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BSE Code : | NSE Symbol : | ISIN:| SECTOR : |

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Volume 280564

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Key Stats

MARKET CAP (RS CR) 2.75
P/E 2.67
BOOK VALUE (RS) 12.3055775
DIV (%) 0
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EPS (TTM) 0.98
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4

News & Announcements

14-Feb-2021

Objectone Information Systems standalone net profit rises 1400.00% in the December 2020 quarter

14-Feb-2021

Objectone Information Systems consolidated net profit rises 980.00% in the December 2020 quarter

13-Feb-2021

Objectone Information Systems Ltd - Un-Audited Financial Results For The Quarter Ended 31.12.2020

02-Feb-2021

Objectone Information Systems to declare Quarterly Result

02-Feb-2021

Objectone Information Systems to declare Quarterly Result

09-Nov-2020

Objectone Information Systems announces board meeting date

16-Sep-2020

Objectone Information Systems reschedules board meeting date

10-Sep-2020

Objectone Information Systems to announce Quarterly Result

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Share Holding

Category No. of shares Percentage
Total Foreign 0 0.00
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 1780840 16.94
Total Public & others 8731060 83.06
Total 10511900 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Objectone Information Systems Ltd

Objectone Information Systems Ltd is a global I.T. solution provider with strong estallished presence in India and U.S. since, incorporated on 06 February 1996. The Company has been offering range of I.T. products and solutions to customers like banking, insurance, professional services, media, telecommunications, and healthcare etc. Web applications and I T enabled services have been one of its main focus areas. Its strong presence & core expertise in the web applications, portal development, content management system, search engine optimization, social media optimization, mobile app development and implementation enable it to identify world class products to address various industry sectors' needs. The company sold its 100% subsidiary, M/s. ObjectNet Technologies Inc, USA during the Q1 of 2015-16 and gained an amount of Rs 177.83 lac towards Capital Gain (Before Tax). The Company acquired a foreign Subsidiary Company namely M/s. Stiaos Technologies Inc. during the Q2 of FY 2015-16.In FY2015-16, the company launched a new service initiative - 'ToneFlix' During FY 2016-17, the Company procured major orders from Government of India for social media promotion of various government policies/ services related to their departments.

Objectone Information Systems Ltd Chairman Speech

To receive, consider, approve and adopt the audited Balance Sheet as at March 31st, 2015 and the Profit and Loss Account for the financial year ended on that date together with the schedules and notes thereon and the Directors and Auditors Report thereof.

To appoint a Director in the place of Smt. K. Himabindu(DIN No. ‘00497060) who retires by rotation and being eligible offers himself for re-appointment and for the said purpose to consider and if thought fit to pass the following resolution with or without modification(s) as an Ordinary Resolution.

“RESOLVED THAT Smt. K. Himabindu (DIN No’00497060), Executive Director of the Company, who retires by rotation be and is hereby re-appointed as Executive Director of the Company liable to retire by rotation.”

To ratify the appointment of Statutory Auditors of the Company, for the said purpose to consider and if thought fit, to pass the following resolution with or without modification(s) as an Ordinary Resolution.

“RESOLVED THAT pursuant to the provisions of section 139 and other applicable provisions, if any, of the Companies Act, 2013 and the Companies (Audit and Auditors) Rules, 2014, as amended from time to time, M/s. P. Murali & Co., Chartered Accountants, Hyderabad appointment as Statutory auditors of the company from the conclusion of this Annual General Meeting until conclusion the Twentieth Annual General Meeting, be and is hereby ratified and their remuneration to be fixed by the Board of Directors on mutually agreed terms and conditions.”

SPECIAL BUSINESS: NIL For and on behalf of the Board
ObjectOne Information Systems Limited
Sd/-
K Ravi Shankar
Managing Director
Place: Hyderabad
Date: 12-08-2015

   

Objectone Information Systems Ltd Company History

Objectone Information Systems Ltd is a global I.T. solution provider with strong estallished presence in India and U.S. since, incorporated on 06 February 1996. The Company has been offering range of I.T. products and solutions to customers like banking, insurance, professional services, media, telecommunications, and healthcare etc. Web applications and I T enabled services have been one of its main focus areas. Its strong presence & core expertise in the web applications, portal development, content management system, search engine optimization, social media optimization, mobile app development and implementation enable it to identify world class products to address various industry sectors' needs. The company sold its 100% subsidiary, M/s. ObjectNet Technologies Inc, USA during the Q1 of 2015-16 and gained an amount of Rs 177.83 lac towards Capital Gain (Before Tax). The Company acquired a foreign Subsidiary Company namely M/s. Stiaos Technologies Inc. during the Q2 of FY 2015-16.In FY2015-16, the company launched a new service initiative - 'ToneFlix' During FY 2016-17, the Company procured major orders from Government of India for social media promotion of various government policies/ services related to their departments.

Objectone Information Systems Ltd Directors Reports

Dear Members,

Your Directors have pleasure in presenting the 23rd Annual Report on the operations of ObjectOne Iformation Systems Limited together with the audited financial statements for the year ended March 31, 2019. The financial results of the Company are as follows:

1 Financial Results

Particula rs

Consolidated

Standalone

2018-19 2017-18 2018-19 2017-18
Total Inco me 2639.04 2337.68 693.65 527.00
Operating profit (PBDIT) 96.19 (166.84) 88.32 (177.87)
Depreciation 25.13 28.80 24.89 28.58
Profit before tax (PBT) 46.02 (222.48) 38.55 (233.03)
Income Tax and Deferred Tax (1.30) 3.00 (2.42) 3.00
Profit after tax (PAT) 47.32 (225.48) 40.97 (236.03)

2 STATE OF AFFAIRS OF COMPANY.

CONSOLIDATED

The Consolidated income of Rs. 2639.04 lakhs during the year against previous year income of Rs. 2337.68 lakhs and Net profit of Rs.47.32 lakhs during the year against previous year Net loss of Rs. 225.48 lakhs STANDALONE

The Standalone income of Rs. 693.65 lakhs during the year against previous year income of Rs. 527.00 lakhs and Net Profit of Rs. 40.97 lakhs during the year against previous year Net Loss of Rs. 236.03 lakhs.

BUSINESS OVERVIEW:

During the year under review, your company has seen fluctuating business trends, our project in mygov has been completed but the payment process has not been completed due to Bureaucratic problems . We have initiated measures approaching the necessary forum for redressal of our payment issue and we are confident of resolving the issue in the following months.

Youtube channel profitability has not been to the expectation as the content creation and acquisition costs have soared high because of big players entry into OTT markets increasing the competition and costs .

Your Company has succeeded in getting social media monitoring works from Election Commission and covered general elections of both Telangana and Andhra Pradesh states. we look forward to establish ourselves in this line of business.

On social media front, we have got new breakthrough by getting UP Government work and trying to expand to other State Governments.

During the current year, apart from aggressively expanding Social Media application and services your Company is adding sales force by appointing experienced marketing executives in various cities for getting advertisers for our various properties on Internet which will help in increasing the revenue.

3 Share Capital

The paid up equity share capital as on 31 March 2019 was Rs.10,51,19,000 comprising of 1,05,11,900 (One Crore Five Lakh Eleven Thousand Nine Hundred) equity shares of Rs.10/- each.

4 Material Changes and Commitments If any affecting the financial position of the company which have occured between the end of the financial year of the company to which the financial statements relate and the date of the report

There are no material changes and commitments affecting the financial position of the Company.

5 Transfer To Reserves

The company had transferred an amount of Rs. 40.97 Lakhs to the General Reserve during the financial year 2018-19.

6 Dividend

The Board of directors has not proposed / declared any dividend for the year ended 31.03.2019.

7 Particulars of Loans, Guarantees or Investments

The company has not given any loans or guarantees covered under the provisions of section 186 of the Companies Act, 2013 (Act). The details of the investments made by the company are given in the notes to the financial statements.

8 Internal Financial Control Systems and their adequacy

The Company has adequate system of internal controls to safeguard and protect from loss, unauthorised use or disposition of its assets. All the transactions are properly authorised, recorded and reported to the Management. The Company is following all the applicable Accounting Standards for proper maintenance of books of accounts and for financial reporting.

9 Related Party Transactions

All the transactions with related parties are at arm's length and they fall outside the scope of Section 188(1) of the Act. Information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with rule 8(2) of the Companies (Accounts) Rules, 2014 is given in Annexure-1 in Form AOC-2 and the same forms part of this report.

10 Deposits

Your Company has not accepted any deposits and as such, no amount of principal or interest was outstanding as of the Balance Sheet date.

11 Change in The Nature Of Business, If Any

There is no material change in the nature of business affecting the financial position of the Company for the year ended March 31,2019.

12 Joint Venture

Information on Joint Venture pursuant to Section 129(3) of the Act read with rule 5 of the Companies (Accounts) Rules, 2014 is not applicable to the Company as the Company has not entered any Joint Venture contracts. Hence Form AOC-1 is not applicable.

13 Subsidiary Company

M/s. Stiaos Technologies Inc., is 100% wholly owned subsidiary and the details are as follows:-

Form No. AOC - 1

(Pursuant to the first provision to sub-section 3 of Section 129, read with Rule 5 of Companies (Accounts) Rules, 2014); Salient Features of Financial Statements of Subsidiary/associate companies/joint ventures as per Companies Act, 2013

Part A : Subsidiaries

Amount in Rs. Lakhs

1. Name of Subsidiary Stiaos Technologies Inc. USA
Reporting period for the subsidiary concerned, if different from the holding company's reporting period Accounting year of the Subsidiary Company - Calendar Year, Following data related to FY 2018-19
Reporting currency and Exchange rate as on the last 3. date of the relevant Financial year in the case of foreign subsidiaries USD @ Rs.65/-
4. Share Capital 0.66
5. Reserves & Surp lus 148.77
6. Total Assets 1098.95
7. Total Liabilities 1098.95
8. Investments 0.00
9. Turnover 1945.39
10. Profit Before Taxation 7.48
11. Provision fo r Taxation 1.12
12. Profit after Taxation 6.36
13. Proposed Dividend 0
14. % of Shareholding 100

Pursuant to the provisions of Section 136 of the Act, the financial statements including consolidated financial statements are being made available on the website of the Company www.objectinfo.com The financial statements of subsidiary companies will be available for inspection during business hours at the registered office of the Company and also on the website of the Company.

14 Directors and Key Managerial Personnel

In accordance with the provisions of Section 152(6) of the Companies Act, 2013 Mrs. Himabindu Kantamneni retires by rotation at the forthcoming Annual General Meeting and being eligible offered herself for re-appointment. Your Board recommends her appointment as Executive director, liable to retire by rotation.

During the year Ms. Ramya Inala has been appointed as the Company Secretary and Compliance officer of the Company on 15th March, 2019.

Pursuant to the provisions of Clause 49 of the Listing Agreement, brief particulars of the directors who are proposed to be appointed/re-appointed are provided as an annexure to the notice convening the Annual General Meeting.

15 Statement on the Declaration Given By The Independent Directors As Per Section 149(6)

The company has received necessary declaration from each independent director under Section 149(7) of the Companies Act, 2013, that he /she meets the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

16 Policy on Directors' Appointment and Remuneration and Other Details

The Board has, on the recommendation of the Nomination & Remuneration Committee, framed a policy for selection and appointment of Directors, Senior Management and fixing their remuneration pursuant to the provisions of Section 178 of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

17 Number of Meetings of the Board

During the Financial Year 2018-19, five meetings of the Board of Directors of the company were held and the dates of the Meetings are as follows:

30th May, 2018; 14th August 2018; 14th November 2018; 13th February, 2019 and 15th March, 2019.

18 Board Evaluation

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board carried out an annual performance evaluation of its own performance, the directors as well as the evaluation of the working of its Audit, Nomination and Remuneration and Stakeholders' Relationship Committees. Independent Directors carried out a separate evaluation on the performance of Chairman and non Independent directors. In a separate meeting of independent directors, performance of non-independent directors, performance of the Board as a whole, performance of the Chairman and quality, quantity and timeliness of flow of information between the Company management and the Board was evaluated.

19 Report on corporate governance and management discussion and analysis report

Pursuant to SEBI (LODR) Regulations, 2015 (hereinafter referred to as "Listing Regulations"), a detailed report on Corporate Governance is given in this Annual Report. A certificate from the Statutory Auditors of the Company regarding compliance with conditions of Corporate Governance is attached to the Corporate Governance report.

a) Audit Committee:

The Audit Committee of the Company constituted in terms of Section 177(1) of the Act and as per SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The Audit Committee comprises of Ms. E. Kavitha as Chairman and Mr. B.S.N.Kumar and V. Jayaprakash Narayana as the members of the Audit Committee. The Audit Committee continues to provide valuable advice and guidance in the areas of costing, finance and internal controls.

During the year under review, the Committee met four times on 30th May, 2018; 14th August 2018; 14th November 2018; 13th February, 2019.

b) Nomination and Remuneration Committee

In terms of the provisions of Section 178(3) of the Act and Regulation 19 read with Schedule II Part D of Listing Regulations, the Nomination and Remuneration Committee is responsible for formulating the criteria for determining qualifications, positive attributes and independence of a Director. The Nomination and Remuneration Committee comprises of Mr. V. Jayaprakash Narayana as Chairman and Mr. B.S.N.Kumar and Ms. E. Kavitha are the members of the NRC.

During the year under review, the Committee met on 30th May, 2018

c) Stakeholders Relationship Committee:

A Committee of the Board, designated as stakeholders relationship committee to specifically look into the redressal of Shareholder/investor complaints and to strengthen investors relations. The Stakeholders Relationship Committee is reconstituted with Mr. V. Jaya Prakash Narayana as the Chairman, Mr. K. Ravi Shankar and Mrs. K. Hima Bindu as the members of the SRC. The composition of the Committee is as per the requirements of the provisions of Section 178 of the Companies Act, 2013 and the SEBI (Listing Obligation and Disclosure Requirements) regulations.

During the year under review, the Committee met four times on 30th May, 2018; 14th August 2018; 14th November 2018; and 13th February, 2019

20 Auditors

Statutory Auditors

At the Annual General Meeting (AGM) held on September, 29, 2017, M/s. PCN & Associates (formerly known as Chandrababu Naidu & Co)., Chartered Accountants, Hyderabad were appointed as Statutory Auditors of the company to hold office till conclusion of the AGM to be held in the calendar year 2022. In terms of the first proviso to Section 139 of the Companies Act, 2013

There were no qualifications, reservation or adverse remark in the Audit Report for the Financial Year ended 31st March, 2019.

Secretarial Audit

Mr. S Chidambaram, Company Secretary in Practice, Hyderabad, was appointed to undertake the Secretarial Audit of the Company for the Financial Year 2018-19. The Secretarial Audit Report is given in Annexure- II.

Explanation/ comments by the Board on Qualifications, Reservations, Adverse Remarks or Disclaimers made by the Statutory Auditors & the Practicing Company Secretary in their Reports:

The Notes on financial statements referred to in the Auditors' Report are self-explanatory and do not call for any further comments. The Auditors' Report does not contain any qualification, reservation or adverse remark.

21 Directors' Responsibility Statement

In terms of Section 134(5) of the Companies Act 2013, your Directors would like to state that:

a. In the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b. The Directors have 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 ended March 31,2019 and the profit of the Company for that financial year;

c. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. The Directors have prepared the Annual Accounts on a going concern basis.

e. The directors had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and operating effectively.

f. The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

22 Conservation Of Energy, Technology Absorption, Foreign Exchange Earnings and Outgo

Conservation of Energy:

The nature of the Company's operations requires a low level of energy consumption. Research and Development (R&D):

The Company continues to look at opportunities in the areas of research and development in its present range of activities.

Technology Absorption:

The Company continues to use the latest technologies for improving the productivity and quality of its services and products. The Company has not imported any technology during the year.

Foreign Exchange Earnings and Outgo:

S.No. Purpose of 2018-19 Amount in Rs 2017-18 Amount in Rs
1 Inflow - against IT, IT enabled Services and other income Rs.3,53,24,333/- Rs.2,44,27,500/-
2 Inflow - Advance against cancellation of Share Purchase Agreement - Stiaos Technologies Inc. Foreign Subsidiary Rs. 34,12,261/- Rs. 62,82,179/-
3 Outflow - For Expenses - Paid through Credit Card Rs. 4,54,210/- Rs. 3,00,158/-

23 Particulars of Employees

(a) The information required under section 197 of the Companies Act, 2013 read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given in Annexure-3. b) Pursuant to Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, during the year under review, none of the employees of the Company employed throughout the financial year, was in receipt of remuneration for the year which, in the aggregate, in excess of sixty lakh rupees; none of the employees of the Company employed for a part of the financial year, was in receipt of remuneration for any part of the year, at a rate which, in the aggregate, in excess of five lakh rupees per month;

None of the employees of the Company employed throughout the financial year or part thereof, was in receipt of remuneration in the year which, in the aggregate, or as the case may be, at a rate which, in the aggregate, is in excess of that drawn by the managing director or whole-time director or manager and holds by himself or along with his spouse and dependent children, not less than two percent of the equity shares of the company.

24 Extract Of Annual Return

As required under Section 92(3) read with section 134 of the Companies Act, 2013, the annual return is placed at the Company web site www.obiect.info.com.

25 Risk Management

Pursuant to section 134 (3) (n) of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has formulated a policy on risk management. At present the company has not identified any element of risk which may threaten the existence of the company.

26 Vigil Mechanism / Whistle Blower Policy

The Company has formulated a Whistle Blower Policy and has established a Vigil Mechanism for employees including Directors of the Company to report genuine concerns. The provisions of this policy are in line with the provisions of Section 177(9) of the Act and Regulation 22 of Listing Regulations. The whistle blower policy is available on the Company's website.

27 Corporate Social Responsibility (CSR)

The provisions relating to Corporate Social Responsibility under the Companies Act, 2013 do not apply to the company.

28 Disclosure under the Sexual Harassment of Women At Workplace (Prevention, Prohibition And Redressal) Act, 2013

The Company has in place a Policy on Prevention of Sexual Harassment in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013. Internal Complaints Committee (ICC) has been set up to redress complaints received regarding sexual harassment. All employees (permanent, contractual, temporary, trainees) are covered under this policy.

Your Directors further state that during the year under review, there were no cases filed pursuant to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

29 The details of significant and material orders passed by the regulators or courts or tribunals impacting the going concern status and company's operations in future

In terms of sub rule 5(vii) of Rule 8 of Companies (Accounts) Rules, 2014, there are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

30. Report on corporate governance and management discussion and analysis report

Pursuant to SEBI (LODR) Regulations, 2015 (hereinafter referred to as "Listing Regulations"), a detailed report on Corporate Governance is given in this Annual Report. A certificate from the Statutory Auditors of the Company regarding compliance with conditions of Corporate Governance is attached to the Corporate Governance report.

A Management Discussion and Analysis report in terms of Regulation 34 of Listing Regulations is provided in a separate section and forms an integral part of this Annual Report

31 Acknowledgments

Your Directors would like to place on record their grateful appreciation for the assistance and co-operation received from the Financial Institutions, Banks, Government of India, State Government, Government Authorities, Customers and Shareholders. Your Directors place on record their appreciation of the valuable contribution made by the employees at all levels.

FOR OBJECTONE INFORMATION SYSTEMS LIMITED

Sd/-
K. RAVI SHANKAR
(DIN 00272407)
Place : Hyderabad Managing Director
Date : 14.08.2019

   

Objectone Information Systems Ltd Company Background

K Ravi Shankar
Incorporation Year1996
Registered Office8-3-988/34/7/2/1 & 2 Kamalapur,Colony Srinagar Colony Road
Hyderabad,Telangana-500073
Telephone91-040-23757192/193,Managing Director
Fax91-040-23753323
Company SecretaryVikram Verma
AuditorP C N & Associates
Face Value10
Market Lot1
ListingBSE,
RegistrarAarthi Consultants Pvt Ltd
1-2-285 Domalguda, , ,Hyderabad - 500 029

Objectone Information Systems Ltd Company Management

Director NameDirector DesignationYear
K Ravi Shankar Managing Director 2019
B S N Kumar Independent Director 2019
K Himabindu Director 2019
Valluru Jaya Prakash Narayana Independent Director 2019
E Kavitha Independent Director 2019
Vikram Verma Company Secretary 2019

Objectone Information Systems Ltd Listing Information

Objectone Information Systems Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Services NA 0006.84317
Other Operating Revenue NA 0000
Sale of Products NA 0000
Software NA 0000

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