KEY ECONOMIC AND INDUSTRY TRENDS
At the beginning of the COVID-19 pandemic, everybody thought it would be over in six
months if we could just hang in there. But what became very true, very quickly, was that
this is not a short haul, its a long haul - and that we were going to have to
fundamentally rethink what work means, where work is done and how we lead work in a
different environment.
The boundaries that were once assumed to be the natural order of things - that work can
be organized into clearly defined processes; jobs can be categorized and contained wholly
within the organization; work occurs within the four walls of the workplace; and
organizations can center their decision-making around shareholders and the bottom line are
falling away. The implication for organizations is that they are traversing a new
landscape as they lose those traditional boundaries that kept things packaged and orderly,
and gain permission to experiment, pilot, and innovate to define new fundamentals.
Similarly, for workers, the rules of engagement with organizations are shifting, opening
doors for greater and more meaningful collaboration and co-creation with the organization.
Human instinct is to feel overwhelmed or hesitant as boundaries fall away; in this
years survey said their greatest barrier to achieving organizational outcomes is being
overwhelmed by too many changes at once. However, the dissolution of boundaries creates
new opportunities for organizations and workers who are prepared to show up in
fundamentally different ways. This means no longer simply reacting to stimulus in the
marketplace by deploying new strategies against the categories and boundaries of the past.
Instead, organizations and workers should challenge prior assumptions and adopt a new set
of fundamentals built for a dynamic, boundaryless world rather than the stable,
compartmentalized one we are leaving behind.
These new fundamentals require organizations and workers to frame the challenge
differently, thinking like a researcher in how they approach their business and workforce
strategies, treating every new roadblock as an exciting experiment from which they can
learn, adapt, and improve. They call on organizations and workers to chart a different
path, co-creating their relationship in pursuit of new and evolving purpose, innovation,
and re-imagination. And they require organizations and workers to design for impact,
prioritizing human outcomes and approaching strategies from a human lens for humans and by
humans.
New leadership capability is needed at all levels of the organization to mobilize
workers and teams for achieving new outcomes. Yet only 23% of organizations in the
Deloitte 2023 Global Human Capital Trends survey say their leaders have the capabilities
to navigate a disrupted world. They point to concerns about leaders ability to manage the
evolving workforce, with less than 15% of organizations saying their leaders are very
ready to inclusively lead an expanding workforce or to consider broader societal and
environmental risks when making workforce decisions. They also express concerns about the
design and execution of work itself: Only 16% say their leaders are very ready to use
technology to improve work outcomes and team performance, and only 18% say their leaders
are very ready to develop the right workplace model for their organization.
(Source: Survey Deloitte Global Human Capital Trends 2023)
Staffing industry has witnessed a sea change in its functioning. This growth and
transformation have been rapid over the past decade, eventually emerging into a more than
6-billion-dollar industry. The transformation has changed top players from being manpower
service providers to manpower solutions providers, addressing end-to-end HR requirements.
Also, digitalization has brought shift in staffing process. Several digital platforms like
Upwork, Shifting etc. have appeared on the horizon, has helped the job seekers and the
end-users. This shift will challenge the traditional staffing companies, if they dont
adapt to the new ways. Added to it the pandemic has mechanised the ways of working. Again
technology has come to the rescue, enabling employees to work from anywhere.
In the staffing and recruitment industry, "Time is Money", as this is a Human
Capital business,
Staffing agencies have shifted gear towards data-driven recruitment to match the
expectations from clients post Pandemic. Return to- work plans by many organisations &
implementation of Hybrid model, we can expect huge growth on a steady incline in 2023,
offering more opportunities for both long-term and gig work.
BUSINESS SEGMENT:
The Company is offering integrated service delivery model includes a wide range of
services such as mentioned below:
- FMS, Housekeeping Services
- Security Services,
- Property Management Services,
- Office Support Services
- M&E Services
- Pest Control Services
- Disinfection Services and Customer Support
- Health, Safety and Environment
- Management Services
- MIS Reporting
- Electro Mechanical Services and Management
- BMS/Fire Alarms and Security Management
- Vendor Management
- Workplace Facilities Management
- General Repairs and Maintenance
- Business Continuity Planning Management
We add value to our customers organization by letting them concentrate on their core
business competencies while we manage and deliver a top-notch Integrated services across
India, creating a win-win situation! With over 12+ years of domain expertise and in-depth
understanding of industry standards and practices, we provide a complete solution
to cater to the growing needs of organization.
As a globally recognized workforce management services provider, we offer end-to-end
HRO services that are aimed at solving complex HR challenges. From customized staffing
services, expert talent acquisition, search and recruitment, payroll compliance, training
and skill development, to managed workforce solutions, Caspian Services provides all the
tools necessary to drive your business growth.
BUSINESS SERVICES
WORKFORCE MANAGEMENT
As a globally recognized workforce management services provider, we offer end-to-end
HRO services that are aimed at solving complex HR challenges. From customized staffing
services, expert talent acquisition, search and recruitment, payroll compliance, training
and skill development, to managed workforce solutions, Caspian Services provides all the
tools necessary to drive your business growth.
STAFFING SOLUTIONS
Caspian Services Staffing, caters to some of the biggest brands in the country. Our
proven track record of delivering world-class staffing solutions enables us to oversee the
entire recruitment process from assessing candidates to recruitment while reducing the
cost of staffing. Our skilled workforce, efficient operations, and commitment to
excellence have made us the go-to company for staffing solutions in India be it for
customized retail requirements or temporary staffing solutions.
IT STAFFING
Our approach towards hiring the best IT talent enables us to find prospective employees
who share the vision of the companys overarching goals and objectives making us one of
the most sought after and largest staffing firms in the country. With our up-skilling
services, we train the organizations workforce to effectively meet industry challenges.
HEALTH SERVICES
We influence and enhance the talent-hiring of the healthcare industry by providing
premium staffing services to organizations seeking quality talents. In collaboration with
the Association of Healthcare Providers India (AHPI), we formalise training and staffing
services for healthcare professionals and create a marketplace for both public and private
institutions to source competitive talents meeting their organizational goals quickly and
on-demand.
Leveraging our extensive experience of our Hire-Train-Deploy model, we help
institutions create a pipeline of trained paramedical and healthcare professionals in
addition to developing a digital talent pool of skilled, experienced doctors across India
who are ready to be hired. Our process involves a deep understanding of the institution
and its culture to find the right match of skills and expertise needed for its success.
FACILITY MANAGEMENT
Our Facility Management services team uses a combination of technology, engineered
processes, and skilled human resources to efficiently manage for our clients.
We have built a technology platform to streamline our service delivery and operations
across India with 4700+ employees.
o Housekeeping and Janitorial Services
o Horticulture
o Waste Management Services
o Facade Cleaning
o Guest House Management
o Pantry Management
PAYROLL MANAGEMENT
Payroll management by the company is much of a time consuming if there are fewer
resources. Therefore the majority of the companies consider outsourcing for their
payroll-related task.
Caspian Corporate Services ensures an error-free payroll process. All the payroll
related job is handled by our professionals. We help you in eliminating the burden of
payroll management. We also ensure you to re-deploy resources and to focus on other
critical business activities that can boost your companys growth and build competitive
advantage.
FRONT OFFICE MANAGEMENT
Front office management has been defined as the managing the major departments of an
organization like sales staff, customer service staff etc. who generally come in contact
with the customers. We swear by and our professionals will do everything to set a good
first impression to visitors.
The first point of contact leaves an excellent, lasting impression and reflects the
culture of our clients organization.
o Welcome the customers/guests
o Giving the required and crisp information
o Handling the arrival and departure register.
o Handling complaints and also resolving them
o Taking care of payment collection (if required)
o Coordination with various linked departments
o Keeping a record of guests (profile) for future use
SKILL DEVELOPMENT
As a Category a Implementation Agency, we believe in going the extra mile towards
Empowering youth with focused attention to Women Empowerment through our interventions.
We take pride in an extensive network of Women-centric Training Centers spread across
the country. The majority of our enrolled beneficiaries comprises of female candidates and
we put in our best efforts into making the journey of Financial Freedom and Self-reliance
for Women a bright and shining example for many others to follow.
We believe in Educating beyond the curriculum and Making an Impact as we go! Special
initiative conducting Blood donation camps, Iron pills and Sanitary napkin distribution
along with free medical check-up are organized on regular basis. We believe that wholesome
development of the candidates calls for healthy body, mind and spirit. Along with the
medical assistance, we set in place multiple channels for extracurricular activities and
exposure for our trainees. Early on in the training programs, the candidates are made
aware of the major issues that have environmental, social and economic implications in the
current times. We conduct multiple road shows and awareness sessions to encourage the
candidates.
GROUND HANDLING
Caspian Corporate Services has entered into Airport Ground Handling. We are providing
quality services at all airports of India. Timely and efficient ground handling services
reduce delay and enhance on time performance.
We take pride in an extensive network of Women-centric Training Centers spread across
the country. The majority of our enrolled beneficiaries comprises of female candidates and
we put in our best efforts into making the journey of Financial Freedom and Self-reliance
for Women a bright and shining example for many others to follow.
We offer a complete range of services for all type of aircrafts.
o Passenger Handling
o Cargo Handling
o Ramp Handling
o Loading and unloading of aircraft
o Pushback and towing
o Marshaling
o Crew support
o Flight documentation and planning
STRENGTH AND WEAKNESSES:
STRENGTH:
One-stop-shop for multiple services
Comprehensive expertise
Strong team of experts
Industry-specific knowledge
Strong technical team
Enhanced problem-solving
WEAKNESSES:
Competition
Resistance to change
High cost
Time-consuming engagements
Few Local players at times disturb regular business flow through offering of notional
benefits to the customers.
OUTLOOK Staffing Services:
HR leaders are realizing the advantage of hiring a contract workforce as this gives
them the flexibility to scale their workforce as per project requirements. Thus, shedding
the conventional form of hiring practices and relying on Staffing Companies to meet their
manpower demands.
Now, the IT workforce is changing, especially considering the pandemic. A contingent
work force is the solution to todays workplace problems. The IT staffing industry is
constantly evolving and changing to meet todays work requirements and standards.
STRATEGIC RESPONSES TO OPPORTUNITIES AND THREATS
| OPPORTUNITY / THREAT |
COMPANYS APPROACH |
| Competition |
Our Company faces significant competition from other companies operating in the
markets in India as well as overseas in which we operate. Some of these firms have greater
resources and/or a more widely known brand than we have, which may give them a competitive
advantage. |
|
Although we have satisfactory business relations with our clients and have received
continued business from them in the past, there is no certainty that the same will
continue in the years to come and may affect our profitability. |
| Growth in the Indian economy |
General economic conditions in India have a significant impact on our results of
operations. |
|
The Indian economy has grown rapidly over the past decade and is expected to continue
to grow in the future. We believe growth in the overall economy has driven, and will
drive, the underlying demand for our products. |
| Fluctuations in demand for our services |
Supply and demand market conditions are affected by various factors outside our
control, including: |
|
• Prevailing local economic, income and demographic conditions and changes in
applicable regulatory schemes |
RISKS AND CONCERNS:
There are a set of risk factors which have been evaluated. This includes competition,
pricing and margins, investment rationale on products, country of export as all of these
contribute to key decision making. A balance in contribution from countries, products and
key accounts has thereby been assessed, with proper adherence to ever changing regulatory
and environment, health and safety norms.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:
The Company has adequate systems of Internal Controls commensurate with its size and
operations to ensure orderly and efficient conduct of business. These controls ensure
safeguarding of assets, reduction and detection of fraud and error, adequacy and
completeness of the accounting records and timely preparation of reliable financial
information.
FINANCIAL PERFORMANCE:
The discussions in this section relate to the Rupee-denominated financial results
pertaining to the year that ended March 31, 2023. The financial statements of CASPIAN
CORPORATE SERVICES LIMITED (Formerly known as Intellivate Capital Advisors Limited) are
prepared in accordance with the Indian Accounting Standards (referred to as ‘Ind AS)
prescribed under section 133 of the Companies Act, 2013, read with the Companies (Indian
Accounting Standards) Rules, as amended from time to time. Significant accounting policies
used in the preparation of the financial statements are disclosed in the notes to the
consolidated financial statements. The following table gives an overview of the financial
results of the company:
Financial Highlights Standalone Basis:
During the year under review, the company has achieved revenue from operations of Rs.
1,10,58,000/- and incurred profit amounting to Rs. 44,94,000/- as compared to the previous
Financial Year 2021-2022 where the Revenue from Operations was Rs. 1,10,00,000/-and Profit
after tax was Rs. 50,49,000/-. The Basic and Diluted Earnings per share of the company as
on 31st March, 2023 stands at Rs. 0.1425/-.
Consolidated Basis:
During the year under review, the company has made 100% acquisition in M/s. Sumathi
Corporate Services Private Limited; one of its group companies; on 16th March, 2023.
Accordingly, this years financial statements are prepared on a consolidated basis (i.e.
including the financials of its subsidiary and associate companies). Thus, companys
revenue from operations on consolidated basis stood at Rs. 1,10,58,000/- during the year
under review. The operating profit before tax on consolidated basis stood at Rs.
64,14,000/- during the year under review. The net profit for the year on a consolidated
basis stood at Rs. 43,99,000/- during the year under review. The Basic and Diluted
Earnings per share of the company as on 31st March, 2023 stands at Rs. 0.1395/-.
Or below charts
(I) Total Income
(On Standalone Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
39,60,000 |
| 2021-2022 |
1,21,89,000 |
| 2022-2023 |
1,36,36,000 |
(On Consolidated Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
0 |
| 2021-2022 |
0 |
| 2022-2023 |
1,36,36,000 |
(II) Profit before Tax (PBT)
(On Standalone Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
20,54,000 |
| 2021-2022 |
68,51,000 |
| 2022-2023 |
65,09,000 |
(On Consolidated Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
- |
| 2021-2022 |
- |
| 2022-2023 |
64,14,000 |
(III) Profit for the year
(On Standalone Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
15,20,000 |
| 2021-2022 |
50,49,000 |
| 2022-2023 |
44,94,000 |
(On Consolidated Basis)
| Financial Year |
(In Rs.) |
| 2020-2021 |
- |
| 2021-2022 |
- |
| 2022-2023 |
43,99,000 |
DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS
| Particulars |
2022-23 |
2021-22 |
| Debtors Turnover Ratio |
|
|
|
1.17 |
5.03 |
| Inventory Turnover Ratio |
NA |
NA |
| Interest coverage ratio |
NA |
NA |
| Current Ratio |
|
|
|
0.55 |
12.98 |
| Debt Equity Ratio |
NA |
NA |
| Operating Profit Margin |
|
|
|
0.59 |
0.62 |
| Net Profit Margin |
|
|
|
0.41 |
0.46 |
| Return on Net worth |
|
|
|
0.02 |
0.11 |
| P/E Ratio |
|
|
|
110.62 |
37.03 |
HUMAN RESOURCES AND INDUSTRIAL RELATIONS
Your Company has undertaken certain employees development initiatives, which have very
positive impact on the morale and team spirit of the employees. The Company has continued
to give special attention to Human Resources/Industrial Relations development. Industrial
relations remained cordial throughout the year. We are also concentrating on building up
of our Human Resource Capital especially in our Sales Team by undertaking various R& D
activities. We are also creating adequate support systems at our HO which will provide
requisite knowledge and data to our sales team. These activities will lead to a more
informed and motivated sales team.
CAUTIONARY STATEMENT
Statement in this Management Discussion and Analysis Report, describing the Companys
objectives, estimates and expectations may constitute ‘Forward Looking Statements
within the meaning of applicable laws or regulations. Actual results might differ
materially from those either expressed or implied.
|
For and on behalf of CASPIAN CORPORATE SERVICES LIMITED |
|
|
(Formerly known as Intellivate Capital Advisors Limited) |
|
|
SD/- |
SD/- |
|
SUKUMAR REDDYGARLAPATHI |
SAMPATH RAO NEMMANI |
|
MANAGING DIRECTOR |
DIRECTOR |
|
DIN: 00966068 |
DIN: 07999868 |
| Place: Telangana |
|
|
| Date: 30/08/2023 |
|
|
+91-9892691696
