Mar 31, 2014
Dear Members,
The Directors are very happy to present this 22nd Annual Report
together with the Audited Accounts of the company for the year ended
31st March 2014.
1. Performance Review:
(in Rs)
Particulars Year ended Year ended
31.03.2014 31.03.2013
Total Revenue from operations &
other Income 516,950 867,290
Total Expenses (144,831) 2,727,392
Profit before exceptional and
extraordinary items and tax 661,781 (1,860,102)
Exceptional Items 100,235,702 0.00
Profit before extraordinary
items and tax (99,573,922) (1,860,102)
Extraordinary Items - 0.00
Profit before tax (99,573,922) (1,860,102)
Tax expenses-Deferred tax (596,077) (694,890)
Profit(Loss) from the period from
continuir (98,977,844) (1,165,213)
operations
2. Dividend
For the Financial Year 2013-14, your directors do not recommend any
dividend.
3. The year in Review
Your Company''s performance during the financial year under report was
not satisfactory. The management had a review of the realisability of
stock in trade and also the collectability of various accounts
receivables and advances. Consequent to such review the management had
written off significant amount of inventories, Sundry Debtors and
Advances. Similarly, significant amount of accounts payables are also
written back. (Also refer to Note 22 (c) )
During the year, your company has initiated a merger with Nexgen
Animators Private Limited and has submitted all relevant documents to
regulatory approvals and awaiting a positive confirmation. Your company
is hopeful that the merger plans will give a big fillip to its revival
process as and when the merger plans materialize. The company is also
in the process of finalizing its business plans and set them in motion
in the current year.
4. Future Outlook
i) Current Business Operations
a) Sale of Computer Hardware, Peripherals and Annual Maintenance.
b) Mini ERP Software Development, Networking Solutions.
c) IT Education and Training from basics to advanced courses.
ii) Proposed additional operations
a) IT and IT Enabled Services.
b) Infrastructure Management and Solutions Services
c) Exhibitions and Innovations as a separate division.
d) IT Education and Training at grass root level.
e) Engineering Services, Technology offerings, Domain Services etc.,
f) BPO and Call Center Education and Training.
g) Development of portals and website.
5. Deposits
Your Company has not accepted any deposits within the meaning of sec
58A of the Companies Act, 1956 and rules made there under.
6. Directors
In accordance with provisions of the Companies Act, 1956 and the
Company''s Articles of Association, Mrs. A. Anitha, Director, retire at
the ensuing Annual General Meeting of the Company and being eligible
offer herself for Re-appointment.
7. Auditors
The retiring auditors M/s. Ramraj & Co, Chartered Accountants have
expressed their willingness to continue in office, if reappointed. They
have furnished to the Company a certificate of their eligibility for
appointment as auditors, pursuant to Section 224(1B) of the Companies
Act, 1956. The Board of Directors recommends to the members to appoint
them as auditors and to fix their remuneration.
8. Conservation of Energy, Technology Absorption and Foreign Exchange
Earning & Outgo
Since the Company does not fall under the various categories of
Industries mentioned in schedule to "Form A" rule 2 of the Companies
(Disclosure of particulars in the Report of Board of Directors) Rules
1988, made pursuant to the provisions of Sec 217(1) (e) of the
Companies Act, 1956. Hence, the disclosure of particulars was not
given.
There was no (realized) foreign earnings and outgo during the year
under review.
9. Directors Responsibility Statement
Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the Companies
Act, 1956 your Directors confirm that:
a. In the preparation of annual accounts, the applicable accounting
standard had been followed by the management.
b. The Directors 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 of and of the profit or
loss of the company for the period.
c. 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.
d. The directors had prepared the annual accounts on a going concern
basis.
10. Particulars of Employees
Statement of Particulars of Employees as required by the provisions of
sec 217(2A) of the Companies Act, 1956 read with the Companies
(Particulars of Employees) Rules 1975 is not given as there is no
employee in regard to which particulars is required.
11. Acknowledgments
Your Directors acknowledge gratitude the cooperation and assistance
received from the Government, Banks, Investors and all those associated
with the Company during the year under review.
Directors Comments on Qualifications Reservations:
Since there are no reservations qualifications or adverse remarks in
the Auditors report no explanation is required.
Place : Chennai On behalf of the Board of Directors
Date : 02.09.2014
Sd/- Sd/-
Mr.N.Aravind, Mrs.A.Anitha
Managing Director Director
Mar 31, 2010
The Directors are very happy to present this Eighteenth Annual Report
to gether with the Audited Account of the company for the year ended
31st March 2010.
1. Performance Review:
(Rsinlacs)
Particulars Year ended Year ended
31.03.2010 31.03.2009
Income from Operations 601.89 1108.79
Other Income 5.00 -
Total 606.89 1108.79
Operating Expenditure 523.30 1024.08
Operating Profit/Loss 83.59 84.71
(PBDIT)
Interest - -
Depreciation 75.71 70.08
Profit before Tax (PBT) 7.87 14.62
Provision for Income Tax 0.93 4.65
Provision for Fringe Benefit
Tax (FBT) - 5.08
Provision for Deferred Tax 1.60 0.18
Profit/(Loss) after Tax, FBT& 5.34 4.71
Deferred Tax Liability
Balance B/F from previous year 85.39 81.15
Balance carried over to Balance
Sheet 90.73 85.86
Reserves & Surplus 0.53 0.47
(Excluding Revaluation Reserves)
Earnings per shares (EPS) 0.01 0.08
Nominal Value of an Equity Share 1/- 1/-
2. Dividend
For the Year 2009-10, though the overall performance is good, profits
are not sufficient to declare dividend. Hence, your directors do not
recommend any dividend in order to plough back the profits in to
business.
3. The year in Review
2009-2010 A Year of Transition
Your Companys performance this year was satisfactory. Your company is
confident of achieving much better results in the coming years.
Strengthen General Reserve
At the end of the financial year 2009-10, your Company has added
Rs.53,420 to General Reserve and the balance profit was carried to
Balance Sheet.
Income from Operations and Business Spread
During the year, the company has achieved total income from operations
Rs. 601.89 lacs which comprises as follows:
Particulars Rsinlacs %tototal
i) Sale of Hardware 246.04 40.88
ii)Software Development 267.89 44.51
iii) Education & Training 87.96 14.61
601.89 100.00
Revenues generated by the company are only from three divisions
mentioned above. Revenues from another division- job portal
division-is would be expectedt oflow from the current year(2010-11)
onwards.
Revenues from education and training constitute only 14.61% which is
expected to improve a lot in the current fiscal. The revenues generated
are only from the operations concentrated in and around Chennai city
and some districts, places in Tamil Nadu and neighboring places of
Andhra Pradesh. It is inevitable to expand the activities and
presence of the company in entire state of Tamil Nadu, Andhra Pradesh,
if the revenues to increase or multiply. The sincere efforts or
initiatives are already on towards the increase of base of operations
and expected to reach the targeted levels during the current fiscal
2009-10.
4. Future Outlook
i) Current Business Operations
a) Saleof Computer Hardware,Peripherals and Annual Maintenance.
b) Mini ERP Software Development, Networking Solutions.
c) IT Education and Training from basics to advanced courses.
d) Job portal for placement and Recruitment which is launched in the
financial year 2010-11.
ii) Proposed additional operations
a) IT and IT Enabled Services.
b) Infrastructure Management and Solutions, Services
c) Exhibitions and Innovations as a separate division.
d) IT Education and Training at grass root level.
e) Engineering Services, Technology offerings, Domain Services etc.,
f) BPO and CallCenter Education and Training.
g) Development of portals and website.
iii) One-stop solution centres:
Concept: Creation of one-stop solution centres on retail basis across
length and breadth of the country for spreading IT knowledge and to
provide one-stop solutions to the customers.
Effect : Blend of current business operations and the proposed with the
right combination of people and placing them at one centre to becalled
as Retail centre.
Expansion: The Company has embarked on expansion program for setting up
these Retail centers in partnership with the interested business
partners.
iv) Other Growth - Oriented Initiatives
1. Technology Partnership/Tie-up
In a bid to increase the organic strengths, the company is planning to
strike one or two technology tie-up deals and partner ships during the
financial year 2009-10.
2. Intra Partnership
In order to have multi-city, multi-location operations through out the
country, the company proposes to round off few intra-partnerships in
the run-up to have multi-area operations.
3) Talent acquisition or Recruitment
i) Our talent acquisition process evaluates needs and acquires talent
in tune with our business needs. Our talent acquisition is driven by
the annual business plan covering number of people required by location
and their levels and rules in the organization. This annual business
plan is monitored and adjusted based on business visibility on a
monthly basis on a periodic basis, our operations team presents to the
management team about company-wide utilization and staffing needs based
on business visibility.
ii) People Profile
Our talent acquisition process is headed by right mix of people. This
team will pick up right talent, right profile to right job besides
education profile ofthe person.
iii) High Performance and High Caring Culture
Our culture of reward the deserved goes long way in attracting and
retaining talents.
iv) Training
Our Talent - base group is responsible for coordinating and conducting
training sessions for our people. We believe that weare all depending
on ones talent. So talent is abase which in turn create talent that is
our logic behind in use of the term talent-base
v) Compensation
We offer competitive packages matching talent, industry trends etc. The
compensation packages are adjusted annually based on industry
standards, surveys and individual performance.
5. Deposits:
Your Company has not accepted any deposits with in the meaning of sec
58A of the Companies Act,1956 and rules made there under.
6. Directors:
In accordance with provisions of the Companies Act, 1956 and the
Companys Articles of Association, Mr.N.Aravind, Director and MD,
retire at the Eighteenth Annual General Meeting of the Company and
being eligible offer himself for Re-appointment.
7. Auditors:
The retiring auditors M/s. Ramraj & Co, Chartered Accountants have
expressed their willingness to continue in office, if reappointed. They
have furnished to the Company a certificate of their eligibility for
appointment as auditors, pursuant to Section 224(1B) of the Companies
Act, 1956. The Board of Directors recommends to the members to appoint
them as auditors and to fix their remuneration.
8. Conservation of Energy, Technology Absorption and Foreign Exchange
Earning & Outgo:
Since the Company dose not fall under the various categories of
Industries mentioned in schedule to "Form A" rule 2 of the Companies
(Disclosure of particulars in the Report of Board of Directors) Rules
1988, made pursuant to the provisions of Sec 217(1) (e) of the
Companies Act,1956.Hence, the disclosure of particulars was not given.
There was no(realized) foreign earnings and outgo during the year under
review.
9. Directors Responsibility Statement:
Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the Companies
Act, 1956 your Directors confirm that:
a. In the preparation of annual accounts, the applicable accounting
standard had been followed by the management.
b. The Directors 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 of and of the profitor
loss of the company for the period.
C. 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.
D. The directors had prepared the annual accounts on a going concern
basis.
10. Particulars of Employees:
Statement of Particulars of Employees as required by the provisions of
sec 217(2A) of the Companies Act 19856 read with the Companies
(Particulars of Employees) Rules 1975 is not given as there is no
employee in regard to which particulars is required.
11. Acknowledgments:
Your Directors acknowledge gratitude the cooperation and assistance
received from the Government, Banks, Investors and all those associated
with the Company during they earunder review.
Place :Chennai On behalf of the Board of Directors
Date :02.09.2010
Sd/- Sd/-
Mr.N.Aravind, Mrs.A.Anitha
Managing Director Director
Mar 31, 2009
The Directors are very happy to present this Seventeenth Annual Report
together with the Audited Account of the company for the year ended
31st March 2009.
1. Performance Review:
(Rs in lacs)
Particulars Year ended Year ended
31.03.2009 31.03.2008
Income from Operations 1108.79 1842.17
Other Income
Total 1108.79 1842.17
Operating Expenditure 1024.08 1613.08
Operating Profit/Loss 84.71 229.09
(PBDIT)
Interest - -
Depreciation 70.08 65.84
Profit before Tax (PBT) 14.62 163.25
Provision for Income Tax 4.65 12.67
Provision for Fringe Benefit Tax (FBT) 5.08 5.27
Provision for Deferred Tax 0.18 36.39
Profit/(Loss) after Tax, FBT & 4.71 108.92
Deferred Tax Liability
Balance B/F from previous year 81.15 17.66
Balance carried over to Balance Sheet 85.86 126.58
Reserves & Surplus 0.47 12.66
(Excluding Revaluation Reserves)
Earnings per shares (EPS) 0.08 1.85
Nominal Value of an Equity Share 1/- 10/-
2 Dividend
For the Year 2008-09, though the overall performance is good, profits
are not sufficient to declare dividend. Hence, your directors do not
recommend any dividend in order to plough backthe profits into
business.
3. The year in Review 2008 2009 A Year of Transition
Your Companys performance this year was satisfactory. Your company is
confident of achieving much better results in the coming years.
During the year 2008-2009, the Company has acquired 100% stake of M/s.
Animantz Creative Animators Private Limited, a Chennai based Company in
the field of animation and other related software, by allotting the
shares of Crazy Infotech Limited on swap basis, thereby making it a
100% subsidiary This will help the Company to grow in the
Strengthen General Reserve
At the end of the financial year 2008-09, your Company has added
Rs.47,090 to General Reserve and the balance profit was carried to
Balance Sheet.
Income from Operations and Business Spread
During the year, the company has achieved total income from operations
Rs. 1108.79 lacs which comprises as follows:
Particulars Rs.in lacs % to total
i) Sale of Hardware 399.57 36.04
ii)5oftware Development 529.23 47.73
iii) Education & Training 179.99 16.23
1108.79 100.00
Revenues generated by the company are only from three divisions
mentioned above. Revenues from another division job portal division -
is would be expected to flow from thecurrentyear(2009-10)onwards.
Revenues from education and training constitute only 16.23% which is
expected to improve a lot in the current fiscal. The revenues generated
are only from the operations concentrated in and around Chennai city
and some districts, places in Tamil Nadu and neighboring places of
Andhra Pradesh It is inevitable to expand the activities and presence
of the company in entire state of Tamil Nadu, Andhra Pradesh, if the
revenues to increase or multiply. The sincere efforts or initiatives
are already on towards the increase of base of operations and expected
to reach the targeted levels during the currentfiscal 2009-10.
4. Future Outlook
i) Current Business Operations
a) Sale of Computer Hardware, Peripherals and Annual Maintenance.
b) Mini ERP Software Development, Networking Solutions.
c) IT Education and Training from basics to advanced courses.
d) Job portal for placement and Recruitment which is launched in the
financial year 2008-09.
ii) Proposed additional operations
a) IT and IT Enabled Services.
b) Infrastructure Managementand Solutions, Services
c) Exhibitions and Innovations as a separate division.
d) IT Education and Training at grass root level.
e Engineering Services, Technology offerings, Domain Services etc.,
f) BPO and Call Center Education and Training.
g) Developmentofportalsandwebsite.
iii) One-stop solution centres:
Concept: Creation of one-stop solution centres on retail basis across
length and breadth of the country for spreading IT knowledge and to
provide one-stop solutions to the customers.
Effect : Blend of current business operations and the proposed with the
right combination of people and placing them at one centre to be called
as Retail centre.
Expansion: The Company has embarked on expansion program for setting up
these Retail centers in partnership with the interested business
partners.
iv) Other Growth Oriented Initiatives
1. Technology Partnership /Tie-up
In a bid to increase the organic strengths, the company is planning to
strike one or two technologytie-updeals and
partnershipsduringthefinancial year 2009-10.
2. Intra Partnership
In order to have multi-city multi-location operations through out the
country the company proposes to round off few intra-partnerships in the
run-up to have multi-area operations.
3. Talent acquisition or Recruitment
i) Our talent acquisition process evaluates needs and acquires talent
in tune with our business needs. Our talent acquisition is driven by
the annual business plan covering number of people required by location
and their levels and rules in the organization. This annual business
plan is monitored and adjusted based on business visibility on a
monthly basis on a periodic basis, our operations team presents to the
management team about company-wide utilization and staffing needs based
on business visibility.
ii) People Profile
Our talent acquisition process is headed by right mix of people. This
team will pick up right talent, right profile to right job besides
education profile of the person.
iii) High Performance and High Caring Culture
Our culture of reward the deserved goes long way in attracting and
retaining talents.
iv) Training
Our Talent base group is responsible for coordinating and conducting
training sessions for our people. We believe that we are all depending
on ones talent. So talent is a base which in turn create talent that
is our logic behind in use of the term talent base
v) Compensation
We offer competitive packages matching talent, industry trends etc. The
compensation packages are adjusted annually based on industry
standards, surveys and individual performance.
5. Deposits
Your Company has not accepted any deposits within the meaning of sec
58A of the Companies Act, 1956 and rules made there under.
6. Directors
In accordance with provisions of the Companies Act, 1956 and the
Companys Articles of Association, Mr.C.Rajendran and Mr.K.Jayasekar,
Directors retire atthe Seventeenth Annual General Meeting of the
Company and being eligible offer themselves for Re- appointment.
7. Auditors
Mr.T. S. Ranganathan, Chartered Accountant, who is retiring at the
conclusion of ensuing annual general meeting has expressed his
unwillingness to be re-appointed as auditor. The Company has received a
special notice from the shareholder of the Company proposing
Mr.R.Selvaganesh, Chartered Accountant, as auditor of the Company in
the place of retiring auditor, to hold office from the conclusion of
this Annual general Meeting until the conclusion of nextAnnual General
Meeting.
8. Conservation of Energy, Technology Obsorption and Foreign Exchange
Earning & Outgo
Since the Company dose not fall under the various categories of
Industries mentioned in schedule to "Form A" rule 2 of the Companies
(Disclosure of particulars in the Report of Board of Directors) Rules
1988, made pursuant to the provisions of Sec 217(1) (e) of the
CompaniesAct, 1956. Hence, the disclosure of particulars were not
given.
There was no (realized) foreign earnings and outgo during the year
under review.
9. Directors Responsibility Statement
Pursuant of the provisions of sub-sec (2AA) of Sec 217 of the
CompaniesAct, 1956 your Directors confirm that:
a) In the preparation of annual accounts, the applicable accounting
standard had been followed by the management.
b. The Directors 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 of and of the profit or
loss of the company forthe period.
c. 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.
d. The directors had prepared the annual accounts on a going concern
basis.
10. Particulars of Employees
Statement of Particulars of Employees as required by the provisions of
sec 217(2A) of the Companies Act 19856 read with the Companies
(Particulars of Employees) Rules 1975 is not given as there is no
employee in regard to which particulars is requiredI.
11. Acknowledgments
Your Directors acknowledge gratitude the cooperation and assistance
received from the Government, Banks, Investors and all those associated
with the Company during the year under review.
Place : Chennai On behalf of the Board of Directors
Date : 03.09.2009
Sd/- Sd/-
Mr.N.Aravind. Mrs.A.Anitha
Managing Director Director