Sep 30, 2011
To The Members of Agnite Education Limited.
The Directors have pleasure in presenting the Twentieth Annual Report
of the Company along with the Audited Statement of accounts for the
period ended 30th September 2011.The Report also includes Management
Discussion and Analysis in accordance with the guidelines on Corporate
Governance.
(Rs.in Cr)
Particulars Period ended Year ended
30th September 2011 31st March 2010
Income from operations 47.87 409.86
Other income 2.31 0.20
Total Revenue 50.18 410.06
Total expenditure before Interest
& Depreciation 49.60 351.23
Operating profit / Loss PBIDT 0.58 58.83
Interest 0.08 54.09
Depreciation / Amortization 1.57 2.11
Profit before tax (107) 2.63
Provision for tax 0.32 0.40
Profit after tax (PAT) (1.39) 2.23
Surplus brought forward 487.08 484.85
Balance carried to Balance sheet 482.05 487.08
During the year, your Company has transformed itself into a Company
devoted to provide online education at a global scale. To offer better
education globally through a series of on-line solutions and provide
the best possible education and training, the Company had decided to
change its name from Teledata Informatics Ltd to Agnite Education
Limited.
Lines of Business:
Educational Solutions: Agnite Education Limited has developed solutions
and services by partnering with key institutions and has positioned
itself to offer subject matter expertise in key areas. The solutions
offered by Agnite are as below:
Tuition Edge - Tuition Edge offers holistic education in the field of
High School Studies, Preparatory Studies, Professional Studies and
General Studies.
Skill Set - Through Skill Set, Agnite focuses to offer skill
development programme by focusing on Trade Skills, Office Skills and
Soft Skills.
Distance Learning for Educational Institutions Products
Agnite offers a varied range of products and software solutions for
educational/ training institutions.
Monitor SIS - is a highly customizable product capable of providing high
- quality and cost effective solutions specific to the school's needs.
Web EIM - is a complete solution to the Enterprise Resource Planning
(ERP) requirements for educational institutions. Web EIM brings
students, staffs, parents, educational administrators and financial
managers together using standard browser based access.
Directors' Responsibility Statement
In accordance with the provisions of Section 217(2AA) of the Companies
Act, 1956, your Directors confirm that:
in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures;
they had selected such accounting policies and applied them
consistently and made judgments and estimates that are reasonable and
prudent, so as to give a true and fair view of the state of affairs of
the Company at the end of the financial year and of the profit of the
Company for that period;
They had taken proper and sufficient care for the maintenance of
adequate accounting records, in accordance with the provisions of this
Act, for safeguarding the assets of the company and for preventing and
detecting fraud and other irregularities, and they had prepared the
annual accounts on a going concern basis.
Corporate Governance
The disclosure requirements on corporate governance prescribed under
clause 49 of the listing agreement is annexed herewith as part of the
report.
Directors
Gp.Capt. K. Balasubramanian IAF (Retd), Director is retiring by
rotation and has conveyed his acceptance to continue as a Director of
the company.
Mr. M.S. Ramakrishnan has resigned from the position of Director of the
Company with effect from 01st October 2010. Financial Year
The Company has received approval from the Registrar of Companies,
Chennai vide their letter dated 22nd July 2011 for the purpose of
extension of financial accounting year from 01st March 2010 to 30th
September 2011. Consecutively, the extension for conducting the Annual
General Meeting was granted by the Registrar of Companies, Chennai for
3 months i.e. upto 30th March 2012 vide their letter dated 22nd July
2011.
CEO Certification
The Managing Director has submitted a Certificate to the Board Meeting
regarding the Financial Statements and other matters as required and
Clause 49 (V) of the Listing Agreement.
Fixed Deposits
Your Company has not accepted fixed deposits and as such, no amount of
principal or interest was outstanding as at the Balance Sheet date.
Particulars of Employees
None of the employees of the company are falling under the information
to be furnished as per section 217 (2A) of the Companies Act 1956.
Auditors
M/s N.R. Krishnamoorthy and Company Chartered Accountants, retire at
the ensuing Annual General Meeting and have confirmed their eligibility
and willingness to accept Office as Statutory Auditors if re-appointed.
Subsidiaries
The financial statements of the subsidiaries of your Company are drawn
up in accordance with the applicable Accounting Standards and forms
part of the Consolidated Financial Statements in the Annual report.
Your Company believes that the consolidated accounts present a full and
fair view of state of affairs and financial conditions. The financial
information relating to the subsidiary companies are not appended to
this report.
As per Section 212 of the Companies Act, 1956, we are required to
attach the Director's Report, Balance Sheet and Profit and Loss Account
of our subsidiaries. The Ministry of Corporate Affairs, Government of
India vide its circular no. 2/2011 dated February 8, 2011 has provided
an exemption to companies from complying with section 212, provided
such companies publish the audited consolidated financial statements in
the Annual Report. Accordingly, the Annual Report 2010-11 does not
contain the financial statements of our subsidiaries. The audited
annual accounts and related information of our subsidiaries, where
applicable, will be made available upon request. These documents will
also be available for inspection during the business hours at our
registered office in Chennai, India.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo
The particulars prescribed under Section 217(1)(e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out separately, which
forms a part of this report.
Acknowledgements
Your directors extend their gratitude to customers, alliance partners
and employees for their continued valuable support. The unrelenting
contribution made by our employees to ensure customer care deserves a
special acknowledgement. Your directors place on record their
appreciation for the excellent continued co-operation from Bankers,
vendors and various Government and Non-Government Agencies including
SEBI, Stock Exchanges, Registrar of Companies, STPI, RBI & others and
look forward to their continued support in the future.
For and on behalf of the Board of Directors
Sd/- Sd/-
K. Padmanabhan N. Sakthivel
Managing Director Director
Place: Chennai
Date: 16.03.2012
Mar 31, 2010
The Directors have pleasure in presenting the Nineteenth Annual Report
of the Company along with the Audited Statement of accounts for the
year ended 31st March 2010.The Report also includes Management
Discussion and Analysis Report in accordance with the guidelines on
Corporate Governance.
(Rs in Cr)
Particulars Year ended Year
ended
31st March 2010 31st March 2009
Income from
operations 409.86 725.12
Other
income 0.20 9.75
Total
Revenue 410.06 734.87
Total expenditure
before Interest &
351.23 620.54
Depreciation
Operating profit
/ Loss
PBIDT 58.83 114.33
IntereTst 54.09 34.90
Depreciation /
Amortization 2.11 2.23
Profit before
tax 2.63 77.20
Provision for
tax 0.40 8.09
Profit after tax
(PAT) 2.23 69.11
Surplus brought
forward 484.85 415.74
Balance carried to
Balance sheet 487.08 484.85
Lines of Business:
1. Educational Solutions: Teledata Informatics Ltd has transformed
itself into an Education and Training Company by offering a wide range
of solutions for the on-line education market such as:-
- Tuition Edge
- Teachers Aide
- Development
- Preparatory Courses for Professional Exams
- Coaching for Competitive Exams
- Distance Education for Universities -
2. IT Infrastructure & ICT Solutions: Teledata has successfully worked
with states such as Tripura, West Bengal, Nagaland and Arunachal
Pradesh in providing ICT Solutions.
Teledata has also implemented e-governance and other Infrastructure
projects in Utkal University, Bharatiyar University.
3. Product Offerings:
- Educational Software: Teledata offers a variety of products and
software solutions like Monitor SIS, WebEIM, Monitor and TIM
- Energy and Utility: The Company focuses on providing value added
technology solutions in Energy Loss Computation, Preventing Energy
Thefts and phased implementation coupled with the hardware and software
technology. Billing Solutions and Power Plant Manager are the
components of this sector.
- Security Solutions: Teledata has started providing a virtual
reception concept by name MAYA which virtually eliminates the need of
human intervention and handles visitors through facial and biometric
recognition. MAYA can be effectively used in corporate offices/
Commercial / Apartment Buildings, Banks, Places of Worship etc. Remote
Monitoring is another aspect in security solutions. Teledata offers
surveillance software to detect theft and manage crowd. The software
can be installed anywhere where security is of prime importance.
Directors Responsibility Statement
In accordance with the provisions of Section 217(2AA) of the Companies
Act, 1956, your Directors confirm that:
à in the preparation of the annual accounts, the applicable accounting
standards had been followed along with proper explanation relating to
material departures; Ã they had selected such accounting policies and
applied them consistently and made judgments and estimates that are
reasonable and prudent, so as to give a true and fair view of the state
of affairs of the Company at the end of the financial year and of the
profit of the Company for that period;
à they had taken proper and
sufficient care for the maintenance of adequate accounting records, in
accordance with the provisions of this Act, for safeguarding the assets
of the company and for preventing and detecting fraud and other
irregularities, and à they had prepared the annual accounts on a going
concern basis.
Corporate Governance
The disclosure requirements on corporate governance prescribed under
clause 49 of the listing agreement is annexed herewith as part of the
report.
Directors
Mr.N. Sakthivel, Director is retiring by rotation and has conveyed his
acceptance to continue as a Director of the company.
CEO Certification
The Managing Director has submitted a Certificate to the Board Meeting
regarding the Financial Statements and other matters as required and
Clause 49 (V) of the Listing Agreement.
Fixed Deposits
The Company has not accepted fixed deposits and as such, no amount of
principal or interest was outstanding as at the Balance Sheet date.
Particulars of Employees
None of the employees of the company are falling under the information
to be furnished as per section 217 (2A) of the Companies Act 1956.
Auditors
M/S N.R.Krishnamoorthy and Company Chartered Accountants, retire at the
ensuing Annual General Meeting and have confirmed their eligibility and
willingness to accept Office as Statutory Auditors if re-appointed.
Subsidiaries
The financial statements of the subsidiaries of your Company are drawn
up in accordance with the applicable Accounting Standards and forms
part of the Consolidated Financial Statements in the Annual Report.
Your Company believes that the consolidated accounts present a full and
fair view of state of affairs and financial conditions. The financial
information relating to the subsidiary companies are appended to this
report
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo
The particulars prescribed under Section 217(1)(e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out separately, which
forms a part of this report.
Acknowledgements
Your directors extend their gratitude to customers, alliance partners
and employees for their continued valuable support. The unrelenting
contribution made by our employees to ensure customer care deserves a
special acknowledgement. Your directors place on record their
appreciation for the excellent continued co-operation from Bankers,
vendors and various Government and Non-Government Agencies including
SEBI, Stock Exchanges, Registrar of Companies, STPI, RBI, VSNL & others
and look forward to their continued support in the future.
For and on behalf of the Board of Directors
Sd/- Sd/-
Gp. Capt. Balasubramanian
IAF (Retd.) K.Padmanabhan
Chairman Managing Director
Place: Chennai
Date : 30/08/2010
Mar 31, 2009
The directors have pleasure in presenting the Eighteenth Annual Report
of the company along with the audited statement of Accounts for the
period ended March 31, 2009. The Report also includes the Management
Discussion and Analysis Report in accordance with the Guidelines on
Corporate Governance. The financial year has witnessed identification
of potential revenue generating projects for the company in diverse
arenas.
Financial Performance (Consolidated Basis) (Rs. Crore)
Particulars Year ended Year ended
31stMarch 2009 31stMarch 2008
Income from operations 3030.73 6576.05
Other income 32.27 59.74
Total Revenue 3063.00 6635.79
Total expenditure before Interest & 3056.05 6246.12
Depreciation
Operating profit/ Loss PBIDT 121.05 389.67
Interest 57.05 45.12
Depreciation / Amortization 8.82 13.84
Profit before tax 55.18 330.71
Provision for tax 9.13 40.93
Profit after tax (PAT) 46.05 289.78
Add: ExpendituretrftoCWIP 0.00 0.09
Surplus brought forward 470.04 209.72
Profit / (Loss) available for appropriation435.37 499.59
Dividend-
Transfer to general reserve-
Minority Interest (2.27) (29.55)
Cost of Control-
Dividend on Equity shares subsidiary-
Balance carried to Balance sheet 433.10 470.04
Lines of Business
1. Software Solutions & Services
Teldata Informatics Ltd has started to provide software solutions and
services for Education, Utility/ Energy verticals for over a decade.
Based on customers requirements and feed back, Teledata team could
improve and add on more features and develop robust ERP software
products in these verticals. Continuous R&D work on real time
applications, helps to improve the usability of these added features.
a. Education: Teledatas domestic focus is on education projects to
state governments & e-Governance software to schools, colleges,
universities and education departments at district and state levels.
The company has exclusively developed software for this purpose and
provides extensive e-Governance support to the administration.
The Software Solutions offered in the education vertical consists of:
i.. Formal Education
ii. Continuing Education
b. Utility: Teledata has targeted this vertical as one of the key areas
of growth in our Utilities division, which provides software solutions
to Power Generation, Electric and Gas Distribution companies. In
addition, the company is working towards establishing itself in the
alternate energy sources segment by owning and operating windmills.
c. Others: Teledata works on industry and serviceable to convert their
business processes into valuable business processess. Other than
Education and Utility, we manage pioneering software solutions and
services across industries such as,
i. Contraktsoft
ii. Fuel Station Manager
iii. Platform for Fin. Exchange
2. Networking & Communication
Teledata has a long history of significant contributions in the field
of communications and networking. Its current and past research
activities explore wide-ranging issues in optical networking, wireless
networking, routing, QoS and policy networking, network control and
management, and network security.
Directors Responsibility Statement
In accordance with the provisions of Section 217(2AA) of the Companies
Act, 1956, Your Directors Confirm:
- that in the preparation of the annual accounts, the applicable
accounting standards had been followed along with proper explanation
relating to material departures, o that the directors had selected such
accounting policies and applied them consistently and made judgements
and estimates that are reasonable and prudent, so as to give a true and
fair view of the state of affairs of the Company attheend of
thefinancialyearand of the profit of the Companyfor that period, o that
the directors had taken proper and sufficient care for the maintenance
of adequate accounting records, in accordance with the provisions of
this Act, for safeguarding the assets of the company and for preventing
and detecting fraud and other irregularities, and that the directors
had prepared the annual accounts on a going concern basis.
Corporate Governance
The disclosure requirements on corporate governance prescribed under
clause 49 of the listing agreement is annexed herewith as part of the
report.
Directors
Mr.M.S.Ramakrishnan, Director is retiring by rotation and has conveyed
his acceptance to continue as a Director of the company
Dividend
Your Directors have not recommended any dividend during the year.
CEO Certification
The Managing Director has submitted a Certificate to the Board Meeting
regarding the Financial Statements and other matters as required and
Clause 49 (V) of the Listing Agreement.
Fixed Deposits
Your Company has not accepted fixed deposits and as such, no amount of
principal or interest was outstanding as at the Balance Sheet date.
Particulars of Employees
None of the employees of the company are falling under the information
to be furnished as per section 217 (2A) of the Companies Act 1956.
Auditors
M/S N.R.Krishnamoorthy and Company Chartered Accountants, retire at the
ensuing Annual General Meeting and have confirmed their eligibility and
willingness to accept Office as Statutory Auditors if re-appointed.
PARTICULARS UNDER SECTION 212 OF THE COMPANIES ACT
As per section 212 of the Companies Act, 1956, we are required to
attach the directors report, balance sheet and profit and loss account
of our subsidiaries. We had applied to the Government of India for an
exemption from such an attachment as we present the audited
consolidated financial statements in the annual report. We believe that
the consolidated accounts present a full and fair picture of the state
of affairs and the financial condition, and are accepted globally. The
Government of India has granted us exemption from complying with
section 212. Accordingly, the annual report does not contain the
financial statements of these subsidiaries. We will make available the
audited annual accounts and related information of subsidiaries, where
applicable, upon request by any of our investors. These documents will
also be available for inspection during business hours at our
Registered office in Chennai.
Further, as directed by the Central Government, the Financial
Statements relating to the subsidiaries has been furnished under the
head Statement pursuant to section 212(8) of the Companies Act, 1956,
related to Subsidiary Companies forming part of the Annual Report.
Conservation of Energy, Technology Absorption, Foreign Exchange
Earnings and Outgo
The particulars prescribed under Section 217(l)(e) of the Companies
Act, 1956 read with the Companies (Disclosure of Particulars in the
Report of Board of Directors) Rules, 1988 are set out separately, which
forms a part of this report.
Acknowledgements
Your directors extend their gratitude to customers, alliance partners
and employees for their continued valuable support. The unrelenting
contribution made by our employees to ensure customer care deserves a
special acknowledgement. Your directors place on record their
appreciation for the excellent continued co-operation from Bankers,
vendors and various Government and Non-Government Agencies including
SEBI, Stock Exchanges, Registrar of Companies, STPI, RBI, VSNL & others
and look forward to their continued support in the future.
Forand on behalf of the Board of Directors
K. Padmanabhan N.Sakthivel
Managing Director Director
Place: Chennai
Date : 30/06/2009