WEBVTT 1 "sudhir" (487237632) 00:00:00.000 --> 00:00:01.395 Okay. 2 "Srikanth Reddy - CDSL" (3485491968) 00:00:01.395 --> 00:00:06.854 So can you start the webcasting? Yep. 3 "Moderator- Atul" (410632704) 00:00:06.854 --> 00:00:08.114 I. 4 "Srikanth Reddy - CDSL" (3485491968) 00:00:08.114 --> 00:00:15.552 4321. Okay. 5 "sudhir" (487237632) 00:00:15.552 --> 00:00:25.935 Hello? Good. 6 "ANIRUDDHA MEHTA" (1293535488) 00:00:25.935 --> 00:00:28.113 Good Morning. 7 "Neela Manjunath" (712764416) 00:00:28.113 --> 00:00:31.153 Morning as the chairman of your company at. 8 "ANIRUDDHA MEHTA" (1293535488) 00:00:31.153 --> 00:00:54.050 The privilege in sharing this AGM. On behalf of the board of directors of the company, I extend a very warm welcome to all of you through this 40th annual general meeting and the 4th AGM of your company being held through video conference. The Ministry of Corporate Affairs and Cebi have permitted the companies to hold the AGM through video conferencing or other audio visual media. 9 "ANIRUDDHA MEHTA" (1293535488) 00:00:54.050 --> 00:01:16.830 Means till 30th of September 2024. Accordingly, the 40th AGM of your company is being held through video conferencing. I called the meeting to order as we have the requisite quorum present through VC to conduct the proceedings of this meeting. Participation of members through vcs being recorded for the purpose of quorum as per the circular issued by MCA. 10 "ANIRUDDHA MEHTA" (1293535488) 00:01:16.830 --> 00:01:35.430 And as per section 103 of the company's act 2013. This meeting is being held through VC in accordance with the circular issued by MCA and Sebi. MCA and seby circulars dispensed with the requirement of dispatched dispatching physical copies of notice and annual report. 11 "ANIRUDDHA MEHTA" (1293535488) 00:01:35.430 --> 00:01:51.330 2020 03:24 for this AGM. Hence, notice of this meeting along with the annual report has been sent electronically to all the members entitled to receive the same. I therefore ladies and gentlemen, with your permission, take the notice as the red. 12 "ANIRUDDHA MEHTA" (1293535488) 00:01:51.330 --> 00:02:07.590 Before starting the proceedings, let me introduce you all to the directors of your company and other participants attending today's AGM through VC. Misters Venkatesh, Independent Director Chairman of audit Committee of the company participating from Bangalore. 13 "ANIRUDDHA MEHTA" (1293535488) 00:02:07.590 --> 00:02:27.120 Madam Gaurie Anirud Meta non Executive Director of the company, participating from Bangalore. Mr. Sudhir Kumar Hasija, non Executive Director of the company participating from Bangalore. Madam Neela Manjunath, Independent Director and Chairman of the nomination and remuneration Committee of the company. 14 "ANIRUDDHA MEHTA" (1293535488) 00:02:27.120 --> 00:02:46.290 Participating from Bangalore. Dr. Raghu Nambia, Director of the company, participating from Bangalore. Madam Nicola Nilajri, Independent Director of the company, participating from Bangalore. Mr. Rangerajan G chief Financial Officer of the company, participating from Bangalore. 15 "ANIRUDDHA MEHTA" (1293535488) 00:02:46.290 --> 00:03:06.290 Mr. Krishna does CS chief Operating Officer of the company, participating from Bangalore. Mr. Venkatesh Sundaru company security and compliance officer of the company participating from Bangalore. I further acknowledge the participation of mr. Rammon Higdey representing myself's KSIR and company chartered accountants. 16 "ANIRUDDHA MEHTA" (1293535488) 00:03:06.290 --> 00:03:36.790 Statutory auditors participating from Bangalore and mr. Vijay Krishna Katie secretarial auditor participating from Bangalore. As the notice is already circulated to all the members, I take the notice of the meeting as read. I am sure that all of you have received the annual report and that you have studied the same. I now request mr. Venkatesh and the ru company secretary to provide general instructions to the members regarding the participation in this meeting. Venkatesh over to you. Thank. 17 "venkatesh" (1887382784) 00:03:36.790 --> 00:04:09.270 You sir, good morning dear members, the company has enabled the members to participate at the 40th AGM through the video conferencing facility provided by CDSL. In compliance with the applicable circulars issued by the Ministry of Corporate Affairs and Sabil. Members have been provided with the facility to exercise their right to vote by electronic means. Both through remote e voting and e voting at the AGM. In accordance with the provisions of company sect 2013 and Sabil listing regulations. The members joining the meeting through VC who do not. 18 "venkatesh" (1887382784) 00:04:09.270 --> 00:04:29.270 Already cast their votes by means of remote evoting may vote through e voting facility provided by CDSL. The company has appointed mr. Vijay Krishna Katie practicing committee secretary as a scrutinizer who will collate the voting results of the remote e voting and the and the evoting at the AGM for each of. 19 "venkatesh" (1887382784) 00:04:29.270 --> 00:04:47.519 The items as per the notice. Members are requested to refer the refer the additional information provided in the notes to the AGM notice. The list of directors and key manager person, the list of contracts or arrangements have been made available electronically for inspection by the members. 20 "venkatesh" (1887382784) 00:04:47.519 --> 00:05:03.149 During the AGM members seeking the inspection such documents can send their request to CS at.com. As the agent is being held through VC, the facility for appointment of proxies by the members was not available. 21 "venkatesh" (1887382784) 00:05:03.149 --> 00:05:21.752 Not applicable and hence the proxy register for inspection is not available. The company had requested members to register as speakers during the annual general meeting in case of any queries. Thank you very much. I hand over to chairman to continue with the proceedings. Thanks. 22 "ANIRUDDHA MEHTA" (1293535488) 00:05:21.752 --> 00:05:40.969 Thank you Venkatesh. The company has taken all the efforts feasible under the circumstances to enable members to participate and vote on the items being considered at the meeting. Dear shareholders. Today as we participate in this 40th annual general meeting of MRO tech, I warmly welcome each one of you. It is always a pleasure. 23 "ANIRUDDHA MEHTA" (1293535488) 00:05:40.969 --> 00:06:01.619 To connect with you all and although through virtual it is a privilege to be with you today. On behalf of the board of directors, I thank you for making the time to join us. Your trust and support over the last four decades have given us the confidence to push ourselves past challenges and complexities and deliver consistent value for you year after year. 24 "ANIRUDDHA MEHTA" (1293535488) 00:06:01.619 --> 00:06:21.619 Let me begin by giving you updates regarding our continued progress and efforts on existing business segments and a focus on ensuring growth in each of these segments. Real estate. Good news on this new segment of business. The company wishes to inform the shareholders that the property developed at Hebal Bangalore is. 25 "ANIRUDDHA MEHTA" (1293535488) 00:06:21.619 --> 00:06:45.059 Completely occupied and started generating lease rental revenue from April 2024. The company share of the building is let out to HDFC bank Limited and the Tata Group company along with others. All these prestigious and reliable tenants assure long term reliable rentals to the tune of about 16 cross per annum for the year 2020 04:25. 26 "ANIRUDDHA MEHTA" (1293535488) 00:06:45.059 --> 00:07:03.839 The company is making further forey into the real estate sector. We have taken up real estate development projects at Goa during the year, 2020 03:24, to increase the revenues in the ensuring years. In North Bangalore, we are in the process of acquiring a substantial parcel of land for development. 27 "ANIRUDDHA MEHTA" (1293535488) 00:07:03.839 --> 00:07:20.369 Which will bring huge profits and positive cash flows to the company. Project details and plans are being finalized. I bring to the table my own experience of 24 years in the real estate business and I'm confident of adding significant value to the company from this business. 28 "ANIRUDDHA MEHTA" (1293535488) 00:07:20.369 --> 00:07:38.069 The revenue from operations from real estate has more than doubled during the financial year 2020 03:24 as against the previous financial year 2223. Products. Products BU continues to be one of the focus areas for growth. 29 "ANIRUDDHA MEHTA" (1293535488) 00:07:38.069 --> 00:07:53.609 Over the past few years, we have been focusing on introducing new products to strengthen our product portfolio. MRO tech routers and switches are seeing a significant uptake both in the telecom broadband markets as well as in government sectors and the Indian railways. 30 "ANIRUDDHA MEHTA" (1293535488) 00:07:53.609 --> 00:08:13.609 As an Indian OEM, we have successfully leveraged the opportunities of the government policies of make in India and DOT trusted portal. We remain committed to local sourcing and indigenous development to the extent possible. As per DOT policy, your company has been approved as a DOT trusted source for telecom. 31 "ANIRUDDHA MEHTA" (1293535488) 00:08:13.609 --> 00:08:34.579 Products. A flagship routing and switching products have cleared the mandatory testing and certification norms of DOT and are TC certified. As on date, we have annual contracts with tier one isps and tsps like Tata Tele Services and Vodafone idea, as well as established broadband service provider. 32 "ANIRUDDHA MEHTA" (1293535488) 00:08:34.579 --> 00:08:54.419 The Providers for our switches and routers. Product development initiatives. They have informed last year about our plans to introduce network security products like unified Threat manager, UPM. Our product development team has done a stellar job in this area and introduced three variants of upns. 33 "ANIRUDDHA MEHTA" (1293535488) 00:08:54.419 --> 00:09:10.529 Post testing and qualification, we introduced the products to the market in Q3 2020 03:24. Despite the barriers to entry like new product, provenness established tier one competition et cetera, we have managed to break through and I'm happy to inform you. 34 "ANIRUDDHA MEHTA" (1293535488) 00:09:10.529 --> 00:09:30.529 That we have. Statewide area network wherein our utmiss are deployed across 300 locations of the union territory. The deployment was completed in record time by July of 2024. Our UTM has also been purchased by BSNL and deployed in one of the subsidiaries of. 35 "ANIRUDDHA MEHTA" (1293535488) 00:09:30.529 --> 00:09:53.879 Whole India limited and also soon inducted into the railways. We now intend to target this market more aggressively in this financial year and going forward in other years also and expect to see great growth augmentation from this network security vertical. Railway has always been an important market for our products. 36 "ANIRUDDHA MEHTA" (1293535488) 00:09:53.879 --> 00:10:09.179 We have been constantly upgrading the product line up for railway sector with improvements and additional features as per the user requirements. Consumptions of our switches and routers have increased in various signaling and surveillance applications across the railways. 37 "ANIRUDDHA MEHTA" (1293535488) 00:10:09.179 --> 00:10:24.779 We also have developed a TDMOIP device for a very large multinational defense system integrator. The device protocol type has cleared all user trials and minor changes are being carried out based on user inputs. 38 "ANIRUDDHA MEHTA" (1293535488) 00:10:24.779 --> 00:10:43.799 The device will serve as a network interface unit for a part of the main system which will be fielded in an upcoming defense tender. The product development itself shows the product development capabilities of your company. A winning bid will mean a significant order value and a foray into the defense market. 39 "ANIRUDDHA MEHTA" (1293535488) 00:10:43.799 --> 00:11:03.799 The products team continue to work closely with the marketing teams and the industry to introduce new products into the portfolio based on technology and market demand and also ensure that necessary compliances are being met. The company's product development roadmap covers IP based carrier routers, software defined WAN prompt. 40 "ANIRUDDHA MEHTA" (1293535488) 00:11:03.799 --> 00:11:21.029 Products. The turnover of the company under the segment products has increased during the year. Solutions. Your company is now a well recognized player, network systems integrator, and we are managing operating and maintaining five projects across India. 41 "ANIRUDDHA MEHTA" (1293535488) 00:11:21.029 --> 00:11:37.589 And have ensured a robust regular cash flow for your company. In 2020 03:24, we received a renewal order from BSNL for this eastern power distribution company Limited. Project involving maintenance and operation of 212 links. 42 "ANIRUDDHA MEHTA" (1293535488) 00:11:37.589 --> 00:11:52.739 Customer has accepted to replace Cisco routers with MRO tech Falcon router for the extended project, which is a confidence in our product from our company of BSNL and Repredesh. 43 "ANIRUDDHA MEHTA" (1293535488) 00:11:52.739 --> 00:12:09.929 This goes to show the confidence our customers have in our company products and SI capabilities. Besides this, as mentioned earlier, we have also won the swarm project with BSNL, where our udmiss, which I was a new product was inducted and deployed very successfully. 44 "ANIRUDDHA MEHTA" (1293535488) 00:12:09.929 --> 00:12:25.499 With this, it is worthwhile to note that your company will be operating 1200 links across the country with three network operations, centers using our own products and network management software. As part of our portfolio expansion. 45 "ANIRUDDHA MEHTA" (1293535488) 00:12:25.499 --> 00:12:41.939 We intend to enter into new areas of solution, delivery and managed network services, as well as cloud offerings. Coupled with SD one products, this will provide a larger scope of your company to secure new turnkey project businesses in network specified areas. 46 "ANIRUDDHA MEHTA" (1293535488) 00:12:41.939 --> 00:13:01.939 Your company stands on his promise to deliver. We have proven our ability to constantly innovate and introduce new products to deal with and ever changing technology landscape as well as government policies. Despite the various challenges we displayed a stute business strategy by way of diversification and local. 47 "ANIRUDDHA MEHTA" (1293535488) 00:13:01.939 --> 00:13:26.639 Innovation. The proof of which is seen in higher revenue and growth in all verticals. My special mention to our dedicated and highly professional team, ably led by our CEO Christian Das, who has a team have always wholeheartedly continued to the growth of the cut company. For over 40 years now, MRO Tech has earned the trust of the nation by building progress with responsibility. 48 "ANIRUDDHA MEHTA" (1293535488) 00:13:26.639 --> 00:13:43.859 We continue this legacy and our unrelenting focus on customers is a particular source of pride. To support our growth strategy, we have fostered a culture that focuses on achieving the highest level of performance. I'm grateful to my colleagues on board for the continued guidance and support. 49 "ANIRUDDHA MEHTA" (1293535488) 00:13:43.859 --> 00:14:02.699 Looking ahead, I'm fully confident that we have the right strategy to pursue real estate especially in Bangalore and Goa, our chosen place of work and also focus on enhancing our market through footprint as a trusted OEM and solution provider while delivering superior long term value to our shareholders. 50 "ANIRUDDHA MEHTA" (1293535488) 00:14:02.699 --> 00:14:22.699 Good day. Nothing would have been possible but for the relentless cooperation and support extended by the employees at all levels and the entire board on record for its appreciation for the same. As there are NO qualifications of. 51 "ANIRUDDHA MEHTA" (1293535488) 00:14:22.699 --> 00:14:49.199 Patients or comments in the independent auditors report in standalone and consolidated financial statements and in the secretarial audit report with the consent of the shareholders, we may take the independent auditor's report and secretarial audit report as read. The Board of directors has appointed mr. Vijay Krishna Katie practicing company secretary as the scrutinizer to supervise the e voting process. 52 "ANIRUDDHA MEHTA" (1293535488) 00:14:49.199 --> 00:15:07.409 Let me read out the items of business placed before this meeting, ordinary business to receive, consider and adopt the standalone financial statements of the company, which include the audited balance sheet as on March 31 2024. 53 "ANIRUDDHA MEHTA" (1293535488) 00:15:07.409 --> 00:15:27.409 The statement of profit and loss for the financial year ending as on the date and the cash flow statement together with reports of the board of directors and the statutory auditors there on. To receive, consider and adopt the audited consolidated financial statements of the company for the financial year ended 31st March 2020. 54 "ANIRUDDHA MEHTA" (1293535488) 00:15:27.409 --> 00:15:50.369 Before together with the report of the auditors there on. To reappoint mr. Sudhir Kumar Hasida holding double 0157168 director who retires by rotation and being eligible offers himself for the appointment. Special business. Appointment of mr. dr. Raghu Nambier as a director and as an independent director. 55 "ANIRUDDHA MEHTA" (1293535488) 00:15:50.369 --> 00:16:10.369 Reappointment of Misters Venkatesh as an independent director. Reappointment of miss Nicola Niladri as an independent director. To consider and increase the borrowing powers of the board of directors of the company, to consider and approve the powers of hypothetication charging and mortgaging of the assets of the company. 56 "ANIRUDDHA MEHTA" (1293535488) 00:16:10.369 --> 00:16:30.709 To reappoint of Mr. Meta holding double 0720504 as the chairman and managing directors of the company. To approve the revision in overall remuneration of Mr. Meta Din double 0720504 as chairman and managing director of the company. 57 "ANIRUDDHA MEHTA" (1293535488) 00:16:30.709 --> 00:16:50.809 If any member desires to ask any question pertaining to any item on the notice, he or she may do so now by clicking the right hand button on the chat function. Members are requested to keep their questions brief and specific. The moderator or representative from CDSL will facilitate questions on the video feature. 58 "ANIRUDDHA MEHTA" (1293535488) 00:16:50.809 --> 00:17:10.619 Members may also note that the company reserves the right to limit the number of members asking questions depending on the availability of time. Members are requested to mention their name and their portfolio ID or client ID before asking their questions. In the interest of time, consolidated reply will be given at the end. 59 "ANIRUDDHA MEHTA" (1293535488) 00:17:10.619 --> 00:17:28.619 I shall request our CFO and company secretary to take down the questions, if any, and furnish replies, explanations and observations to the members. I shall now request the moderator to give his general instructions to the members who are present, who wish to seek clarifications one by one. 60 "ANIRUDDHA MEHTA" (1293535488) 00:17:28.619 --> 00:17:33.576 Over to you, moderator. 61 "Srikanth Reddy - CDSL" (3485491968) 00:17:33.576 --> 00:17:42.111 One speaker, but he's not present in the meeting, so request you can go ahead, so. 62 "ANIRUDDHA MEHTA" (1293535488) 00:17:42.111 --> 00:18:04.319 Thank you for your questions and greetings and it appears that the question asked the person is not available to carry on the same. Members who are yet to vote are now requested to cast their votes using the e voting facility of CDSL. E voting facility will be available for 30 more minutes from the conclusion of this AGM. 63 "ANIRUDDHA MEHTA" (1293535488) 00:18:04.319 --> 00:18:23.639 The results of the remote e voting and the e voting during the AGM will be declared on receipt of the scrutinizer's report and placed on the company's website and sent to the stock exchangers. A year by authorized mr. Rangerajan CFO or mr. venkatesh's company secretary to receive the scrutinized report. 64 "ANIRUDDHA MEHTA" (1293535488) 00:18:23.639 --> 00:18:42.599 And place the same accordingly on the website. Now that the proceedings of this AGM have been completed, on behalf of the board of directors, I thank you all for your active participation in this meeting. A year by declare the proceedings of this 40th AGM has closed. 65 "ANIRUDDHA MEHTA" (1293535488) 00:18:42.599 --> 00:19:01.739 Thank you very much dear members and see you next year. The e boating can now commence. 66 "VIJAYAKRISHNA KT" (2142645504) 00:19:01.739 --> 00:19:05.952 Okay stop the recording. Thanks to.