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Tera Software Ltd.

BSE: 533982 | NSE: TERASOFT |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE482B01010 | SECTOR: Computers - Software Medium & Small

BSE Live

Apr 09, 16:00
14.80 1.21 (8.90%)
Volume
AVERAGE VOLUME
5-Day
1,323
10-Day
1,434
30-Day
2,619
909
  • Prev. Close

    13.59

  • Open Price

    14.24

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

NSE Live

Apr 09, 15:46
14.65 0.75 (5.40%)
Volume
AVERAGE VOLUME
5-Day
17,551
10-Day
14,069
30-Day
12,504
15,280
  • Prev. Close

    13.90

  • Open Price

    14.20

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
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Director’s Report

The Directors have pleasure in presenting the Thirteenth Annual Report and the audited accounts of the company for the year ended 31 st March 2007 together with Auditors report thereon. a) Operational Results: (Rs. In Lakhs) PARTICULARS Year Ended 31.03.2007 Year Ended 31.03.2006 Gross Income 5833.57 3529.69 Expenditure 3557.03 2155.77 Profit before interest, deprecation & tax 2276.54 1373.92 Less: Interest (Financial Cost) 169.91 83.50 Profit before depreciation & tax 2106.63 1290.42 Less: Depreciation 450.09 368.20 Profit before tax 1656.54 922.22 Less : Provision for tax Current year 576.89 281.17 Deferred tax 5.59 24.96 Fringe Benefit tax 4.00 586.48 4.60 310.73 Profit after tax 1070.06 611.48 Add: Balance brought forward from Previous Year 248.78 345.98 Add/(Less): Excess provision of Taxation for Earlier years - 1.39 Add/(Less): Taxation for earlier years (1.38) 247.41 - 347.37 Profit available for distribution 1317.47 958.85 Less: Transferred to General Reserve 500.00 500.00 Proposed Dividend @ 20% (Previous Year 20%) 250.24 184.19 Tax on distributable profits 42.53 25.83 Tax on dividend for earlier Years - 0.01 Residual dividend earlier years - 792.77 0.04 710.07 Balance Carried to Balance Sheet 524.70 248.78 b) Financial Performance: The Company with its focused attention on e-Governance Projects could increase its turnover by 65% to 5833.57 lakhs and the profit before tax improved by 75% to 1656.54 lakhs compared to the previous year. The Company rewarded its mem- bers by issuing fully paid bonus shares in the ratio of 4 : 1 by capitalising the reserves as approved by the members. To strengthen the capital structure, the Company during the year, further issued 8,00,000 lakhs convertible warrants at a price of Rs. Ill- each on preferential basis in consonance with the members resolution dated 05.06.2006. c) Dividend: Your Directors are pleased to recommend a dividend of 20% absorbing a sum of Rs.292.77 Lakhs including the tax on distributable profits. d) Listing of Shares in Stock Exchanges: At present the Equity Shares of your company are traded under permitted Securities on the Bombay Stock Exchange Limited and listed on The Hyderabad Stock Exchange Limited and Bangalore Stock Exchange Limited. The listing fee was paid up to date. e) Overseas Office: The foreign branch in U.S.A. was closed during the year due to no significant business transactions in the international market. f) Fixed Deposits: The Company has not accepted fixed deposits during the year to which the provisions of Section 58Aof the Companies Act, 1956. There are no overdue amounts of deposits including the interest thereon as at the end of the year. g) Directors: In accordance with the provisions of the Companies Act, 1956, and the Articles of Association of the Company, Dr. T.H Chowdary, Director, Dr. T.V. Lakshmi, Director and Sri T. Bapaiah Chowdary, Director, will be retiring by rotation at this annual general meeting and being eligible offer themselves for reappointment. h) Auditors: M/s. NARVEN ASSOCIATES, Chartered Accountants retire at the ensuing Annual General Meeting, and are eligible for reappointment. They have furnished the requisite certificate to the effect that their reappointment, if effected, would be in accordance with section 224 (IB) of the Companies Act 1956. i) Particulars of Employees: Statement of particulars of employees pursuant to the provisions of section 217 (2 A) of the Companies Act, 1956. Name Designation Qualification Age (years) T.Gopichand V.C.&M.D. M.Tech 48 Date of Experience Gross Previous Employment Joining (Years) Remuneration Including Commission 01.09.1995 26 25,44,228 Senior Technical Officer, Electronics Corporation of India Limited j) Conservation of energy, technology absorption and foreign exchange earnings/out goings: The particulars as required U/S 217(1) (e) of the Companies Act, 1956, read with the Companies (Disclosure of particulars in the report of the Board of Directors) Rules 1988 are: 1. Conservation of energy: The Company is not an energy intensive unit. 2. Technology absorption, adaptation & innovation: The Company has not imported any technology. 3. Foreign Exchange Earnings and outgo: 1. Earnings in Foreign Currency (FOB): Particulars Current Year (Rs.) Previous Year (Rs.) Software Development / Services 53,61,492 1,27,10,000 Total 53,61,492 1,27,10,000 1. Expenditure in Foreign Currency (CIF): Particulars Current Year (Rs.) Previous Year (Rs.) Import of Raw Material Nil Nil Traveling Expenses Nil Nil Expenses incurred at Overseas branch Nil 1,31,565 Total Nil 1,31,565 k) Directors Responsibility Statement: Pursuant to the requirement under section 217(2 AA) of the Companies Act, 1956, with respect to Directors Responsibility Statement, it is hereby confirmed: a. That in the preparation of the accounts for the financial year ended 31st March, 2007 the applicable accounting standards have been followed along with proper explanation relating to material departures; b. That the directors have selected such accounting policies and applied them consistently and made adjustments and estimates that were 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 the year under review; c. That the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; d. That the directors have prepared the accounts for the financial year ended 31 st March, 2007 on a going concern basis. 1) Acknowledgment: Your directors thank the clients, vendors, investors and bankers for their continued support. Your directors place on record their appreciation of the contribution made by the employees at all levels. Your directors thank the Government of India, State Governments, Electronic Corporation of India Limited and Other Government Agencies for their support during the year and look forward to their patronized support. For and on behalf of the Board of Directors Sd/- Sd/- Date: 31.08.2007 (T. Gopi Chand) (N.V.V.Prasad) Place: Hyderabad. Vice Chairman and Managing Executive Director Director

Director’s Report