MARKET RADAR
SENSEX     NIFTY      Refresh
Moneycontrol.com India | Accounting Policy > Computers - Software > Accounting Policy followed by Infotech Enterprises - BSE: 532175, NSE: INFOTECENT
YOU ARE HERE > MONEYCONTROL > MARKETS > COMPUTERS - SOFTWARE > ACCOUNTING POLICY - Infotech Enterprises
Infotech Enterprises
BSE: 532175|NSE: INFOTECENT|ISIN: INE136B01020|SECTOR: Computers - Software
SET ALERT
|
ADD TO PORTFOLIO
|
WATCHLIST
LIVE
BSE
May 21, 17:00
166.40
-0.6 (-0.36%)
VOLUME 4,389
LIVE
NSE
May 21, 17:00
169.15
1.75 (1.05%)
VOLUME 8,674
« Mar 11
Accounting Policy Year : Mar '12
1.  Corporate Information
 
 (Refer to Note No. 1 of the annual standalone financial statements)
 
 The Company is engaged in providing global technology services and
 solutions specialising in geospatial, engineering design and IT
 solutions. Infotech Enterprises Limited (hereinafter referred to as
 ‘Infotech’) has its headquarters and development facilities in India
 and serves a global customer base through its subsidiaries in United
 States of America (USA), United Kingdom (UK), Germany, Japan and India.
 The Company’s range of services include digitisation of drawings and
 maps, photogrammetry, computer aided design/engineering (CAD/CAE),
 design and modelling, repair development engineering, reverse
 engineering application software development, software products
 development, consulting and implementation. Infotech specialises in
 software services and solutions for the manufacturing, utilities,
 telecommunications, transportation & logistics, local government and
 financial services markets.
 
 2.  Related Party Transactions
 
 (Refer to Note No. 33 of the annual standalone financial statements)
 
 List of related parties on which the Company is able to exercise
 control.
 
 a) Subsidiaries
 
 Name of the Subsidiary Companies
 
 Infotech Enterprises Europe Limited, UK. (IEEL)
 
 Infotech Enterprises Benelux BV, Netherlands - A subsidiary of IEEL
 
 Mapcentric Consulting Limited - A subsidiary of IEEL 
 
 Dataview Solutions Limited - A subsidiary of IEEL 
 
 Infotech Enterprises America Inc., USA(IEAI)
 
 Infotech Software Solutions Canada Inc., Canada - A subsidiary of IEAI
 
 Infotech Enterprises Electronic Design services Inc. - A subsidiary of
 
 IEAI Wellsco Inc., USA - A subsidiary of IEAI 
 
 Infotech Enterprises GmbH, Germany (IEG)
 
 Infotech Enterprises AB, Sweden - A subsidiary of IEG 
 
 Infotech Geospatial (India) Limited, India (Refer Note (i) below)
 
 Infotech Enterprises Japan KK, Japan
 
 Infotech Enterprises Information Technology Services Private Limited
 
 Notes:
 
 (i) Became wholly owned subsidiary from November 2, 2011
 
 (ii) TTM Institute of Information Technology Private Limited, India, a
 wholly owned subsidiary as at March 31, 2011 was merged with IEL w.e.f.
 April 01, 2011
 
 b) Associate
 
 Name of the Associate Company
 
 Infotech Aerospace Services Inc., Puerto Rico, USA
 
 c) Joint Venture
 
 Name of the Joint Venture Company
 
 Infotech HAL Limited, India
 
 4.  Quantitative details
 
 (Refer to Note No. 42 of the annual standalone financial statements)
 
 The Company is engaged in the development of Computer Software and
 Services. The production and sale of such software and services cannot
 be expressed in any generic unit. Hence, it is not possible to give the
 quantitative details of sales and the information as required under
 Paragraphs 3 and 4C of Part II of Schedule VI to the Companies Act,
 1956.
 
 5.  Segmental Information
 
 (Refer to Note No. 32 of the annual standalone financial statements)
 
 Segment information has been presented in the Consolidated Financial
 Statements as permitted by Accounting Standard (AS 17) on Segment
 Reporting as notified under the Companies (Accounting Standards) Rules,
 2006.
 
 6.  Stock Option Plans
 
 (Refer to Note No. 39 of the annual standalone financial statements)
 
 Infotech Employee Stock Offer Scheme 1999 (ESOP Plan)
 
 In 1998-99, the Company set up ESOP plan and allotted 80,900 equity
 shares of Rs. 10 each at a premium of Rs. 100 per share to the Infotech
 ESOP trust. The trust on recommendation of management and upon receipt
 of full consideration transfers the equity shares in the name of the
 selected employees. The Company modified the ESOP Plan and adjusted the
 number of options and exercise price on account of bonus issue and
 stock split cum bonus issue during 2002-03 and 2006-07 respectively.
 
 As this scheme is established prior to the SEBI Guidelines on the stock
 options, there is no cost relating to the grant of options under this
 scheme.
 
 Associate Stock Option Plans (ASOP Plan)
 
 The company currently has three ASOP plans - ASOP 2002, ASOP 2004 and
 ASOP 2008. Under each of these schemes, options will be issued to
 employees at an exercise price which shall not be less than the market
 price on the date of the grant.  These options vest over a period
 ranging from one to three years from the date of grant, starting with
 10% at the end of the first year, 15% at the end of one and half years,
 20% after two years, 25% at the end of two and half years and 30% at
 the end of the third year.
Source : Dion Global Solutions Limited
Quick Links for infotechenterprises
Explore Moneycontrol
Stocks     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | Others
Mutual Funds     A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.