hold at least
10% of the issued share capital of the Company, on a fully
The Company had procured the consent of Shareholders in its
diluted basis, and such shareholder is not categorized as a
previous meeting held on August 31, 2020, for the deletion of
promoter of the Company, such shareholder shall have the
Part II of the Articles of Association as the same is pertaining
right to appoint one nominee Director on the Board. As part of
to the previous set of shareholders on the contingency of
IPO process, such special right to nominate a director on the
issue of Initial Public Offering (“IPO”) and getting listed.
Board of the Company shall be exercised only after obtaining
The Company issued IPO was listed in the Bombay Stock shareholders’ approval through a special resolution after the
Exchange (“BSE”) with effect from October 01, 2020. IPO. Therefore, it is proposed to approve Article 103A as a
Special Resolution.
Considering the present scenario, it is necessary to delete
existing Part II of the Articles of Association, with the approval Draft of the revised Articles of Association with the proposed
of the members of the Company. amendment shall be electronically available for inspection
upon mail request as mentioned in the Notes.
Draft of the revised Articles of Association with the proposed
amendment shall be electronically available for inspection The Board recommends the passing of the resolution as set
upon mail request as mentioned in the Notes. out at Item No. 8 of this Notice, as a Special resolution by the
shareholders of the Company.
The Board recommends the passing of the resolution as set
out at Item No. 7 of this Notice, as a Special resolution by the None of the Directors of the Company or key managerial
shareholders of the Company. personnel or their relatives is, in any way, concerned or
interested in the resolution.
None of the Directors of the Company or key managerial
personnel or their relatives is, in any way, concerned or Item No. 9
interested in the resolution. Regularisation of Mr. Sandeep Kagzi (DIN: 08264768) as
Director
ITEM NO. 8 Mr. Sandeep Kagzi (DIN: 08264768), Non-Executive Director
Ratification and Approval of Article 103A of the Articles of the Company, being eligible to be appointed as a Director,
of Association is not debarred from holding the office of Director by virtue
The Company has successfully completed its Initial Public of any SEBI Order or any other such authority pursuant to
Offering (IPO) of Equity Shares during the Financial Year circulars dated June 20, 2018 issued by BSE Limited and
2021 and the Equity Shares of the Company got listed on BSE the National Stock Exchange of India Limited pertaining
Limited with effect from October 01, 2020 and subsequently to Enforcement of SEBI Orders regarding appointment of
on the NSE with effect from May 07, 2021. Prior to the IPO, Directors by listed companies.
the Company had entered into shareholders’ agreement
dated March 07, 2018 as amended by amendment Mr. Sandeep Kagzi was appointed as Additional Director of
agreements dated November 02, 2018 and September the Company with effect from June 22, 2021 by the Board of
02, 2020 and a waiver cum amendment agreement dated Directors based on the recommendation of the nomination
December 31, 2019 with Great Terrain Investment Ltd and and remuneration committee under Section 161 of the Act
others (collectively the “SHA”). and as per the Company’s Articles of Association.
It was agreed amongst the Company and the other parties In terms of Section 161(1) of the Act, Mr. Sandeep Kagzi,
to the SHA that after the consummation of the IPO, (a) as holds office only up to the date of the forthcoming AGM but is
long as any shareholder is categorized as a promoter of eligible for appointment as a Director.
the Company, each such shareholder shall have the right to
appoint two nominee Directors on the Board, and (b) as long Information as required under Regulations 26(4) and 36(3)
as any shareholder, being a shareholder of the Company as of the Securities and Exchange Board of India (Listing

02-35 37-111 112-230
Obligations and Disclosure Requirements) Regulations, 2015 and Clause 1.2.5 of the Secretarial Standard on General
Meetings (“SS-2”) is given hereunder:
Name of the Director Mr. Sandeep Kagzi

DIN 08264768
Age 37 years
Date of First appointment on the Board 22.06.2021
Brief Resume, Qualification(s), Experience and Nature of expertise in Mr Sandeep is based in Mumbai and is part of the team of Warburg
specific functional areas, Recognition or awards. Pincus (“WP”). Prior to joining WP, he worked at J.P. Morgan in the
Industrials Investment Banking Group in New York. He is a Director of
IMC Limited. Sandeep received a B.S., in Economics and Computer
Science from Duke University and an M.B.A. from the Stanford
Graduate School of Business, where he was an Arjay Miller Scholar.
Terms and conditions of appointment/ re-appointment Liable to retire by rotation
Details of remuneration sought to be paid Nil
Details of remuneration last Drawn (F.Y. 2020-21) Nil
Shareholding in the Company Nil
Relationship with other
Directors and Key Managerial Personnel None of the Directors of the Company is inter-se related to each other
or with the Key Managerial Personnel of the Company
Number of Board Meetings attended during the Nil
Financial Year 2020-21
Directorships held in other Companies S. No. Company Designation
1 IMC LIMITED Nominee Director
Chairmanship/ Membership of Board Committees of other Companies Nil
The Board recommends the passing of the resolution as set out at Item No. 9 of this Notice, as an Ordinary resolution by the
shareholders of the Company.
None of the Directors of the Company or key managerial personnel or their relatives is, in any way, concerned or interested
in the resolution.
By Order of the Board
Sd/-
Manikandan Gopalakrishnan
Company Secretary
Registered Office:
New No. 10, Old No. 178, M.G.R. Salai, Nungambakkam, Chennai-600034, Tamilnadu, India
CIN: L65910TN1988PLC015757
Email: secretarial@camsonline.com
Website: www.camsonline.com
Place: Chennai
Date: June 24, 2021

Board’s Report
Dear Members,
Your Directors are pleased to present the Company’s Thirty Third Annual Report and audited financial statements for the year
ended March 31, 2021.
1. FINANCIAL HIGHLIGHTS
The highlights of the Consolidated and Standalone Financial Results are as follows:
Particulars Consolidated Standalone
For the For the For the For the
FY 2020-21 FY 2019-20 FY 2020-21 FY 2019-20
In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs
Revenue from Operations 70,550 69,963 67,375 66,146
Other Income 2,975 2,124 5,860 1,951
Total Income 73,525 72,087 73,235 68,097
Operating expenses 33,916 34,472 34,285 34,053
Other expenses 7,033 6,834 6,305 6,118
Operating Profit 32,576 30,781 32,645 27,926
Depreciation 4,341 5,125 3,939 4,594
Interest 790 972 706 805
Profit Before Tax 27,445 24,684 28,000 22,527
Tax Expenses 6,916 7,495 6,103 6,119
Profit for the year 20,529 17,189 21,897 16,408
Other Comprehensive Income 42 (101) 35 (61)
Total Comprehensive Income for the year 20,571 17,088 21,932 16,347
Earnings per Equity Share
Basic 42.08 35.24 44.89 33.65
Diluted 41.93 35.21 44.72 33.63
Other Equity (including retained earnings) 46,708 50,010 42,092 44,033
Cash and Cash Equivalents and Investments (excluding 30,886 33,921 39,712 41,927
customer collection accounts & lien deposits and
including subsidiary investments in the case of stand-
alone).
2. OVERVIEW OF PERFORMANCE asset class growth was aided by valuation gains

while debt category growth was catalyzed by inflows
During the financial year 20-21, the consolidated
and market gains. Lockdowns across the Country
revenue from operations of the company was at
of varying degrees through the year impacted non-
Rs. 70,550 lacs as against Rs. 69,963 lacs in the previous
mutual fund businesses adversely. The Company has
year. Profit before Tax was Rs. 27,445 lacs as against
also taken various initiatives for automation of different
the previous year PBT of Rs. 24,684 lacs. Earnings Per
Share was Rs. 42.08 as against the previous year which processes and is also for introducing new value-added
was at Rs. 35.24 per share. Though the year started with services. These initiatives also enabled the improved
uncertainty, outlook improved substantially as the year performance.
progressed. Mutual Fund business which constitutes
major component of revenue is largely dependent on 3. SHARE CAPITAL
the assets serviced by the Company. Average Assets There were no changes to the authorized share capital
serviced by the Company grew during the year. Equity during the year. The issued capital as at March 31, 2021

02-35 37-111 112-230
was Rs. 48,79,10,380/- as against Rs.48,76,00,000/- 5. DIVIDENDS

during the previous year. The enhancement in the The Company has a Dividend Distribution Policy
paid-up capital is due to the allotment of shares to the approved by the board containing the requirements
employees against the conversion of the ESOP which prescribed in Regulation 43A of the SEBI (Listing
have become vested to them during the year. Obligations & Disclosure Requirements) Regulations,
2015, and is provided as Part B (VI) to this Report.
The Company has an existing Employees Stock Option
The Dividend Distribution Policy is as also available
Plan under which an aggregate of 6,82,902 options
on the website of the Company at the web-link:
have been granted. Out of these options, 31,038
https://www.camsonline.com/about-cams/shareholder-
options have been converted into equity shares after
relations/policies
the vesting period. Consequent to the Company getting
listed on October 01, 2020, in terms of the Securities During the year, your directors declared and paid
and Exchange Board of India (Share Based Employee interim dividend of Rs. 51.10 per share in five tranches
Benefits) Regulations, 2014, the Company is required as per the details given below. The Directors are also
to obtain the approval of shareholders post listing and recommending a final dividend of Rs. 11.84 per equity
the same is being sought at the ensuing Annual General share of the face value of Rs. 10/- This will be paid
Meeting. subject to the same being approved by the shareholders
at the Annual General Meeting scheduled to be held on
4. RESERVES July 29, 2021.
The Company does not propose to transfer any amount
to the Reserves.
Details of Interim Dividend Paid:

Particulars Approval Date Payment Date Dividend per No. of Shares Dividend paid
equity share (in Million) (in Million)
(in Rs.)
First Interim Dividend 10.05.2020 19.05.2020 7.90 48.76 385.20
Second Interim Dividend 16.06.2020 19.06.2020 3.25 48.79 158.56
Third Interim Dividend 10.08.2020 13.08.2020 25.60 48.79 1248.94
Fourth Interim Dividend 11.11.2020 03.12.2020 6.75 48.79 329.31
Fifth Interim Dividend 11.02.2021 05.03.2021 7.60 48.79 370.81
6. IMPACT OF COVID-19
The outbreak of the COVID-19 pandemic has led to For the first time in the history of the organization
an unprecedented health crisis and has disrupted work-from-home was adopted after working through
economic activities and trade globally. In the light of numerous design-aspects of the new paradigm such
this, the financial year 2020-21 began in the middle as information security, availability of desktops and last
of an intense nationwide lockdown mandated due mile connectivity in the houses of employees. There
to the unprecedented crisis arising from the spread has been a widespread recognition from clients, on the
of Coronavirus. resilience exhibited by your company in these testing
times and the spirit of commitment that CAMS team
Your Company invoked Level 2 BCP (i.e., severe has displayed in getting things done in the face of
external situation leading to a scenario where only mounting odds.
the most essential services would be provided)
immediately, as the Phase I lockdown was announced. The Company has put in place measures to ensure
During the initial week, the company delivered all the the well-being of its employees by re-enforcing the
critical deliverables. All the electronic & digital modes importance of social distancing, safe working practices
of transaction continued to function with support and general personal hygiene.
from CAMS.
The situation continues to be the same till date in view
of the second wave of Covid 19 and the lockdowns at
different parts of the country.

7. STATE OF THE COMPANY’S AFFAIRS insurance companies. This company is serving leading
Your Company serves as the technology enabled service insurance companies which include Life, Health and
General insurance companies.
solutions partner to Mutual Funds and Private Equity
Funds. The Company is also carrying on the payment
services to its various mutual fund client and others. It CAMS Investor Services Private Limited (“CAMS KRA”)
has recently obtained the Registration certificate as a is registered with Securities and Exchange Board of
India as a KYC Registration Agency and is licensed
Central Record Keeping Agency (CRA) for the Pension
for implementation of SEBI’s vision of a harmonized
Fund Regulatory Authority of India. It also extends the
KYC process.
facility of call center operations to its various clients and
acting as Depository Participant for Investor.
Sterling Software Private Limited (“SSPL”) is the
The Company is registered with the Securities and software development arm for the group and brings
Exchange Board of India (‘SEBI’) to provide Registrar high specialization in building technology solutions for
& Transfer Agency services to Mutual Funds. It has financial services domain. Your Company is the major
been classified as a Qualified Registrar and Transfer client for Sterling. SSPL is pursuing various avenues to
Agent (QRTA) as it manages more than 2 million Folios. increase its external business.
As a regulated organization, the Company brings
highest standards to service delivery and adherence to CAMS Financial Information Services Private Limited
Regulations. (“CAMS FIS”) has been incorporated for carrying on
the business of “Account Aggregator” as a Non-Banking
Information on the operational and financial Financial Company. The Company has received the
performance, among others, is provided in the Certificate of Registration from Reserve Bank of India
Management Discussion and Analysis Report which (“RBI”) as a Non-Banking Finance Company – Account
forms part of the Annual Report and is in accordance Aggregator. The Company also has put in place the
with the SEBI (Listing Obligations & Disclosure required infrastructure and is in discussions with the
clients and Financial institutions for commencing the
Requirements) Regulations, 2015.
commercial activities.
8. CAPITAL EXPENDITURE AND LIQUIDITY
CAMS Payment Services Private Limited (“CAMS PAY”)
The operations of the company are not capital
has been incorporated for carrying on the business
intensive. It is not availing any kind of working capital of “Payment Aggregator”. An application to the
facility from the Banks or financial institutions. The Reserve Bank of India (“RBI”) has been submitted
capital expenditure is mainly towards upgradation of seeking certificate of Registration for carrying out
technology, improvements to the cyber security and the activities.
physical infrastructure required for its operations.
Foreign Subsidiary
As on March 31, 2021, the liquidity position of the
Sterling Software (Deutschland) GmbH (“SSGMBH”) is
Company was Rs. 17,124 lacs [excluding Fixed
a wholly owned subsidiary of Sterling Software Private
Deposit(s) (‘FD’) under Lien of Rs. 2,055 lacs for against
Limited incorporated in Germany and is engaged
issue of Guarantee by Banks] as against Rs. 22,038
in the business of providing IT Software services
lacs as on March 31, 2020. (excluding FDs under Lien
and consultancy. During the year, the Company has
of Rs. 86 lacs)
taken steps for winding down this subsidiary due to
inadequacy of revenue from German operations and
9. SUBSIDIARY COMPANIES resultant unviability.
As of March 31, 2021, your Company has 6 wholly
owned subsidiaries (including 1 step-down subsidiary). A report on the performance and financial position of the
subsidiaries whose financial statements are considered
Domestic Subsidiaries for preparation of Consolidated Financial Statements of
CAMS Insurance Repository Services Limited (“CAMS the Company as per the Act (in the prescribed format
REP”) is licensed by IRDAI to offer Insurance Repository i.e. “Form AOC-1”) is provided as Annexure.
services to Insurance policy holders. The Company
has developed outsourcing solutions for new business The policy for determining material subsidiaries
processing and policy holder services for leading private as approved by the Board may be accessed

02-35 37-111 112-230
on the Company’s website at the web-link: the wholly owned subsidiaries and investment of surplus
https://www.camsonline.com/about-cams/shareholder- funds in Mutual Funds and Bank deposits made in the
relations/policies regular course of the business have been included in
Notes of the Standalone Financial Statements.
None of the subsidiaries of the company fall under the
category of material subsidiary. 12. NUMBER OF BOARD MEETINGS HELD
The Board of Directors of the Company met nine times
In accordance with the third proviso to Section 136(1) of
during the Financial Year 2020-21. The meetings were
the Act, the Annual Report of the Company, containing
held on the following dates:
therein its Standalone and the Consolidated Financial
Statements are available on the Company’s website at • June 16, 2020
the web-link:
• August 10, 2020
relations/financial-information • August 27, 2020
• September 11, 2020
Any Shareholder who may be interested in obtaining
a copy of the aforesaid documents may write to the • September 24, 2020
Company Secretary. Further, the said documents will • September 29, 2020
be available for examination by the Shareholders of
the Company at its Registered Office during all working • November 11, 2020
days except Saturday, Sunday, Public Holidays and • February 11, 2021
National Holidays, between 10.00 AM to 12.00 Noon up
to the date of the ensuing Annual General Meeting. • March 20, 2021
10. RELATED PARTY TRANSACTIONS The details of the Board Meetings and attendance of
Directors are provided in the Corporate Governance
During the year under review, the contracts and
Report, which forms a part of this Annual Report.
arrangements with wholly owned subsidiaries have
been entered by the Company in its ordinary course
13. DIRECTORS AND KEY MANAGERIAL
of business and at arms’s length. These Related Party
Transactions (RPTs) were not material transactions PERSONNEL
under Regulation 23 of the Listing Regulations. There As of March 31, 2021, your Company had 7 Directors,
were no materially significant related party transactions which includes 3 Independent Directors and 2
with the Promoters, Directors and Key Managerial Non-Executive Nominee Directors, 1 Non-Independent
Personnel, which may have a potential conflict with Non-Executive Director and 1 Executive Director.
the interest of the Company at large. Given that the
Company does not have anything to report pursuant to Independent Directors
Section 134(3)(h) of the Act read with Rule 8(2) of the Mr. Dinesh Kumar Mehrotra is the Chairman &
Companies (Accounts) Rules, 2014 in Form No. AOC- Independent Director. Mr. Natarajan Srinivasan and
2, the same is not provided. Attention of the members Ms. Vijayalakshmi Rajaram Iyer are other Independent
is drawn to Note No. 31 to the Standalone Financial Directors in the Board.
Statements which sets out related party disclosure.
In accordance with the provisions of Section 149 of
The RPT Policy as approved by the Audit Committee the Companies Act, 2013, the Independent Directors
and the Board is available on the website of the have given a declaration that they meet the criteria of
Company: https://www.camsonline.com/about-cams/ independence as provided in the said Section and in
shareholder-relations/policies terms of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
11. LOANS, GUARANTEES AND
INVESTMENTS IN SECURITIES Non-Executive Nominee Directors
As on March 31, 2021, the Company has not given loans, Mr. Zubin Soli Dubash* and Mr. Narendra Ostawal are
made investments or provided guarantees or securities Non-Executive Nominee Directors of the Company
as covered under Section 186 of the Companies Act, and they are the Nominee Directors of Great Terrain
2013. Details of investments made by the company in Investments Limited, Promoter of the Company.

Non-Executive Non-Independent Directors briefing them on the operations of the Company,

Mr. Vedanthachari Srinivasa Rangan is a Non-Executive strategy, risks, new initiatives, etc.
Non-Independent Director of the company. Previously
he was the Nominee of HDFC Limited, one of the The details of the familiarization policy may be accessed
Shareholders of the company. on the Company’s corporate website:
Appointments/Re-appointment https://www.camsonline.com/about-cams/shareholder-
relations/policies
As per the provisions of the Companies Act, 2013,
Mr. Narendra Ostawal will retire as director at the
15. PERFORMANCE EVALUATION OF THE
ensuing Annual General Meeting and being eligible,
seeks reappointment. The Board recommends his
BOARD, COMMITTEES AND INDIVIDUAL
reappointment. DIRECTORS
The Companies Act, 2013 and the SEBI (Listing
Key Managerial Personnel Obligations and Disclosure Requirements) Regulations,
During the year under review, there was no change in 2015 stipulate evaluation of the performance of the
KMP of the Company. The following personnel continue Board, its Committees, Individual Directors and the
as KMPs as per the definition under Section 2(51) and Chairperson.
Section 203 of the Act:
The Company has formulated a Board Evaluation
1. Mr. Anuj Kumar, Whole-Time Director and Chief template for performance evaluation of the Independent
Executive Officer; Directors, the Board, its Committees and other individual
Directors which includes criteria for performance
2. Mr. M. Somasundaram, Chief Financial Officer; evaluation of the Non-Executive Directors and Executive
Directors.
3. Mr. G Manikandan, Company Secretary.
The template provides the criteria for assessing
14. FAMILIARIZATION PROGRAMME FOR performance of Directors and comprises of various key
THE INDEPENDENT DIRECTORS areas such as attendance at Board and Committee
Meetings, quality of contribution to Board discussions
The Company follows a well-structured induction
and decisions, strategic insights or inputs regarding
programme for orientation and training of Directors
future growth of the Company and its performance, ability
at the time of their joining to provide them with an
to challenge views in a constructive manner, knowledge
opportunity to familiarise themselves with the Company,
acquired regarding the Company’s business/ activities,
its management, its operations and the industry in which
understanding of industry and global trends, etc.
the Company operates.
The evaluation involves self-evaluation by the Board
At the time of appointing a Director, a formal letter
Member and subsequent assessment by the Board of
of appointment is given to him/her, which inter alia
Directors. A member of the Board will not participate in
explains the role, function, duties and responsibilities
the discussion of his/her evaluation.
expected of him/her as a Director of the Company.
The Director is also explained in detail the Compliance
The formal Board evaluation as mandated under the
required from him under the Companies Act, 2013, the
Companies Act and LODR has been carried out during
Listing Regulations and other relevant Regulations and
the year.
affirmation taken with respect to the same.
16. INTERNAL FINANCIAL CONTROLS AND
The induction programme includes:
RISK MANAGEMENT
1) For each Director, a one to one discussion with the The Company has in place adequate internal financial
Whole-Time Director to familiarize the former with controls commensurate with nature and size of the
the Company’s operations. business activity and with reference to the financial
statements. The controls comprise of policies and
2) An opportunity to interact with other business procedures for ensuring orderly and efficient conduct
heads and senior officials of the Company, who of the Company’s business, including adherence to its
also make presentations to the Board members policies, the safeguarding of its assets, the prevention

02-35 37-111 112-230
and detection of frauds and errors, the accuracy and The Auditor’s Report annexed to the financial
completeness of the accounting records and the statements for the year under review does not
timely preparation of reliable financial information. contain any qualification, reservation, adverse
The Company has also secured Service Organization remark or disclaimer.
Control Compliance SOC 1 in accordance with SSAE
16 and SOC 2 under AICPA. The Company is also ISO (ii) Secretarial Auditors
9001- 2008 and ISO 27001 certified. The Company has appointed B Chandra
& Associates, Company Secretaries (Firm
The internal financial control system is supplemented Registration No. P2017TN065700) to conduct
by audits conducted by the Internal Auditors. The Audit Secretarial Audit as per the requirements of
Committee of the Board of Directors reviews the reports Section 204(1) of the Act read with Rule 9 of the
of the Auditors at its periodical meetings. Navision, an Companies (Appointment and Remuneration of
Enterprise Resource Planning system from Microsoft, is Managerial Personnel) Rules, 2014.
implemented to assist with financial accounting.
The Secretarial Audit Report in Form MR-3 for the
The Company has in place a Risk Management Policy
financial year under review, as received from M/s.
for identification, assessment, measurement and
B. Chandra & Associates, Company Secretaries,
reporting of business risks faced by the Company.
and the management’s responses to the
The Risk Management Committee oversees the Risk
observations in the report is attached as Annexure
Management framework on a periodic basis. Risk
3 to the Board’s Report.
Control and Mitigation mechanisms are tested for their
effectiveness on regular intervals.
19. CORPORATE SOCIAL RESPONSIBILITY
17. AUDIT COMMITTEE As a socially responsible Company, CAMS is committed
to increasing its Corporate Social Responsibility
The Audit Committee comprises of:
(CSR) impact with an aim of playing a bigger role in
i. Mr. Natarajan Srinivasan - Chairman sustainable development of our society. In pursuit of
ii. Mr. Dinesh Kumar Mehrotra this objective, a Corporate Social Responsibility (CSR)
Committee had been formed by the Company which
iii. Mrs. Vijayalakshmi Rajaram Iyer oversees and facilitates deliberation on the social and
iv. Mr. Zubin Soli Dubash* environmental consequences of each of the decisions
During the year under review, all recommendations of made by the Board.
the Audit Committee were accepted by the Board.
The Company has in place a Corporate Social
Responsibility Policy pursuant to the provisions of
18. AUDITORS
Section 135 of the Companies Act, 2013 read with the
(i) Statutory Auditors Companies (Corporate Social Responsibility Policy)
M/s. Brahmayya & Co., Chartered Accountants Rules, 2014.
(ICAI Firm Registration No.000511S), were
appointed as Statutory Auditors of the Company The initiatives undertaken by your Company during
at the 30th Annual General Meeting (“AGM”) to the year have been detailed in CSR Section of this
hold office for a period of five years, commencing Annual Report. The Annual Report on CSR activities
from the conclusion of the 30th AGM held on in accordance with the Companies (Corporate Social
June 25, 2018 till the conclusion of the 35th AGM of Responsibility Policy) Rules, 2014, is set out herewith
the Company to be held in the year 2023. as Annexure to this Report.
The Statutory Auditors have given a confirmation 20. RISK MANAGEMENT POLICY
to the effect that they are eligible to continue with
The Company has in place a Risk Management Policy
their appointment and that they have not been
which includes the following:
disqualified in any manner from continuing as
Statutory Auditors. The remuneration payable to • The objective and scope
the Statutory Auditors shall be determined by the
• Components of sound risk management system
Board of Directors based on the recommendation
of the Audit Committee. • The risk management principles

• Risk governance structure and defining their roles (i) Conservation of energy – The Company’s
and responsibilities operations are not energy intensive. Adequate
measures have been taken to conserve energy
• Risk management framework defining risk, risk
wherever possible.
appetite/ risk tolerance, potential events, risk
statement, risk indicators, risk management, risk (ii) Technology absorption – The Company employs a
attributes and risk factors homegrown platform in its operations. Appropriate
technology is used in the platform and in the
The policy is available on the website of the Company at improvements, as is being carried out from time to time.
the link:
(iii) Foreign exchange earnings and outgo – The
information on foreign exchange earnings and
outgo is furnished in Note No. 30 of the Standalone
relations/policies
Financial Statements.
21. NOMINATION AND REMUNERATION
24. OTHER DISCLOSURES
POLICY
During the year under review, there has been no Material
In accordance to Section 178 of the Companies Act,
change in the nature of business of the Company.
2013 and the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 the Company has
There are no significant or material changes and
formulated a Nomination and Remuneration Policy.
commitments affecting the financial position of the
Company which has occurred between the end of the
The policy is available on the website of the Company at
financial year of the Company i.e. March 31, 2021 and
the link:
the date of this Board’s Report.
No disclosure is required in respect of the details relating
relations/policies
to the deposits under Chapter V of the Companies Act,
2013 as the Company has not accepted any deposits.
22. WHISTLE BLOWER POLICY
In accordance with Section 177(9) of the Companies No significant or material orders were passed by the
Act, 2013 read with Rule 7 of the Companies (Meetings regulators or courts or tribunals impacting the going
of Board and its Powers) Rules, 2014 and Regulation concern status and Company’s operations in future.
22 of the SEBI Listing Regulations, the Company has
adopted a Whistle Blower Policy which provides for The Company is not required to maintain cost records
adequate safeguards against victimization of persons under Section 148 of the Companies Act, 2013.
who use Vigil Mechanism and make provision for direct
access to the Chairperson of the Audit Committee. 25. CORPORATE GOVERNANCE
Your Company is committed to maintain the best
The policy is available on the website of the Company at standards of Corporate Governance and has always
the link: tried to build the maximum trust with shareholders,
employees, customers, suppliers and other
h t t p s : / / w w w. c a m s o n l i n e . c o m / D o w n l o a d s /
stakeholders.
Whistleblower%20Policy.pdf
A Report on Corporate Governance along with a
23. CONSERVATION OF ENERGY, Certificate from the Secretarial Auditors of the Company
TECHNOLOGY ABSORPTION, AND regarding compliance with the conditions of Corporate
FOREIGN EXCHANGE EARNINGS AND Governance as stipulated under Schedule V of the SEBI
OUTGO (Listing Obligations and Disclosure Requirements)
The details in respect of conservation of energy, Regulations, 2015 forms part of the Annual Report.
technology absorption and foreign exchange earnings
and outgo, as required under sub-Section (3)(m) of 26. BUSINESS RESPONSIBILITY REPORT
Section 134 of the Companies Act, 2013 read with Rule Pursuant to Regulations 34 of the Listing Regulations,
(8)(3) of the Companies (Accounts) Rules, 2014 are Business Responsibility Report for the year is presented
given as under: in a separate Section forming part of the Annual Report.

02-35 37-111 112-230
27. ANNUAL RETURN 30. LISTING WITH STOCK EXCHANGES

As per the provisions of Section 92(3) of the Act read The Company was listed in BSE Limited with effect
with Rule 12 of the Companies (Management and from October 01, 2020 and was listed in NSE with effect
Administration) Rules, 2014 as amended from time to from May 07, 2021. The Company has paid the Annual
time, the Annual Return of the Company has been placed Listing Fees as applicable to both these Exchanges.
on the website of the Company and can be accessed:
31. UNPAID DIVIDEND AND INVESTOR
https://www.camsonline.com/about-cams/shareholder- EDUCATION AND PROTECTION FUND
relations/annual-return-form (IEPF)
The Company has displayed in its website the details
28. DIRECTOR’S RESPONSIBILITY of unpaid dividend in accordance with Section 124(2) of
STATEMENT the Companies Act, 2013. During the year under review,
the Company has not transferred any amount to the
In accordance with Section 134(5) of the Companies
IEPF as no amounts were due to be transferred.
Act, 2013, your Directors state that:
a) in the preparation of the annual accounts for 32. PREVENTION OF SEXUAL HARASSMENT
the year ended March 31, 2021, the applicable OF WOMEN AT WORKPLACE
accounting standards have been followed and The Company has in place an appropriate Policy
there are no material deviations from the same; on Prevention of Sexual Harassment of Women
at Workplace in accordance with the provisions of
b) they have selected such accounting policies and the Sexual Harassment of Women at Workplace
applied them consistently and made judgments (Prevention, Prohibition and Redressal) Act, 2013, to
and estimates that are reasonable and prudent so prevent sexual harassment of its employees.
as to give a true and fair view of the state of affairs
of the Company as at March 31, 2021 and of the The Policy has been communicated internally to all
profit of the Company for year ended on that date; employees and is made available on the Company’s
Intranet Portal.
c) they have taken proper and sufficient care for the
maintenance of adequate accounting records in During the year, no cases were reported. There were no
accordance with the provisions of the Companies open cases pending as on March 31, 2021.
Act, 2013 for safeguarding the assets of the
Company and for preventing and detecting fraud 33. EMPLOYEE STOCK OPTIONS
and other irregularities; The Company has an Employee Stock Option Plan for
the Employees of the Company and its Subsidiaries
d) they have prepared the annual accounts on a
named as “CAMS Employee Stock Option Plan,
going concern basis;
2019”. The Plan is in compliance with the SEBI (Share
e) they have laid down Internal Financial Controls to Based Employee Benefits) Regulations 2014 and is
be followed by the Company and that such Internal administered by the Nomination and Remuneration
Financial Controls are adequate and are operating Committee of the Board constituted by the Company
effectively; and pursuant to the provision of Section 178 of the
Companies Act, 2013.
f) the Directors have devised proper systems
The details of the Employee Stock Options Plan forming
to ensure compliance with the provisions of
part of the Notes to accounts of the Financial Statements
all applicable laws and that such systems are
in this Annual Report and available on our website www.
adequate and operating effectively.
camsonline.com
29. SIGNIFICANT AND MATERIAL ORDERS 34. PARTICULARS OF EMPLOYEES AND

PASSED BY THE REGULATORS OR RELATED DISCLOSURES
COURTS The information required pursuant to Section 197(12)
During the year under review, no significant / material of the Companies Act, 2013 read with Rule 5(1)
orders were passed by the regulators or the Courts or of Companies (Appointment and Remuneration of
the Tribunals impacting the going concern status and Managerial Personnel) Rules, 2014 is also enclosed as
the Company’s operations in future. Annexure 1 to this Report.

The information pursuant to Section 197(12) of the the company is having business relationship and look
Companies Act, 2013 read with Rule 5(2) & 5(3) of forward to their continued support.
the Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 pertaining to the Your Directors would also like to thank Securities and
top ten employees in terms of remuneration drawn Exchange Board of India, Reserve Bank of India,
and their other also form part of this report. However, Insurance Regulatory and Development Authority
the report and the accounts are being sent to the of India, Unique Identification Authority of India and
members excluding the aforesaid annexure. In terms of Pension Fund Regulatory and Development Authority
Section 136 of the Act, the said annexure is open for for their guidance and support during the year and
inspection at the Registered Office of the Company. Any look forward for their support in future. Your Directors
shareholder interested in obtaining a copy of the same also wish to thank the shareholders, Stock Exchanges
may write to the Company Secretary. and Depositories for their continued support and
cooperation.
35. AWARDS & RECOGNITION
Your Directors also wish to place on record their
During the Year, the Company was awarded as the Star
appreciation of the concerted efforts by all the employees
of FinTech in Tamil Nadu (highest category recognition)
in extending full support in implementing various plans
by Government of Tamil Nadu recognizing the difference
for the growth of your Company.
it has made over the years to Financial Services enabled
by Technology. The Company was incorporated and On behalf of the Board of Directors
has its operations based from Chennai, Tamil Nadu.
Sd/-
36. SECRETARIAL STANDARDS
During the year 2020-2021, the Company has complied
Place: Chennai Chairman
with applicable Secretarial Standards issued by the
Institute of the Company Secretaries of India. Date: May 25, 2021 DIN: 00142711
* Mr. Zubin Soli Dubash resigned from the Board due to his time
37. ACKNOWLEDGEMENTS
constraints with effect from June 21, 2021 and Mr. Sandeep Kagzi has
Your Directors wish to thank the Asset Management been appointed as an additional Director. The various committees
Companies, Private Equity Funds, Banks, NBFCs, have also been reconstituted post the above. The Details contained
insurance companies and the Bankers with whom in the Boards Report are as on May 25, 2021.

02-35 37-111 112-230
ANNEXURE 1
PARTICULARS OF REMUNERATION
The information required under Section 197(12) of the 2. The Independent Directors were appointed to the Board
Companies Act, 2013 read with rule 5(1) of the (Companies on December 17, 2019. Sitting fee for Independent
Appointment and Remuneration of Managerial Personnel) Directors is paid based on the number of Board and
Rules, 2014, for the financial year ended March 31, 2021 are Committee meetings attended. Chairman is entitled for a
minimum payment of Rs. 21 lacs and other Independent
given below:
Directors are entitled for a minimum payment of
Rs. 18 lacs. The differential amount between the sitting fee
A. The ratio of the remuneration of each director to
and the above referred minimum is paid as commission
the median remuneration of the employees of the in accordance with the approval of shareholders at the
Company for the financial year: EGM held on September 01, 2020.
Non-Executive Directors Ratio to median 3. There has been no regular increment during the year
remuneration* due to the Pandemic related conditions. The difference
Mr. Dinesh Kumar Mehrotra 8.13 in remuneration is due to the variation in the performance
Mr. Natarajan Srinivasan 6.97 incentive paid during the year.
Mrs. Vijayalakshmi Rajaram Iyer 6.97

C. Percentage increase in median remuneration of
Mr. V S Rangan 5.23 employees in the financial year 20-21
Mr. Narendra Ostawal (Note 1) NA

Not applicable as there have been no regular increment
Mr. Zubin Soli Dubash (Note 1) NA
due to the pandemic related conditions.
Executive Directors Ratio to median D. Number of permanent employees on the rolls of the
remuneration Company
Mr. Anuj Kumar 131.81

The Number of permanent employees as on March 31,
*Median remuneration computation is based on a total 2021 was 3894.
employee head count of 3894.
E. Average percentile increase already made
B. The percentage increase in remuneration of each in the salaries of employees other than the
Director, Chief Executive Officer, Chief Financial managerial personnel in the last financial year
Officer, Company Secretary in the financial year: and its comparison with the percentile increase
in the managerial remuneration and justification
Directors, Chief Executive Officer, % increase in
Chief Financial Officer and Company remuneration thereof and point out if there are any exceptional
Secretary in the financial circumstances for increase in the managerial
year remuneration.
Mr. Dinesh Kumar Mehrotra Not applicable
(Note 2) During the year, there has been no regular increments
Mr. Natarajan Srinivasan
due to the Pandemic related conditions though there
Mrs. Vijayalakshmi Rajaram Iyer has been specific incentives that have been paid
Mr. V S Rangan considering the hardships due to lock down. The change
Mr. Narendra Ostawal (Note 1) Not applicable in the remunerations of KMPs is due to the variation in
Mr. Zubin Soli Dubash (Note 1) Not applicable the performance incentive/onetime adhoc payment.
Mr. Anuj Kumar 5.82% (Note 3)
F. Affirmation that the remuneration is as per the
Mr. M Somasundaram 3.60% (Note 3)
remuneration policy of the Company:
Mr. G Manikandan 39.25% (Note 3)
The Company affirms that the remuneration paid are as
Notes: per the Remuneration Policy of the Company.
1. Mr. Narendra Ostawal and Mr. Zubin Soli Dubash,
nominees of the Promoters have abstained from receiving
commission / sitting fees from the Company.

G. Statement containing particulars of employees Office of the Company. Any shareholder interested in
as required under Section 197(12) of the Act obtaining a copy of the same may write to the Company
read with Rule 5(2) of the Companies (Appointment Secretary.
and Remuneration of Managerial Personnel)
Rules, 2014. On behalf of the Board of Directors
This statement is provided in a separate annexure

forming part of this report. This report and the accounts Sd/-
are being sent to the members excluding the aforesaid Dinesh Kumar Mehrotra
annexure. In terms of Section 136 of the Act, the said Chairman
annexure is open for inspection at the Registered DIN: 00142711

02-35 37-111 112-230
FORM AOC-1 ANNEXURE 2

Statement Containing Salient Features of The Financial Statements of
The Subsidiaries/Associate Companies/Joint Ventures
[Pursuant to first proviso to sub-section (3) of Section 129 of the Companies Act, 2013
read with Rule 5 of the Companies (Accounts) Rules, 2014]
PART A
Summary of Financial Information of Subsidiary Companies
Rs. in Lakhs
S. Name of the Relationship Share Reserves Total Total Invest- Turnover Profit Total Tax Profit Total Other Total % of
No. Entity Capital and Assets Liabilities ments before Expenses after Compre- Compre- Share-
Surplus Taxation Taxation hensive hensive holding
Income income for
(net of tax) the period
1 CAMS Investor Subsidiary 74.50 4,242.64 4,689.65 372.51 3,874.14 1,892.99 991.11 218.27 772.84 -1.84 771.00 100%
Services Private
Limited
2 CAMS Financial Subsidiary 450.00 -17.94 460.12 28.06 - - -46.66 5.58 -52.24 - -52.24 100%
Information
Services Private
Limited
3 Sterling Software Subsidiary 50.95 2,432.52 3,734.52 1,251.05 2,088.14 6,121.78 2,091.63 665.17 1,426.46 7.53 1,433.99 100%
Private Limited
4 CAMS Insurance Subsidiary 454.17 3,659.68 4,943.40 829.55 4,051.29 1,487.15 258.34 39.13 219.20 5.25 224.45 100%
Repository
Services Limited
5 CAMS Payment Subsidiary 2,500.00 -1.89 2,519.32 21.21 - - 4.69 6.58 -1.89 - -1.89 100%
Services Private
Limited
6 Sterling Software Step Down 747.61 -705.02 66.98 24.39 - 41.20 -174.75 - -174.75 -3.65 -178.40 100%
(Deutschland) Subsidiary
GmbH
Notes:
1. Name of subsidiaries yet to commence operations: CAMS Payment Services Private Limited.
2. Names of subsidiaries which have been liquidated or sold during the year: None
3. Reporting period for all subsidiaries is April 01, 2020 to March 31, 2021.
4. Sterling Software (Deutschland) GMBH (“SSGMBH”) is a wholly owned subsidiary of Sterling Software Private Limited incorporated
in Germany and is engaged in the business of providing IT Software services and consultancy. During the FY 2019-20, the Company
proposed to formulate an exit plan to wind down this German subsidiary and the same is in process.
PART B - Associates and Joint Ventures – NOT APPLICABLE
On behalf of the Board of Directors
Sd/-
Place: Chennai Chairman
Date: May 25, 2021 DIN: 00142711

FORM NO. MR-3 ANNEXURE 3

SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2021
Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To To
The Members, The Members,
Computer Age Management Services Limited Computer Age Management Services Limited
New No.10, Old No.178, New No.10, Old No.178,
M.G.R.Salai, Nungambakkam, M.G.R.Salai, Nungambakkam
Chennai 600034 Chennai 600034
Dear Sir/Madam, Dear Sir/Madam,
Our report of even date is to be read along with this letter. We, B Chandra & Associates, Practising Company
Secretaries have conducted the secretarial audit of the
1. Maintenance of secretarial record is the responsibility compliance of applicable statutory provisions and the
of the management of the company. Our responsibility adherence to good corporate practices by COMPUTER
is to express an opinion on these secretarial records
AGE MANAGEMENT SERVICES LIMITED bearing
based on our audit.
CIN L65910TN1988PLC015757 (hereinafter called the
2. We have followed the audit practices and processes company). Secretarial Audit was conducted in a manner
as were appropriate, also taking into account the that provided me a reasonable basis for evaluating the
peculiar circumstances due to Covid Pandemic and the corporate conducts/statutory compliances and expressing
lockdowns and curtailment both at the beginning of the our opinion thereon.
audit commencement and the subsequent unforeseen
work from home circumstances due to spike in covid
Based on our verification of the Company’s books, papers,
cases during second wave at the time of closure
minute books, forms and returns filed and other records
of audit, to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. maintained by the Company and also the information
The verification was done on test basis to ensure provided by the Company, its officers, agents and authorised
that correct facts are reflected in secretarial records. I representatives during the conduct of secretarial audit, we
believe that the processes and practices, we followed hereby report that in our opinion, the Company has, during the
provide a reasonable basis for our opinion. audit period covering the financial year ended on March 31,
2021, complied with the statutory provisions listed hereunder
3. We have not verified the correctness and
and also that the Company has proper Board-processes and
appropriateness of financial records and Books of
Accounts of the company. compliance-mechanism in place to the extent, in the manner
and subject to the reporting made hereinafter:
4. Where ever required, we have obtained the
Management representation about the compliance of We have examined the books, papers, minute books,
laws, rules and regulations and happening of events etc. forms and returns filed and other records maintained by the
5. The compliance of the provisions of Corporate and Company for the financial year ended on March 31, 2021,
other applicable laws, rules, regulations, standards is according to the provisions of:
the responsibility of management. Our examination was
limited to the verification of procedures on test basis. i. The Companies Act, 2013 (the Act) and the Rules made
there under;
6. The Secretarial Audit report is neither an assurance as
to the future viability of the company nor of the efficacy ii. The Securities Contracts (Regulation) Act, 1956
or effectiveness with which the management has (‘SCRA’) and the Rules made there under;
conducted the affairs of the company.
iii. SEBI Registrars to an Issue and Share Transfer Agent
Sd/-
Regulations, 1993 and amendments thereof
B Chandra
Practising Company Secretary iv. National Securities Depository Limited - Bye Laws
Place : Chennai ACS No.: 20879 & Rules (Depository Participant and RTA) and
Date : May 25, 2021 CP: 7859 amendments thereof

02-35 37-111 112-230
v. Central Depository Services (India) Limited - Bye the Board of Directors of the Company and a confirmation
Laws & Rules (Depository Participant and RTA) and given by the Management about the Compliances of other
amendments thereof applicable laws, we report that the Company has complied
with the provisions of all applicable statutes other than those
vi. The Prevention of Money Laundering Act 2002, PMLA mentioned above and the Rules made there under to the
Rules & amendments thereof extent it is applicable to them:
vii. SEBI (Intermediaries) Regulations 2008 & amendments 1. AMFI Guidelines and Norms for Intermediaries
thereof
2. AMFI Registered Mutual Fund Advisors (ARMFA)
viii. SEBI (KYC Registration Agency) Regulations 2011 and
amendments thereof 3. Tamil Nadu Municipal Laws (Second Amendment) Act,
1998 The Aadhaar (Targeted Delivery of Financial and
ix. Foreign Exchange Management Act and the Other Subsidies, Benefits and Services) Act, 2016 &
Regulations, to the extent applicable;
4. The Contract Labour (Regulation and Abolition) Act,
x. The Securities and Exchange Board of India (Issue of
1970 and The Tamil Nadu Contract Labour [Regulation
Capital and Disclosure Requirements) Regulations,
& Abolition] Rules, 1975
2018
5. The Employees Provident Funds and Miscellaneous
xi. The Securities and Exchange Board of India
Provisions Act, 1952 & The Employees Deposit-Linked
(Substantial Acquisition of Shares and Takeovers)
Insurance Scheme, 1976 & The Employees Pension
Regulations, 2011;
Scheme, 1995 and The Employees Provident Fund
Scheme, 1952
xii. The Securities and Exchange Board of India (Prohibition
of Insider Trading) Regulations, 1992 and The Securities
6. Pension Fund Regulatory and Development authority –
and Exchange Board of India (Prohibition of Insider
Rules & Guidelines (For New Pension System – POP/
Trading) Regulations 2015;
POP-SP Operations)
xiii. The Securities and Exchange Board of India
(Listing obligations and Disclosure requirements) 7. The Employees State Insurance Act, 1948 & The
Regulations 2015; Employees State Insurance (General) Regulations,
1950 & The Employees State Insurance Rules, 1950
xiv. Securities and Exchange Board of India (Share Based
Employee Benefits) Regulations, 2014 8. The Environment (Protection) Act, 1986
We are informed that the Company, during the year, was 9. The Equal Remuneration Act, 1976 and The Equal
not required to comply with the following Regulations and Remuneration Rules, 1976
consequently not required to maintain any books, papers,
minute books or other records or file any forms / returns 10. The Information Technology Act 2000 and The
under: Information Technology (Reasonable Security Practices
and Procedures and Sensitive Personal Data or
a. The Securities and Exchange Board of India (Buy back Information) Rules, 2011
of Securities) Regulations, 2018;
11. The Information Technology Act, 2000
b. Securities and Exchange Board of India (Issue and
Listing of Non- Convertible and Redeemable Preference 12. The Maternity Benefit Act, 1961 & The Tamil Nadu
Shares) Regulations, 2013 Maternity Benefit Rules, 1967
c. The Securities and Exchange Board of India (Issue and 13. The Minimum Wages Act, 1948 and The Tamil Nadu
Listing of Debt securities) Regulations 2018 Minimum Wages Rules, 1958
Based on the study of the systems and processes in place and 14. The Payment of Gratuity Act,1972 & The Tamil Nadu
a review of the reports of the Compliance officer placed before Payment of Gratuity Rules,1973

15. The Sexual Harassment of Women at Workplace c. Based on the minutes made available to us, we report
(Prevention, Prohibition and Redressal) Act, 2013 that Majority decision is carried through and that there
were no dissenting votes from any Board member
16. The Tamil Nadu Shops and Establishments Act, 1947 & that was required to be captured and recorded as part
The Tamil Nadu Shops and Establishments Rules, 1948 of the minutes.
We have also examined compliance with the applicable We further report that there are adequate systems and
clauses of the following: processes in the Company commensurate with the size and
operations of the Company to monitor, report deviations to
(i) Secretarial Standards issued by The Institute of Company the Board, take corrective actions and ensure compliance
Secretaries of India. with applicable laws, Rules, Regulations and guidelines.
During the period under review the Company has complied We further report :
with the provisions of the Act, Rules, Regulations, Guidelines,
a) that during the year under review, effective from
Standards, etc. mentioned above
October 01, 2020, the equity shares of Computer Age
Management Services Ltd (Scrip Code: 543232) were
a. The Board of Directors of the Company is duly
listed and admitted to dealings on the BSE Limited in
constituted with proper balance of Executive Directors,
the list of ‘B’ Group Securities.
Non-Executive Directors and Independent Directors.
There were no changes in the composition of the KMP/ b) the Company has allotted ESOP 26800 equity shares
Board of Directors that took place during the period of Rs.10/- each on 16.6.2020 and 4238 equity shares
under review. of Rs.10/- each on 25.1.2021, to the employees of
the company pursuant to exercise of options under its
b. Adequate notice is given to all the directors to schedule Employees Stock Option Scheme 2019.
the Board Meetings, agenda and detailed notes on
agenda were sent at least seven days in advance, Sd/-
and a system exists for seeking and obtaining further B Chandra
information and clarifications on the agenda items Partner, B Chandra & associates
before the meeting and for meaningful participation at ACS No.: 20879
the meeting. Place: Chennai CP No.: 7859
Date: May 25, 2021 UDIN: A020879C000365674

02-35 37-111 112-230
ANNEXURE 4
THE ANNUAL REPORT ON CSR ACTIVITIES OF THE COMPANY
FOR THE FINANCIAL YEAR 2020-21
1. Brief outline on CSR Policy of the Company: -
The key purpose of this policy is to:
(a) To define what Corporate Social Responsibility (CSR) would mean to CAMS and determine CSR spend as stipulated
in the Companies Act, 2013 and the Rules there under
(b) To identify and formulate the broad areas the Company shall pursue towards fulfilling its CSR obligations
(c) To specify the modalities of execution of the projects and the implementation schedules
(d) To lay down the monitoring and reporting mechanism for the CSR projects of the Company
(e) Elucidate criteria for partners/implementation agencies
(f) Explain the manner in which the surpluses from CSR projects will be treated
The key focus area of the company covers- Education and Vocational Training, Healthcare, Care for disabled and
Destitute, Social Welfare Projects, Investor protection, Awareness and Education on Best Practices, Sports and Disaster
relief or Disaster management.
2. Composition of the CSR Committee:

Sl. Name of Director Designation / Nature of Directorship Number of meetings Number of meetings of
No. of CSR Committee CSR Committee attended
held during the year during the year
1 Mr. D K Mehrotra Chairman/ Independent Director 2 2
2 Mr. Zubin Dubash Member/ Non-Executive Director 2 1
3 Ms. Vijayalakshmi Rajaram Iyer Member/ Independent Director 2 2
4 Mr. Anuj Kumar Member/ Whole time Director 2 2
3. The details of Composition of CSR committee, CSR Policy and CSR projects as approved by the board are disclosed on
the website of the company at www.camsonline.com
4. Sub-rule (3) of rule 8 which deals with Impact assessment of CSR projects is not applicable to the company of the
Companies (Corporate Social responsibility Policy) Rules, 2014.
5. Details of the amount available for set off in pursuance of sub-Rule (3) of Rule 7 of the Companies (Corporate Social
responsibility Policy) Rules, 2014 and amount required for set off for the financial year, if any- Not Applicable
6. Average net profit of the company as per Section 135(5). – Rs. 2,10,47,02,337/-
7. (a) Two percent of average net profit of the company as per Section 135(5) – Rs. 4,20,94,047/-
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial years. - Not Applicable
(c) Amount required to be set off for the financial year, if any- Not Applicable
(d) Total CSR obligation for the financial year (7a+7b+7c). - Rs. 4,20,94,047/-

8. (a) CSR amount unspent for the financial year:- NIL
(b) Details of CSR amount spent against ongoing projects for the financial year: - NIL
(c) Details of CSR amount spent against other than ongoing projects for the financial year: Rs. 4,21,23,311/-.
Details of the project is as per Enclosure.
(d) Amount spent in Administrative Overheads: Rs. 13,129/-
(e) Amount spent on Impact Assessment, if applicable: NIL
(f) Total amount spent for the Financial Year (8b+8c+8d+8e) = Rs. 421,36,440/-
(g) Excess amount for set off, if any: NIL
9. a) Details of Unspent CSR amount for the preceding three financial years:- NIL
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s): - NIL
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through
CSR spent in the financial year- Not Applicable
11. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per Section 135(5).-
Not Applicable
Sd/- Sd/- Sd/-

Mr. Anuj Kumar Mr. D K Mehrotra Mr. Zubin Dubash
Chief Executive Officer Chairman CSR Committee Member

02-35 37-111 112-230
ENCLOSURE TO THE ANNUAL REPORT ON CSR ACTIVITIES
SL. Name of the Project Item from the list Local Location of the project Amount Mode of Mode of Implementation -
No. of activities in area spent for implementation Through Implementing Agency
Schedule VII to the (Yes/ the project Direct
State District Name CSR
Act. No) (in Rs.) (Yes/No)
Registration
number
1 Providing healthcare promoting health Yes Tamil Nadu Chennai 4,487,500 No Medical CSR00002623
facility for the rural care including Research
people preventive health Foundation
care
2 Providing Palliative Yes Tamil Nadu Chennai 1,572,000 No RMD Pain CSR00000406
and Geriatric Care to & Palliative
terminally ill patient Care Trust
3 Providing medical Yes Tamil Nadu Chennai 1,320,000 No Dean CSR00000401
treatment for those Foundation
suffering from life-
limiting illness
4 Providing healthcare to Yes Tamil Nadu Chennai 1,125,000 No DIRECT CSR00001120
Diabetic patients
5 Indian Cancer Society Multi 49,950 No Indian Cancer NA
locations Society
6 Providing healthcare Yes Tamil Nadu Chennai 1,500,000 No Soulfree CSR00005305.
facility
7 Infrastructure Yes Tamil Nadu Chennai 1,200,000 No The Voluntary CSR00003444
development for Health
hospital patients Services
8 Infrastructure No Tamil Nadu Tirunelveli 970,480 No Amar Seva CSR00000229
development for Sangam
hospital patients
9 Providing Education promoting education, No Tamil 2,182,820 No eVidyaloka CSR00000867
for the Economically including special Nadu, Uttar
weaker students education and Pradesh
employment
10 Providing Education Yes Tamil Nadu Chennai 1,224,000 No Sevalaya CSR00000863
enhancing vocation
for the Economically
skills especially
weaker students
among children,
11 Providing FSH to the women, elderly Yes Tamil Nadu Chennai 1,756,000 No AIM for Seva CSR00003273
rural children and and the differently
support for education abled and livelihood
enhancement
12 Providing Education projects Yes Tamil Nadu Chennai 2,750,000 No Eureka CSR00000876
for the Economically Education
weaker students Foundation
13 Infrastructure No Tamil Nadu Thiruvahindrapuram 2,350,000 No Sri Lakshmi CSR00008372
development for Hayagriva
school and providing Trust
education
14 Education and training Yes Tamil Nadu Chennai 750,000 No PTP Trust CSR00004539
for HIV positive childre
15 Providing Education Yes Tamil Nadu Chennai 250,288 No CRY CSR00000805
weaker students
16 Providing Education No Maharashtra Mumbai 1,309,000 No Bright Kids CSR00003492.
for the Economically foundation
weaker students
17 Providing Education Yes Tamil Nadu Chennai 1,400,000 No Aid India CSR00000027
weaker students
18 Providing Education Yes Tamil Nadu Chennai 570,000 No Vanavil Trust CSR00002438
weaker students
19 Providing Education Yes Tamil Nadu Chennai 575,000 No Vidhya Vidhai CSR00001461
weaker students

SL. Name of the Project Item from the list Local Location of the project Amount Mode of Mode of Implementation -
No. of activities in area spent for implementation Through Implementing Agency
Schedule VII to the (Yes/ the project Direct
State District Name CSR
Act. No) (in Rs.) (Yes/No)
Registration
number
20 Providing Education for Yes Tamil Nadu Chennai 630,000 No Anandam CSR00000963
the Physically/Mentally
challenged students
21 Providing Education for No Tamil Nadu Trichy 1,015,000 No Youth for Jobs CSR00002046
the Physically/Mentally
challenged students
22 Providing Education for Yes Tamil Nadu Chennai 3,318,000 No Arvind CSR00003559
the Physically/Mentally Foundation
challenged students
23 Providing Education for Yes Tamil Nadu Chennai 938,000 No Sri CSR00001030
the Physically/Mentally Arunodayam
challenged students
24 Providing Personal No Maharashtra Mumbai 1,125,000 No Arpan CSR00000451
safety Education
25 Creation of Investor No Multi 1,906,000 Yes
Protection & Consumer locations
Education movies
26 Providing food for promoting health Yes Tamil Nadu Chennai 2,030,000 No KVN CSR00004268
migratory workers care/ Disaster relief Foundation
affected by Covid Lock
down
27 Providing Groceries Yes Tamil Nadu Chennai 1,500,000 No AID India CSR00000027
and essentials supply
for families affected by
Covid 19 lockdown
28 Providing Groceries Yes Tamil Nadu Chennai 500,000 No Eureka CSR00000876
and essentials supply Education
for families affected by Foundation
Covid 19 lockdown
29 Sanitizers, Gloves and No Maharashtra Mumbai 250,000 No Karunya Trust CSR00005095
Face shield for front Relief fund
line service providers
for Covid Relief at
Mumbai
30 Direct Food supplies Yes Tamil Nadu Chennai 677,370 Yes
for People affected by
Covid 19 at Chennai
31 Monitoring and 891,903 Yes
Evaluation Expenses
32 Administrative 13,129 Yes
Expenses
Total 42,136,440

02-35 37-111 112-230
ANNEXURE 5
SECRETARIAL COMPLIANCE REPORT
OF COMPUTER AGE MANAGEMENT SERVICES LIMITED FOR THE YEAR ENDED 31.03.2021
I, B Chandra have examined: The Company, during the year, was not required to comply
with the following Regulations and consequently not required
(a) all the documents and records made available to to maintain any books, papers, minute books or other records
us and explanation provided by M/s. Computer Age or file any forms/ returns under:
Management Services Limited (“the listed entity”),
(a) Securities and Exchange Board of India (Buyback of
(b) the filings/ submissions made by the listed entity to the Securities) Regulations, 2018;
stock exchanges,
(b) Securities and Exchange Board of India (Issue and
(c) website of the listed entity, Listing of Debt Securities) Regulations, 2008;
(d) any other document/ filing, as may be relevant, which (c) Securities and Exchange Board of India (Issue and
has been relied upon to make this certification, Listing of Non-Convertible and Redeemable Preference
Shares) Regulations,2013; and circulars/ guidelines
for the year ended 31.03.2021 in respect of compliance with issued thereunder:
the provisions of :
and based on the above examination, I/We hereby
(a) the Securities and Exchange Board of India Act, 1992 report that, during the Review Period:
(“SEBI Act”) and the Regulations, circulars, guidelines
issued thereunder; and (a) The listed entity has complied with the provisions of
the above Regulations and circulars/ guidelines issued
(b) the Securities Contracts (Regulation) Act, 1956 thereunder
(“SCRA”), Rules made thereunder and the Regulations,
circulars, guidelines issued thereunder by the Securities As per Regulation 10 (c) of SEBI (Share Based
and Exchange Board of India (“SEBI”); Employee Benefit Regulations) 2014, as and when an
exercise is made, the company notifies the concerned
The specific Regulations, whose provisions and the circulars/ stock exchange as per the statement as specified by
guidelines issued thereunder, have been examined, include:- SEBI in this regard. Though the exercise of ESOP and
allotment of the shares to employees were made during
(a) Securities and Exchange Board of India (Listing January 2021, intimation to Stock Exchange under the
Obligations and Disclosure Requirements) Regulations, above Regulation was made during February 2021 only
2015; after the listing of the said shares were completed.
(b) Securities and Exchange Board of India (Substantial (b) The listed entity has maintained proper records under
Acquisition of Shares and Takeovers) Regulations, the provisions of the above Regulations and circulars/
2011; guidelines issued thereunder insofar as it appears from
my/our examination of those records.
(c) Securities and Exchange Board of India (Share Based
Employee Benefits) Regulations, 2014; (c) The following are the details of actions taken against
the listed entity/ its promoters/ directors/ material
(d) Securities and Exchange Board of India (Prohibition of subsidiaries either by SEBI or by Stock Exchanges
Insider Trading) Regulations, 2015; (including under the Standard Operating Procedures
issued by SEBI through various circulars) under the
(e) Securities and Exchange Board of India (Issue of Capital aforesaid Acts/ Regulations and circulars/ guidelines
and Disclosure Requirements) Regulations, 2018 issued thereunder:

Sr. Action taken by Details of violation Details of action taken Observations/ remarks of the Practicing
No. E.g. fines, warning letter, Company Secretary, if any
debarment, etc.
NIL
(d) The listed entity has taken the following actions to comply with the observations made in previous reports: Not applicable.
Sr. Observations of the Observations made in the Actions taken by the Comments of the
No. Practicing Company secretarial compliance report for listed entity, if any Practicing Company
Secretary in the previous the year ended…(The years are Secretary on the actions
reports to be mentioned) taken by the listed entity
Sd/-
B Chandra
Partner, B Chandra & associates
ACS No.: 20879
Place: Chennai C P No.: 7859
Date: May 25, 2021 UDIN: A020879C000365751

02-35 37-111 112-230
Corporate Governance Report

COMPANY’S CORPORATE GOVERNANCE CODE FOR PRACTICES AND PROCEDURES
PHILOSOPHY FOR FAIR DISCLOSURE OF UNPUBLISHED
The Company is committed to adopt the best Corporate PRICE SENSITIVE INFORMATION AND
Governance practices to manage the affairs of the Company INSIDER TRADING POLICY
in an ethical, accountable, transparent and fair way, with the In accordance with the Securities and Exchange Board of
blend of both legal and management practices, to imbed the India (Prohibition of Insider Trading) Regulations, 2015, as
same in the decision making process of the Company, and to amended from time to time, the Board of Directors (‘the
communicate the same accurately and timely, in such a way Board’) of the Company has adopted the Code for Practices
that both stakeholders’ expectations and legal standards are and Procedures for Fair Disclosure of Unpublished Price
not only met, but the Company surpasses them. Sensitive Information and Policy on Insider Trading. All
our Promoters, Directors, Employees of the Company who
The Company strives to ensure compliance with the various are identified as Designated Persons, and their Immediate
Corporate Governance requirements under the Securities Relatives and other Connected Persons such as auditors,
consultants, bankers amongst others, who could have
and Exchange Board of India (Listing Obligations and
access to the unpublished price sensitive information of the
Disclosure Requirements) Regulations, 2015, as amended
Company are governed under this Insider Trading Policy.
from time to time (‘SEBI Listing Regulations’) and considers
it as its inherent responsibility to protect the rights of our Mr. G Manikandan, Company Secretary & Compliance
stakeholders and disclose timely, adequate and accurate Officer of the Company is the ‘Compliance Officer’ in terms
information regarding our financials and performance, as of this Insider Trading Policy.
well as the leadership and governance of the Company.
BOARD OF DIRECTORS
The Company has complied with the requirements stipulated The Board is at the core of our Corporate Governance
under Regulations 17 to 27 read with Schedule V and clauses practices and oversees and ensures that the Management
(b) to (i) of Regulation 46(2) of the SEBI Listing Regulations, serves and protects the long-term interest of all our
as applicable, with regard to corporate governance. stakeholders. We believe that an active, well-informed and
independent Board is necessary to ensure the highest
Adherence to the various policies and codes adopted by standards of Corporate Governance.
the Company from time to time in conformity with regulatory
requirements helps your Company fulfil this responsibility. SIZE AND COMPOSITION OF THE BOARD
These policies are available on the Company’s website: Our policy is to have an appropriate composition of
https://www.camsonline.com/about-cams/shareholder- Executive and Non-Executive Directors with at least one
relations/policies woman director and the composition of the Board shall be in
accordance with requirements of the Articles of Association
This report highlights the Company’s practices for the of the Company, the Companies Act, 2013, SEBI (Listing
Financial Year 2020 - 21. Obligations and Disclosure Requirements) Regulations,
2015 and the statutory, regulatory and contractual obligations
CODE OF CONDUCT of the company to maintain the Board’s independence and
separate its functions of governance and management.
The Company has adopted the CAMS Code of Conduct
which is available on its website: https://www.camsonline.
As on March 31, 2021, the Board comprised seven (7)
com/about-cams/shareholder-relations/policies directors wherein one (1) is a Whole-Time Director (‘WTD’),
one (1) is a Non-Executive Non-Independent Director
The Code of Conduct articulates the Company’s’ values, (‘NED’), two (2) are Nominee Directors (‘NDs’) and three
ethics and business principles and provides the guidelines (3) are Independent Directors (‘IDs’) including a Woman
by which the company conducts its business. Independent Director. The composition of the Board of
Directors of the Company is in conformity with Regulation
A declaration signed by the Whole-Time Director of the 17 of the SEBI Listing Regulations read with Section 149
Company confirming the compliance by Board Members and of the Companies Act, 2013 (‘Act’). The Board periodically
Senior Management personnel with the Code of Conduct is evaluates the need for change in its composition and size. A
also annexed with this Report. detailed profile of our Directors is available on our website:

https://www.camsonline.com/about-cams/shareholder- have confirmed that they are not aware of any circumstance
relations/composition-board-committees or situation which exists or may be reasonably anticipated
that could impair or impact their ability to discharge their
None of our Directors serve as Director or IDs in more than duties. Based on the declarations received from the IDs, the
7 listed companies. WTD do not serve as IDs on any listed Board of Directors has confirmed that they meet the criteria
company as on date. Further, none of our IDs serve as Non- of independence as mentioned under Section 149 of the Act
Independent Director(s) of any Company on the Board of and Regulation 16(1)(b) of the SEBI Listing Regulations and
which any of our Non-Independent Director is an ID. Pursuant that they are independent of the management. Further, the IDs
to Regulation 26 of the SEBI Listing Regulations, none of our have in terms of Section 150 of the Act read with Rule 6 of the
Directors are members in more than 10 committees or act Companies (Appointment & Qualification of Directors) Rules,
as chairperson of more than 5 committees (the committees 2014, confirmed that they have enrolled themselves in the
being, Audit Committee and Stakeholders’ Relationship Independent Directors’ Databank maintained with the Indian
Committee) across all public limited companies in which Institute of Corporate Affairs.
they are a Director. One Third of the Non-Independent, Non-
Executive Directors are liable to retire by rotation. There are The Company has issued formal letters of appointment to the
no inter-se relationships between our Board Members. IDs and their appointments are in compliance with Regulation
25(1) and (2) of the SEBI Listing Regulations. As required
Independent Directors are NED(s) as defined under Regulation under Regulation 46 of the SEBI Listing Regulations, as
16(1)(b) of the SEBI Listing Regulations read with Section amended, the terms and conditions of appointment of IDs
149(6) of the Act along with Rules framed thereunder. In terms including their role, responsibility and duties are available
of Regulation 25(8) of the SEBI Listing Regulations, the IDs on our website: https://www.camsonline.com/about-cams/
shareholder-relations/disclosures
Table A: Composition of the Board and Directorship(s) held as on March 31, 2021
Name of the Director No. of directorship(s) held No. of Board Committee Directorship(s) in other listed
in Indian Listed Companies positions held in Indian entity (Category of Directorship)
Listed Companies
Chairperson Member Chairperson Member
Dinesh Kumar Mehrotra 1 3 0 6 • UTI Asset Management
Designation: Chairman and Company Limited;
Independent Director • VLS Finance Limited
DIN: 00142711
Natarajan Srinivasan - 4 3 5 • Godrej Agrovet Limited;
Designation: Independent Director • Infrastructure Leasing and
DIN: 00123338 Financial Services Limited
• CG Power And Industrial
Solutions Limited
Vijayalakshmi Rajaram Iyer - 6 5 5 • Aditya Birla Capital Limited;
Designation: Independent Director • GIC Housing Finance Limited;
DIN: 05242960 • ICICI Securities Limited;
• Magma Fincorp Limited; and
• Religare Enterprises Limited
Narendra Ostawal - 2 - 3 • Home First Finance Company
Designation: Nominee Director India Limited
DIN: 06530414
Zubin Soli Dubash - 2 1 1 • Voltas Limited

Designation: Nominee Director
DIN: 00026206
Vedanthachari Srinivasa Rangan - 3 - 6 • Atul Limited;
Designation: Non-executive Director • Housing Development and
DIN: 00030248 Finance Corporation Limited
Anuj Kumar - 1 - 1
Designation: Whole time Director
and Chief Executive Officer
DIN: 08268864
Notes:
1. Directorships in other Indian Public Companies (listed and unlisted) excludes Section 8 Companies.
2. As required under Regulation 26(1)(b) of the SEBI Listing Regulations, the disclosure includes chairmanship/membership of the Audit
Committee and Stakeholders’ Relationship Committee in Indian Public companies (listed and unlisted).

02-35 37-111 112-230
SELECTION OF NEW DIRECTORS AND iv. Management and Financial skills.

BOARD MEMBERSHIP CRITERIA
v. Technical / Professional skills and specialized
The Nomination and Remuneration Committee (‘NRC’) works knowledge in relation to Company’s business.
with the Board to determine the appropriate qualifications,
positive attributes, characteristics, skills and experience FAMILIARISATION PROGRAMME FOR
required for the Board as a whole and its individual members
INDEPENDENT DIRECTORS
with the objective of having a Board with diverse backgrounds
and experience in business, government, education and Independent Directors inducted to the Board are given a
public service. formal orientation on the Company’s business operations,
products, organization structure, as well as the Board
constitution and its procedures through various programmes
DIRECTORS QUALIFICATIONS, SKILLS,
/ presentations at the time of their induction. The IDs are
EXPERTISE, COMPETENCIES AND
also provided with an opportunity to visit the offices of the
ATTRIBUTES Company and interact with members of Senior Management.
The Board comprises qualified members with an appropriate During the year 2020-21 there have been no induction of any
blend of skills, competence, functional and industry expertise independent Directors and hence no specific familiarisation
and diversity of perspectives appropriate to the size and programmes were conducted.
nature of the Company to enable them to effectively
contribute at the Board and Committee meetings. At various Board Meetings held during the year, presentations
were made to the Board on safety, health and environment,
The below matrix summarizes the key skills, expertise,
Company policies, changes in the regulatory environment
competencies and attributes as identified by the NRC for
applicable to the Company, the industry, market and
recommending appointment of Directors on the Board.
customers, operations and other relevant matters.
The following is the list of core skills / expertise / competencies
identified by the Board of Directors as required in the context BOARD EVALUATION
of the Company’s business and that the said skills are The details of the Board Evaluation forms part of the Board’s
available with all the Board Members: Report.
i. Knowledge on Company’s businesses policies and

REMUNERATION POLICY FOR BOARD AND
culture (including the Mission, Vision and Values) major
SENIOR MANAGEMENT
risks / threats and potential opportunities and knowledge
of the industry in which the Company operates. The Board has approved the Remuneration Policy for
Directors, Key Managerial Personnel (‘KMP’) and all other
ii. Behavioural skills - attributes and competencies to use employees of the Company. The same is available on
their knowledge and skills to contribute effectively to the our website at https://www.camsonline.com/about-cams/
growth of the Company. shareholder-relations/policies
iii. Business Strategy, Sales & Marketing, Corporate Details of remuneration for Directors for FY 2020-21 is
Governance, Forex Management, Administration, provided in Table B below.
Decision Making.
Table B: Cash compensation paid to Directors for the year ended March 31, 2021
Name Fixed Salary Commission / Sitting Fees Total
Basic Perquisite / Total Fixed Bonus Compensation
Allowance Salary
Non Executive and Independent Directors
Mr. Dinesh Kumar Mehrotra - - - 2,00,000 19,00,000 21,00,000
Mr. Natarajan Srinivasan - - - 3,50,000 14,50,000 18,00,000
Mrs. Vijayalakshmi Rajaram Iyer - - - 50,000 17,50,000 18,00,000
Non Executive Directors
Mr. Narendra Ostawal - - - - - -
Mr. Zubin Soli Dubash - - - - - -
Mr. Vedanthachari Srinivasa Rangan - - - - 13,50,000 13,50,000
Executive Director
Mr. Anuj Kumar - - 3,37,85,000 - - 3,37,85,000

BOARD MEETINGS MEETING OF THE INDEPENDENT DIRECTORS

Scheduling and selection of agenda items for Board Meetings Pursuant to the provisions of Section 149(8) read with
Schedule IV of the Act and Regulations 25(3) & 25(4) of
All agenda papers for the Board and Committee meetings the SEBI Listing Regulations, a meeting of the Independent
are disseminated electronically on a real-time basis, by Directors was held on March 03, 2021 without the presence
uploading them on a secured online application. The Board of Non-Independent Directors and Members of the
meets at least once a quarter to review the quarterly financial Management to evaluate the performance of all Directors,
results and other items on the agenda. Additional meetings the Chairman and the Board as a whole and its Committees.
are held, as and when necessary. Committees of the Board
meet before the Board Meeting or whenever the need arises BOARD COMMITTEES
for transacting the business. The information as required
There are Seven (7) Committees of the Board as on
under Regulation 17(7) read with Schedule II Part A of the
March 31, 2021. The details of the Committees of the Board
SEBI Listing Regulations is made available to the Board.
are given below.
The recommendations of the Committees are placed before
the Board for necessary approval and/or noting, as the case
Audit Committee
may be.
The primary objective of the Audit Committee (‘Committee’)
During FY 2020-21, Nine (9) Board Meetings were held is to monitor and provide an effective supervision of the
on June 16, 2020, August 10, 2020, August 27, 2020, Management’s financial reporting process, to ensure
September 11, 2020, September 24, 2020, September 29, accurate and timely disclosures, with the highest levels of
2020, November 11, 2020, February 11, 2021 and transparency, integrity and quality of financial reporting.
March 20, 2021. The gap between any two consecutive
Board Meetings during this period did not exceed one The Committee oversees the work carried out in the financial
hundred and twenty days. The necessary quorum was reporting process by the Management and the Company’s
present at all the meetings. Internal and Statutory Auditors.
Table C: Attendance details of Directors for the year ended The Committee also assesses the adequacy and reliability
March 31, 2021 are given below: of the internal control systems. The Committee further
Name of the Director Category No. of Board No. of Board
reviews processes and controls including compliance with
Meetings held Meetings laws, Code of Conduct and Insider Trading Policy, Whistle
during the Attended Blower Policies and related cases thereto, functioning of
tenure the CAMS policy on Prevention, Prohibition & Redressal
Mr. Dinesh Kumar Mehrotra ID 9 9 of Sexual Harassment at workplace and guidelines and
Mr. Natarajan Srinivasan ID 9 9 internal controls.
Mrs. Vijayalakshmi Rajaram ID 9 9
Iyer The Company Secretary acts as the Secretary to the
Mr. Narendra Ostawal ND 9 9 Committee. The Internal Auditor reports functionally to the
Mr. Zubin Soli Dubash ND 9 8 Committee. The Executive Director and Senior Management
Mr. Vedanthachari Srinivasa NED 9 9
of the Company also attend the meetings as invitees
Rangan whenever required, to address concerns raised by the
Mr. Anuj Kumar WTD & 9 9 Committee Members.
CEO
The Audit Committee was constituted by a meeting of
Video conferencing facilities are also used to facilitate the Board held on November 13, 2007 and was last
Directors travelling abroad or at other locations to participate reconstituted by a meeting of the Board held on December
in the meetings. All the Directors except one Director were 17, 2019. The scope and function of the Audit Committee is
present at the Annual General Meeting (‘AGM’) of the in accordance with Section 177 of the Companies Act and
Company held on Friday, July 10, 2020. the Listing Regulations.

02-35 37-111 112-230
During FY2020-21, the Committee met Five (5) times During FY2020-21 the Committee met five (5) times on June
on June 16, 2020, August 10, 2020, August 27, 2020, 16, 2020, August 10, 2020, August 27, 2020, November 11,
November 11, 2020 and February 11, 2021. The requisite 2020 and March 20, 2021. The requisite quorum was present
quorum was present at all the meetings. All decisions at the at all the meetings.
Audit Committee meetings were taken unanimously.
Table E: The composition of the Committee and the
Table D: The composition of the Committee and the attendance details of the Members for the year ended
attendance details of the Members for the year ended March 31, 2021 are given below:
March 31, 2021 are given below:
Name of the Director Category No. of No. of
Name of the Director Category No. of No. of meetings Meetings
meetings Meetings held during Attended
held Attended the tenure
during the
tenure Mrs. Vijayalakshmi Rajaram ID 5 5
Iyer (Chairperson)
Mr. Natarajan Srinivasan ID 5 5
(Chairperson) Mr. Dinesh Kumar Mehrotra ID 5 5
Mr. Dinesh Kumar Mehrotra ID 5 5 Mr. Narendra Ostawal ND 5 5
Mrs. Vijayalakshmi Rajaram ID 5 5 Mr. Vedanthachari NED 5 5

Iyer Srinivasa Rangan
Mr. Zubin Soli Dubash ND 5 4

Mrs. Vijayalakshmi Rajaram Iyer, Chairperson of the
Mr. Natarajan Srinivasan, Chairperson of the Audit Committee Committee was present at the AGM to respond to any
was present at the last AGM of the Company held on Friday, questions that the Members might have on the nomination
July 10, 2020. and remuneration processes of the Company.
Nomination and Remuneration Committee Corporate Social Responsibility Committee

The purpose of the Nomination and Remuneration The purpose of the Corporate Social Responsibility (‘CSR’)
Committee (‘Committee’) includes formulating criteria for Committee (‘Committee’) is to assist the Board in formulating,
determining qualifications, positive attributes, independence monitoring and reviewing the CSR strategy and policy of the
of Directors, succession planning and recommending to the Company and the amount of expenditure to be incurred on
Board of Directors, a policy relating to the remuneration of CSR activities.
the Directors, Key Managerial Personnel and Employees
(‘Remuneration Policy’) overseeing the company’s The Committee also assists the Board to formulate,
process for appointment of Senior Management and their implement and review policies, principles and practices to
remuneration, devising criteria for performance evaluation of foster the sustainable growth that creates value consistent
the Board of Directors (including Independent Directors). The with the long-term preservation and enhancement of financial,
Remuneration Policy and the criteria for making payments manufactured, natural, social, human and intellectual capital.
to Non-Executive Directors is available on our website:
https://www.camsonline.com/about-cams/shareholder- The Corporate Social Responsibility was constituted by
relations/policies our Board at their meeting held on April 16, 2014 and was
last reconstituted by the Board at their meeting held on
The Nomination and Remuneration Committee was originally December 17, 2019.
constituted as the compensation committee, by a meeting
of the Board held on November 13, 2007. The name of the The CSR Policy is available on our website: https://www.
committee was changed to the Nomination and Remuneration camsonline.com/about-cams/shareholder-relations/policies
Committee from compensation committee, by a meeting of the
Board held on November 12, 2014. The committee was last During FY2020-21, two (2) Meetings of the Committee were
reconstituted by a meeting of the Board held on December held on June 16, 2020 and March 27, 2021. The necessary
17, 2019. The scope and function of the Nomination and quorum was present at the meetings.
Remuneration Committee is in accordance with Section 178
of the Companies Act and the Listing Regulations.

Table F: The composition of the Committee and the Risk Management Committee
attendance details of the Members for the year ended The Risk Management Committee was constituted pursuant
March 31, 2021 are given below: to Regulation 21 of the Listing Obligations and Disclosure
Name of the Director Category No. of No. of Requirements, 2015. The role of the Risk Management
meetings Meetings Committee, in brief, is to review the Risk Management
held during Attended
Policy developed by the Management, risk framework and
the tenure
its implementation thereby ensuring that an effective risk
Mr. Dinesh Kumar ID 2 2
Mehrotra (Chairperson) management system is in place.
Mrs. Vijayalakshmi ID 2 2
Rajaram Iyer During FY2020-21, Four (4) Meetings of the Committee were
held on July 18, 2020, October 20, 2020, December 12, 2020
Mr. Zubin Soli Dubash ND 2 1
and February 03, 2021. The necessary quorum was present
Mr. Anuj Kumar WTD & CEO 2 2
at the meetings.
Mr. Dinesh Kumar Mehrotra, Chairperson of the Committee

Table H: The composition of the Committee and the
was present at the last AGM of the Company held on Friday,
attendance details of the Members for the year ended
July 10, 2020.
Stakeholders’ Relationship Committee Name of the Director Category No. of No. of
The Stakeholders’ Relationship Committee (‘Committee’) meetings Meetings
considers and resolves the grievances of our shareholders held during Attended
and other security holders, including complaints relating to the tenure
non-receipt of annual report, transfer and transmission of Mr. Natarajan Srinivasan ID 4 4
securities, non-receipt of dividends/interests, issue of new/ (Chairperson)
duplicate certificates, general meetings and such other Mr. Dinesh Kumar ID 4 4
grievances as may be raised by the security holders from Mehrotra
time to time. Mrs. Vijayalakshmi ID 4 4
Rajaram Iyer
The Stakeholders’ Relationship Committee was constituted
by our Board at their meeting held on December 17, 2019, IT Strategy Committee
and it was last reconstituted on March 20, 2020. The scope The IT Strategy Committee has been constituted as per SEBI
and function of the Stakeholders’ Relationship Committee is circular dated August 10, 2018 on Enhanced monitoring of
in accordance with Section 178 of the Companies Act and Qualified Registrars and Transfer Agents.
the Listing Regulations.
During FY2020-21, One (1) Meeting of the Committee was
During FY2020-21, one (1) Meeting of the Committee was
held on December 01, 2020. The requisite quorum was
held on January 25, 2021. The necessary quorum was
present at the meeting.
present at the meeting.
Table G: The composition of the Committee and the Table I: The composition of the Committee and the
attendance details of the Members for the year ended attendance details of the Members for the year ended
March 31, 2021 are given below: March 31, 2021 are given below:
Name of the Director Category No. of No. of Name of the Member Category No. of No. of
meetings Meetings meetings Meetings
held during Attended held during Attended
the tenure the tenure
Mr. Natarajan Srinivasan ID 1 1 Mr. Narendra Ostawal ND 1 1
(Chairperson)
Mr. V S Rangan NED 1 1
Mr. Narendra Ostawal ND 1 1
Mr. Somasundaram CFO 1 1
Mr. Anuj Kumar WTD &CEO 1 1 Mr. Srikanth Tanikella COO 1 0
Mr. Ravi Kethana CPO 1 1
Mr. Natarajan Srinivasan, Chairperson of the Stakeholder
Mr. Anuj Kumar WTD & CEO 1 1
Relationship Committee was present at the last AGM of the
Company held on Friday, July 10, 2020.

02-35 37-111 112-230
IPO Committee GENERAL INFORMATION FOR SHAREHOLDERS

The IPO Committee was constituted for the purpose of Corporate Identity Number (CIN) of the Company: The CIN
carrying out the activities relating to the Initial Public Offer of of the Company is L65910TN1988PLC015757.
the company.
Disclosures regarding the Re-appointment of
During FY2020-21, Three (3) Meetings of the Committee Directors
were held on September 02, 2020, September 15, 2020 and In terms of the relevant provisions of the Act, Mr. Narendra
September 18, 2020. The necessary quorum was present at
Ostawal (DIN: 06530414) is liable to retire by rotation at the
the meetings.
ensuing AGM and being eligible, seek re-appointment.
Table J: The composition of the Committee and the

The Board recommends the above re-appointment for the
attendance details of the Members for the year ended
approval of the Members at the ensuing AGM.
Name of the Director Category No. of No. of Means of Communication
meetings Meetings
held Attended Timely sharing and disclosure of consistent, comparable,
during the relevant and reliable information on the Company’s
tenure performance is at the core of its Corporate Governance
Mr. Dinesh Kumar Mehrotra ID 3 3 Policy. Steps taken by the Company in this regard are
Mr. Narendra Ostawal ND 3 3 given below:
Mr. V S Rangan NED 3 3
● Financial Results
In terms of Regulation 6 and Schedule V of the SEBI Listing The Company publishes the quarterly, half-yearly and
Regulations, the Board has appointed Mr. G Manikandan, annual financial results of the Company in Mint and
Company Secretary & Compliance Officer as the Compliance Makkal Kural (English and Tamil edition). The results
Officer of the Company, the details of whom are given below: are promptly disseminated to BSE Limited (‘BSE’) for
display on their website as well as uploaded on the
Name of the Compliance Officer : Mr. G Manikandan
website of the Company at https://www.camsonline.
Designation :C
ompany Secretary & com/about-cams/shareholder-relations/policies
Compliance Officer immediately after the Board Meetings. The statutory
notices are published in ‘Financial Express and Makkal
Address :F
lat No.1A, Shri
Kural’’ (English and Tamil edition). The Company also
Jaya Nivas 37, 5th
issues press releases from time to time.
Trust Cross Street,
Mandavelipakkam
● Annual Report
Chennai – 600028
Tamilnadu, India. The Annual Report containing, inter-alia, Audited Annual
Accounts, Consolidated Financial Statements, Board’s
During FY20-21, the Company received 1,027 shareholder Report, Management Discussion and Analysis and
complaints and the same were resolved to the satisfaction other regulatory reports is circulated to the Members
of the shareholder. As on March 31, 2021, the Company and others entitled thereto. The Annual Reports for
did not have any complaint pending for resolution on the previous year is also available on the website of
online redressal portal of SEBI i.e. SCORES. The details the Company:
of shareholder complaints received and redressed during
FY2020-21 were as below: https://www.camsonline.com/about-cams/shareholder-
relations/annual-report
Opening Received Resolved Closing
Balance as on during the during the Balance as
October 01, year year on March 31, ● Disclosures to Stock Exchanges
2020 2021
0 1027 1027 0 All price sensitive information and matters that are
material to shareholders are disclosed to the Stock
The complaints majorly pertained to Non receipt of refunds Exchanges Limited, where the equity shares of the
in the IPO and Non receipt of dividends which have been Company are listed. All submissions to the Stock
addressed to by the company from time to time. Exchange are made through the respective electronic

online filing systems. The same are also available on Certificates from Practicing Company Secretaries
the Company’s website: As required by Regulation 34(3) and Schedule V Part E of
the SEBI Listing Regulations, the certificate given by M/s. B.
https://www.camsonline.com/about-cams/shareholder- Chandra & Associates, Practicing Company Secretaries, is
relations/stock-exchange-intimation annexed to this report.
● Website As required under Clause 10(i) of Part C under Schedule V

The Company’s website provides details on its of the SEBI Listing Regulations, the Company has received
leadership, management, policies, corporate a certificate from M/s. B. Chandra & Associates, Practicing
governance, corporate social responsibility, shareholder Company Secretaries, certifying that none of our Directors
relations, products and processes and updates and have been debarred or disqualified from being appointed or
news. The Section on ‘Shareholder Relations’ serves to continuing as Directors of the Company by SEBI or MCA or
inform the Shareholders, by giving complete financial such other statutory authority.
details, stock exchange compliances and disclosures
including shareholding patterns and, information CEO and CFO certification
on unclaimed dividend of Shareholders, details of As required under Regulation 17(8) read with Schedule II
Registrars & Transfer Agent. Part B of the SEBI Listing Regulations, the Chief Executive
Officer and Chief Financial Officer have given appropriate
Share Transfer System certifications to the Board of Directors.
Pursuant to SEBI Circular Nos. D&CC/FITTC/CIR-15/2002
dated December 12, 2002 and D&CC/FITTC/CIR-18/2003 Reconciliation of Share Capital Audit Report
dated February 12, 2003, Link Intime India Private Limited, Pursuant to the provisions of Regulation 40(9) and 61(4)
which is already the Depository Interface of the Company of the SEBI Listing Regulations, a Company Secretary in
for both National Securities Depository Limited (‘NSDL’) and Practice has issued half-yearly certificates with respect to
Central Depository Services (India) Limited (‘CDSL’), has due compliance of share and security transfer formalities by
been appointed as Registrar and Transfer Agents (‘RTA’) for the Company.
all the work related to share registry in terms of both physical
and electronic holdings. Pursuant to Regulation 76 of the Securities and Exchange
Board of India (Depositories and Participants) Regulations,
During the financial year 2019-20, the Securities and 2018, a Company Secretary in Practice carries out a
Exchange Board of India (‘SEBI’) and Ministry of Corporate Reconciliation of Share Capital Audit to reconcile the
Affairs (‘MCA’) has mandated that existing members of the total admitted capital with NSDL and CDSL (collectively
Company who hold securities in physical form and intend to ‘Depositories’) and the total issued and listed capital of the
transfer their securities after April 01, 2019, can do so only in Company. The audit confirms that the total listed and paid-up
dematerialised form. Presently all the shares except one are capital is in agreement with the aggregate of the total number
held in demat form. of shares in dematerialised form (held with Depositories)
and total number of shares in physical form. This audit is
Details of Show Cause Notices received carried out every quarter and the report thereon is submitted
During the year, the Company has not received any Show to the Stock Exchanges where the Company’s shares are
Cause Notices from SEBI. listed. The quarterly Audit Report as submitted to the Stock
Exchange is available on the Company’s website:
Details of Non-Compliance
There have been no instances of non-compliance by the https://www.camsonline.com/about-cams/shareholder-
Company nor have any penalties or strictures been imposed relations/stock-exchange-intimation
on the Company by the Stock Exchange(s) or SEBI or any
Statutory Authority, on any matter related to capital markets, Related Party Transactions
during the last three years. All transactions entered into with related parties as defined
under the Act and Regulation 23 of the SEBI Listing
None of the Company’s listed securities are suspended Regulations, each as amended, during the year under review
from trading. were on an arm’s length price basis and in the ordinary
course of business. These have been approved by the

02-35 37-111 112-230
Audit Committee. The Company has not entered into any unethical behaviour, actual or suspected fraud or violation of
materially significant related party transaction that may have the codes of conduct or policy of the Company.
potential conflict with the interests of the Company at large.
The details of the Vigil Mechanism are given in the Board’s
The Board of Directors have approved and adopted a Policy
Report. The Whistle Blower Policy for Directors and
on Related Party Transactions and the same is updated from
Employees as adopted by the Board of Directors of the
time to time basis amendments in the regulatory provisions.
Company on July 11, 2018, is available on the Company’s
The Policy is available on the Company’s website:
website:
https://www.camsonline.com/about-cams/shareholder- https://www.camsonline.com/about-cams/shareholder-
relations/policies relations/policies
During the year under review, no person has been denied
During the FY2020-21, the Company did not have any material
access to the Chairperson of the Audit Committee.
pecuniary relationship or transactions with Non-Executive
Directors apart from paying Director’s remuneration. Further,
Employees Stock Option Plan
the Directors have not entered into any contracts with the
The Certificate from the Auditors of the Company confirming
Company or its subsidiaries, which will be in material conflict
that the Employees Stock Option Plan scheme has been
with the interests of the Company.
implemented in accordance with the Securities and
The Board has received disclosures from KMPs relating to Exchange Board of India (Share Based Employee Benefits)
material, financial and commercial transactions where they Regulations, 2014 and in accordance with the resolution
and/or their relatives have personal interest. of the company is available for inspection electronically
and a mail requesting for the same can be sent to
Material Subsidiary Companies secretarial@camsonline.com
There is no material unlisted subsidiary company requiring

Disclosures in relation to Sexual Harassment at
appointment of an Independent Director of the Company on
Workplace
the Board of Directors of such unlisted subsidiary company.
The disclosures in relation to the Sexual Harassment of
Policy for Determining Material Subsidiaries Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013 are given as under:
The Company has formulated a Policy for Determining
Material Subsidiaries and the same is available on the a. Number of complaints filed during the financial year
Company’s website: – Nil
https://www.camsonline.com/about-cams/shareholder- b. Number of complaints disposed of during the financial
relations/policies year – Nil
Vigil Mechanism c. Number of complaints pending as on end of the financial

year – Nil
The Company has in place a Vigil Mechanism that provides a
formal mechanism for the Directors, employees and vendors Consolidated Fees paid to Statutory Auditors
to approach the Chairperson of the Audit Committee and During the Financial Year 2020-21, the total fees for all
make protective disclosures about the unethical behaviour, services paid by the Company to M/s. Brahmayya & Co.,
actual or suspected fraud or violation of the Code of Conduct, (Firm Registration Number: 000511S), Statutory Auditors of
thereby ensuring that the activities of the Company are the Company is as under:
conducted in a fair and transparent manner.
Table K: Consolidated fees paid to statutory auditors:
The Whistle Blower Policy is available on our
website: (Rs. In Lakhs)
https://www.camsonline.com/about-cams/shareholder- Particulars Amount
relations/policies Statutory Audit Fee 22.30
Tax Audit Fee 5.75
For FY 2020-21, the Company had in place, a Whistle Reimbursement of Expenses 0.06
Blower Policy (‘Policy’) establishing a Vigil Mechanism,
Other Services 24.93
which provides a formal mechanism to the Directors and
Total 53.04
employees to report to the Management, concerns about

Additionally, the Statutory Auditors rendered the service of Annual Listing Fees
providing report on the restated financial statements and the The Annual Listing Fees for the financial year 2020-21 have
related certificates in relation to the initial public offering of been paid within the due dates to BSE Limited (‘BSE’) and
the Company’s equity shares by selling shareholder including National Stock Exchange(NSE) where the shares of the
related out-of-pocket expenses but excluding applicable company are listed.
taxes for which Rs. 45 lakhs had been paid by the Company
and reimbursed by the selling shareholders. Dematerialisation of shares and liquidity
GENERAL BODY MEETINGS As per the notification issued by SEBI, the Company’s Equity
Shares are compulsorily tradable in electronic form. The
Table L: Location and time for the last three Annual
International Securities Identification Number (‘ISIN’) allotted
General Meetings (AGMs):
to the Equity Shares of the Company under the Depository
Particulars FY2019-20 FY2018-19 FY2017-18 System is INE596I01012.
Day, Date, Friday, July10, Wednesday, July Monday, June
Time & 2020 at 12 10, 2019 at 4:00 PM 25, 2018 at 48,791,037 equity shares, representing 99.99% of the
Venue Noon through at the Conference 4.00 PM at the Company’s paid-up equity share capital, have been
two way Video Room, Rayala Conference
Conferencing Towers, 158, Anna Room, Rayala dematerialized as on March 31, 2021. Only one share is held
(“VC”) or Salai, Chennai 600 Towers, 158, in physical form by a shareholder. Further, during FY2018-
Other Audio 002. Anna Salai, 19, the Securities and Exchange Board of India (‘SEBI’)
Visual Means Chennai 600 and Ministry of Corporate Affairs (‘MCA’) has mandated
(“OAVM”) 002.
that existing members of the Company who hold securities
Special Nil To appoint Mr. Anuj Nil
Resolutions Kumar as a Director in physical form and intend to transfer their securities after
passed of the Company April 01, 2019, can do so only in dematerialised form. Hence,
To appoint Mr. trading in equity shares of the Company is permitted only in
Narendra Ostawal dematerialized form as per notification issued by SEBI.
as a Director of the
Company Outstanding GDRs/ADRs/Warrants or any convertible
To appoint Mr. H N instruments, conversion date and likely impact on equity
Sinor as a Director of
the Company As on March 31, 2021, the Company does not have any
To appoint Mr. David outstanding GDRs/ADRs/ Warrants.
Coulter as a Director
of the Company Disclosures with respect to Demat Suspense Account /
To appoint Mr. Unclaimed Suspense Account
Zubin Soli Dubash In accordance with the requirement of Regulation 34(3) and
as a Director of the
Company Part F of Schedule V to the SEBI Listing Regulations, details
of equity shares in the suspense account are as follows:
Table M: Annual General Meeting 2021 Particulars No. of No. of
Shareholders equity
Day and Date: Thursday July 29, 2021
shares
Time: 4.00 PM (IST)
Aggregate Number of shareholders and 0 0
Venue: Annual General Meeting will be held through Video
the outstanding shares in the suspense
Conferencing / Other Audio Visual Means as set
account lying as on April 01, 2020
out in the Notice convening the Annual General
Meeting. Deemed venue of the Meeting is the Number of shareholders who 0 0
corporate office of the company ie 158, Rayala approached listed entity for transfer of
Tower, Anna Salai, Chennai 600 002 shares from suspense account during
Financial Year April 01 to March 31 the year
Dates of Book The Interim dividends were paid based on Record Number of shareholders to whom 0 0
Closure Date and there was no Book Closure. shares were transferred from suspense
Proposed A final Dividend of Rs. 11.84 per equity shares has account during the year
Dividend & been proposed which subject to approval of the Shareholders whose shares are 0 0
Payment Date shareholders will be paid between August 25 , 2021 transferred to the demat account of the
and August 30, 2021 for electronic transfer to the IEPF Authority as per Section 124 of the
shareholders who have furnished bank account Act
details to the Company/ its Registrar.
Aggregate number of shareholders and 0 0
Physical warrants shall be dispatched to the the outstanding shares in the suspense
shareholders, who have not furnished Bank details account lying as on March 31, 2021

02-35 37-111 112-230
The voting right on the shares outstanding in the Suspense Maintenance of Chairman’s office: The Non-Executive
Account as on March 31, 2021 shall remain frozen until the Chairman has a separate office which is not maintained by
rightful owner(s) of such shares claims the shares. the Company.
Designated e-mail id for investor services Transfer of Unclaimed Dividend and Shares to
To serve the investors better and as required under Regulation Investor Education and Protection Fund
46(2)(j) of the SEBI Listing Regulations, the Company Pursuant to the provisions of Section 124 and 125 of the
has a dedicated e-mail address for investor complaints: Act, read with Investor Education Protection Fund Authority
secretarial@camsonline.com which is continuously (Accounting, Audit, Transfer and Refund) Rules, 2016 as
monitored by the Company’s Compliance Officer. amended, the dividends, unclaimed for a period of seven
years from the date of transfer to the Unpaid Dividend
Compliance with discretionary requirements Account of the Company is mandatorily required to be
All mandatory requirements of the SEBI Listing Regulations transferred to the Investor Education and Protection Fund
have been complied with by the Company. The status of (‘IEPF’) established by the Central Government. Further,
compliance with the discretionary requirements, as stated the shares pertaining to which dividend remains unclaimed /
under Part E of Schedule II to the SEBI Listing Regulations, unpaid for a period of seven years from the date of transfer to
is as under: the Unpaid Dividend Account of the Company are also liable
to be transferred to the IEPF. The said requirement does not
The Board: As on date, the positions of the Chairman and apply to shares in respect of which there is a specific order of
the Managing Director/Whole Time Director are separate. Court, Tribunal or Statutory Authority, restraining any transfer
Mr. D K Mehrotra is the Independent and Non- Executive of the shares.
Chairman of the Board and Mr. Anuj Kumar is the Whole-time
Director of the Company. The Company has sent individual communication to the
concerned shareholders at their registered address, whose
Modified opinion(s) in Audit Report: The Auditors have dividend remains unclaimed and the details are uploaded on
expressed an unmodified opinion in their report on the the Company’s website.
financial statements of the Company.
During the year under review, the Company has not credited
Reporting of Internal Auditor: The Internal Auditor reports to any amount to the IEPF Account.
the Audit Committee and submits quarterly presentations to
the Committee on their reports.
Table N: Distribution of shareholding of Company’s Shareholders as on March 31, 2021

The distribution of equity shareholding as on March 31, 2021 is as below:
Category Category of Nos. of No. of Total nos. Shareholding Total nos. Shareholding Number of Locked in Number
shareholder shareholders fully paid shares as a % of total shares as a % of total shares of equity
up equity held no. of shares held no. of shares shares held in
shares (calculated (calculated No. (a) As a % dematerialised
held as per SCRR, as per SCRR, of total form
1957) 1957) Shares
held(b)
(A) Promoter & 1 15,115,600 15,115,600 30.9803 15,115,600 30.9803 15,115,600 100 15,115,600
Promoter Group
(B) Public 161,789 33,675,438 33,675,438 69.0197 33,675,438 69.0197 13447400 39.9323 33,675,437
(C) Non Promoter - 0
Non Public
(C1) Shares 0 0 0 0 0 0 0 0 0
Underlying DRs
(C2) Shares Held By 0 0 0 0 0 0 0 0 0
Employee Trust
Total 161,790 48,791,038 48,791,038 100 48,791,038 100 28,563,000 58.5414 48,791,037

Nomination Facility RTA may use physical payment instruments for making
As per the provisions of the Act, facility for making nomination cash payments to the investors. Companies shall mandatorily
is available to the Members in respect of shares held by them. print the bank account details of the investors on such
Nomination forms (SH-13/SH-14) can be obtained from the payment instruments.
Company’s RTA by Members holding shares in physical
Regulation 12 of the SEBI Listing Regulations allows the
form. Members holding shares in electronic form may obtain
Company to pay dividend by cheque or ‘payable at par’
Nomination forms from their respective DPs.
warrants, where payment by electronic mode is not possible.
Shareholders may kindly note that payment of dividend
Members holding shares in single name are especially
and other cash benefits through electronic mode has many
advised to make nomination in respect of their shareholding
advantages like prompt credit, elimination of fraudulent
in the Company and for cancellation and variation of
encashment/delay in transit and more. They are requested
nomination, if they are desirous of doing so.
to opt for any of the above mentioned electronic modes of
payment of dividend and other cash benefits and update
Shares held in Electronic Form
their bank details:
Shareholders holding shares in electronic form may please
note that instructions regarding change of address, bank a) In case of holdings in dematerialised form - By contacting
details, email ids, nomination and power of attorney should their DP and giving suitable instructions to update the
be given directly to the DP. bank details in their demat account.
Shares held in Physical Form b) In case of holdings in physical form - By informing the
Company’s RTA i.e., Link Intime India Private Limited,
Shareholders holding shares in physical form may please
through a signed request letter with details such as their
note that instructions regarding change of address, bank
Folio No(s), Name and Branch of the Bank in which
details, emails ids, nomination and power of attorney should
they wish to receive the dividend, the Bank Account
be given to the Company’s RTA i.e., Link Intime India Private
type, Bank Account Number allotted by their banks after
Limited.
implementation of Core Banking Solutions ‘CBS’) the 9
digit MICR Code Number and the 11 digit IFSC Code.
Updation of bank details for remittance of dividend/
This letter should be supported by a cancelled cheque
cash benefits in electronic form
bearing the name of the first shareholder.
The SEBI vide its Circular No. CIR/MRD/DP/10/2013 dated
March 21, 2013 (‘Circular’) to all listed companies requires Table O: Details of ISIN and Exchanges where shares
them to update bank details of their shareholders holding of the company are listed as on 31.03.2021
shares in demat mode and/or physical form, to enable usage
Stock Exchanges ISIN Stock Code
of the electronic mode of remittance i.e., National Automated
Clearing House (‘NACH’) and National Electronic Fund BSE Limited (‘BSE’) INE596I01012 543232
Transfer (‘NEFT’), for distributing dividends and other cash Phiroze Jeejeebhoy Towers,
benefits to the shareholders. Dalal Street, Mumbai – 400
001, Maharashtra, India
The Circular further states that in cases where either the bank
details such as Magnetic Ink Character Recognition (‘MICR’) Market Information
and Indian Financial System Code (‘IFSC’), amongst others, Table P: Market Price Data- High, Low (based on daily
that are required for making electronic payment are not closing price) and volume (no. of shares traded) during each
available or the electronic payment instructions have failed month in Financial Year 2020-21 of the Company’s shares,
or have been rejected by the Bank, the Companies or its on BSE and NSE:
Month Open High Low Close No of Trades No of shares traded

NSE BSE NSE BSE
October 2020 1518.00 1,550.00 1,294.00 1,297.95 4,67,764 7,42,085 46,90,154 1,51,40,388
November 2020 1297.95 1,499.00 1,260.00 1,444.10 2,93,624 70,704 43,64,740 5,38,768
December 2020 1450.00 1,889.60 1,436.95 1,805.45 5,39,587 1,06,954 81,59,845 11,28,538
January 2021 1801.00 1,865.45 1,752.05 1,777.10 2,06,717 33,591 20,76,209 2,40,298
February 2021 1809.00 2,039.95 1,700.25 1,824.85 2,88,145 36,819 30,93,464 3,41,420
March 2021 1865.00 1,940.10 1,751.00 1,852.70 1,86,936 19,161 21,41,484 1,66,666

02-35 37-111 112-230
The Company’s shares are regularly traded on BSE Limited and National Stock Exchange of India Limited. Table containing
Market Information.
Table Q: Performance of the share price of the Company in comparison to broad-based indices like BSE Sensex and Nifty
50 are given below:
Month Closing Price of BSE SENSEX Closing Price of Nifty 50
Equity Shares at BSE Equity Shares at NSE
October, 2020 1297.95 39614.07 1,296.85 11,642.40
November, 2020 1444.10 44149.72 1,445.15 12,968.95
December, 2020 1805.45 47751.33 1,805.70 13,981.75
January, 2021 1777.10 46285.77 1,776.75 13,634.60
February, 2021 1824.85 49099.99 1,825.50 14,529.15
March, 2021 1852.70 49509.15 1,846.40 14,690.70
Closing Price of Equity Shares at BSE & BSE Sensex
55000 2000
CLOSING PRICE OF EQUITY SHARES

50000 1800
45000 1600
40000
1400
35000
BSE SENSEX
1200
30000
1000
25000
800
20000
600
15000
10000 400
5000 200
0 0
October, 2020 November, 2020 December, 2020 January, 2021 February, 2021 March, 2021
BSE SENSEX Closing Price of Equity Shares at BSE
Closing Price of Equity Shares at NSE and Nifty 50

CLOSING PRICE OF EQUITY SHARES AT NSE
16000 2000
1800
14000
1600
12000
1400
10000 1200
NIFTY 50
8000 1000
800
6000
600
4000
400
2000
200
0 0
October, 2020 November, 2020 December, 2020 January, 2021 February, 2021 March, 2021
Nifty 50 Closing Price of Equity Shares at NSE

Secretarial Audit ADDRESS FOR CORRESPONDENCE:

The Company’s Board of Directors appointed M/s. B. Registered Office : N
ew No. 10, Old No. 178, M.G.R. Salai,
Chandra & Associates, Practising Company Secretaries, to Nungambakkam, Chennai 600034,
conduct secretarial audit of its records and documents for the Tamil Nadu, India
Financial Year 2020-21. Corporate Office :N
o.158, Rayala Towers, Tower - I, Anna
Salai, Chennai 600002, Tamil Nadu,
The secretarial audit report confirms that the Company has India
complied with all applicable provisions of the Companies
Website : www.camsonline.com
Act 2013, Secretarial Standards, Depositories Act 2018,
SEBI (Listing Obligations and Disclosure Requirements) E-mail : secretarial@camsonline.com
Regulations, 2015, SEBI (Prohibition of Insider Trading)
Regulations, 2015, each as amended and all other Registrar and Share Transfer Agents:
Regulations and guidelines of SEBI as applicable to the Name : Link Intime India Private Limited
Company except as mentioned therein. The Secretarial Audit Address : C-101, 1st Floor, 247 Park, Lal Bahadur Shastri
Report forms part of the Board’s Report. Marg, Vikhroli (West) Mumbai-400 083,
Maharashtra, India
Green Initiative
E-mail : rnt@linkintime.co.in
As a responsible corporate citizen, the Company welcomes
Investor grievance e-mail : rnt@linkintime.co.in
and supports the ‘Green Initiative’ undertaken by the Ministry
of Corporate Affairs, Government of India, enabling electronic Website : www.linkintime.co.in
delivery of documents including the Annual Report, amongst
others, to shareholders at their e-mail address previously DETAILS OF CORPORATE POLICIES/
registered with the DPs and RTAs. CODES
The corporate governance policies are uploaded on the
Shareholders who have not registered their e-mail addresses website of the company:
so far, are requested to do the same. Those holding shares
in demat form can register their e-mail address with their https://www.camsonline.com/about-cams/shareholder-
concerned DPs. Shareholders who hold shares in physical relations/policies
form are requested to register their e-mail addresses with the
RTA, by sending a letter, duly signed by the first/sole holder
quoting details of their Folio No. On behalf of the Board of Directors
CREDIT RATING Sd/-

There are no credit ratings assigned to the Company’s Place: Chennai Dinesh Kumar Mehrotra
facilities during the year. Date: May 25, 2021 Chairman
DIN: 00142711

02-35 37-111 112-230
ANNEXURE I
DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND
SENIOR MANAGEMENT PERSONNEL WITH THE CODE OF CONDUCT
This is to confirm that the Company has adopted the CAMS Code of Conduct for its Directors including the Whole-time Director
and Senior Management.
The Code is available on the Company’s website:

https://www.camsonline.com/about-cams/shareholder-relations/policies
I confirm that the Company has in respect of the financial year ended March 31, 2021, received from the Senior Management
Team of the Company and the Members of the Board, a declaration of compliance with the Code of Conduct as applicable
to them.
For the purpose of this declaration, Senior Management Team means the Members of the Management one level below the
Wholetime Director as on March 31, 2021.
On behalf of the Senior Management Team
Sd/-
Anuj Kumar
Place : Chennai Wholetime Director
Date : May 25, 2021 DIN: 08268864

ANNEXURE II
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS
(pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015)
To
The Members,
New No.10, Old No.178, M.G.R.Salai,
Nungambakkam
Chennai-600034
Dear Sir/Madam,
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of COMPUTER AGE
MANAGEMENT SERVICES LIMITED bearing CIN L65910TN1988PLC015757 and having registered office at New No.10, Old
No.178, M.G.R.Salai, Nungambakkam Chennai 600034 (hereinafter referred to as ‘the Company’), produced before me/us by
the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub
clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number
(DIN) status at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its
officers, I hereby certify that none of the Directors on the Board of the Company for the Financial Year ending on March 31,
2021 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and
Exchange Board of India, Ministry of Corporate Affairs, or any such other Statutory Authority.
Ensuring the eligibility of for the appointment / continuity of every Director on the Board is the responsibility of the management
of the Company. Our responsibility is to express an opinion on these based on our verification. This certificate is neither an
assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has
conducted the affairs of the Company.
Sd/-
B Chandra
Practising Company Secretary
Membership No: 20879
Place : Chennai CP: 7859
Date : May 25, 2021 UDIN: A020879C000365773

02-35 37-111 112-230
ANNEXURE III
PRACTISING COMPANY SECRETARY CERTIFICATE ON CORPORATE GOVERNANCE

To
The Members of
COMPUTER AGE MANAGEMENT SERVICES LIMITED
1. I have examined the compliance of conditions of Corporate Governance by M/s. COMPUTER AGE MANAGEMENT
SERVICES LIMITED, for the year ended on March 31, 2021, as stipulated under the relevant provisions of Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as referred to in the
Listing Regulations for the period April 01, 2020 to March 31, 2021, with the relevant records and documents maintained
by the Company and furnished to us and the Report on Corporate Governance as approved by the Board of Directors.
2. The compliance of conditions of Corporate Governance is the responsibility of the management. My examination was
limited to review of procedures and implementation thereof, adopted by the Company for ensuring the compliance of the
conditions of corporate governance as stipulated in the said clause. It is neither an audit nor an expression of opinion on
the financial statements of the Company.
3. Based on the aforesaid examination and according to the information and explanations given to us, I certify that
the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned
Listing Regulations.
4. I further state that, such compliance is neither an assurance as to the future viability of the Company nor the efficiency or
effectiveness with which the management has conducted the affairs of the Company.
Sd/-
B Chandra
Practising Company Secretary
Membership No: 20879
Place : Chennai CP: 7859
Date : May 25, 2021 UDIN: A020879C000365773

ANNEXURE-IV
CEO AND CFO CERTIFICATION
We, Anuj Kumar, Chief Executive Officer and Somasundaram M, Chief Financial Officer certify that:
a) We have reviewed the financial statements and cash flow statement for the period ended March 31, 2021 and to the best
of our knowledge and belief:
• these statements do not contain any materially untrue statement or omit any material fact or contain statements that
might be misleading;
• these statements together present a true and fair view of the Company’s affairs and comply with existing Accounting
Standards, applicable laws and regulations.
b) To the best of our knowledge and belief, no transactions entered into by the Company during the period ended March 31,
2021 are fraudulent, illegal or violative of the Company’s code of conduct.
c) We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated
the effectiveness of internal control systems of the Company pertaining to financial reporting. Deficiencies in the design
or operation of such internal controls, if any, of which we are aware have been disclosed to the auditors and the Audit
Committee and steps have been taken to rectify these deficiencies.
d) i) There has not been any significant change in internal control over financial reporting during the period
under reference;
ii) There has not been any significant change in accounting policies during the period requiring disclosure in the notes
to the financial statements; and
iii) We are not aware of any instance during the period of significant fraud with involvement therein of the management
or any employee having a significant role in the Company’s internal control system over financial reporting.
Sd/- Sd/-
Place: Chennai Anuj Kumar Somasundaram M
Date: May 25, 2021 Chief Executive Officer Chief Financial Officer

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Management Discussion and Analysis

OVERALL SCENARIO Debt with 74% of the Industry’s assets and 63% in equity
Year 2020-21 started with a gloomy outlook on account of assets. Despite the volatility and the uncertainty, the unique
Covid-19 driven lockdowns and consequent halt to economic live investor base grew by 8 lakhs to serve a total of 1.6 crore
activities across the globe. What started off as a health crisis investors. SIP new registrations were subdued for the first
soon morphed into economic crisis. Quick response by nine months and saw a surge in the last quarter to help add
Governments and Central Bankers enabled a near V shaped about 14 lakh net new SIPs into CAMS live SIP book during
recovery especially in the financial markets. Year ended on the year. Among the distribution segments, Fintechs were
a high note, except for few countries, with multiple vaccines driving new folios and SIP accretion and CAMS serviced
coming to market and strong pick-up in economic activity. Funds recorded 90 lakh new folios, a 14% growth over
Stock markets across the globe returned robust returns aided previous year.
by liquidity. The year established new normal for working,
shopping and social interactions. Despite the COVID pandemic related challenges, the
year was an eventful year with the, mutual fund industry
For India, year 2020-21 has been an eventful year with crossing Rs. 30 trillion milestone and filled with multiple and
unprecedented macroeconomic, regulatory and customer significant regulatory changes. Our business continuity was
delivery challenges. In March, country declared COVID-19 executed to ensure meeting of SLAs, despite a large work
as a “notified disaster” for the purposes of the Disaster force operating from home. Government and Regulator
Management Act, 2005 and imposed a nationwide lockdown brought in many changes throughout the year such as TDS
beginning on March 25, 2020. The lockdown lasted until on dividend, Stamp duty, multiple changes to cut-off timings
May 31, 2020 and has been extended periodically by varying which required a quantum change in investor and distributor
degrees by state governments and local administrations. communication. With its strong focus on customer and
The lifting of the lockdowns across various regions has been operational excellence and financial prudence, the company
regulated with progressive relaxations being granted for could navigate the tough business environment to ensure
movement of goods and people. Economic activity picked up that investors are not impacted.
sharply and equity markets did a smart rally. Year saw a flood
of successful IPOs. Just when everyone thought worst is THE YEAR IN FOCUS
behind them, wave two struck India viciously. Financial year The financial year began in the middle of an intense
ended on almost similar mood as the beginning of the year. nationwide lockdown mandated due to the unprecedented
crisis arising from the spread of Coronavirus. For the first
BUSINESS ENVIRONMENT time in the history of the organization, the company started
Indian equities faced massive sell-offs in late March 2020 work-from-home operations in March, 2020 after working
largely by FPIs mirroring the global scenario leading to the through numerous design-aspects of the new paradigm
sharp depression in the Indian MF Assets. However, there such as information security, availability of desktops and last
was quick recovery in the equities market in April 2020 mile connectivity in the houses of employees. The Company
which put the AuM back on its recovery track and record could provide uninterrupted and extensive core services from
new historic highs crossing the Rs. 30 trillion milestone and the first day of lockdown for the AMCs. Expansion of risk
Equity assets reaching its all-time high at Rs.12.93 lakh crore and lowering of controls arising from the work-from-home
in March 2021. However, Equity Mutual Funds net inflows environment were extensively anticipated, documented,
remained negative through most months of the year due to managed and shared with clients.
lumpsum redemptions and SIP cancellations outpacing new
registrations. Debt Fund net inflows was buoyant and helped CAMS continued to focus on its digital strategies with a
off-set the negative equity net flows. The growth in AuM of slew of digital properties made available to the market to
retail and HNI customers has outpaced that of corporates manage the lockdown situation. These digital properties
and other institutional investors with Individual investors now continued to do well, set new milestones and we are now
accounting for ~54% of the total AuM of the Rs.32 trillion successfully engaging AMCs with white-labelled formats of
overall AuM. these utilities so that the AMCs digital teams engage with us
more deeply. myCAMS, the company’s mobile app for the
CAMS retained its market share of the over-all AuM at 69% Mutual fund investors crossed the 4 million user mark and
and now serves all Top 5 Asset Managers with Kotak Mutual continues to contribute a significant % of digital transactions.
Fund securing the 5th spot. Our asset mix remains higher in CAMServ, our chatbot, is now functional across some AMC

websites in a white-labelled format. edge360, our new digital On the CAMSPay digital B2B services, the business could
distributor platform, continues to gain usage and acceptance not add any significant client wins during the first half of the
with more than 13000 distributors while GoCORP is now at year, again due to the Pandemic impact, however, there has
14.8% share of Gross sales of the Liquid transaction market been positive traction in sign-ups and adoption to digital
(previous year @ 11%). payment offering from tech lead financial entities. CAMSPay
signed up with 3 leading AMCs to integrate new payment
The Mutual Fund Regulatory environment continues to be offerings and received approval from a private life insurance
intensive with a spate of fresh changes including substantial company to integrate with their website and digital properties,
ones such as Stamp duty on MF transactions and imposition this positive movement is expected to continue in FY22.
of withholding tax on dividend income emanating from the
Union budget. The second half the financial year saw a A wholly owned subsidiary- CAMS Payment Services Private
slew of impactful regulatory changes which demand several Limited has been formed and it has applied to RBI to be a
systemic changes to be implemented in a short time. This Payments Aggregator. While CAMSPay is already a compliant
year has also seen intense engagement of CAMS with SEBI payments platform, efforts are being taken to enhance our
on various issues of importance to the Mutual Fund industry. security standards to match the best of the breed industry
standards- execution of current security strategy is largely as
MF OPERATIONS per target. Our process maturity continues to improve, and it
Given the uncertainty posed by COVID19, markets fell exceeds peer benchmarks and approaching goals.
to multi-year lows before recovering to the highest ever
AUM with volumes also restored. Despite the intensity of CAMS Insurance Business – Insurance penetration in India
pandemic-driven disruptive forces, constant changes in is poised to increase substantially in the current decade as
Regulation and experiencing the highest volumes from is evident from 2019 Insurance Penetration (Premium / GDP
NFOs and redemption/switch transactions in the last quarter ratio) being 3.76% as compared to world avg. of 7.23%. The
(including doubling of transmission cases across units), the India Insurance Density (premium / population) 2019 is low
company delivered a high degree of operational robustness at $ 78 and shows high growth potential when benchmarked
& client satisfaction. Post the lifting of lock down and despite against world average of $ 818. Also, the share of non-life to
opening of all our front offices, only part of pre-COVID total insurance is far higher for the world at approx. 50% as
physical volumes came back. Transactions through digital compared to 25% in India – nonlife sector in India is likely to
and electronic modes continue to be at about 85% of the grow faster. Covid had dented the insurance industry in H1
total inflows. FY21 but it bounced back in the latter half of FY21.
CAMS Insurance Repository Business opens e-Insurance

OTHER INITIATIVES
Accounts for the insured, primarily in life insurance segment
Automation & Risk - Automation was the big focus and is expanding its reach to the non-life & General Insurance
area in 2020-21 and several high impact projects were segment as well. In the technology enabled processing
implemented during the year. The automation roadmap service, it expanded service scope in the persistency
involved challenging and reimagining all current processes business while the Insurance Repository maintained its
by cross-functional stakeholders from Product Management, growth trajectory and has more than 3.3 million digital
Process management, Technology and end-users in-order policies, aided by our social media presence and new digital
to bring about transformational changes. During the year, communication strategy. Although, we went through a major
the Company focused with a lot of success on reducing the disruption due to Covid, the company took care of its clients
overall risk in operating environment by addressing risks on and this was reflected in Client Experience Index moving to
key functions with Automation initiatives. an unprecedented high of 85 (from 77 of the prior year). This
is translating into more business for CAMSRep, especially in
OTHER BUSINESSES persistency and digital B2C services.
CAMS Payment business - (‘CAMSPay’) - Onset of COVID
early in FY21, CAMSPay ACH business impacted significantly CAMS Account Aggregator business - CAMS Financial
in its new business accruals. With moderate drop in existing Information Services Private Limited (‘CAMS FIS’), a
recurring transaction collections, the business could not grow wholly owned subsidiary of the company was awarded the
its volume as expected. MF segment’s slight drop and NBFC account aggregator license by the Reserve Bank of India.
significant drop due to the Pandemic effect, got offset in part The Company has put in place the required infrastructure
by the growth in Insurance segment. The Business, to align and is in discussion with financial institutions and clients for
with market, had to moderate its fee structures. commencing the commercial activities.

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CAMS KRA business - CAMS Investor Services Private the Company also audits the eficiency and security of
Limited (‘CAMS KRA’), a wholly owned subsidiary of the its operations, its information technologies and data, in
company which is registered with Securities and Exchange accordance with the global standards.
Board of India as a KYC Registration Agency and is licensed
for implementation of SEBI’s vision of a harmonized The Company conducts periodic internal audits in line with an
KYC process. audit plan that is drawn at the beginning of the year, which is
approved by the Audit Committee. The scope of the exercise
OPERATIONAL EXCELLENCE includes ensuring adequacy of internal control systems,
During the year despite the Covid Pandemic, all day-to-day adherence to management policies and compliance with the
activities relating to processing of financial transactions were laws and Regulations of the country. The Company’s ERP
performed from day one of the pandemic. During the initial system has appropriate controls embedded in its processes
weeks, CAMS delivered all the critical deliverables. Electronic and systems which has been strengthened from time to time.
& digital modes of transaction continued to function with
support from CAMS. Subsequently, expansion in coverage Internal audit reports are placed before the Audit Committee
of scope to cover all aspects of operations was carried out of the Board of Directors, which reviews the adequacy and
in the successive weeks. The Company gradually expanded effectiveness of the internal control systems and suggests
the basket of services and delivered almost all services improvements for strengthening them.
including critical regulatory and year-end reconciliation Our
branches across the country are open daily except on days DISCUSSION OF FINANCIAL ANALYSIS
when local authorities announced lockdowns. This discussion on Financial Analysis is for consolidated
financials of the Company during 2020-21. The Company
is a technology-driven financial infrastructure and service
provider to mutual funds and other financial institutions.
The FY20-21 numbers are shown on comparable basis for
all statement of Profit and Loss and Balance Sheet items
discussed below.
Highlights of the financial year:

• The Company continues to be debt free.
• FY 20-21 revenue was at Rs. 7,055 million
• FY 20-21 Operating EBITDA was at Rs. 2,727 million
As part of continuous improvement, CAMS has made • FY 19-20 revenue was at Rs. 6,996 million
substantial efforts in enhancing overall quality performance.
• FY 19-20 Operating EBITDA was at Rs. 2,615 million
Accuracy levels of 99.99% in financial transaction processing
was delivered in 2020, achieved with residual error PPM at
109. The low error PPM is consistently achieved despite KEY HIGHLIGHTS FOR FY 20-21
increasing complexities in the processes led by various • ~70% market share with AuM Rs. 22301 Billion*
regulatory & product related changes, fluctuating transaction • Record keeping of ~72.4 million folio accounts **
volumes, stringent timelines for deliverables and heightened
investor demands. • ~ 323 million financial transactions
• ~ Rs.128 trillion processed as Pay-in/Pay-out
INTERNAL CONTROL SYSTEMS AND
ADEQUACY • ~ 6 million investor service requests
The Company has an adequate internal controls system, • ~ 122 million investor and distributor triggered reports
commensurate with the size and nature of its business. The * For March, 2021
system is supported by documented policies, guidelines ** As at March 31, 2021
and procedures to monitor business and operational
performance which are aimed at ensuring business integrity Product Development
and promoting operational efficiency. All the records are The Company is providing services and is not engaged
adequately maintained for preparation of financial statements in any product development. However, as part of its value
and other financial information. Apart from internal controls, offerings the company is developing various digital products/

applications which enable the investors (who are the ultimate Regulator. Non-compliance of any Regulations could result
customers) to experience efficient and effective methods for in observations in the SEBI Audits and can expose CAMS
investments. Mature, market leading platforms developed by to warnings and penalties. This can also result in customer
the Company namely myCAMS and GoCORP continues to dissatisfaction and possible fines. A process has been set
scale new heights and the newest platform for distributors, in place towards moving for real time audit observation for
edge360, is seeing rapid adoption and growing loyalty. remediation through workflow model.
The unique digiInvest platform saw expanded usage by
AMCs and distributors alongside the white-labelled chatbot Compliance Risk
implemented across several AMC websites. digiLoan The Company is required to comply with a host of Regulations
against MF units is a product developed for Banks and as part of its compliance activities. Any default could result in
NBFCs for digital loan against mutual funds facility. This fine and penalties. For addressing the same, the company
facility enables the Bank/NBFC’s customers to get a loan has an extensive system for monitoring compliances with
up to Rs.1 crore by pledging their debt and/or equity mutual individual functional heads tasked with specific areas.
funds in a completely paper-less, digital process. Extensive external experts’ support has been taken for all
areas and these experts have been retained on a regular
RISKS AND CONCERNS basis. Multiple audits are carried out for ensuring these
The Company recognizes that risk is inherent to any compliances and are reported to the Audit Committee/ Board
business activity and that managing risk effectively is critical at its Meetings.
to the immediate and future success of the Company.
The Company has a Risk Management Committee which Technology Risk
monitors the risk related matters of the company. The Inability to meet the demands of the Clients or adapt to latest
Company has a Board Approved Risk Management Policy technological changes might affect the company’s business,
which defines the Risk Management framework to identify, as our success depends upon the development of technology
assess and manage potential risks and opportunities. The platforms and applications to conduct our business. In this
Risk Management Policy provides every level risk guideline regard, steps are being initiated for ensuring adaptation of
encompassing key risk areas across the group such as the latest technology and for meeting the requirements of
Business Risk, Operational Risk, Technology risk, Strategic the clients.
Risk and Reputation risk. The identified risks of the company
are as below: Information Security Risk
As the company deals with large amount of data, the
Operational Risk Information Security risks is one of the identified risk. The
The Company faces risks in its operations for any error Company has an extensive Information Security Management
or omission that could lead to significant monetary and System(“ISMS”) which is headed by a Chief Information
reputational losses. The Company has identified the key Security Officer and has a well-established ISMS policy.
areas where such risks could exist and taken proactive steps The Company’s systems are being periodically audited by
for carrying out Process automation and tighter adherence to external agencies. Bitsight an agency which monitors level of
the established processes. the information security has rated the company very high at
a score of 800. This is a market-leading score and vindicates
Risks relating to Business Continuity Plan(“BCP”) the robust security posture.
Considering the nature of operations, it is essential that
the company is ensuring a Business Continuity Plan which People Risk
will enable it to provide services on a continued basis. The Dependency on Key Managerial Personnel and Senior
risks of failure to ensure BCP is one of the identified risk. Management is considered as a risk and the loss of any key
To mitigate the same the company has an elaborate plan of person and the or inability to attract new talents, reliance on
action and presently an elaborate, full-scope half yearly BCP third party service providers in several areas of operations
drill is being conducted using the infrastructure of the BCP and our inability to have full control over their services would
location and the primary location infrastructure is not used for affect the company’s business. Towards mitigating these
delivering critical processes. risks all the managerial positions have been filled with very
few open positions, retention of KMP through ESOPs and
Regulatory Risk Incentive Programs has been initiated and Efforts are on
The Company is a Qualified Registrar and Transfer to create future Leaders through training, skill certification
Agent(“QRTA”) and is subjected to audits from the and workshops.

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Revenue Concentration The deep domain knowledge of the employees has helped
Significant part of the revenue is concentrated from MF us establish our business leadership and market share. Our
Business. Within MF the revenue is concentrated within employees collaborate with precision and synchronization
the top five clients. Towards this risk, the company is to enable far reaching changes for competitive advantage
focussing on enhancing the Non-MF revenue. Apart from and to keep in tune with the demands of the market. CAMS
management focus on, what Company perceives as high invests in building a diverse and inclusive environment for
growth opportunities like, Insurance Repository, CAMSPay our employees. These employees enable the company
(payment aggregator business) and services to AIF clients to reach out to investors of the Mutual Funds across the
Company has entered into Central Recordkeeping Agency country. The Company’s career development initiatives
services for Pension Funds and Account Aggregator range from up-skilling using structured in-house programs,
business. Leveraging competencies acquired through specialist certifications to sponsorship of courses at premium
Mutual Fund services business, Company has launched management institutions. We assist our employees in
products like Recon Dynamix, LAMF etc. Having said the creating their individual development plans and facilitate
above, Mutual Fund services business is likely to remain the growth through job rotations, internal hiring and promotions.
dominant business in the near to medium period.
Even during the current environment, our employees have
Contractual Risk showcased their dedication and team work to ensure that the
The Company has entered contractual agreements with clients’ requirements are fully met. The business operations
various clients which may contain liability clauses which remains intact and functioning despite the severe dislocation
might adversely affect our business, on the occurrence during the year arising from the nationwide lock down and
of certain events like employee fraud or misconduct or travel restrictions.
errors and omissions in the operations. The Company has
extensive insurance coverage for addressing such liabilities. The Company adopt fair HR practices to empower our
However, the insurance cover may not be adequate to fully people creating a supportive environment. We continue
compensate the loss. to uphold high standards of governance with respect to all
statutory compliance and regulatory requirements. We have
INSURANCE several avenues for our employees to voice their opinion
The Company has taken appropriate insurance policies in a safe and conducive environment. Managers engage
which cover our operations and protect the company from in meaningful dialogues and coach employees to enhance
unexpected exigencies. The policy coverage extends to their performance.
losses arising out of matters including errors and omissions,
Cyber-attacks, third party crime. The Company also has SAFE AND HEALTHY ENVIRONMENT
appropriate policies for covering the Directors and employees The operations of the company do not involve any
of the company. manufacturing and the employees of the company work from
office premises only. We strive to maintain the highest safety
HUMAN RESOURCES standards and periodic fire drills are carried out at various
The well trained and knowledgeable employees are the premises. First aid training is given to group of employees to
major pillars of the company. The Company has a detailed handle any eventuality. Feedback form employees is regularly
recruitment process which focusses on recruiting talented obtained on various health and safety considerations. The
resources and provides continuous on the job training to offices with significant number of employees have either an
them. Our employee strength as at March 31, 2021 was 5,850 in-house medical centre or tie up with leading hospitals for
people which includes 1,278 permanent women employees. providing treatment in case of medical exigencies.

Business Responsibility Report

[Pursuant to Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]
The Company endeavours to conduct its business b) Number of national locations: The Company has a
responsibly, mindful of its social accountability, respecting PAN India Network with 272 locations all over India.
applicable laws and with regard for human dignity. Through
this Business Responsibility Report (‘BRR’), your Company 10. Markets served by the Company
seeks to communicate its obligations and performance to all The Company’s operations are limited to India. The
its stakeholders. Company is the Country’s largest registrar and transfer
agent of mutual funds with an aggregate market share
As a responsible corporate citizen, your Company continues of approximately 69% based on mutual fund average
to actively engage with all its stakeholders to drive their growth assets under management (“AAUM”) managed by our
for all. This report conforms to the Business Responsibility clients as on March 31, 2021, according to the data as
Reporting requirement of the Securities and Exchange Board published by AMFI.
of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 (‘Listing Regulations’). SECTION B: FINANCIAL DETAILS OF THE
COMPANY
SECTION A: GENERAL INFORMATION
1. Paid up Capital: Rs. 48,79,10,380 as on March 31, 2021
ABOUT THE COMPANY
1. Corporate Identification Number (CIN) of the Company: 2. Total Turnover: Rs. 67,375.26 lakhs for the year ended
L65910TN1988PLC015757 March 31, 2021
2. Name of the Company: Computer Age Management 3. Total profit after taxes: During the year, the Company
Services Limited recorded a net profit of Rs. 21,897.28 lakhs for the year
ended March 31, 2021
3. Registered Office: New No.10, Old No.178, M.G.R.
Salai, Nungambakkam, Chennai-600034, Tamil Nadu, 4. Total Spending on Corporate Social Responsibility:
India Rs. 421.36 lakhs for the year ended March 31, 2021
(1.92% of PAT)
4. Website: www.camsonline.com
5. List of activities in which expenditure in 4 above has
5. E-mail id: secretarial@camsonline.com been incurred:
6. FY reported: From April 01, 2020 to March 31, 2021 The areas in which the above expenditure was incurred
inter-alia included Education, Health & Senior Citizen care
7. Product or service category (ITC 4 digit) code: 9983 Infrastructure.
Financial Business Processes Management Services
SECTION C: OTHER DETAILS
8.
List three key products/services that the 1.
Does the Company have any Subsidiary
Company manufactures/provides (as in Company/ Companies?
balance sheet)
The Company has 6 direct and indirect subsidiaries in
We are a financial infrastructure and services provider India and overseas as on March 31, 2021.
operating in seven business verticals: Mutual Funds
Services Business, Electronic Payment Collection 2.
Do the Subsidiary Company/Companies
Services Business, Alternative Investment Fund participate in the BR Initiatives of the parent
Services Business and Banking. company? If yes, then indicate the number of
such subsidiary company(s).
9.
Total number of locations where business
Not Applicable.
activity is undertaken by the Company:
a) Number of international locations (provide details 3. Participation and percentage of participation
of major 5): Nil of other entity/entities (e.g. suppliers and

02-35 37-111 112-230
distributors, among others) that the Company 2. Principle-wise (as per NVGs) BR Policy/
does business with, in the BR initiatives of the Policies
Company. If yes, then indicate the percentage The National Voluntary Guidelines on Social,
of such entity/entities? [Less than 30%, 30- Environmental and Economic Responsibilities of
60%, More than 60%] Business (NVG-SEE) released by the Ministry of
No. Corporate Affairs has adopted nine areas of Business
Responsibility. These are as follows:
SECTION D: BR INFORMATION
P1 - Businesses should conduct and govern themselves
1. Details of Director/Directors responsible for with Ethics, Transparency and Accountability.
BR P2 - Businesses should provide goods and services that
are safe and contribute to sustainability throughout
a)
Details of the Director responsible for the
their life cycle.
implementation of the BR policy/policies P3 - Businesses should promote the well-being of all
DIN Number: 08268864 employees.
P4 - Businesses should respect the interests of, and
Name: Anuj Kumar be responsive towards all stakeholders, especially
those who are disadvantaged, vulnerable and
Designation: Wholetime Director marginalized.
P5 - Businesses should respect and promote human
b) Details of the BR head rights.
S. Particulars Details P6 - Businesses should respect, protect, and make
No. efforts to restore the environment.
P7 - Businesses when engaged in influencing public
1. DIN Number 08268864 and regulatory policy, should do so in a responsible
2. Name Anuj Kumar manner.
3. Designation Wholetime Director P8 - Businesses should support inclusive growth and
equitable development.
4. Telephone 044-61092992
P9 - Businesses should engage with and provide value
number
to their customers and consumers in a responsible
5. Email ID anuj.kumar@camsonline.com manner.
a) Details of compliance (Reply in Y/N)

SN Questions Principles
P1 P2 P3 P4 P5 P6 P7 P8 P9
1 Do you have a policy/ policies for The Company has various policies in place which have been approved either by the
each principle stated in the NVGs? Board or by other appropriate authority in the Management. These policies capture
the essence of the principles of the NVGs. These policies have also been devised
to ensure adherence to all applicable laws and Regulations while considering best
practices in the industry.
2 Has the policy being formulated The policies are framed taking into consideration the interest of the stakeholders. Our
in consultation with the relevant policies adhere to the guidelines/ Rules issued by the Ministry of Corporate Affairs
stakeholders? & other Regulators. The policies are shared with the stakeholders if the same is
mandated.
3 Does the policy conform to any The policies conform to the regulatory requirements where such Regulations exist. No
national/ international standards? If specific national or international standards are applicable for the policies framed. The
yes, specify? policies relating to Information Security Management system adhere to the standards
of ISO/IEC 27001:2013. The policies relating to Quality Management adhere to the
standards of ISO 9001:2015.
4 Has the policy being approved by The policies wherever mandated to be approved by the Board have been under the
the Board? If yes, has it been signed applicable laws/Regulations are duly approved by the Board. Other policies have
by MD/ owner/ CEO/ appropriate been approved by the appropriate authorities.
Board Director?
5 Does the company have a The Board, its committees and the senior management team reviews the
specified committee of the Board/ implementation of policies on a regular basis.
Director/ Official to oversee the
implementation of the policy?
6 Indicate the link for the policy to be The policies which require hosting in the website have been hosted in the Company’s
viewed online? website - www.camsonline.com

SN Questions Principles
P1 P2 P3 P4 P5 P6 P7 P8 P9
7 Has the policy been formally Yes. To enable dissemination the policies are hosted in the intranet or in the website
communicated to all relevant of the company.
internal and external stakeholders?
8 Does the company have in-house Yes. The policies are reviewed and revised at specified periodicity by the senior
structure to implement the policy/ Management or the approving authority.
policies?
9 Does the Company have a The Company has a whistle blower mechanism which can be used by the stakeholders
grievance redressal mechanism for highlighting their grievances. The Company also has specific mail id for receiving
related to the policy/ policies to the complaints from the shareholders.
address stakeholders’ grievances
related to the policy/ policies?
10 Has the company carried out The Company carries out external auditors from time to time in accordance with the
independent audit/ evaluation of the regulatory and statutory requirement. However, specific independent audit on the
working of this policy by an internal NVG principles has not yet been carried out.
or external agency?
Link for Policies

Code of Conduct https://www.camsonline.com/about-cams/shareholder-relations/policies
Corporate Social Responsibility https://www.camsonline.com/about-cams/shareholder-relations/policies
Vigil Mechanism Policy / Whistle https://www.camsonline.com/about-cams/shareholder-relations/policies
Blower Policy
b) If answer to S. No. 1 against any principle, is ‘No’, please explain why: (Tick up to 2 options)
Not Applicable
3. Governance related to BR SECTION E - PRINCIPLE-WISE

● Indicate the frequency with which the Board of PERFORMANCE
Directors, Committee of the Board or CEO to Principle 1: Businesses should conduct and
assess the BR performance of the Company. govern themselves with Ethics, Transparency and
Within 3 months, 3-6 months, Annually, More than Accountability
1 year:
1. Does the policy relating to ethics, bribery and
corruption cover only the company? Yes/ No. Does
The Board of Directors, its Committees meet
it extend to the Group/ Joint Ventures/ Suppliers/
periodically for assessing the performance of the
Contractors/ NGOs/ Others?
company on various aspects which also includes
BR Performance to the extent applicable. In The Company has a defined Code of Conduct. This Code
addition to the above CEO meets the stakeholders covers the Company and is applicable to all Directors,
on a periodical basis for a similar review. The Senior Management including all functional heads,
meetings happen on a quarterly basis. management personnel and employees. The Company
also has a policy on Anti-Corruption and Bribery. These
● Does the Company publish a BR or a Sustainability documents serve as a roadmap to all Directors and
Report? What is the hyperlink for viewing this employees of the Company across all levels and grades
report? How frequently it is published? for conducting business in accordance with the highest
standards of business ethics and complying with
This is the first Business Responsibility (BR) applicable laws, Rules and Regulations. The Company
Report published by the Company. The BR Report has adequate control measures in place to address
the issues in the context of these policies. All the
forms part of Annual Report of the Company and
vendors are required to execute a vendor code of
may also be accessed on the Company’s website:
conduct which covers various aspects relating to ethics
www.camsonline.com
bribery and corruption.

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2. How many stakeholder complaints have been b. Reduction during usage by consumers
received in the past FY and what percentage was (energy, water) has been achieved since the
satisfactorily resolved by the management? If so, previous year?
provide details thereof, in about 50 words or so.
Not applicable
The Company is a Service provider for Mutual Funds
and as part of its services receives complaints from 3. Does the company have procedures in place for
stakeholders which is addressed by it on a regular sustainable sourcing (including transportation)? If
basis. The details of the complaint are also filed with the yes, what percentage of your inputs was sourced
regulator as part of periodical filing. During the year 2020- sustainably? Also, provide details thereof, in about
21, all the complaints have been satisfactorily resolved. 50 words or so.
Not applicable since the company is not producing any
The Company has appointed Link Intime India Private
product and is only a service provider.
Limited as its Registrar and Transfer Agent in relation
to the activities relating to the services relating to its
4. Has the company taken any steps to procure goods
shareholders. The complaints received from the RTA
and services from local & small producers, including
and the company are resolved from time to time. During
communities surrounding their place of work? If
the year 20-21 total of 1,027 complaints were received
yes, what steps have been taken to improve their
which have been resolved fully and most of them
capacity and capability of local and small vendors?
pertain to IPO refunds. For this purpose, we have not
included the complaintss which are made to the AMCs Procurement of goods not applicable in view of the
and repeated complaints. nature of business carried out. However, the company
provides opportunity for small start-ups to participate in
Principle 2: Businesses should provide goods its operations through off site locations situated across
and services that are safe and contribute to the country.
sustainability throughout their life cycle
The Main activity of the company is providing services 5. Does the company have a mechanism to recycle
to Mutual Funds and is not engaged in designing of any products and waste? If yes what is the percentage
products. As part of its CSR initiatives, it provides awareness of recycling of products and waste (separately as
to the investors about various investment products and safe <5%, 5-10%, >10%). Also, provide details thereof, in
investment practices. As part of its activities the company about 50 words or so.
provides various digital platforms to carry out investment Not applicable
related transactions. These platforms are designed taking
into account the rights of the investors. Principle 3: Businesses should promote the
wellbeing of all employees
1. List up to 3 of your products or services whose 1. Please indicate the Total number of employees:
design has incorporated social or environmental 5,850 employees including the employees hired on
concerns, risks and/or opportunities. temporary/contractual/casual basis
The Company is not producing any products. It focusses
on providing the services on a digital platform and in 2. Please indicate the Total number of employees
a paperless mode which significantly reduces the use hired on temporary/contractual/casual basis: 1,956
of paper which is environmental friendly. The online employees hired on temporary/contractual/casual basis
facilities to the stakeholders amidst pandemic was
considered as an activity addressing social concerns. 3. Please indicate the Number of permanent women
employees: 1,278 employees are permanent women
2. For each such product, provide the following employees
details in respect of resource use (energy, water,
raw material etc.) per unit of product(optional): 4. Please indicate the Number of permanent employees
with disabilities: 16 employees are permanent
a. Reduction during sourcing/production/
employees with disabilities
distribution achieved since the previous year
throughout the value chain? 5. Do you have an employee association that is
Not applicable recognized by management: No

6. What percentage of your permanent employees is Principle 5: Businesses should respect and
members of this recognized employee association? promote Human Rights
Not Applicable 1. Does the policy of the company on human rights
cover only the company or extend to the Group/ Joint
7. Please indicate the Number of complaints relating Ventures/ Suppliers/ Contractors/ NGOs/ Others?
to child labour, forced labour, involuntary labour,
sexual harassment in the last FY and pending, as The Policy covers the Company and its service providers.
on the end of the FY.
2. How many stakeholder complaints have been
There were no complaints during the year/outstanding received in the past FY and what percent was
at the end of the financial year in respect of Child labour/ satisfactorily resolved by the management?
forced labour/ involuntary labour, Sexual harassment
and Discriminatory employment. There were no complaints during the year/outstanding
at the end of the financial year.
8. What percentage of your undermentioned
employees were given safety & skill up-gradation Principle 6: Business should respect, protect, and
training in the last year? make efforts to restore the environment
1. Does the policy related to Principle 6 cover only the
Training is provided for all employees based on the
company or extends to the Group/Joint Ventures/
nature of their activities and it is a continuos activity.
Suppliers/Contractors/NGOs/others?
The training may be either virtual or classroom based.
The Company is engaged in Information Technology
Principle 4: Businesses should respect the interests Enabled Services and is not engaged in manufacturing
of, and be responsive towards all stakeholders, activities. Hence the relevance of this principle is
especially those who are disadvantaged, vulnerable negligible. However, the company understands
and marginalized its responsibility to operate in an environmentally
1. Has the company mapped its internal and external sustainable and by developing, promoting and
stakeholders: Yes implementing eco-friendly services.
2. Out of the above, has the company identified 2. Does the company have strategies/ initiatives
the disadvantaged, vulnerable & marginalized to address global environmental issues such as
stakeholders. Yes climate change, global warming, etc? Y/N. If yes,
please give hyperlink for webpage etc.
3. Are there any special initiatives taken by the The Company has been focussing on providing digital
company to engage with the disadvantaged, services in the areas in which it operates. The green
vulnerable and marginalized stakeholders? If so, initiatives taken by it has significantly reduced the
provide details thereof, in about 50 words or so. printing of statements and other communications. The
The beneficiaries of its CSR activities are considered volume of paper transactions has come down to ~22%
as an external stakeholder. Its activities are focussed as compared to ~65% in the previous three financial
towards the following segments of the society. years. All its energy consuming equipments have been
replaced with energy efficient devices
- Children deprived of education due to lower
income 3. Does the company identify and assess potential
- Senior Citizens who do not have children/relatives environmental risks? Y/N
looking for support This has no relevance considering the nature of the
company’s business.
- Community in rural and sub-urban areas looking
for Medical support
4. Does the company have any project related to Clean
- Women self-help groups looking for entrepreneurial Development Mechanism? If so, provide details
skills thereof, in about 50 words or so. Also, if Yes, whether
any environmental compliance report is filed?

02-35 37-111 112-230
The Company is not a manufacturing organisation and Principle 8: Businesses should support inclusive
does not generate waste or products or by products growth and equitable development
generally associated with manufacturing. 1. Does the company have specified programmes/
initiatives/projects in pursuit of the policy related to
5. Has the company undertaken any other initiatives Principle 8? If yes details thereof.
on – clean technology, energy efficiency, renewable
energy, etc. Y/N. If yes, please give hyperlink for The CSR Policy and activities of the company is
web page etc. focussed on ensuring inclusive growth and equitable
development.
The offices of the company are well optimised for
conservation of energy. All equipments including Lights 2. Are the programmes/projects undertaken through
and Air conditioners are ensured for energy efficiency in-house team/ own foundation/ external NGO/
and minimal wastage. government structures/ any other organization?
6. Are the Emissions/Waste generated by the company The activities are carried out predominantly through
within the permissible limits given by CPCB/SPCB external NGOs specialised in the specific area of
for the FY being reported? activity.
Not applicable 3. Have you done any impact assessment of your

initiative?
7. Number of show cause/ legal notices received from
CPCB/SPCB which are pending (i.e. not resolved to The Company carried out an impact assessment
satisfaction) as on end of FY. through an external agency on a voluntary basis which
is reviewed by the CSR committee.
Nil
4. What is your company’s direct contribution to
Principle 7: Businesses, when engaged in community development projects- Amount in
influencing public and regulatory policy, should do Rs. and the details of the projects undertaken?
so in a responsible manner
The amount contributed for the community development
1. Is your company a member of any trade and
projects is Rs. 4.21 crores.
chamber or association? If Yes, Name only those
major ones that your business deals with:
Details of the project undertaken has been provided
The Company is a member of various trade bodies as part of the Boards report forming part of this annual
including Madras Management Association, National Report.
Association of Software and Services Companies
(NASSCOM), Madras Chamber of Commerce and 5. Have you taken steps to ensure that this community
Industry, Registrars Association of India (RAIN). development initiative is successfully adopted by
the community? Please explain in 50 words, or so.
2. Have you advocated/lobbied through above
The Company takes effective steps for ensuring that
associations for the advancement or improvement
the community development initiatives are successfully
of public good? Yes/No; if yes specify the broad
adopted by the community. The following steps forms
areas (drop box: Governance and Administration,
part of all the CSR projects for achieving the above.
Economic Reforms, Inclusive Development Policies,
Energy security, Water, Food Security, Sustainable
- Projects are chosen after considering its relevance
Business Principles, Others)
to the specific community.
The Company collaborates with the above entities
and regulators as applicable to bring in more - identifies CSR partners have established local
standardisation, simplification of processes, reduction connect with the community to meet their
in the delivery timelines etc. which will be improvement requirement.
for its customers and the public.

- Periodical visits and interventions are made 2. Does the company display product information
to ensure the adaptation of the project by on the product label, over and above what is
the community. mandated as per local laws? Yes/No/N.A. /Remarks
(additional information)
An exhaustive third party validation of the adoptation
and the impact is carried out. Not applicable. The services provided are detailed in the
website in a separate Section exclusively maintained for
Principle 9: Businesses should engage with and the customers/investors.
provide value to their customers and consumers
in a responsible manner 3. Is there any case filed by any stakeholder against
1. What percentage of customer complaints/consumer the company regarding unfair trade practices,
cases are pending as on the end of FY? irresponsible advertising and/or anti-competitive
behaviour during the last five years and pending as
The Company provides services to the investors of on end of FY. If so, provide details thereof, in about
various mutual funds. In exceptional cases disputes are 50 words or so.
raised before the courts/consumer forums in respect
of family disputes in which the company is included No such cases have been filed.
as a responding party. Details of the complaints and
the outstanding cases are as on March 31, 2021 is 4. Did your company carry out any consumer survey/
as follows: consumer satisfaction trends?
Year Outstanding Outstanding consumer Yes. As mandated by the Regulator a customer

Complaints cases
satisfaction survey is carried out and the details are
2020-21 0 6 displayed in the website of the company.

02-35 37-111 112-230
DIVIDEND DISTRIBUTION POLICY
OBJECTIVE:
The objective of this policy is to lay down the criteria to be considered by the board of directors of the Company before
recommending dividend to its shareholders for a financial year. Dividend for the purpose of this Policy includes Interim Dividend.
CRITERIA TO BE CONSIDERED BEFORE RECOMMENDING DIVIDEND:

The board of the Company shall consider the following factors before recommending dividend:
Statutory and regulatory compliance:

The Company shall declare dividend only after ensuring compliance with the applicable regulatory requirements of the
Company. Policy recognizes that the Business of the Company is regulated, and the Company shall at all times comply with
extant regulations and other applicable Law in conducting its Business and this Policy shall not constrain the Company in any
manner in adhering to any regulatory requirements or framework prescribed by Law.
Financial criteria:
• For dividend (except for interim dividend), out of profits of the Company for a financial year in the manner as provided
under Section 123(1) of the Companies Act, 2013
• For any interim dividend, out of profits in the manner as provided under Section 123(3) of the Companies Act, 2013
Dividend pay-out:
The Company shall endeavour to, subject to applicable law, declare and distribute a dividend (including dividend distribution
and other taxes, cess, levies, if any relating to the dividend) of 65% (sixty five percent) of the consolidated profit, net of tax, of
the Company for the relevant financial year subject to availability of cash and equivalents and after taking into consideration
capital expenditure and working capital requirements. (“Target Pay-out”)
It is hereby clarified that any declaration of dividend for this purpose shall be calculated inclusive of dividend distribution tax
and other taxes, cess, levies, if any related to the dividend, for such relevant financial year.
Currently, the Company does not have any other class of shares (including shares with differential voting rights) other than
equity shares. In the absence of any other class of shares and/or shares with differential voting rights, the entire distributable
profit for the purpose of declaration of dividend is considered for the equity shareholders.
Amendments / modifications:
To the extent any change/amendment is required in terms of any applicable law, the law would prevail over this Dividend
Distribution Policy and the provisions in this Dividend Distribution Policy would be modified in due course to make it consistent
with law. Such amended policy shall be placed before the Board for approval.

Independent Auditor’s Report

To the Members of Computer Age Management Services Limited,
Report on the Audit of the Standalone Financial Statements
1. Opinion
We have audited the Ind AS financial statements of Computer Age Management Services Limited (“the Company”), which
comprise the Balance Sheet as at 31st March 2021, and the statement of Profit and Loss (including other comprehensive
income), statement of changes in Equity and statement of Cash Flows for the year then ended, and notes to the Ind AS
Financial Statements, including a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Ind AS
Financial Statements give the information required by the Act in the manner so required and give a true and fair view in
conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March
31, 2021, and Profit, changes in Equity and its Cash Flows for the year ended on that date.
2. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the
Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities
for the Audit of the Ind AS Financial Statements section of our report. We are independent of the Company in accordance
with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements
that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules
thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code
of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
3. Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
financial statements of the current period. These matters were addressed in the context of our audit of the Ind AS
Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these
matters. We have determined the matters described below to be the key audit matters to be communicated in our report.
S. Key Audit Matter Our audit procedures related to Key Audit Matter
No.
1 Revenue recognition • valuating the design of controls and operating
E
effectiveness of the relevant key controls with respect to
The Company generates revenue primarily from data revenue recognition;
processing services, customer care services and other allied
services to its customers. • valuated the appropriateness of recognition of revenue
E
based on the requirements of Ind AS 115.
Revenue is the most significant account in the Statement of
Profit and Loss. • erforming substantive testing on samples selected for
P
Revenue is recognised in accordance with the agreed terms revenue transactions recorded during the year by verifying
and conditions of the contract with the respective customers the underlying documentation/ records;
and when it meets the recognition criteria as per Ind AS 115 on
• esting and evaluating the general information technology
T
“Revenue from contracts with customers”.
controls and key application controls surrounding revenue
i) he revenue recognition process of the Company is
T recognition;
dependent on complex information technology systems.
• esting on a sample basis, specific revenue transactions
T
ii) There exists a risk of revenue not being recognised: recorded before and after the financial year end date to
check revenue recognition in the correct financial period;
a) in proportion to the service performed by the and
company
• arrying out year on year variance analysis on revenue
C
b) n a basis which is inconsistent with the contractual
o recognised during the year to identify unusual variance.
terms agreed with the client.

02-35 37-111 112-230
No.
c) In a correct period. • nquired with the key managerial personnel and
E
executives of the company on the significant matters
d) considering price revisions/discounts agreed.
relating to revenue recognition.
Hence, we consider this as a Key Audit Matter.
• valuated the adequacy of disclosures relating to the
E
Total revenue recognized during the year 2020-21 is Revenue recognition in the financial statements.
Rs. 67,375.26 lakhs- Refer Note No.19 of the standalone
financial statements.
4. Emphasis of Matter
We draw attention to Note No.40 of the financial statements wherein the Company has disclosed its Assessment of the
Covid-19 pandemic. As mentioned therein, the assessment of the Management does not indicate any material effect on
the carrying value of its assets and liabilities of the Company on the reporting date or any adverse change in the ability of
the Company to continue as a Going Concern. The assessment of the Management is dependent on the circumstances
as they evolve considering the uncertainties prevailing in the economic situation.
Our opinion is not modified in respect of this matter.
5. Information Other than the Financial Statements and Auditor’s Report Thereon
The Company’s Board of Directors are responsible for the preparation of the other information. The other information
comprises the information included in the Management Discussion and Analysis, Board’s Report including Annexures to
Board’s Report, Business Responsibility Report, Corporate Governance Report and Shareholder’s Information, but does
not include the Ind AS financial statements and our auditor’s report thereon.
Our opinion on the Ind AS Financial Statements does not cover the other information and we do not express any form of
assurance conclusion thereon.
In connection with our audit of the Ind AS Financial Statements, our responsibility is to read the other information and, in
doing so, consider whether the other information is materially inconsistent with the Ind AS Financial Statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we
are required to report that fact. We have nothing to report in this regard.
6. Responsibility of Management for Standalone Financial Statements

The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (“the
Act”) with respect to the preparation of these Ind AS Financial Statements that give a true and fair view of the financial
position, financial performance, changes in equity and cash flows of the Company in accordance with the accounting
principles generally accepted in India, including the Indian Accounting Standards specified under section 133 of the Act.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act
for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection
and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent;
and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the
financial statements that give a true and fair view and are free from material misstatements, whether due to fraud or error.
In preparing the Ind AS Financial Statements, management is responsible for assessing the Company’s ability to continue
as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of
accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
Those Board of Directors are also responsible for overseeing the company’s financial reporting process.

7. Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the Ind AS Financial Statements as a whole are free
from material misstatements, whether due to fraud or error, and to issue an auditor’s report that includes our opinion.
Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs
will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of
users taken on the basis of these Ind AS Financial Statements.
As part of an audit in accordance with Standards on Auditing, we exercise professional judgment and maintain professional
skepticism throughout the audit. We also:
a) Identify and assess the risks of material misstatements of the Ind AS Financial Statements, whether due to fraud
or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient
and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
b) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for
expressing our opinion on whether the company has adequate internal financial controls system in place and the
operating effectiveness of such controls.
c) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
d) Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the related disclosures in the financial statements
or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence
obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to
cease to continue as a going concern.
e) Evaluate the overall presentation, structure and content of the financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieves
fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during
our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be
thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the Standalone Ind AS financial statements of the current period and are therefore the key audit
matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the
matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report
because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of
such communication.

02-35 37-111 112-230
8. Report on Other Legal and Regulatory Requirements

i) As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government of
India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the “Annexure A” to this
report a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
ii) As required by Section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and
belief were necessary for the purposes of our audit.
b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears
from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss, and the Cash Flow Statement dealt with by this Report
are in agreement with the books of account.
d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified
under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
e) On the basis of the written representations received from the directors as on 31st March, 2021 taken on record
by the Board of Directors, none of the directors is disqualified as on 31st March, 2021 from being appointed as
a director in terms of Section 164 (2) of the Act.
f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the
operating effectiveness of such controls, refer to our separate Report in “Annexure B”.
g) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of
section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the remuneration
paid by the Company to its directors during the year is in accordance with the provisions of section 197 of
the Act.
h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the
Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to
the explanations given to us:
(i) The Company has disclosed the impact of pending litigations on its financial position in its financial
statements – Refer note 39 to the financial statements
(ii) The Company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses.
(iii) The Company is not required to transfer any amounts to the Investor Education and Protection Fund.
For Brahmayya & Co.,

Chartered Accountants
Firm Regn. No.000511S
Sd/-
P. Babu
Partner
Place: Chennai. Membership No.203358
Date: May 25, 2021 UDIN: 21203358AAAAJA7400

“Annexure - A” to the Auditors’ Report

Referred to in Paragraph 8 of Our Report of Even Date
(i) (a) T
he Company is maintaining proper records showing full particulars, including quantitative details and situation of
fixed assets.
(b) Fixed assets have been physically verified by the Management during the year, in accordance with an annual plan
of verification, which in our opinion is reasonable having regard to the size of the Company and the nature of the
fixed assets. The discrepancies noticed on such verification were not material and have been properly dealt with in
the books of account.
(c) The Title deeds of immovable properties owned by the company are held in the name of the Company.
(ii) According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured,
to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under Section 189
of the Companies Act, 2013. Accordingly, reporting under clauses 3 (iii) (a), (b) and (c) of the Order does not arise.
(iii) In our opinion and according to the information and explanations given to us, the Company has not advanced any loan,
given any guarantee or provided any security to the parties covered under Section 185 and the Company has not given
any loan or made any investment covered under section 186 of the Companies Act, 2013. Accordingly, reporting under
clause 3 (iv) of the Order does not arise.
(iv) The Company has not accepted public deposits. Accordingly, reporting under clause 3(v) of the Order does not arise.
(v) The Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Act. Accordingly,
reporting under clause 3(vi) of the Order does not arise.
(vi) (a) T
he Company is regular in depositing undisputed statutory dues including provident fund, employees’ state insurance,
income tax, Goods and Service tax and other statutory dues applicable to it during the year with appropriate
authorities. According to the information and explanations given to us, there were no undisputed amounts payable in
respect of provident fund, employees’ state insurance, income-tax, Goods and Service tax and other statutory dues
outstanding as at 31st March, 2021 for a period of more than six months from the date they became payable.
(b) In our opinion and according to the information and explanations given to us, there are no dues of income tax and
Goods and Service tax which have not been deposited on account of any dispute. The dues in respect of Service
tax which have not been deposited on account of dispute are as follows:
Nature of Dues Amount Period to which the amount Forum where the dispute is
(Rs.) in Lakhs relates pending
Service tax 364.21 2013-14 CESTAT
(vii) According to the records of the Company examined by us and the information and explanations given to us, the Company
does not have any borrowings from banks, financial institutions, government or by issue of debentures.
(viii) The Company did not raise any money by way of initial public offer or further public offer (including debt instruments) or
by way of term loans.
(ix) To the best of our knowledge and belief and according to the information and explanations given to us, no fraud by the
Company or on the Company by its officers or employees were noticed or reported during the course of our audit.
(x) The Company has paid/provided for managerial remuneration within the limits of Section 197 read with Schedule V to
the Act.

02-35 37-111 112-230
(xi) According to the information and explanations given to us and based on our examination of the records of the Company,
all transactions with the related parties are in compliance with sections 177 and 188 of the Act where applicable and
details of such transactions have been disclosed in the Ind AS financial statements as required by the applicable
accounting standards.
(xii) According to the information and explanations given to us and based on our examination of the records of the Company,
the Company has not made any preferential allotment or private placement of shares or fully or partly convertible
debentures during the year.
(xiii) According to the information and explanations given to us and based on our examination of the records of the Company,
the Company has not entered into non-cash transactions with directors or persons connected with them.
(xiv) In our opinion and according to the information and explanations given to us, the nature of the Company’s business/
activities during the year has been such that clause (ii) and clause (xii),clause (xvi) of paragraph 3 of the Companies
(Auditor’s Report) Order, 2016 is not applicable to the Company for the year.

Sd/-
P. Babu
Partner

“Annexure - B” to the Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the
Companies Act, 2013 (“the Act”)
We have audited the internal financial controls over financial reporting of Computer Age Management Services Limited
(“the Company”) as of 31 March 2021 in conjunction with our audit of the Ind AS financial statements of the Company for the
year ended on that date.
Management’s Responsibility for Internal Financial Controls

The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal
control over financial reporting criteria established by the Company considering the essential components of internal control
stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (“the Guidance Note”) issued
by the Institute of Chartered Accountants of India (‘ICAI’). These responsibilities include the design, implementation and
maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct
of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of
frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial
information, as required under the Companies Act, 2013 (“the Act”).
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting based on our
audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section
143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an
audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and
the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable
assurance about whether adequate internal financial controls over financial reporting was established and maintained and if
such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system
over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the
Ind AS financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on
the Company’s internal financial controls system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. A company’s internal financial control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made only in accordance with authorisations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised
acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

02-35 37-111 112-230
Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or
improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk
that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting
and such internal financial controls over financial reporting were operating effectively as at 31 March 2021, based on the
internal control over financial reporting criteria established by the Company considering the essential components of internal
control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of
Chartered Accountants of India.

Sd/-
P. Babu
Partner

Standalone Balance Sheet

as at March 31, 2021
Particulars Note As at As at
No. March 31, 2021 March 31, 2020
In Rs. Lakhs In Rs. Lakhs
A ASSETS
1 Non-current assets
Property, plant and equipment 4 6,421.17 6,398.16
Right to use assets 4 6,809.36 8,308.05
Intangible assets 4 1,122.47 1,074.72
Financial Assets
- Investments 5 22,641.42 19,941.65
- Loans & Advances 7 898.82 1,008.33
- Other financial assets 8 - 20.00
Deferred tax assets (net) 25 954.15 747.80
Other non-current assets 12 296.98 28.93
Total Non-Current Assets 39,144.36 37,527.64
2 Current assets
Financial Assets
- Investments 5 13,582.68 19,754.63
- Trade Receivables 6 2,414.49 2,624.02
- Cash and Cash Equivalents 9 1,408.03 2,050.31
- Bank Balances other than Cash and Cash Equivalents 10 12,801.72 1,893.77
- Loans and Advances 7 401.15 57.02
- Other Financial Assets 8 233.51 564.22
Current Tax Assets (Net) 11 616.21 1,086.38
Other Current Assets 12 7,160.24 5,981.90
Total Current Assets 38,618.03 34,012.25
TOTAL ASSETS 77,762.39 71,539.89
B EQUITY AND LIABILITIES
1 Equity
Share Capital 13 4,879.10 4,876.00
Other Equity 14 42,091.89 44,032.62
Total Equity 46,970.99 48,908.62
2 Non-current liabilities
Financial Liabilities
- Other Financial Liabilities 16 6,135.16 6,427.30
Provisions 18 7,063.78 6,908.20
Total Non-Current Liabilities 13,198.94 13,335.50
3 Current liabilities
- Trade Payables
- Dues to MSME 15 28.16 67.93
- Dues to Others 15 5,173.78 3,590.45
Other Current Liabilities 17 3,267.57 2,619.76
Provisions 18 1,233.59 886.77
Total Current Liabilities 17,592.46 9,295.78
Total Liabilities 30,791.40 22,631.27
Total Equity and Liabilities 77,762.39 71,539.89
See accompanying notes forming part of the financial statements
In terms of our report attached.

For Brahmayya & Co For and on behalf of the Board of Directors
Registration No : 000511S
Sd/- Sd/- Sd/- Sd/-

P. Babu Dinesh Kumar Mehrotra Natarajan Srinivasan Anuj Kumar
Partner Chairman Director CEO & Director
Membership No : 203358 DIN NO : 00142711 DIN NO : 00123338 DIN NO : 08268864
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M. Somasundaram G.Manikandan
Chief Financial Officer Company Secretary
Date : May 25, 2021 Date : May 25, 2021

Place : Chennai Place : Chennai

02-35 37-111 112-230
Standalone Statement of Profit and Loss

for the year ended March 31, 2021
Particulars Note 2020-21 2019-20
No. In Rs. Lakhs In Rs. Lakhs
I Revenue from operations 19 67,375.26 66,145.81
II Other income 20 5,860.40 1,950.79
III Total revenue 73,235.66 68,096.60
IV Expenses
Employee benefits expense 21 21,706.04 20,972.00
Finance costs 22 706.39 804.94
Depreciation and amortisation expense 4 3,938.86 4,594.10
Operating expenses 23 12,578.30 13,080.49
Other expenses 24 6,305.51 6,118.16
Total expenses 45,235.11 45,569.69
V Profit before tax 28,000.55 22,526.91
VI Tax expense / (benefit): 25
Current tax 6,309.62 5,825.88
Deferred tax (206.35) 293.71
Net tax expense / (benefit) 6,103.27 6,119.59
VII Profit for the year 21,897.28 16,407.32
VIII Other Comprehensive Income
Items that will not be reclassified to Profit or Loss
- Remeasurements of the defined benefit liabilities / asset 46.37 (82.13)
Income tax relating to items that will not be reclassified to profit or loss (11.67) 20.67
Total Other Comprehensive Income / (Loss) 34.70 (61.46)
IX Total Comprehensive Income 21,931.98 16,345.86
X Earnings per share: 27
(a) Basic 44.89 33.65
(b) Diluted 44.72 33.63

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Date : May 25, 2021 Date : May 25, 2021


Standalone Cash Flow Statement

For the Year Ended March 31, 2021
Particulars 2020-21 2019-20
A. Cash flow from operating activities
Profit / (Loss) before tax 28,000.55 22,526.91
Adjustments for:
Depreciation and amortisation expense 3,938.86 4,594.10
Remeasurements on defined benefit obligation and ESOP reserve in 171.12 (82.13)
respect of subsidairies
(Profit) / loss on sale / write off of assets 66.72 20.73
Expense on employee stock option scheme 743.13 304.45
Finance costs 706.39 804.94
Interest on disputed taxes 22.91 23.03
Interest income (187.53) (94.85)
Dividend income (3,853.82) (710.03)
Net (gain) / loss on sale of investments (1,537.67) (1,084.09)
Adjustments to the carrying amount of investments 173.72 291.08
Net of Expected Credit loss allowance for trade receivables and 197.56 0.21
advances
Liabilities / provisions no longer required written back (108.40) (71.85)
Gain / Loss on Termination of lease contract (111.42) -
Operating profit / (loss) before working capital changes 28,222.11 26,522.50
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Trade Receivables 128.08 (762.95)
Other Non-Current Assets (268.05) (99.96)
Other Current Financial Assets 415.96 (557.39)
Other Non Current Financial Assets - (20.00)
Other Current Assets (1,178.35) 764.18
Loans given - security deposit placed & staff loan (335.60) (16.61)
Change in Money held in trust (317.07) 1,159.64
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables 1,739.92 275.27
Provisions 502.39 (553.36)
Other Current Liabilities 647.81 (1,389.59)
Cash generated from operations 29,557.20 25,321.73
Net income tax (paid) / refunds (5,874.03) (7,327.87)
Net cash flow from / (used in) operating activities (A) 23,683.17 17,993.86
B. Cash flow from investing activities

Capital expenditure of PPE and Intangible assets (2,374.05) (1,443.20)
Proceeds from sale of PPE and Intangible assets 17.47 17.39
Bank deposits including margin money (3,849.02) 28.04
Net Sale / Purchase of current & non-current investments 7,536.13 (5,210.64)
Investment in subsidiaries (2,699.99) (1,408.99)
Interest received 30.94 109.83
Dividend received 3,853.82 710.03
Net cash flow from / (used in) investing activities (B) 2,515.30 (7,197.54)

02-35 37-111 112-230
Standalone Cash Flow Statement

C. Cash flow from financing activities
Proceeds from issue of equity shares under ESOP scheme 190.79 -
Principal towards lease liabilities (1,396.89) (1,262.46)
Interest towards lease liabilities (706.39) (804.94)
Dividends appropriated (including tax on dividend) (24,928.26) (7,015.59)
Net cash flow from / (used in) financing activities (C) (26,840.75) (9,082.99)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) (642.28) 1,713.33
Cash and cash equivalents at the beginning of the year 2,050.31 336.98
Cash and cash equivalents at the end of the year 1,408.03 2,050.31

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Date : May 25, 2021 Date : May 25, 2021


Standalone Statement of changes in Equity

Statement of changes in Equity For the Year Ended March 31, 2021
Particulars Reserves & Surplus Total
Equity Employee Retained General Securities Other
Share Stock earnings reserve premium Comprehensive
Capital Option reserve income
reserve
Balance at the beginning of the year 4,876.00 362.10 33,424.52 11,035.43 - (789.43) 48,908.62
Increase in share capital on account 3.10 - - - 294.96 - 298.06
of exercise of ESOP scheme*
Amount transferred to Securities - (107.28) - - - - (107.28)
premium from ESOP reserve due to
exercise of ESOP scheme
Remeasurement of Net Benefit - - - - - 34.70 34.70
liability / Asset Net of tax
Dividends - - (24,928.26) - - - (24,928.26)
Profit for the year - - 21,897.28 - - - 21,897.28
ESOP Amortisation for the year - 867.87 - - - - 867.88
Balance at the end of the year 4,879.10 1,122.69 30,393.54 11,035.43 294.96 (754.73) 46,971.01
* Rs. 107.28 lacs pertains to an adjustment from ESOP reserve and balance amounting to Rs. 187.68 lacs is realised in cash
Statement of changes in Equity For the Year Ended March 31, 2020
Equity Employee Retained General Securities Other
Share Stock earnings reserve premium Comprehensive
Capital Option reserve income
reserve
Balance at the beginning of the year 4,876.00 - 24,032.79 11,035.43 - (727.97) 39,216.25
Remeasurement of Net Benefit - - - - - (61.46) (61.46)
Dividends ( Including Dividend Tax ) - - (7,015.59) - - - (7,015.59)
Profit for the year - 16,407.32 - - - 16,407.32
ESOP Amortisation for the year - 362.10 - - - - 362.10
Balance at the end of the year 4,876.00 362.10 33,424.52 11,035.43 - (789.43) 48,908.62

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Date : May 25, 2021 Date : May 25, 2021


02-35 37-111 112-230
Basis of preparation and significant accounting policies
1. Reporting entity C. Basis of measurement

Computer Age Management Services Limited (‘CAMS’ The financial statements have been prepared on the
or ‘Company’) is India’s largest Mutual Fund Transfer historical cost basis except for the following assets and
Agency serving over 69% of assets of the Indian liabilities which have been measured at fair value:
mutual fund industry. As an integral part of the India’s
financial infrastructure, CAMS has built a reputation as (i) Certain financial assets and liabilities,
the leading Transfer Agency to the Asset Management
Industry of India and technology enabled service (ii) Net defined benefit asset / (liability) and
solutions partner to Private Equity Funds, Banks and
Non-Banking Finance Companies. (iii) Equity settled share-based payments.
The Company was incorporated on May 25, 1988 and D. Use of estimates and judgements
approved to act as Registrar and Transfer Agents to The preparation of the financial statements in conformity
Asset Management Companies by Securities and with Ind AS requires that management make judgments,
Exchange Board of India (SEBI).
estimates and assumptions that affect the application of
accounting policies and the reported amounts of assets,
The Company had converted to Public Limited Company
liabilities and disclosures of contingent assets and
with effect from 27th September 2019. The Corporate
liabilities as of the date of the financial statements and
Identity Number (CIN) issued by Registrar of companies,
the income and expense for the reporting period. The
Chennai, Tamil Nadu is L65910TN1988PLC015757.
Management believes that these estimates are prudent
During the year, the Company has completed its Initial and reasonable and are based upon the Management’s
Public Offering (IPO) through an offer for sale of equity best knowledge of current events and actions as on
shares. The equity shares of the Company were listed each reporting date. Actual results could differ from
on BSE Limited on 1st October 2020 and on National those estimates. Appropriate changes in estimates are
Stock Exchange with effect from 7th May 2021. made as the Management becomes aware of changes
in circumstances surrounding the estimates. Changes
The financial statements were approved by the in estimates are reflected in the financial statements in
Company’s Board of Directors on 25th May 2021. the period in which changes are made and, if material,
their effects are disclosed in the notes to the financial
2. Basis of preparation statements.
A. Statement of Compliance
Judgements
The financial statements have been prepared in
accordance with Indian Accounting Standards (Ind AS) Information about judgements made in applying
as per the Companies (Indian Accounting Standards) accounting policies that have the most significant effects
Rules, 2015 notified under Section 133 of Companies on the amounts recognized in the financial statements
Act, 2013, (the ‘Act’) and the guidelines issued by SEBI. is included in the following notes:
Accounting policies have been consistently applied Note 3(a) – Revenue Recognition
except where a newly issued accounting standard is Note 3(b) – Classification of financial assets; assessment
initially adopted or a revision to an existing accounting of business model within which the assets are held
standard requires a change in the accounting policy and assessment of whether the contractual terms of
hitherto in use. financial assets are solely payment of principal and
interest on principal amount outstanding.
B. Functional and Presentation currency Note 3(f) – Whether an arrangement contains a lease;
Indian Rupee (`) is the Company’s functional currency assessment of lease term.
and the currency of the primary economic environment
in which the Company operates. Accordingly, the Assumptions and estimation uncertainties
management has presented the financial statements in Information about assumptions and estimation
Indian Rupees (`). All amounts have been rounded-off uncertainties that have a significant risk of resulting in a
to the nearest lakhs upto two decimal places, unless material adjustment in the year ending March 31, 2021
otherwise indicated. are discussed below:

(i) Fair value measurement of financial instruments the fair value for the share based payment transactions
When the fair value of financial assets and financial are disclosed in Note 36.
liabilities recorded in the balance sheet cannot be
derived from active markets, their fair value is determined (vi) Defined benefit plans
using valuation techniques including the discounted The obligation from defined benefit plan is determined
cash flow model. The inputs to these models are taken using actuarial valuations. An actuarial valuation
from observable markets where possible. Where this involves making assumptions that may differ from
is not feasible, a degree of judgement is required actual developments in the future. These include
in establishing fair values. The judgement includes the determination of the discount rate, future salary
considerations of inputs such as liquidity risk, credit risk increases and mortality rates. Due to the complexities
and volatility. Details about fair value measurements are involved in the valuation and its long term nature, a
disclosed in Note 35. defined benefit obligation is highly sensitive to changes
in these assumptions. All assumptions are reviewed at
(ii) Impairment of financial assets each reporting date. Details about the defined benefit
The Company estimates lifetime expected credit loss obligation are disclosed in Note 26.
allowance is computed based on historical payment
patterns, customer credit worthiness and customer (vii) Provisions and contingencies
concentrations, adjusted for forward looking information The Company estimates the provisions that have
on collection. Details about the expected credit loss present obligations as a result of past events, and it is
allowance are disclosed in Note 35. probable that outflow of resources will be required to
settle the obligations. These provisions are reviewed
(iii) Impairment of non-financial assets at the end of each reporting date and are adjusted to
The determination of recoverable amounts of the reflect the current best estimates.
cash generating units assessed in an impairment test
requires the Company to estimate their fair values net The Company uses significant judgement to disclose
of disposal costs as well as their value-in-use. The contingent liabilities. Contingent liabilities are disclosed
assessment of value-in-use requires assumptions to be when there is a possible obligation arising from past
made with respect to the operating cash flows of the events, the existence of which will be confirmed only
cash generating unit as well as discount rates. by the occurrence or non-occurrence of one or more
uncertain future events not wholly within the control
(iv) Useful life and residual value of property, plant and of the Company or a present obligation that arises
equipment and intangible assets from past events where it is either not probable that
Useful lives of property, plant and equipment are an outflow of resources will be required to settle the
taken as prescribed in Schedule II of the Act. In obligation, or a reliable estimate of the amount cannot
case of intangible assets, useful life is estimated by be made. Contingent assets are neither recognised nor
management taking into account the nature of the asset disclosed in the financial statements.
and the estimated usage of the asset. Residual value
is estimated by management at the time the asset is (viii) Impairment of investment in subsidiaries
acquired and reviewed periodically, including at each The Company reviews its carrying value of investments
financial year end. carried at cost (net of impairment, if any) annually, or
more frequently when there is indication for impairment.
(v) Share based payments If the recoverable amount is less than its carrying
The Company initially measures the cost of equity settled amount, the impairment loss is accounted for in the
transactions with employees using the Black Scholes statement of profit and loss.
model to determine the fair value of the options granted.
Estimating the fair value of the share options granted The determination of recoverable amounts of the
require determination of the most appropriate valuation cash generating units (subsidiaries) assessed in an
model, which is dependent on the terms and conditions impairment test requires the Company to estimate
of the grant. This estimate also requires determination their fair values net of disposal costs as well as their
of the most appropriate inputs to the valuation model value-in-use. The assessment of value-in-use requires
including the expected life of the share option, volatility assumptions to be made with respect to the operating
and dividend yield and making assumptions about cash flows of the cash generating unit (subsidiaries) as
them. The assumptions and models used for estimating well as discount rates.

02-35 37-111 112-230
(ix) Income taxes fair value hierarchy, then the fair value measurement
The Company establishes provisions based on is categorised in its entirety in the same level of the
reasonable estimates, for possible consequences of fair value hierarchy as the lowest level input that is
assessment by the tax authorities of the jurisdiction in significant to the entire measurement.
which it operates. The amount of provision is based
on various factors such as experience of previous tax F. Standards issued but not effective
assessments and differing interpretations of tax laws Ministry of Corporate Affairs (“MCA”) notifies new
by the taxable entity and the responsible tax authority. standard or amendments to the existing standards.
The Company assesses the probability of litigation and There is no such notification which would have been
subsequent cash outflow with respect to taxes. applicable from April 1, 2021.
A deferred tax asset is recognized to the extent that it G. Classification of assets and liabilities as
is probable that future taxable profit will be available current and non-current
against which the deductible temporary differences and
The Company presents assets and liabilities in
tax losses can be utilized. Accordingly, the Company
the balance sheet based on current/ non-current
exercises its judgement to reassess the carrying
classification.
amount of deferred tax assets at the end of each
reporting period.
An asset is treated as current when it is:
E. Measurement of fair values • Expected to be realized or intended to be sold or
Fair value is the price that would be received from consumed in normal operating cycle,
sale of an asset or paid to transfer a liability in an
orderly transaction between market participants at the • Held primarily for the purpose of trading,
measurement date. The fair value measurement is
based on the presumption that the transaction to sell • Expected to be realized within twelve months after
the asset or transfer the liability takes place either: the reporting period, or
• Cash or cash equivalent unless restricted from

• In the principal market for the asset or liability; or
being exchanged or used to settle a liability for at
least twelve months after the reporting period.
• In the absence of a principal market, in the most
advantageous market for the asset or liability.
All other assets are classified as non-current.
The principal or most advantageous market must be
A liability is current when:
accessible to/ by the Company.
• It is expected to be settled in normal operating
Fair values are categorised into different levels in a
cycle,
fair value hierarchy based on the inputs used in the
valuation techniques as follows. • It is held primarily for the purpose of trading,
- evel 1: quoted prices (unadjusted) in active

L • It is due to be settled within twelve months after the
markets for identical assets or liabilities. reporting period, or
- evel 2: inputs other than quoted prices included

L • There is no unconditional right to defer the
in Level 1 that are observable for the asset or settlement of the liability for at least twelve months
liability, either directly (i.e. as prices) or indirectly after the reporting period.
(i.e. derived from prices).
All other liabilities are classified as non-current.
- evel 3: inputs for the asset or liability that are not
L
based on observable market data (unobservable Deferred tax assets and liabilities are classified as non-
inputs). current assets and liabilities.
When measuring the fair value of an asset or a liability, The operating cycle is the time between the acquisition
the Company uses observable market data as far as of assets for processing and their realisation in cash
possible. If the inputs used to measure the fair value and cash equivalents. The Company has identified
of an asset or a liability fall into different levels of the twelve months as its operating cycle.

3. Significant accounting policies (ii) Interest Income

a) Revenue Interest income or expense is recognized using the
The Company recognizes revenue from contracts with effective interest rate method. The ‘effective interest
customers based on the principles set out in Ind AS 115, rate’ is the rate that exactly discounts estimated future
Revenue from Contracts with Customers, to determine cash payments or receipts through the expected life of
when to recognize revenue and at what amount. the financial instrument to
Revenue is measured at fair value of the consideration - The gross carrying amount of the financial asset; or.
received or receivable as per contractual terms.
Revenue is recognized when the Company satisfies - The amortized cost of the financial liability.
a performance obligation by transferring a promised
good or service (i.e., an asset) to a customer and it is In calculating interest income and expense, the
highly probable that a significant reversal of revenue is effective interest rate is applied to the carrying amount
not expected to occur. An asset is transferred when the of the asset (when the asset is not credit impaired)
customer obtains control of that asset. or to the amortized cost of the liability. However, for
financial assets that have become credit-impaired
If the consideration promised in a contract includes a subsequent to initial recognition, interest income is
variable amount, the Company estimates the amount
calculated by applying the effective interest rate to the
of consideration to which it will be entitled in exchange
amortized cost of the financial asset. If the asset is
for rendering the promised services to a customer.
no longer credit impaired, then the calculation of
The amount of consideration can vary because of
interest income reverts to the gross basis. Interest
discounts, credits, price concessions or other similar
income / expense on financial instruments at FVTPL
items. Revenues are shown net of taxes and applicable
discounts and allowances. is not included in fair value changes but presented
separately.
The Company primarily generates revenue by
providing registrar and transfer agent services to asset (iii) Realized and unrealized gain / loss
management companies and technology enabled The realized gains / losses from financial instruments at
service to private equity fund, bank and non-banking FVTPL represents the difference between original cost of
financial services sectors. purchase and its settlement price. The unrealized gains
/ losses represents the difference between the carrying
Revenue recognition for different heads of income are
amount of a financial instrument at the beginning of the
as under:
period, or the transaction price if it was purchased in the
I) Revenue from rendering of services: current reporting period, and its carrying amount at the
end of the reporting period.
Revenue from data processing services and customer
care services is recognized on an accrual basis in b) Financial Instruments
accordance with the agreements entered with asset
Financial assets and financial liabilities are recognized
management companies. The Company has adopted the
when the company becomes a party to the contractual
output method to measure progress of each performance
provisions of the instruments. All financial instruments
obligation except for those contracts where revenue is
are recognized initially at fair value, except for
dependent on the number of resources deployed.
trade receivables which are initially measured at
transaction price. Transaction costs that are attributable
Recoverables represent expenses incurred in relation
to the acquisition of the financial asset (other
to services performed that are allocated and recovered
than financial assets recorded at fair value through
from the customers based on the agreed terms and
profit or loss) are included in the fair value of the
conditions.
financial assets. Purchase or sales of financial
II)
Recognition of dividend income, interest income assets that require delivery of assets within a time
or expense and gains or losses from financial frame established by regulation or convention in the
instruments: market place (regular way trade) are recognized on the
trade date.
(i) Dividend Income
Dividend income is recognized in the Statement of Profit For the purpose of subsequent measurement, financial
and Loss on the date on which the Company’s right to instruments of the company are classified in the
receive dividend is established. following categories:

02-35 37-111 112-230
(i) Financial assets at amortized cost, • The financial asset is held within a business model
whose objective is to hold financial assets in order
(ii) Financial assets (debt instruments) at fair value to collect contractual cash flows and
through other comprehensive income (FVTOCI),
• the contractual terms of the financial asset give
(iii) Equity instruments at FVTOCI and fair value rise on specified dates to cash flows that are solely
through profit and loss account (FVTPL), payments of principal and interest on the principal
amount outstanding (SPPI).
(iv) Financial liabilities at amortized cost or FVTPL.
They are presented as current assets, except for those
The classification of financial instruments depends
on the objective of the business model for which it is maturing later than 12 months after the reporting date
held. Management determines the classification of its which are presented as non-current assets. Financial
financial instruments at initial recognition. assets are measured initially at fair value plus transaction
costs and subsequently carried at amortized cost using
Business model assessment the effective interest method, less any impairment loss.
The Company makes an assessment of the objective
of the business model in which a financial asset is held Amortized cost are represented by investment in interest
at a portfolio level because this best reflects the way bearing debt instruments, trade receivables, security
the business is managed, and information is provided to deposits, cash and cash equivalents, employee and
management. other advances and eligible current and non-current
assets. Any gain or loss on derecognition is recognized
Assessment whether contractual cash flows are in the Statement of Profit and Loss.
solely payments of principal and interest
For the purposes of this assessment, ‘principal’ is Cash and cash equivalents comprise cash on hand and
defined as the fair value of the financial asset on initial in banks and demand deposits with banks with original
recognition. ‘Interest’ is defined as consideration for the maturity less than 3 months which can be withdrawn at
time value of money and for the credit risk associated any time without prior notice or penalty on the principal.
with the principal amount outstanding during a particular For the purposes of the cash flow statement, cash
period of time and for other basic lending risks and costs and cash equivalents include cash on hand and cash
(e.g. liquidity risk and administrative costs), as well as in banks.
a profit margin. In assessing whether the contractual
cash flows are solely payments of principal and (ii) Financial asset at FVTOCI
interest, the Company considers the contractual terms
A debt instrument shall be measured at fair value
of the instrument. This includes assessing whether the
through other comprehensive income if both of the
financial asset contains a contractual term that could
change the timing or amount of contractual cash flows following conditions are met:
such that it would not meet this condition. In making this
assessment, the Company considers: • The objective of the business model is achieved by
both collecting contractual cash flows and selling
− Contingent events that would change the amount or financial assets and
timing of cash flows;
• the asset’s contractual cash flow represent SPPI
− Terms that may adjust the contractual coupon rate, debt instruments included within FVTOCI category
including variable interest rate features; are measured initially as well as at each reporting
period at fair value plus transaction costs.
− Prepayment and extension features; and
Fair value movements are recognized in Other
− Terms that limit the Company’s claim to cash flows Comprehensive Income (“OCI”). However, the Company
from specified assets. recognises interest income, impairment losses &
reversals and foreign exchange gain loss in Profit or
I) Financial assets
Loss. On derecognition of the asset, cumulative gain or
(i) Financial assets at amortized cost loss previously recognized in OCI is reclassified from
A financial asset shall be measured at amortized cost if OCI to profit and loss. Interest earned is recognized
both of the following conditions are met: under the expected interest rate (EIR) model.

Currently the Company has not classified any interest in the Statement of Profit or Loss. Any gain or loss on
bearing debt instrument under this category derecognition is also recognized in the Statement of
Profit or Loss.
(iii) Equity instruments at FVTOCI and FVTPL
All equity instruments are measured at fair value (ii) Financial liabilities at FVTPL
other than investment in subsidiaries, joint venture A financial liability is classified as at FVTPL if it is
and associate. Equity instruments held for trading are classified as held for trading, or it is designated as
classified as FVTPL. For all other equity instruments, such on initial recognition. Financial liabilities at FVTPL
the Company may make an irrevocable election to are measured at fair value and net gains and losses,
present subsequent changes in the fair value in OCI. including any interest expense, are recognized in the
The Company makes such election on an instrument- Statement of Profit or Loss.
by-instrument basis.
III) Derecognition
If the Company decides to classify an equity instrument Financial assets
as at FVTOCI, then all fair value changes on the
The Company derecognizes a financial asset when the
instrument, excluding dividend are recognized in OCI
contractual rights to the cash flows from the financial
which is not subsequently recycled to Profit or Loss.
asset expire, or it transfers the rights to receive the
contractual cash flows in a transaction in which
If the Company decides to classify an equity instrument
substantially all of the risks and rewards of ownership
as at FVTPL, then all fair value changes on the
of the financial asset are transferred or in which the
instrument and dividend are recognized in Profit
Company neither transfers nor retains substantially all
or Loss.
of the risks and rewards of ownership and does not
retain control of the financial asset.
Currently the Company has not classified any equity
instrument neither at FVTOCI nor at FVTPL.
If the Company enters into transactions whereby it
transfers assets recognized on its balance sheet but
(iv) Equity investments in Subsidiaries
retains either all or substantially all the risks and rewards
Investments in subsidiaries are carried at cost less of the transferred assets, the transferred assets are
accumulated impairment losses, if any. Where an not derecognized.
indication of impairment exists, the carrying amount
of the investment is assessed and written down Financial liabilities
immediately to its recoverable amount. On disposal
The Company derecognizes a financial liability when
of investments in subsidiaries, the difference between
its contractual obligations are discharged or cancelled
net disposal proceeds and the carrying amount are
or expired.
recognized in the Statement of Profit or Loss.
The Company also derecognizes a financial liability
(v) Financial assets at FVTPL
when its terms are modified and the cash flows under the
FVTPL is a residual category for financial assets. Any modified terms are substantially different. In this case,
financial asset which does not meet the criteria for a new financial liability based on the modified terms is
categorization as at amortized cost or as FVTOCI, is recognized at fair value. The difference between the
classified as FVTPL. In addition the Company may elect carrying amount of the financial liability extinguished
to designate the financial asset, which otherwise meets and the new financial liability with modified terms is
amortized cost or FVTOCI criteria, as FVTPL if doing recognized in the Statement of Profit or Loss.
so eliminates or significantly reduces a measurement or
recognition inconsistency. c) Impairment
(i)
Financial assets carried at amortized cost and
II) Financial liabilities
FVTOCI
(i) Financial liabilities at amortized cost
In accordance with Ind AS 109, the Company applies
Financial liabilities at amortized cost represented by Expected Credit Loss (ECL) model for measurement and
trade and other payables are initially recognized at recognition of impairment loss. The Company follows
fair value, and subsequently carried at amortized cost ‘simplified approach’ for recognition of impairment
using the effective interest method. Interest expense loss allowance on trade receivable. The application
and foreign exchange gains and losses are recognized of simplified approach does not require the Company

02-35 37-111 112-230
to track changes in credit risk. Rather, it recognizes could still be subject to enforcement activities in order
impairment loss allowance based on lifetime ECLs at to comply with the Company’s procedures for recovery
each reporting date, right from its initial recognition. of amounts due.
For recognition of impairment loss on other financial
assets and risk exposure, the Company determines (ii) Impairment of equity investments measured at cost
that whether there has been a significant increase in the Investments are measured at cost are tested for
credit risk since initial recognition. If credit risk has not impairment at the end of each reporting period. Any
increased significantly, 12-month ECL is used to provide impairment loss is recognized in the statement of profit
for impairment loss. However, if credit risk has increased and loss, if the amount of impairment loss decreases
significantly, lifetime ECL is used. If in subsequent subsequently then the previously recognized impairment
period, credit quality of the instrument improves such loss is reversed in the statement of profit and loss.
that there is no longer a significant increase in credit
risk since initial recognition, then the entity reverts to (iii) Impairment of non-financial assets
recognizing impairment loss allowance based on 12
At each reporting date, the Company reviews the
month ECL. Lifetime ECLs are the expected credit
carrying amounts of its non-financial assets (other than
losses resulting from all possible default events over the
deferred tax assets) to determine whether there is any
expected life of a financial instrument. The 12 month
indication of impairment. If any such indication exists,
ECL is a portion of the lifetime ECL which results from then the asset’s recoverable amount is estimated. For
default events that are possible within 12 months after impairment testing, assets are grouped together into
the reporting date. the smallest group of assets that generates the cash
inflows from continuing use that are largely independent
Measurement of expected credit losses of the cash inflows of other assets or Cash Generating
ECL is the difference between all contractual cash flows Units (‘CGU’). The recoverable amount of a CGU (or an
that are due to the Company in accordance with the individual asset) is the higher of its value in use and its
contract and all the cash flows that the entity expects to fair value less costs to sell.
receive (i.e. all shortfalls), discounted at the original EIR.
When estimating the cash flows, an entity is required Value in use is based on the estimated future cash
to consider: flows, discounted to their present value using a pre-tax
discount rate that reflects current market assessments
• All contractual terms of the financial instrument of time value of money and the risks specific to the
(including prepayment, extension etc.) over the CGU (or the asset). Where it is not possible to estimate
expected life of the financial instrument. However, the recoverable amount of the individual asset, the
in rare cases when the expected life of the financial Company estimates the recoverable amount of the
instrument cannot be estimated reliably, then the CGU to which the asset belongs. An impairment loss is
entity is required to use the remaining contractual recognized if the carrying amount of an asset or CGU
term of the financial instrument. exceeds its recoverable amount.
• Cash flows from the sale of collateral held or Impairment loss in respect of assets except goodwill
other credit enhancements that are integral to the is reversed only to the extent that the assets carrying
contractual terms. amount does not exceed the carrying amount that
would have been determined, net of depreciation or

Presentation of allowance for expected credit amortization, if no impairment loss had been recognized
losses in the balance sheet in prior years. A reversal of impairment loss is recognized
Loss allowances for financial assets measured at immediately in the Statement of Profit or Loss.
amortized cost are deducted from the gross carrying
amount of the assets. d) Property, plant and equipment
Recognition and measurement
Write-off Items of property, plant and equipment are measured at
The gross carrying amount of a financial asset is written cost, which includes capitalized borrowing costs, less
off (either partially or in full) to the extent that there is no accumulated depreciation and accumulated impairment
realistic prospect of recovery. This is generally the case losses, if any.
when the Company determines that the debtor does not
have assets or sources of income that could generate Cost of an item of property, plant and equipment
sufficient cash flows to repay the amounts subject to the comprises its purchase price, including import duties
write‑off. However, financial assets that are written off and non-refundable purchase taxes, after deducting

trade discounts and rebates, any directly attributable The estimated useful lives of items of property, plant
cost of bringing the item to its working condition and equipment for the current and comparative periods
for its intended use and estimated costs of dismantling are as follows:
and removing the item and restoring the site on
Asset Block Management estimate of useful life
which it is located. Repairs and maintenance costs
are recognised in the Statement of Profit and Loss Building 60 years
when incurred. Computers 3 to 6 years
Air Conditioners 15 years
The cost of a self-constructed item of property, plant Office Equipment 5 years
and equipment comprises the cost of materials, direct
Electrical Fittings 10 years
labor and any other costs directly attributable to bringing
Furniture & Fixtures 10 years
the item to working condition for its intended use, and
estimated costs of dismantling and removing the item
Depreciation method, useful lives and residual values
and restoring the site on which it is located.
are reviewed at each financial year-end and adjusted,
if appropriate. Based on technical evaluation and
Advances paid towards the acquisition of property,
consequent advice, the management believes that its
plant and equipment outstanding at each Balance
estimates of useful lives as given above best represent
Sheet date is classified as capital advances under other
the period over which management expects to use
non-current assets and the cost of assets not ready
these assets.
to use before such date are disclosed under ‘Capital
work-in-progress’.
Depreciation on additions (disposals) is provided on a
pro-rata basis i.e. from (up to) the date on which asset
If significant parts of an item of property, plant and
is ready for use (disposed of).
equipment have different useful lives, then they are
accounted for as separate items (major components) of e) Intangible assets
property, plant and equipment.
Initial recognition and measurement
The cost and related accumulated depreciation Intangible assets acquired separately are stated at cost
are eliminated from the financial statements upon of acquisition net of recoverable taxes, accumulated
sale or retirement of the asset and the resultant gains amortization and impairment losses, if any. Such
or losses are recognized in the Statement of Profit costs include purchase price, borrowing cost, and any
and Loss. cost directly attributable to bringing the asset to its
working condition for the intended use, net charges on
Any gain or loss on disposal of an item of property, plant foreign exchange contracts and adjustments arising
and equipment is recognized in the Statement of Profit from exchange rate variations attributable to the
or Loss. intangible assets.
Subsequent expenditure Research costs are expensed as incurred. Software

product development costs are expensed as incurred
Subsequent expenditure is capitalized only if it is unless technical and commercial feasibility of the project
probable that the future economic benefits associated is demonstrated, future economic benefits are probable,
with the expenditure will flow to the Company. the company has an intention and ability to complete
and use or sell the software, and the costs can be
Depreciation measured reliably. The costs which can be capitalized
Depreciation is calculated on cost of items of property, include the cost of material, direct labour and overhead
plant and equipment less their estimated residual costs that are directly attributable to preparing the asset
values over their estimated useful lives using the for its intended use.
straight line method and is recognized in the Statement
of Profit and Loss except assets individually costing Subsequent expenditure
less than Rupees five thousand which are fully Subsequent expenditure is capitalised only when it
depreciated in the year of purchase / acquisition. increases the future economic benefits embodied in the
Freehold land is not depreciated. Depreciation is not specific asset to which it relates. All other expenditure,
recorded on capital working-progress until construction including expenditure on internally generated goodwill
and installation is completed and assets are ready for and brands, is recognized in the Statement of Profit or
its intended use. Loss as incurred.

02-35 37-111 112-230
Amortization Short-term leases and leases of low-value assets

Amortization is calculated to write off the cost of The Company has elected not to recognise right-of-
intangible assets less their estimated residual values use assets and lease liabilities for short term leases
over their estimated useful lives using the straight-line that have a lease term of less than 12 months. The
method and is included in depreciation and amortization Company recognises the lease payments associated
in Statement of Profit and Loss. with these leases as an expense on a straight-line basis
over the lease term.
The estimated useful lives of items of intangible assets
for the current and comparative periods are as follows: Subsequent Measurement
Asset Block Management estimate of useful life Right to use assets are subsequently measured at cost
Software 3 years less accumulated depreciation and impairment losses.
ROU assets are depreciated from the commencement
Amortization method, useful lives and residual values date on a straight-line basis over the shorter of the lease
are reviewed at the end of each financial year and term and useful life of the underlying asset.
adjusted if appropriate.
Lease Modification
f) Leases A lease modification is accounted as a separate lease
As a lessee if the modification increases the scope of the lease by
adding the right-of-use one or more underlying assets
The Company’s lease asset classes primarily consist of
and the consideration for the lease increases by an
leases for land and buildings. The Company assesses
amount commensurate with the stand-alone price for
whether a contract contains a lease, at inception of a
the increase in scope and any appropriate adjustments
contract. A contract is, or contains, a lease if the contract to that stand-alone price to reflect the circumstances of
conveys the right to control the use of an identified the particular contract.
asset for a period of time in exchange for consideration.
To assess whether a contract conveys the right to For a lease modification that is not a separate lease, at
control the use of an identified asset, the Company the effective date of the modification, the lease liability is
assesses whether: remeasured by discounting the revised lease payments
using a revised discount rate at that date. For lease
(i) The contract involves the use of an identified asset modifications that decrease the scope of the lease, the
(ii) The Company has substantially all of the economic carrying amount of the right-of-use asset is decreased
benefits from use of the asset through the period of to reflect the partial or full termination of the lease,
the lease and and a gain or loss is recognised that reflects the
proportionate decrease in scope. For all other lease
(iii) The Company has the right to direct the use of the modifications, a corresponding adjustment is made to
asset. the right-of-use asset.
Initial Recognition Impairment

The Company recognises a right-of-use asset and a ROU assets are evaluated for recoverability whenever
lease liability at the lease commencement date. The events or changes in circumstances indicate that their
right-of-use asset is initially measured at cost, which carrying amounts may not be recoverable. For the
comprises the initial amount of the lease liability purpose of impairment testing, the recoverable amount
adjusted for any lease payments made at or before (i.e. the higher of the fair value less cost to sell and the
the commencement date, plus any initial direct costs value-in-use) is determined on an individual asset basis
incurred and an estimate of costs to dismantle and unless the asset does not generate cash flows that are
remove the underlying asset or to restore the underlying largely independent of those from other assets. In such
asset or the site on which it is located, less any lease cases, the recoverable amount is determined for the
incentives received. Cash Generating Unit (CGU) to which the asset belongs.
Certain lease arrangements includes the options to Measurement of Lease Liability

extend or terminate the lease before the end of the The lease liability is initially measured at amortized cost
lease term. ROU assets and lease liabilities includes at the present value of the future lease payments. The
these options when it is reasonably certain that they will lease payments are discounted using the interest rate
be exercised. implicit in the lease or, if not readily determinable, using

the incremental borrowing rates in the country of domicile and National pension scheme. The Company recognizes
of these leases. Lease liabilities are remeasured with contribution made towards provident fund and national
a corresponding adjustment to the related ROU asset pension scheme in the Statement of Profit and Loss.
if the Company changes its assessment of whether The Company also contributes to Superannuation Fund
it will exercise an extension or a termination option. and Pension Fund for its employees who have been
Lease liability and ROU assets have been separately contributing to such funds.
presented in the Balance Sheet and lease payments
have been classified as financing cash flows. The Company makes specified monthly contributions
towards Government administered provident fund and
As a lessor national fund scheme.
The Company has given on sub-lease some of its
premises during the year. When the Company is an (iii) Defined benefit plans
intermediate lessor, it accounts for its interests in the A defined benefit plan is a post-employment benefit plan
head lease and the sub-lease separately. It assesses other than a defined contribution plan.
the lease classification of a sub-lease with reference to
the right-of-use asset arising from the head lease, not For defined benefit plans in the form of gratuity fund,
with reference to the underlying asset. If a head lease the cost of providing benefits is determined using the
is a short-term lease to which the Company applies the projected unit credit method, with actuarial valuations
exemption described above, then it classifies the sub- being carried out at the end of each annual reporting
lease as an operating lease. period. The contributions made to the fund are recognized
as plan assets. The defined benefit obligation as
g) Foreign currency transactions reduced by fair value of plan assets is recognized on the
The functional currency and the presentation currency of Balance Sheet.
the Company is Indian Rupees. Transactions in foreign
currency are recorded on initial recognition using the When the calculation results in a potential asset for
exchange rate at the transaction date. Monetary assets the Company, the recognized asset is limited to the
and liabilities denominated in foreign currencies are present value of economic benefits available in the
translated at the functional currency closing rates of form of any future refunds from the plan or reductions
exchange at the reporting date. Exchange differences in future contributions to the plan (‘the asset ceiling’).
arising on the settlement or translation of monetary In order to calculate the present value of economic
items are recognised in the statement of profit and loss benefits, consideration is given to any minimum
in the period in which they arise. Non-monetary assets funding requirements.
and liabilities that are measured in terms of historical
cost in foreign currencies are not retranslated. Remeasurements of the net defined benefit liability,
which comprise actuarial gains and losses, the return
h) Employee benefits on plan assets (excluding interest) and the effect of the
(i) Short-term employee benefits asset ceiling (if any, excluding interest), are recognized
Short-term employee benefit obligations are measured in OCI.
on an undiscounted basis and are expensed as the
The Company determines the net interest expense
related service is provided. A liability is recognized for
(income) on the net defined benefit liability (asset)
the amount expected to be paid e.g., under short-term
for the period by applying the discount rate used to
cash bonus, if the Company has a present legal or
measure the defined benefit obligation at the beginning
constructive obligation to pay this amount as a result of
of the annual period to the then-net defined benefit
past service provided by the employee, and the amount liability (asset), taking into account any changes in the
of obligation can be estimated reliably. net defined benefit liability (asset) during the period
as a result of contributions and benefit payments. Net
(ii) Defined contribution plans interest expense and other expenses related to defined
A defined contribution plan is a post-employment benefit benefit plans are recognized in the Statement of Profit
plan under which an entity pays fixed contributions into or Loss.
a separate entity and will have no legal or constructive
obligation to pay further amounts. When the benefits of a plan are changed or when a plan
is curtailed, the resulting change in benefit that relates
The Company offers its employees defined contribution to past service (‘past service cost’ or ‘past service
plan in the form of provident fund, Superannuation fund gain’) or the gain or loss on curtailment is recognized

02-35 37-111 112-230
immediately in the Statement of Profit or Loss. The respect of previous years. The amount of current tax
Company recognises gains and losses on the settlement reflects the best estimate of the tax amount expected
of a defined benefit plan when the settlement occurs. to be paid or received after considering the uncertainty,
if any, related to income taxes. It is measured using tax
(iv) Other long-term employee benefits rates (and tax laws) enacted or substantively enacted
by the reporting date.
Compensated absences which are not expected to occur
within twelve months after the end of the period in which
Current tax assets and current tax liabilities are offset
the employee renders related service are recognized as
only if there is a legally enforceable right to set off the
a liability at the present value of the obligation as at the recognized amounts, and it is intended to realize the asset
Balance Sheet date less fair value of the plan assets and settle the liability on a net basis or simultaneously.
out of which the obligations are expected to be settled.
The cost of providing benefits is measured on the basis Deferred tax
of an annual independent actuarial valuation using the Deferred tax is recognized using the balance sheet
projected unit credit method. Remeasurements gains or approach. Deferred tax is recognized in respect of
losses are recognized in the Statement of Profit or Loss temporary differences between the carrying amounts of
in the period in which they arise. assets and liabilities for financial reporting purposes and
the corresponding amounts used for taxation purposes.
(v) Share-based payment transactions
The Employee Stock Option Schemes of the company Deferred tax is not recognized for:
provide for grant of options to employees of the Group Temporary differences arising on the initial recognition of
to acquire the equity shares of the Company that assets or liabilities in a transaction that is not a business
vest in a graded manner and that are to be exercised combination and that affects neither accounting nor
within a specified period. Equity-settled share-based taxable profit or loss at the time of the transaction
payments to employees are measured at the fair value
of the equity instruments at the grant date. The fair Deferred income tax asset are recognized to the extent
value determined at the grant date of the equity-settled that it is probable that taxable profit will be available
share based payments is expensed on a straight-line against which the deductible temporary differences, and
the carry forward of unused tax credits and unused tax
basis over the vesting period, based on the Company’s
losses can be utilized. Deferred income tax liabilities are
estimate of equity instruments that will eventually vest,
recognized for all taxable temporary differences.
with a corresponding increase in equity. At the end of
each reporting period, the Company revises its estimate The carrying amount of deferred income tax assets is
of the number of equity instruments expected to vest. reviewed at each reporting date and reduced to the
The impact of the revision of the original estimates, if extent that it is no longer probable that sufficient taxable
any, is recognized in the Statement of Profit or Loss profit will be available to allow all or part of the deferred
such that the cumulative expense reflects the revised income tax asset to be utilized. Deferred income tax
estimate, with a corresponding adjustment to Employee assets and liabilities are measured at the tax rates that
Stock Option Reserve account in Reserves & Surplus. are expected to apply in the period when the asset is
realized or the liability is settled, based on tax rates
In respect of options granted to employees of subsidiaries, (and tax laws) that have been enacted or substantively
the Company recovers the related compensation cost enacted at the reporting date.
from the respective subsidiaries.
Deferred tax assets and liabilities are offset if there is a
i) Income taxes legally enforceable right to offset current tax liabilities
and assets, and they relate to income taxes levied by
Income tax comprises current and deferred tax. It is
the same tax authority but they intend to settle current
recognized in the Statement of Profit or Loss except
tax liabilities and assets on a net basis or their tax
to the extent that it relates to a business combination
assets and liabilities will be realised simultaneously.
or to an item recognized directly in equity or in other
comprehensive income. Current and deferred taxes are recognized in the
Statement of Profit or Loss, except when they relate
Current tax to items that are recognized in other comprehensive
Current tax comprises the expected tax payable or income or directly in equity, in which case, the current
receivable on the taxable income or loss for the year and deferred taxes are also recognized in other
and any adjustment to the tax payable or receivable in comprehensive income or directly in equity respectively.

j) Provisions, Contingent liabilities and the contract are lower than the unavoidable cost of
Contingent assets meeting its obligations under the contract. The provision
A provision is recognized if, as a result of a past event, the for an onerous contract is measured at the present
Company has a present legal or constructive obligation value of the lower of the expected cost of terminating
that can be estimated reliably, and it is probable that an the contract and the expected net cost of continuing
outflow of economic benefits will be required to settle with the contract. Before such a provision is made, the
the obligation. The amount recognized as a provision is Company recognizes any impairment loss on the assets
the best estimate of the consideration required to settle associated with that contract.
the present obligation at the balance sheet date, taking
into account the risks and uncertainties surrounding
k) Earnings per share
the obligation. The Company reports basic and diluted earnings
per share in accordance with Ind AS 33 on Earnings
If the effect of the time value of money is material, per share.
provisions are determined by discounting the expected
future cash flows at a pre-tax rate that reflects current The basic earnings per share is computed by dividing
market assessment of the time value of money and risks profit after tax attributable to the equity shareholders
specific to the liability. When discounted, the increase in by the weighted average number of equity shares
provision due to the passage of time is recognized as outstanding during the reporting period.
finance cost.
Diluted earnings per share is computed by dividing the
Contingent liabilities are disclosed when there is net profit after tax by the weighted average number of
a possible obligation arising from past events, the equity shares considered for deriving basic earnings
existence of which will be confirmed only by the per share and also weighted average number of equity
occurrence or non-occurrence of one or more uncertain shares that could have been issued upon conversion
future events not wholly within the control of the of all dilutive potential equity shares. Dilutive potential
Company or a present obligation that arises from past equity shares are deemed converted as of the beginning
events where it is either not probable that an outflow of of the period, unless issued at a later date. Dilutive
resources will be required to settle the obligation or a potential equity shares are determined independently for
reliable estimate of the amount cannot be made. each period presented. The number of equity shares and
potentially dilutive equity shares are adjusted for bonus
A contingent asset is not recognised but disclosed in shares, consolidation of shares, etc. as appropriate.
the financial statements where an inflow of economic
benefit is probable. l) Cash and cash equivalents
Cash and cash equivalents are short-term highly liquid
Commitments includes the amount of purchase order investments that are readily convertible into cash with
(net of advance) issued to counterparties for supplying/ original maturities of three months or less. Cash and
development of assets and amounts pertaining cash equivalents consist primarily of cash and deposits
to Investments which have been committed but not with banks.
called for.
m) Cash flow statement
Provisions, contingent assets, contingent liabilities and Cash flows are reported using the indirect method,
commitments are reviewed at each balance sheet date. whereby net profit / (loss) before tax is adjusted for
the effects of transactions of non-cash nature and any
Onerous contracts deferrals or accruals of past of future cash receipts and
A contract is considered to be onerous when the expected payments. The cash flows from operating, investing and
economic benefits to be derived by the Company from financing activities of the Company are segregated.

Notes forming part of the standalone Ind AS financial statement
for the Year Ended March 31, 2021
Note: 4 Fixed Assets
I. Current year
a) Property Plant and Equipments
In Rs. Lakhs
Sl. Property, Plant and Gross Block Accumulated Depreciation Net Block
No. Equipment - Owned/ Balance as Additions Disposals/ Balance as Balance as at Depreciation Elimination Balance as Balance as Balance as
Acquired at April 1, Adjustments at March 31, April 1, 2020 Expense for on Disposal/ at March 31, at March 31, at March 31,
2020 2021 the year Adjustments 2021 2021 2020
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
02-35
2 Buildings 503.48 - - 503.48 215.89 13.79 - 229.68 273.81 287.59

3 Plant & Equipment 517.94 28.88 25.38 521.45 242.93 50.23 22.19 270.97 250.48 275.01
4 Furniture & Fixtures 2,002.19 102.16 177.82 1,926.52 1,381.90 160.35 135.56 1,406.69 519.83 620.29
5 Office equipments 1,041.82 67.82 86.42 1,023.23 816.30 109.84 76.47 849.66 173.57 225.52
CORPORATE OVERVIEW
6 Computer 9,595.46 1,325.26 211.07 10,709.65 7,210.14 1,070.24 197.77 8,082.61 2,627.05 2,385.32
7 Electrical Fittings 561.43 31.10 52.18 540.35 396.21 43.58 36.68 403.11 137.25 165.22
Total 16,661.53 1,555.22 552.87 17,663.88 10,263.37 1,448.02 468.68 11,242.71 6,421.17 6,398.16
b) ROU Assets
In Rs. Lakhs
Sl. Right to use assets Gross Block Accumulated Depreciation Net Block
No. Balance as Additions Disposals/ Balance as Balance as at Elimination Depreciation Balance as Balance as at Balance as
37-111
at April 1, Adjustments at March 31, April 1, 2020 on Disposal/ Expense for at March 31, March 31, at March 31,
2020 2021 Adjustments the year 2021 2021 2020
of Assets
STATUTORY REPORTS
1 Leasehold 10,242.11 1,255.43 (1,615.41) 9,882.13 1,934.05 (581.03) 1,719.76 3,072.77 6,809.36 8,308.05
improvements
Total 10,242.11 1,255.43 (1,615.41) 9,882.13 1,934.05 (581.03) 1,719.76 3,072.77 6,809.36 8,308.05
c) Intangible Assets
In Rs. Lakhs
Sl. Intangible Assets - Gross Block Accumulated Depreciation Net Block
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as Amortisation Elimination Balance as Balance as Balance as
112-230
at April 1, Adjustments at March at April 1, Expense for on Disposal/ at March 31, at March 31, at March
2020 31, 2021 2020 the year Adjustments 2021 2021 31, 2020
of Assets
1 Software 4,961.32 818.83 - 5,780.16 3,886.60 771.08 - 4,657.69 1,122.47 1,074.72
FINANCIAL STATEMENTS
Total 4,961.32 818.83 - 5,780.16 3,886.60 771.08 - 4,657.69 1,122.47 1,074.72
Note : Depreciation and amortisation expense

Particulars 2020-21
(a) Depreciation of Property, Plant and Equipment 1,448.02
33rd Annual Report 2020-21

(b) Depreciation on Right to use assets 1,719.76
(c) Amortisation of Intangible Assets 771.08
137
Total 3,938.86
138
II. Previous Year
In Rs. Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21

2 Buildings 503.48 - - 503.48 201.41 14.48 - 215.89 287.59 302.07
3 Plant & Equipment 472.23 111.65 65.94 517.94 252.99 46.85 56.91 242.93 275.01 219.24
4 Furniture & Fixtures 2,029.04 74.82 101.67 2,002.19 1,245.41 227.70 91.21 1,381.90 620.29 783.63
5 Office equipments 990.88 92.43 41.49 1,041.82 715.94 138.57 38.21 816.30 225.52 274.94
6 Computer 8,900.85 927.28 232.67 9,595.46 6,193.62 1,235.10 218.58 7,210.14 2,385.32 2,707.23
Total 15,905.48 1,222.73 466.68 16,661.53 8,972.80 1,719.14 428.57 10,263.37 6,398.16 6,932.68
b) ROU Assets
In Rs. Lakhs
No. Balance Recognition Additions Disposals/ Balance Balance Adjusted Depreciation Elimination Balance Balance Balance
as at of ROU Asset Adjustments as at as at Balance as at Expense for on Disposal/ as at as at as at
April 1, on initial March April 1, April 1, 2019 the year Adjustments March March March 31,
2019 application of 31, 2020 2019 of Assets 31, 2020 31, 2020 2019
Ind AS 116
1 Leasehold - 10,252.51 - (10.40) 10,242.11 - - 1,941.77 (7.72) 1,934.05 8,308.05 -
improvements
Total - 10,252.51 - (10.40) 10,242.11 - - 1,941.77 (7.72) 1,934.05 8,308.05 -
In Rs. Lakhs
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as Amortisation Elimination Balance as Balance as Balance as
of Assets
1 Software 4,740.85 220.47 - 4,961.32 2,953.41 933.19 - 3,886.60 1,074.72 1,787.44
Total 4,740.85 220.47 - 4,961.32 2,953.41 933.19 - 3,886.60 1,074.72 1,787.44

Particulars 2019-20
(b) Depreciation on Right to use assets 1,941.77
Total 4,594.10
02-35 37-111 112-230

Note: 5 Investments
Particulars As at March 31, 2021 As at March 31, 2020
Current Non Current Total Current Non Current Total
In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs
Investments carried at cost
Unquoted Investments
Investment in equity instruments
of subsidiaries - 22,588.34 22,588.34 - 19,888.35 19,888.35
Total - 22,588.34 22,588.34 - 19,888.35 19,888.35
Designated as Fair Value
Through Profit and Loss
Quoted investments
Investments in Government or - 53.07 53.07 - 53.30 53.30
trust securities
Investments in Mutual fund 13,582.68 - 13,582.68 19,754.63 - 19,754.63
Total 13,582.68 53.07 13,635.75 19,754.63 53.30 19,807.93
TOTAL INVESTMENTS 13,582.68 22,641.42 36,224.10 19,754.63 19,941.65 39,696.28
CARRYING VALUE
Investments in Subsidiaries
Holding Cost Holding Cost
(in shares) In Rs. Lakhs (in shares) In Rs. Lakhs
CAMS Insurance Repository Services Limited 4,541,670 3,631.35 4,541,670 3,631.35
CAMS Investor Services Private Limited 745,000 2,507.00 745,000 2,507.00
Sterling Software Private Limited 509,461 13,500.00 509,461 13,500.00
CAMS Financial Information services Private Limited 4,499,999 450.00 2,499,999 250.00
CAMS Payments Services Private Limited 24,999,900 2,499.99 - -
Total 22,588.34 19,888.35
Investments (Other than subsidiaries)

Holding Fair Value Holding Fair Value
(in units) In Rs. Lakhs (in units) In Rs. Lakhs
A. Current
Aditya Birla SL Liquid Direct-Growth 22,690 75.22 109,868 351.09
Aditya Birla SL Saving Direct-Growth 4 0.02 4 0.02
Axis Liquid Direct Growth 4,412 100.81 - -
DSP Liquidity Direct-Growth 91,370 2,687.34 7,259 206.22
DSP Ultra Short Direct-Growth 2 0.07 2 0.06
Franklin India Dynamic PE Ratio FoF Direct-Growth - - 52,366 39.26
Franklin India Liquid Direct-Growth - - 42,515 1,268.38
HDFC Charity Fund For Cancer Cure - Arbitrage - - 1,500,000 150.71
HDFC Liquid Direct-Growth 24,480 990.36 - -
HDFC Money Market Direct-Growth 2 0.07 2 0.06
HDFC Short Term Debt Direct-Growth - - 12,493,419 2,859.53
HDFC Top 100 Direct-Growth - - 97,821 353.54


(in units) In Rs. Lakhs (in units) In Rs. Lakhs
HSBC Cash Direct-Growth 4,393 90.01 4,393 86.87
ICICI Pru Balanced Advantage Direct-Growth 804,878 386.66 1,694,305 559.12
ICICI Pru Bluechip Direct-Growth - - 213,081 72.04
ICICI Pru FMP - Series 82 1136 Days Plan P-Growth 10,000 1.26 10,000 1.17
ICICI Pru Large & Mid Cap Direct-Growth - - 69,336 171.85
ICICI Pru Liquid Direct-Growth 98,816 301.13 - -
ICICI Pru Savings Direct -Growth 16 0.07 63,142 246.49
ICICI Pru Value Fund - Series 13-Growth - - 4,179 0.32
ICICI Pru Value Fund - Series 16-Growth - - 4,990 0.49
ICICI Pru Value Fund - Series 19 Direct-Growth 12,500 1.66 12,500 0.91
ICICI Pru Value Fund - Series 19-Growth 52,293 6.72 52,293 3.69
IDFC Bond Short Term Direct-Growth 4,903,514 2,297.89 6,546,694 2,838.82
IDFC Cash Direct-Growth - - - -
IDFC Money Manager Direct-Growth 195 0.07 1,722,862 550.69
Kotak Bond Short-term Direct-Growth 3,741,789 1,626.86 10,122,467 4,060.48
Kotak Liquid Direct-Growth 14,575 606.18 1 0.05
Kotak Savings Direct-Growth - - 1,175,719 386.27
Kotak Standard Multicap Direct-Growth - - 699,241 202.74
L&T Liquid Direct-Growth 5 0.13 5 0.12
L&T Short Term Bond Direct-Growth 9,160,963 1,983.37 9,811,696 1,975.71
Nippon India Liquid Direct-Growth 2,005 100.87 - -
Nippon India Low Duration Direct-Growth 1,667 50.34 1,667 47.05
SBI Liquid Direct-Growth 39,905 1,285.58 - -
SBI Magnum Low Duration Direct-Growth 2 0.07 2 0.06
SBI Short Term Debt Direct-Growth 3,714,792 966.92 13,558,046 3,272.13
Sundaram Money Direct-Growth 135 0.06 135 0.06
Tata FMP Series 56 Scheme D Direct-Growth 86,000 10.75 86,000 9.91
Tata Money Market Direct-Growth 2 0.06 2 0.06
Union Liquid Direct-Growth 606 12.02 606 11.59
YES Liquid Fund Direct-Growth 10 0.11 2,510 27.06
TOTAL 13,582.68 19,754.62

(in shares) In Rs. Lakhs (in shares) In Rs. Lakhs
B. Non-current
NHAI BOND 4,944 53.07 4,944 53.30
TOTAL 53.07 53.30

02-35 37-111 112-230

Note: 6 Trade receivables
Current Non Current Current Non Current
Unsecured, considered good 2,414.49 - 2,624.02 -
Unsecured, doubtful 182.27 - 101.40 -
2,596.76 - 2,725.42 -
Less: Expected Credit loss allowance 182.27 - 101.40 -
Total 2,414.49 - 2,624.02 -
Note: 7 Financial Assets: Loans & Advances

Security deposits
Unsecured considered good 342.53 881.49 - 990.45
Doubtful 138.01 - - 21.90
480.54 881.49 - 1,012.35
Less: Expected Credit loss on Rental Advances 138.01 - - 21.90
342.53 881.49 - 990.45
Loans and advances to employees
Unsecured considered good 54.84 17.33 54.02 17.88
Other loans and advances
Unsecured considered good 3.78 - 3.00 -
Total 401.15 898.82 57.02 1,008.33
Note: 8 Other Financial Assets

Interest accrued, but not due on Fixed Deposits with banks 92.08 - 6.83 -
Fixed deposit with Bank held as margin money - Maturity - - - 20.00
more than 12 months
Other receivables
Contractually reimbursable payments 0.83 - 557.39 -
Recoverables from subsidairies towards ESOP & Others 140.61 - - -
Total 233.51 - 564.22 20.00
Note: 9 Cash and Cash Equivalents

Particulars As at As at
March 31, 2021 March 31, 2020
Cash and Bank Balances
Cash on hand 1.59 4.50
Balances with banks
- In current accounts 1,406.44 2,045.81
Total 1,408.03 2,050.31


Note: 10 Bank balances other than cash and cash equivalents
March 31, 2021 March 31, 2020
Deposits with Bank
- In other deposit accounts 2,080.00 180.00
- Balances held as margin money or security against borrowings, guarantees and 2,054.62 85.60
other commitments
Other earmarked balances with banks
- In ECS Collection 1,914.46 1,624.98
- In NPS Collection - 3.19
- In Stamp Duty Collection 30.78 -
Unpaid / Unclaimed Dividends Account * 6,721.86 -
Total 12,801.72 1,893.77
* Includes an amount of Rs. 6,719.74 lakhs declared as dividend payable to NSE Investments Ltd during the current year. However, the same
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020 and therefore, the specified amount is kept
in a separate bank account.
Note: 11 Current Tax Assets (Net)

Advance Tax & TDS ( Net of Provision for tax amounting to 616.21 - 1,086.38 -
Rs. 46,566.90 Lakhs, March 2020 : Rs. 40,234.37 Lakhs)
Total 616.21 - 1,086.38 -
Note: 12 Other assets

Capital Advances - 243.97 - 0.16
Advance to suppliers 345.88 - 323.03 -
Accrued Income 5,946.55 - 4,972.50 -
Prepayments 867.81 53.00 667.25 28.77
Employee benefits assets (net) - - 19.12 -
Total 7,160.24 296.98 5,981.90 28.93
Note: 13 Share Capital

Number of Value Number of Value
shares (Rs. in Lakhs) shares (Rs. in Lakhs)
Authorised
Equity shares of Rs. 10 each with voting rights 50,250,000 5,025.00 50,250,000 5,025.00
Issued
Subscribed and fully paid up
Notes:
Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the year:

02-35 37-111 112-230

Particulars Opening ESOP Others Closing

Balance exercised Balance
Equity shares with voting rights
Year ended March 31, 2021
- Number of shares 48,760,000 31,038 - 48,791,038
- Amount (In Rs. Lakhs) 4,876.00 3.10 - 4,879.10
Year ended March 31, 2020
- Number of shares 48,760,000 - - 48,760,000
- Amount (In Rs. Lakhs) 4,876.00 - - 4,876.00
Details of shares held by each shareholder holding more than 5% shares:

Number of % of Number of % of
shares holding shares holding
Great Terrain Investment Limited 15,115,600 30.98% 21,224,000 43.53%
Housing Development Finance Corporation Ltd 2,920,724 5.99% 2,920,724 5.99%
Smallcap World Fund, Inc 2,903,879 5.95% - 0.00%
NSE Investments Limited - 0.00% 18,285,000 37.50%
Note: 14 Other Equity

March 31, 2021 March 31, 2020
Securities premium account
Opening balance - -
Add : Premium on shares issued during the year under ESOP Scheme* 294.96 -
Closing balance 294.96 -
Employee Stock Option Reserve
Opening balance 362.10 -
Add: ESOP amortisation during the year 867.88 362.10
Less: Transferred to Securities premium account on exercise of ESOP options* (107.28) -
Closing balance 1,122.69 362.10
General reserve
Opening balance 11,035.43 11,035.43
Closing balance 11,035.43 11,035.43
Other Comprehensive Income
Opening balance (789.43) (727.97)
OCI recognised during the year 34.70 (61.46)
Closing balance (754.73) (789.43)
Surplus / (Deficit) in Statement of Profit and Loss
Add: Profit / (Loss) for the year 21,897.28 16,407.32
Less: Dividend (24,928.26) (7,015.59)
Total 42,091.89 44,032.62


Note: 15 Trade payables
Total Outstanding dues to Micro, Small and Medium Enterprises 28.16 67.93
Total Outstanding dues to Others 1,952.91 - 1,162.15 -
Claims Payable 718.17 - 431.44 -
Expenses Payable 2,502.70 - 1,996.86 -
Total 5,201.95 - 3,658.38 -
Note: 16 Other Financial Liabilities

Unclaimed / Unpaid dividends* 6,721.86 - - -
Lease liabilities 1,167.49 6,135.16 2,130.86 6,427.30
Total 7,889.35 6,135.16 2,130.86 6,427.30
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020
Note: 17 Other Current Liabilities

Statutory dues
- taxes payable (other than income taxes) 970.81 - 690.86 -
- Employees and Employer Contributions 174.44 - 164.91 -
Unearned revenue 11.10 - - -
Other payables 170.94 - 135.82 -
Others - Money held in trust 1,940.28 - 1,628.17 -
Total 3,267.57 - 2,619.76 -
Note: 18 Provisions
Provision for employee benefits:
Provision for Gratuity (net) 42.50 563.78 36.38 408.20
Provision for other employee benefits 1,191.09 - 850.39 -
Provision - Others:
Provision for claims - 6,500.00 - 6,500.00
Total 1,233.59 7,063.78 886.77 6,908.20

02-35 37-111 112-230

Note: 19 Revenue from operations
Revenue from rendering of services 67,375.26 66,145.81
Total 67,375.26 66,145.81
Revenue from rendering of services comprises

Data processing 56,180.56 52,736.06
Customer Care services 4,570.95 6,254.89
Recoverables 3,020.51 3,273.85
Miscellaneous services 3,603.23 3,881.01
Total 67,375.26 66,145.81
Note: 20 Other income

Interest Income
- On Bank deposits, NHAI bonds & Others 116.19 25.31
- On Financial Assets at Amortised Cost 71.34 69.54
Dividend Income
- From Subsidiaries 3,852.71 701.31
- Others 1.11 8.72
Operating lease rental income 168.00 169.97
Net Gain / (Loss) On sale of investments 1,537.67 1,084.09
Net gain/(loss) arising on financial assets designated as at FVTPL (173.72) (291.08)
Miscellaneous Income 67.27 30.16
Liabilities No Longer payable Written back 108.40 71.85
Provision for disputed taxes - Written back - 80.70
Gain on termination of lease contracts 111.42 0.22
Total 5,860.40 1,950.79
Note: 21 Employee benefits expense

Salaries and wages, including bonus 15,311.24 14,566.58
Contributions to provident and other funds 1,356.18 1,409.75
Share based payment transactions expenses
- Equity-settled share-based payments 743.13 304.45
Staff welfare expenses 421.20 576.19
Manpower Charges 3,874.29 4,115.03
Total 21,706.04 20,972.00


Note: 22 Finance costs
Interest on Lease liabilities 706.39 804.94
Total 706.39 804.94
Note: 23 Operating Expenses

Service expenses 3,020.52 3,360.19
Data entry charges 526.36 639.43
Customer Service Centre Charges 1,278.43 1,297.09
Claims 504.48 1,295.06
Software expense 7,248.52 6,488.72
Total 12,578.30 13,080.49
Note: 24 Other Expenses

Lease rent 156.59 241.36
Power and fuel 575.97 765.87
Repairs and Maintenance 1,265.70 1,284.60
Insurance 187.37 141.92
Rates and taxes 122.55 57.99
Communication 1,282.03 1,294.71
Travelling and conveyance 381.23 612.61
Printing and stationery 187.98 185.79
Business promotion 143.65 140.08
Expenditure on Corporate Social Responsibility 421.36 378.42
Legal and professional 868.91 796.91
Payments to auditors (refer note no 38) 45.56 30.45
Director's Sitting Fees 70.50 41.50
Net (Gain) / loss on foreign currency transactions and translation (2.56) (0.23)
Loss on fixed assets sold / scrapped / written off 66.72 20.73
Provision for doubtful debts and advances 196.98 (3.34)
Bad debts 0.58 3.55
Inter operability expenses 216.14 -
Miscellaneous expenses 118.24 125.24
Total 6,305.51 6,118.16

02-35 37-111 112-230

Note: 25 Current Tax and Deferred Tax
(a) Income Tax Expense
Current Tax:
Current Income Tax Charge 6,309.62 5,825.88
Adjustments in respect of prior years - -
Deferred Tax - Debit / (Credit)
In respect of current year origination and reversal of temporary differences (206.35) 293.71
Total Tax Expense recognised in statement of profit and loss 6,103.27 6,119.59
(b) Income Tax on Other Comprehensive Income

Current Tax
On Items will not be reclassified to Profit and Loss
Remeasurements of defined benefit liabilities / (asset) 11.67 (20.67)
Total 11.67 (20.67)
(c) Deferred Tax

In Rs. Lakhs
Opening Recognised Closing Opening Recognised Closing
Balance in profit and Balance Balance in profit and Balance
Loss Loss
Tax effect of items constituting
deferred tax liabilities /
reversal of deferred tax
liabilities
Property, Plant and Equipment 1,722.21 426.05 1,296.16 (274.30) (1,996.51) 1,722.21
FVTPL financial asset 219.68 22.65 197.03 - (219.68) 219.68
Sub Total (A) 1,941.89 448.70 1,493.19 (274.30) (2,216.19) 1,941.89
deferred tax assets / reversal
of deferred tax assets
Employee Benefits 258.54 (55.10) 313.64 401.43 142.89 258.54
Lease liabilities 2,153.92 315.99 1,837.93 - (2,153.92) 2,153.92
Other Items 277.23 (18.54) 295.77 365.79 88.55 277.23
Sub Total (B) 2,689.69 242.35 2,447.34 767.22 (1,922.48) 2,689.69
Net Deferred Tax Asset / 747.80 (206.35) 954.15 1,041.51 293.71 747.80
(Liabilities) (B-A)


Note 26: Employee Benefits
(Rs. in Lakhs, unless otherwise stated)
I. Defined Contribution Plans
Provident Fund:
The Company makes contribution towards Provident Fund for its employees. The Company’s contribution is deposited
with the Government under the provisions of Employees’ Provident Fund and Miscellaneous Provisions Act 1952. The
contribution made by the Company is at the rate specified under this Act.
Others:
The Company makes contribution for Employee State Insurance and National Pension Scheme for its employees. All
such contributions are deposited with the Government. The Company also contributes to Superannuation Fund and
Pension Fund for its employees who have been contributing to such funds.
During the year, the Company recognised the following amounts in the Statement of Profit or Loss (included in Note 21:
Employee Benefit Expenses.
Contribution to Provident Fund 399.09 438.48
Contribution to Employee State Insurance 132.00 157.55
Contribution to Superannuation Fund 18.76 20.34
Contribution to Pension Fund 420.96 444.15
Contribution to National Pension Scheme 30.01 32.56
Total 1,000.82 1,093.08
II. Defined Benefit Plans

March 31, 2021 March 31, 2020
Net defined benefit liability / (asset) - Gratuity plan 119.14 35.34
Other long term employee benefits liability / (asset) - leave encashment 23.72 (19.12)
Total employee benefit liabilities 142.86 16.22
The Company has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act 1972. This gratuity
plan entitles an employee, who has rendered at least 5 years of continuous service to gratuity, at the rate of 15 days
wages for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn
by the employee concerned.
A. Funding
The gratuity plan is fully funded by the Company. The funding requirements are based on a separate actuarial
valuation within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.
B. Reconciliation of net defined benefit (asset)/ liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined
benefit (asset)/ liability and its components:

02-35 37-111 112-230

Reconciliation of present value of defined benefit obligation:
March 31, 2021 March 31, 2020
Balance at the beginning of the year 2,025.41 1,677.86
Benefits paid (86.44) (134.59)
Current service cost 262.29 244.09
Interest cost 133.58 126.95
Actuarial (gains)/ losses recognised in OCI
- changes in demographic assumptions - (14.60)
- changes in financial assumptions 109.97 168.82
- experience adjustments (160.28) (43.12)
Total actuarial (gains)/ losses (50.31) 111.11
Balance at the end of the year 2,284.54 2,025.41
March 31, 2021 March 31, 2020
Non-Current 2,101.05 1,863.37
Current 183.49 162.04
Total 2,284.54 2,025.41
Reconciliation of present value of plan assets:

March 31, 2021 March 31, 2020
Contributions paid into the plan 159.83 345.00
Expected return on plan assets 131.25 125.18
Return on plan assets , excluding amount recognised in net interest expense (29.31) -
Net defined benefit (asset)/ liability 119.14 35.34
C. Expenses recognised
i. In Statement of Profit or Loss
Net interest expense 2.33 1.77
Total 264.63 245.86
ii. Remeasurements recognised in OCI

Actuarial (gains)/ losses on defined benefit obligation (50.31) 111.11
Return on plan assets , excluding amount recognised in net interest expense 29.31 -
Total (21.00) 111.11
D. Plan Assets
Plan assets comprise of the following:
March 31, 2021 March 31, 2020
Funds managed by Insurers 100% 100%


E. Assumptions and Other Details
i. Actuarial assumptions
Principal actuarial assumptions at the reporting date (expressed as weighted averages):
March 31, 2021 March 31, 2020
Discount rate 6.40% 6.60%
Future salary growth 10% for first year, 8% for next 8% for first 3 years and 6%
two years and 6% thereafter thereafter
Retirement Age 60 years 60 years
Attrition rate Upto 30 years - 15% Upto 30 years - 15%
31-45 years - 10% 31-45 years - 10%
Above 45 years - 5% Above 45 years - 5%
Mortality rate 100% of IALM 12-14 100% of IALM 12-14
ii. Sensitivity analysis

Particulars Increase Decrease
31-Mar-21
Discount rate (1% movement) 2,105.64 2,489.80
Future salary growth (1% movement) 2,478.10 2,111.22
Attrition rate (1% movement) 2,272.18 2,289.78
Mortality rate (1% movement) 2,284.78 2,284.29
31-Mar-20
Although the analysis does not take into account the full distribution of cash flows expected under the plan, it
provides an approximation of the sensitivity of the assumptions shown.
iii. Expected Contribution during the next annual reporting year

The Company’s best estimate of Contribution during the next year is Rs. 423.44 lakhs
iv. Maturity Profile of Defined Benefit Obligation

Weighted average duration (based on discounted cashflows) is 8 years.
Weighted average duration (based on discounted cashflows) Indian Rupees
(INR)
1 year 183.48
2 to 5 year 818.14
6 to 10 year 1,087.51
More than 10 year 2,265.84
v. Risk associated with Defined benefit Plan

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework
which may vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit
which are as follows:
Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will
result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the
value of the liability (as shown in financial statements).

02-35 37-111 112-230

Liquidity Risk: This is the risk that the Company is not able to meet the short term payouts. This may arise due
to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of
salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan
participants from the rate of increase in salary used to determine the present value of obligation will have a
bearing on the plan’s liability.
Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the
liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the
assumption.
Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,
1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity pay-outs
(e.g. Increase in the maximum limit on gratuity of Rs. 20,00,000).
Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of
assets, exposing the Company to market risk for volatilities/fall in interest rate.
Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any
particular investment.
III. Other long term employee benefits - Compensated absences (Leave encashment):
A. Funding
The leave encashment plan is fully funded by the Company. The funding requirements are based on a separate
actuarial valuation within the framework set out in the funding policies of the plan. Employees do not contribute to
the plan.

The following table shows a reconciliation from the opening balances to the closing balances for the net (asset)/
liability and its components:
Reconciliation of present value of obligation:
March 31, 2021 March 31, 2020
Balance at the beginning of the year 474.35 442.52

- changes in demographic assumptions - (1.38)

Total actuarial (gains)/ losses 1.56 (1.21)
Balance at the end of the year 544.21 474.35


March 31, 2021 March 31, 2020
Non-Current 487.70 423.05
Current 56.51 51.30
Total 544.21 474.35

March 31, 2021 March 31, 2020
Net (asset)/ liability 23.72 (19.12)
Net interest expense (1.26) (0.07)
Return on plan assets excluding interest income 20.10 -
Actuarial (gains)/ losses 1.56 (1.21)
Total 126.29 74.18
D. Assets
March 31, 2021 March 31, 2020
Funds managed by Insurers 100% 100%

March 31, 2021 March 31, 2020
31-45 years - 10% 31-45 years - 10%

02-35 37-111 112-230

31-Mar-21
Discount rate (1% movement) 502.55 592.34
Future salary growth (1% movement) 591.67 502.36
Attrition rate (1% movement) 547.21 538.12
Mortality rate (1% movement) 544.23 544.17
31-Mar-20
The Company’s best estimate of Contribution during the next year is Rs. 164.00 lakhs
As at March 31, 2021, the weighted average duration of the defined benefit obligation was 8 years
(INR)
1 year 56.51
2 to 5 year 206.93
6 to 10 year 238.43
More than 10 year 546.01

which may vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit
Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will
Liquidity Risk: This is the risk that the Company is not able to meet the short-term pay-outs. This may arise
due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not
being sold in time..
bearing on the plan’s liability.
Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability.
The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of
assets, exposing the Company to market risk for volatilities/fall in interest rate.


Note 27: Earnings per share
A. Basic Earnings per share
The calculations of profit attributable to equity shareholders and weighted average number of equity shares outstanding
for calculation of Basic EPS are as follows:
i. Profit or loss attributable to equity shareholders (basic)

Profit attributable to the equity shareholders 21,897.28 16,407.32
ii. Weighted average number of equity shares (basic)

Face Value per share in Rs. 10 10
Opening Balance 48,760,000 48,760,000
Weighted average number of equity shares issued during the year upon exercise of 21,986 -
ESOP
Weighted average number of equity shares for the year 48,781,986 48,760,000
Basic EPS 44.89 33.65
B. Diluted Earnings per share

The calculations of diluted earnings per share based on profit attributable to equity shareholders and weighted average
number of equity shares outstanding, after adjustment for the effects of all dilutive potential equity shares, are as follows:
i. Profit or loss attributable to equity shareholders (diluted)

Profit attributable to the equity shareholders (Basic) 21,897.28 16,407.32
Adjustment with respect to dilutive potential equity shares - -
Profit attributable to the equity shareholders (Diluted) 21,897.28 16,407.32
ii. Weighted average number of equity shares (diluted)

Face Value per share in Rs. 10.00 10.00
Weighted average number of equity shares (basic) 48,781,986 48,760,000
Dilutive effect of outstanding stock options 183,301 33,982
Weighted average number of equity shares (diluted) for the year 48,965,288 48,793,982
Diluted EPS 44.72 33.63
Note 28: Dividend per share

The Board of Directors has declared:
i) First interim dividend of Rs. 7.90 per share in its meeting held on 10 May 2020,
ii) Second interim dividend of Rs. 3.25 per share in its meeting held on 16 June 2020,
iii) Third interim dividend of Rs. 25.60 in its meeting held on 10 August 2020.
iv) Fourth interim dividend of Rs. 6.75 in its meeting held on 11 November 2020.

02-35 37-111 112-230

v) Fifth interim dividend of Rs. 7.60 in its meeting held on 11 February 2021.
Total Dividend Paid (excluding tax on dividend) 24,928.26 5,938.97
Dividend Tax - 1,076.62
No of equity shares 48,791,038 48,760,000
Dividend per share 51.09 12.18
The board of directors at its meeting held on 25 May 2021 have proposed a final dividend of Rs. 11.84 per equity share,
subject to approval by shareholders at ensuing annual general meeting.
Note 29: Disclosures required under Section 22 of the Micro, Small and Medium Enterprises
Development Act, 2006
The Management has identified enterprises which have provided goods and services to the Company and which qualify under
the definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act,
2006. Accordingly, the disclosure in respect of amounts payable to such enterprises as at March 31, 2021 has been made
based on the information available with the Company. Further, in the view of the Management, the impact of interest, if any,
that may be payable in accordance with the Act is not expected to be material. The Company has not received any claim for
interest from any supplier under this Act.
The information has been determined to the extent such parties have been identified on the basis of information available with
the Company. Auditors have placed reliance on such information provided by the Management.
March 31, 2021 March 31, 2020
Principal amount remaining unpaid to MSME suppliers as at the end of the year 28.16 67.93
Interest due on unpaid principal amount to MSME suppliers as at the end of the year - -
Amount of interest paid along with the amounts of the payment made to the MSME suppliers - -
beyond the appointed day
Amount of interest due and payable for the year (without adding the interest under the Act) - -
Amount of interest accrued and remaining unpaid as at the end of the year - -
Amount of further interest due and payable even in the succeeding year, until such date when the - -
interest dues as above are actually paid
Note 30: Expenditure in foreign currency

Software License / Consultancy Charges 259.81 242.29
Total 259.81 242.29


Note 31: Related parties
A. Names of related parties and nature of relationship:

I. Entities having control/ significant influence/ joint venture relationships:
Particulars Nature of relationship
Great Terrain Investment Limited Shareholder having significant influence over the Company
Harmony River Investment Limited Parent Company of Great Terrain Investment Limited
Housing Development Finance Corp Ltd ** Shareholder having significant influence over the Company
(upto 30th September 2020)
HDFC Bank Ltd (upto 30th September 2020) ** Shareholder having significant influence over the Company
HDB Employee Welfare Trust (upto 30th September 2020) ** Shareholder having significant influence over the Company
NSE Investments Limited (Formerly known as NSE Strategic Shareholder having significant influence over the Company
Investment Corporation Limited) (upto 4th February 2020)*** "
National Stock Exchange of India Limited Parent Company of NSE Investments Limited
(upto 4th February 2020)***
*** Based on SEBI communication dated 04th February 2020 and NSE communication dated 26th February 2020 , NSE Investments
Limited had significant influence over the company only upto 4th February 2020, the group companies of NSE Investments Limited
are also considered as related parties only upto 4th February 2020.
** HDFC Bank Ltd will not be classified as related parties exercising significant influence over the company from 1 October 2020
consequent to the Shareholder Agreement ceasing to be in existence and listing of the company on the above date.
II. Related Group Companies of entities covered above:

NSE Clearing Limited (Formerly known as National Securities Group Entity of NSE India Limited
Clearing Corporation Limited) ***
III. Subsidiaries:
CAMS Insurance Repository Services Limited Wholly owned subsidiary
CAMS Investor Services Private Limited Wholly owned subsidiary
Sterling Software Private Limited Wholly owned subsidiary
CAMS Financial Information Services Private Limited Wholly owned subsidiary
CAMS Payment Services Private Limited Wholly owned subsidiary
Sterling Software (Deutschland) GmbH Wholly owned subsidiary of Sterling Software Private Limited
III. Key Management Personnel (KMP):

Name Designation
Mr Vedanthachari Srinivasa Rangan Non Executive and Non Independent Director
Mr Narendra Ostawal Nominee Director
Mr Zubin Dubash Nominee Director
Mr Hoshang Noshirwan Sinor Nominee Director (upto 6th December 2019)
Mr David Alan Coulter Nominee Director (upto 6th December 2019)
Mr Jagannathan Ravichandran Nominee Director (upto 6th December 2019)
Mr Mukesh Agarwal Nominee Director (from 17th December 2019 to 17th
February 2020)
Mr Anuj Kumar Whole time Director and Chief Executive Officer
Mr M Somasundaram Chief Financial Officer
Mr G Manikandan Company Secretary and Compliance Officer

02-35 37-111 112-230

B. Transactions with Related Parties
Transaction Related Parties 2020-21 2019-20
I. Income
Support services CAMS Insurance Repository Services Limited 90.88 120.45
CAMS Investor Services Private Limited 18.00 18.00
Sterling Software Private Limited 0.08 0.58
Fee for services National Stock Exchange of India Limited *** 131.91
NSE Clearing Limited *** 11.90
Rental Income CAMS Insurance Repository Services Limited 165.12 168.77
CAMS Financial Information Services Private Limited 1.35 -
CAMS Payment Services Private Limited 0.32 -
Dividend received CAMS Investor Services Private Limited 745.00 138.87
Sterling Software Private Limited 3,107.71 562.44
II. Expenses
emuneration and other
R Mr Anuj Kumar 337.85 319.27
short term employment
Mr M Somasundaram 134.90 130.21
benefits
Mr G Manikandan 85.78 61.60
Share based payments Mr Anuj Kumar 196.92 88.75
Rental expenses CAMS Insurance Repository Services Limited 38.34 153.36
oftware License and
S Sterling Software Private Limited 5,540.22 5,054.36
Maintenance Fee
Inter Operability Charges CAMS Investor Services Private Limited 598.73 -
Other KRAs
Sitting fees paid NSE Investments Limited *** 7.50
Mr Hoshang Noshirwan Sinor - 5.50
Mr Vedanthachari Srinivasa Rangan 13.50 10.50
Dividend paid Mr Anuj Kumar 2.88 -
Housing Development Finance Corporation Ltd (upto 30th 1,073.37 355.74
September 2020)
HDFC Bank Ltd (upto 30th September 2020) 596.71 197.77
HDB Employee Welfare Trust (upto 30th September 2020) 571.63 189.45
NSE Investments Limited *** 2,227.11
Great Terrain Investment Limited 9,968.91 2,585.08
Note :
(a) Information relating to remuneration paid to KMP excludes:
(i) provision made for gratuity and leave encashment which are based on an actuarial valuation for employees on an overall
basis, and
(ii) perquisites on ESOP exercise.
(b) Leave encashment is included to the extent of payouts made to the KMP.


C. Related Party Balances
As at As at
Particulars Related Parties March 31, 2021 March 31, 2020
Investment in Equity shares CAMS Insurance Repository Services Limited 3,631.35 3,631.35
CAMS Investor Services Private Limited 2,507.00 2,507.00
Sterling Software Private Limited 13,500.00 13,500.00
CAMS Financial Information Services Private Limited 450.00 250.00
CAMS Payment Services Private Limited 2,500.00 -
Balance in Current Accounts HDFC Bank Ltd ** 2,200.37
Balance in Deposits Accounts HDFC Bank Ltd ** 285.59
Trade Receivables CAMS Insurance Repository Services Limited 8.73 39.93
Sterling Software Private Limited - 39.52
CAMS Financial Information Services Private Limited 0.35 -
National Stock Exchange of India Limited *** 48.85
Other Receivables CAMS Payment Services Private Limited 20.07 -
CAMS Insurance Repository Services Limited 38.39 -
Sterling Software Private Limited 82.15 -
Trade Payables CAMS Insurance Repository Services Limited - 13.80
Sterling Software Private Limited 520.17 553.35
Accrued Income CAMS Insurance Repository Services Limited 20.77 15.45
CAMS Payment Services Private Limited 0.32 -
All transactions with related parties are on arm’s length basis.
Note 32: Corporate Social Responsibility


CSR amount required to be spent as per section 135 of the companies Act, 2013 read with 420.96 378.35
Schedule VII thereof by the Company during the year is
Amount spent during the year (in cash)
(i) Construction/ acquisition of any asset - -
(ii) On purposes other than (i) above 421.36 378.42
Total (i) + (ii) 421.36 378.42

02-35 37-111 112-230

Note 33: Leases
The Company has entered into operating lease agreements for office spaces and printers/photocopiers.
Office spaces taken on lease (Leasehold improvements):

Office spaces in around 100 locations across India have been taken on lease. Lease payments are made monthly and include
specified amenities. The Company has effective control over these office spaces as the Company will be renovating or building
temporary erections as and when required. The lease term ranges from 11 months to 9 years.
Printers, Photocopiers and others:

The Company has applied the exemption in Ind AS 116 for leases of low value assets and has not applied the new standard for
leases of printers and photocopiers. Also, the consideration paid for such leases include both rental and maintenance charges.
For these leases, the lease expenses are accounted on a straight-line basis (based on actual payments) over the lease term.
During the year, the Company has given some of the premises on sublease basis to its subsidiaries and vice versa. Ind AS 116
requirements have not been applied by treating them as short term leases as the lease term for these contracts are perpetual.
A. Right of Use Assets:

March 31, 2021 March 31, 2020
Opening balance 8,308.05 -
Initial recognition - 10,252.51
Additions during the year 1,255.43 -
Depreciation charge for the year 1,719.76 1,941.77
(Derecognition) / Adjustments during the year (1,034.38) (2.69)
B. Lease Liability:
March 31, 2021 March 31, 2020
Initial recognition / additions during the year 1,104.17 9,823.30
Interest expenses for the year 706.39 804.94
Lease payments during the year (1,988.88) (2,067.17)
(Derecognition)/ Adjustments during the year (1,077.19) (2.90)
C. Amounts recognised in Statement of Profit or Loss:

Interest on lease liabilities 706.39 804.94
Expenses relating to leases of low-value assets and short term leases 156.59 241.36
Depreciation on Right to Use asset 1,719.76 1,941.77
Sublease Income 105.13 168.26
Gain or loss on termination of lease 111.42 0.22
Total 2,799.29 3,156.55


D. Amounts recognised in Statement of Cash Flows:
Total cash outflow for leases* 2,103.28 2,067.40
* Includes advance payment of lease amounting to Rs. 114.40 lakhs to one of the lessors.
E. Extension Options
Some leases for office spaces contain extension options exercisable by the Company for an additional period ranging
between 11 months to 5 years. Where practicable, the Company seeks to include extension options in new leases to
provide operational flexibility. The extension options held are exercisable only by the Company and not by the lessors. The
Company assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The
Company reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant
changes in circumstances within its control.
I. Definition of a lease
At inception of the contract, the Company assesses whether a contract is, or contains, a lease. Under Ind AS 116, a
contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time, in
exchange for consideration.
II. As a lessee
For measuring the lease liabilities, the Company has discounted lease payments using MCLR rate provided by its
bankers, which is 8.25%.
The Company has used the following practical expedients while applying Ind AS 116 to leases previously classified
as operating lease:
i. The Company did not recognise Right of Use Assets and liabilities for leases of low value assets (eg. Printers
and photocopiers).
ii. The Company used hindsight when determining lease term.
iii. The Company applied the exemption not to recognise right-of-use assets and liabilities for leases with less than
12 months of lease term.
iv. The Company has used a single discount rate to a portfolio of leases with reasonably similar characteristics
III. Maturity analysis of lease liabilities

Less than 1 year 1,167.49 2,130.86
More than 1 year 6,135.16 6,427.30
Total 7,302.65 8,558.16

02-35 37-111 112-230

Note 34: Revenue
A. Revenue Streams
The Company generates revenue primarily from provision of application/data processing services, customer care services
and other allied services to its customers.
Revenue from Contracts with Customers 67,375.26 66,145.81
Total revenue 67,375.26 66,145.81
B. Disaggregation of revenue from contracts with customers

In the following table, revenue from contracts with customers is disaggregated by major service lines, timing of revenue
recognition and primary geographical market.
I. Major service lines:
- Data processing 56,180.56 52,736.06
- Customer Care services 4,570.95 6,254.89
- Recoverables 3,020.51 3,273.85
- Miscellaneous services 3,603.23 3,881.01
Total 67,375.26 66,145.81
II. Timing of revenue recognition:

- Revenue recognised at a point in time 67,367.86 66,145.81
- Revenue recognised over a period of time 7.40 -
Total 67,375.26 66,145.81
III. Primary geographical market:

- India 67,375.26 66,145.81
- Other countries - -
Total 67,375.26 66,145.81
C. Contract Balances
The following table provides information about contract assets and liabilities from contracts with customers.
(i) Contract Assets

March 31, 2021 March 31, 2020
Invoice raised during the year (4,972.50) (5,437.45)
Unbilled revenue recognized during the year 5,946.55 4,972.50


(ii) Contract Liabilities
March 31, 2021 March 31, 2020
Opening balance - -
Invoice raised during the year 18.50 -
Revenue recognized during the year 7.40 -
The contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at
the reporting date for services rendered. The contract assets are transferred to receivables when the rights become
unconditional. This usually occurs when the Company issues an invoice to the customer.
The contract liabilities includes income received in advance and pending to be recognized as income since obligation
is yet to be performed and invoice raised against unearned revenue.
Note 35: Financial Instruments and Risk Management (Ind AS 32 and 109)
A. Categories of Financial Instruments
I. Financial Assets
March 31, 2021 March 31, 2020
Measured at fair value through profit or loss (FVTPL)
- Investments in mutual funds 13,582.68 19,754.63
- Investment in Government Securities 53.07 53.30
Total 13,635.75 19,807.93
March 31, 2021 March 31, 2020
Measured at amortised cost
- Trade receivables 2,414.49 2,624.02
- Cash and Cash Equivalents 1,408.03 2,050.31
- Bank balances other than cash and cash equivalents 12,801.72 1,893.77
- Investment in subsidiaries at cost 22,588.34 19,888.35
- Loans 1,299.97 1,065.35
- Others 233.51 584.22
Total 40,746.06 28,106.02
II. Financial Liabilities

March 31, 2021 March 31, 2020
- Trade payables 5,201.95 3,658.38
- Unpaid dividend 6,721.86 -
- Lease liabilities 7,302.65 8,558.16
Total 19,226.45 12,216.54

02-35 37-111 112-230

B. Fair Value Measurement:
The following table shows the carrying amounts and the fair values of financial assets and liabilities, including their levels
in the fair value hierarchy.
Particulars Carrying Amount Fair Value (In Rs. Lakhs)
(In Rs. Lakhs)
Financial assets - Level 1 Level 2 Level 3 Total
At FVTPL
31-Mar-21
Financial assets measured at fair value:
- Investments in mutual funds 13,582.68 13,582.68 - - 13,582.68
- Investment in Government Securities 53.07 53.07 - - 53.07
13,635.75 13,635.75 - - 13,635.75
31-Mar-20
19,807.93 19,807.93 - - 19,807.93
Note A) Fair value hierarchy used for Investments in Mutual Funds and Government securities - Level 1. Valuation technique and key
inputs - Quoted Net Asset Value/ Prices in active market.
Note B) The Company has not disclosed the fair values for financial assets such as trade receivables, cash and cash equivalents, other
bank balances, loans etc., because their carrying amounts are a reasonable approximation of fair value.
Note C) The Company has not disclosed the fair values for financial liabilities such as trade payables and lease liabilities because their
carrying amounts are a reasonable approximation of fair value.
There are no transfers between Level 2 and Level 3 during the period.
C. Financial risk management

The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk
management framework. The Company’s business activities are exposed to a variety of financial risks, namely liquidity
risk, credit risk. Risk management policies have been established to identify and analyse the risks faced by the Company,
to set and monitor appropriate risk limits and controls, periodically review and reflect the changes in the policy accordingly.
The Company’s Audit Committee oversees how management monitors compliance with the risk management policies
and procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the
Company. The Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes review of risk
management controls and procedures and the results of the same are reported to the Audit Committee.
I. Credit Risk:
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instruments fails
to meet its contractual obligations, and arises principally from the Company’s receivables from customers and
cash and cash equivalents. The carrying amounts of financial assets represent the maximum credit risk exposure.
Credit risk encompasses both the direct risk of default and the risk of deterioration of credit worthiness as well as
concentration risk.
a) Loans and Advances

This consists of security deposits and advances given to employees. Security deposits are rental deposits
given to lessors and the company assesses deposit balance on a periodical interval and estimated losses are
provided for. The Company also does not expect any losses on the employee advances since they are given
only to permanent employees of the Company.


b) Trade Receivables
The Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer.
However, management also considers the factors that may influence the credit risk of its customer base,
including the default risk of the industry.
The Company establishes an allowance for impairment that represents its expected credit losses in respect of
trade and other receivables. The management uses a simplified approach for the purpose of computation of
expected credit losses for trade receivables and an impairment analysis is performed at each reporting date.
The management has established a credit policy under which each new customer is analysed individually for
credit worthiness before the standard payment and delivery terms and conditions are offered. Credit period
varies from customers to customers and it starts from 10 days. The Company review includes external ratings,
customer’s credit worthiness, if they are available, and in some cases, bank references.
The Company’s customer base comprises of various mutual fund houses and corporates having sound financial
condition. An impairment analysis is performed at each reporting date for invoice wise receivables balances.
c) Cash and cash equivalents and deposits with banks

Cash and cash equivalents of the Company are held with banks which have high credit rating. The Company
considers that the cash and cash equivalents have low credit risk based on the external credit rating of the
counterparties.
d) Investments in mutual funds

The credit risk for investments in mutual funds is considered as negligible as the counterparties are reputable
mutual fund agencies with high external credit ratings.
Financial assets for which loss allowance is measured using lifetime expected credit losses:
March 31, 2021 March 31, 2020
Trade receivables 2,596.76 2,725.42
Security deposits 1,362.03 1,012.35
The movement in the allowance for impairment is as follows:

Particulars Trade Receivables Security Deposits
As at As at As at As at
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Opening Balance 101.40 126.65 21.90 -
Amounts written off - - - -
Net remeasurement of loss allowance 80.87 (25.25) 116.11 21.90
Closing balance 182.27 101.40 138.01 21.90
II. Liquidity Risk:

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities that
are settled by delivering cash or other financial assets. The Company’s approach in managing liquidity is to ensure
that it will have sufficient funds to meet its liabilities. In doing this, management considers both normal and stressed
conditions. The Company also monitors the level of expected cash inflows on trade and other receivables together
with expected cash outflows on trade and other payables.

02-35 37-111 112-230

Exposure to liquidity risk:
The following are the remaining contractual maturities of financial liabilities at the reporting date. All amounts are
gross and undiscounted except for lease liabilities.
Particulars Carrying Contractual cash flows
Amount
Total Less than More than 1
1 year year
31-Mar-21
Financial liabilities:
- Trade Payables 5,201.95 5,201.95 5,201.95 -
- Unpaid Dividend 6,721.86 6,721.86 6,721.86 -
- Lease Liabilities 7,302.65 7,302.65 1,167.49 6,135.16
19,226.45 19,226.45 13,091.29 6,135.16
31-Mar-20
- Trade Payables 3,658.38 3,658.38 3,658.38 -
- Unpaid Dividend - - - -
12,216.54 12,216.54 5,789.24 6,427.30
The following are the remaining contractual cash flows for financial assets at the reporting date. All amounts are
gross and undiscounted.
Amount
1 year year
31-Mar-21
Financial assets:
- Trade receivables 2,414.49 2,414.49 2,414.49 -
- Cash and cash equivalents 1,408.03 1,408.03 1,408.03 -
- ank balances other than cash and cash
B 12,801.72 12,801.72 12,801.72 -
equivalents
- Investments * 13,635.75 13,635.75 13,582.68 53.07
- Loans 1,299.97 1,299.97 401.15 898.82
- Other Financial asset 233.51 233.51 233.51 -
31,793.47 31,793.47 30,841.58 951.89
31-Mar-20
Financial assets:
- ank balances other than cash and cash
B 1,893.77 1,893.77 1,893.77 -
equivalents
- Investments * 19,807.93 19,807.93 19,754.63 53.30
- Loans 1,065.35 1,065.35 57.02 1,008.33
- Other Financial asset 584.22 584.22 564.22 20.00
28,025.60 28,025.60 26,943.97 1,081.63
* Investments does not include investment in subsidiaries which are measured at amortized cost


III. Market Risk:
Market risk is the risk of changes in market prices due to foreign exchange rates, interest rates which will affect the
Company’s income or the value of its financial instruments. The objective of market risk management is to manage
and control market risk exposures within acceptable parameters, while optimising the return.
(i) Currency Risk:

The functional currency of the Company is INR. The Company has transactions in foreign currency for software
license purchases and consultancy charges, which are denominated in USD. The Company has not entered
into any hedges for currency risk. The Company’s foreign currency exposure is limited and is not material to the
size of its operations.
(ii)
Price Risk
Exposure
Price risk is the risk that the value of the financial instrument will fluctuate as a result of changes in market
prices and related market variables including interest rate for investments in debt oriented mutual funds and
debt securities, caused by factors specific to an individual investment, its issuer and market. The Company’s
exposure to price risk arises from diversified investments in mutual funds and classified in the balance sheet at
fair value through profit or loss.
Sensitivity Analysis
The table below summarises the impact of increases/decreases of the Net Asset Value (NAV) on the
Company’s investment in Mutual fund and profit for the period. The analysis is based on the assumption that
the NAV increased by 5% or decreased by 5% with all other variables held constant, and that all the Company’s
investments in mutual funds moved in line with the NAV.
Particulars Sensitivity of Profit or loss

As at As at
March 31, 2021 March 31, 2020
NAV - Increase 5% 679.13 987.73
NAV - decrease 5% (679.13) (987.73)
(iii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. Interest rates are sensitive to many factors, including governmental,
monetary and tax policies, domestic and international economic and political considerations, fiscal deficits,
trade surpluses or deficits, regulatory requirements and other factors beyond the Company’s control. Changes
in the general level of interest rates can affect the profitability by affecting the spread between, amongst
other things, income which Company receives on investments in debt securities, the value of interest-earning
investments, it’s ability to realise gains from the sale of investments. Interest rate risk primarily arises from
floating rate investment. The Company’s investments in floating rate are primarily short-term, which do not
expose it to significant interest rate risk.

02-35 37-111 112-230

Note 36: Share-based payments
A. Description of share-based payment arrangements:

Share option plans (equity settled):
Particulars Batch 1 Batch 2
CXOs Others
Number of options granted 136,651 112,344 433,908
Date of grant April 1, 2019 April 1, 2019 September 1, 2020
Vesting period 10% of options at the end 25% of options at the end 25% of options at the end
of year 1; of year 1; of year 1;
10% of options at the end 25% of options at the end 25% of options at the end
40% of options at the 25% of options at the end 25% of options at the end
year 3; and of year 3; and of year 3; and
year 4. of year 4. of year 4.
Exercise price per share (in Rs.) 614.70 614.70 717.80
Exercise period 4 years from vesting date 4 years from vesting date 4 years from vesting date
Market price per share immediately prior to grant 717.80 717.80 1,234.00
date (in Rs.)
Intrinsic value per share (in Rs.) 103.10 103.10 516.20
The number of options granted is detailed as below:

CXOs Others
Employees of the Company 136,651 79,636 370,747
Employees of CAMS Insurance - 10,672 17,576
Repository Services Limited
Employees of Sterling Software Private - 22,036 45,585
Limited
Total 136,651 112,344 433,908
B. Measurement of fair values

The fair values of the options issued have been arrived at using the Black Scholes Model.
The key inputs used in measurement of fair values at the grant date of share options are as follows:
CXOs Others
Fair value per share of the option (in Rs.) 355.01 338.40 575.01
Share price at grant date 717.80 717.80 1,234.00
Exercise price 614.70 614.70 717.80
Expected volatility 47.90% 47.70% 18.38%
Expected life of the option 5.1 years 4.5 years 4.5 years
Dividend yield 1.80% 1.80% 1.90%
Risk free interest rate per annum 7.50% 7.30% 5.35%
Expect volatility and term of the options are based on an evaluation of the historical prices at which the Company’s shares
were acquired by its investors. The expected term of the instruments is based on general option holder behaviour.


C. Reconciliation of outstanding share options:
The number and weighted average exercise prices of share options are as follows:
Batch 1
Weighted average Number of options Weighted average Number of options
exercise price exercise price
Outstanding at April 1 614.70 236,587 - -
Granted during the period - - 614.70 248,995
Exercised during the period 614.70 31,038 - -
Lapsed during the period 614.70 10,186 614.70 12,408
Outstanding at March 31 614.70 195,363 614.70 236,587
Exercisable at March 31 614.70 42,229 614.70 38,649
Batch 2
Outstanding at April 1 - - - -
Granted during the period 717.80 433,908 - -
Exercised during the period - - - -
Lapsed during the period - - - -
Outstanding at March 31 717.80 433,908 - -
Exercisable at March 31 - - - -
D. Expenses recognised in Statement of Profit or Loss:

For details on the employee benefit expenses, please refer Note 21.
Note 37 : Capital Management

The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The Company monitors the return on capital as well as the level of dividends on its equity
shares. The Company’s objective when managing capital is to maintain an optimal structure so as to maximize shareholder value.
The Company is fully equity financed which is evident from the capital structure. Further, the Company has always been a net
cash company with cash and bank balances along with investment which is predominantly investment in liquid and short term
mutual funds being far in excess of financial liabilities.
Note 38: Remuneration to auditors


Statutory Audit Fee 18.25 18.25
Tax Audit Fee 4.50 4.50
GST audit fees & other certifications 22.75 7.70
Reimbursement of Expenses 0.06 -
Total 45.56 30.45

02-35 37-111 112-230

Disclosures on other work performed by auditors
Additional work entrusted to the statutory auditor is given below:
Services rendered 2020-21 2019-20
Report on the restated financial statements and the related certificates in relation to the initial 45.00 20.00
public offering of the Company’s equity shares by selling shareholder including related out-of-
pocket expenses but excluding applicable taxes.
The remuneration disclosed above has been reimbursed by the selling shareholder and hence does not reflect as charge in
Company’s Statement of Profit and Loss.
Note 39: Provision, contingent liabilities and contingent assets

I. Provision for claims
March 31, 2021 March 31, 2020
Opening Balance as at April 1 6,500.00 6,430.85
Provision made during the year - 69.15
Closing balance as at March 31 6,500.00 6,500.00
II. Contingent liabilities and capital commitments (to the extent not provided for)
March 31, 2021 March 31, 2020
Estimated amount of contracts remaining to be executed on capital account and not 644.32 0.48
provided for
Income Tax matters 159.07 1,420.57
On account of processing errors 32.56 129.00
Others 17.80 17.80
Total 853.75 1,567.85
There are no other amounts required to be disclosed as contingent liabilities on account of pending litigations, other than
the above.
There are no contingent assets resulting from the aforesaid litigation.
Note 40: Covid related impact on our business

Covid-19 pandemic has caused disruption to businesses and economic activity which has been reflected in recent fluctuations
in markets across the globe. The Government of India announced a countrywide lockdown in March 2020 and subsequently
these restrictions were relaxed in a phased manner which led to gradual economic recovery across different sectors. However,
due to the onset of the ‘covid second wave’ and increasing number of cases, lockdown restrictions were imposed by several
state governments which may slow down the economic recovery and affect markets. The extent of impact on Company’s
financial statements will depend on future developments, which at this juncture remains uncertain.
There has been no material change in the controls or processes followed in the closing of the financial statements of the
Company. The Company has assessed the impact of the pandemic on its operations, its liquidity and its assets including the
value of its investments and trade receivables as at March 31, 2021. The management does not, at this juncture, believe
that the impact on the value of the Company’s assets is likely to be material. However, since the revenue of the Company is
ultimately dependent on the value of the assets it services and volume of transaction it handles, changes in market conditions
may have an impact on the operations of the Company. Since the situation is rapidly evolving, its effect on the operations of
the Company may be different from that estimated as at the date of approval of these financial statements. The Company will
continue to closely monitor material changes in markets and future economic conditions.


Note 41:
The Company is in the business of providing data processing and other services to clients which is the primary segment.
As such, the Company’s financial statements are largely reflective of the data processing and other services business and
accordingly there are no separate reportable segments as per Ind AS 108 - Operating Segment.
Note 42:
The Company has completed its initial Public Offering (IPO) of 1,82,46,600 equity shares of face value of Rs.10/- each for
cash at an issue price of Rs.1,230/- per equity share through offer for sale by existing shareholder. As the IPO was through
an Offer for Sale, the Company did not receive any proceeds from the offer. The equity shares of the Company were listed on
BSE Limited on October 1, 2020 and National Stock Exchange from May 7, 2021.
Note 43 (Ind AS 12 Income Taxes) :

Tax reconciliation is provided below for the year ended March 31, 2021:
Particulars Rate
Tax at Statutory Rate 25.2%
Expenses Not deductible 0.4%
Exempt / Non Taxable (Income) / Expenses 0.1%
Income Taxable at lower rate -0.4%
Timing difference disallowances 0.7%
Others (incl. Tax Incentives) -3.5%
Deferred tax asset -0.7%
Total 21.8%
Note 44:
Based on the current assessment of the long-term contracts in the ordinary course of business, the Company has made
adequate provision for losses wherever required. The Company has not entered into any derivative contracts during the year.
Note 45:
Comparative figures have been regrouped/ reclassified wherever necessary to correspond with the current year’s classification
/ disclosure.
Note 46:
All figures reported in the financials statements and related notes are rounded off to nearest lakh.

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-
Date : May 25, 2021 Date : May 25, 2021


02-35 37-111 112-230
Independent Auditor’s Report

To the Members of Computer Age Management Services Limited,
Report on the Audit of the Consolidated Ind AS financial statements
1. Opinion
We have audited the accompanying Consolidated Ind AS financial statements of Computer Age Management Services
Limited (“the Holding Company”),its subsidiary companies (together referred as “Group”) which comprise the Consolidated
Balance Sheet as at March 31, 2021, and the Consolidated Statement of Profit and Loss (including other comprehensive
income), the Consolidated Cash Flow statement and the statement of changes in Equity for the year then ended, and a
summary of significant accounting policies and other explanatory information (hereinafter referred to as “Consolidated Ind
AS financial statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Consolidated
Ind AS financial statements give the information required by the Act in the manner so required and give a true and fair view
in conformity with the accounting principles generally accepted in India, of their consolidated state of affairs of the Group
as at March 31, 2021, of consolidated profit, consolidated changes in equity and its consolidated cash flows for the year
then ended.
2. Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the
Companies act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities
for the Audit of the Consolidated Ind AS financial statements section of our report. We are independent of the Group
in accordance with the Code of Ethics issued by Institute of Chartered Accountants of India together with the ethical
requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013
and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements
and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
3. Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the
consolidated Ind AS financial statements of the current period. These matters were addressed in the context of our audit
of the consolidated Ind AS financial statements as a whole, and in forming our opinion thereon, and we do not provide
a separate opinion on these matters. We have determined the matters described below to be the key audit matter to be
communicated in our report.
No.
1 The holding company generates revenue primarily from data • Evaluating the design of controls and operating
processing services, customer care services and other allied effectiveness of the relevant key controls with respect to
services to its customers. revenue recognition;
Revenue is the most significant account in the Statement of Profit • Evaluated the appropriateness of recognition of revenue
and Loss. based on the requirements of Ind AS 115.
Revenue is recognised in accordance with the agreed terms • Performing substantive testing on samples selected
and conditions of the contract with the respective customers for revenue transactions recorded during the year by
and when it meets the recognition criteria as per Ind AS 115 on verifying the underlying documentation/ records;
“Revenue from contracts with customers”.
• Testing and evaluating the general information technology
i) The revenue recognition process of the Holding Company is controls and key application controls surrounding
dependent on complex information technology systems. revenue recognition;

No.
ii) There exists a risk of revenue not being recognised: • Testing on a sample basis, specific revenue transactions
recorded before and after the financial year end date to
a)
in proportion to the service performed by the holding check revenue recognition in the correct financial period;
company and
b)
on a basis which is inconsistent with the contractual • Carrying out year on year variance analysis on revenue
terms agreed with the client. recognised during the year to identify unusual variance.
c) In a correct period. • Enquired with the key managerial personnel and

executives of the Holding company on the significant
d) considering price revisions/discounts agreed. matters relating to revenue recognition.
Hence, we consider this as a Key Audit Matter. • Evaluated the adequacy of disclosures relating to the
Revenue recognition in the financial statements.
Total revenue recognized during the year 2020-21 is
Rs. 70,549.58 lakhs- Refer Note No.19 of the consolidated
financial statements.
4. Emphasis of Matter
We draw attention to Note No.41 of the Statement wherein the Group has disclosed its Assessment of the Covid-19
pandemic. As mentioned therein, the assessment of the Management does not indicate any material effect on the carrying
value of its assets and liabilities of the group on the reporting date or any adverse change in the ability of the group to
continue as a Going Concern. The assessment of the Management is dependent on the circumstances as they evolve
considering the uncertainties prevailing in the economic situation.
Our opinion is not modified in respect of this matter.
5. Information Other than the Financial Statements and Auditor’s Report Thereon
The Holding Company’s Board of Directors is responsible for the preparation of the other information. The other information
comprises the information included in the Management Discussion and Analysis, Board’s Report including Annexures to
Board’s Report, Business Responsibility Report, Corporate Governance Report and Shareholder’s Information, but does
not include the Consolidated Ind AS financial statements and our auditor’s report thereon.
Our opinion on the Consolidated Ind AS Financial Statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the Consolidated Ind AS Financial Statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the Consolidated Ind
AS Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we
are required to report that fact. We have nothing to report in this regard.
6. Responsibilities of Management for the Consolidated Ind AS financial statements

The Holding Company’s Board of Directors is responsible for the preparation and presentation of these consolidated
Ind AS financial statements in term of the requirements of the Companies Act, 2013 that give a true and fair view of
the consolidated financial position, consolidated financial performance and consolidated cash flows of the Group in
accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards
specified under section 133 of the Act. The respective Board of Directors of the companies included in the Group are
responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding
the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of
appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design,
implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring
accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial

02-35 37-111 112-230
statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which
have been used for the purpose of preparation of the consolidated Ind AS financial statements by the Directors of the
Holding Company, as aforesaid.
In preparing the consolidated Ind AS financial statements, the respective Board of Directors of the companies included in
the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable,
matters related to going concern and using the going concern basis of accounting unless management either intends to
liquidate the Group or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial
reporting process of the Group.
7. Auditor’s Responsibilities for the Audit of the Consolidated Ind AS financial statements
Our objectives are to obtain reasonable assurance about whether the Consolidated Ind AS financial statements as a
whole are free from material misstatements, whether due to fraud or error, and to issue an auditor’s report that includes
our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in
accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or
error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the
economic decisions of users taken on the basis of these Consolidated Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
a) Identify and assess the risks of material misstatement of the Consolidated Ind AS financial statements, whether
due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatements
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.
b) Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for
expressing our opinion on whether the Holding Company and its subsidiaries incorporated in India has adequate
internal financial controls system in place and the operating effectiveness of such controls.
c) Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
d) Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the ability of the Group to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the related disclosures in the Consolidated Ind AS
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the
audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the
Group to cease to continue as a going concern.
e) Evaluate the overall presentation, structure, and content of the Consolidated Ind AS financial statements, including
the disclosures, and whether the Consolidated Ind AS financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.
f) Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities
within the Group to express an opinion on the Consolidated Ind AS financial statements. We are responsible for
the direction, supervision, and performance of the audit of the financial statements of such entities included in the
Consolidated Ind AS financial statements of which we are the independent auditors. For the other entities included

in the Consolidated Ind AS financial statements, which have been audited by other auditors, such other auditors
remain responsible for the direction, supervision, and performance of the audits carried out by them. We remain
solely responsible for our audit opinion.
We communicate with those charged with governance of the Holding Company and such other entities included in the
Consolidated Ind AS financial statements of which we are the independent auditors regarding, among other matters,
the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal
control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be
thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the Consolidated Ind AS financial statements of the current period and are therefore the key
audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure
about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in
our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest
benefits of such communication.
8. Other Matters
We did not audit the financial statements of the foreign subsidiary, whose financial statements reflect total assets of
Rs. 66.98 lakhs as at 31st March, 2021, total revenues of Rs. 41.04 lakhs and net cash inflow amounting to Rs. 55.34
lakhs for the year ended on that date, as considered in the consolidated financial statements. These financial statements
have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on
the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of the
subsidiary, and our report in terms of sub-sections (3) of Section 143 of the Act, insofar as it relates to the aforesaid
subsidiary, is based solely on the reports of the other auditors.
Our opinion on the Consolidated Ind AS financial statements, and our report on Other Legal and Regulatory Requirements
below, is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the
other auditor.
9. Report on Other Legal and Regulatory Requirements

As required by Section 143(3) of the Act, we report, to the extent applicable, that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief
were necessary for the purposes of our audit of the aforesaid Consolidated Ind AS financial statements.
b) In our opinion, proper books of account as required by law relating to preparation of the aforesaid Consolidated Ind
AS financial statements have been kept so far as it appears from our examination of those books and the reports of
the other auditors.
c) The Consolidated Balance Sheet, the Consolidated Statement of Profit and Loss, and the Consolidated Cash Flow
Statement dealt with by this Report are in agreement with the relevant books of account maintained for the purpose
of preparation of the consolidated Ind AS financial statements.
d) In our opinion, the aforesaid consolidated Ind AS financial statements comply with the Accounting Standards
specified under Section 133 of the Act.
e) On the basis of the written representations received from the directors of the Group as on 31st March, 2021 taken
on record by the Board of Directors of the respective companies, none of the directors of the Group is disqualified
as on 31st March, 2021 from being appointed as a director in terms of Section 164 (2) of the Act.

02-35 37-111 112-230
f) With respect to the adequacy of internal financial controls over financial reporting of the Group and the operating
effectiveness of such controls, refer to our separate report in “Annexure A”.
g) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of
section 197(16) of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid
by the Group to its directors during the year is in accordance with the provisions of section 197 of the Act.
h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies
(Audit and Auditor’s) Rules, 2014, in our opinion and to the best of our information and according to the explanations
given to us:
(i) The Group has disclosed the impact of pending litigations on its financial position in its Consolidated Ind AS
financial statements – Refer Note 40 to the Consolidated Ind AS financial statements.
(ii) The Group did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.
(iii) The group is not required to transfer any amount to the Investor Education and Protection Fund..

Sd/-
P. Babu
Partner
Date: May 25, 2021 UDIN: 21203358AAAAJB4481

“Annexure - A” to the Auditors’ Report

Report on the Internal Financial Controls under Clause (i) of Sub-Section 3 of Section 143 of
the Companies, Act, 2013 (“the Act”)
In conjunction with our audit of the Consolidated Ind AS financial statements of the Holding Company as of and for the year
ended March 31, 2021, we have audited the internal financial controls over financial reporting of Computer Age Management
Services Limited (hereinafter referred to as “the Holding Company”) and its subsidiary companies, which are companies
incorporated in India (the Holding Company and its Indian subsidiaries together referred to as “the Group”), as of that date.
Management’s Responsibility for Internal Financial Controls

The respective Board of Directors of the Holding company, its subsidiary companies which are incorporated in India, are
responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting
criteria established by the Group considering the essential components of internal control stated in the Guidance Note on Audit
of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (ICAI)”. These
responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating
effectively for ensuring the orderly and efficient conduct of its business, including adherence to the respective company’s
policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness
of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act,
2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Group’s internal financial controls over financial reporting based on our audit.
We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting
(the “Guidance Note”) issued by the ICAI and the Standards on Auditing, issued by ICAI and deemed to be prescribed under
section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both issued by
the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical
requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls
over financial reporting was established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system
over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included
obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness
exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The
procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the
financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained, and the audit evidence obtained by the other auditors in terms of their
reports referred to in the Other Matters paragraph below, is sufficient and appropriate to provide a basis for our audit opinion
on the Group’s internal financial controls system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting

A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles. A company’s internal financial control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded
as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and
that receipts and expenditures of the company are being made only in accordance with authorisations of management and
directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised
acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

02-35 37-111 112-230
Inherent Limitations of Internal Financial Controls Over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or
improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also,
projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk
that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Holding Company and its subsidiary companies, which are companies incorporated in India, have, in all
material respects, an adequate internal financial controls system over financial reporting and such internal financial controls
over financial reporting were operating effectively as at March 31, 2021, based on the internal control over financial reporting
criteria established by the group considering the essential components of internal control stated in the Guidance Note on Audit
of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India.

Sd/-
P. Babu
Partner
Date: May 25, 2021 UDIN: 21203358AAAAJB4481

Consolidated Balance Sheet

as at March 31, 2021
Particulars Note No. As at As at
March 31, 2021 March 31, 2020
A ASSETS
1 Non-current assets
Property, plant and equipment 4 6,524.12 6,525.21
Right of use assets 4 7,373.59 9,906.30
Goodwill 4 13,359.83 13,359.83
Intangible assets 4 1,144.02 1,107.99
Financial Assets
- Investments 5 53.07 53.30
- Loans & Advances 7 1,098.99 1,280.92
- Other financial assets 8 - 20.00
Deferred tax assets 25 1,016.86 752.88
Other non-current assets 12 296.98 28.93
Total Non-Current Assets 30,867.46 33,035.35
2 Current assets
Financial Assets
- Investments 5 23,553.66 30,560.50
- Trade Receivables 6 2,899.04 3,203.07
- Cash and Cash Equivalents 9 1,742.85 2,322.14
- Bank Balances other than Cash and Cash Equivalents 10 16,282.65 2,723.77
- Loans & Advances 7 451.03 64.65
- Other Financial Assets 8 126.13 571.15
Current Tax Assets 11 751.50 1,504.23
Other Current Assets 12 7,518.74 6,324.79
Total Current Assets 53,325.59 47,274.30
TOTAL ASSETS 84,193.05 80,309.65
B EQUITY AND LIABILITIES
1 Equity
Share Capital 13 4,879.10 4,876.00
Other Equity 14 46,708.07 50,009.64
Equity attributable to owners of the Company 51,587.17 54,885.64
Non-Controlling Interests - -
Total Equity 51,587.17 54,885.64
2 Non-current liabilities
Provisions 18 7,483.12 7,319.95
Deferred Tax Liabilities 25 4.51 234.63
Total Non-Current Liabilities 13,941.29 15,153.42
3 Current liabilities
- Trade Payables
- Total outstanding dues to micro enterprises and small enterprises 15 39.28 68.78
- dues to Others 15 5,249.90 3,539.45
Other Current Liabilities 17 3,703.67 2,973.67
Provisions 18 1,462.33 1,097.42
Current Tax Liabilities 11 25.06 -
Total Current Liabilities 18,664.59 10,270.59
Total Liabilities 32,605.88 25,424.01
Total Equity and Liabilities 84,193.05 80,309.65
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Date : May 25, 2021 Date : May 25, 2021


02-35 37-111 112-230
Statement of Consolidated Profit and Loss

for the year ended March 31, 2021
Particulars Note 2020-21 2019-20
No. In Rs. Lakhs In Rs. Lakhs
I Revenue from operations 19 70,549.58 69,962.99
II Other income 20 2,975.87 2,124.25
III Total revenue 73,525.45 72,087.24
IV Expenses
Employee benefits expense 21 26,236.20 25,802.25
Finance costs 22 790.40 972.39
Depreciation and amortisation expense 4 4,341.32 5,125.08
Operating expenses 23 7,679.08 8,670.20
Other expenses 24 7,032.94 6,833.50
Total expenses 46,079.94 47,403.42
V Profit before tax 27,445.51 24,683.82
VI Tax expense: 25
Current tax 7,439.68 6,542.10
MAT credit written off - 342.64
Current tax expense of earlier years (29.20) -
Net current tax expense 7,410.47 6,884.74
Deferred tax (494.10) 609.86
Net tax expense 6,916.37 7,494.60
VII Profit for the year 20,529.13 17,189.22
VIII Other Comprehensive Income
Items that will not be reclassified to Profit or Loss
- Remeasurements of the defined benefit liabilities / asset 61.00 (132.39)
Income tax relating to items that will not be reclassified to profit or loss (15.35) 33.32
Items that may be reclassified to Profit or Loss
- Exchange differences in translating the financial statements of foreign (3.65) (2.09)
operations
Total Other Comprehensive Income 42.00 (101.16)
IX Total Comprehensive Income 20,571.13 17,088.06
Profit attributable to
- Owners of the Company 20,529.13 17,181.95
- Non-controlling interest - 7.27
Total Comprehensive Income attributable to
- Owners of the Company 20,571.13 17,080.49
- Non-controlling interest - 7.57
X Earnings per share: 27
(a) Basic 42.08 35.24
(b) Diluted 41.93 35.21
Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-
Date : May 25, 2021 Date : May 25, 2021


Consolidated Cash Flow Statement

A. Cash flow from operating activities
Profit / (Loss) before tax 27,445.51 24,683.82
Adjustments for:
Depreciation and amortisation expense 4,341.32 5,125.08
Remeasurements on defined benefit obligation 57.35 (101.16)
(Profit) / loss on sale / write off of assets 66.68 20.91
Expense on employee stock option scheme 867.87 362.10
Finance costs 790.40 972.39
Interest on disputed taxes 22.91 23.04
Interest income (287.08) (170.11)
Dividend income (1.11) (8.72)
Net (gain) / loss on sale of investments (4,378.69) (1,548.13)
Liabilities / provisions no longer required written back (130.79) (98.74)
Adjustments to the carrying amount of investments 2,109.22 (153.90)
Net of Expected Credit loss allowance for trade receivables and 288.23 (14.20)
advances
Gain / loss on lease termination (189.83) -
Operating profit / (loss) before working capital changes 31,001.99 29,092.38
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Trade Receivables 237.35 (491.91)
Other Non-Current Assets (268.04) (122.42)
Loans & Advances (346.57) (8.98)
Other Current Financial Assets 556.56 (564.64)
Other Non Current Financial Assets - (20.00)
Other Current Assets (1,193.95) 765.82
Change in money held in trust (317.07) 1,161.81
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables 1,899.70 103.05
Provisions 528.09 (439.99)
Other Current Financial Liabilities 1.17 0.47
Other Current Liabilities 730.02 (1,329.51)
Cash generated from operations 32,829.26 28,146.08
Net income tax (paid) / refunds (6,670.94) (8,260.19)
Net cash flow from / (used in) operating activities (A) 26,158.32 19,885.89
B. Cash flow from investing activities

Capital expenditure on PPE & intangible assets (2,424.58) (1,514.56)
Proceeds from sale of PPE & intangible assets 17.69 17.56
Bank balances - Fixed deposit maturing over 3 months - (21.34)
Bank deposits including margin money deposits (6,499.95) -
Purchase / Proceeds from sale of current /non-current investments 9,276.53 (5,657.91)
Interest received, increase / (decrease) in accrued interest 89.12 193.39
Investment in subsidiaries (acquisition from NCI) - (1,408.99)
Dividend received 1.11 8.71
Net cash flow from / (used in) investing activities (B) 459.93 (8,383.14)

02-35 37-111 112-230
Consolidated Cash Flow Statement

C. Cash flow from financing activities
Proceeds from issue of equity shares under ESOP scheme 190.78 -
Principal towards lease liabilities (1,669.67) (1,534.59)
Interest on lease liabilities (790.40) (972.39)
Dividends appropriated (including tax on dividend) (24,928.26) (7,159.74)
Net cash flow from / (used in) financing activities (C) (27,197.54) (9,666.72)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) (579.29) 1,836.03
Cash and cash equivalents at the beginning of the year 2,322.14 486.11
Cash and cash equivalents at the end of the year 1,742.85 2,322.14

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Date : May 25, 2021 Date : May 25, 2021


Consolidated Statement of changes in Equity

Statement of changes in Equity For year ended 31st March 2021
Equity Securities Retained General ESOP Other
Share premium earnings reserve Reserve Comprehensive
Capital reserve income
Balance at the beginning of the year 4,876.00 - 39,352.68 11,042.43 362.10 (747.56) 54,885.65
Increase in share capital on account 3.10 - - - - - 3.10
of exercise of ESOP scheme
Remeasurement of Net Benefit - - - - - 42.00 42.00
Premium on shares issued during - 294.96 - - - - 294.96
the year *
Transfer to Securities Premium - - - - (107.28) - (107.28)
Dividend - - (24,928.26) - - - (24,928.26)
ESOP expense amortised during - - - - 867.87 - 867.87
the year
Balance at the end of the year 4,879.10 294.96 34,953.56 11,042.43 1,122.69 (705.56) 51,587.17
Statement of changes in Equity For year ended 31st March 2020

Equity Securities Retained General ESOP Other
Share premium earnings reserve Reserve Comprehensive
Capital reserve income
Balance at the beginning of the year 4,876.00 - 29,902.44 11,042.43 - (646.10) 45,174.77
Remeasurement of Net Benefit - - - - - (101.46) (101.46)
Dividend - - (7,159.74) - - - (7,159.74)
Less: Acquisition of additional stake - - (571.97) - - - (571.97)
in subsidiary - Difference between
NCI and consideration debited to
retained earnings
ESOP expense amortised during the - - - - 362.10 - 362.10
year
Balance at the end of the year 4,876.00 - 39,352.68 11,042.43 362.10 (747.56) 54,885.65

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Date : May 25, 2021 Date : May 25, 2021


02-35 37-111 112-230
Basis of preparation and significant accounting policies

1. Reporting entity has presented the consolidated financial statements in
Computer Age Management Services Limited (‘CAMS’ Indian Rupees (`). All amounts have been rounded-off
to the nearest lakhs upto two decimal places, unless
or ‘Company’) is India’s largest Mutual Fund Transfer
otherwise indicated.
Agency serving over 69% of assets of the Indian
mutual fund industry. As an integral part of the India’s
C. Basis of measurement
financial infrastructure, CAMS has built a reputation as
the leading Transfer Agency to the Asset Management The consolidated financial statements have been
Industry of India and technology enabled service prepared on the historical cost basis except for the
solutions partner to Private Equity Funds, Banks and following assets and liabilities which have been
Non-Banking Finance Companies. measured at fair value:
The Company was incorporated on May 25, 1988 and (i) Certain financial assets and liabilities,
approved to act as Registrar and Transfer Agents to
(ii) Net defined benefit asset / (liability) and
Asset Management Companies by Securities and
Exchange Board of India (SEBI).
(iii) Equity settled share-based payments.
The Company had converted to Public Limited Company
D. Use of estimates and judgements
with effect from 27th September 2019. The Corporate
Identity Number (CIN) issued by Registrar of companies, The preparation of the consolidated financial statements
Chennai, Tamil Nadu is L65910TN1988PLC015757. in conformity with Ind AS requires that management
make judgments, estimates and assumptions that
During the year, the Company has completed its Initial affect the application of accounting policies and the
Public Offering (IPO) through an offer for sale of equity reported amounts of assets, liabilities and disclosures
shares. The equity shares of the Company were listed of contingent assets and liabilities as of the date of the
on BSE Limited on 1st October 2020 and on National consolidated financial statements and the income and
Stock Exchange with effect from 7th May 2021. expense for the reporting period. The Management
believes that these estimates are prudent and
The consolidated financial statements were approved reasonable and are based upon the Management’s
by the Company’s Board of Directors on 25th May 2021. best knowledge of current events and actions as on
each reporting date. Actual results could differ from
2. Basis of preparation those estimates. Appropriate changes in estimates are
made as the Management becomes aware of changes
A. Statement of Compliance
in circumstances surrounding the estimates. Changes
The Consolidated financial statements have been in estimates are reflected in the consolidated financial
prepared in accordance with Indian Accounting statements in the period in which changes are made
Standards (Ind AS) as per the Companies (Indian and, if material, their effects are disclosed in the notes
Accounting Standards) Rules, 2015 notified under to the consolidated financial statements.
Section 133 of Companies Act, 2013, (the ‘Act’) and the
guidelines issued by SEBI. Judgements
Information about judgements made in applying
Accounting policies have been consistently applied accounting policies that have the most significant effects
except where a newly issued accounting standard is on the amounts recognised in the consolidated financial
initially adopted or a revision to an existing accounting statements is included in the following notes:
standard requires a change in the accounting policy
hitherto in use. Note 3(b) – Revenue Recognition
Note 3(c) – Classification of financial assets; assessment
B. Functional and Presentation currency of business model within which the assets are held
Indian Rupee (`) is the Group’s functional currency and and assessment of whether the contractual terms of
the currency of the primary economic environment in financial assets are solely payment of principal and
which the Group operates. Accordingly, the management interest on principal amount outstanding

Note 3(g) – Leases: Whether an arrangement contains (v) Share based payments
a lease; assessment of lease term The Group initially measures the cost of equity settled
transactions with employees using the Black Scholes
Assumptions and estimation uncertainties model to determine the fair value of the options granted.
Information about assumptions and estimation Estimating the fair value of the share options granted
uncertainties that have a significant risk of resulting in a require determination of the most appropriate valuation
material adjustment in the year ending 31st March 2021 model, which is dependent on the terms and conditions
is included in the following notes: of the grant. This estimate also requires determination
of the most appropriate inputs to the valuation model
(i) Fair value measurement of financial instruments including the expected life of the share option, volatility
When the fair value of financial assets and financial and dividend yield and making assumptions about
liabilities recorded in the balance sheet cannot them. The assumptions and models used for estimating
be derived from active markets, their fair value is the fair value for the share based payment transactions
determined using valuation techniques including the are disclosed in Note 36.
discounted cash flow model. The inputs to these models
are taken from observable markets where possible. (vi) Defined benefit plans
Where this is not feasible, a degree of judgement is The obligation from defined benefit plan is determined
required in establishing fair values. The judgement using actuarial valuations. An actuarial valuation
includes considerations of inputs such as liquidity risk, involves making assumptions that may differ from
credit risk and volatility. Further details about fair value actual developments in the future. These include
measurements are disclosed in Note 35. the determination of the discount rate, future salary
increases and mortality rates. Due to the complexities
(ii) Impairment of financial assets involved in the valuation and its long term nature, a
The Group estimates Lifetime expected credit loss defined benefit obligation is highly sensitive to changes
allowance is computed based on historical payment in these assumptions. All assumptions are reviewed at
patterns, customer credit worthiness, and customer each reporting date. Details about the defined benefit
concentrations, adjusted for forward looking information obligations are disclosed in Note 26.
on collection. Further details about the expected credit
loss allowance are disclosed in Note 35. (vii) Provisions and contingencies
The Group estimates the provisions that have present
(iii) Useful life and residual value of property, plant and obligations as a result of past events, and it is probable
equipment and intangible assets that outflow of resources will be required to settle the
Useful lives of property, plant and equipment are obligations. These provisions are reviewed at the end
taken as prescribed in Schedule II of the Act. In of each reporting date and are adjusted to reflect the
case of intangible assets, useful life is estimated by current best estimates.
management taking into account the nature of the asset
and the estimated usage of the asset. Residual value The Group uses significant judgement to disclose
is estimated by management at the time the asset is contingent liabilities. Contingent liabilities are disclosed
acquired and reviewed periodically, including at each when there is a possible obligation arising from past
financial year end. events, the existence of which will be confirmed only
by the occurrence or non-occurrence of one or more
(iv) Impairment of non-financial assets uncertain future events not wholly within the control of
The determination of recoverable amounts of the the Group or a present obligation that arises from past
cash generating units assessed in an impairment test events where it is either not probable that an outflow
requires the Group to estimate their fair values net of resources will be required to settle the obligation,
of disposal costs as well as their value-in-use. The or a reliable estimate of the amount cannot be made.
assessment of value-in-use requires assumptions to be Contingent assets are neither recognised nor disclosed
made with respect to the operating cash flows of the in the consolidated financial statements.
cash generating unit as well as discount rates.

02-35 37-111 112-230
(viii) Income taxes possible. If the inputs used to measure the fair value
The Group establishes provisions based on reasonable of an asset or a liability fall into different levels of the
estimates, for possible consequences of assessment by fair value hierarchy, then the fair value measurement
the tax authorities of the jurisdiction in which it operates. is categorised in its entirety in the same level of the
The amount of provision is based on various factors fair value hierarchy as the lowest level input that is
such as experience of previous tax assessments and significant to the entire measurement.
differing interpretations of tax laws by the taxable entity
and the responsible tax authority. The Group assesses F. Standards issued but not effective
the probability of litigation and subsequent cash outflow Ministry of Corporate Affairs (“MCA”) notifies new
with respect to taxes. standard or amendments to the existing standards.
There is no such notification which would have been
A deferred tax asset is recognized to the extent that it applicable from 1st April 2021.
is probable that future taxable profit will be available
against which the deductible temporary differences G. Classification of assets and liabilities as
and tax losses can be utilized. Accordingly, the current and non-current
Group exercises its judgement to reassess the carrying The Group presents assets and liabilities in the balance
amount of deferred tax assets at the end of each sheet based on current/ non-current classification.
reporting period.
An asset is treated as current when it is:
E. Measurement of fair values
Fair value is the price that would be received from • Expected to be realized or intended to be sold or
sale of an asset or paid to transfer a liability in an consumed in normal operating cycle,
orderly transaction between market participants at the
measurement date. The fair value measurement is • Held primarily for the purpose of trading,
based on the presumption that the transaction to sell
the asset or transfer the liability takes place either: • Expected to be realized within twelve months after
the reporting period, or
• In the principal market for the asset or liability; or
• Cash or cash equivalent unless restricted from
• In the absence of a principal market, in the most being exchanged or used to settle a liability for at
advantageous market for the asset or liability. least twelve months after the reporting period.
The principal or most advantageous market must be All other assets are classified as non-current.
accessible to/ by the Group.
A liability is current when:
Fair values are categorised into different levels in a
fair value hierarchy based on the inputs used in the • It is expected to be settled in normal operating
valuation techniques as follows. cycle,
- Level 1: quoted prices (unadjusted) in active markets • It is held primarily for the purpose of trading
for identical assets or liabilities.
• It is due to be settled within twelve months after the
- Level 2: inputs other than quoted prices included in reporting period, or
Level 1 that are observable for the asset or liability,
either directly (i.e. as prices) or indirectly (i.e. derived • There is no unconditional right to defer the
from prices). settlement of the liability for at least twelve months
after the reporting period.
- Level 3: inputs for the asset or liability that are not based
on observable market data (unobservable inputs). All other liabilities are classified as non-current.
When measuring the fair value of an asset or a liability, Deferred tax assets and liabilities are classified as non-
the Group uses observable market data as far as current assets and liabilities.

The operating cycle is the time between the acquisition vi. CAMS Payment Services Private Limited - The entity
of assets for processing and their realisation in cash was incorporated with the object of carrying out the
and cash equivalents. The Group has identified twelve business of payment aggregator. An application was
months as its operating cycle. made to Reserve Bank of India seeking certificate of
registration for commencing the business operations.
3. Significant accounting policies
a) Basis of Consolidation The financial statements of the aforesaid subsidiaries
Subsidiaries have been consolidated as per Ind AS 110 in the
Consolidated Financial Statements.
Subsidiaries are entities controlled by the Group. The
Group controls an entity when it is exposed to, or has
Name of the Subsidiaries Country of Proportion
rights to, variable returns from its involvement with the
Incorporation of ownership
entity and has the ability to affect those returns through Interest (%)
its power over the entity. The financial statements of
CAMS Insurance India 100.00
subsidiaries are included in the consolidated financial
Repository Services
statements from the date on which control commences Limited #
until the date on which control ceases.
CAMS Investor Services India 100.00
Private Limited
The list of subsidiaries of the Group along with their
business profile: CAMS Financial India 100.00
Information Services
i. CAMS Insurance Repository Services Limited - The Private Limited
entity is one of the Insurance Repositories in India Sterling Software Private India 100.00
licensed by Insurance Regulatory and Development Limited
Authority of India (IRDAI). An Insurance Repository Sterling Software Germany 100.00
helps the policy holders to keep the insurance policies in (Deutschland) GmbH *
electronic form. CAMS Insurance Repository Services
CAMS Payment Services India 100.00
Limited is also business solution partner for insurers Private Limited
in India.
# 79% till May 31, 2019, thereafter 100%.
ii. CAMS Investor Services Private Limited - Promoted
* Sterling Software (Deutschland) GmbH, being the immediate
by CAMS, the entity uses technology in processing,
subsidiary of Sterling Software Private Limited has been
storing and retrieving of KYC documents and interface
consolidated in the financial statements of ultimate holding /
capabilities with intermediaries and other KYC parent Company i.e. Computer Age Management Services
Registration Agencies. Limited.
iii. CAMS Financial Information Services Private

Transactions eliminated on consolidation
Limited - The entity was incorporated with the object
of carrying out the business of Account Aggregator Intra-group balances and transactions, and any
services. The entity has received in-principle approval unrealized income and expenses arising from intra-
and the Company is in the process of taking further step group transactions, are eliminated.
for commencing the business.
Non-controlling Interest (NCI)
iv. Sterling Software Private Limited - The entity is a NCI are measured at their proportionate share of
software enterprise based in Chennai, India, offering the acquiree’s net identifiable assets at the date of
products and services in a range of industries, with its acquisition.
specialty being mutual funds. Sterling Software is the
entity behind the platform / product innovations offered
Changes in the Group’s equity interest in a subsidiary
by CAMS in the mutual fund space in India.
that do not result in a loss of control are accounted as
v. Sterling Software (Deutschland) GmbH - The entity is equity transactions.
a wholly owned subsidiary of Sterling Software Private
Limited incorporated in Germany and is engaged in b) Revenue
the business of providing IT Software services and The Group recognizes revenue from contracts with
consultancy. customers based on the principles set out in Ind AS 115,

02-35 37-111 112-230
Revenue from Contracts with Customers, to determine (ii) Interest Income

when to recognize revenue and at what amount. Interest income or expense is recognized using the
effective interest rate method. The ‘effective interest
Revenue is measured at fair value of the consideration rate’ is the rate that exactly discounts estimated future
received or receivable as per contractual terms. cash payments or receipts through the expected life of
Revenue is recognized when the Group satisfies a the financial instrument to
performance obligation by transferring a promised good
or service (i.e., an asset) to a customer and it is highly - The gross carrying amount of the financial asset;
probable that a significant reversal of revenue is not or.
expected to occur. An asset is transferred when the
customer obtains control of that asset. - The amortized cost of the financial liability.
If the consideration promised in a contract includes a

In calculating interest income and expense, the
variable amount, the Group estimates the amount of
effective interest rate is applied to the carrying
consideration to which it will be entitled in exchange
amount of the asset (when the asset is not credit
for rendering the promised services to a customer.
impaired) or to the amortized cost of the liability.
The amount of consideration can vary because of
However, for financial assets that have become
discounts, credits, price concessions or other similar
credit-impaired subsequent to initial recognition,
items. Revenues are shown net of taxes and applicable
interest income is calculated by applying the effective
discounts and allowances.
interest rate to the amortized cost of the financial
asset. If the asset is no longer credit impaired, then the
Revenue recognition for different heads of income are
calculation of interest income reverts to the gross basis.
as under:
Interest income / expense on financial instruments
at FVTPL is not included in fair value changes but
I) Revenue from rendering of services:
presented separately.
Revenue from data processing services, customer care
services, software development and support services
(iii) Realized and unrealized gain / loss
are recognized based on agreements entered into with
the customers as the services are rendered. Revenue The realized gains / losses from financial instruments
from software application user licenses are recognized at FVTPL represents the difference between original
on transfer of legal title in the user license. In the case cost of purchase and its settlement price. The
of contracts with significant implementation services, unrealized gains / losses represents the difference
revenue is recognized over the period of the contract. between the carrying amount of a financial instrument
Revenue is recognized only to the extent that it is highly at the beginning of the period, or the transaction
probable that a significant reversal will not occur. price if it was purchased in the current reporting period,
and its carrying amount at the end of the reporting
The Group has adopted the output method to measure period.
progress of each performance obligation except for
those contracts where revenue is dependent on the c) Financial Instruments
number of resources deployed. Financial assets and financial liabilities are
recognized when the group becomes a party to
Recoverables represent expenses incurred in relation the contractual provisions of the instruments. All
to services performed that are allocated and recovered financial instruments are recognized initially at fair
from the customers based on the agreed terms and
value, except for trade receivables which are initially
conditions.
measured at transaction price. Transaction costs that
are attributable to the acquisition of the financial asset
II) Recognition of dividend income, interest
(other than financial assets recorded at fair value
income or expense and gains or losses from
through profit or loss) are included in the fair value
financial instruments
of the financial assets. Purchase or sales of financial
(i) Dividend Income assets that require delivery of assets within a time
Dividend income is recognized in the Statement of frame established by regulation or convention in the
Profit and Loss on the date on which the Group’s right market place (regular way trade) are recognized on
to receive dividend is established. the trade date.

For the purpose of subsequent measurement, I) Financial assets

financial instruments of the Group are classified in the (i) Financial assets at amortized cost
following categories:
A financial asset shall be measured at amortized cost if
both of the following conditions are met:
(i) Financial assets at amortized cost,
• The financial asset is held within a business model

(ii) Financial assets (debt instruments) at fair value
through other comprehensive income (FVTOCI), whose objective is to hold financial assets in order
to collect contractual cash flows and
(iii) Equity instruments at FVTOCI and fair value
through profit and loss account (FVTPL), • the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely
(iv) Financial liabilities at amortized cost or FVTPL. payments of principal and interest on the principal
amount outstanding (SPPI).
The classification of financial instruments depends
on the objective of the business model for which it is They are presented as current assets, except for those
held. Management determines the classification of its maturing later than 12 months after the reporting date
financial instruments at initial recognition. which are presented as non-current assets. Financial
assets are measured initially at fair value plus transaction
Business model assessment costs and subsequently carried at amortized cost using
the effective interest method, less any impairment loss.
The Group makes an assessment of the objective of
the business model in which a financial asset is held
Amortized cost are represented by investment in interest
at a portfolio level because this best reflects the way
bearing debt instruments, trade receivables, security
the business is managed, and information is provided
deposits, cash and cash equivalents, employee and
to management.
other advances and eligible current and non-current
assets. Any gain or loss on derecognition is recognized
Assessment whether contractual cash flows are
solely payments of principal and interest in the Statement of Profit and Loss.
For the purposes of this assessment, ‘principal’ is Cash and cash equivalents comprise cash on hand and
defined as the fair value of the financial asset on initial in banks and demand deposits with banks with original
recognition. ‘Interest’ is defined as consideration for the maturity less than 3 months which can be withdrawn at
time value of money and for the credit risk associated any time without prior notice or penalty on the principal.
with the principal amount outstanding during a particular
For the purposes of the cash flow statement, cash
period of time and for other basic lending risks and
and cash equivalents include cash on hand and cash
costs (e.g. liquidity risk and administrative costs),
in banks.
as well as a profit margin. In assessing whether the
contractual cash flows are solely payments of principal (ii) Financial asset at FVTOCI
and interest, the Group considers the contractual terms
A debt instrument shall be measured at fair value
of the instrument. This includes assessing whether the
through other comprehensive income if both of the
financial asset contains a contractual term that could
following conditions are met:
change the timing or amount of contractual cash flows
such that it would not meet this condition. In making this
• he objective of the business model is achieved by
T
assessment, the Group considers:
both collecting contractual cash flows and selling
− ontingent events that would change the amount
C financial assets and
or timing of cash flows;
• he asset’s contractual cash flow represent SPPI
T
− erms that may adjust the contractual coupon rate,
T debt instruments included within FVTOCI category
including variable interest rate features; are measured initially as well as at each reporting
period at fair value plus transaction costs.
− Prepayment and extension features; and
Fair value movements are recognized in Other
− erms that limit the Group’s claim to cash flows
T Comprehensive Income (“OCI”). However, the Group
from specified assets. recognises interest income, impairment losses &

02-35 37-111 112-230
reversals and foreign exchange gain loss in Profit or (ii) Financial liabilities at FVTPL
Loss. On derecognition of the asset, cumulative gain or A financial liability is classified as at FVTPL if it is
loss previously recognized in OCI is reclassified from classified as held for trading, or it is designated as
OCI to profit and loss. Interest earned is recognized such on initial recognition. Financial liabilities at FVTPL
under the expected interest rate (EIR) model. are measured at fair value and net gains and losses,
including any interest expense, are recognized in the
Currently the Group has not classified any interest Statement of Profit or Loss.
bearing debt instrument under this category.
III) Derecognition
(iii) Equity instruments at FVTOCI and FVTPL
Financial assets
All equity instruments are measured at fair value
other than investment in subsidiaries, joint venture The Group derecognizes a financial asset when the
and associate. Equity instruments held for trading are contractual rights to the cash flows from the financial
classified as FVTPL. For all other equity instruments, asset expire, or it transfers the rights to receive the
the Group may make an irrevocable election to present contractual cash flows in a transaction in which
subsequent changes in the fair value in OCI. The substantially all of the risks and rewards of ownership of
Group makes such election on an instrument-by- the financial asset are transferred or in which the Group
instrument basis. neither transfers nor retains substantially all of the risks
and rewards of ownership and does not retain control of
If the Group decides to classify an equity instrument as the financial asset.
at FVTOCI, then all fair value changes on the instrument,
excluding dividend are recognized in OCI which is not If the Group enters into transactions whereby it transfers
subsequently recycled to Profit or Loss. assets recognized on its balance sheet but retains
either all or substantially all the risks and rewards of
If the Group decides to classify an equity instrument as the transferred assets, the transferred assets are not
at FVTPL, then all fair value changes on the instrument derecognized.
and dividend are recognized in Profit or Loss.
Financial liabilities
Currently the Group has not classified any equity The Group derecognizes a financial liability when its
instrument neither at FVTOCI nor at FVTPL. contractual obligations are discharged or cancelled or
expired.
(iv) Financial assets at FVTPL
FVTPL is a residual category for financial assets. Any The Group also derecognizes a financial liability when
financial asset which does not meet the criteria for its terms are modified and the cash flows under the
categorization as at amortized cost or as FVTOCI, is modified terms are substantially different. In this case,
classified as FVTPL. In addition the Group may elect a new financial liability based on the modified terms is
to designate the financial asset, which otherwise meets recognized at fair value. The difference between the
amortized cost or FVTOCI criteria, as FVTPL if doing carrying amount of the financial liability extinguished
so eliminates or significantly reduces a measurement or and the new financial liability with modified terms is
recognition inconsistency. recognized in the Statement of Profit or Loss.
II) Financial liabilities d) Impairment

(i) Financial liabilities at amortized cost (i)
Financial assets carried at amortized cost and
Financial liabilities at amortized cost represented by FVTOCI
trade and other payables are initially recognized at In accordance with Ind AS 109, the Group applies
fair value, and subsequently carried at amortized cost Expected Credit Loss (ECL) model for measurement
using the effective interest method. Interest expense and recognition of impairment loss. The Group follows
and foreign exchange gains and losses are recognized ‘simplified approach’ for recognition of impairment
in the Statement of Profit or Loss. Any gain or loss on loss allowance on trade receivable. The application of
derecognition is also recognized in the Statement of simplified approach does not require the Group to track
Profit or Loss. changes in credit risk. Rather, it recognizes impairment

loss allowance based on lifetime ECLs at each reporting could still be subject to enforcement activities in order
date, right from its initial recognition. For recognition to comply with the Group’s procedures for recovery of
of impairment loss on other financial assets and risk amounts due.
exposure, the Group determines that whether there has
been a significant increase in the credit risk since initial (ii) Impairment of equity investments measured at cost
recognition. If credit risk has not increased significantly, Investments which are measured at cost are tested
12-month ECL is used to provide for impairment loss. for impairment at the end of each reporting period.
However, if credit risk has increased significantly, Any impairment loss is recognized in the statement
lifetime ECL is used. If in subsequent period, credit of profit and loss, if the amount of impairment loss
quality of the instrument improves such that there decreases subsequently then the previously recognized
is no longer a significant increase in credit risk since impairment loss is reversed in the statement of profit
initial recognition, then the entity reverts to recognizing and loss.
impairment loss allowance based on 12 month ECL.
Lifetime ECLs are the expected credit losses resulting (iii) Impairment of non-financial assets
from all possible default events over the expected life of
At each reporting date, the Group reviews the carrying
a financial instrument. The 12 month ECL is a portion of
amounts of its non-financial assets (other than deferred
the lifetime ECL which results from default events that
tax assets) to determine whether there is any indication of
are possible within 12 months after the reporting date.
impairment. If any such indication exists, then the asset’s
Measurement of expected Credit Losses recoverable amount is estimated. For impairment testing,
assets are grouped together into the smallest group of
ECL is the difference between all contractual cash
assets that generates the cash inflows from continuing
flows that are due to the Group in accordance with the
use that are largely independent of the cash inflows of
contract and all the cash flows that the entity expects to
other assets or Cash Generating Units (‘CGU’). The
receive (i.e. all shortfalls), discounted at the original EIR.
recoverable amount of a CGU (or an individual asset) is
When estimating the cash flows, an entity is required
the higher of its value in use and its fair value less costs
to consider:
to sell.
• All contractual terms of the financial instrument
Value in use is based on the estimated future cash
(including prepayment, extension etc.) over the
flows, discounted to their present value using a pre-tax
expected life of the financial instrument. However,
discount rate that reflects current market assessments
in rare cases when the expected life of the financial
of time value of money and the risks specific to the CGU
instrument cannot be estimated reliably, then the
entity is required to use the remaining contractual (or the asset). Where it is not possible to estimate the
term of the financial instrument. recoverable amount of the individual asset, the Group
estimates the recoverable amount of the CGU to which
• Cash flows from the sale of collateral held or the asset belongs. An impairment loss is recognized if
other credit enhancements that are integral to the the carrying amount of an asset or CGU exceeds its
contractual terms. recoverable amount.

Presentation of allowance for expected credit Impairment loss in respect of assets except goodwill
losses in the balance sheet is reversed only to the extent that the assets carrying
amount does not exceed the carrying amount that
Loss allowances for financial assets measured at
would have been determined, net of depreciation or
amortized cost are deducted from the gross carrying
amount of the assets. amortization, if no impairment loss had been recognized
in prior years. A reversal of impairment loss is recognized
Write-off immediately in the Statement of Profit or Loss.
The gross carrying amount of a financial asset is written

e) Property, plant and equipment
off (either partially or in full) to the extent that there is no
realistic prospect of recovery. This is generally the case Recognition and measurement
when the Group determines that the debtor does not Items of property, plant and equipment are measured at
have assets or sources of income that could generate cost, which includes capitalized borrowing costs, less
sufficient cash flows to repay the amounts subject to the accumulated depreciation and accumulated impairment
write‑off. However, financial assets that are written off losses, if any.

02-35 37-111 112-230
Cost of an item of property, plant and equipment depreciated. Depreciation is not recorded on capital
comprises its purchase price, including import duties working-progress until construction and installation is
and non-refundable purchase taxes, after deducting completed and assets are ready for its intended use.
trade discounts and rebates, any directly attributable
cost of bringing the item to its working condition for The estimated useful lives of items of property, plant
its intended use and estimated costs of dismantling and equipment for the current and comparative periods
and removing the item and restoring the site on are as follows:
which it is located. Repairs and maintenance costs
are recognised in the Statement of Profit and Loss Asset Block Management estimate of
when incurred. useful life
Building 60 years
The cost of a self-constructed item of property, plant
Computers 3 to 6 years
and equipment comprises the cost of materials, direct
labor and any other costs directly attributable to bringing Air Conditioners 15 years
the item to working condition for its intended use, and Office Equipment 5 years
estimated costs of dismantling and removing the item Electrical Fittings 10 years
and restoring the site on which it is located.
Furniture & Fixtures 10 years
Advances paid towards the acquisition of property, plant
and equipment outstanding at each Balance Sheet Depreciation method, useful lives and residual values
date is classified as capital advances under other non- are reviewed at each financial year-end and adjusted
current assets and the cost of assets not ready to use if appropriate. Based on technical evaluation and
before such date are disclosed under ‘Capital work-in- consequent advice, the management believes that its
progress’. estimates of useful lives as given above best represent
the period over which management expects to use
If significant parts of an item of property, plant and these assets.
equipment have different useful lives, then they are
accounted for as separate items (major components) of Depreciation on additions (disposals) is provided on a
property, plant and equipment. pro-rata basis i.e. from (upto) the date on which asset is
ready for use (disposed of).
The cost and related accumulated depreciation are
eliminated from the consolidated financial statements f) Intangible assets
upon sale or retirement of the asset and the resultant Initial recognition and measurement
gains or losses are recognized in the Statement of Profit Intangible assets acquired separately are stated at cost
and Loss. of acquisition net of recoverable taxes, accumulated
amortization and impairment losses, if any. Such costs
Any gain or loss on disposal of an item of property, plant include purchase price, borrowing cost, and any cost
and equipment is recognized in the Statement of Profit directly attributable to bringing the asset to its working
or Loss. condition for the intended use, net charges on foreign
exchange contracts and adjustments arising from
Subsequent expenditure
exchange rate variations attributable to the intangible
Subsequent expenditure is capitalised only if it is assets.
probable that the future economic benefits associated
with the expenditure will flow to the Group. Research costs are expensed as incurred. Software
product development costs are expensed as incurred
Depreciation unless technical and commercial feasibility of the project
Depreciation is calculated on cost of items of property, is demonstrated, future economic benefits are probable,
plant and equipment less their estimated residual values the Group has an intention and ability to complete and
over their estimated useful lives using the straight line use or sell the software, and the costs can be measured
method and is recognized in the Statement of Profit reliably. The costs which can be capitalized include the
and Loss except assets individually costing less than cost of material, direct labour and overhead costs that
Rupees five thousand which are fully depreciated in are directly attributable to preparing the asset for its
the year of purchase / acquisition. Freehold land is not intended use.

Subsequent expenditure (iii) The Group has the right to direct the use of
Subsequent expenditure is capitalised only when it the asset.
increases the future economic benefits embodied in the
specific asset to which it relates. All other expenditure, Initial Recognition
including expenditure on internally generated goodwill The Group recognises a right-of-use asset and a lease
and brands, is recognized in the Statement of Profit or liability at the lease commencement date. The right-of-
Loss as incurred. use asset is initially measured at cost, which comprises
the initial amount of the lease liability adjusted for any
Amortization lease payments made at or before the commencement
Amortization is calculated to write off the cost of date, plus any initial direct costs incurred and an estimate
intangible assets less their estimated residual values of costs to dismantle and remove the underlying asset
over their estimated useful lives using the straight-line or to restore the underlying asset or the site on which it
method and is included in depreciation and amortization is located, less any lease incentives received.
in Statement of Profit and Loss.
Certain lease arrangements includes the options to
The estimated useful lives of items of intangible assets extend or terminate the lease before the end of the
for the current and comparative periods are as follows: lease term. ROU assets and lease liabilities includes
these options when it is reasonably certain that they will
Asset Block Management estimate of useful life be exercised.
Software 3 years
Short-term leases and leases of low-value assets
Amortization method, useful lives and residual values The group has elected not to recognise right-of-use
are reviewed at the end of each financial year and assets and lease liabilities for short term leases that
adjusted if appropriate. have a lease term of less than 12 months. The group
recognises the lease payments associated with these
Goodwill leases as an expense on a straight-line basis over the
Goodwill represents the cost of business acquisition in lease term.
excess of the Groups’ interest in the net fair value of
identifiable assets, liabilities and contingent liabilities Subsequent Measurement
of the acquiree on the date of acquisition. Goodwill is Right to use assets are subsequently measured at cost
measured at cost less accumulated impairment losses. less accumulated depreciation and impairment losses.
ROU assets are depreciated from the commencement
Goodwill is not amortised and is tested for impairment date on a straight-line basis over the shorter of the lease
annually. term and useful life of the underlying asset.
g) Leases Lease Modification

As a lessee A lease modification is accounted as a separate lease
The Group’s lease asset classes primarily consist of if the modification increases the scope of the lease by
leases for land and buildings. The Group assesses adding the right-of-use one or more underlying assets
whether a contract contains a lease, at inception of a and the consideration for the lease increases by an
contract. A contract is, or contains, a lease if the contract amount commensurate with the stand-alone price for
conveys the right to control the use of an identified asset the increase in scope and any appropriate adjustments
for a period of time in exchange for consideration. To to that stand-alone price to reflect the circumstances of
assess whether a contract conveys the right to control the particular contract.
the use of an identified asset, the Group assesses
whether: For a lease modification that is not a separate lease,
at the effective date of the modification, the lease
(i) The contract involves the use of an identified asset liability is remeasured by discounting the revised lease
payments using a revised discount rate at that date.
(ii) The Group has substantially all of the economic For lease modifications that decrease the scope of the
benefits from use of the asset through the period lease, the carrying amount of the right-of-use asset is
of the lease and decreased to reflect the partial or full termination of the

02-35 37-111 112-230
lease, and a gain or loss is recognised that reflects the Foreign operations
proportionate decrease in scope. For all other lease The assets and liabilities, including goodwill and fair
modifications, a corresponding adjustment is made to value adjustments arising on acquisition, of foreign
the right-of-use asset.
operations (subsidiaries) whose functional currency
Impairment is a currency other than INR are translated into INR,
the functional currency of the Group, at the exchange
ROU assets are evaluated for recoverability whenever
rates at the reporting date. The income and expenses
events or changes in circumstances indicate that
their carrying amounts may not be recoverable. For of such foreign operations are translated into INR at the
the purpose of impairment testing, the recoverable exchange rates at the dates of the transactions or an
amount (i.e. the higher of the fair value less cost to sell average rate if the average rate approximates the actual
and the value-in-use) is determined on an individual rate at the date of the transaction.
asset basis unless the asset does not generate cash
flows that are largely independent of those from other When a foreign operation is disposed of in its entirety or
assets. In such cases, the recoverable amount is partially such that control is lost, the cumulative amount
determined for the Cash Generating Unit (CGU) to of exchange differences related to that foreign operation
which the asset belongs. recognised in OCI is reclassified to the Statement of
Profit or Loss as part of the gain or loss on disposal. If
Measurement of Lease Liability the Group disposes of part of its interest in a subsidiary
The lease liability is initially measured at amortized but retains control, then the relevant proportion of the
cost at the present value of the future lease payments. cumulative amount is re-allocated to NCI.
The lease payments are discounted using the interest
rate implicit in the lease or, if not readily determinable, i) Employee benefits
using the incremental borrowing rates in the country
(i) Short-term employee benefits
of domicile of these leases. Lease liabilities are
remeasured with a corresponding adjustment to the Short-term employee benefit obligations are measured
related ROU asset if the Group changes its assessment on an undiscounted basis and are expensed as the
of whether it will exercise an extension or a termination related service is provided. A liability is recognised
option. Lease liability and ROU assets have been for the amount expected to be paid e.g., under short-
separately presented in the Balance Sheet and lease term cash bonus, if the Group has a present legal or
payments have been classified as financing cash flows. constructive obligation to pay this amount as a result of
past service provided by the employee, and the amount
h) Foreign currency of obligation can be estimated reliably.
Foreign currency transactions
Transactions in foreign currencies are translated into (ii) Defined contribution plans
the functional currency of the Group at the exchange A defined contribution plan is a post-employment benefit
rates at the dates of the transactions or an average rate plan under which an entity pays fixed contributions into
if the average rate approximates the actual rate at the a separate entity and will have no legal or constructive
date of the transaction. obligation to pay further amounts.
Monetary assets and liabilities denominated in foreign

The Group offers its employees defined contribution
currencies are translated into the functional currency at
plan in the form of provident fund, Superannuation fund
the exchange rate at the reporting date. Non-monetary
and National pension scheme. The Group recognizes
assets and liabilities that are measured at fair value
contribution made towards provident fund and national
in a foreign currency are translated into the functional
currency at the exchange rate when the fair value was pension scheme in the Statement of Profit and Loss.
determined. Non-monetary assets and liabilities that are The Group also contributes to Superannuation Fund
measured based on historical cost in a foreign currency and Pension Fund for its employees who have been
are translated at the exchange rate at the date of the contributing to such funds.
transaction. Exchange differences are recognised in the
Statement of Profit or Loss, except exchange differences The Group makes specified monthly contributions
arising from the translation of equity investments at fair towards Government administered provident fund and
value through OCI, which are recognised in OCI. national fund scheme.

(iii) Defined benefit plans of an annual independent actuarial valuation using the
A defined benefit plan is a post-employment benefit plan projected unit credit method. Remeasurements gains or
other than a defined contribution plan. losses are recognised in the Statement of Profit or Loss
in the period in which they arise.
For defined benefit plans in the form of gratuity fund,
the cost of providing benefits is determined using the (v) Share-based payment transactions
projected unit credit method, with actuarial valuations The Employee Stock Option Schemes of the company
being carried out at the end of each annual reporting provide for grant of options to employees of the Group
period. The contributions made to the fund are recognized to acquire the equity shares of the company that vest
as plan assets. The defined benefit obligation as reduced in a graded manner and that are to be exercised
by fair value of plan assets is recognized on the Balance within a specified period. Equity-settled share-based
Sheet. payments to employees are measured at the fair value
of the equity instruments at the grant date. The fair
When the calculation results in a potential asset for value determined at the grant date of the equity-settled
the Group, the recognised asset is limited to the share based payments are expensed on a straight-line
present value of economic benefits available in the basis over the vesting period, based on the Company’s
form of any future refunds from the plan or reductions estimate of equity instruments that will eventually vest,
in future contributions to the plan (‘the asset ceiling’). with a corresponding increase in equity. At the end of
In order to calculate the present value of economic each reporting period, the company revises its estimate
benefits, consideration is given to any minimum funding of the number of equity instruments expected to vest.
requirements. The impact of the revision of the original estimates, if
any, is recognized in the Statement of Profit or Loss
Remeasurements of the net defined benefit liability, such that the cumulative expense reflects the revised
which comprise actuarial gains and losses, the return on estimate, with a corresponding adjustment to Employee
plan assets (excluding interest) and the effect of the asset Stock Option Reserve account in Reserves & Surplus.
ceiling (if any, excluding interest), are recognised in OCI.
The Group determines the net interest expense (income) In respect of options granted to employees of
on the net defined benefit liability (asset) for the period by subsidiaries, the Company recovers the related
applying the discount rate used to measure the defined compensation cost from the respective subsidiaries.
benefit obligation at the beginning of the annual period
to the then-net defined benefit liability (asset), taking into j) Income taxes
account any changes in the net defined benefit liability Income tax comprises current and deferred tax. It is
(asset) during the period as a result of contributions recognised in the Statement of Profit or Loss except
and benefit payments. Net interest expense and other to the extent that it relates to a business combination
expenses related to defined benefit plans are recognised or to an item recognised directly in equity or in other
in the Statement of Profit or Loss. comprehensive income.
When the benefits of a plan are changed or when a plan Current tax
is curtailed, the resulting change in benefit that relates Current tax comprises the expected tax payable or
to past service (‘past service cost’ or ‘past service receivable on the taxable income or loss for the year
gain’) or the gain or loss on curtailment is recognised and any adjustment to the tax payable or receivable in
immediately in the Statement of Profit or Loss. The respect of previous years. The amount of current tax
Group recognises gains and losses on the settlement of reflects the best estimate of the tax amount expected
a defined benefit plan when the settlement occurs. to be paid or received after considering the uncertainty,
if any, related to income taxes. It is measured using tax
(iv) Other long-term employee benefits rates (and tax laws) enacted or substantively enacted
Compensated absences which are not expected to occur by the reporting date.
within twelve months after the end of the period in which
the employee renders related service are recognized as Current tax assets and current tax liabilities are offset
a liability at the present value of the obligation as at the only if there is a legally enforceable right to set off
Balance Sheet date less fair value of the plan assets the recognised amounts, and it is intended to realise
out of which the obligations are expected to be settled. the asset and settle the liability on a net basis or
The cost of providing benefits is measured on the basis simultaneously.

02-35 37-111 112-230
Deferred tax k) Provisions, Contingent liabilities and

Deferred income tax is recognized using the balance Contingent assets
sheet approach. Deferred tax is recognised in respect of A provision is recognised if, as a result of a past event,
temporary differences between the carrying amounts of the Group has a present legal or constructive obligation
assets and liabilities for financial reporting purposes and that can be estimated reliably, and it is probable that an
the corresponding amounts used for taxation purposes. outflow of economic benefits will be required to settle
the obligation. The amount recognized as a provision is
Deferred tax is not recognized for: the best estimate of the consideration required to settle
-
Temporary differences arising on the initial the present obligation at the balance sheet date, taking
recognition of assets or liabilities in a transaction into account the risks and uncertainties surrounding the
that is not a business combination and that affects obligation.
neither accounting nor taxable profit or loss at the
If the effect of the time value of money is material,
time of the transaction;
provisions are determined by discounting the expected
future cash flows at a pre-tax rate that reflects current
- axable temporary differences arising on the initial
T
market assessment of the time value of money and risks
recognition of goodwill.
specific to the liability. When discounted, the increase in
provision due to the passage of time is recognized as
Deferred income tax asset are recognized to the extent
finance cost.
that it is probable that taxable profit will be available
against which the deductible temporary differences, and
Contingent liabilities are disclosed when there is
the carry forward of unused tax credits and unused tax
a possible obligation arising from past events, the
losses can be utilized. Deferred income tax liabilities are
existence of which will be confirmed only by the
recognized for all taxable temporary differences. occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Group or
The carrying amount of deferred income tax assets is
a present obligation that arises from past events where
reviewed at each reporting date and reduced to the
it is either not probable that an outflow of resources will
extent that it is no longer probable that sufficient taxable be required to settle the obligation or a reliable estimate
profit will be available to allow all or part of the deferred of the amount cannot be made.
income tax asset to be utilized. Deferred income tax
assets and liabilities are measured at the tax rates that A contingent asset is not recognised but disclosed in
are expected to apply in the period when the asset is the consolidated financial statements where an inflow
realized or the liability is settled, based on tax rates of economic benefit is probable.
(and tax laws) that have been enacted or substantively
enacted at the reporting date. Commitments includes the amount of purchase order
(net of advance) issued to counterparties for supplying
Deferred tax assets and liabilities are offset if there is a / development of assets and amounts pertaining to
legally enforceable right to offset current tax liabilities Investments which have been committed but not called
and assets, and they relate to income taxes levied by for.
the same tax authority but they intend to settle current
tax liabilities and assets on a net basis or their tax Provisions, contingent assets, contingent liabilities and
assets and liabilities will be realised simultaneously. commitments are reviewed at each balance sheet date.
Current and deferred taxes are recognized in the Onerous contracts

Statement of Profit or Loss, except when they relate A contract is considered to be onerous when the
to items that are recognized in other comprehensive expected economic benefits to be derived by the Group
income or directly in equity, in which case, the current from the contract are lower than the unavoidable cost of
and deferred taxes are also recognized in other meeting its obligations under the contract. The provision
comprehensive income or directly in equity respectively. for an onerous contract is measured at the present

value of the lower of the expected cost of terminating of the period, unless issued at a later date. Dilutive
the contract and the expected net cost of continuing potential equity shares are determined independently
with the contract. Before such a provision is made, the for each period presented. The number of equity shares
Group recognises any impairment loss on the assets and potentially dilutive equity shares are adjusted
associated with that contract. for bonus shares, consolidation of shares, etc. as
appropriate.
l) Earnings per share
The Group reports basic and diluted earnings per share m) Cash and cash equivalents
in accordance with Ind AS 33 on Earnings per share. Cash and cash equivalents are short-term highly
liquid investments that are readily convertible into
The basic earnings per share is computed by dividing
cash with original maturities of three months or
profit after tax attributable to the equity shareholders
less. Cash and cash equivalents consist primarily
by the weighted average number of equity shares
of cash and deposits with banks.
outstanding during the reporting period.
Diluted earnings per share is computed by dividing the n) Cash flow statement
net profit after tax by the weighted average number of Cash flows are reported using the indirect method,
equity shares considered for deriving basic earnings whereby net profit / (loss) before tax is adjusted for
per share and also weighted average number of equity the effects of transactions of non-cash nature and any
shares that could have been issued upon conversion deferrals or accruals of past of future cash receipts and
of all dilutive potential equity shares. Dilutive potential payments. The cash flows from operating, investing and
equity shares are deemed converted as of the beginning financing activities of the Group are segregated.

Notes forming part of the Consolidated Ind AS financial statements
Note: 4 Property, Plant and Equipment
I. Current year
In Rs. Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
02-35
2 Building 503.48 - - 503.48 215.89 13.79 - 229.68 273.81 287.59

3 Plant & Equipment 519.10 28.88 25.38 522.61 243.35 50.37 22.19 271.53 251.08 275.75
4 Furniture and Fixtures 2,009.41 102.16 177.84 1,933.73 1,386.27 161.57 136.05 1,411.80 521.94 623.14
5 Office Equipments 1,134.39 71.23 87.69 1,117.94 892.45 116.36 77.70 931.10 186.84 241.94
CORPORATE OVERVIEW
6 Computers 10,296.64 1,361.23 211.07 11,446.80 7,805.44 1,126.16 197.15 8,734.44 2,712.35 2,491.20
Total 17,468.24 1,595.74 554.14 18,509.84 10,943.03 1,512.46 469.78 11,985.72 6,524.12 6,525.21
b) Right of Use Assets

In Rs. Lakhs
No. Balance as Additions Disposals/ Balance as Balance as at Depreciation Elimination Balance as Balance as Balance as
37-111
at April 1, Adjustments at March 31, April 1, 2020 Expense for on Disposal/ at March 31, at March 31, at March 31,
of Assets
1 Leasehold 12,254.57 1,323.28 (2,559.09) 11,018.76 2,348.27 2,036.05 (739.15) 3,645.17 7,373.59 9,906.30
STATUTORY REPORTS
improvements
Total 12,254.57 1,323.28 (2,559.09) 11,018.76 2,348.27 2,036.05 (739.15) 3,645.17 7,373.59 9,906.30
In Rs. Lakhs
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as at Depreciation Elimination Balance as Balance as Balance as
at April 1, Adjustments at March 31, April 1, 2020 Expense for on Disposal/ at March 31, at March 31, at March 31,
112-230

of Assets
1 Software 5,070.81 828.83 - 5,899.65 3,962.82 792.81 - 4,755.63 1,144.02 1,107.99
2 Goodwill on 13,359.83 - - 13,359.83 - - - - 13,359.83 13,359.83
FINANCIAL STATEMENTS
Consolidation
Total 18,430.64 828.83 - 19,259.48 3,962.82 792.81 - 4,755.63 14,503.85 14,467.82

Particulars 2020-21

(b) Depreciation on Right of Use assets 2,036.05
197
Total 4,341.32
198
II. Previous Year
In Rs. Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21

2 Building 503.48 - - 503.48 201.41 14.48 - 215.89 287.59 302.07
3 Plant & Equipment 473.40 111.65 65.95 519.10 253.25 47.01 56.91 243.35 275.75 220.15
4 Furniture and Fixtures 2,035.53 75.55 101.67 2,009.41 1,248.86 228.61 91.20 1,386.27 623.14 786.67
5 Office Equipments 1,077.04 98.66 41.48 1,134.22 783.28 147.21 38.21 892.28 241.94 293.76
6 Computers 9,568.35 964.50 236.21 10,296.64 6,715.29 1,311.89 221.76 7,805.44 2,491.20 2,853.06
Total 16,671.38 1,266.91 470.22 17,468.07 9,568.54 1,806.06 431.76 10,942.86 6,525.21 7,102.84
b) Right of Use Assets

In Rs. Lakhs
Sl. Right to use Gross Block Accumulated Depreciation Net Block
No. assets Balance Recognition Additions/ Balance Balance Adjusted Depreciation Elimination Balance Balance Balance
as at of ROU Asset disposals/ as at as at Balance Expense for on Disposal/ as at as at as at
April 1, on initial adjustments March April 1, as at the year Adjustments March March March
2019 application of during the year 31, 2020 2019 April 1, 2019 of Assets 31, 2020 31, 2020 31, 2019
Ind AS 116
1 Leasehold - 12,264.97 (10.40) 12,254.57 - - 2,355.99 (7.72) 2,348.27 9,906.30 -
improvements
Total - 12,264.97 (10.40) 12,254.57 - - 2,355.99 (7.72) 2,348.27 9,906.30 -
In Rs. Lakhs
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as Depreciation Elimination Balance as Balance as Balance as
of Assets
1 Software 4,823.17 247.64 - 5,070.81 2,999.78 963.03 (0.01) 3,962.82 1,107.99 1,823.39
2 Goodwill on 13,359.83 - - 13,359.83 - - - - 13,359.83 13,359.83
Consolidation
Total 18,183.00 247.64 - 18,430.64 2,999.78 963.03 (0.01) 3,962.82 14,467.82 15,183.22

Particulars 2019-20
(b) Depreciation on Right to use asset 2,355.99
Total 5,125.08
02-35 37-111 112-230

Note: 5 Investments
Current Non Current Total Current Non Current Total
In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs In Rs. Lakhs
Designated as Fair Value
Through Profit and Loss
Quoted investments
Investments in Government or - 53.07 53.07 - 53.30 53.30
trust securities
Investments in Mutual fund 23,553.66 - 23,553.66 30,560.50 - 30,560.50
TOTAL INVESTMENTS 23,553.66 53.07 23,606.73 30,560.50 53.30 30,613.80
CARRYING VALUE
Note: 6 Trade receivables

Unsecured, considered good 2,899.04 - 3,203.07 -
Doubtful 191.02 - 142.70 -
3,090.06 - 3,345.77 -
Less: Expected Credit loss allowance 191.02 - 142.70 -
Total 2,899.04 - 3,203.07 -
Note: 7 Financial Assets: Loans & Advances

Security deposits
Unsecured considered good 381.21 1,081.66 - 1,263.04
Doubtful 243.45 5.00 - 26.90
624.66 1,086.66 - 1,289.94
Less: Expected Credit loss allowance 243.45 5.00 - 26.90
381.21 1,081.66 - 1,263.04
Loans and advances to employees
Unsecured considered good 55.56 17.33 61.65 17.88
Other loans and advances
Unsecured considered good 14.26 - 3.00 -
Total 451.03 1,098.99 64.65 1,280.92
Note: 8 Other Financial Assets

Interest accrued, but not due on Fixed Deposits with banks 125.31 - 13.76 -
Fixed deposit with more than 12 months maturity - - - 20.00
Contractually reimbursable payments 0.83 - 557.39 -
Total 126.13 - 571.15 20.00


Note: 9 Cash and Cash Equivalents
March 31, 2021 March 31, 2020
Cash and Bank Balances
Cash on hand 1.69 4.74
Balances with banks
- In current accounts 1,741.16 2,317.40
Total 1,742.85 2,322.14
Note: 10 Bank balances other than cash and cash equivalents

March 31, 2021 March 31, 2020
Balances with banks
- In deposit accounts 5,535.93 985.00
- Balances held as margin money or security against borrowings, guarantees and 2,079.62 110.60
other commitments
Other earmarked accounts
- In NPS collection - 3.19
- In ECS Collection 1,914.46 1,624.98
- In Stamp Duty Collection 30.78 -
Unpaid / Unclaimed Dividend Account * 6,721.86 -
Total 16,282.65 2,723.77
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020 and therefore, the specified amount is kept
in a separate bank account.
Note: 11 Net Current Tax Assets / (Liabilities)

Advance Tax & TDS (Net of Provision for tax amounting to 751.50 - 1,504.23 -
Rs. 50,305.38 Lakhs, March 2020 : Rs. 44,936.25 Lakhs)
Provision for tax (Net of Advance tax and TDS amounting to (25.06) - - -
Rs. 425.72 Lakhs)
Net Current Tax Assets / (Liabilities) 726.44 - 1,504.23 -
Note: 12 Other assets

Capital Advances - 243.97 - 0.16
Advance to suppliers 361.80 - 351.41 -
Accrued Income 6,194.80 - 5,207.79 -
Balances with government authorities (other than income taxes) 17.41 - - -
Prepayments 933.82 53.00 731.62 28.77
Employee benefits asset (net) 10.90 - 33.97 -
Total 7,518.74 296.98 6,324.79 28.93

02-35 37-111 112-230

Note: 13 Share Capital
Number of Value Number of Value
shares (Rs. in Lakhs) shares (Rs. in Lakhs)
Authorised
Issued
Subscribed and fully paid up
Total issued, subscribed and paid up share capital 48,791,038 4,879.10 48,760,000 4,876.00
Notes:
Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the year:
Particulars Opening ESOP Others Closing

Balance exercised Balance
Equity shares with voting rights
Year ended 31 March 2021
- Number of shares 48,760,000 31,038 - 48,791,038
- Amount (In Rs. Lakhs) 4,876.00 3.10 - 4,879.10
Year ended 31 March 2020
- Number of shares 48,760,000 - - 48,760,000
- Amount (In Rs. Lakhs) 4,876.00 - - 4,876.00
Details of shares held by each shareholder holding more than 5% shares:

Number of % holding in Number of % holding in
shares held that class of shares held that class of
shares shares
Great Terrain Investment Limited 15,115,600 30.98% 21,224,000 43.53%
Housing Development Finance Corporation Ltd 2,920,724 5.99% 2,920,724 5.99%
Smallcap World Fund, Inc. 2,903,879 5.95% - 0.00%
NSE Investments Limited - 0.00% 18,285,000 37.50%
Note: 14 Other Equity

March 31, 2021 March 31, 2020
Securities premium account
Opening balance - -
Add : Premium on shares issued during the year under ESOP Scheme* 294.96 -
ESOP Reserve
Opening balance 362.10 -
Add: Expense amortised during the year 867.87 362.10
Less: Transferred to Securities premium account on exercise of ESOP options* (107.28) -
Closing balance 1,122.69 362.10
General reserve


March 31, 2021 March 31, 2020
Other Comprehensive Income
Opening balance (747.56) (646.10)
OCI recognised during the year 42.00 (101.46)
Closing balance (705.56) (747.56)
Surplus / (Deficit) in Statement of Profit and Loss
Add: Profit / (Loss) for the year 20,529.13 17,181.95
Less: Dividends to equity shareholders (including Dividend tax) (24,928.26) (7,159.74)
Less: Acquisition of additional stake in subsidiary - Difference between NCI and - (571.97)
consideration debited to retained earnings
Total 46,708.07 50,009.64
Note: 15 Trade payables

Total Outstanding dues to Micro, Small and Medium Enterprises 39.28 - 68.78 -
Total Outstanding dues to Others 1,609.91 - 758.67 -
Claims Payable 730.76 - 440.27 -
Expenses Payable 2,909.23 - 2,340.52 -
Total 5,289.18 - 3,608.23 -
Note: 16 Other Financial Liabilities

Lease liabilities 1,460.85 6,453.66 2,590.81 7,598.84
Unclaimed / Unpaid dividends* 6,721.86 - - -
Others - staff medical insurance 1.64 - 0.47 -
Total 8,184.35 6,453.66 2,591.28 7,598.84
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020.
Note: 17 Other Current Liabilities

Statutory Liabilities
- taxes payable (other than income taxes) 1,318.35 - 940.02 -
- Employees and Employer Contributions 209.95 - 201.46 -
Income Received in Advance 14.94 - 51.01 -
Unearned revenue 31.93 - - -
Other payables 188.22 - 153.01 -
Others - Money held in trust 1,940.28 - 1,628.17 -
Total 3,703.67 - 2,973.67 -

02-35 37-111 112-230

Note: 18 Provisions
Provision for employee benefits:
Provision for Gratuity (net) 42.50 608.33 36.38 454.45
Provision for other employee benefits 1,419.83 - 1,061.04 -
Provision - Others:
Provision for claims - 6,874.79 - 6,865.50
Total 1,462.33 7,483.12 1,097.42 7,319.95
Note: 19 Revenue from operations

Revenue from rendering of services 70,549.58 69,962.99
Total 70,549.58 69,962.99
Revenue from rendering of services comprises

Data processing 58,464.90 55,339.20
Customer Care services 4,570.95 6,254.89
Recoverables 3,408.91 3,625.52
Miscellaneous services 3,605.15 3,878.50
Software license fee, development & support services 499.67 864.88
Total 70,549.58 69,962.99
Note: 20 Other income

Interest Income
- On Bank deposits and interest from NHAI bond 200.67 80.69
- On Financial Assets at Amortised Cost 86.41 89.42
- On Income Tax Refund 23.58 -
Dividend Income
- Others 1.11 8.72
Net Gain / (Loss) On sale of investments 4,378.69 1,548.13
Net gain/(loss) arising on financial assets designated as at FVTPL (2,109.22) 153.90
Miscellaneous Income 74.01 36.19
Gain on termination of lease contract 189.83 0.22
Provision for disputed taxes - Written back - 98.74
Liabilities No Longer payable Written back 130.79 108.24
Total 2,975.87 2,124.25


Note: 21 Employee benefits expense
Salaries and wages, including bonus 19,126.78 18,604.26
Contributions to provident and other funds 1,643.62 1,725.05
Share based payment transactions expenses
- Equity-settled share-based payments 867.87 362.10
Staff welfare expenses 434.84 631.83
Manpower Charges 4,163.09 4,479.01
Total 26,236.20 25,802.25
Note: 22 Finance costs

Interest on Lease liabilities 790.40 972.39
Total 790.40 972.39
Note: 23 Operating Expenses

Service expenses 3,408.91 3,702.45
Data entry charges 526.36 647.43
Customer Service Centre Charges 1,281.43 1,301.45
Claims 520.59 1,370.94
Software expenses 1,941.78 1,647.93
Total 7,679.08 8,670.20
Note: 24 Other Expenses

Lease rent 155.19 115.31
Power and fuel 626.15 864.16
Repairs and Maintenance 1,350.57 1,417.12
Insurance 245.26 192.97
Rates and taxes 159.98 61.70
Communication 1,429.72 1,546.73
Travelling and conveyance 397.23 673.56
Printing and stationery 194.15 203.31
Business promotion 160.94 152.69
Expenditure on Corporate Social Responsibility 479.23 432.70
Payments to auditors (refer note no 39) 53.04 37.48
Legal and professional 1,018.05 932.16
Director's Sitting Fees 70.50 48.10
Net loss on foreign currency transactions and translation (2.47) 1.07
(Profit) / Loss on fixed assets sold / scrapped / written off 66.68 20.91
Provision for doubtful debts and advances 269.87 (17.80)
Inter operability expenses 216.14 -
Bad debts 18.36 3.60
Miscellaneous expenses 124.35 147.74
Total 7,032.94 6,833.50

02-35 37-111 112-230

Note: 25 Current Tax and Deferred Tax
(a) Income Tax Expense
Current Tax:
Current Income Tax Charge 7,439.68 6,542.10
Adjustments in respect of prior years (29.20) -
MAT credit written off - 342.64
Deferred Tax - Debit / (Credit)
In respect of current year origination and reversal of temporary differences (494.10) 609.86
Total Tax Expense recognised in statement of profit and loss 6,916.37 7,494.60
(b) Income Tax on Other Comprehensive Income

Current Tax
On Items will not be reclassified to Profit and Loss
Remeasurements of defined benefit liabilities / (asset) 15.35 (33.32)
Total 15.35 (33.32)
(c) Deferred Tax

In Rs. Lakhs
Deferred Tax Asset (Net) As at March 31, 2021 As at March 31, 2020
Opening Transferred Recognised Closing Opening Recognised Closing
Balance from DTL in profit and Balance Balance in profit and Balance
Loss Loss
deferred tax liabilities / reversal
of deferred tax liabilities
Property, Plant and Equipment 1,905.05 181.80 675.56 1,411.29 (277.50) (2,182.53) 1,905.04
FVTPL financial asset 271.23 156.27 170.36 257.14 - (271.23) 271.23
Sub Total (A) 2,176.28 338.08 845.92 1,668.43 (277.50) (2,453.76) 2,176.26
deferred tax assets / reversal of
deferred tax assets
Employee Benefits 281.97 10.33 (57.83) 350.13 419.75 137.78 281.97
Lease liabilities 2,356.06 27.71 572.62 1,811.16 - (2,356.04) 2,356.04
Other Items 291.12 208.49 (24.40) 524.00 377.37 86.24 291.13
Sub Total (B) 2,929.16 246.52 490.39 2,685.29 797.12 (2,132.03) 2,929.14
Net Deferred Tax Asset / 752.88 (91.55) (355.53) 1,016.86 1,074.62 321.73 752.88
(Liabilities) (B-A)


In Rs. Lakhs
Deferred Tax Liability (Net) As at March 31, 2021 As at March 31, 2020
Opening Transferred Recognised Closing Opening Recognised Closing
Balance from DTL in profit and Balance Balance in profit and Balance
Loss Loss
deferred tax liabilities / reversal
of deferred tax liabilities
Property, Plant and Equipment 180.37 (181.80) (0.41) (1.02) (14.53) (194.90) 180.37
FVTPL financial asset 307.54 (156.27) 135.70 15.57 - (307.55) 307.55
Sub Total (A) 487.91 (338.08) 135.29 14.54 (14.53) (502.45) 487.91
deferred tax assets / reversal of
deferred tax assets
Employee Benefits 11.95 (10.33) 1.18 0.45 11.59 (0.36) 11.95
Lease liabilities 32.84 (27.71) (4.46) 9.58 27.38 (5.47) 32.84
Minimum Alternate Tax Credit - - - - 342.63 342.63 -
Other Items 208.49 (208.49) - - - (208.49) 208.49
Sub Total (B) 253.28 (246.52) (3.28) 10.03 381.60 128.32 253.28
Net Deferred Tax Asset / (234.63) 91.55 (138.57) (4.51) 396.13 630.77 (234.63)
(Liabilities) (B-A)
Note 26: Employee Benefits

(Rs in Lakhs, unless otherwise stated)
I. Defined Contribution Plans
Provident Fund:
The Group makes contribution towards Provident Fund for its employees. The Group’s contribution is deposited with the
Government under the provisions of Employees’ Provident Fund and Miscellaneous Provisions Act 1952. The contribution
made by the Group is at the rate specified under this Act.
Others:
The Group makes contribution for Employee State Insurance and National Pension Scheme for its employees. All such
contributions are deposited with the Government. The Group also contributes to Superannuation Fund and Pension Fund
for its employees who have been contributing to such funds.
During the year, the Group recognised the following amounts in the Statement of Profit or Loss (included in Note 21:
Employee Benefit Expenses.
Contribution to Provident Fund 488.19 540.01
Contribution to Employee State Insurance 150.43 178.40
Contribution to Superannuation Fund 18.76 20.34
Contribution to Pension Fund 508.12 534.03
Contribution to National Pension Scheme 36.14 37.24
Total 1,201.65 1,310.02
II. Defined Benefit Plans

March 31, 2021 March 31, 2020
Net defined benefit liability / (asset) - Gratuity plan 146.52 60.42
Other long term employee benefits liability / (asset) - leave encashment 97.40 24.50
Total employee benefit liabilities 243.92 84.91

02-35 37-111 112-230

The Group has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act 1972. This gratuity plan
entitles an employee, who has rendered atleast 5 years of continuous service to gratuity, at the rate of 15 days wages
for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by the
employee concerned.
A. Funding
The gratuity plan is fully funded by the Group. The funding requirements are based on a separate actuarial valuation
within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.

The following table shows a reconciliation from the opening balances to the closing balances for the net defined
benefit (asset)/ liability and its components:
Reconciliation of present value of defined benefit obligation:

March 31, 2021 March 31, 2020
- changes in demographic assumptions (2.09) (15.40)
March 31, 2021 March 31, 2020
Non-Current 2,440.33 2,149.96
Current 212.36 187.00
Total 2,652.69 2,336.96

March 31, 2021 March 31, 2020
Net defined benefit (asset)/ liability 146.52 60.42
Total 321.99 295.45


ii. Remeasurements recognised in OCI
Actuarial (gains)/ losses on defined benefit obligation (63.44) 165.71
Return on plan assets , excluding amount recognised in net interest expense 29.83 -
Total (33.60) 165.71
D. Plan Assets
March 31, 2021 March 31, 2020
Investment with Insurers 100% 100%

March 31, 2021 March 31, 2020
31-45 years - 10% 31-45 years - 10%

31-Mar-21
31-Mar-20

The Group’s best estimate of Contribution during the next year is Rs. 511.14 lakhs

02-35 37-111 112-230

Weighted average duration (based on discounted cashflows) is 8 years
(INR)
1 year 212.35
2 to 5 year 955.18
6 to 10 year 1,221.95
More than 10 year 2,725.26

which may vary over time. Thus, The Group is exposed to various risks in providing the above gratuity benefit
Interest Rate risk: The plan exposes the Group to the risk of fall in interest rates. A fall in interest rates will
Liquidity Risk: This is the risk that the Group is not able to meet the short-term payouts. This may arise due
to non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.
bearing on the plan’s liabilty.
Demographic Risk: The Group has used certain mortality and attrition assumptions in valuation of the liability.
The Group is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,
1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts
(e.g. Increase in the maximum limit on gratuity of Rs. 20,00,000).
Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of
assets, exposing the Group to market risk for volatilities/fall in interest rate.
III. Other long term employee benefits - Compensated absences (Leave encashment):
A. Funding
The leave encashment plan is fully funded by the Group. The funding requirements are based on a separate actuarial
valuation within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.

The following table shows a reconciliation from the opening balances to the closing balances for the net (asset)/
liability and its components:


Reconciliation of present value of obligation:
March 31, 2021 March 31, 2020
Past service gain - -
Actuarial (gains)/ losses
- changes in demographic assumptions (0.25) (1.43)
March 31, 2021 March 31, 2020
Non-Current 641.43 534.22
Current 74.92 65.23
Total 716.35 599.45

March 31, 2021 March 31, 2020
Return on plan assets, excluding amount recognised in net interest expense (18.45) 0.18
Net (asset)/ liability 97.40 24.50
Past service gain - -
Return on plan assets excluding interest income 10.49 -
Actuarial (gains)/ losses (0.23) 14.06
Total 171.97 132.93
D. Assets
March 31, 2021 March 31, 2020
Investment with Insurers 100% 100%

02-35 37-111 112-230

March 31, 2021 March 31, 2020
31-45 years - 10% 31-45 years - 10%

31-Mar-21
31-Mar-20
iii. Expected Contribution during the next annual reporting period
The Group’s best estimate of Contribution during the next year is Rs. 274.30 lakhs
Weighted average duration (based on discounted cashflows) is 8 years
(INR)
1 year 74.93
2 to 5 year 271.76
6 to 10 year 299.48
More than 10 year 755.66

which may vary over time. Thus, The Group is exposed to various risks in providing the above gratuity benefit
Interest Rate risk: The plan exposes the Group to the risk of fall in interest rates. A fall in interest rates will


Liquidity Risk: This is the risk that the Group is not able to meet the short-term payouts. This may arise due
to non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.
bearing on the plan’s liabilty.
Demographic Risk: The Group has used certain mortality and attrition assumptions in valuation of the liability.
The Group is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of
assets, exposing the Group to market risk for volatilities/fall in interest rate.
Note 27: Earnings per share

A. Basic Earnings per share
The calculations of profit attributable to equity shareholders and weighted average number of equity shares outstanding
for calculation of Basic EPS are as follows:
i. Profit or loss attributable to equity shareholders (basic)

Profit attributable to the equity shareholders 20,529.13 17,181.95
ii. Weighted average number of equity shares (basic)

Opening Balance 48,760,000 48,760,000
Weighted average number of equity shares issued during the year upon exercise of 21,986 -
ESOP.
Weighted average number of equity shares for the year 48,781,986 48,760,000
Basic EPS 42.08 35.24
B. Diluted Earnings per share

The calculations of diluted earnings per share based on profit attributable to equity shareholders and weighted average
number of equity shares outstanding, after adjustment for the effects of all dilutive potential equity shares, are as follows:
i. Profit or loss attributable to equity shareholders (diluted)

Profit attributable to the equity shareholders (Basic) 20,529.13 17,181.95
Adjustment with respect to dilutive potential equity shares - -
Profit attributable to the equity shareholders (Diluted) 20,529.13 17,181.95

02-35 37-111 112-230

ii. Weighted average number of equity shares (diluted)
Face Value per share in Rs. 10.00 10.00
Weighted average number of equity shares (basic) 48,781,986 48,760,000
Dilutive effect of outstanding stock options 183,301 33,982
Weighted average number of equity shares (diluted) for the year 48,965,288 48,793,982
Diluted EPS 41.93 35.21
Note 28: Dividend per share

The Board of Directors declared:
i) First interim dividend of Rs. 7.90 per share in its meeting held on 10 May 2020,
ii) Second interim dividend of Rs. 3.25 per share in its meeting held on 16 June 2020,
iii) Third interim dividend of Rs. 25.60 in its meeting held on 10 August 2020.
iv) Fourth interim dividend of Rs. 6.75 in its meeting held on 11 November 2020.
v) Fifth interim dividend of Rs. 7.60 in its meeting held on 11 February 2021.
Total Dividend Paid (excluding tax on dividend) 24,928.26 5,938.97
Dividend Tax - 1,076.62
No of equity shares 48,791,038 48,760,000
Dividend per share 51.09 12.18
The board of directors at its meeting held on 25 May 2021 have proposed a final dividend of Rs. 11.84 per equity share,
subject to approval by shareholders at ensuing annual general meeting.
Note 29: Disclosures required under Section 22 of the Micro, Small and Medium Enterprises
Development Act, 2006
The Management has identified enterprises which have provided goods and services to the Group and which qualify under the
definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of amounts payable to such enterprises as at 31st March 2021 has been made based
on the information available with the Group. Further, in the view of the Management, the impact of interest, if any, that may be
payable in accordance with the Act is not expected to be material. The Group has not received any claim for interest from any
supplier under this Act.
The information has been determined to the extent such parties have been identified on the basis of information available with
the Group. Auditors have placed reliance on such information provided by the Management.
March 31, 2021 March 31, 2020
Principal amount remaining unpaid to MSME suppliers as at the end of the year 39.28 68.78
Interest due on unpaid principal amount to MSME suppliers as at the end of the year - -
Amount of interest paid along with the amounts of the payment made to the MSME suppliers - -
beyond the appointed day
Amount of interest due and payable for the year (without adding the interest under the Act) - -
Amount of interest accrued and remaining unpaid as at the end of the year - -
Amount of further interest due and payable even in the succeeding year, until such date when the - -
interest dues as above are actually paid


Note 30: Transactions in foreign currency
i. Earnings:
Software development income 15.75 132.83
Other income (Out of pocket expense recovered from clients) - 4.96
Total 15.75 137.79
ii. Expenditure:
Software procurement and maintenance expenses 264.60 247.61
Service charges - Support service 11.13 1.56
Total 275.73 249.17
Note 31: Related parties

A. Names of related parties and nature of relationship:
I. Entities having control/ significant influence/ joint venture relationships:
NSE Investments Limited (Formerly known as NSE Strategic Shareholder having significant influence over the company
Investment Corporation Limited)*** (upto 04th February 2020)
National Stock Exchange of India Limited *** Parent Company of NSE Investments Limited
(upto 04th February 2020)
Great Terrain Investment Limited Shareholder having significant influence over the company
Housing Development Finance Corp Ltd ** Shareholder having significant influence over the company
(upto 30th September 2020)
HDFC Bank Ltd (upto 30th September 2020) ** Shareholder having significant influence over the company
HDB Employee Welfare Trust (upto 30th September 2020) ** Shareholder having significant influence over the company
Harmony River Investment Limited Parent Company of Great Terrain Investment Limited
*** Based on SEBI communication dated 04th February 2020 and NSE communication dated 26th February 2020, NSE Investments
Limited had significant influence over the company only upto 4th February 2020, the group companies of NSE Investments Limited
are also considered as related parties only upto 4th February 2020.
‘** HDFC Bank Ltd will not be classified as related parties exercising significant influence over the company from 1st October 2020
consequent to the Shareholder Agreement ceasing to be in existence and listing of the company on the above date.
II. Related Group Companies of entities covered above:

NSE Data & Analytics Limited *** Group Entity of NSE India Limited
NSE Clearing Limited (Formerly known as National Group Entity of NSE India Limited
Securities Clearing Corporation Limited) ***
III. Key Management Personnel (KMP):

Mr Vedanthachari Srinivasa Rangan Non Executive and Non Independent Director
Mr Narendra Ostawal Nominee Director - CAMS
Mr Zubin Soli Dubash Nominee Director - CAMS
Mr Hoshang Noshirwan Sinor Nominee Director (upto 6th December 2019)
Mr David Alan Coulter Nominee Director (upto 6th December 2019)

02-35 37-111 112-230

Mr Jagannathan Ravichandran Nominee Director (upto 6th December 2019)
Mr Mukesh Agarwal Nominee Director (from 17th December 2019 to 17th February 2020)
Mr Ramabadran Narayanan Director (upto 18th October 2019) - CAMS Rep
Mr Raghavan Putran Director (upto 18th October 2019) - SSPL
Mr Muthukrishnan Venkataraman Director (upto 26th August 2019) - SSPL
Mr Anuj Kumar Whole time Director and Chief Executive Officer
Mr M Somasundaram Chief Financial Officer
Mr G Manikandan Company Secretary and Compliance Officer
B. Transactions with Related Parties

Transaction Related Parties 2020-21 2019-20
I. Income
Fee for services National Stock Exchange of India Limited *** 302.61
NSE Data & Analytics Limited *** 0.33
II. Expenses
Remuneration and other Short Mr Anuj Kumar 337.85 319.27
term employment benefits Mr M Somasundaram 134.90 130.21
Share based payments Mr Anuj Kumar 196.92 88.75
Sitting fees paid NSE Investments Limited *** 7.50
Mr Hoshang Noshirwan Sinor - 7.30
Mr Vedanthachari Srinivasa Rangan 13.50 10.50
Mr. Ramabadran Narayanan - 1.80
Mr Raghavan Putran - 2.10
Mr Muthukrishnan Venkataraman - 0.90
Interoperability expenses NSE Data & Analytics Limited *** 8.85
Dividend paid Mr Anuj Kumar 2.88 -
Housing Development Finance Corporation Ltd (upto 1,073.37 355.74
30th September 2020)
HDFC Bank Ltd (upto 30th September 2020) 596.71 197.77
HDB Employee Welfare Trust (upto 30th September 571.63 189.45
2020)
NSE Investments Limited *** 2,227.11
Great Terrain Investment Limited 9,968.91 2,585.08
Note :
(a) Information relating to remuneration paid to KMP excludes:
(i) provision made for gratuity and leave encashment which are based on an actuarial valuation for employees on an overall
basis, and
(ii) perquisites on ESOP exercise.
(b) Leave encashment is included to the extent of payouts made to the KMP.


C. Related Party Balances
Particulars Related Parties As at As at
March 31, 2021 March 31, 2020
Balance in Current Accounts HDFC Bank Ltd ** 2,423.33
Balance in Deposits Accounts HDFC Bank Ltd ** 950.60
Trade Receivables National Stock Exchange of India Limited *** 48.85
Trade Payables NSE Data & Analytics Limited *** -
All transactions with related parties are on arm’s length basis.
Note 32: Corporate Social Responsibility


Amount required to be spent by the Group during the year 478.52 432.11
Amount spent during the year (in cash)
(i) Construction/ acquisition of any asset - -
(ii) On purposes other than (i) above 479.23 432.70
Total (i) + (ii) 479.23 432.70
Note 33: Leases

The Group has entered into operating lease agreements for office spaces and printers/photocopiers.
Office spaces taken on lease (Leasehold improvements):

Office spaces in around 100 locations across India have been taken on lease. Lease payments are made monthly and include
specified amenities. The Group has effective control over these office spaces as the Group will be renovating or building
temporary erections as and when required. The lease term ranges from 11 months to 9 years.
Printers, Photo copiers and others:

The Group has applied the exemption in Ind AS 116 for leases of low value assets and has not applied the new standard for
leases of printers and photocopiers. Also, the consideration paid for such leases include both rental and maintenance charges.
For these leases, the lease expenses are accounted on a straight-line basis (based on actual payments) over the lease term.
A. Right of Use Assets:

March 31, 2021 March 31, 2020
Intital recognition - 12,264.97
Additions during the year 1,323.28 -
Depreciation charge for the year 2,036.05 2,355.99

02-35 37-111 112-230

B. Lease Liability:
March 31, 2021 March 31, 2020
Intital recognition - 10,325.81
Additions during the year 1,156.33 1,401.12
Interest expenses for the year 790.40 972.39
Lease payments during the year (2,332.46) (2,506.76)
C. Amounts recognised in Statement of Profit or Loss:

Interest on lease liabilities 790.40 972.39
Expenses relating to leases of low-value assets and short term leases 155.19 115.31
Depreciation on Right to Use asset 2,036.05 2,355.99
Gain or loss on termination of lease 189.83 0.22
Total 3,171.46 3,443.91
D. Amounts recognised in Statement of Cash Flows:

Total cash outflow for leases* 2,460.06 2,506.98
* Includes advance payment of lease amounting to Rs. 127.36 lakhs to one of the lessor
E. Extension Options
Some leases for office spaces contain extension options exercisable by the Group for an additional period ranging
between 11 months to 5 years. Where practicable, the Group seeks to include extension options in new leases to provide
operational flexibility. The extension options held are exercisable only by the Group and not by the lessors. The Group
assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Group
reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in
circumstances within its control.
I. Definition of a lease
At inception of the contract, the Group assesses whether a contract is, or contains, a lease. Under Ind AS 116, a
contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time, in
exchange for consideration.
II. As a lessee
For measuring the lease liabilities, the Group has discounted lease payments using MCLR rate provided by its
bankers, which is 8.25%.
The Group has used the following practical expedients while applying Ind AS 116 to leases previously classified as
operating lease:
i. The Group did not recognise Right of Use Assets and liabilities for leases of low value assets (eg. Printers and
photocopiers).


ii. The Group used hindsight when determining lease term.
iii. The Group applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12
months of lease term.
iv. The Group has used a single discount rate to a portfolio of leases with reasonably similar characteristics
III. Maturity analysis of lease liabilities

Less than 1 year 1,460.85 2,590.81
More than 1 year 6,453.66 7,598.84
Total 7,914.51 10,189.65
Note 34: Revenue

A. Revenue Streams
The Group generates revenue primarily from provision of application/data processing services, customer care services,
software development services and other allied services to its customers.
Revenue from Contracts with Customers 70,549.58 69,962.99
Total revenue 70,549.58 69,962.99
B. Disaggregation of revenue from contracts with customers

In the following table, revenue from contracts with customers is disaggregated by major service lines, timing of revenue
recognition and primary geographical market.
I. Major service lines:
- Data processing 58,464.90 55,339.20
- Customer Care services 4,570.95 6,254.89
- Recoverables 3,408.91 3,625.52
- Miscellaneous services 3,605.15 3,878.50
- Software license fee, development and support services 499.67 864.88
Total 70,549.58 69,962.99
II. Timing of revenue recognition:

- Revenue recognised at a point in time 70,534.01 69,962.99
- Revenue recognised over a period of time 15.57 -
Total 70,549.58 69,962.99
III. Primary geographical market:

- India 70,533.83 69,825.20
- Other countries 15.75 137.79
Total 70,549.58 69,962.99

02-35 37-111 112-230

C. Contract Balances
The following table provides information about contract assets and liabilities from contracts with customers.
(i) Contract Assets

March 31, 2021 March 31, 2020
Invoice raised during the year (5,207.79) (5,751.11)
Unbilled revenue recognized during the year 6,194.80 5,207.79
(ii) Contract Liabilities

a) Income received in advance
March 31, 2021 March 31, 2020
Opening balance 51.01 10.73
Invoice raised during the year (51.01) (10.73)
Advances received from customers and services not yet rendered 14.94 51.01
Closing balance 14.94 51.01
b) Unearned revenue
March 31, 2021 March 31, 2020
Opening balance - -
Invoice raised during the year 47.50 -
Revenue recognized during the year 15.57 -
The contract assets primarily relate to the Group’s rights to consideration for work completed but not billed at the
reporting date for services rendered. The contract assets are transferred to receivables when the rights become
unconditional. This usually occurs when the Group issues an invoice to the customer.
The contract liabilities includes income received in advance and pending to be recognized as income since obligation
is yet to be performed and invoice raised against unearned revenue.
Note 35: Financial Instruments and Risk Management (Ind AS 32 and 109)
A. Categories of Financial Instruments
I. Financial Assets
March 31, 2021 March 31, 2020
Measured at fair value through profit or loss (FVTPL)
- Investments in mutual funds 23,553.66 30,560.50
- Investment in Government Securities 53.07 53.30
Total 23,606.73 30,613.80


March 31, 2021 March 31, 2020
- Trade receivables 2,899.04 3,203.07
- Cash and Cash Equivalents 1,742.85 2,322.14
- Bank balances other than cash and cash equivalents 16,282.65 2,723.77
- Loans & advances 1,550.02 1,345.57
- Others 126.13 591.15
Total 22,600.69 10,185.70
II. Financial Liabilities

March 31, 2021 March 31, 2020
- Trade payables 5,289.18 3,608.23
- Lease liabilities 7,914.51 10,189.65
- Unpaid dividend 6,721.86 -
- Others 1.64 0.47
Total 19,927.19 13,798.35
B. Fair Value Measurement:

The following table shows the carrying amounts and the fair values of financial assets and liabilities, including their levels
in the fair value hierarchy.
Particulars Carrying Amount Fair Value (In Rs. Lakhs)
(In Rs. Lakhs)
Financial assets - Level 1 Level 2 Level 3 Total
At FVTPL
31-Mar-21
23,606.73 23,606.73 - - 23,606.73
31-Mar-20
30,613.80 30,613.80 - - 30,613.80
ote A) Fair value hierarchy used for Investments in Mutual Funds and Government Securities - Level 1. Valuation techniques and key
N
inputs - Quoted Net Asset Value/ Prices in active market.
ote B) The Group has not disclosed the fair values for financial assets such as trade receivables, cash and cash equivalents, other bank
N
balances, loans etc, because their carrying amounts are a reasonable approximation of fair value.
ote C) The Group has not disclosed the fair values for financial liabilities such as trade payables and lease liabilities because their
N
carrying amounts are a reasonable approximation of fair value.
There are no transfers between Level 2 and Level 3 during the period.

02-35 37-111 112-230

C. Financial risk management
The Group’s Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk
management framework. The Group’s business activities are exposed to a variety of financial risks, namely liquidity risk,
credit risk. Risk management policies have been established to identify and analyse the risks faced by the Group, to set
and monitor appropriate risk limits and controls, periodically review and reflect the changes in the policy accordingly.
The Group’s Audit Committee oversees how management monitors compliance with the risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Group. The
Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes review of risk management
controls and procedures and the results of the same are reported to the Audit Committee.”
I. Credit Risk:
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instruments fails
to meet its contractual obligations, and arises principally from the Group’s receivables from customers and cash
and cash equivalents. The carrying amounts of financial assets represent the maximum credit risk exposure.
Credit risk encompasses both the direct risk of default and the risk of deterioration of credit worthiness as well as
concentration risk.
a) Loans & Advances

This consists of security deposits and advances given to employees. Security deposits are rental deposits given
to lessors and the Group assesses deposit balance on a periodical interval and estimated losses are provided for.
The Group also does not expect any losses on the employee advances since they are given only to permanent
employees of the Group.
b) Trade Receivables
The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer. However,
management also considers the factors that may influence the credit risk of its customer base, including the default
risk of the industry.
The Group establishes an allowance for impairment that represents its expected credit losses in respect of trade and
other receivables. The management uses a simplified approach for the purpose of computation of expected credit
losses for trade receivables and an impairment analysis is performed at each reporting date.
The management has established a credit policy under which each new customer is analysed individually for credit
worthiness before the standard payment and delivery terms and conditions are offered. Credit period varies from
customers to customers and it starts from 10 days. The Group review includes external ratings, customer’s credit
worthiness, if they are available, and in some cases, bank references.
The Group’s customer base comprises of various mutual fund houses and corporates having sound financial
condition. An impairment analysis is performed at each reporting date for invoice wise receivables balances.
c) Cash and cash equivalents and deposits with banks

Cash and cash equivalents of the Group are held with banks which have high credit rating. The Group considers that
the cash and cash equivalents have low credit risk based on the external credit rating of the counterparties.
d) Investments in mutual funds

The credit risk for investments in mutual funds is considered as negligible as the counterparties are reputable mutual
fund agencies with high external credit ratings.


Financial assets for which loss allowance is measured using lifetime expected credit losses:
March 31, 2021 March 31, 2020
Trade receivables 3,090.06 3,345.77
Security deposits 1,711.32 1,289.94
Total 4,801.38 4,635.71
The movement in the allowance for impairment is as follows:

Particulars Trade Receivables Security Deposits
As at As at As at As at
March 31, 2021 March 31, 2020 March 31, 2021 March 31, 2020
Opening Balance 142.70 187.40 26.90 -
Net remeasurement of loss allowance 48.32 (44.70) 221.55 26.90
Closing balance 191.02 142.70 248.45 26.90
II. Liquidity Risk:

Liquidity risk is the risk that the Group will face in meeting its obligations associated with its financial liabilities that are
settled by delivering cash or other financial assets. The Group’s approach in managing liquidity is to ensure that it will
have sufficient funds to meet its liabilities. In doing this, management considers both normal and stressed conditions.
The Group also monitors the level of expected cash inflows on trade and other receivables together with expected
cash outflows on trade and other payables.
Exposure to liquidity risk:

The following are the remaining contractual maturities of financial liabilities at the reporting date. All amounts are
Amount
1 year year
31-Mar-21
- Trade Payables 5,289.18 5,289.18 5,289.18 -
- Unpaid dividend 6,721.86 6,721.86 6,721.86 -
- Others 1.64 1.64 1.64 -
19,927.19 19,927.19 13,473.53 6,453.66
31-Mar-20
- Trade Payables 3,608.23 3,608.23 3,608.23 -
- Unpaid dividend - - - -
- Others 0.47 0.47 0.47 -
13,798.35 13,798.35 6,199.51 7,598.84

02-35 37-111 112-230

The following are the remaining contractual cash flows for financial assets at the reporting date. All amounts are
Amount
1 year year
31-Mar-21
Financial assets:
- Bank balances other than cash and cash equivalents 16,282.65 16,282.65 16,282.65 -
- Investments 23,606.73 23,606.73 23,553.66 53.07
- Loans & Advances 1,550.02 1,550.02 451.03 1,098.99
- Others 126.13 126.13 126.13 -
46,207.42 46,207.42 45,055.35 1,152.06
31-Mar-20
Financial assets:
- Bank balances other than cash and cash equivalents 2,723.77 2,723.77 2,723.77 -
- Investments 30,613.80 30,613.80 30,560.50 53.30
- Loans & Advances 1,345.57 1,345.57 64.65 1,280.92
- Others 591.15 591.15 571.15 20.00
40,799.50 40,799.50 39,445.28 1,354.22
III. Market Risk:

Market risk is the risk of changes in market prices due to foreign exchange rates, interest rates which will affect the
Group’s income or the value of its financial instruments. The objective of market risk management is to manage and
control market risk exposures within acceptable parameters, while optimising the return.
(i) Currency Risk:

The functional currency of the Group is INR. The Group has transactions in foreign currency for software development
income and software license purchases, which are denominated in Euro/USD. The Group has not entered into
any hedges for currency risk. The Group’s foreign currency exposure is limited and is not material to the size of
its operations.
The summary quantitative data about the Group’s exposure to currency risk is as follows:
Particulars INR USD Euro

31-Mar-21
Trade Receivables - - -
Net exposure in respect of recognised assets and liabilities - - -
31-Mar-20
Trade Receivables 40.55 0.55 -
Net exposure in respect of recognised assets and liabilities 40.55 0.55 -


Sensitivity analysis
A reasonably possible strengthening/weakening of EUR/USD against INR would have affected the measurement
of financial instruments denominated in foreign currency and affected equity and Statement of Profit or Loss by the
amounts shown below. This analysis assumes that all other variables remain constant.
Particulars Statement of Profit or Loss Equity, net of tax

Increase Decrease Increase Decrease
31-Mar-21
USD (5% movement) - - - -
EUR (5% movement) - - - -
31-Mar-20
USD (5% movement) 2.03 -2.03 1.52 -1.52
EUR (5% movement) - - - -
(ii) Price Risk

Exposure
Price risk is the risk that the value of the financial instrument will fluctuate as a result of changes in market prices
and related market variables including interest rate for investments in debt oriented mutual funds and debt securities,
caused by factors specific to an individual investment, its issuer and market. The Group’s exposure to price
risk arises from diversified investments in mutual funds and classified in the balance sheet at fair value through
profit or loss.
Sensitivity Analysis
The table below summarises the impact of increases/decreases of the Net Asset Value (NAV) on the Group’s
investment in Mutual fund and profit for the period. The analysis is based on the assumption that the NAV increased
by 5% or decreased by 5% with all other variables held constant, and that all the Group’s investments in mutual
funds moved in line with the NAV.
Particulars Sensitivity of Profit or loss

As at March 31, As at March 31,
2021 2020
NAV - Increase 5% 1,177.68 1,528.03
NAV - Decrease 5% (1,177.68) (1,528.03)
(iii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because
of changes in market interest rates. Interest rates are sensitive to many factors, including governmental, monetary
and tax policies, domestic and international economic and political considerations, fiscal deficits, trade surpluses
or deficits, regulatory requirements and other factors beyond the Group’s control. Changes in the general level of
interest rates can affect the profitability by affecting the spread between, amongst other things, income which Group
receives on investments in debt securities, the value of interest-earning investments, it’s ability to realise gains from
the sale of investments. Interest rate risk primarily arises from floating rate investment. The Group’s investments in
floating rate are primarily short-term, which do not expose it to significant interest rate risk.

02-35 37-111 112-230

Note 36: Share-based payments
A. Description of share-based payment arrangements:
Share option plans (equity settled):
CXOs Others
Number of options granted 136,651 112,343 433,908
Date of grant 1 April 2019 1 April 2019 1 September 2020
Vesting period 10% of options at the end 25% of options at the end 25% of options at the end
10% of options at the end 25% of options at the end 25% of options at the end
year 3; and of year 3; and of year 3; and
year 4. of year 4. of year 4.
Exercise price per share (in Rs.) 614.70 614.70 717.80
Exercise period 4 years from vesting date 4 years from vesting date 4 years from vesting date
Market price per share immediately prior to grant 717.80 717.80 1,234.00
date (in Rs.)
Intrinsic value per share (in Rs.) 103.10 103.10 516.20
The number of options granted is detailed as below:

CXOs Others
Employees of the Company 136,651 79,636 370,747
Employees of CAMS Insurance Repository - 10,672 17,576
Services Limited
Employees of Sterling Software Private Limited - 22,035 45,585
Total 136,651 112,343 433,908
B. Measurement of fair values

The fair values of the options issued have been arrived at using the Black Scholes Model.
The key inputs used in measurement of fair values at the grant date of share options are as follows:
CXOs Others
Fair value per share of the option (in Rs.) 355.01 338.40 575.01
Share price at grant date 717.80 717.80 1,234.00
Exercise price 614.70 614.70 717.80
Expected volatility 47.90% 47.70% 18.38%
Expected life of the option 5.1 years 4.5 years 4.5 years
Dividend yield 1.80% 1.80% 1.90%
Risk free interest rate per annum 7.50% 7.30% 5.35%
Expect volatility and term of the options are based on an evaluation of the historical prices at which the Group’s shares
were acquired by its investors. The expected term of the instruments is based on general option holder behaviour.


C. Reconciliation of outstanding share options:
The number and weighted average exercise prices of share options are as follows:
Batch 1
Outstanding at 1 April 614.70 236,587 - -
Granted during the period - - 614.70 248,995
Exercised during the period 614.70 31,038 - -
Lapsed during the period 614.70 10,186 614.70 12,408
Outstanding at 31 March 614.70 195,363 614.70 236,587
Exercisable at 31 March 614.70 42,229 614.70 38,649
Batch 2
Outstanding at 1 April - - - -
Granted during the period 717.80 433,908 - -
Exercised during the period - - - -
Lapsed during the period - - - -
Outstanding at 31 March 717.80 433,908 - -
Exercisable at 31 March - - - -
D. Expenses recognised in Statement of Profit or Loss:

For details on the employee benefit expenses, please refer Note 21.
Note 37 : Capital Management

The Group’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The Group monitors the return on capital as well as the level of dividends on its equity
shares. The Group’s objective when managing capital is to maintain an optimal structure so as to maximize shareholder value.
The Group is fully equity financed which is evident from the capital structure. Further, the Group has always been a net cash
Group with cash and bank balances along with investment which is predominantly investment in liquid and short term mutual
funds being far in excess of financial liabilities.
Note 38: Segment Reporting

Operating segments which were identified as reportable segments in the previous year have not met any of the quantitative
thresholds specified under paragraph 13 of Ind AS 108 - Segment reporting in the current year. Management believes that
disclosing segment information is not of continuing significance and accordingly no disclosures were made.

02-35 37-111 112-230

Note 39: Remuneration to auditors
Statutory Audit Fee 22.30 22.05
Tax Audit Fee 5.75 5.75
GST audit fees & other certifications 24.93 9.68
Reimbursement of Expenses 0.06 -
Total 53.04 37.48
Disclosures on other work performed by auditors

Additional work entrusted to the statutory auditor is given below:
Services rendered 2020-21 2019-20
Report on the restated financial statements and the related certificates in relation to the initial 45.00 20.00
public offering of the Company’s equity shares by selling shareholder including related out-of-
pocket expenses but excluding applicable taxes.
The remuneration disclosed above has been reimbursed by the selling shareholder and hence does not reflect as charge in
Group’s Statement of Profit and Loss.
Note 40: Provision, contingent liabilities and contingent assets

I. Provision for claims
March 31, 2021 March 31, 2020
Opening Balance as at 1 April 6,865.50 6,734.54
Provision made during the year 9.29 130.96
Closing balance as at 31 March 6,874.79 6,865.50
II. Contingent liabilities and commitments (to the extent not provided for)
March 31, 2021 March 31, 2020
Estimated amount of contracts remaining to be executed on capital account and not 644.32 0.48
provided for
Income Tax matters 399.42 1,589.42
On account of processing errors 32.56 129.00
Others 17.80 17.80
Total 1,094.10 1,736.70
There are no other amounts required to be disclosed as contingent liabilities on account of pending litigations, other than
the above.
There are no contingent assets resulting from the aforesaid litigation.
Note 41: Covid related impact on our business

Covid-19 pandemic has caused disruption to businesses and economic activity which has been reflected in recent fluctuations
in markets across the globe. The Government of India announced a countrywide lockdown in March 2020 and subsequently
these restrictions were relaxed in a phased manner which led to gradual economic recovery across different sectors. However,
due to the onset of the ‘covid second wave’ and increasing number of cases, lockdown restrictions were imposed by several
state governments which may slow down the economic recovery and affect markets. The extent of impact on Group’s financial
statements will depend on future developments, which at this juncture remains uncertain.


There has been no material change in the controls or processes followed in the closing of the financial statements of the
Group. The Group has assessed the impact of the pandemic on its operations, its liquidity and its assets including the value
of its investments and trade receivables as at 31st March 2021. The management does not, at this juncture, believe that
the impact on the value of the Group’s assets is likely to be material. However, since the revenue of the Group is ultimately
dependent on the value of the assets it services and volume of transaction it handles, changes in market conditions may have
an impact on the operations of the Group. Since the situation is rapidly evolving, its effect on the operations of the Group may
be different from that estimated as at the date of approval of these financial statements. The Group will continue to closely
monitor material changes in markets and future economic conditions.
Note 42: Impairment of investment in subsidiary (Ind AS 105)

The Company’s Board being Ultimate Holding Company of Sterling Software (Deutschland) GmbH (Wholly owned subsidiary
of Sterling Software Private Limited) initiated the liquidation process on 4th August 2020.
Accordingly, the Holding Company (i.e. Sterling Software Private Limited) has provided for the impairment of its investment
in the subsidiary as on 31st March 2021 and the corresponding impairment loss has been presented in Statement of Profit or
Loss of the Holding Company as an exceptional item. Details are presented below.
Particulars Amount
Carrying amount as at 31st March 2021 (before impairment) 747.61
Impairment provision (705.03)
Net carrying amount as at 31st March 2021 42.58
However, the effect of the above will not have impact on consolidated financials as the aforesaid impairment provision has
been reversed as a part of consolidated adjustments.
Note 43 : Additional Information pursuant to para 2 of general instruction for preparation of

Consolidated Financial Statements
For the Year ended 31st March 2021
S. Name of the Entity Net Assets i.e total Share in Profit or loss Share in Other Share in Total
No assets minus total Comprehensive Income Comprehensive Income
liabilities
As % of In Rs. As % of In Rs. As % of In Rs. As % of In Rs.
Consolidated Lakhs Consolidated Lakhs Consolidated Lakhs Consolidated Lakhs
Net Assets Profit Other Total
Comprehensive Comprehensive
Income Income
Parent
1 Computer Age Management 91.05% 46,970.99 106.66% 21,897.28 82.63% 34.70 106.62% 21,931.98
Services Limited
Indian subsidiaries
2 CAMS Investor Services Pvt Ltd 8.37% 4,317.14 3.76% 772.84 -4.37% -1.84 3.75% 771.00
3 CAMS Financial Information 0.84% 432.06 -0.25% -52.24 0.00% - -0.25% -52.24
Services Pvt Ltd
4 Sterling SoftwarePvt Ltd 4.81% 2,483.47 6.95% 1,426.46 17.94% 7.53 6.97% 1,433.99
5 CAMS Insurance Repository 7.97% 4,113.85 1.07% 219.20 12.49% 5.25 1.09% 224.45
Services Ltd
6 CAMS Payment Services Private 4.84% 2,498.11 -0.01% -1.89 0.00% - -0.01% -1.89
Limited

02-35 37-111 112-230

liabilities
Income Income
Foreign subsidiaries
7 Sterling Software (Deutschland) 0.08% 42.59 -0.85% -174.75 -8.69% -3.65 -0.87% -178.40
GmbH
8 Non-Controlling Interests 0.00% - 0.00% - 0.00% - 0.00% -
9 Consolidation adjustments -17.97% -9,271.04 -17.33% -3,557.77 0.00% - -17.29% -3,557.76
Total 100.00% 51,587.17 100.00% 20,529.13 100.00% 42.00 100.00% 20,571.13
For the Year ended 31st March 2020

liabilities
Income Income
Parent
1 Computer Age Management 89.11% 48,908.62 95.49% 16,407.32 60.58% -61.46 95.70% 16,345.86
Services Limited
Indian subsidiaries
2 CAMS Investor Services Pvt Ltd 7.82% 4,291.15 1.89% 324.97 -1.42% 1.44 1.91% 326.41
3 CAMS Financial Information 0.52% 284.30 0.07% 12.89 0.00% - 0.08% 12.89
Services Pvt Ltd
4 Sterling SoftwarePvt Ltd 7.57% 4,157.19 5.62% 966.17 31.10% -31.55 5.47% 934.62
5 CAMS Insurance Repository 7.09% 3,889.40 -0.31% -52.87 7.38% -7.49 -0.35% -60.36
Services Ltd
Foreign subsidiaries
6 Sterling Software(Deutschland) 0.01% 5.04 -1.04% -177.98 2.06% -2.09 -1.05% -180.07
GmbH
7 Non-Controlling Interests 0.00% - -0.04% -7.27 0.30% -0.30 -0.04% -7.57
8 Consolidation adjustments -12.12% -6,650.06 -1.70% -291.29 0.00% - -1.71% -291.29
Total 100.00% 54,885.64 100% 17,181.95 100% -101.46 100.00% 17,080.49
Note 44:
The Company has completed its initial Public Offering (IPO) of 1,82,46,600 equity shares of face value of Rs.10/- each for
cash at an issue price of Rs.1,230/- per equity share through offer for sale by existing shareholder. As the IPO was through
an Offer for Sale, the Company did not receive any proceeds from the offer. The equity shares of the Company were listed on
BSE Limited on October 1, 2020 and National Stock Exchange from May 07, 2021


Note 45 (Ind AS 12 Income Taxes) :
Tax reconciliation is provided below for the year ended 31st March 2021:
Particulars Rate
Tax at Statutory Rate 25.2%
Expenses Not deductible 0.5%
Exempt / Non Taxable Income 1.9%
Income Taxable at lower rate -1.3%
Timing Difference Items 0.7%
Others (incl. Tax Incentives & provision for disputed taxes) 0.0%
DTA not recognized on unabsorbed business loss 0.2%
Deferred Tax Assets (incl. wind down impact) -1.8%
Earlier period tax provision reversed -0.1%
Total 25.2%
Note 46:
Based on the current assessment of the long-term contracts in the ordinary course of business, the Group has made adequate
provision for losses wherever required. The Group has not entered into any derivative contracts during the year.
Note 47:
Comparative figures have been regrouped/ reclassified wherever necessary to correspond with the current year’s classification
/ disclosure.
Note 48:
All figures reported in the financials statements and related notes are rounded off to nearest lakh.

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-
Date : May 25, 2021 Date : May 25, 2021


NOTES
NOTES
Registered Office
New No. 10, Old No. 178,
MGR Salai, Nungambakkam,
Chennai - 600 034.
www.camsonline.com

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A

What lies ahead…

D 33rd Annual Report 2020-21

CAMS’ journey is driven

It is powered by its unwavering dedication to

The legacy of commitment

Key Business Highlights

02 33rd Annual Report 2020-21

Financial Highlights FY21

Rs. 7,055 million Rs. 2,745 million

Rs. 2,053 million 38.7 %

33rd Annual Report 2020-21 03

Your Company is guided by its core

Your Company exited the year with

04 33rd Annual Report 2020-21

For the first time in the history of the

33rd Annual Report 2020-21 05

06 33rd Annual Report 2020-21

33rd Annual Report 2020-21 07

08 33rd Annual Report 2020-21

The Company’s business ethos is

CAMS has a portfolio

CAMS Listing Ceremony

33rd Annual Report 2020-21 09

Be passionate Comply and With the nature of our services to

10 33rd Annual Report 2020-21

Committed to prudent business expansion

Leading the industry – with Building on Robust Infrastructure

Raising the service standard bar

33rd Annual Report 2020-21 11

22.0 trillion 323.4 million

SIP Book SIP Transactions

16.6 million 40.4 million The mature core back

A glance at our key business segments

Armed with high-end technology- services, such as transaction

12 33rd Annual Report 2020-21

To enhance the services

CAMS - Mutual Fund Services Business

Provides a range of technology-enabled infrastructure to Mutual Funds -

Service Uniform Regulatory Change

Business Manage High Volume Infrastructural Support Timely Operational

Knowledge Extensive Data on Actionable High Capability of Innovative Product

Transaction Investor Risk

33rd Annual Report 2020-21 13

Diversifying our Service Portfolio

Alternative Investment Electronic Payment Insurance Repository &

KYC Registration Agency Software Solutions Account Aggregator Services

Our winning edge

14 33rd Annual Report 2020-21

33rd Annual Report 2020-21 15

16 33rd Annual Report 2020-21

33rd Annual Report 2020-21 17

Going the extra mile Digital power to Distributors

18 33rd Annual Report 2020-21

As service partner to AMFI, we

33rd Annual Report 2020-21 19

Our Tech-Powered Solutions Sales & Business Intelligence

20 33rd Annual Report 2020-21

Automation for higher fidelity Reliability, continuity &

remote e-voting or at the AGM. Corporate/Institutional 10.

7. In view of the massive outbreak of the COVID- 19 iv)

elpdesk for Individual Shareholders holding securities