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TERA SOFT
Aedefnmg lT solutions
Date: 28.05.2016
The Secretary
BSE
Limited
Mumbai -
400 001
Scrip Code:533982
Scrip Name: Tera Software Limited
Dear Sir,
31st
March 2016.
This is to inform you that the meeting of the Board of Directors of our Company held on
28u May,20l6 has approved and considered the Audited Financial Results of the
Company for the Financial year ended 3L't March 2015.
T.Gopichand
Vice Chairman
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. STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE qUARTER & F]NANCIAI YEAR ENDED 31ST MARCH
3 Months
Ended for the
sl.
PARTICUI.ARS
No.
Current Year
Corresponding 3
Precedlng 3
Months Ended in
the Prevlous
months ended
Year
2016
(Rs. In |aKhs)
Year to date
figures
for
current year
ended
Year to date
figures for
prelous year
ended
31.O3.2016
31.12.2015
31.03.2015
31.03.2016
31.03.201s
Audited
Unaudited
Audited
Audited
Audited
- 3,44L.52
a.
10,600.51
2,724.O5
b.
596.38
11,196.89
104.18
140.82
985.47
2:7.67
2,828.23
3,s82.34
t7,235.46
9,126.99
8,409.55
L,615.45
1,6s0.94
L0,237.78
2,850.97
|.9s.72
(708.10
862.96
489.44
399.48
2,255.76
L6,249.99
&799.38
Expenses
a.
b.
and stock-in-trade
c.
d.
e.
)ther Expenses
fotal expenses
1734.671
s29.96
t,sL6.67
64.63
68.O7
24.83
269.85
630.74
830.82
452.42
572.84
t,977.42
1,496.10
629.97
392.90
446.00
1,641.90
1,(N0.96
LO,702.21
2,310.L9
3,094.09
L5,il2.04
&06s.40
494.67
518.05
488.24
t,593.42
1,061.59
L36.20
53.46
55.47
280.23
199.J0
630.87
571.51
:inance costs
198.41
t63.77
543.7L
222.69
1,873.65
697.81
1,2o0.59
719.69
432.46
407.73
321.O2
I,t75.84
540.90
432.46
407.73
32t.O2
t,L75.U
540.90
26.L9
(128.e3)
3.29
(303.781
(t27.96:
0.00
(1s3.16
{9.7s1
(0.s1,
(11.98)
(96.971
(90.s81
(49.991
305.49
266.82
227.34
77t.73
362.44
305.49
266.82
227.34
77t.73
362.44
r,257.L9
1,25L.t9
L,25L.19
t,25L.19
t,251.L9
6,46t.70
s,870.66
:xceotional ltems
Profit/Loss from Ordinary Activities before Tax (7+/-8)
9
Tax expense
10
Deferred Tax
Net ProfiV{Loss} from Ordinary Activities after Tax (9+/-10)
11
t2
13
L4
15
o1
16
period, for the year to date and for the previous year (not to
be annualised)
2.44
2.L3
L.82
6.25
2.90
2.44
2.L3
L.82
6.25
2.90
period, for the year to date and for the previous year (not to
be annualised)
The Board has recommended a dividend of L2% per equity share of Rs 10/- each aggregating to Rs 180.71 lakh including Dividend Distribution Tax
subject to approval of Members at the ensuring Annual General Meeting
Wp slo'iltd>
cial Officer
Chief Fin an
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PART
II
PARTICUTARS OF SHAREHOTDING
t7
Public shareholding
Numberofshares
66.00.873
66.10.873
66.87.691
66.00.873
66,87,691
52.76
52.84
53.45
52.76
53.45
Percentase of shareholdins
18
a.
b.
ln takhs)
(Rs.
5,82,420
5,82,420
5,48,700
5,82,420
5,48,700
9.85
9.87
9.42
9.85
9.42
4.65
4.55
4.39
4.65
4.39
53,28,582
53,18,582
s2,75,484
53,28,582
s2,75,4U
90.15
90.13
90.58
90.15
90 s8
42.59
42.5t
42.t6
42.59
2.16
Non-encumbered
- Number of Shares
- Percentage of shares (as a % of the total shareholding of
cromoter and promoter group)
sl.
Ended for
PARTICUIARS
No.
the
Current Year
Corresponding 3
Preceding 3
Months Ended in
months ended
the Previous
Year
Year to date
figures
for
current year
ended
Year to date
figures for
preious year
ended
31.03.2016
3t.L2.20Ls
31.03.201s
31.03.2016
31.03.2015
Audited
Unaudited
Audited
Audited
Audited
;egment Revenue
a.
b.
l-echnical Division
c,
)roiects Division
d.
)thers
e.
Jnallocated
Net sales/lncome from operations
Segment Results [Profit
each Seementl
a.
b.
c.
fechnical Division
)roiects Division
d.
Cthers
2,197.69
644.O7
497.67
2,468.88
t,672.83
8,s02.06
2,L84.t7
L,2L5.78
12,568.89
3,763,88
11,196.89
2,828.23
3,582.32
17.235.46
9,1 6.98
(1s1.31
(32.ls1
797.19
(4.30,
283.54
90.92
91.04
23.40
27t.13
L52.40
1,158.68
s75.91
472.O3
2,323.99
1,198.94
3,690.28
from
44.20
3s.07
40.10
L45.75
155.69
L,t42.49
669.84
732.73
2,736.58
1,790.58
i) lnterest
198.41
t63.77
222.69
697.81
719.69
603.62
tt6.72
204.38
997.44
573.30
Total
Less:
1,868.88
779.3L
1,91s.s2
Capital employed
92.00
18.38
15.36
432.46
407.73
321.O2
t34.48
L,t75.84
540.90
1,263.87
43.31
875.61
1,L67.71
L,263.87
875.61
b.
Technical Division
247.97
424.90
L,020.21
247.97
t,G:o.2L
c.
Projects Division
6,869.68
7,3L9.24
6 931.99
d.
f,thers
0.00
0.00
6931.99
0.00
6,869.68
0.00
0.00
e.
Unallocable
4,106.03
2,790.33
2,205.80
4.106.03
2,205.80
t2,099.28
Lt,702.17
tL,42t.86
L2.O99.28
17,421.86
Total
3 months
Particulars
ended
{31-03-2016)
}.
INVESTOR COMPLAINTS
AA
Ufti alEu",,,/tu'r
Chtef F in a
ci
Of.fi
ee
For Tcra S
VC and f,Ianaging
Direebrr
ItF
I
I
As at 31 March 2015
As at 31 March 2016
(iii)Capital work-in-progress
Notes:
1
The above results have been reviewed by the audit committee Meeting held on 27th May 2016 and approved by the Board of Directors of the Company
at their meeting held on 28th May 2016.
Place: Hyderabad
(T.Gopichand)
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TERn"S,p"r,J"
(Rs. ln !akh)
BALANCE SHEET
Note
Particulars
No
As at 31 March 2015
As at 31 March 2015
(1)
Shareholders'funds
(a) Share capital
t,251.L9
6.46',J..70
L,25t.19
s.870.66
20.67
7,712.89
l2l
Non-current liabilities
(a) Long-term borrowings
(b) Other Long term liabilities
(c) Long-term provisions
43.24
477.70
(3)
20.67
752.82
to.26
L9.47
4,284.45
7,121.85
783.75
540.41
Currentliabilities
(a) Short-term borrowings
10
4,O82.t9
4,284.45
7,289.L9
1,117.32
488.13
Total Liabilities
2,944.77
981.49
288.72
L3,179.O9
9,297,t7
2t.432.39
16.202.77
Assets
(1)
Non-current assets
(a) Fixed assets
(i)Tangible assets
(ii)Capital work-in-progress
lL
L2
13
(2)
Current assets
(a) lnventories
(b)Trade receivables
(c) Cash and cash equivalents
(d) Short-term loans and advances
(e) Other current assets
L4
15
16
t7
18
1,383.47
1,L82.73
220.09
L,402.82
213.93
1)1 46
2LL.7t
1,595.18
618.23
136.30
1,938.2t
2,349.71
1s3.39
243.97
74.75
72,253.59
580.77
618.38
81.60
809.42
15,039.13
2,906.68
473.88
111.68
Total Assets
19,340.79
13,609.09
2,-.432.39
16,202.77
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TERA SOFT
BedefDing
,f Solutions
(Rs.ln Iakh)
Note No
3l
ended
March 2015
ended
31 March 2015
INCOME
Revenue from operations
Other income
L7,235.46
280.23
I,t26.99
17.515.69
9.325.99
LO,237.78
LL
2,255.76
697.81
269.85
2,850.97
529.96
L,5L6.67
7L9.69
630.74
24
3,673.32
2,537.06
15.339.85
8.785.09
1,175.84
540.90
303.78
127.96
L9
20
Total Revenue
199.00
Expenses
27
22
23
Total Expenses
Profit before tax
[ess: Tax expense
(1) Current tax / MAT
Less: MAT Credit
(2)
to Earlier
Years
(734.671
9.75
0.s1
90.58
49.99
77t.73
362.44
771.73
362.44
6.25
6.25
2.90
2.90
operations
Profit
(1) Basic
(2) Diluted
For Tcra Sq
VC anil
/ 8, Fax: +91-40-2354-7449,
E-mail: info@terasoftware.com
www.terasoftware.com
NARVEN ASSOCIATES
CHARTERED ACCOUNTANTS
To the Members
of
Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This
responsibility also includes maintenance of adequate accounting records in accordance with the
provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting
frauds and other inegularities; selection and application of appropriate accounting policies; making
judgments and estimates that are reasonable and prudent; and design, implementation and
maintenance of adequate internal financial controls, that were operating effectively for ensuring the
accuracy and completeness ofthe accounting records, relevant to the preparation and presentation of
the financial statements that give a true and fair view and are free from material misstatement,
whether due to fraud or error.
Auditor's Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We conducted our audit in accordance with the Standards on Auditing issued by Institute of Chartered
Accountants India. Those Standards require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether the financial statements are free from
material misstatement.
evaluating the appropriateness of the accounting policies used and the reasonableness of the
overall presentation
accounting edtimates made by the Company's Directors, as well as
of the financial statements.
d.
tx
Er
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the
financial statements give the information required by the Act in the manner so required and give a true
and fair view in conformity with the accounting principles generally accepted in India, of the state of
affairs of the Company as at March 31,2016, its profits and its cash flows for the year ended on that
date;
that:
a)
We have sought and obtained all the information and explanations which to the best of
our knowledge and belief were necessary for the purpose of our audit;
b)
c) The Balance Sheet, the statement of Profit and loss and Cash Flow Statement dealt with
by this Report are in agreement with the books of account;
d)
In our opinion, the aforesaid Balance Sheet, the statement of Profit and loss and Cash
Flow Statement comply with the Accounting Standards specified under Section 133 of the
Companies Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
e)
On the basis of written representations received from the directors as on March 31,2016,
and taken on record by the Board of Directors, none of the directors is disqualified as on
March 31,2016, from being appointed as a director in terms of Section 164(2) of the Act.
with respect to the adequacy of the internal financial controls over financial reporting of
the Company and the operating effectiveness ofsuch controls, refer to our separate report
in "Anneiure B?'' and
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Date: 28-05-2016
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Place: Hydorabad
Partner
Memborship No: 025995
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NARVEN ASSOCIATES
HARTE RE D ACCO
Continuation Sheet
NTI\NTS
i.
(b) As per the information and explanations given to us the fixed assets of the company have been
physically verified by the management during the year in regular intervals. In our opinion the
frequency of verification of the fixed assets by the management is reasonable having regard to the
size of the company and the nature of its assets.
(c) According to the information and explanations given to us and on the basis of our
examination of the records of the company, the title deeds of the immovable properties are held in
the name of the company.
ll.
The inventory has been physically verified by the management at reasonable intervals and in
our opinion, the frequency of verification is reasonable. No material discrepancies were noticed
on physical verification between the physical stocks and the book stocks.
lll,
During the year the Company has not granted any loans, secured or unsecured to Companies,
firms or other parties listed in the register maintained Under Section 189 of the Companies Act.
Consequently clauses (iii)(a), (iiixb) and (iii)(c) of the companies (Auditor's Report) order, 2016
are not applicable to the company.
lv.
In our opinion and according to the information and explanations given to us, no
loans,
investment and guarantees have been provided to the parities covered under section 185 and 186
the company has complied with the provisions of section 185 and 186 of the Act, with respect to
the loans and investments made.
v.
vl.
vl1.
The company has not accepted any deposits from the public and consequently the directives
issued by the Reserve Bank of India, the provisions of sections 73 to 76 or any other relevant
provisions of the Companies Act and the rules framed there under are not applicable to the
company. Conseqdently no order has been passed by Company Law Board or National Company
Law Tribunal or Reserve Bank Of India or any court or any other tribunal, on compliance or non
-compliance of the same. Accoidingly, clause (v) of the order is not applicable
In
respect of the company, the Central Government of India has not prescribed for the
maintenance of cost records under sub-section (l) of Section 148 of the Companies Act.
Accordingly clause vi of the order is not applicable.
explanations
!g us, and
i'=
appropriate authorities undisputed statutory dues including Employees' State Insurance, Provident
Fund,Income-tax, Sales-tax, Service-tax, Customs duty, Excise duty, Cess and any other material
statutory dues as applicable to it except in case of Vat of Rs.19,26,720 is outstanding.
S.no
Amount
Nature of Dues
Period
to
the
which
amount
relates
9,63,360
4,01,400
2014-15
2015-16
(b) According to the information and explanations given to us, there are no material dues payable
in respect of income tax, service tax, customs duty, excise duty and cess which have not been
deposited on account of any dispute other than the following:
Name of the
Statute
Nature of
the dues
Amount
no.
(Rs)
Period to which
the amount relates
AP
VATAct,
Value
Added Tax
Value
Added Tax
Value
Added Tax
Sales Tax
3,39,455
2007-08
High Court of AP
14,30,252
2006-07
High Court of AP
14,30,252
2005-06
High Court of AP
28,60,507
2004-0s
High Court of AP
Sales Tax
35,80,063
2003-04
High Court of AP
Sales Tax
14,30,253
2002-03
High Court of AP
Value
84,76,222
200s-06
Deputy Commissioner
(Appeals), Kerala
Value
Added Tax
61,50,244
2006-07
Deputy Commissioner
(Appeals), Kerala
Value
Added Tax
7,42,446
2007-08
Deputy Commissioner
(Appeals), Kerala
Value
Added Tax
8,52,280
2008-09
Deputy Commissioner
(Appeals), Kerala
The Kerala
Value
4,66,474
2009-10
VAT Rules,
Added Tax
Deputy Commissioner
(Appeals), Kerala
s.
2005
VATAct,
AP
AP VAT Act,
2005
2005
4
APGST Act,
APGST Act,
1957
1957
6
APGST Act,
The Kerala
VAT Rules,
1957
Added Tax
2005
The Kerala
VAT Rules,
2005
The Kerala
VAT Rules,
200s
l0
The Kerala
VAT Rules,
2005
l1
2005
vlll.
In our opinion and according to the information and explanation and given to us, the company has
not defaulted in repayment of loans or borrowings availed from financial institution, banks and
government. During the year the company has not issued
tr
lx.
The company did not raise the money by way of any initial public offer or further public offer
(including debt instruments) and term loans during the year. Accordingly, paragraph 3(ix) of the
order is not applicable.
According to the information and explanations given to us, no material fraud by the company or
on the company by its ofTicers or employees has been noticed or reported during the course of our
audit.
xl.
According to the information and explanations given to us, the company has paid / provided for
managerial remuneration in accordance with the requisite approvals mandated by the provisions
of sections 197 read with Schedule V to the Act.
xll.
In our opinion and according to the information and explanations given to us, the company is not
in Nidhi Company. Accordingly, paragraph 3(xii) of the order is not applicable.
xllt.
According to the information and explanations given to us, and based on our examination of the
records of the company, transactions with the related parties are in compliance with sections 177
and 188 of the Act where applicable and details of such transactions have been disclosed in the
financial statements as required by the applicable accounting standards.
xlv.
According to the information and explanations given to us and based on our examination of the
records of the company, the company has not made any preferential allotrnent or private
placement of shares or fully or partly convertible debentures during the year.
xv.
According to the information and explanations given to us and based on our examination of the
records of the company, the company has not entered into non cash transactions with directors or
persons connected with him. Accordingly, paragraph 3(xv) of the order is not applicable.
xvl.
The company is not required to be registered under section 45-IA of the Reserve Bank of India
Act 1934.
FoTNARVEN ASSOCIATES
Chartered Accountants
FRN:005905S
Place: Hyderabad
G.V.Ramana
Date: 28-05-2016
Membership No.025995
NARVEN ASSOCIATES
CHARTERED ACCOUNTANTS
The Company's management is responsible for establishing and maintaining internal financial
controls based on the internal control over financial reporting criteria established by the Company
considering the essential components of internal control stated in the Guidance Note on Audit of
Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants
of India ('ICAI'). These responsibilities include the design, implementation and maintenance of
adequate internal financial controls that were operating effectively for ensuring the orderly and
effiCient conduct of its business, including adherence to company's policies, the safeguarding of its
assets, the prevention and detection of frauds and errors, the accuracy and completeness of the
accounting records, and the timely preparation of reliable financial information, as required under the
Companies Act,20l3.
Auditor's Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial
reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit
of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on
Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act,
2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of
Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those
Standards and the Guidance Note require that we comply with ethical requirements and plan and
perform the audit to obtain reasonable assurance about whether adequate internal financial controls
over financial reporting was established and maintained and if such controls operated effectively in all
material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal
financial controls system over financial reporting and their operating effectiveness. Our audit of
internal financial controls over financial reporting included obtaining an understanding of internal
financial controls over financial reporting, assessing the risk that a material weakness exists, and
testing and evaluating the design and operating effectiveness ofinternal control based on the assessed
risk. The procedures selected depend on the auditor's judgment, including the assessment of the risks
of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis
for our audit opinion on the Company's internal financial controls system over financial reporting'
l1
(l) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the assets of the company;
(2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of
financial statements in accordance with generally accepted accounting principles, and that receipts
and expenditures of the company are being made only in accordance with authorizations of
management and directors of the company; and
reasonable assurance regarding prevention or timely detection of unauthorized
acquisition, use, or disposition of the company's assets that could have a material effect on the
financial statements.
(3) Provide
FoTNARVEN ASSOCIATES
Chartered Accountants
Membership No.:025995
Place: Hyderabad
Date: 28-05.2016
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Plot No.1 107, Road No.55,
Jubilee Hills, Hyderabad -
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TERA SOFT
Fedefning
,r Soluti@s
DECLARATION
Pursuant to Regulation 33(3)(d) of SEBI(Listing obligations and Disclosure
Requirements) Re gulations,20l5
It is hereby declared and confirmed that Auditor's Report on Annual Financial of the
Company is wittr urunodified opinion.
T.Gopichand
Vice Chairman &
Director
www.terasoftware.com