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Capricorn Systems Global Solutions Ltd 512169
Cat Technologies Ltd 531682
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Ceinsys Tech Ltd 538734
Centerac Technologies Ltd 531621
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Cigniti Technologies Ltd 534758 CIGNITITEC
CLIO Infotech Ltd 530839
Coforge Ltd 532541 COFORGE
Commex Technology Ltd 532342
Compudyne Winfosystems Ltd 532306 COMPUDYNE
Compulink Systems Ltd(merged) 532688 COMSYS
Computech International Ltd 531224 COMPUTECH
Computer Power (India) Ltd 40658
Continental Chemicals Ltd 506935
Coral Hub Ltd 533011 CORAL-HUB
COSYN Ltd 538922
Covidh Technologies Ltd 534920
Cranes Software International Ltd 512093 CRANESSOFT
Crystal Software Solutions Ltd 526033
Cura Technologies Ltd 532332 CURATECH
Cyberscape Multimedia Ltd 532364
Cybertech Systems & Software Ltd 532173 CYBERTECH
Cyient Ltd 532175 CYIENT
Datamatics Global Services Ltd 532528 DATAMATICS
Datasoft Applications Software (India) Ltd 526443
Datum Technologys (India) Ltd 40626
Delaplex Ltd 92601 DELAPLEX
Dev Information Technology Ltd 543462 DEVIT
Dhanus Technologies Ltd 532903 DHANUS
Diamond Infosystems Ltd 530801
Dibba Infotech Ltd 538399
DigiSpice Technologies Ltd 517214 DIGISPICE
Dion Global Solutions Ltd 526927 FORTISFIN
Dot Com Global Ltd 530391 PERCIMDIAM
DRC Systems India Ltd 543268 DRCSYSTEMS
DSQ Software Ltd 523864 SQRDSFWARE
Dynacons Systems & Solutions Ltd 532365 DSSL
e.star Infotech Ltd 532417
E2E Networks Ltd 535080 E2E
eClerx Services Ltd 532927 ECLERX
Ed & Tech International Ltd 590038 VISUINTL
Edserv Softsystems Ltd 533055 EDSERV
Edvenswa Enterprises Ltd 517170
Eider Infotech Ltd 531958 EIDERTELE
Ekennis Software Service Ltd 543475
Emed.com Technologies Ltd 524588
eMudhra Ltd 543533 EMUDHRA
Eonour Technologies Ltd 532308
Equippp Social Impact Technologies Ltd 590057 EQUIPPP
ERP Soft Systems Ltd 530909
Esconet Technologies Ltd 92683 ESCONET
Essemm Information Systems Ltd 40661
Euphoria Infotech (India) Ltd 544094
European Software Alliances Ltd 530387 EUROSOFTAL
Exel Software Ltd 531759
Expleo Solutions Ltd 533121 EXPLEOSOL
Exquisite Exports Ltd 40682
FCS Software Solutions Ltd 532666 FCSSOFT
FI Sofex Ltd 40644
Fidel Softech Ltd 535450 FIDEL
Fintech Communication Ltd 531754
First Fintec Ltd 532379
Firstsource Solutions Ltd 532809 FSL
Flextronics Software Systems Ltd(merged) 532266 FSS
Fore C Software Ltd 40515
Fourth Generation Information Systems Ltd 532403
Frontlinesoft Ltd 40646
Funny Software Ltd 539169
Genesys International Corporation Ltd 506109 GENESYS
Geodesic Ltd 503699 GEODESIC
Geometric Ltd (Merged) 532312 GEOMETRIC
Globalspace Technologies Ltd 540654
Globesecure Technologies Ltd 535449 GSTL
Glodyne Technoserve Ltd 532672 GLODYNE
Gracious Software Ltd 780002
Groarc Industries India Ltd 532315
GSS Infotech Ltd 532951 GSS
G-Tech Info Training Ltd 532139
GVP Infotech Ltd 532600 GVPTECH
Happiest Minds Technologies Ltd 543227 HAPPSTMNDS
HCKK Ventures Ltd 539224
Healthfore Technologies Ltd 533525
Hexaware Technologies Ltd 532129 HEXAWARE
Hiliks Technologies Ltd 539697
Hinduja Global Solutions Ltd 532859 HGS
HOV Services Ltd 532761 HOVS
HRH Next Services Ltd 92234 HRHNEXT
Hypersoft Technologies Ltd 539724
I Power Solutions India Ltd 512405
ID Info Business Services Ltd 511260
IDream Film Infrastructure Company Ltd 504375
IGate Computer Systems Ltd(Merged) 532517 PATNI
IIS Infotech Ltd 40187
IKF Technologies Ltd 532414
Indus Networks Ltd 532381
Infibeam Avenues Ltd 539807 INFIBEAM
Infinite Computer Solutions India Ltd 533154 INFINITE
InfoBeans Technologies Ltd 543644 INFOBEAN
Info-Drive Software Ltd 530703 INFODRIVE
Informed Technologies India Ltd 504810
Infronics Systems Ltd 537985
Innovana Thinklabs Ltd 535036 INNOVANA
Innovation Software Exports Ltd 517433
Inspirisys Solutions Ltd 532774 INSPIRISYS
Integra Telecommunication & Software Ltd 536868
Integrated Data Systems Ltd 40277
Integrated Hitech Ltd 532303
Intellect Design Arena Ltd 538835 INTELLECT
Intellvisions Software Ltd (Merged) 531777
Intense Technologies Ltd 532326 INTENTECH
Intergrated Digital Info Services Ltd 523770
International Data Management Ltd 517044
Intertec Technologies Ltd 40620
Interworld Digital Ltd 532072
IOL Netcom Ltd 512185 IOLN
IQ Infotech Ltd 532421
IRIS Business Services Ltd 540735 IRIS
Irmac Services India Ltd 40648
IZMO Ltd 532341 IZMO
Jointeca Education Solutions Ltd 534659
Jonjua Overseas Ltd 542446
K2 Systems Ltd 40673
Kaashyap Technologies Ltd 532283
KALS Information Systems Ltd 40672
Kandarp Digi Smart BPO Ltd 535480 KANDARP
Kashyap Tele-Medicines Ltd 531960
KCC Software Ltd 40688
Kedia Infotech Ltd 531976
Kellton Tech Solutions Ltd 519602 KELLTONTEC
Kireeti Soft Technologies Ltd 40629
Kirloskar Multimedia Ltd 532352
KLG Systel Ltd 531269 KLGSYSTEL
Kody Technolab Ltd 91666 KODYTECH
KPIT Technologies Ltd 542651 KPITTECH
Krisn Information Technologies Ltd 40655
Ksolves India Ltd 543599 KSOLVES
Lan Eseda Industries Ltd 523407 LANESEDA
Latent View Analytics Ltd 543398 LATENTVIEW
Lee & Nee Software (Exports) Ltd 517415
Lex Nimble Solutions Ltd 541196
Maars Software International Ltd 531528 MAARSOFTW
Magellanic Cloud Ltd 538891
Magnum Ltd 530347
Mahaveer Infoway Ltd 539383
Mangalya Soft-Tech Ltd 530243
Mastek Ltd 523704 MASTEK
Master.com Software Ltd 40640
Meglon Infra-Real (India) Ltd 511367
Megri Soft Ltd 539012
Melstar Information Technologies Ltd 532307 MELSTAR
Micro Technologies (India) Ltd 532494 MICROTECH
Micropro Software Solutions Ltd 75780 MICROPRO
Millennium Cybertech Ltd 531942
Millennium Infocom Technologies Ltd 40637
Mindpool Technologies Ltd 535155 MINDPOOL
Mindteck (India) Ltd 517344 MINDTECK
Mipco Seamless Rings (Gujarat) Ltd 505797
Moschip Technologies Ltd 532407
MPS Ltd 532440 MPSLTD
Mudunuru Ltd 538743
MYM Technologies Ltd 531843
N2N Technologies Ltd 512279
Naapbooks Ltd 543351
Nazara Technologies Ltd 543280 NAZARA
Net 4 India Ltd 532912 NET4
Netlink Solutions (India) Ltd 509040
Netripples Software Ltd 542117
Netvision Web Technologies Ltd 532010
Netweb Technologies India Ltd 543945 NETWEB
Network People Services Technologies Ltd 535391 NPST
New Markets Advisory Ltd 508867
Newgen Software Technologies Ltd 540900 NEWGEN
Nexus Software Ltd 517540
Nexxoft Infotel Limited 532045
Nihar Info Global Ltd 531083
Niks Technology Ltd 543282
NINtec Systems Ltd 539843 NINSYS
Nucleus Software Exports Ltd 531209 NUCLEUS
Oasis Infotech Ltd 40627
Objectone Information Systems Ltd 535657
Octaware Technologies Ltd 540416
Odyssey Technologies Ltd 530175
Olatech Solutions Ltd 543578
Omega Interactive Technologies Ltd 511644
Omni Axs Software Ltd 532340
Omnitech Infosolutions Ltd 532882 OMNITECH
One Point One Solutions Ltd 535039 ONEPOINT
Ontrack Systems Ltd 532607
Onward Technologies Ltd 517536 ONWARDTEC
Oracle Financial Services Software Ltd 532466 OFSS
Orchasp Ltd 532271
Orient Information Technology Ltd(merged) 531167 ORIENTINFO
Orpine Systems Ltd 40694
Pace Automation Ltd 517292
Palred Technologies Ltd 532521 PALREDTEC
Palsoft Infosystems Ltd 511597
Panoramic Universal Ltd 531816 PANORAMUNI
PB Fintech Ltd 543390 POLICYBZR
PCS Technology Ltd 517119
Pentagon Global Solutions Ltd 532314
Pentamedia Graphics Ltd 500329 PENTSFWARE
Pentasoft Technologies Ltd(merged) 531492 PENTACOMMU
Persistent Systems Ltd 533179 PERSISTENT
PFL Infotech Ltd 531769
Pine Animation Ltd 511421
Plada Infotech Services Ltd 91657 PLADAINFO
Platinumone Business Services Ltd 543352
Polaris Consulting & Services Ltd 532254 POLARIS
Powersoft Global Solutions Ltd 532736
Pragnya Software Systems Ltd 40652
Prism Informatics Ltd 505530
Prithvi Information Solutions Ltd 532675 PRITHVI
Protean eGov Technologies Ltd 544021
Proto Developers & Technologies Ltd 530069
Qpro Infotech Ltd 506102
Quadpro ITeS Ltd 535400 QUADPRO
Quick Heal Technologies Ltd 539678 QUICKHEAL
Quicktouch Technologies Ltd 77759 QUICKTOUCH
Quint Digital Ltd 539515
Quintegra Solutions Ltd 532866 QUINTEGRA
R S Corporation Ltd 531700
R S Software (India) Ltd 517447 RSSOFTWARE
R Systems International Ltd 532735 RSYSTEMS
Rajesh Global Solutions Ltd 40645
Ram Info Ltd 530951
Ramco Systems Ltd 532370 RAMCOSYS
Ranklin Solutions Ltd 590077 RANKLIN
Ransi Softwares India Ltd 532165
Rategain Travel Technologies Ltd 543417 RATEGAIN
Reliable Data Services Ltd 535020 RELIABLE
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Relson India Ltd 502473
Response Informatics Ltd 538273
Riddhi Corporate Services Ltd 540590
Rolta India Ltd 500366 ROLTA
Route Mobile Ltd 543228 ROUTE
RPSG Ventures Ltd 542333 RPSGVENT
S Kumars Online Ltd 532316
SagarSoft (India) Ltd 540143
Sahana Systems Ltd 78078 SAHANA
Sai Info Ltd(merged) 532118
Saksoft Ltd 590051 SAKSOFT
Sancode Technologies Ltd 543897
Sankhya Infotech Ltd 532972
Sanraa Media Ltd 531312
Sasken Technologies Ltd 532663 SASKEN
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Saven Technologies Ltd 532404
Scanpoint Geomatics Ltd 526544
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Scintilla Software Technology Ltd 530729 SCINTSOFT
Secmark Consultancy Ltd 543234 SECMARK
SecureKloud Technologies Ltd 512161 SECURKLOUD
Senthil Infotek Ltd 531980
Sequelsoft India Ltd 532422
Seshachal Technologies Ltd 531794
Shapre Global Info Services Ltd (Merged) 532361
Shell Infotech Ltd 503630
Shine Computech Ltd 40650
Shonkh Technologies International Ltd 512028
Shreejal Info Hubs Ltd 506874
Shyama Infosys Ltd 531219
Sibar Software Services (India) Ltd 532302
Sierra Optima Ltd 531121 SIERRAOPT
Sigma Solve Ltd 543917 SIGMA
Silver Touch Technologies Ltd 543525 SILVERTUC
Silverline Technologies Ltd 500389 SILVERLINE
Sindu Valley Technologies Ltd 505504
SMS Techsoft (India) Ltd 531838
Sofcom Systems Ltd 538923
Softech Infinium Solutions Ltd 530651
Softrak Technology Exports Ltd 526457
Softsol India Ltd 532344
Softtech Engineers Ltd 543470 SOFTTECH
Sonata Software Ltd 532221 SONATSOFTW
Southern Infosys Ltd 540174
Spanco Ltd 508976 SPANCO
Sparc Electrex Ltd Partly Paidup 890184
Spectacle Ventures Ltd 512413 SPECTACLE
Springform Technology Ltd 501479
Srico Software India Ltd 40624
Sriven Multi-Tech Ltd 531536
Starcom Information Technology Ltd 531616
Sterling Webnet Ltd 531901
Stock Net International Ltd 512640
Subex Ltd 532348 SUBEXLTD
Suchinfotech Ltd 40635
Sylph Technologies Ltd 511447
Synfosys Business Solutions Ltd 40631
Synoptics Technologies Ltd 73365 SYNOPTICS
Systango Technologies Ltd 78521 SYSTANGO
Taksheel Solutions Ltd 533639 TAKSHEEL
Tanla Platforms Ltd 532790 TANLA
Tata Elxsi Ltd 500408 TATAELXSI
Tata Technologies Ltd 544028 TATATECH
TCS e-Serve Ltd (Merged) 509028 E-SERVEINT
TechNest Solutions Ltd 40414
TechNVision Ventures Ltd 501421
Tej Infoways Ltd 538793
TeleCanor Global Ltd 530595
Teledata Marine Solutions Ltd 533462 TELEMARINE
Teledata Technology Solutions Ltd 533089 TELEDATAIT
Teleperformance Business Services India Ltd 532833
Tera Software Ltd 533982 TERASOFT
Titan Intech Ltd 521005
Top Media Entertainment Ltd 532036
Tracxn Technologies Ltd 543638 TRACXN
Transcon Research & Infotech Ltd 531318
Transtream India.Com Ltd 532258
Tranway Technologies Ltd 542923
Trejhara Solutions Ltd 542233 TREJHARA
Tricom India Ltd 531675 TRICOM
Tridhya Tech Ltd 78836 TRIDHYA
Trigyn Technologies Ltd 517562 TRIGYN
Triton Corp. Ltd 523387
Turbotech Engineering Ltd 504358
Tutis Technologies Ltd 532311
Twinstar Industries Ltd 531917
Uniport Computers Ltd 523632
Unipro Technologies Ltd 540189
United Interactive Ltd 502893
USG Tech Solutions Ltd 532402
Valuemart Info Technologies Ltd 532338
Vantel Technologies Ltd 532396
Varanium Cloud Ltd 535478 CLOUD
Varanium Cloud Ltd Partly Paidup 92417 CLOUDPP
Variman Global Enterprises Ltd 540570
Vedavaag Systems Ltd 533056
Veefin Solutions Ltd 543931
Vertexplus Technologies Ltd 77890 VERTEXPLUS
Vertoz Advertising Ltd 535029 VERTOZ
Vikram Software Ltd 40634
Virgo Global Ltd 532354
Virinchi Ltd 532372 VIRINCHI
Virtual Dynamics Software Ltd 40649
Virtualsoft Systems Ltd 531126
Visesh Infotecnics Ltd 532411 VISESHINFO
Visie Cyber Tech Ltd 40625
VisualSoft Technologies Ltd(merged) 532214 VISUALSOFT
Vivo Collaboration Solutions Ltd 535418 VIVO
VL E-Governance & IT Solutions Ltd 543958 VLEGOV
Washington Softwares Ltd 531933
Watson Software Ltd 516090
We Win Ltd 543535 WEWIN
Weal Infotech Ltd 40647
Web Element Solutions Ltd 780016
Wherrelz IT Solutions Ltd 543436
Wisec Global Ltd 511642
Xchanging Solutions Ltd 532616 XCHANGING
Xelpmoc Design and Tech Ltd 542367 XELPMOC
XT Global Infotech Ltd 531225
Yudiz Solutions Ltd 66576 YUDIZ
Zaggle Prepaid Ocean Services Ltd 543985 ZAGGLE
Zenith Global Consultants Ltd 40677
Zenith Infotech Ltd 532298 ZENITHINFO
Zensar Technologies Ltd 504067 ZENSARTECH
Zigma Software Ltd 532177
Zylog Systems Ltd 532883 ZYLOG

Share Holding

Category No. of shares Percentage
Total Foreign
Total Institutions
Total Govt Holding
Total Non Promoter Corporate Holding
Total Promoters
Total Public & others 0 0
Total
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About

Sify Technologies Ltd is one of the leading integrated Information Communications Technology companies in India. The company is primarily involved in providing services, such as Corporate Network and Data Services, Internet Access Services, Online Portal and Content, development of e-learning software and in selling hardware and software related to such services. They offer end-to-end solutions with a comprehensive range of services delivered over a common Internet backbone infrastructure. The company is headquartered in Chennai. The company is the fifth-largest internet access provider in the country. The services enable their business and customers to communicate, transmit and share information, access online content and conduct business remotely using the private data network or the Internet. They provide National Long Distance and International Long Distances services through their network. Sify Technologies Ltd was incorporated on December 12, 1995 as Satyam Infoway Ltd. In April 1998, the company commenced commercial operations. In October 1999, they completed their initial public offering of ADSs in the United States. Until December 2002, the company was majority-owned subsidiary of Satyam Computer Services Ltd. In January 2003, the company changed their name from Satyam Infoway Ltd to Sify Ltd. During the year 2003-04, the company acquired an enterprise assurance company, E Alcatraz Consulting Pvt Ltd. They established a centre at Mumbai to showcase their capabilities in providing security and solutions. The company's security service division received new orders from new customers namely GE, Hutch, TCS, HDFC and Toyota Kirloskar Motors. Also, they received repeat business from Whirlpool, Patni Computers and Siemens. During the year, the company acquired the entire shares of Sify Plasticscommerce Ltd held by Plasticscommerce Company Pte Ltd, Singapore and thus Sify Plasticscommerce Ltd became a wholly owned subsidiary company. The company sold their entire investments in Wisden Cricinfo Ltd for a consideration of Rs 35,269. Also, in July 3, 2007, they sold their entire take in the subsidiary, Satyam Institute of E Business Ltd to Dr Reddy's Laboratories Ltd. During the year, the entire business of the Sify eLearning Ltd including the fixed assets was transferred to the company. Also, the entire business of Satyam Webexchange Ltd, India World Communications Ltd and Sify Plasticscommerce Ltd were transferred to the company in view of the unfavourable market conditions. During the year 2004-05, the company entered into arrangements with CPA firms in the USA, whereby the company provides the expertise to facilitate Sarbanes Oxley Act compliance by the US public companies. They won two largest IP VPN orders. Also, they won new orders from Airtel and Google, as well as repeat engagements from GE India, Hutch, HDFC Standard Life, Oracle and Wipro. The company launched a standalone Remote Management Service for remotely managing and supporting infrastructure like data centers, networks, operating systems, database and application layers. They launched Games@iWay, with a number of 3D games including Counterstrike, Unreal Tournament 2004. The company made a tie up with Level Up, India to co-promote 'Ragnarok', India's first online game, and with Actoz Soft from Korea for their game A3. Also, they also started a chain of game parlours - gamedromes to promote these online and CD based games and to create a gaming community. During the year 2005-06, the company won multiple clients for their MPLS VPN services. The company's hosting and network services started integrating their service offerings for providing end-to-end offerings to customers including disaster recovery solutions. In November 2005, Satyam Computer Services Ltd divested their entire shareholding in the company to Infinity Capital Ventures LP, USA. During the year 2006-07, the company transferred the IP-VPN business to Sify Communications Ltd, a subsidiary company, with effect from November 22, 2006. In April 2006, the company acquired Globe Travels, a US-Domestic and US-India Online Travel Agency. They opened additional sales offices at USA (2 locations), London and Dubai. Also, they expanded their network reach by setting up an international Point of Presence in Singapore. During the year, the company developed a First level 4 internet data center in Bangalore to cater to the rising demand for hosting primary and disaster recovery data centers. In April 2007, the y launched Hyderabad live as a part of their expanding initiatives on local content. Hyderabad live offers real time live traffic feeds from five important locations in Hyderabad. They re-launched popular NRI portal, Samachar with audio visual content for the vast NRI diaspora. During the year 2007-08, the name of the company was changed from Sify Ltd to Sify Technologies Ltd to better reflect their core competence. Consequent to the name change, the company also changed their logo design with a new promise to their stake holders. During the year, the company launched RoamConnect, a solution that enables customers to access a global high-speed, reliable, and secure wireless Broadband service when on the move. They rechristened Sify iWay brand as Sify e-Port. Along with the brand change, they also repositioned the cafes as the largest e-services chain in the country. During the year, the company entered into several strategic tie ups with private companies and government institutions for providing services like travel ticket booking, utility bill payments, financial services, mobile recharge, international calling, online tutorials etc. through the e-Port chain. They developed their fourth Data Centre at Airoli, Navi Mumbai, to cater to rising demand. During the year, India World Communications Limited, Globe Travels Inc. Iowa, USA and Sify Americas Inc., USA had been closed as there were no business operations in these companies during the last three years. During the year 2008-09, Sify Communication Ltd, the company's subsidiary merged with the company with effect from April 1, 2008. Consequent to the merger, the VPN business was transferred to the company. Also, the National Long Distance (NLD) and International Long Distance (ILD) licences are being transferred to the company for the provision of VPN services. During the year, the company launched their ILD and NLD voice services under the licence issued by the Department of Telecommunications. They revamped the Enterprise Application Services, with consolidation and strengthening of the various services offered. In November 2008, they launched their brand new mail service from Sifymail called WIYI or World In Your Inbox. The company entered into strategic tie-ups with the National Internet Exchange (NIXI) and Microsoft for providing online educational content and certification to cafe users. Also, they entered into strategic tie ups with select colleges and competitive training institutes for conducting online examinations at ePorts. In July 2009, the company signed an MoU with Merlot by which both organizations would co-operate to develop plans and implement programs to serve and benefit both parties and their constituencies. In February 2010, the company launched their SLA driven utility based On-Demand storage service to manage the complete lifecycle of enterprise information, from its inception to its final disposal. In May 2010, the company and Gulf Bridge International (GBI), Qatar, signed an agreement to land GBI's sub-sea cable system in India. The GBI cable system, which will connect all the countries of the Gulf region to each other, will provide onward connectivity to India and beyond via Sify's landing station. In July 2010, the company has proposed to take up the laying of an international undersea cable project, connecting Delhi and Singapore.

Chairman Speech

With the government laying more emphasis on self-reliance and data protection through localization, the demand for data center outsourcing market in India is expected to average 25% annual growth by 2023-24 to touch US$ 5 billion.

Dear friends,

Data is the new Oil Indeed. Data in the 21st century is what oil used to be in the 18th century: An immensely untapped valuable asset. As we move deeper into this age of digital economy, data gets more valuable than ever. In fact, data has become the key to the functioning of almost everything – from governments to small roadside stores. Without data, progress halts.

It's raining Internet around the world

Affordability and accessibility have made internet a productive tool for a major chunk of the global populace. It is believed that over 2.5 quintillion bytes of the data is created every day around the world, and this number is increasing by the day with the ever-increasing digital footprint. In India, data generation is on a frenetic spurt

In the last five years, India's efforts to be a fully digital economy have resulted in better internet connectivity and infrastructure. Many robust developments such as the exponential growth of data, big data Analytics, e-commerce, digital wallets, artificial intelligence and the upcoming shift to 5G technology have been catalyzed by this digital drive. The average Indian would use about 12 GB data every month in 2019 – the highest consumption globally – and this is expected to reach 25 GB (gigabytes) by 2025. This is being driven by affordable data connectivity services and the increase in rich media consumptions. With the government insisting that all data generated in India be stored locally, Data Centers will be the next big business opportunity. Securing the treasure gets more critical than ever As we entered 2021, we came to know of a massive heist and the media reports that security researchers have found that in a breach of servers of a reputed payment gateway, sensitive data of over 100 million credit and debit cards users have been leaked on the dark web. This, if used maliciously, could lead to a colossal loss for India in terms of trust and respect as well as for Indians in terms of financial frauds.

This highlights clearly the growing need for data security in an increasingly digital India. Data Centers turn the essential backbone Data Centers have turned into one of the most essential components of the digital economy for their specialty in managing and preserving data in the safest way. To adapt to an exploding digital ecosystem, the demand for Data Centers is also spiraling across the country. The Covid-19 pandemic and the containment measures the authorities imposed made the business of Data

Centers even more critical as lives turned more and more dependent on the internet. Accordingly, the sector was granted the essential status for continuity of mission critical services under the IT/ITeS/Data Center Industry framework advised by the government, which in turn has also notched up the significance of the industry, making a louder blip on the global investment radar. Moreover, with the government laying more emphasis on self-reliance and data protection through localization, the demand for data center outsourcing market in India is expected to average 25% annual growth by 2023-24 to touch US$5 billion.

Sify: The custodian of the precious resource At Sify, we are ready for this exponential growth. Continuous investment in cutting-edge technology enables us to align with the global security standards and remain relevant to our customers in an exceedingly dynamic sectoral ecosystem where we operate. I would like to draw your attention to a realization about the power of data. It is data that kept life moving when the onslaught of a virus brought most parts of the world to a halt. This gives us the realization about the potential the business of data holds and the prospect it has in store for the days to come.

Raju Vegesna
Chairman & Managing
Director

   

Company History

Sify Technologies Ltd is one of the leading integrated Information Communications Technology companies in India. The company is primarily involved in providing services, such as Corporate Network and Data Services, Internet Access Services, Online Portal and Content, development of e-learning software and in selling hardware and software related to such services. They offer end-to-end solutions with a comprehensive range of services delivered over a common Internet backbone infrastructure. The company is headquartered in Chennai. The company is the fifth-largest internet access provider in the country. The services enable their business and customers to communicate, transmit and share information, access online content and conduct business remotely using the private data network or the Internet. They provide National Long Distance and International Long Distances services through their network. Sify Technologies Ltd was incorporated on December 12, 1995 as Satyam Infoway Ltd. In April 1998, the company commenced commercial operations. In October 1999, they completed their initial public offering of ADSs in the United States. Until December 2002, the company was majority-owned subsidiary of Satyam Computer Services Ltd. In January 2003, the company changed their name from Satyam Infoway Ltd to Sify Ltd. During the year 2003-04, the company acquired an enterprise assurance company, E Alcatraz Consulting Pvt Ltd. They established a centre at Mumbai to showcase their capabilities in providing security and solutions. The company's security service division received new orders from new customers namely GE, Hutch, TCS, HDFC and Toyota Kirloskar Motors. Also, they received repeat business from Whirlpool, Patni Computers and Siemens. During the year, the company acquired the entire shares of Sify Plasticscommerce Ltd held by Plasticscommerce Company Pte Ltd, Singapore and thus Sify Plasticscommerce Ltd became a wholly owned subsidiary company. The company sold their entire investments in Wisden Cricinfo Ltd for a consideration of Rs 35,269. Also, in July 3, 2007, they sold their entire take in the subsidiary, Satyam Institute of E Business Ltd to Dr Reddy's Laboratories Ltd. During the year, the entire business of the Sify eLearning Ltd including the fixed assets was transferred to the company. Also, the entire business of Satyam Webexchange Ltd, India World Communications Ltd and Sify Plasticscommerce Ltd were transferred to the company in view of the unfavourable market conditions. During the year 2004-05, the company entered into arrangements with CPA firms in the USA, whereby the company provides the expertise to facilitate Sarbanes Oxley Act compliance by the US public companies. They won two largest IP VPN orders. Also, they won new orders from Airtel and Google, as well as repeat engagements from GE India, Hutch, HDFC Standard Life, Oracle and Wipro. The company launched a standalone Remote Management Service for remotely managing and supporting infrastructure like data centers, networks, operating systems, database and application layers. They launched Games@iWay, with a number of 3D games including Counterstrike, Unreal Tournament 2004. The company made a tie up with Level Up, India to co-promote 'Ragnarok', India's first online game, and with Actoz Soft from Korea for their game A3. Also, they also started a chain of game parlours - gamedromes to promote these online and CD based games and to create a gaming community. During the year 2005-06, the company won multiple clients for their MPLS VPN services. The company's hosting and network services started integrating their service offerings for providing end-to-end offerings to customers including disaster recovery solutions. In November 2005, Satyam Computer Services Ltd divested their entire shareholding in the company to Infinity Capital Ventures LP, USA. During the year 2006-07, the company transferred the IP-VPN business to Sify Communications Ltd, a subsidiary company, with effect from November 22, 2006. In April 2006, the company acquired Globe Travels, a US-Domestic and US-India Online Travel Agency. They opened additional sales offices at USA (2 locations), London and Dubai. Also, they expanded their network reach by setting up an international Point of Presence in Singapore. During the year, the company developed a First level 4 internet data center in Bangalore to cater to the rising demand for hosting primary and disaster recovery data centers. In April 2007, the y launched Hyderabad live as a part of their expanding initiatives on local content. Hyderabad live offers real time live traffic feeds from five important locations in Hyderabad. They re-launched popular NRI portal, Samachar with audio visual content for the vast NRI diaspora. During the year 2007-08, the name of the company was changed from Sify Ltd to Sify Technologies Ltd to better reflect their core competence. Consequent to the name change, the company also changed their logo design with a new promise to their stake holders. During the year, the company launched RoamConnect, a solution that enables customers to access a global high-speed, reliable, and secure wireless Broadband service when on the move. They rechristened Sify iWay brand as Sify e-Port. Along with the brand change, they also repositioned the cafes as the largest e-services chain in the country. During the year, the company entered into several strategic tie ups with private companies and government institutions for providing services like travel ticket booking, utility bill payments, financial services, mobile recharge, international calling, online tutorials etc. through the e-Port chain. They developed their fourth Data Centre at Airoli, Navi Mumbai, to cater to rising demand. During the year, India World Communications Limited, Globe Travels Inc. Iowa, USA and Sify Americas Inc., USA had been closed as there were no business operations in these companies during the last three years. During the year 2008-09, Sify Communication Ltd, the company's subsidiary merged with the company with effect from April 1, 2008. Consequent to the merger, the VPN business was transferred to the company. Also, the National Long Distance (NLD) and International Long Distance (ILD) licences are being transferred to the company for the provision of VPN services. During the year, the company launched their ILD and NLD voice services under the licence issued by the Department of Telecommunications. They revamped the Enterprise Application Services, with consolidation and strengthening of the various services offered. In November 2008, they launched their brand new mail service from Sifymail called WIYI or World In Your Inbox. The company entered into strategic tie-ups with the National Internet Exchange (NIXI) and Microsoft for providing online educational content and certification to cafe users. Also, they entered into strategic tie ups with select colleges and competitive training institutes for conducting online examinations at ePorts. In July 2009, the company signed an MoU with Merlot by which both organizations would co-operate to develop plans and implement programs to serve and benefit both parties and their constituencies. In February 2010, the company launched their SLA driven utility based On-Demand storage service to manage the complete lifecycle of enterprise information, from its inception to its final disposal. In May 2010, the company and Gulf Bridge International (GBI), Qatar, signed an agreement to land GBI's sub-sea cable system in India. The GBI cable system, which will connect all the countries of the Gulf region to each other, will provide onward connectivity to India and beyond via Sify's landing station. In July 2010, the company has proposed to take up the laying of an international undersea cable project, connecting Delhi and Singapore.

Directors Reports

Dear Members,

The Board of Directors of your Company hereby present the report of business and operations together with the Audited Financial Statements of your Company for the Financial Year ended March 31, 2023.

1. FINANCIAL INFORMATION

in lakhs

Financial Highlights

Details

Standalone

Consolidated

2022-23 2021-22 2022-23 2021-22
Income from operations 1,19,028 1,20,183 3,34,037 2,70,257

Earnings Before Finance Costs, Tax, Depreciation & amortization,

20,524 24,212 62,907 60,400

Other Income and exceptional items (EBITDA)

Depreciation and Amortization 17,221 15,708 39,719 32,835
Finance Costs 5,156 3,524 16,526 10,981

Other Income (Including Forex Gain, Gain on sale of PPE)

4,607 1,924 3,548 2,044

Other Expenses (Including Forex Loss, Loss on Sale of PPE)

18,039 13,531 35,462 30,434
Profit Before Tax 2,754 6,837 10,210 18,628
Profit After Tax 2,508 4,422 6,745 12,725

1.1 Financial information of the Subsidiaries

In accordance with Section 129(3) of the Companies Act, 2013, (the Act), your Company has prepared the Consolidated Financial Statements of the Company. Further, a statement containing the salient features of the Financial Statements of our Subsidiaries in the prescribed Form AOC-1 is provided as Annexure 1 to this Report. The statement also provides the details of performance and financial position of each of the Subsidiaries. A brief of the performance of the Subsidiaries are as follows:

Name of the Subsidiary

Revenue

Profit / Loss

31.3.2023 31.3.2022 31.3.2023 31.3.2022
Sify Infinit Spaces Limited 1,02,134 75,821 8,906 8,575
Sify Digital Services Limited 97,852 75,699 (3,735) 769

Sify Technologies (Singapore) Pte Limited

14,712 742 230 23

Sify Technologies North America Corporation

7,140 6,274 (231) (946)

Sify Data and Managed Services Limited

- - (7) 29

Print House (India) Private Limited

- 7 (559) (1,008)

Patel Auto Engineering (India) Private Limited

446 1,477 (915) 17

Sify Data and Managed Services Limited

During the year, Sify Data and Managed Services Limited has transferred its lease holds rights in Plot No.H-11/1A at Siruseri, Chennai to M/s. Sify Infinit Space Limited, one of the wholly owned subsidiaries of the Company for construction of Data Center.

Sify Infinit Spaces Limited

During the year under review, the Company has acquired lease holds rights in Plot

No.H-11/1A at Siruseri, Chennai from M/s. Sify Data and Managed Services Limited, one of the wholly owned subsidiaries of the Company for construction of Data Center.

Print House (India) Private Limited

During the year, Print House (India) Private Limited (PHIPL), has not reported any revenue. The Board of Directors have approved the merger of the Company with

M/s. Sify Infinit Spaces Limited, a fellow subsidiary of the Company and it is pending for the approval from Hon'ble National Company Law Tribunal, Chennai.

Acquisition of new subsidiary

During the year under review, the Company has acquired M/s. Patel Auto Engineering

(India) Private Limited, Mumbai for setting up of Data Center at Navi Mumbai.

1.2. Dividend

Your Directors consider it appropriate to conserve and plough back the resources within the Company to stay liquid and use it prudently for operations and expansion. Hence, your Directors do not recommend any dividend for the Financial Year 2022-23.

Transfer of Amount to Investor Education and Protection Fund

During Financial Year 2022-23, the Company has transferred the unpaid/ unclaimed dividend pertaining to FY 2013-14, amounting to 476 to the Investors Education and

Protection Fund (IEPF) Account established by the Central Government. The Company has also uploaded the details of unpaid and unclaimed dividend amounts lying with the Company as on July 4, 2022 (date of last Annual General Meeting) on the Company's website https://www.sifytechnologies.com.

Pursuant to the provisions of Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended, the shares on which dividend remains unpaid/ unclaimed for seven consecutive years or more shall be transferred to the IEPF after giving due notices to the concerned shareholders. Accordingly, the Company has transferred 376 equity shares to the IEPF during Financial Year 2021-22. The details of equity shares transferred are also available on the Company's website https:// www.sifytechnologies.com. The shareholders whose unpaid dividend/ shares are transferred to the IEPF can request the Company/ Registrar and Share Transfer Agent, as per the applicable provisions in the prescribed Form No. IEPF-5, for claiming the unpaid dividend/ shares out of the IEPF.

1.3. Transfer to Reserves

The Company has not transferred any amount to the Reserves during the Financial Year, under review.

1.4. Share Capital

During the year under review, the Issued and Paid-up Share Capital of the Company has increased on account of exercise of Stock Options issued to Associates under the Associates Stock Option Plan 2014 (ASOP).

The Options issued under ASOP and the disclosures were in compliance with the provisions of Section 62 of the Act read with Rule 12(9) of the Companies (Share Capital and

Debentures) Rules, 2014. No employee was issued Stock Option during the year equal to or exceeding 1% of the Issued Capital of the Company. In this regard, the Nomination and Remuneration Committee has approved grant of options during the year as per the details given below:

2022-23

2021-22

Particulars

No of No of No of No of
Options Employees Options Employees
1. Options granted 25,000 1 1,95,000 2
2. Options vested 12,86,000 133 14,59,000 139
3. Options exercised 93,000 9 5,04,300 53

4. Total number of shares arising as a result of exercise of option

93,000 9 5,04,300 53
5. Options lapsed 1,92,000 10 2,38,000 12

6. Exercise price

Varies based on the date of allotment ranging from 66.60 to 230.97

Varies based on the date of allotment ranging from 57.66 to152.52

7. Variation of terms of options

Nil Nil Nil Nil

8. Money realized by exercise of options (in lakhs)

75 8 430 53

9. Total number of options in force

69,72,978 136 72,32,978 151

Employee-wise details of options granted to:

Particulars

No. of Options
1. Key Managerial Personnel -

2. Any other employee who receives a grant of options in any one year of option amounting to five percent or more of options granted during that year

-

3. Identifiedemployees who were granted options, during any one year, equal to or exceeding one percent of the issued capital (excluding outstanding warrants and conversions) of the company at the time of grant

-

1.5 Particulars of Loans, Guarantees and Investments

Details of Loans, Guarantees and Investments covered under Section 186 part of the Notes to the Financial Statements provided in this Annual Report.

1.6 Deposits

Your Company has not accepted any deposits within the meaning of Section 73 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014.

1.7 Events subsequent to the date of financial statements

No material changes and commitments have occurred affecting the financial position of the Company after March 31, 2023 till the date of this Report .

2. BUSINESS REVIEW

2.1 Business Strategy and Overview

The lockdown and its accompanying business slowdown was the germination point for a complete relook at the dependencies around legacy networks. For the technology

Enterprise, it was the start of the human-digital transition. For the technology-dependent

Enterprise, it was a reflection point; if they could keep pace with the emerging trends or if they should offshore the mandate to specialists.

Your Company was fortunate that its transition to the human-digital age (or phygital, as the moniker goes) predated the Covid induced transition, by virtue of which domain knowledge was built long before covid forced Enterprises to adopt digital. Your Company's foray into the Cloud based Network Operation Center, SDWAN and 5G complimenting technologies were the outcome of a DNA that has long strived to build ahead of the curve. These were complimented by virtual elasticity of the network, both for reach and bandwidth.

All of these initiatives had one thing in common; to effectively for the new Enterprise market that pre-sells through a virtual route before the actual product hits the shelves. In effect, the digital transformation enabled marketers to introduce products that already incorporated customer insights, enabled primarily by a resilient network and by extension, a dependable service provider.

Constant innovation and consistent maturity over the years has ensured that Your

Company's network connectivity is now the go-to connectivity provider for Enterprises of differing scale.

2.2 Technology Trends

According to the Davos Agenda, a forward paper released through the Word Economic

Forum, two significant trends will dominate augmentation and digital-physical fusion.

Human augmentation is about highly immersive experiences and enhanced human-computer interfaces allowing humans to become a part of the internet, not just users of it. The next decade will see more augmentation of the human body with bio-digital interfaces, exoskeletons and many other innovations.

Digital-physical fusion is a separate but related idea that means connecting physical assets with digital versions of themselves, a technology already beginning to emerge. Advanced factories and logistics sites currently run digital twins of their production lines, warehouses and vehicles to increase productivity and lower operating costs. By 2030, the technology will spread, not only to other sectors but also across society.

Digital twin of ourselves will be a reality; the recent discussion around the "metaverse" gives a pretty good indication of where we may end up.

Both of these emerging technology trends depend on ubiquitous next-generation connectivity.

Firstly, extreme performance specialized networks will need to emerge. The most sensitive or data-hungry industry 4.0 applications will be served by private networks on-premise, engineered for the lowest latency and the highest reliability and flexibility.

Secondly, there will be networks of networks. Overlapping terrestrial and non-terrestrial networks will form a patchwork quilt of coverage, providing a new level of extreme reliability, local capacity and ubiquity. Seamless coverage can be achieved by augmenting networks with low-orbit and high-throughput satellites, addressing the 95% of the earth's surface that is not covered by terrestrial networks today.

Thirdly, networks-as-a-service will allow entire networks to be consumed on a pay-as-you-go basis. Network owners will have the freedom to create their own network without the burden of buying, installing, or maintaining physical infrastructure.

These three forms of network evolution may sound abstract, but by making it easier for businesses, public sector organizations and communities to access turbo-charged connectivity, they will make it far easier for society to become more sustainable and wealth-generative.

2.3 The key highlights for the year 2022-23

Data Center Capacity has been expanded in Mumbai, Delhi, Chennai, Hyderabad and Kolkota.

At the end of the year, your Company has made available more than 100MW of IT Power at its various Data Centers.

At the end of the year, Sify provides services via 892 fiber nodes across the

The network connectivity service has now deployed 6541 SDWAN service points across the country.

As part of the Corporate Venture Capital initiative, your Company has invested USD 2.09 Million in the Silicon Valley area.

2.4 Awards and recognition

Your Directors are pleased to place on record that your Company was awarded the following during the Financial Year 2022-23:

"Best Brands 2022" by - Economic Times.

' for Product & Services Strategy in the

category of - .

‘Emerging Technology Services Organization of Karnataka.

Through the year, your Company was also recognized by Enterprise majors and independent research organizations.

‘MOST PROMISING IT PARTNER' from Tata Steel Long Products Limited for delivering mission-critical Digital Transformation Projects in line with Industry 4.0.

3. GOVERNANCE AND ETHICS 3.1 Corporate Governance

Your Company is compliant with the requirements of SEC / NASDAQ Regulations relating to the independence of Directors in the Board, Audit, Compensation and Nominating Committees.

In further compliance with the law of the land and the guidelines laid down by the

Ministry of Corporate Affairs, the Company affirms its consonance with the principles of the National Guidelines on Responsible Business Conduct (NGRBC).

1. Businesses should conduct and govern themselves with integrity in a manner that is Ethical, Transparent and Accountable.

2. Businesses should provide goods and services in a manner that is sustainable and safe.

3. Businesses should respect and promote the well-being of all employees, including those in heir value chains.

4. Businesses should respect the interests of and be responsive to all their stakeholders.

5. Businesses should respect and promote human rights.

6. Businesses should respect and make efforts to protect and restore the environment

7. Businesses, when engaging in influencing public a manner that is responsible and transparent.

8. Businesses should promote inclusive growth and equitable development.

9. Businesses should engage with and provide value to their consumers in a responsible manner.

Your Company ensures strict compliance of the Whistle Blower Policy and Code of Conduct for the Board of Directors and Senior Management.

The provisions of Sarbanes-Oxley Act of 2002 which are applicable to the Company have been complied with.

3.2 Directors' responsibility statement

Your Directors state: i) that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures; ii) that they had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit of the Company for that period; iii) that they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities; iv) that they had prepared the annual accounts on a going concern basis; v) that they had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

3.3 Board of Directors

As on March 31, 2023, the Company has seven Directors out of whom four are Independent Directors.

During the Year, Mr. Ananda Raju Vegesna, Executive Director of the Company has not attended all the Board Meetings held during a period of 12 months with or without seeking leave of absence and consequent to provision of Section 167

(1)

(b) of the Act, Mr. Ananda Raju Vegesna ceases to be a Director at the closing business hours of October 28, 2022. He last attended the Board Meeting held on July 30, 2021 and has not attended the Meetings of the Board held on October 29, 2021, January 24, 2022, March 28, 2022, April 18, 2022, July 22, 2022 and October 21, 2022. During the year, pursuant to the recommendation of Nomination and Remuneration Committee, the Board has approved the appointment of Mr M P Vijay Kumar as a Whole-Time Director (Additional) of the Company for a period of 5 (Five) years from November 14, 2022, on a remuneration and on such terms and conditions with liberty and authority to the Board of Directors to alter and vary the terms and conditions of the said appointment from time to time within the scope of Schedule V of the Act or any amendments thereto or any re-enactment thereof as may be agreed to between the Board of Directors and Mr M P Vijay Kumar subject to the approval of Members at the ensuing Annual General Meeting. During the year, the Board of Directors of your Company met 8 times. The details of the meetings and the attendance of the Directors are as follows: The maximum interval between any two meetings did not exceed 120 days as prescribed under 173

(1) of the Act.

Attendance of Directors:

Quarter

Meeting No. Date of Board Meeting No. of Directors entitled to attend the meeting No. of Directors attended the meeting
Q1 1 April 18, 2022 7 6
Q2 2 July 22, 2022 7 6
3 October 21, 2022 7 5
4 November 2, 2022 6 6
Q3
5 November 22, 2022 7 7
6 December 14, 2022 7 7
7 January 25, 2023 7 7
Q4
8 March 28, 2023 7 7

3.4 Directors and Key Managerial Personnel

i. Key Managerial Personnel

As per the provisions of Section 203 of the Act read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the following

Officers of the Company were designated as the Whole-Time Key Managerial

Personnel of the Company:

Mr Raju Vegesna Chairman and Managing Director
Mr M P Vijay Kumar Whole-Time Director and Chief Financial Officer
Mr V Ramanujan Company Secretary

ii. Independent Directors

The following Directors have continued as Independent Directors of the Company:

1. Dr T H Chowdary

2. Mr C B Mouli

3. Mr C E S Azariah

4. Mr Arun Seth

3.5 Directors i. Retirement by rotation

Ms Vegesna Bala Saraswathi, Director, retires by rotation at the ensuing Annual

General Meeting and being eligible, offers herself for reappointment. Your Directors recommend her re-appointment. ii. Declaration by Independent Directors

The Company has received necessary declaration from each Independent Director of the Company under Section 149(7) of the Act confirming that they continue to meet with the criteria of their Independence laid down in Section 149(6) of the Act. For the purpose of Rule 8(5)(iiia) of the Companies (Accounts) Rules, 2014, there were no Independent Directors appointed during the year ended March 31, 2023.

iii. Remuneration to Whole -Time Director

During the year, Mr M P Vijay Kumar, Whole-time Director, has received an excess Remuneration of Rs 0.54 lakhs under Section 197 of the Companies Act, 2013.

In compliance with the provisions of Section 197 read with Schedule V of the Companies Act, 2013, the Company is in the process of obtaining the approval from its Shareholders at the ensuing Annual General Meeting for the excess remuneration paid

. iv. Registration in the Databank of Independent Directors

The Independent Directors of your Company have enrolled with Indian Institute of

Corporate Affairs and complied with the provisions therewith.

3.6 Committees

i. Audit Committee

The Audit Committee consists of Mr C B Mouli, Mr Arun Seth and Mr C E S Azariah as Members. Mr C B Mouli, Chartered Accountant who is the Financial Expert, is the Chairman of the Audit Committee.

During the year, the committee met five times. The dates of Meetings are April 18,

2022, June 10, 2022, July 22, 2022, October 20, 2022 and January 25, 2023.

Attendance of Directors:

Name of the Director

No. of Meetings held No. of Meetings attended
Mr. C B Mouli 5 5
Mr. C E S Azariah 5 5
Mr. Arun Seth 5 5

ii. Compensation Committee / Nomination & Remuneration Committee

The Compensation Committee / Nomination & Remuneration Committee consists of Dr T H Chowdary, Mr C B Mouli and Mr C E S Azariah as Members. Dr T H Chowdary is the Chairman of the Committee.

The Company has framed a Policy on the Directors' appointment and remuneration positive attributes, independence including criteria for determining qualifications, of a Director and other matters provided under sub-section (3) of section 178 of Act.

During the year, the committee met five

2022 2022, July 22, 2022, October 21, 2022, November 2, 2022 and January 25, 2023.

Attendance of Directors:

Name of the Director

No. of Meetings held No. of Meetings attended
Mr. T H Chowdary 5 5
Mr. C B Mouli 5 5
Mr. C E S Azariah 5 5

iii. Corporate Social Responsibility Committee

The CSR Committee was reconstituted consequent to the vacation of office of Mr. Ananda Raju Vegesna during the financial year. The CSR Committee consists of the following Members:

S. No.

Name of the Director Designation
1 Mr. Raju Vegesna Chairman & Member
2 Ms. Vegesna Bala Saraswathi Member
3 Mr. C E S Azariah Member

During the year, the committee met on July 22, 2022 and November 2, 2022.

iv. Nominating Committee

The Nominating Committee constituted under the SEC Regulations consists of Dr T H Chowdary, Mr C B Mouli and Mr C E S Azariah as members. Dr T H Chowdary is the Chairman of the Committee.

3.7 Statement of Performance Evaluation by the Board

The Board of Directors of your Company, based on procedures (through questionnaires,

One to One Meetings and discussion with all the stakeholders), have evaluated its performance and that of its Committees and Individual Directors.

The performance evaluation criteria for Directors are determined by the Nomination and Remuneration Committee.

In a separate Meeting of Independent Directors, performance of Non-Independent

Directors, the Board as a whole and the Chairman of the Company was evaluated, taking into account the views of Executive Directors and Non-Executive Directors. The Board and the Nomination and Remuneration Committee reviewed the performance of Individual Directors on the basis of criteria such as the contribution of the Individual Director to the Board and Committee Meetings.

3.8 Remuneration Policy

The Board, Nomination & Remuneration and Compensation Committee framed a

Policy for selection and appointment of Directors including determining qualifications, independence of a Director, Key Managerial Personnel, Senior Management Personnel and their remuneration as part of its Charter and other matters provided under Section 178(4) of the Act and the charter have been displayed on the Company's website at www. sifytechnologies.com.

3.9 Risk Management

The Board of Directors of the Company have approved the Risk Management Policy wherein all material risks faced by the Company are identified and assessed. Business risks are identified based on incident analysis and the environment in which the Company operates and the focus on Risk Management continues to be high. The periodic assessment of business risk environment is carried out to identify significant risks to the achievement of business objectives of the Company. Key risks are reported and evaluated at appropriate forums and levels within the Company. The Risk Committee of the Company is responsible for assisting the Audit Committee with a full status of the risk assessment and management of the risks. Audit Committee and the Board also obtain periodical updates on identified risks, depending upon the nature, quantum, and likely impact on the business.

3.10 Vigil Mechanism

In compliance with the procedure laid down under the Whistleblower Policy / Vigil mechanism as required under the Act / Sarbanes-Oxley Act, 2002, the Company has established procedures for: i. receiving, retaining and treating complaints received; ii. confidential,anonymous submission by Employees / Directors, of complaints regarding questionable accounting or auditing matters, conduct which results in a violation of law by Company or in a substantial mismanagement of Company resources; iii. reporting genuine concerns by the Employees and Directors; iv. adequate safeguards against victimization of persons who use vigil mechanism.

3.11 NASDAQ Listing

Your Company has complied with all the Listing Rules as specified of 24 continuous years of listing on the prestigious NASDAQ Stock market.

3.12 Related Party Transactions

Particulars of contracts / arrangements entered into by the Company with Related Parties referred to in Sub-section (1) of Section 188 of the Act during the Financial Year 2022-23 are listed below:

Subsidiary Companies:

Sify Technologies (Singapore) Pte. Limited

in Lakhs
Advances given -
Receipt of Services 829
Rendering of Services 66
Trade Receivables 4
Trade Payables 433

 

Sify Data and Managed Services Limited

in Lakhs
Advances given -
Advance Repaid 1,318
Loan Given 75
Interest on Loan Given 20
Repayment of Loan 385
Advances Receivables -
Expenses transfer 13

 

Sify Infinit Spaces Limited

in Lakhs
Receipt of services 303
Lease rentals received 1,599
Interest Received 724
Security Deposit transfer 360
Lease deposit received 345
Revenue transfer 1,054
Expenses transfer 3,464
Asset transfer 35
Investment in CCD's 12,250
Amount receivable 1,590
Amount payable 1,271
Loans given 900
Investment made in CCD 22,250

 

Sify Digital Services Limited

in Lakhs
Receipt of services 2,198
Other Income transfer 221
Asset transfer 5,669
Revenue transferred 31,225
Expenses transferred 23,319
Amount receivable 5,499
Amount payable 14,455

 

Print House (India) Private Limited

in Lakhs
Interest on Loan Received 41
Loan Given 100

 

Loan repaid by subsidiary 210
Sale of leasehold land 584
Amounts receivable 584

Sify Technologies North America Corporation, USA

in Lakhs
Expenses Transfer 11
Amount receivable 33

 

Holding Company

Raju Vegesna Infotech and Industries Private Limited

in Lakhs
Lease rental paid 14

 

Enterprise over which KMP have significant influence

Raju Vegesna Developers Private Limited

in Lakhs
Lease rental paid 6

Radhika Vegesna

Lease rental paid 75

Raju Vegesna Foundation

CSR Contribution 123

 

Others

Name of the Director

Nature of Payment in Lakhs
Dr T H Chowdary, Director Consultancy Services 3

There were no Contracts or Arrangements entered into with Related Parties during the year to be disclosed under Sections 188(1) and 134(h) of the Act in Form AOC-2.

3.13 Employees' Particulars in terms of Section 197 read with rules therewith of the Act

Your Company is an unlisted public company and hence the provisions of Section 197(12) of the Act and the Rule 5 (2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are not applicable to the Company.

3.14 Policy on Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Your Company has a zero tolerance approach for sexual Harassment of Women at Workplace. A Policy has been framed and adopted for prevention, prohibition and redressal of sexual harassment at workplace in line with the provisions of Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules framed thereunder. An Internal Complaints Committee has been constituted and there were no Complaints reported under the Act during the year.

3.15 Annual Return

The Ministry of Corporate Affairs vide their notification omitted the requirement of furnishing Annual Return in Form MGT-9, in case the weblink of such Annual return has been disclosed in the Board's report in accordance with Section 92(3) of the Act and the rules made thereunder.

In accordance with the provisions of the Act, the Annual Return in Form MGT 7 has been displayed on the website of the Company at www.sifytechnologies.com.

3.16 Secretarial Standards

During the year, your Company has complied with the provisions of the applicable mandatory Secretarial Standards issued by Institute of Company Secretaries of India.

4. INTERNAL FINANCIAL CONTROLS AND AUDIT

4.1 Adequacy of Internal Financial Controls

The Internal Financial Control is a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external purposes in accordance with applicable reporting requirement standards. Our Internal Financial Control includes: that all disclosures as required by law and applicable accounting/reporting standards have been complied with;

that all policies and procedures of the Company have been adhered to and those policies and procedures relating to safeguarding of assets have been complied with;

that compliance of such policies and procedures enable prevention and detection of fraud and error;

that policies and procedures adopted by the Company ensure accuracy and completeness of accounting records.

On account of its inherent limitations, Internal Financial Control may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate.

The assessment of the effectiveness of our Internal Financial Control as of March 31, 2022 was conducted. The assessment of Internal Financial Control was based on the evaluation of the framework in Internal Control Integrated Framework issued by the Committee of

Sponsoring Organizations of the Tread way Commission (COSO). Based on the assessment, it was concluded that your Internal Financial Control was effective as of March 31, 2023.

4.2 Auditors i. Statutory Auditor Name and Address

M/s Manohar Chowdhry & Associates, Chartered Accountants, Chennai (ICAI Firm Registration No: 001997S) have been appointed as the Statutory Auditors of the years beginning fromCompanyfinancial for period of five year 2021-22 to 2025-26

(i.e. from the conclusion of 25th AGM till 30th AGM of the Company) and as such they continue to hold office. The Company has also received written consent from the

Statutory Auditors that they satisfy the criteria provided under Section 141 of the Act and that their continued appointment shall be in accordance with the applicable provisions of the Act and rules framed thereunder.

Report

The Report issued by M/s Manohar Chowdhry & Associates, Chartered Accountants, the Statutory Auditors, forming part of the Annual Report, does not contain any qualification, reservation, adverse remark or disclaimer.

During the year under review, the Statutory Auditors have not reported to the Audit Committee under Section 143(12) of the Act, any instance of fraud committed against the Company by its Officers or Employees.

ii. Secretarial Auditor

Pursuant to the provisions of Section 204 of the Act read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has appointed Mr. V Ramasubramanian, Company Secretary in Practice to undertake the Secretarial Audit of the Company.

Report

The Report of the Secretarial Auditor in Form MR-3 for the Financial Year ended March 31, 2023 is provided as Annexure 2 to the Report.

The Report does not contain any qualifications, reservations or adverse remarks.

The Board has reappointed Mr V Ramasubramanian, Practicing Company Secretary as the Secretarial Auditor of the Company for the Financial Year 2023-24. iii. Cost Auditor

Pursuant to the provisions of Section 148 of the Act and the Rules made thereunder, the Company has appointed the Cost Auditor as given below to undertake the Cost

Audit of the Company. Report

The Cost Auditor will submit his report for the Financial Year 2022-23 before the due date. Pursuant to the recommendation of the Audit Committee, the Board has approved the appointment of Mr. S Ramachandran, Cost Accountant, as the Cost Auditor, for the Financial Year 2023-24.

Maintenance of cost records

Further, the Board hereby confirms that the cost records specified by the Central

Government as per Section 148(1) of the Act and the Rules made thereunder, have been made and maintained.

5. SOCIAL RESPONSIBILITY AND SUSTAINABILITY

5.1 Corporate Social Responsibility

Pursuant to the provisions of Section 135 and Schedule VII of the Companies Act, 2013, the Policy on Corporate Social Responsibility (CSR) as approved by the Board has been displayed on the Company's website at https://www.sifytechnologies.com/ investors/company-profile/csr-policy/. For the Financial Year 2022-23, the Company had spent 1.61 lakhs towards CSR Projects as detailed herein below:

Particulars

in Lakhs

Amount required to be spent towards CSR 161.37

Amount Spent

Raju Vegesna Foundation 123.38
Guided Fortune Samriti 25.00
Sri Hanuman Mani Education & Culture Trust 8.00
CHILD, Trust 5.00

Annual Report on CSR is provided as Annexure 3 5.2 Human Resource Management

Your Company considers its human resources as an important asset and endeavors to nurture, groom and retain talent to meet the current and future needs of its business. The Company has conducted management and supervisory development programs as well as put in place succession plan and long term career growth plan and has also invested in upskilling our employees to meet the demands of the fast-changing technology landscape by conducting training through Sify . Our training hours went up multifold in the current year.

We continue to provide conducive work environment and opportunities for development of its employees. The number of employees as on March 31, 2023 was 1,409.

5.3 Conservation of Energy and Technology Absorption

Conservation of Energy:

Data Centres are energy intensive and Sify has been working continuously to ensure that The Company operates in the most energy efficient manner. Across all the Data Centres in

India, The Company has implemented comprehensive energy conservation and efficiency programs through Energy usage optimization which eradicates energy hot spots though UPS optimization, installation of power factor controllers and installation of precision air handling units and maintaining power utilization efficiency to improve effectiveness across all the Data Centres. Technology Absorption:

The Company has deployed latest technologies in its Network and its Data Center Business which has helped in improving quality of its services and productivity of its resources.

The Company's operations do not require significant import of technology.

6. OTHER DISCLOSURES 6.1 Order of the Court

During the year, there were no significant and or Courts or Tribunals impacting the going concern status and Company's operations in future.

6.2 Foreign Exchange Earnings and Outgo

Details of Foreign Exchange Earnings and outgo during the year are as follows:

Foreign Exchange Inflow: 21,348 lakhs Foreign Exchange Outgo: 41,359 lakhs

6.3 Change in nature of business of the Company

There is no change in the Company's business activities and its nature of business during the Current financial year.

6.4 Details of application made or proceeding pending under the Insolvency and Bankruptcy Code, 2016

The Company has not made any application under aforesaid bankruptcy code nor the company is facing any proceeding under the said Insolvency and Bankruptcy Code, 2016.

6.5 One Time Settlement with Banks or Financial Institutions

During the year, the Company had not made any One-time Settlement with Banks or

Financial Institutions.

7. ACKNOWLEDGEMENT

We, the Directors take this opportunity to thank all Investors, Customers, Vendors, Banks and Government Authorities for their continued support and also wish to place on record our appreciation for the valuable contribution made by the employees.

For and on behalf of the Board
Chennai

Raju Vegesna

April 24, 2023 Chairman and Managing Director
DIN : 00529027

   

Company Background

Ananta Koti Raju VegesnaAnanta Koti Raju Vegesna
Incorporation Year1995
Registered OfficeII Floor Tidel Park,No 4 Canal Bank Road Taramani
Chennai,Tamil Nadu-600113
Telephone91-44-22540770-77,Managing Director
Fax91-44-22540771
Company SecretaryV Ramanujan
AuditorASA & Associates LLP
Face Value10
Market Lot0
ListingNASDAQ,
RegistrarSatyam Infoway Ltd
Mayfair Centre,1-8-303/36,S P Road,Secunderabad -500003

Company Management

Director NameDirector DesignationYear
Ananta Koti Raju Vegesna Chairman & Managing Director 2021
ANANDA RAJU VEGESNA Executive Director 2021
Vegesna Bala Saraswathi Non Executive Director 2021
T Hanuman Chowdary Independent Director 2021
C B Mouli Independent Director 2021
CHANDRASEKARAN EBENEZER SRINIVASAN AZARIAH Independent Director 2021
V Ramanujan Company Secretary 2021
Arun Seth Independent Director 2021

Listing Information

Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Services-Domestic Rs.0001499.02
Services-Exports Rs.000371.7
Sales NA 000188.93
Unspecified NA 0000
Adjustment Rs.0000
Computer Hardware No 0000
Computer Software No 0000

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