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Annual Report 2016-17
Consolidated onancial statements
Consolidated onancial statements of your Company and its subsidiaries as at March 31, 2017 are prepared in accordance
with the Indian Accounting Standard (Ind AS) 110 on ‘Consolidated Financial Statements’ notioed by the Ministry of
Corporate Affairs (MCA), and form part of this Annual Report.
Subsidiary Companies, Associate Companies and Joint Ventures
The details of the subsidiaries and associates of your Company as on March 31, 2017 are as under:
(In
`
Million)
Name of the Entity and
Country of incorporation
Status
Period of
Establishment/
Acquisition
Total Income
Net Proot/(Loss)
As on March
31, 2017
As on March
31, 2016
As on March
31, 2017
As on March
31, 2016
Persistent Systems Inc.,
USA
:holly Owned
Subsidiary
October 2001
15,387.30 10,390.71
238.67
169.15
Persistent Systems Pte.
/td., Singapore (Co. Reg.
No. 200706736G)
:holly Owned
Subsidiary
April 2007
427.49
377.67
72.99
79.48
Persistent Systems
France S.A.S., France
:holly Owned
Subsidiary
April 2011
389.14
366.05
11.55
30.79
Persistent Systems
Malaysia Sdn. Bhd.,
Malaysia
:holly Owned
Subsidiary
September
2013
548.42
542.97
62.54
(1.26)
Persistent Systems
Germany GmbH,
Germany
:holly Owned
Subsidiary
December 2016
-
-
(0.67)
-
Persistent Telecom
Solutions Inc.,
USA
Step-down
subsidiary
(:holly Owned
Subsidiary
of Persistent
Systems, Inc.)
January 2012
1,437.51
1,208.28
(156.13)
(104.35)
Akshat Corporation
(dba Rgen Solutions),
USA
Step-down
subsidiary
(:holly Owned
Subsidiary
of Persistent
Systems, Inc.)
July 2015*
253.91
405.51
28.03
28.33
Persistent Systems Israel
/td., Israel
Step-down
subsidiary
(:holly Owned
Subsidiary
of Persistent
Systems, Inc.)
February 2016
448.65
-
32.38
-
Persistent Systems
Me[ico S.A. de C.V.,
Me[ico
Step-down
subsidiary
(:holly Owned
Subsidiary
of Persistent
Systems, Inc.)
March 2016
139.11
-
6.08
-