smstechsoft (i) ltd annual report 2011-12

8/11/2019 SMSTECHSOFT (I) LTD Annual Report 2011-12

1/39

SMS TECHSOFT INDIA] LIMITED

[FORMERLY KNOWN AS AKL SOFT AND INFOSYS INDIA) LTD.]

7THANNUAL REPORT


2/39

SM S TECHSOFT rINDI ] LIMITED

F o r m e r ly K n o w n sA K L S O F T I N F O S Y S I N D I A ) L I M I T E D

Regd. Office : 325 Pate1 Road

Ramnagar

Coimbatore -64100 9.

Board of Directors : Mr. V. Jagadish Managing Director

Mr. Akash Kad andale Director

Mr. Peran aidu Siddh iah Devraj Director

Mr. Dilipbhai J Gajjar -Director

Mr. Dashrathk uma r

K

Khatri Directo

Auditors

:

Ashit T. Macwan

B/14 Sth apty a Nr. Sterlin g Hospital

Gurukul Ahm edabad-3800 52

Bankers : Stan dard Chartered Grindlays Bank

509 D.B.Road R.S. Puram

Coimbatore 641002

Stock Exchanges wh erein th e s hares

Of the Company ar e listed

1

The C oimb atore Stock Exchange Ltd.

Stock Exchange Bu ildings

Trichy Road Singanallur

Coimbatore 45.

2. The Stock Exch ange Mumbai

25th Floor P.J.Towers

Dalal Street Fort

Mumbai 400001.

3. Th e Madras Stock Exchange Ltd.

Exchange Building

Po st Box No. 1 83

11 Second Line Beach

Chennai 600001.


3/39

SM S TECHSOFT INDIA1 LIMITED

Former ly Known sAKL SOFT INFOSYS INDIA) LIMITED

NOTICE

Notice is hereby given that the Annual General Meeting of SMS TECHSOFT INDIA)

LIMITED [Form erly known a s AKL Soft Infosys India) Limited] will be held at Regd.

Office at 325, Pate1 Road, Ram Nagar, Coimbatore on 28th September, 2012 at

10.OOA.M. at the registered office of the company to transact the following business:

ORDINARY BUSINESS:

1

To receive consider and adopt the Audited Accounts of the company for the year

ended 31stMarch 2012 and the Report of the Directors and auditors thereon.

2. To appoint Director in place of Mr. Dashrathkumar Khatri, who retires by

rotation and eligible for re-appointment.

3. To appoint Auditors, and to fix their remuneration.

SPECIAL BUSINESS:

4. To consider and if thought fit, to pass with or without modifications, following

resolution as ordinary resolution.

RESOLVED THAT pursuant to Section 198,269, 309, 310 read with schedule XI

and other applicable provisions,

if

any of Companies Act, 1956 and provisions of

Article of Association of the Company, Mr. Jagadish Vittal, be and is hereby

reappointed as the Managing Director of the Company for a period of 5 (Five) years

w.e.f 01/04/2012 on such remuneration as may be decided by the Board of

Directors in consultation with Shri. Jagdish Vittal.



RESOLVED THAT

A

THAT pursuant to the provisions of section 13, 16, 94 and other applicable

provisions of Companies act, 1956 or any amendment, modification or re-

enactment thereof form time to time and in accordance with the provisions of

articles of association of the company and subject to such approvals, consent,

permissions and sanctions, if any required from any authority, the existing

equity shares of the company of the face value of Rs. 101- each be and are hereby

sub divided into 10 (Ten) equity shares of Rs.

11-

each(0ne)and consequently,

the authorized share capital of the company of Rs. 355000000/- (rupees thirty

five crore

fifty

lacs only) be divided into 355000000(Thirty Five crore fifty five

lacs only) equity shares of Rs. 11-each(0ne) with effect from the Record Date to

be determined by the board of directors of the company( The Board which

term shall be deemed to include any committee whether existing or to be


4/39

Formerly Known

as

AKL SOFT INFOSYS (INDIA) LIMITED

constituted to execute its powers conferred by this resolution thereof) for the

purpose.

B THAT pursuant to the sub division of the equity shares of the company, the issued,

subscribed And paid up equity shares of the company of the face value of Rs. 101- each as

existing on the record date, shall stand sub divided into equity shares of the face value of

Rs.

11-

each fully paid up with effect from the record date.

THAT the ten equity shares of Rs.

11-

each to be allotted in lieu of equity shares of Rs.

101- each shall be subject to terms of the memorandum and articles of association of the

company and shall rank pari passu in all respects and carry the same rights as existing fully

paid up equity shares of Rs. 101- each of the company and shall be entitled to participate in

full any dividend, if any, declared after the sub divided equity shares are allotted.

D THAT the existing share certificates in relation to issued equity shares of the company

held by members in physical form be cancelled and in lieu thereof fresh certificates be

issued for sub divided equity shares in accordance with the provisions of the companies

[Issue of shares certificates) Rules, 1960 and where members hold equity shares in

dematerialized form, the sub divided equity shares in lieu of the existing equity shares be

credited to the respective beneficiary accounts of the members with the respective

depository participants.

E. That for the purpose of giving effect to the above resolution, the board be and is

hereby authorized to do all such things, acts, deeds matters and things including but

not limited to calling back the existing share certificates and if so decided to issue

new share certificates without seeking old certificates, to execute all such

documents, instruments, undertaking and writing as may be required in this

connection, to delegate all or any of the powers vested in the board to any

executives of the company and give such direction as may be necessary or expedient

and to settle any question, difficulty or doubt that may arise in this regard as the

board in its absolute discretion may deem necessary and its decision shall be final

and binding.

5. To consider and if thought fit, to pass, with or without modifications, following


RESOLVED THAT pursuant to section 16 and other applicable provisions, if any of

companies act, 1956 including any statutory modification and re enactment thereof

from time to time, the first sentence in the existing clause V of Memorandum of

Association of the company relating to the share capital be substituted by the

following.

V The authorized share capital of the company is Rs. 35,50,00,000/- Rupees Thirty

five crores Fifty Lacs on1y)divided into 35,50,00,000 equity shares of Rs.11- Rupees

one only) each.


5/39

SMS TECHSOFT [INDIA LIMITED



resolution as a special resolution.

RESOLVED THAT pursuant to section 31 and other applicable provisions of

companies act, 1956 including any modification thereof form time to time, the

existing article 5 of articles of association of the company be substituted by the

following:

5.

The authorized share capital of the company is Rs. 35,50,00,000/- Rupees Thirty

five crores Fifty Lacs on1y)divided into 35,50,00,000 equity shares of Rs.l/- Rupees

one only) each.

Place: Coimbatore By order of the Board of Directors,

Date: 01/09/2012 FOR SMS TECHSOFT INDIA) LIMITED

[Formerly known

as

AKL SOFT INFOSYS INDIA) LIMITED]

NOTES:

1

MEMBER ENTITLED TO ATTEND ND VOTE AT THE BOVE MEETING IS

ENTITLED TO APPOINT PROXY TO ATTEND

ND

VOTE INSTEAD OF

HIMSELF/ HERSELF ND SUCH PROXY

NEED

NOT

BE MEMBER

OF THE

COMPANY. INSTRUMENT OF PROXY N

ORDER

TO BE EFFECTIVE MUST BE

RECEIVED BY THE COMPANY NOT LESS THAN 48 HOURS BEFORE THE

MEETING.

2. The Register of Members and Share Transfer Books of the Company will remain

closed from 24th Sept. 2012 to 28th Sept. 2012 both days inclusive).

3. As a measure of economy, Annual Report will not be distributed a t the Meeting.

So, members are requested to bring their copy of Annual Report with them to

the Annual General Meeting.


6/39

SM S TECHSOFT (INDIA ) LIMITED

Former ly Known

as

AKL SOFT INFOSYS INDIA) LIMITED

EXPLANATORY STATEMENT PURSUANT TO SECTION 1 7 3 f 2 1 OF

TH

COMPANIES ACT. 1956

I t e m N o - 4

Mr. Jagdish Vittal was appointed as Director on the Board of the Company since

incorporation. He was appointed as Managing Director of the Company for a term

of 5 years. Board decided to continue him as Managing Director and hence wants to

re-appoint him as Managing Director for a term of 5 years w.e.f. 01/04/2012

subject to approval by share holders of the Company in General Meeting.

Remuneration payable to Mr. Jagdish Vittal as Managing Director will be decided by

Board of Directors in consultation with Mr. Jagdish Vittal.

None of the directors, except Mr. Jagdish Vittal are interested or concerned in the

resolution.

JtemN o

5.6

7

With a view to enhance the shareholders wealth, easy accessibility of the equity

shares of the company to small shareholders, Borad of directors at their meeting

held on s t Sept, 2012 considered and recommended the sub division of equity

shares of the company form the present Rs 101- per share to Rs. I / per share. It is

expected that

If

sub divided, it will increase its affordability and provide better

liquidity.

Accordingly, The authorized share capital of the company of Rs. 35, 50,00,000 will

be sub divided into 35, 50,00,000 equity shares of Rs.l/- each. The issued,

subscribed and paid up share capital as existing on the record date for the purpose

of sub division of equity shares will be sub divided into equity shares of the face

value of Rs. I / - per share each fully paid up.

Consequent to sub division of equity shares of the company It is necessary to

amend clauses relating to share capital of the company in the memorandum and

articles of association of the company. Accordingly, resolution at item no 6 ara

also placed for approval of members. The consent of members is being sought in

accordance with the provisions of section 13, 16 and 9 4 and other applicable

provisions of companies act, 1956.

Directors of the company are concerned or interested in the resolution to the extent

of their shareholding in the company.

Place: Coimbatore

By order of the Board of Directors,

Date: 01/09/2012

FOR SMS TECHSOFT INDIA) LIMITED

[Formerly know n

as

AKL SOFT INFOSYS N D IA ) LIMITED]

CHAIRMAN


7/39

SMS TECHSOFT fINDIA] LIMITED

Formerly Know n sAKL SOFT INFOSYS INDIA) LIMITED

DIRECTORS REPORT

7 01

The Members,

Your Directors have pleasure in presenting the Annual Report of the Company

together with the Audited Accounts for the financial year ended on 3lStMarch 2012.

1 Financial Results

(Rs. in lacs)

Particulars

2011-12 2010-11

Sales

Other income

Depreciation

Profit/ Loss before Tax 01.94

Profit/Loss after Tax 01.22

During the current year your company has achieved a reasonable level of

growth. We are hoping that the phenomenal growth shall be achieved during the

next coming years.

Mr. Dashrathkumar Khatri, Director of the company retires at the ensuring

Annual General meeting and eligible for re-appointment.

3. Personnel

Your directors wish to place on record their appreciation for the contribution to

growth of the business made by employees at all levels. Information as required

pursuant to section 217(2A) of the companies Act, 1956 has not been given, as it

is not applicable.


8/39

Formerly Known as AKL SOFT INFOSYS (INDIA) LIMITED

4

Auditors

M/s Ashit T. Macwan, Chartered Accountants, Ahmedabad, Auditor of the

Company retire at th e conclusion of ensuing Annual General M eeting and being

eligible, offer themse lves for R e-appointment.

5. Deposits

During the year, C ompany has n ot accepted int er co rpora te D eposits, which falls

und er Section 58A of C om panies Act, 195 6.

r w , Techmlo-~nd E x c h a n ~ e

The additional information required to be disclosed in terms of notification

No.1029 dated 31St December, 19 98 issued by th e D epartm ent of Company

Affairs, Ministry of Finance is no t applicab le.

Pur suan t to Section 217(2A] of Companies Act, 19 56, th e Directors confirm tha t:

i. In th e prep aratio n of Annual Accounts, app ropr iate accounting standa rd have

been followed.

ii. App ropriate accounting policies have been selected and applied consistently

and judgments and estimates made tha t are reasonable and prude nt so as to

give tru e an d fair view of state of affairs of th e com pany a t the e nd of

financial ye ar end ed 31 st March, 2012.

iii. Proper and sufficient care has been taken for the maintenance of adequate

accounting records in accordance with the provisions of Companies Act,

19 56 for safe guarding the a ssets of the company an d for preventing and

detecting fraud and oth er irregularities.

iv. The Annual Accounts have been prep ared on going concern basis.

8

Auditor s O ualific atio~

Auditors have qualified their report to the members of the Company. In this

connection directors of the Company have discussed th e sa me a t arm s length on

the recommendation of audit committee and have imitated to take necessary

action s o as to sh ow fair view of sta te of affairs of the c om pany in the coming

financial yea r.


9/39

SM S TECHSOFT INDIA] LIMITED

Former ly Known as AKL SOFT INFOSYS INDIA) LIMITED

9. Preferential issue of shares;

During the financial year, Your company has issued 30000000 shares on

preferential basis to promoters/ other than promoters to raise fund for future

expansion programme of the company.

10. Report on Cor~ or ate overnance

Compliance Report on Corporate Governance is a part of Annual Report is

annexed herewith.

Your Directors wish to please on record their appreciation of the whole hearted

co-operation extended to company from various departments of the central and

state governments, company bankers and financial institutions and employees

of the company and look forward for the same cordial relationship in coming

years.

PLACE: COIMBATORE

DATE 01/09/2012

FOR

ND

ON BEHALF. OF THE

BO RD

CH IRM N


10/39

SMS TECHSOFT [INDIA] LIMITED

Formerly Known asAKL SOFT INFOSYS INDIA) LIMITED

ANNUAL REPORT 2011 12

REPORT O F THE DIRECTORS ON CORPORATE GOVERNANCE

The Securities an d Exchange Board of India SEBI) constitu ted th e Comm ittee on

Corporate Governance to prom ote and raise the stan dar d of Corpo rate Governance

of listed com panies. The Com mittee has made recomm endation on th e composition

of the board of directors, aud it committee, board proced ure etc.

The company has taken necessary steps to comply with the clause of 9 of the

revised Listing Agreement given below is the repost of the Directors on the

Cor porate Governance.

REPO RT ON CORPO RATE GOVERNANCE

1. COMPANY S PHIL OSO PHY ON CODE OF CORPORA TE GOVERNANCE:

The Company believes in functioning in a transparent manner with the basic

philosophy being to enhance the Shareholder value, keeping in mind the needs and

interest of other stakeholders, in compliance thereof. The following information is

placed before the shareh olders.

1. BOAR D OF DIRECTORS

Nam e of Directo r Category No. of At ten de d Last AGM

Board Attendance

Shri Akash

Kadandale

Meeting

Shri V. Jaga dish Mg. Director 8

8

Promoter director

I l Y e s I

Yes

Shri Peranaid u Non executive

8 8

Devraj

Indep enden t Director

Shri. Dilipbhai

J

Non Executive

8 8

Gajjar Ind epe nd ent Director

Shri. Non Exe cutive

Yes

Yes

Dasharathkumar

K.

Indepe nden t Director

8 8

Khatri

Yes

No Directors are having Chairmanship of mo re than five com panies where they ar e

director.


11/39

SMS TECHSOFT INDIA] LIMITED

Formerly Known sAKL SOFT INFOSYS INDIA) LIMITED

In line with the requirements of the code of the corporate governance, the board of

directors comprises of three members. However, Your Company is trying its level best

to accomplish the revised clause-49 of listing agreement.

Name of Director

ShriV Jagadish

Shri Akash Kadandale

Shri Peranaidu Devraj

Shri. Dilipbhai Gajjar

Shri. Dashrathkumar Khatri

Company does not have any system of payment of remuneration to independent

Directors.

Other Directorship

(No. of Company)

5

Further during the year, meeting of Board of Directors was held Eight times.

A

declaration signed by Shri

V

Jagadish, Managing Director of the company according

compliance of sub-clause (ID) of Clause 49 of the listing Agreement is attached

herewith forming part of his Annual Report.

2 AUDIT COMMITTEE

Presently the company has Five Directors. The company has independent internal

Auditors who submit the report to the management on monthly basis and action is

taken on the same by the Managing Director on regular basis.

Pursuant to the revised clause 49 of the listing agreement, the company has appointed

Audit committee consisting of followings:

(i) Mr. V

Jagadish

Chairman

(ii) Mr. Peranaidu Devraj Member

(iii) Mr. Dilipbhai Gajjar

Member

The scope of committee includes.

a. Review of company s financial reporting process and the financial statement.

b.

Review internal control systems and functioning of internal audit process.

c. Post audit review with statutory auditors.

During the year under review, Audit committee met four times where all the members

attended meetings.


12/39

SMS TECHSOFT INDIA3 LIMITED

Formerly Kno wn asAKL SOFT INFOSYS INDIA) LIMITED

3

REMUNER ATION COMMITTEE

No rem uneration w as paid to directors during the year an d they have waived their par t

of rem une ration . No sitting fees a re payable to any D irector.

Rem uneration c om mittee con sisting following:

(i) Mr. Pera naid u Devraj -Chairman

(ii) Mr. Akash Jag dish -Mem ber

(iii.) Mr. Da shra thku ma r Khatri -Mem ber

4 SHAREH OLDERS COMMITTEE

The company has complied the requ irement of the su b clause

VI

(A), (B) of the clause

49 of the Listing agreemen t.

The composition of shareh old ers cum investors grievance com mittee wa s as follows:

i) Mr. Akash Kad andale Ch airman

(ii) Mr. Pera naid u Devraj M emb er

During the year, the company and their Registrar and Share Transfer Agents M/s

Sharepro services India Pvt. Ltd. has not received any complaints. It is policy of the

company to give reply of shareh olders complaint within the time frame prescribed by

th e SEBI/Stock Exchanges.

The Share received for transfer is approved on 15th and 30th of the each month and are

given effect by th e R egistrar and Share Transfer Agent.

MIS

Sh arep ro services India Pvt. Ltd, wa s app oin ted as com mo n Agent for electronic as

well as physical sh are transfer w ork.

There a re no special resolutions passed by the compan y through postal ballot at any of

the above an nual general meeting.

6

DISCLOSURES:

Location

325 , Patel road, Ram nagar,

Coimbatore, Tamil nadu

Date

30/09/2009

30/09/2000

30/09 /2011

(A)

During the year under review, the quarterly unaudited results were taken on

record b y th e Board of Directors at th e end of mo nth of respective qua rter.

However in term s of clause 4 1 of Listing Agreement, the sam e were furnished to

Type

AGM

AGM

AGM

Time

10.0 0 AM

10.00 A.M.

10.00 A.M.


13/39

SMS TECHSOFT fINDIA1 LIMITED

Former ly Know n

as


the concerned stock exchanges were also circulated in the newspaper within

the stipulated time.

(B)

Company has followed accounting standards diligently.

C)

Further, company is in the process of lying down risk assessment system.

D) Further, company has received any funds through capital market during the

year.

E)

Transaction with related parties have been properly disclosed in notes to

accounts and discussed a t length by audit committee.

F)

Management discussion and analysis report is attached to and forms part of this

report.

G)

Further, Shri

V

Jagadish, Managing Director of the company as certified to

board of directors of the company regarding compliance of sub-clause v) of

clause 49 of listing agreement.

7

MEANS OF COMMUNICATION:

The means of communication between the Shareholders and company are transparent

and investor friendly. Steps are being taken to display the corporate results on the

EDIFAR Corporate website, which is being developed.

8 GENERAL SHAREHOLDERS INFORMATION

Annual General Meeting: Date: 28/09/2012

Date, Time Venue)

Time 10.00 a.m.

Venue: 325, Pate1 Road,

Ram Nagar,

Financial Calendar

Date of Book Closure

Dividend Payment Date

9

m

oimbatore

1st April 2011 to 31St March 2012

From 24th Sept.2012 to 28th Sept. 2012

Both days inclusive)

No Dividend declare

The Bombay Stock Exchange Limited-531838

The Madras Stock Exchange Limited

The Coimbatore Stock Exchange Limited


14/39

Formerly Known as AKL SOFT INFOSYS INDIA) LIMITED

MONTH

April, 2011

May, 2011

M/s. S ha rep ro serv ices India Pvt. Ltd.

13 AB Sm itha W areh ous ing Complex, Sakinaka Teleph one Lane,

Sakinaka, And heri [East

Mumbai

400 072

Fax: 2859156

Prom oters an d Relatives

,

Banks/ FII/ FI

Public

Body Corp orate

NRI

14

HARE TRANSFE R SYSTEM;

HIGH (RS.)

N.A.

N.A.

The share transfer w ork is handled by registrar and trans fer agen t for the company.

Share Transfers ar e registered and dispatched w ithin a period of thirty days from the

date of th e lodgm ents if the tra nsfe r docum ents are c orrec t an d valid in all respects.

LOW IS.)

N.A.

N.A.

une,

2011

July,

2011

August, 2 0 1 1

September, 2 0 1 1

October, 2011

November,

2 0 1 1

December, 2 0 1 1

January, 2012

February,

2012

March, 2012

N o

of

S h a r e s

1748000

0

32846516

462684

0

P e r c e n t a g e

4.99

0.00

93.69

1.32

0.00

N.A.

N.A.

N.A.

N.A.

N.A.

N.A.

5.00

4.25

3.99

3.01

N.A.

N.A.

N.A.

N.A.

N.A.

N.A.

1.00

1.47

2.47

2.32


15/39

SM S TECHSOFT CINDI ] LIMITED

F o r m e r l y K n o w n as A K L S O F T I N F O S YS I N D I A ) L I M I T E D

Outstanding GDRs/ADRs/Warrants or any Convertibles N.A.

instruments and conversion date and likely impact on Equity

Address for Correspondence

325, Pate1 Road,

Ram Nagar

Coimbatore

35014000 equity shares out of 35057200 Equity shares of the company have been

dematerialized as at 31St March, 2012 representing 99.87 of total paid-up capital of

the company.

For and On behalf of the Board of Directors

Date 01/09/2012

Place Coimbatore

Mr.

V

Jagadish

Managing Director


16/39

Formerly Known

as


MANAGEME-NT DISCUSSION AND ANALYSIS

1 Overall Review

The overall perform ance during the financial year 2011-1 2 has be en satisfactory.

2

Financial Review

Total tur no ve r for th e ye ar end ed 31 March, 201 2 was Rs. 71.45 lacs. This

increase was mainly on acc ount of impro veme nt in manufacturing process and

sales promotion drive. Better working capital management was also one of the

emph asis on which prope r weightage was laid upon.

3 Internal Control System and their adequacy

Considering the s ize of the company, your company has adequate system of

internal control to provide reasonable assurance tha t assets ar e safeguarded and

protected from unauthorized use o r deposi tion.

4 Business Environment

The Performan ce of the company for the ye ar u nde r review w as satisfactory.

5 Risk and Concern

The building, plant and machinery, vehicle and stocks of the company are

adequately insured.

6

Cautionary Statement

Statements in this report on management Discussion and analysis may be

forward looking s ta tem ents within th e meaning of appl icable securi ty laws or

regulat ions. These s tatements are based on certain assumptions and

expec tations of futu re events. Actual re sults could however, differ m aterially

from those expressed or implied. Important factors that could make a different

to the Company's operat ions include global and domest ic demand supply

conditions, finished goods prices, ra w m aterial co st and availabili ty and changes

in gove rnme nt regulat ion and tax s t ructure, economic developm ent within India

and the countries with which the company has business contacts and other

factors such a s l it igation and industrial relations.


17/39

SM S TECHSOFT [INDIA) LIMITED

Former ly Known

s


The Company assumes no responsibilities in respect of forward looking

statements which may be amended or modified in future on the basis of

subsequent developments, information of event.

Y ORDER

OF THE

BO RD

OF DIRECTORS

Place: Coimbatore

For

SMS TECHSOFT INDIA) LIMITED

Date 01/09/2012

Formerly Known as KL SqFT INFOSYS INDIA) LTD)

Mr.

V

agadish

Chairman


18/39

SMS TECHSOFT fINDIA] LIMITED

Formerly Known as AKL SOFT INFOSYS INDIA) LIMITED

CERTIFICATION BY MANAGING DIRECTOR TO T HE BOARD

I

Mr.

V.

Jagadish, Managing Director of the

SM S TECHSOFT [INDIA LIMITED

[Formerly know n a s

AKL

Soft Infosys India) Limited]

certify tha t:

1

I have reviewed the financial statements for the year and that to the best of my

knowledge a nd belief:

a. These state me nts do not contain any materially untru e state me nt or omit any

material fact or contain statem ents th at m ight be m isleading.

b. These s tate m ent s give a tr ue and fair view of the sta te of affairs of th e company

and of the results of operations and cash flows. The financial statements have

been pre pa red in conformity, in all material re spects, with t he existing generally

accepted accoun ting principles including Accounting Stan dards, applicable laws

and regulations.

2. These are, to th e be st of our knowledge and belief, no transactions entered into by

the company during the year which are fraudulent, illegal or violative of the

company s code of conduct.

3.

I

accept overall responsibility for th e company s intern al con trol system an d

financial reporting. This is monitored by the internal audit function, which

encompasses the examination and evaluation of the adequacy and effectiveness.

Internal aud it work s w ith all the levels of managem ent an d statutory auditors and

reports significant issues to the Audit Committee of the Board. The auditors and

aud it com mittee a re apprise d of any corrective action taken with reg ard to

significant deficiencies and material w eakne ss.

4.

I

indicate to the auditors an d to t he audit comm ittee:

a. Significant change s in internal control over financial reporting during the year.

b. Significant change s in accounting policies during the year;

c. Instances of significant fraud of which w e have becom e aw are of and which

involve management or other employees who have significant role in the

company s intern al control system over financial reporting.

However, during the yea r there w ere no such changes o r instances.

Date 01/09/2012

Place Coimbatore Managing Director


19/39

ormerly ~ n o w n

s

AKL SOFT- INFOSYS INDIA) LIMITED

DECLARATION BY THE CHAIRMAN MANAGING DIRECTOR AB OU T

CORPORATE GOVERNANCE

I,

Mr.

V.

Jagad ish Chairm an Managing Director of

SM S TECHSOFT INDIA)

LIMITED [Formerly know n as AKL Sof i Infosys Ind ia) Limited] hereby confirm

purs uant to clause 49(1)(d) of the listing agreem ent that:

1

Th e boar d of d irec tors of SMS Techsoft (India) Limited [Formerly know n as AKL Soft

Infosys India) Limited] has laid dow n a code of cond uct has been placed on th e

company's website.

2.

All the m em bers of the board as well as senio r manag em ent personal have complied

with the said code of conduct for the year ended 31 March 2012.

Place: Coimb atore

Date: 01/09/2012

Mr.

V.

Jagadish

Chairm an Managing Director


20/39

-FT fINDIA) LIMITED


To,

The Members of


[Formerly known as AKL soft lnfosys India) Limited]

We have examined the compliance of the conditions of corporate Governance by SMS

TECHSOFT INDIA) LIMITED

[Formerly know n as AKL Soft Infosys Ind ia) Limited]

for the year ended on March

31,

2012, as stipulated in Clause 49 of the listing

Agreements of the said Company with the Stock Exchanges.

The compliance of conditions of Corporate Governance is the responsibility of the

management. Our examination was limited to a review of the 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 the opinion on the financial statement of the Company.

In our opinion and to the best of our information and according to the explanations

given to us and based on the representations made by the Directors and the

Management, we certify that Company has complied with the conditions of Corporate

Governance as stipulated in Clause 49 of the above-mentioned Listing Agreement.

We state that such compliance is neither as 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.

Place

Ahmedabad

Date 01/09/2012

For, ASHIT T. MACWAN

Chartered Accountants

Ashit T ~ a c w a n

Proprietor


21/39

To

The Mem bers of

SMS TECHSOFT INDIA ) LIMITED

[Formerly kno wn as AKL Soft Infosys India) Limited]

Coimbatore.

We have examined the compliance of the condit ions of corporate Governance by

SMS TECHSOF T [INDIA] LIMITED

[Formerlv kno wn as AKL Soft Infosvs /India)

Limited7

for the yea r end ed on March

31,

2012 as st ipulated in Clause 49 of th e

list ing Agreemen ts of th e said Company with t he Stock Exchanges.

The comp liance of cond it ions of Corporate Governance is the respon sibil i ty of th e

management . Our examinat ion was l imi ted to a review of the procedures and

implementat ion thereof adop ted by the Company for ensurin g the compliance of the

conditions of Co rpora te Governance as s t ipulated in the sa id Clause. It is neither a n

audi t nor an express ion of the opinion o n the f inancia l s ta te me nt of the Company.

In o ur opinion and t o th e bes t of ou r informat ion an d according to th e explanat ions

given to us and based on the representa t ions made by the Di rec tors and the

Management w e certify tha t Company has complied with th e condit ions of

Corporate Governance as s t ipulated in Clause 49 of the above-mentioned Listing

Agreement.

We s ta te that such compliance s nei ther as assurance as to th e futu re viabil ity of th e

Company nor the efficiency or effectiveness with which the management has

conducted t he affairs of the Company.

Place : Ahmedabad

Date : 01 / 09 / 2012

For ASHIT T. MACWAN

.


,

.

__ . Proprie tor


22/39

AUDITOR S REPORT

To

The M em bers of

SMS TECHSOFT (INDIA) LIMITED

[Formerly know n as AKL Soft Infosys lndia ) Limited]

Coimbatore

We have audited the attached Balance Sheet of

SMS TECHSOFT (INDIA) LIMITED

[Formerly known as AKL Soft Infosys India) Limited], as at 31st March, 2012

togeth er with the Profit Loss Account and the Cash Flow sta tem en t for the year

ended on th at date annexed thereto. These financial state m ents are the

responsibility of the com pany s manag ement. Our responsibility is to express an

opinion on these financial statem ents based on o ur audit.

We conducted o ut au dit in accordance with auditing standa rds generally accepted in

India. Those standards require that we plan and perform the audit to obtain

reasonable assurance about whether the financial statements are free of material

misstatement. An audit includes examining, on a test check basis, evidence

supporting th e am ounts and disclosures in the financial stateme nts. An a udit also

incIudes assessing the accounting principles used and significant estim ates m ade by

management, a s well as evaluating th e overall f inancial sta tem ent presentation. We

believe th at o ur au dit provides a reasonable basis for our opinion.

As requ ired b y the C ompan ies (Auditor s Report) Order, 2003, issu ed by the Central

Government of India in terms of the Section 227 (4A) of the Companies Act, 1956,

we give in the anne xure a statem ent on the matters specified in paragraph 4 5 of

the said order.

Fur ther to our com ments in the annexure referred to above, we repor t tha t :

a.

We have obtaine d all th e information and explanations which to th e best of our

knowledge an d belief w ere n ecessary for the p urpos e of our Audit;

b.

In our opinion proper books of accounts as required by law have been kept by

the company so far as i t app ears from o ur examination of books of accounts.

c. The Balance Sheet, Sta tem ent of Profit and Loss and Cash flow sta tem en t dealt

with by this rep ort a re in agreem ent with the books of account;

d.

In ou r opinion the Balance Sheet, Profit Loss Account and Cash Flow

statement dealt with this report are in compliance with the accounting

sta nd ard s referred t o in Section 21 1 (3C) of the c om panies Act, 1 956.


23/39

e.

On the b asis of wri t ten representa t ions received f rom th e di rec tors as on 31St

March, 2012 and taken on record s by the Board of Direc tors , w e repo rt tha t

none of the di rec tors of the com pany ar e disquali fied f rom being appointed as

direc tors of th e com pan y un de r clause g) of sub-section 1) of section 274 of

the companies Act, 195 6.

f.

In o ur op in ion and to the be s t of o ur in forma t ion an d accord ing to the

explanation given to us, the said accounts read together with the Significant

Accounting Policy and Notes thereto give the information required by the

Companies Act, 1956, in th e mann er so requi red and give a t rue fa i r v iew in

conformity with t he accoun ting principles generally accepted in India;.

1) In th e case of th e Balance Sheet, of th e st ate of affairs of the com pan y as on

31st March, 2012;

ii) In th e case of th e sta tem en t of Profit Loss, Acco unts of th e Loss for the

yea r ended o n tha t da t e ; and

iii) In th e case of th e Cash Flow Stateme nt, of the cash flows for th e year end ed

on tha t da te .

Place

:

Ahmedabad

Date

:

0 1 / 0 9 / 2 0 1 2

For Ashit T. Macwan


Ashit

T.

Macwan)

Proprietor

Mem No. 10 78 91


24/39

ANNEXURE REFERRED TO IN PARAGRAPH

3

OF OUR AUDITORS REPORT OF

EVEN DATE OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED

3lSt

MARCH 2 12

On the basis of such checks as we considered appropria te and the terms of the

informat ion and explanat ions given to us, we sta te tha t :

1 (a) The C ompany has mainta ined prop er reco rds sho wing full par ticulars

including qua nti tat iv e and si tuation of fixed assets.

(b) As explained to us fixed assets ar e not physically verified by the ma nagem ent

at reaso nab le intervals in a phased verificat ion pro gram , which in ou r

opinion i s not reason able looking to the s ize of the company a nd th e natu re

of i ts business.

(c) In ou r opinion, th e com pany has not disposed off any substa ntial pa rt of i ts

fixed assets so as t o effect in i t going concern.

2.

The Company doe s not hold any stocks of f inished goods, s tores , spar e par ts ,

work-in-progress or raw materials. Hence the question of physical

verificat ion, reconcil iat ion, maintenance or records, discrepancies or

valuat ion doe s no t ar i se .

3 . In respect of loans, secured or unsecured, granted or taken by the company

to f rom com panies, f i rms, or othe r par t ies covered in the register m ainta ined

un de r Section 30 1 of th e Companies Act, 1956 .

(a)

The company has no t g ran ted o r taken any loans secured o r unsecured to

companies, f irms o r other p ar t ies cov er in the register m ainta ined und er

Sect ion 3 0 1 of the C ompanies Act, 1 95 6 dur ing the year .

(b)

In o ur opinion and according to the informat ion and given to us, the ra te of

interest, when ever appl icable and othe r te rms and condi t ions in respect of

loans given taken by the company are not pr ima fac ie pre judic ia l to the

interest of the company.

(c)

In respect of loans taken by the company, these a re repayable on dem and

and therefore t he quest ion of overdue amounts d oes not ar i se .

4 In our opinion and according to the informat ion and given t o us, there are

adequate internal cont rol procedures commensura te wi th the s ize of


25/39

5. (a)

On the basis of the audit procedure performed by us, and according to the

information and explanations given and representations given to us, we are

of the opinion that , there were no t ransact ions in which d irectors were

interested as con temp lated und er Section 297 a nd sub - section (6) of Section

299 of th e C ompanies Act, 1 95 6 and s o question of making entrie s in the

register m aintained und er Section 30 1 of the said Act, does not arise.

In o ur op inion and according to th e information an d explanations given to us,

ther e were no t ransact ions made in pursuance of contracts or arrangements

exceeding the value of rupe es five lacs du ring the year, so the question of

making entries in t he Register maintained u/s 301, do no t arise.

The compa ny has n ot accepted any depos it from public cover u/s 58A of the

Companies Act 1 95 6 read along with com panies (Acceptance of deposits)

rules 19 73 an d the directive issued by the R eserve Bank of India.

The Company has a n in ternal audi t sys tem comm ensurate wi th th e s ize and

natu re of i ts business.

The Central Government has not prescribed maintenance of cost records

und er section 209 (1) (d) of the Companies Act, 19 56 for any of the p roducts

of th e compan y.

According to the. information an d explanations given to us no dispu ted

am oun ts pa yable in re spe ct of Income Tax, Sales tax, Custom d uty and Excise

du ty were ou t s tand ing as a t

31st arch, 2012 except th e following:

The Company has acc umulated losses but incurred profit both a t the end of

the financial yea r a nd in th e immediately p receding year.

On the basis of the records examined by us and the information and

explanation given to us, the company has n ot defaulted in paym ent of dues to

financial institutions, banks o r deb entu re holders.

As examined to us, the Company has not granted any loans or adva nces on

the basis of security by way of pledge of shares, de ben ture s, or an y other

securities.

In our opinion, th e company is not a chit fund or a nidhi fund mutual

benef it fun d society. Therefore, clause 4(xiii) of th e Companies (Auditor s

Report o rde r 200 3 is not applicable.

In o ur opinion a nd acco rding to th e information an d explanation given to us,

the Company is not dea ling in or trading is respec t of shares, securit ies

debentures and other investments. According to the provision of clause 4

(xiv) of the com panies (Auditor Report) or de r 200 3 are no t applicable to the

company.

According to the information and explanation given to us, and the

representat ions ma de by the management , the Company has n ot g iven any

gua ran tee for loans taken by othe rs from any bank o r financial insti tution.

The company has no t ra ised any term loan during the year und er review.


26/39

17.

According to the informat ion and explanat ion given to us and on overa l l

examination of the financial statements of the company and after placing

re l iance on the reasonable assumpt ion made by the company for

classification of long ter m a nd s ho rt ter m usage s of funds, w e a re of th e

opinion tha t , prima-facie , long term funds have not been ut il ized for sh or t

t e rm purposes .

18

The companies have made preferential al lotment of 3,00,00,000 shares of

par t ies and co mpanies covered in the register mainta ined u/s 30 1 of the

Companies Act, 1956 .

19. The Company has not i ssued any debentures.

20.

The Com pany has n ot i ssued an y money by w ay of publ ic i ssue, dur ing the

21. According to t he ihformation a nd explanat ion given to us, an d to th e be st of

ou r knowledge an d benef i t, no f raud on o r by the Company, has b een not iced

or by th e company, du r ing the year tha t c lauses the f inancia l s ta tem ents to b e

material ly misstated.

For A shit T. Macwan

_ .

.


Place: Ahmed abad

Date : 01/09/2012

Mem No. 107891


27/39

Si~nificantAccountin? Policies

Basis of Preparation of Financial Statements

Th e Financial Statem ents of th e Company have been p rep ared in accordance

w ith Gen erally Accepted Accounting Principles in India Indian GAAP). Th e

Company has prepared theses Financial Statement to comply in al l material

aspe cts wit h the notified Accounting Sta nd ard s by Companies Accounting

Standards) Rules; 20 06 as amended) an d the re levant provisions of the

Companies Act, 195 6.

The Company follows mercanti le system of accounting, unless stated

otherwise.

The Accounts are prepared on the his tor ica l basis and on the Account ing

Principles of on Going Concern.

Accounting Policies no t specifical ly referred t o oth erw ise ar e consistent and

in consonance with generally accepted Accounting Principles. In applying

Accounting Policies, considerat ion has been given to Prudence, Substance

over form a n d Material i ty.

Expenses and Income considered payable and receivable respect ive ly are

generally acco unted for o n Accrual Basis.

Change in Accounting Policy

Presenta t ion and Disc losure of the Financia l Sta tements dur ing the year

end ed o n 31St March, 2012 t he revised Schedule VI notified u nd er th e

Companies Act, 1 9 56 has become applicable to th e Company, for prepara t ion

and presentat ion of i ts Financial Statements. The adoption of revised

Schedule VI does not impact recognit ion and measurement principles

followed for pr epa rat io n of Financial Statements. How ever i t has significant

impact on presenta t ion and disc losures mad e in the f inancia l s ta tements . The

compan y has a lso reclassi fied the previous ye ar f igures in accordance wi th

the req ui rem ents appl icable in the curren t year .

Use of Estimates

The prepara t ion of Financial Sta temen ts requi res es t imates an d assum pt ions

to b e made tha t a ffect the re por ted amo unt of asse ts and l iabil it ies as on the

date of the f inancia l s ta tements and the repor ted amount of revenues and

expenses d ur ing the repor t ing per iod. Difference betw een the ac tual resul t

and es t imates ar e recognizes in the per iod in which the resul t s a re known

material ized.

Fixed Assets Method of Depreciation Amortization and Impairment

Th e Gross Block of Assets is sho wn at th e Cost, which includes taxes, duties

and oth er ident if iable , d i rec t expenses w hich a re a t t r ibutable to acquisit ion

of fixed asse ts an d oth er di rec t expenses and ov erhea ds incurred up to da te

on which such ass e ts we re f i rs t put to use less accumulated deprecia t ion a nd

impa irmen t loss .


28/39

b)

Expenditure incurred during Construction / Erection period is included

under Capital Work-in-Progress and allocated to the respective Fixed Assets

on Com pletion of Construction / Erection.

c)

Depreciation has bee n provided in the books on WDV me thod basis a t th e

rat e a nd th e method as specified under schedule XIV to t he Companies Act,

1956

d)

The com pany evalua tes impairmen t of losses on the Fixed Assets whe never

even ts or changes in circumstances indicate that th eir carrying amou nts may

not be recoverable. If such assets are considered to be impaired, the

impairment loss is then recognized for the amount by which the carrying

am ount of the a ssets exceeds recoverable a moun t, which is the higher of an

assets net selling price and value in use.

6)

Employee Benefits

Contribution to the Provident Fund, Pension Fund, Other Funds and Leave

encashm ent paid during the year are being charged to Profit Loss Account.

7) Investments

Long Term Investments are stated at Cost. Provision for diminution in the

value of Long Term Investments is made only if such a decline is oth er than

tem porary in the opinion of the Management.

8)

Accounting for Taxes on Income

Income Tax e xpenses comp rises of Current Tax ,,Defe rred Tax Charge or

Credit. Provision for Current Tax is made with reference to Taxable Income

Computed for the A ccounting period, for which the Financial Statem ents ar e

prepa red and applying the tax rates a s applicable.

9)

Provision, Contingent Liabilities and Contingent Assets

Provisions involving substantial degree of estimation in measurement are

recognized when the re is a present obligation as result of pas t events and it

is probable th at th ere will be an outflow of resources.

10) Revenue Recognition

a)

Revenue recognized w hen it is earn ed an d no significant uncertainty exists as

to its realization or collection and is recorded on gross value including

CENVAT and VAT.

b)

Reve nue from Jo b w ork income is recognized on ,delivery of the p roducts,

wh en all significant contractua l obligations have be en satisfied.

c)

Other incom e is accounted on accrual basis.

11) Earnings per Share


29/39

Basic Earnings pe r s ha re a re calculated, by dividing th e n et profit o r loss for

the yea r at t r ibutable to equi ty shareholders by the weighted average numb er

of equity shares outstanding during the year. Diluted Earnings per share

reflect the potential dilution that could occur if contracts to issue equity

shares w ere exercised o r conver ted dur ing th e per iod. Diluted earnings per

equi ty share are computed using the weighted average number of equi ty

shares and dilutive potential equity shares outstanding during the period,

except whe re th e results are anti-dilutive.

Segment Information

The co mpany is' primarily engaged in a single segm ent business of

providing In forma tion Technology related services..

Leases

Land subje ct to ope ratin g leases is included un de r Fixed Assets. Rent (Lease)

paym ent is recognized in the profit loss account on a paym ent basis over

the lease term.

CENV T Treatment

(a)

Revenue from operations and Cost of Materials Consumed are inclusive of

Excise Duty Levied. Th e excise dut y paid ne t of CENVAT claim ed is acc oun ted

separately.

(b)

Unutilized balan ce of CENVAT claimable a t the ye are nd h as b een acco unted

and disclosed separately under the head Short Term Loans an d Advances

and the CENVAT 'component at the yearend inventories has been adjusted

accordingly.


30/39


[Form erly kno wn as AKL Soft Infosys (India) Limited)

Balance Sheet as at 31st March. 2012

I Note 2011-2012 2010-2011

N O N CURRENT LIABILITIES I -

I.

EQUITY and LIABILITIES

Shareholders' Funds

(a) Sha re Capital

(b) Reserves an d Surplus

2

(a) Long Term B orrowings .

b)

Othe r Long Te rm Liabilities

urre nt Liabilities

[b) Tra de Payables

Icl Other Cur rent Liabilities

TOTAL- I

11 ASSETS

3

.

Non C urre nt Assets

0

0

(d) Sho rt Term Provisions

Ial Fixed Assets

0

109,853

10,500

0

0

0

63,000 0

(i) Tangible Assets 4

(ii) Capital wor k in pr ogre ss

(b) Non Current Investmen ts

fcl Long Term Loans Advances

0

109,853

0

I

.

..

[d) Other Non Curre nt Assets

6

i j Short Te rm ~ o a n s Advances

TOTAL- 11

For Ashit T. Macwan

.. For SMS TECHSOFT (INDIA) LIMITED

Char tered ~c co un ta&, , . .

:>

Formerly known as

AKL

Soft Infosys (India)

.

...

:,

.

.

. .

. . .

. . . . . .

. ,

.

. . ,

,

\

. .

. . ?

, . ~.:..

.

(Ashit T. Macwan)

... .. .+..

.

..'

'.>

'

,

.

Proprie tor (Mem. NO:

1078hf

Place- Ahm edabad

Date: 1/9/2012

Director Director

Place: Coimbatore

Date: 1/9/2012


31/39


Formerly known as

AKL

Soft Infosys India) Limited

Satement of Profit Loss Account for the year ended on 31st March, 2012

Note 2011-2012 2010-2011

EXPENSES

a) Cost of MateriaIs consumed

b) Purchase of Stock in Trade

c) Change in inventory of finished goods, stock in

trade and work in progress

d)

Employee Benefit Expenses

e) Other Expenses

Finance Cost

depriciation and amortisation

TOT L EXPENSES

Profit before Exceptional Items and ~xtraordinary

0

0

0

Items and Tax VI-VII)

Exceptional Items

Profit before Extraordinary Items Tax VIII-IX)

Extraordinary Items

Profit before Tax X-XI)

l 2)

Diluted

0 0

0

0

0

9

4

Tax Expenses

1)

Current Tax

2)

Deferred Tax

Profit for the period XII-XIII)

Earning per Equity Shares

I)

Basic

For

Ashit T. Macwan

For

SMS TECHSOFT

(INDIA) LIMITED

Chartered Accountahts

[Form erly kn ow n as AKL Soft Infosys

(India) Limited]

Ashit T. ~a c w a n ) .

a

y

5

l l

Proprietor Director Director

Mem. No.

107891

0

194,148

0

194,148

Place

:

Ahmedabad

Date

1/9/2012

3,747,931

1,250,007

0

1,952,919

6,950,857

194,148

0

499,773

0

499,773

61,650

10,500

121,998

0

PIace Coimbatore

Date

:

1/9/2012

3,891,779

2,161,912

0

448,416

6,502,107

499,773

0

0

499,773

0


32/39

SMS TECHSOFT (INDIA] LIMITED

Formerly known as KL Soft Infosys (India) Limited

Particulars 2011-2012 2010-2011

I

NOTE

1.1 Share Capital

(Rs-3 (Rs-)

Authorised Share Capital

3,55,00,000 equity shares of Rs. 101- each

Authorised Share Capital increased w.e.f. 14th February,

2012

3,00,00,000 Shares allotted on 13th March, 2012 on

preferential basis at its face value of Rs. 101- fully paid

Issued, Subscribed paid up Share Capita1

3,50,57,200 equity shares of Rs. 101- each fully paid up

NOTE

-1.2

Reconciliation of Share Capital

Particulars

355,000,000

Opening balance

Add: Addition during the year

Closing Balance

55,000,000

350,572,000

2011-12

Equity Shares of

Rs. 101- each

5,057,200

30,000,000

35.057.200

50,572,000

Rs. 101- each

NOTE 1.4

SharehoIders hoIding more than 5 of

shares 2011-12 2010-11

N L

0 0

NO I E

1 3

Shares in the Company held by other Com3any

NOTE 1.5 Aggregate no. of shares for the last five years

Particulars

N L

0 0

Equity Shares of

Rs. 101- each

Equity Shares of

Rs. 101- each


33/39

NOTE 1.6 Amount of Un~aid alls bv

Particulars

I

2011-121 2010-111

Directors I 0

I

Officers

I

0

0 I

NOTE

1.7

Terms/ rights attached to issued equity shares:

During the year Company has issued 3 00 00 000 equity sha res by way of preferential

allotmen t at its face valu e of Rs. 101- pe r sh ar e fully paid. Newly issued s ha re s shall rank pari-

passu w ith existing sh are s of the Company. And th ese s har es a re su bjected to lock-in period as

follows:

Date upto which non tra nsferable

No. of

Shares Disti.

Nos

12 / 3 / 2015

1 2 / 3 / 2 0 1 3

NOT

-2

Reserves Surplus

Capital Reserve

Capital Redem ption Reserve

Security Premium Reserve

Debenture Redemption Reserve

Revaluation R eserve

Sha re Options Outstan ding Account

Other Reserve

Surplus: Balance as pe r last balance sh ee t

Preliminary Expense

Public Issue Expen se

Add: Profit for the yea r

TOTAL RS.

NOTE

3

Other Long Term Liabilities

Sundry C reditors

NOTE

1.8

The Com pany has only o ne class of equity sha res a t par value of Rs. 101- per share.

Each holder of Equity sha res is entit les to one vote per share.

In the event of l iquidation the holders of equity shares will be en tit led to receive remaining

asse ts of the Company after d istribution of all preferential am oun ts. The distribution will be in

proport ion to the num ber of Equi ty shares held by the sh are holders.

1746590

28 253 410

2 0 1 1 - 2 0 1 2

0

0

0

0

0

0

0

-7 005 683

0

0

121 998

-6 883 685

5057201

6803790

6803791

35057200

2 0 1 0 - 2 0 1 1

0

0

0

0

0

0

0

-6 962 215

-74 137

-469 104

499 773

-7 005 683

2 0 1 1 - 2 0 1 2

109 853

2 0 1 0 - 2 0 1 1

109 853


34/39

2010 2011

8 209 536

8 946 000

189 512

17 345 048

NOTE Long Term Loans Advances

Unsecured and considered doubtful

Advance recoverable in cash o r kind o r for the value to be

received

Advance tow ards capital items

Sund ry Deposits

TOTAL RS.

NOTE 6 Other Non Curret Assets

Unsecured and considered doubtful

more than 6 months

Others

TOTAL RS.

NOTE

1.5

2011 2012

8 209 536

8 946 000

189 5 12

17 345 048

NOTE

7

Cash Cash Equivalents

Cash Balance

Bank Balance

TOTAL RS.

2011 2012

2 389 416

0

2 389 416

2010 2011

2 389 416

0

2 389 416

2011 2012

2 956 713

1 105 000

4 061 713

2010 2011

1 773 394

139 902

1 913 296


35/39

SCHEDULE 4 FIXED ASSETS

P RTICU L TS

GROSS BLOCK

Land

Building

Plant Machinery

Cost as on

01/04/2011

DEPRICI TION NET BLOCK

dditio ns Disposal Upto

1 321 604

10 000 000

7 600 000

s on

31/03/2012

Total

31/03/2012

301 321 604

8 960 550

3 922 774

s on

31/03/2011

For th e Year

1 321 604

9 432 158

4 556 596

300 000 000

0

0

Total as on

31/03/2012

0

0

0

0

567 842

3 043 404

301 321 604

10 000 000

7 600 000

0

471 608

633 822

0

1 039 450

3 677 226


36/39


Formerly known asAKL Soft Infosys India) Limited

particulars

NOTE

8

Revenue from Operation

Project Income

Other Income

TOTAL Rs

Business Promotion E xpense

31 03 2012

5 592 185

402 820

5 995 005

76 994 112 535

31 03 2011

TOTAL

Rs

6 516 527

222 820

6 739 347

1 250 0071 2 161 912


37/39


Formerly known as AKL Soft Infosys India ) Limited

CASH FLOW STATEMENT FOR THE YEAR ENDED

ON 31

MARCH,

2012

Amount in Rs.

PARTICULARS 31/03/2012 31/03/20111

CASH FLOW FROM OPERATING ACTIVITIES

Net Profit before Tax

Adjustment for

a) depriciation

b) Financial Inte rest cha rges

Operating profit before working capital changes

Adjustment for chan ges

in

working capital

c) sundry creditors

d) sundry debtors

e) loan advances and cu rrent assets

Cash generated from operations

f ) taxes paid

Cash

flow from

operating activities -A

15013726

2495538

5160486

Net increase/decrease in cash cash equivalents

A+B+C)

Cash Cash equivalents as at

31/03/2011

Cash Cash equivalents as at

31/03/2012

CASH FLOW FROM INVESTING ACTIVITIES

[g) purch ase on fixed ass ets

[h) capital work in pro gress

Net Cash used in investing activities

B

300000000

0

300000000

22669750

1261580

-1261580

CASH FLOW FROM F1NANC.E ACTIVITIES

i) increase in capital

(j) Financial Inte rest Charges

Net Cash Flow from Financing Activities -C

2139267

1913296

4052563

300000000

1036319

298963681

2045888

1867408

1913296


38/39

11)

The figures for the previous year have been rearranged and regrouped

wherever necessary so as to confirm to the current year classification

As per attached report on even date

For Ashit T Macwan


Mem No 107891

Place Ahmedabad

Date 01/09/2012


39/39

SMS TECHSOFT INDIA)

LIMITED

Formerly known as

KL Soft

Infosys (India) Limited

Registered ffice

325, Pate1 Road, Ramnagar, C oimbatore-641009, Tam ilnadu

Annual G enekal Meeting to be held on 28th Septem ber, 2 012

Reg. Fo lio No.

I/We

of in th e dis tri ct of

Being a mem ber/m emb ers of the above named Company hereby appoint

of in th e distr ict of

or failing him of in the district of as

my /our proxy to vote me / us on my/ ou r behalf a t the Annual General Meeting of

the Com pany to b e held a t 1 0.00 AM on 28 th Septe mb er, 20 12 a t 325, Pate1 Road,

Ramnagar, Coimbatore-641009, Tamilnadu.

Signed this da y of 2012.

Signatu re Re. Revenue Sta mp

Note: Th isf orm in order to be effective should be duly stampe d completed and signed and mus t be

deposited at the Registered f ice of the Company not less than 8 hours before the meeting.


Formerly known as AKL Soft Infosys (India) Limited

Registered ffice

325, Pate1 Road, R amnagar, C oimbatore-641009, Tamilnadu

TTEND NCE

SLIP

Annual General M eeting to be held on 28th Sep tem ber , 201 2

Regd. Fo lio No.

I certi fy that I am t he regis tered/proxy for the shareholder of the Company.

I hereby r ecord my pres ence a t the Annual General Meeting of th e Company at 10.00

AM on 28th Septem ber, 2 012 a t 325, Patel Road, Ramnagar, Co imba tore-64 1009 ,

Tamilnadu.

M em ber s/Prox y na m e in BLOCK Letters

smstechsoft (i) ltd annual report 2011-12

Documents