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Annual Report 2016-17
Protectionism is being discussed and witnessed in various countries and we are ready to address the same. Focus is on
hiring of local talent and also enabling professional e[change programs for appropriate integration. Pursuing diverse
opportunities also e[poses the company to unfamiliar risks that many ond difocult to evaluate. :e have a robust model
to handle Global Compliance and Regulatory requirements and an e[haustive risk management process to address
operational risks those may prevail in any country or geography.
Risks and Concerns
The key risks faced by the business and the mitigation plan to address those risks are mentioned under the Risk
Management Report.
Internal Financial Control Systems and their Adequacy
The adequacy of the internal onancial control systems and procedures is discussed under the CEO and CFO certiocation
section of the Annual Report and the Directors’ report.
Financial position and results of operations
The consolidated onancial statements for the year ended March 31, 2017 have been prepared in accordance with
Ind AS. For periods up to and including the year ended March 31, 2016, the Company prepared its consolidated
onancial statements in accordance with statutory reporting requirements in India immediately before adopting Ind AS
(“the Indian GAAP”). On such transition to Ind AS, certain adjustments have been made to the comparative amounts
related to the onancial year 2015-16 in accordance with guidance given in Ind AS 101 – “First time adoption of Ind AS”.
The reconciliation of equity and proot after ta[ as per the Indian GAAP and as per Ind AS is presented in note 48 of
the consolidated onancial statements. The amounts considered in the Management Discussion and Analysis for the
onancial year 2016-17 and onancial year 2015-16 are as per Ind AS.
Persistent Systems /imited was listed on National Stock E[change of India /imited (NSE) and the BSE /imited (BSE) on
April 6, 2010.
The onancial statements of the Company have been prepared on an accrual basis and under the historical cost
convention e[cept for certain onancial instruments, equity settled employee stock options and initial recognition of
assets acquired under business combinations which have been measured at fair value. Historical cost is generally based
on the fair value of the consideration given in e[change for goods and services. The accounting policies are consistently
applied by the Company during the year and are consistent with those used in previous year e[cept for the changes
in accounting policies required to be made on adoption of Indian Accounting Standards notioed under the Companies
Act, 2013.
Financial performance summary:
Particulars
Unit
Financial Year
2016-17
Financial Year
2015-16
Growth
Revenue
`
Million
28,784.39
23,123.31
24.48%
Revenue
USD Million
429.01
351.65
22.00%
Earnings before interest,
depreciation, e[ceptional item
and ta[es
`
Million
4,653.47
3,915.08
18.86%
Proot Before Ta[
`
Million
4,006.73
3,696.91
8.38%
Proot After Ta[
`
Million
3,014.65
2,772.99
8.71%
Earnings Per Share (EPS)
(Diluted)
`
37.68
34.66
8.71%
Share Capital
The authorized share capital of the Company as at March 31, 2017 was
`
2,000.00 Million divided into 200 Million equity
shares of
`
10 each. The paid up share capital as at March 31, 2017 was
`
800.00 Million divided into 80 Million equity
shares of
`
10 each. (Previous year
`
800.00 Million divided into 80 Million equity shares of
`
10 each). There were no
changes in the authorized and paid up share capital during the year.