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• Annual Report 2018-19
Shaping the future of software driven business
• Bhageerath, Pune: EPI 171 – Received 2-Star Rating.
• Aryabhata-Pingala, Pune: EPI 190 – Received 1-Star Rating.
All the facilities of your Company in India are certified by DNVGL for ISO 14001:2015 and are upgraded to Occupational Health
and Safety Management System Standard by ISO 45001:2018 certifications after rectification audit (January 2019) and are
now initiated. Best practices to preserve the environment/health and safety are undertaken by your Company even during
constructing its various premises by using crush sand, fly ash bricks and double glass unit, use of gypsum and recycled wood
to protect the environment.
Also, all the facilities of your Company in India are certified by AGS for ISO 14064-1:2006 Greenhouse gas inventory and
achieved reduction of 6.87% against target of 3%.
It is your Company’s constant endeavor to conserve and save the environment and hence your Company has launched the
Green Persistent Movement to support the same. As power cost constitutes an insignificant part of the total expenses, the
financial impact of these measures is not material.
Other ISO Certifications
The details about the other ISO certifications for technical processes and systems are provided in the Annexure F to this Report
and which forms an integral part of this report.
The particulars of expenditure on Research and Development on an accrual basis are as follows:
(In
`
Million)
Particulars
Year ended on March 31
2019
2018
Capital expenditure
0.46
-
Revenue expenditure
182.35
281.99
Total research and development expenditure
182.81
281.99
As a percentage of total income
0.89%
1.52%
The particulars of foreign exchange earnings and outgo based on actual inflows and outflows are as follows:
(In
`
Million)
Particulars
Year ended on March 31
2019
2018
Earnings
20,488.65
17,722.02
Outgo
6,281.03
4,858.47
Adequacy of Internal Financial Controls
The Board is responsible for establishing and maintaining adequate internal financial control as per Section 134 of the Act.
The Board has laid down policies and processes in respect of internal financial controls and such internal financial controls were
adequate and were operating effectively. The internal financial controls covered the policies and procedures adopted by your
Company for ensuring orderly and efficient conduct of business including adherence to your Company’s policies, safeguarding
of the assets of your Company, prevention and detection of fraud and errors, accuracy and completeness of accounting records
and timely preparation of reliable financial information.
Internal Audit
Your Company has an in-house internal audit team since 2005 and comprises of personnel with professional qualifications and
certifications in audit and is rich on diversity. The audit team hones its skills through a robust knowledge management program
to continuously assimilate the latest trends and skills in the domain and to retain the knowledge gained for future reference
and dissemination.
The Head of Internal Audit team reports to the Chairman of the Audit Committee and is a permanent invitee to the quarterly
meetings of the Audit Committee and the Risk Management Committee. Findings of the audits are presented to the Audit
Committee at its quarterly meetings.
The function provides an independent, objective assurance and consulting services to value-add and improve Operations
of Business Units. The audits carried out through-out the year, are based on an internal audit plan, which is reviewed and