Bharatiya Global Infomedia Ltd Management Discussions.
The Financial Statements of the Company have been prepared in accordance with Generally
Accepted Accounting Principles in India as these financial statements to comply with all material aspects with the accounting standards notified under the Companies Act, 2013. The management accepts responsibility for the integrity and objectivity of these financial statements, as well as for various estimates and judgments used therein.
The estimates and judgments relating to the financial statements have been made on a prudent and fair manner the form and substance of transactions, and reasonably present the state of affairs, profile and cash flows for the year ending 31st March 2019.
INFORMATION TECHNOLOGY (IT) INDUSTRY & ITS FUTURE
The Information Technology & Information Technology Enabled Services (IT-ITeS) sector is a field which is undergoing rapid evolution and is changing the shape of Indian business standards. This sector includes software development, consultancies, software management, online services and business process outsourcing (BPO).Indias IT & ITeS industry grew to US$ 181 billion in 2018-19. Exports from the industry increased to US$ 137 billion in FY19 while domestic revenues (including hardware) advanced to US$ 44 billion.Spending on Information Technology in India is expected to grow over 9 per cent to reach US$ 87.1 billion in 2018; Revenue from digital segment is expected to comprise 38 per cent of the forecasted US$ 350 billion industry revenue by 2025.
Key drivers of growth in the IT sector
Supportive government policies including Government established SEZs and tax advantages
Availability of technically skilled low cost manpower
Rapid introduction of IT technologies in major sectors such as telecom, BFSI, e-health/ education.
Strong growth in export demand
use of new technologies like cloud computing and online portals (IoT & AI)
Major initiatives taken by the government to promote IT and ITeS sector in India are as follows:
The government has identified Information Technology as one of 12 champion service sectors for which an action plan is being developed. Also, the government has set up a Rs 5,000 crore (US$ 745.82 million) fund for realizing the potential of these champion service sectors.
As a part of Union Budget 2018-19, NITI Aayog is going to set up a national level programme that will enable efforts in AI^ and will help in leveraging AI^ technology for development works in the country.
In the Interim Budget 2019-20, the Government of India announced plans to launch a national programme on AI and setting up of a National AI portal.
National Policy on Software Products-2019 was passed by the Union Cabinet to develop India as a software product nation.
About 200 Indian IT firms are present in around 80 countries.
IT exports from India are expected to reach highest ever mark of US$ 126 billion in 2017-18.
Highest ever revenue was generated by Indian IT firms at US$ 181 billion in 2018-19
India is the topmost off shoring destination for IT companies across the world. Having proven its capabilities in delivering both on-shore and off-shore services to global clients, emerging technologies now offer an entire new gamut of opportunities for top IT firms in India. Export revenue of the industry is expected to grow 7-9 per cent year-on-year to US$ 135-137 billion in FY19. The industry is expected to grow to US$ 350 billion by 2025 and BPM is expected to account for US$ 50-55 billion out of the total revenue.
BHARATIYA GLOBAL INFOMEDIA LTD (BGIL) is a company into Information Technology & IT based products with a focus on R&D. It has spent last few years into innovative path-breaking solutions in and around RFID & Smart Card technologies by using ARTIFICIAL INTELLIGENCE (AI). The appellant companys most of the products are IoT (Internet of Things); Its range of offerings includes products/services around Digital/Electronic Security & Surveillance, Enterprise Process Automation, Embedded Computing Applications, Consulting and System Integration & Design. Bharatiya Global Infomedia Limited (BGIL) is one of the top most company providing turn-key based solutions mainly catering to Smart Cities including all major sectors or industries viz. Road & Transportation, Infra &Building, Health & Medical,
Defense, Security & Surveillance etc. Bharatiya Global Infomedia Limited (BGIL), owns 18 registered IPR (Intellectual Property Rights), a leading company in following segments:
|Smart City Traffic Solutions||Smart Enterprise Solutions|
|Parking Management System (PMS)||Smart Campus|
|Parking Guidance System (PGS)||Visitor Management System|
|Toll Management System||Canteen Management System|
|Automatic Number Plate Recognition System||Asset Tracking System|
|Under Vehicle Surveillance System||Laptop Tracking System|
|Ticket Dispensing System||File Tracking System|
|Automatic Payment Station (APS)||Lighting Management System|
|Fleet Management System||Event Management System|
|City Bus Surveillance system||Employee Tracking System|
|CCTV & Auto Surveillance||Time-Attendance System|
|Boom Barrier, Access Control||Library Automation & Management System|
|Pedestrian Access Control System||Student Information System|
|Perimeter Fencing etc||Smart School Management System|
|No Parking based e- Parking system||Pilgrimage Management System|
|E-Challans system||Smart Home Automation|
|Ticketing Kiosks||Hospital Management System|
|Jewellery Management System|
R & D/ New Products/Solutions
The company continues to expand its product/solution portfolio and consolidate its existing product(s) range by using ArtificialIntelligence (AI) & Internet of Things (IOT) so as to meet changing requirements of the clients and upgrading technologies.
With a list of 46 products range BGIL is a true Product based company having 18 IPRs into Applications related to automation of Security, Surveillance & Safety, Communication (Mobile Applications).
BGIL has a top ranking clientele which includes Fortune 500 companies, having successfully delivered more than 370 projects till date including few first one of its kind projects in India. During the period BGIL upgraded its various IT Products and started the focus on new emerging Industries like Medical & Science, Education & Transportation.
Company has been continuously building up its strong presence by enhancing relationship with leading Global System Integrators and corporate etc., BGIL has been successfully maintaining it perforation with all its clients like BHARTI AXA LIFE INSURANCE, DHFL Pramerica Life Insurance, IFFCO-TOKYO, Price Water House (PWC)-Pan India, Airtel-New Delhi, Alight-Noida MSKJV, Honeywell, Adobe- NOIDA & Bangalore, Reliance, Chandigarh Transport Undertaking (CTU),Peoples Scou, Aurionpro Solutions and also value like new extended projects Viz. Lodha-Capacity-The Park, Infosys, Honeywell Automation, Siemens, Schneider, Hindustan Uni-Lever (Siemens),,DMH,All India Institute of Medical Sciences, Medanta & Fortis Hospitals, AON-Hweitt-Pan India, Resort-Nakhrali-Dhani, Mahagun-Noida etc.
Marketing and proposed marketing set-up:
The Management continues to look for new technologies and newdiversificationareas so as to broaden its portfolio of products to add on new growing segment like Home Automation, Infra and City Surveillance, Smart Cities concepts and Consultants etc
As a result of new client acquisitions in various segments year by year we are managing client relationships and business development through targeted interaction with client organization. We have own marketing office at Noida and Mumbai and representative offices in Eastern &South Region. Our marketing initiatives are constant to increase awareness of our activities. In addition, we have several technology alliances with leading IT vendors which typically involve systems integration and in certain cases joint marketing efforts. The company has got 19 Products IPRs registered till date as follows:
|Product Name||Product Name|
|BGIL Toll Management Systems||BGIL Laptop Tracking System|
|BGIL Canteen Management System||BGIL Intelligent Mast Controller|
|BGIL Ticket Dispensing System||BGIL File Tracking System|
|BGIL Tokenless Two Factor Authentication System||BGIL Visitor Management System|
|BGIL Asset Tracking System||BGIL Food Court Management System|
|BGIL Employee Tracking System||BGIL Club Management System|
|BGIL Automatic Number Plate Recognition System||BGIL Student Information System|
|BGIL Parking Management System||BGIL Library Automation & Management System|
|BGIL Smart Campus System||BGIL Jewelry Management System|
|BGIL Parking Guidance System|
A. OPPORTUNITIES AND THREATS:
The fast growth in the population density in urban areas demands more facilities and resources. To meet the needs of city development, the use of Internet of Things (IoT) devices and the smart systems is the very quick and valuable source. However, thousands of IoT devices are interconnecting and communicating with each other over the Internet results in generating a huge amount of data, termed as Big Data. To integrate IoT services and processing Big Data in an efficient way aimed at smart city is a challenging task. Therefore, we proposed a system for smart city development based on IoT using artificial Intelligence (AI) & Big Data Analytics. We use sensors deployment including smart home sensors, vehicular networking, weather and water sensors, smart parking sensor, and surveillance objects, etc. IT sector is cognizant of risks and uncertainties which are managed proactively through risk mitigation processes and strategies. Recently, our company is experiencing a constant delay of realization of receivables from valued clients and non-flexibility of existing financial facilities though the work and order position/opportunism in market are huge.
B. PERFORMANCE AND OUTLOOK:
BGILs reported record consolidated revenue of INR 3145.18 Lakhs during the year 2017-18 as against revenue of Rs. 3682.86 Lac for the 2016-17; Net consolidated Profit during the year 2017-18 is Rs 15.08 Lakhs and Total Comprehensive Income for the period is INR 7.16 Lakhs. The consolidated shareholders funds as at March 31, 2016 amount to Rs.911.75 Lac.
RISK AND MANAGEMENT PERCEPTION
The Company faces general risk inherent in any business including political, legal, geographical, economical, environmental etc. and takes appropriate steps to mitigate them and reduce their impact to the extent possible. The Company has continued its drive towards stringent cost cutting measure and adopted continuous review of its activities.
C. INTERNAL CONTROL SYSTEM:
The Company remains committed to maintain internal control systems and procedures designed to provide reasonable assurance for orderly and efficient conduct of business and security of its assets and for preventing their unauthorized use or disposition and detecting frauds or irregularities, if any. The Company has laid enormous significance to develop internal control systems relating to all aspects of the business and has well-documented Operational Plans & Policies which are key to any organization for operational efficiency at all levels.
E. INDUSTRIAL RELATION/HUMAN RESOURCE MANAGEMENT
Industrial relations remained cordial and harmonious during the period under review.
F. STATUTORY COMPLIANCE
As the Company is proposing new initiatives, therefore, the management is in the process to comply all statutory requirements of the Companies Act, 2013 and other applicable laws, Rules & Regulations. The company has always strived towards compliance of all statutory requirements.
G. FINANCIAL MANAGEMENT
The management has new vision & style relating to financial aspect & managing funds. Therefore, the management is making plan to control & enhance the business, financial strength of the Company. The Company has a financial management information system in place, which involves preparation of a detailed business plan for the current year & next year.