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S10-110 exam Dumps Source : SNIA Certified Storage Professional (SCSP)
Test Code : S10-110
Test name : SNIA Certified Storage Professional (SCSP)
Vendor name : Snia
: 65 true Questions
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SNIA Certified Storage Professional (SCSP)
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ORLANDO, FL--(Marketwired - Apr 2, 2013) -
Follow SNIA Education developments at:
The Storage Networking Industry Association (SNIA) today announced offerings and enhancements to its industry-leading educational program. SNIA is recognized for having one of the world's most robust set of independent training, tutorial and educational resources in the worldwide storage industry. At SNW Spring 2013, the SNIA will present 20 SNIA Tutorials, release the unusual 2013 SNIA Dictionary and deliver Hands-on-Labs and IT Certification Prep Sessions that IT professionals in attendance continue to demand.
"Providing high-quality, vendor-neutral, and timely educational programs to the industry at-large is an integral portion of their industry mission," said Wayne M. Adams, Chairman of the SNIA. "As they fulfill their mission, the breadth and depth of educational resources grows ever larger. Our website provides free public access to over 100 storage and data tutorials and presentation sessions in video, audio, and data-file formats, which bask in been developed and delivered at the SNW conferences, SNIA conferences, and BrightTALK Webinars."
EDUCATIONAL OPPORTUNITIES AVAILABLE AT SNW SPRING 2013
SNIA SNW Hands-on-Lab Program is a mainstay feature of the conference designed to provide practical, vendor-led "hands-on" instruction and exercise to participants. SNW schedules 2-hour sessions with exercises for the following:
"Data Protection, commerce Continuity, and catastrophe Recovery - unusual Technologies"
"Architecting and Implementing a Fibre Channel SAN"
SNIA Tutorial Presentations. These offer a election of 20 sessions for technology topics. Sessions are vendor-neutral, expertly developed and peer-reviewed with content on synchronous topics that attendees can apply such as Cloud, stately Data, Non-Volatile Memory, Data Protection and Security. Examples of the specific session titles include:
"Deploying Public, Private, and Hybrid Storage"
"Massively Scalable File Storage"
"Object Storage Technology"
"Realities of Solid status Storage"
Additionally, the association offers more than 100 online presentations and tutorials, which are available at SNIA.org/education.
IT Professional Certification Preparation Sessions. These will review key concepts and information participants should know when seeking SNIA Certification in the following credentialed examinations:
"CompTIA Storage+ Powered by SNIA"
"Administration and Assessment, Planning and Design"
ADDITIONAL EDUCATIONAL AND CERTIFICATION PROGRAMS In addition to opportunities available at SNW, SNIA's global alliance with CompTIA to offer the "CompTIA Storage+ Powered by SNIA" Examination now provides successful candidates with a recognized industry Certification and ISO-accredited Credential. Another portion of SNIA's program offers two recently "refreshed" advanced even Certification Examinations: Storage Networking Management as well as Administration and Assessment, Planning and Design. SNIA plans to publish the availability of credentialed examinations for these two "upper level" certifications in Q2 2013.
SNIA E-course Learning Options. To prepare for the "CompTIA Storage+ Powered by SNIA" examination, is the unusual addition of a downloadable "SNIAeCourse" iOS App organize on iTunes®. The SNIAeCourse App and extensive preview are free, and the learning material for the App is for a fee. Plans are underway for more App courseware for SNIA upper-level exams.
SNIA's 2013 Dictionary and Webinars. SNIA annually publishes an award-winning print version (updated twice annually and available online) of its Dictionary -- a Glossary of terms and definitions.
SNIA frequently hosts BrightTALK Webinars in many key SNIA technical communities referred to by SNIA as Forums, Initiatives, Committees, Technical work Groups, and more. These sessions are focused on topics in which technical experts representing SNIA members participate their industry insights and experience.
For access to and information on the SNIA 2013 Dictionary, SNIA BrightTALK Webinars, SNIA Tutorials and much more educational content, gladden visit www.snia.org/education.
About the SNIA The Storage Networking Industry Association (SNIA) is a not-for-profit global organization, made up of some 400 member companies spanning virtually the entire storage industry. SNIA's mission is to lead the storage industry worldwide in developing and promoting standards, technologies, and educational services to empower organizations in the management of information. To this end, the SNIA is uniquely committed to delivering standards, education, and services that will propel open storage networking solutions into the broader market. For additional information, visit the SNIA web site at http://www.snia.org
Written by Express advice Service | unusual Delhi | Published: June 3, 2009 2:05:22 pm
Jamia students effect wellTwo students of Jamia Senior Secondary School,functioning under Jamia Millia Islamia qualified for admission to the IITs. Amir Khan got an all-India rank of 849 in the IIT-JEE,while Salman Shahid held rank 5070. Class XII board results also bask in been encouraging,with a pass percentage of 83.6 per cent with 49 distinctions and 141 first divisions among a total of 250 students.
On-the-spot admissionsEducation Link organised on-spot admission sessions for Bangor University at the British Council on Friday. The University had a variety of courses to offer,with diverse scholarships at undergraduate and post-graduate levels. MBA and Psychology programmes were the most preferred. The University will subsist visiting Education Link in June again for another on-spot admission session.
i360 inaugurates unusual centrei360 Staffing and Training Solutions announced the inauguration of their unusual centre in Delhi in Dilshad Garden. The Dilshad Garden centre will offer a large variety of courses to meet the training needs of students. These involve vocational training courses like fiscal wizard,retail management,one-year certificate course in managerial accounting,CS training among others. In addition,the company also offers programmes to develop soft skills such as Career evolution Programme,Spoken English,Call Centre Training and IELTS among others. Placement assistance will also subsist provided to students.
IAM gets certification from UK bodyEdexcel,UKs largest awarding corpse for academic and vocational qualifications,has partnered with the Institute of Apparel Management (IAM),promoted by Apparel Export Promotion Council (AEPC) to introduce their BTEC qualification. The four-year style and Lifestyle Design programme and the three-year style and Textile Merchandising programme will now involve Edexcels BTEC certification on completion of the first two years. The programme will subsist offered to applicants fulfilling requisite criteria in Gurgaon and Navi Mumbai based on seat availability.
New programme launchedIndian Retail School has introduced a unusual programme in Visual Merchandising and Store Design. The one-year course is for students looking for a specialised career in visual merchandising and store design in retail. Admissions for the course begins on May 15 and the batch starts from July 30,eligibility criterion being graduation from any stream. Eligible students will Go through an entrance test followed by an interview.
INSIFT to prepare aspirants for SCP ExamINSIFT,the information centre for information management,is conducting its inaugural short-term programme to prepare for the Storage Certified Professional Exam SCP 2009.The course is certified by SNIA (Storage Networking Industries Association),a corpse for advancing IT technologies,standards and education programmes for IT professionals. To subsist eligible for INSIFT SCP,candidates need to bask in a basic even of IT literacy,including at least six months sustain in IT and/or storage networking operations. Advanced computer skills,knowledge in at least one operating system and technical skills to develop complicated solutions is required.
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To the Members,
The Directors hereby present the Twenty-Sixth Annual Report of your Company along with the audited fiscal statements for the fiscal year ended March 31, 2017. The consolidated performance of the Company and its subsidiaries has been referred to wherever required.
1. fiscal RESULTS
(in Rs. Millions)
Year ended March 31, 2017
Year ended March 31, 2016
Year ended March 31, 2017
Year ended March 31, 2016
Revenue from operations
Employee benefits expense
Cost of technical sub-contractors
Profit before finance cost, depreciation, taxes and amortization
Depreciation and Amortization expense
Profit Before Tax
Profit After Tax
Paid-up Equity participate Capital
Earnings Per participate (EPS)
2. COMPANY AFFAIRS Standalone
On a standalone basis, your Company recorded revenue of Rs. 836.38 million, as against Rs. 866.46 million in the previous year. Mindteck''s net profit stood at Rs. 54.33 million, as against Rs. 82.02 million in the corresponding previous year. At an operating margin level, Mindteck recorded EBITDA of Rs. 96.41 million (11.53%) this year as against Rs. 151.33 million (17.46%) eventual year.
During the year under review your Company recorded consolidated revenue of Rs. 3,416.56 million as against Rs. 3116.30 million in the previous year. Of the consolidated revenue that was recorded, 71% is attributed to the US and the balance pertains to comfort of the world.
Mindteck''s Consolidated Net Profit for the year stood at Rs. 124.24 million, as against Rs. 259.27 million in the corresponding previous year.
At an operating margin level, Mindteck recorded EBITDA of Rs. 172.68 million (5.05%) this year as against Rs. 229.24 million (7.36%) eventual year.
There were no material changes and commitments affecting the fiscal position of the Company which bask in occurred between the finish of the fiscal year of the Company to which the fiscal statements relates and the date of the report.
The Board has recommended a dividend of 10% (Re.1 per Equity participate of Rs. 10 each) for the year ended March 31, 2017. This translates into a total outlay of Rs. 30,551,459 including Dividend Distribution Taxes.
4. commerce FOCUS AND HIGHLIGHTS
Mindteck provides product engineering and information technology services to Fortune 1000 clients, start-ups, leading universities, and government entities around the globe. The Company is devoted to delivering information that is captious to wait on their clients compete, innovate and propel forward. Mindteck''s legacy expertise in embedded systems and enterprise applications is complemented by its more recently recognized successes in loT-based solutions, such as those, for developing smart cities. It also has a tough track record in storage, life sciences, healthcare and medical devices. Mindteck is among a select group of global companies appraised at Maturity even 5, Version 1.3 of the CMMI Institute''s Capability Maturity Model Integration (CMMI). The Company is also one of the Founding Members of The Atlas online, a visualization implement for research developed by The seat for International evolution (CID) at Harvard University. Global alliances involve the Intel IoT Solution, GE Digital, Thread Group, IoT Global Network and ZigBee.
Storage and Semiconductor
Mindteck''s sustain in storage spans over two decades. The Company''s engagements bask in included storage software development, testing, hardware and firmware design, productized solutions, consultancy and implementation services. It has a readily available talent pool in the areas of system development, attribute assurance, and automation and data seat administration. The Company''s top storage clients bask in continuously provided the Company excellent customer satisfaction ratings for its consistent champion in executing their commerce captious projects.
Mindteck is also a technology partner for the Storage Networking Industry Association (SNIA), a not-for-profit global organization comprised of member companies spanning the global storage market. The mission of this organization is to lead the storage industry worldwide in developing and promoting standards, technologies, and educational services to empower organizations in the management of information. During the year, a key storage expert from Mindteck was elected to the SNIA-India Board.
For over a decade, Mindteck has been serving the semiconductor paraphernalia manufacturing industry. The Company''s expertise is comprised of a wide spectrum of IT services, including Semiconductor (SEMI) standards implementation, Device Net implementation, proprietary protocol development, Mechanical Engineering Services (MES), Enterprise Device Monitoring, Electronic Design Services (EDS), simulator development, automation, Change management and end-to-end testing services. Mindteck''s ready-to-deploy solution accelerators, such as a device simulator, automated paraphernalia software testing framework and Semiconductor paraphernalia Communications measure (SECS)/Generic paraphernalia Model (GEM)-based Factory Automation (FA) test harness, helps lower project risk and cost. Key highlights executed in FY2016-17 include:
- Expanded storage certification capabilities and added it as a unusual offering. Currently, Mindteck provides certification services on Citrix, VMware, Windows, VSAN and Red Hat; it is also building expertise in Microsoft Azure certification.
- Following the boom in all-flash storage devices, Mindteck has developed expertise in shimmer technology and is now providing services to many unusual players in this technology area.
- Won two unusual projects for software evolution and mechanical engineering with an atomic layer deposition group of a semiconductor paraphernalia company in the US.
- unusual order with a semiconductor foundry for a wireless notification device in APAC.
- Received an award for setting up product automation testing teams within a storage company.
Electronic Design Services
Mindteck''s expertise in hardware design and embedded software evolution has helped it become a trusted partner to many of the world''s leading semiconductor, automotive, industrial, current metering, and energy management companies.
Mindteck''s Electronic Design Services (EDS) group provides core embedded technology solutions and services in a wide variety of sectors, including industrial control systems, gas control and monitors, computer modules, electric vehicle chargers, instrumentation, storage, smart energy and IoT The Company''s integrated product design capabilities span hardware/firmware design, mechanical design, software development, connectivity solutions and value engineering. With a sound ecosystem of established partnerships, Mindteck''s comprehensive approach to product evolution consistently results in the reduction of time-to-market for the end-customer. Highlights of recent work include:
- Successfully delivered a medical communication gateway board for multiple ECG devices.
- Completed a car audio player upgrade project for an existing Original paraphernalia Manufacturer (OEM) customer, enabling them to migrate to a unusual hardware platform.
- Engaged with an existing customer in the belt of analytical instruments to develop hardware and firmware for their next generations Gas Chromatography (GC) system based on unusual sensor technology.
- Executed the design and evolution of two light therapy products for a UK-based customer.
- Launched a wearable device for production floor automation to improve productivity in semiconductor fabrication.
- Completed a complicated wireless current meter design for a Swiss customer; also, supporting large scale production of the current meter.
- Won multiple design projects in the automotive belt from an industry pioneer.
Smart Energy and Wireless
Mindteck is one of the earliest adopters of the ZigBee standards, and possess its own ZigBee and 6LowPan wireless stacks. Having developed ZigBee stacks for major silicon providers, Mindteck''s work is demonstrated through their solution accelerators:
- Wireless short-range and long-range communication modules
- Sensor modules for monitoring solar power generation/ efficiency
- Connectivity with WiFi, ZigBee, LoRa, LTE
The Company has been consistently focusing on wireless communication and wireless sensor networks for design and evolution of wireless monitoring and load control solutions in the automation space. Mindteck has been a ZigBee Alliance contributor member since 2004. It has developed ZigBee Stack and Application profiles for leading semiconductor companies, and conceptualized and developed ZigBee-based products for OEMs. Mindteck is also investing in proactive evolution of LoRa stacks. The Company has solution IPs that are market-ready and in line with smart city initiatives. It has also ventured into Wi-Fi based solutions, including wearables.
The visibility and acceptance of Mindteck''s smart energy offerings increased with the introduction of its Internet of Things (IoT) solutions—parking, building automation, smart grid, street lighting, health keeping and sustainable energy efficient solutions.
Enterprise IT Solutions
Mindteck has a tough track record of providing enterprise commerce solutions for large and medium enterprises in full streams of technologies. In the current year, Mindteck augmented its expertise in mobility solutions by delivering standalone solutions along with its Smart City solution offerings. The evolution approach has progressively moved to an Agile/Scrum methodology for most projects executed at Mindteck.
The sweep of Mindteck''s service offerings in this belt include:
- Enterprise commerce Application evolution using Microsoft, Java and LAMP technologies
- Enterprise Mobility solutions on IOS, Android and Windows platforms
- Application Maintenance/upgrade/migration across technologies
- Data Analytics and Visualization
- Independent Verification and Validation of IT solutions
Some of the major projects executed by Mindteck during the current year include:
- SharePoint portal for one of the leading banks in India.
- SharePoint-based internal implement for one of the largest global IT enterprises.
- Performance Management Systems for one of the leading banks in India.
- Independent verification and validation in the belt of medical compliance.
- Mobility application on iOS and Android for a world leader in car entertainment systems.
Application champion Services and BPM
Mindteck provides application champion services based on customer requirements. For one of the largest global IT enterprises worldwide, the Company has been providing champion for internal commerce tools for several years. Mindteck''s services bask in been rated very lofty on customer satisfaction, consistently - in portion due to a combination of the perquisite IT skills, along with a tough understanding of the commerce processes of the customer.
Mindteck has also been providing services in commerce Process Management for areas such as insurance. For underwriting services, Mindteck''s servicing for the niche catastrophic insurance sector has been much appreciated by the client.
Cloud Computing and stately Data
Mindteck provides end-to-end cloud-based IT Consulting Services across multiple cloud variants (private, public and hybrid cloud enablement). They bask in in-depth expertise in various cloud platforms, including Amazon Web Services (AWS), Azure, Eucalyptus, Open Stack and VMware, backed with SMEs and technical architects with tough enterprise background and application management, data seat and IT infrastructure expertise.
Mindteck''s cloud enterprise solutions expertise includes cloud-based monitoring and analytics, and stately data solutions. The Company has built a solution hosted on Amazon EC2 that leverages cloud infrastructure to provide the best analytical solutions with respect to the dashboard, custom reports and data mining capabilities. Its holistic analytics and commerce intelligence service offerings wait on clients act instantly on their data.
Mindteck''s Mind-CDMI brings niche expertise in cloud-based storage interoperability in the profile of a Cloud Data Management Interface.
Mindteck''s MegaMind is a stately data platform that enables automated extraction of car license plate information. A lofty volume of multi-media content (multiple images) streamed from IP cameras located in a city is processed and the car number plate is extracted with greater than a 70% success rate. This solution is targeted for security system providers and law enforcement.
Healthcare and Medical Devices
Mindteck''s Kolkata and Bengaluru evolution Centers were recertified for ISO 13485 - the world''s most acclaimed medical device standards by many global organizations.
Mindteck''s medical device expertise focuses on medical imaging, remote monitoring and patient monitoring devices. The company integrates its sustain in Life Sciences and Healthcare to provide scientific software solutions and product engineering related services in this niche domain. During the year, Mindteck enriched its capabilities in the areas of predictive analytics for pharma manufacturers. Other unusual offerings involve RA/QA services, pharmacovigilance and scientific data management of pharma research laboratories.
In the UK, Mindteck expanded its commerce with a key medical device client. It is also pursuing a major technology partnership with a leading medical device company in the belt of smart healthcare.
Mindteck provides niche engineering services to many major players of the life sciences industry. Starting from test and measurement companies, Mindteck works across multiple industry segments within analytical and bio-analytical instruments, such as control systems and physical and chemical testing instruments which are extensively used in nanotechnology and materials science. The Company''s offerings involve software and hardware evolution across many emerging areas, such as mobility, stately data and analytics. The service capabilities of Mindteck broadly cover the complete product engineering needs of device manufacturers.
For over ten years, Mindteck has been a leading software and hardware solutions provider for the life sciences instrument segment. With its blend of engineering expertise and IT experience, Mindteck is uniquely positioned to deliver against the exacting, and often demanding needs of the industry. Mindteck has longstanding relationships with many major players of the industry and the company''s services bask in consistently exceeded client expectations.
During the fiscal year:
- Mindteck initiated a unusual offering in platform testing of laboratory software, and is developing a Lab Intelligence implement for a Southeast Asian company that will ultimately subsist an enterprise lab analytics tool.
- Started an rendezvous with a property casualty insurance company, and an offshore rendezvous with an analytical instrument company.
Research and Development
Mindteck''s R&D team has developed a Smart Solutions portfolio to wait ahead in the global market and to wait on their clients derive more value. It includes: Smart Parking, Energy Monitoring and Management, Smart Lighting, Smart Healthcare, and Smart Collaboration Solutions. Key pilot projects executed by R&D during the year 2016-17 include:
Implementation of a Smart Parking Solution for a leading Indian Urban Local corpse (ULB): This innovative car occupancy detection solution uses both Wi-Fi camera with edge-based video analytics and battery-operated wireless sensors to capture car parking occupancy details, along with the date and time stamp. The sensors, which bask in multi-year battery life, were tested for extreme weather conditions at the client location.
The aggregated real-time parking availability information effortlessly integrates with any government-run and third-party parking aggregator service via the Application Programming Interfaces (APIs). Service providers can also hasten analytics on real-time parking data for detecting any revenue leakages and implementing dynamic pricing models. The solution includes a Smart Parking Mobile App that enables motorists to navigate and zero in on the nearest parking in real-time, resulting in reduced fuel consumption and carbon footprint.
Big Data POC deal with an Indian global telecommunications services company: For telcos, it is mandatory to store the convene detail records (CDRs) of every incoming and outgoing convene on their network for a period of seven years. Since the data volume of these CDRs is huge, data older than three months is stored on low-cost LTO-4 tapes. Telcos are also mandated to respond to specific CDR tow requests from government investigative agencies in a timely manner which requires restoring the tape and searching for specific CDRs. The current process is manually cumbersome—in addition to being cost prohibitive when the data has to subsist stored.
To ease the all process, Mindteck is now partnering with a multinational storage and data management company to supersede the Tivoli-based tape storage system for CDRs by developing a Hadoop-based stately data solution which archives the CDR data to their Storage GRID Webscale—a low-cost expostulate storage product that can scale in petabytes of storage and provides software-defined storage. This enables the CDR data to subsist available online for tow requests and analytics.
Mindteck''s R&D team is also focusing on creating unusual innovative smart solutions, products and processes and further assimilating them with existing IoT solutions to enhance the company''s smart city offerings. Over the past year, it has conducted proof of concepts (POCs) with clients for select projects and collaborated on initiatives with marquee clients.
Government and Smart Cities
Mindteck has been working with status and local governments since 1999. The company has successfully executed numerous projects in health and human services, education, constituent services, and public safety in the US, including in Pennsylvania, Texas, Michigan, Massachusetts, Oregon, District of Columbia, Wisconsin, California, West Virginia, unusual York, unusual Hampshire and Florida. Mindteck has a tough history of delivering projects comprising application development, program and project management, commerce analysis, testing, strategic consulting and professional services. During the year, Mindteck initiated a unusual commerce rendezvous with an established software services company that provides a myriad of commerce and technical solutions to the commercial and federal government market.
Within the smart city space, Mindteck further accelerated momentum by implementing smart capabilities for cities. Mindteck''s notable highlights in this belt include:
- Deployment of smart meters, along with software back-end integration, for the first smart grid project a large electricity supply company in South India.
- Implemented the first smart parking solution for a large municipal corporation in India.
- Won a smart home pilot automation/grid project.
CENTERS OF EXCELLENCE Storage Testing
Mindteck''s Storage seat of Excellence (CoE) has a long-term vision for the storage product line with a well-structured implementation plan. The company has the capacity and capability to offer a diverse sweep of storage engineering services. Leading storage solution vendors bask in benefited from their comprehensive attribute assurance.
Mindteck'' Storage Testing CoE is primarily aimed at providing the skills, people, processes and infrastructure to enable their customers to build and enhance product attribute in the storage space. For over a decade, Mindteck has built comprehensive expertise in storage functional testing, automation, performance testing, system testing and certification testing
- especially in the SAN, NAS and unified storage space, in tandem with multiple storage product vendors.
Wireless and Smart Energy
Mindteck continues to focus on providing monitor and control solutions by designing blocks required for wireless connectivity for IoT. The company''s current focus is on control nodes, gateways with multi-technology connectivity, and web server/applications for champion over the cloud for building automation and energy-efficient solutions across various industry sectors. Mindteck won a unusual project with an existing client in the Solar PV commerce for integrating a unusual module and also secured extensions for their application support.
With mobile applications becoming a portion of every enterprise solution, Mindteck has built mobility expert centers with profound skills in developing both hybrid and aboriginal mobile applications on IOS, Android and Windows smart phones. As portion of this initiative, Mindteck has dedicated teams in various aspects of mobility, including HTML5 and Java Script-based hybrid application evolution using tools like Cordova and PhoneGap, aboriginal application evolution on IOS using Xcode/Objective C and aboriginal Android evolution using Eclipse and Android Studio/Java. Mindteck has also nurtured the backend evolution related to mobility using Jason-based Web Services and proprietary protocols. Based on this CoE initiative, Mindteck has acquired customer projects and developed mobile applications in the smart energy, medical and infotainment areas. Some of these applications were deployed in Google Play Store, Apple iTunes and the Windows Store.
Mindteck Kolkata''s CoE has made further in-roads into value development. It has developed expertise in medical data exchange protocols, such as HL7 and DICOM, medical data security aspects involving FIPS140-2 and HIPPA, and FDA-recommended evolution guidelines. Mindteck has worked with a wide set of medical vital parameters and gathered significant expertise in using medical data simulators.
With two, state-of-the-art, in-house analytical instrument laboratories, Mindteck is capable of delivering software and hardware solutions, executing R&D assignments, and conducting analytical testing on a variety of instruments for customers.
Change in Nature of Business
There were no changes in the Nature of commerce of the Company during the year.
At Mindteck, they believe "Quality is the result of a carefully constructed cultural environment. It has to subsist fabric of the organization, not portion of the fabric". - Phill C
Mindteck''s attribute Management System (QMS) is a collection of commerce processes focused on consistently meeting customer requirements and enhancing their satisfaction. Mindteck continues to adhere to ISO certifications 9001:2008, ISO 13485:2003, ISO 27001:2013 and CMMI-DEV Version 1.3 Maturity even 5.
Mindteck''s appraisal at CMMI-DEV Version 1.3 Maturity even 5 is a testament to its corporate commitment and attention to quality, providing significant benefits to clients and employees. Mindteck leveraged CMMI-DEV Version 1.3 Maturity even 5 to achieve improved customer satisfaction, and ultimately further profitability and growth.
ISO certifications demonstrate Mindteck''s ongoing commitment to delivering a consistent even of attribute to customers through its well-defined process and procedures. Mindteck is enterprise-wide certified against ISO 9001:2015 (Quality Management) and continues to hold domain-specific attribute certification ISO 13485:2003 (for Medical Devices). This assures the company''s commitment to providing value to clients through process-driven innovation principles at every stage of medical device evolution and design.
Mindteck understands that the confidentiality, integrity, and availability of information are vital to commerce operations and success. Mindteck uses a multi-layered approach to protect key information by constantly monitoring and improving its applications, systems, and processes to meet the growing demands and challenges of dynamic security threats. eventual year, again, Mindteck successfully maintained CMMI even 5 for software and hardware evolution projects in its Bengaluru and Kolkata locations. Additionally, the Capability Maturity Model Integration (CMMI) Institute accepted Mindteck as a partner. In its role as Partner, the Company is now certified to provide official CMMI Institute services in Capability Maturity Model Integration (CMMI) and Data Management Maturity (DMM).
Mindteck has offices in the US, UK, Singapore, Malaysia, Philippines, Bahrain, Netherlands, Germany and India. There are also four evolution centers equipped with R&D laboratories across the globe. The infrastructure includes space for workstations, conference rooms, meeting rooms, labs and a world-class communication system. The innovative ''best shore delivery model'' has provided their customers with a mix of onsite, offshore, near shore, offshore-onsite and other hybrid delivery options across geographies, for faster and more efficient delivery of attribute services.
On March 31, 2017, Mindteck had six wholly-owned subsidiaries: Mindteck, Inc. (US), Mindteck Middle East Limited S.P.C. (Bahrain), Mindteck Software Malaysia SDN. BHD. (Malaysia), Mindteck Singapore Pte. Ltd. (Singapore), Mindteck (UK) Limited (UK) and Chendle Holdings Limited (British Virgin Islands). Mindteck (UK) Limited has two subsidiaries – Mindteck Germany GmbH (Germany) and Mindteck Netherlands B.V. (Netherlands). Mindteck Singapore Pte. Ltd. has one subsidiary -Mindteck Solutions Philippines, Inc. (Philippines).
The Consolidated Financials bask in been audited and profile portion of this Annual Report. The financials of the subsidiaries bask in also been audited by the respective statutory auditors. The Consolidated Financials bask in been prepared and audited in strict compliance with applicable Accounting Standards and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as prescribed by SEBI. full information, including (a) capital (b) reserves (c) total assets (d) total liabilities (e) details of investment (except in case of investment in the subsidiaries) (f) turnover (g) profit before taxation (h) provision for taxation (i) profit after taxation and (j) proposed dividend as directed by the Ministry of Corporate Affairs, has been disclosed in the Consolidated balance Sheet. fiscal Highlights with the Indian rupee equivalent of the figures given in the foreign currency, along with exchange rate as on closing day of the fiscal year, and the statement pursuant to Section 129(3) in profile AOC-1, forms portion of this Annual Report as Annexure-1.
Further, the Company undertakes that the annual accounts of the subsidiary companies and the related minute information will subsist made available to any investor seeking such information at any point of time. The annual accounts of the subsidiary companies and related minute information will also subsist kept for inspection by any investor at Mindteck''s Registered Office and that of the respective subsidiary companies. They shall furnish a difficult copy of the accounts of subsidiaries to any shareholder on demand and a soft copy of accounts is available on the Investors section of Company''s website www.mindteck.com. The Holding, as well as Subsidiary companies, regularly files the applicable data to various regulators and government authorities, as and when required.
None of the Subsidiaries, Joint ventures or Associate companies ceased during the year.
8. RELATED PARTY TRANSACTIONS
All Related Party Transactions that were entered during the fiscal year were on an arm''s length basis and in the ordinary course of business. There were no material significant Related Party Transactions made by the Company with Promoters, Directors, Key Managerial Personnel or other designated persons and their relatives except with its wholly-owned subsidiaries. The particulars of such contracts or arrangements with related party are attached in Annexure-2.
9. AWARDS AND RECOGNITION
Mindteck is among the select group of global companies appraised at CMMI-DEV Version 1.3 Maturity even 5 from CMMI Institute. It is enterprise-wide certified against ISO 9001:2015— attribute Management and continues to hold domain-specific attribute certification ISO 13485:2003 for Medical Devices. In recognition of its security efforts, Mindteck was certified for ISO 27001:2013-Information Security Management System. Additionally, this year Mindteck was certified to provide official CMMI Institute services in Capability Maturity Model Integration (CMMI) and Data Management Maturity (DMM).
No material litigation is outstanding as on March 31, 2017 except one recovery suit filed in connection with foster payment made for the proposed office premises, which was not occupied by the Company.
11. CHANGES TO participate CAPITAL
The Board of Directors of the Company allotted 21,366 Equity Shares on May 20, 2016, 40,666 Equity Shares on August 10, 2016, 78,996 Equity Shares on November 11, 2016 and 69,766 Equity Shares on February 10, 2017 pursuant to allotment of shares under the Employee Stock Option Schemes. Consequently, the outstanding, issued, subscribed and paid up Equity Shares increased from 25,173,101 to 25,383,895 as on March 31, 2017.
12. BOARD COMMITTEES
The details of various Committees of the Board are provided in the Corporate Governance Report.
13. FIXED DEPOSITS
The Company has not accepted any fixed deposits and, as such, no amount of principal or interest was outstanding as on the balance Sheet date.
14. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
Loans, Guarantees or Investments covered under Section 186 of the Companies Act, 2013 forms portion of the notes to the fiscal Statements provided in the Annual Report.
15. TRANSFER TO RESERVES
During the year, the Company transferred Rs. 54,334,201 to its reserves.
As per Article 112 of the Articles of Association of the Company, Mr. Meenaz Dhanani retires by rotation as Director in the ensuing Annual universal Meeting and, being eligible, offers himself for reappointment. A brief resume of Mr. Meenaz Dhanani is included in the notice for the Annual universal Meeting. Mr. Meenaz Dhanani was re-appointed as an Executive Director of the Company for a period of three years efficient from October 04, 2016.
Mr. Sanjeev Kathpalia was appointed as an Additional Director efficient from February 10, 2017 and subsequently he was elevated to the position of Managing Director and Chief Executive Officer with consequence from March 01, 2017 for a period of three (3) years. The Resolution seeking the approval of Members for appointment of Mr. Sanjeev Kathpalia as Managing Director and Chief Executive Officer forms portion of the notice for the 26th Annual universal Meeting. A brief resume of Mr. Sanjeev Kathpalia is included in the notice for the Annual universal Meeting.
Declarations by Independent Directors
All Independent Directors bask in given declarations to the consequence that they meet the criteria of independence as laid down under Regulation 16(1)(b) & 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Sub-Section 6 & 7 of Section 149 of the Companies Act, 2013.
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has carried out an annual performance evaluation of its Board''s performance, the Directors individually, as well as the evaluation of the working of its Committees and Chairperson.
The Company places stately emphasis on the principle of diversity, including gender diversity. Diversity throughout the organization makes stately commerce sense. The Company maintains that appointments to the Board should subsist based on merit as well as complementing and expanding the skills, information and sustain of the Board as a whole.
Policy on Directors'' appointment and remuneration
Mindteck has an appropriate mix of Executive and Independent Directors to maintain the independence of the Board, and sever its functions of governance and management. As on date, the Board consists of Eight Directors, two of whom are Executive or Whole-time Directors, one is Non-Executive and five are Independent Directors, including one woman Director. The Board periodically evaluates the need for change in its composition and size. The policy of the Company on Directors'' appointment and remuneration, including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under Sub-section 3 of Section 178 of the Companies Act, 2013, adopted by the Board, is attached as Annexure-3 to the Board''s report. They affirm that the remuneration paid to the Directors is as per the terms.
Number of meetings of the Board
The Board met four times during the fiscal Year, the details of which are given in the Corporate Governance report that forms portion of this Annual Report. The intervening gap between any two meetings was within the confine prescribed by the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Vigil Mechanism/Whistleblower Policy
The Company has established a Whistleblower Policy for Directors and employees to report their genuine concern and the said policy is attached as per Annexure-4.
17. KEY MANAGERIAL PERSONNEL
Mr. Sanjeev Kathpalia was appointed as Managing Director and Chief Executive Officer with consequence from March 01, 2017 for a period of three (3) years. The term of Mr. Yusuf Lanewala as Managing Director and Chief Executive Officer completed on March 31, 2017 and he continues to subsist a Non-Executive Chairman of the Company with consequence from April 01, 2017.
18. AUDITORS Statutory Auditor
Mindteck''s statutory auditor, M/s. B S R & Company, Chartered Accountants, Bengaluru, holds office as Auditor until the conclusion of the ensuing Annual universal Meeting and by virtue of compulsory rotation of Auditor, the Board recommends the appointment of S.R. Batliboi & Associates LLP, Chartered Accountants (Firm Registration No. 101049W/E300004) to the shareholders in the ensuing Annual universal Meeting, who has confirmed its eligibility and willingness to accept the office of Auditor, if appointed for a period of five (5) years, i.e. up to the AGM of FY 2021-22, as per the Companies Act, 2013.
CS S Kannan a Practicing Company Secretary, was appointed to conduct the Secretarial Audit of the Company for the FY 2016-17, as required under Section 204 of the Companies Act, 2013 and Rules thereunder. The Secretarial Audit Report for the FY 2016-17 forms portion of the Annual Report as Annexure-5 to the Board''s Report.
The Board famed the reports given by Statutory Auditor & Secretarial Auditor and confirmed that there are no qualifications, reservations or adverse remarks or disclaimers.
19. EXTRACT OF ANNUAL RETURN
In accordance with Section 134(3)(a) of the Companies Act, 2013, an extract of the annual recur in the prescribed format is attached as Annexure-6 to the Board''s Report.
20. SIGNIFICANT AND MATERIAL ORDERS
There were no significant and material orders passed by the Regulators or the Courts or Tribunals impacting the going concern status and Company''s operation in the future. The details of Tax Matters are disclosed in Annexure to Auditor''s Report in the Standalone fiscal Statements.
21. INTERNAL fiscal CONTROL
The Board has adopted the policies and procedures for ensuring the methodical and efficient conduct of its Business, including adherence to the Company''s policies, safeguarding its assets, prevention and detection of frauds and errors, accuracy and completeness of the accounting records, and timely preparation of the reliable fiscal disclosures.
22. INDEPENDENT DIRECTORS FAMILIARISATION PROGRAMME
Mindteck has an established a familiarization programme for its Independent Directors. The commerce heads, Executive
Directors and Company Secretary construct presentations on commerce models, nature of industry and its dynamism, the roles, responsibilities and liabilities of Independent Directors etc. Further, updates on business, statutory law and industry are made available to Independent Directors, especially to the Audit Committee members on an ongoing basis by internal teams and Statutory and Internal Auditors on a quarterly basis.
23. PARTICULARS OF EMPLOYEES
The table containing the names and other particulars of employees in accordance with the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is attached as Annexure-7 to the Board''s report.
The list of top 10 employees and other employees employed throughout the fiscal year and are in receipt of remuneration of Rs. 102 lakhs or more, or employed for portion of the year and in receipt of Rs. 8.50 lakhs or more in a month, under Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is as under:
Top 10 Employees of the Company based upon the remuneration drawn during the FY 2016-17
Nature of Employment
Experience (in years)
Date of Commencement of Employment
Percentage of Equity shares held by the employee in the Company
Any such employee is a relative of any Director or manager of the Company and if so, name of such Director or manager
Information Technical Consultant
Sumit Goswami *
EVP -Managed Services (US)
B.E (Computer Technology), PGDBM
Novellus India Pvt Ltd
Sr. VP- Managed
HCL Technologies Ltd
Girish Chandrasekhar Pachuveetil
CGI Information Systems and Management Consultants Pvt. Ltd.
Shivarama Adiga S.
VP - Legal and Company Secretary
M.Com, LLB and CS
Diligent Media Corporation Limited
Dr. Krishnan K V
VP - TSA
ISRO - Govt of India
EDC Creattive Technology Solutions
Employees employed throughout the fiscal year and are in receipt of remuneration of Rs. 102 Lakhs or more, or employed for portion of the fiscal year and are in receipt of Rs. 8.50 Lakhs or more a month.
Nature of Employment
Experience (in years)
Date of Commencement of Employment
Percentage of Equity shares held by the employee in the Company
Any such employee is a relative of any Director or manager of the Company and if so, name of such Director or manager
Managing Director and Chief Executive Officer
B. Tech, IIT Delhi (Chemical Engineering), MBA, IIM Calcutta
March 01, 2017
Senior Advisor to the Prime Minister (Republic of Turkey)
24. COMMITTEES OF THE BOARD
Currently, the Board has six Committees: the Audit Committee, Nomination and Remuneration Committee, Corporate sociable Responsibility Committee, Stakeholders Relationship Committee, Corporate Governance Committee and Risk Management Committee.
A minute note on the Board and its Committees is provided under the Corporate Governance report in this Annual Report. The composition of the Committees and compliances, as per the applicable provisions of the Act and Rules, are as follows:
Name of the Committee
Composition of the Committee
Highlights of duties, responsibilities and activities
Mr. Narayan A. Menon - Chairman Mr. Yusuf Lanewala - Member Mr. Javed Gaya - Member Mr. Jagdish Malkani - Member Mr. Guhan Subramaniam - Member Ms. Prochie Mukherji - Member
- The Committee oversees the Company''s fiscal reporting process and disclosures of its fiscal information to ensure accuracy and reliability.
- The Company has adopted the Whistleblower mechanism for Directors and employees to report concerns about unethical behavior, actual or suspected fraud, or violation of the Company''s Code of Conduct and Ethics. The Whistleblower Policy is attached as Annexure-4 to the Board''s report.
- In accordance with the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has formulated policies on Related Party Transactions and material subsidiaries. The policies, including the Whistleblower Policy, are available on Company''s website.
Nomination and Remuneration Committee
Mr. Javed Gaya - Chairman Mr. Jagdish Malkani - Member Mr. Narayan A. Menon - Member Mr. Guhan Subramaniam - Member Ms. Prochie Mukherji - Member
- The Committee oversees and administers executive compensation, operating under a written charter adopted by the Board of Directors.
- The Committee has designed and continuously reviews the compensation program for the Managing Director & Chief Executive Officer and senior executives to align both short-term and long-term compensation with commerce objectives and to link compensation with the achievement of measurable performance goals.
- The Committee structures compensation to ensure that it is competitive in the global markets in which it operates in order to attract and retain the best talent. The Committee intends to bask in a combination of stock options and performance-based stocks to align senior employee compensation.
- The Nomination and Remuneration Committee has framed the nomination and remuneration policy. A copy of the policy is attached as Annexure-3 to the Board''s report.
Corporate sociable Responsibility Committee
Mr. Yusuf Lanewala - Chairman Mr. Javed Gaya - Member Mr. Jagdish Malkani - Member
- The Board has laid out the Company''s policy on Corporate sociable Responsibility (CSR), and the CSR activities of the Company are carried out as per the instructions of the committee.
- The Company allocated 2% of its medium net profits for three years immediately preceding the fiscal year on CSR activities to various beneficiaries.
- fiscal data pertaining to the Company''s CSR activities to various beneficiaries for the FY 201617 is attached under the prescribed format in Annexure-8 to the Board''s Report.
- The contents of the CSR policy are available on Company''s website (Weblink: http://www.mindteck.com/ assets/investor_pdf/CSR_Policy.pdf).
Stakeholders Relationship Committee
Mr. Javed Gaya - Chairman Mr. Yusuf Lanewala - Member Mr. Jagdish Malkani - Member
- The Committee reviews and ensures redressal of investor grievances.
- The Committee famed that full the grievances of the investors bask in been resolved during the year and there are no pending grievances as on the year end.
Risk Management Committee
Mr. Yusuf Lanewala - Chairman Mr. Meenaz Dhanani - Member Mr. Anand Balakrishnan - Member
- The purpose of the Committee is to assist the Board in fulfilling its Corporate Governance with respect to the identification, evaluation and mitigation of operational, strategic and environmental risks efficiently and effectively.
- The Company has developed and implemented a risk Management framework that includes identification of elements of risk, if any which in the opinion of the Board may intimidate the being of the Company.
- The details of the Management framework profile portion of this Annual Report.
Corporate Governance Committee
Mr. Narayan A. Menon - Chairman Mr. Yusuf Lanewala - Member Mr. Jagdish Malkani - Member Mr. Meenaz Dhanani - Member
- Review Board/Corporate Codes and construct suitable recommendations to the Board from time to time.
- Review the Structure/Charters of other Board Committees and construct suitable recommendations to the Board from time to time.
- Recommend best practices and standards in any particular belt to the Board of Directors as per its mandate.
25. RISK MANAGEMENT POLICY
The Company has a robust Enterprise Risk Management (ERM) framework to identify and evaluate commerce risk opportunities. This framework seeks to create transparency, minimize adverse repercussion on the commerce objectives and enhance the Company''s competitive advantage. The commerce risk policy defines the Risk Management approach across the enterprise at various levels, including documentation and reporting. The model has different modes that wait on in identifying risk trends, exposure and potential repercussion analysis at a Company even and also separately for different commerce segments. The Company has identified various risks and also has mitigation plans for each risk identified.
26. CORPORATE GOVERNANCE REPORT
Mindteck recognizes reliable Corporate Governance and is committed to sound corporate practices based on conscience, openness, fairness, professionalism and accountability, for the benefit of its stakeholders and for long-term success. They adhere to the standards set by SEBI for Corporate Governance practices as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and a report on Corporate Governance pursuant to Regulation 34 read with Schedule V of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 forms portion of this report in Annexure-9.
27. MANAGEMENT DISCUSSION AND ANALYSIS
The Management Discussion and Analysis is portion of this Annual Report.
28. DIRECTORS'' RESPONSIBILITY STATEMENT
To the best of its information and belief, and according to the information and explanations obtained by the Company, your Directors made the following statements in terms of Section 134(3)(c) of the Companies Act, 2013:
a. that in the preparation of the annual fiscal statements for the year ended March 31, 2017, the applicable accounting standards bask in been followed along with proper explanation relating to material departures, if any;
b. that such accounting policy as mentioned in Note 2 of the notes to the fiscal Statements bask in been selected and applied consistently. Judgment and estimates bask in been made that are reasonable and prudent so as to give a loyal and unbiased view of the status of affairs of the Company as at March 31, 2017 and of the profit of the Company for the year ended on that date;
c. that proper and enough keeping has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d. that the annual fiscal statements bask in been prepared on a going concern basis;
e. that proper internal fiscal controls were in situation and that the fiscal controls were adequate and were operating effectively;
f. that system to ensure compliance with the provisions of full applicable laws were in situation and were adequate and operating effectively.
29. THEY CARE
At Mindteck, keeping is rooted in the ways they engage and enable, and fundamental to the route in which the Company builds and foster relationships, champion others, foster careers in technology, and steward community causes. In2012, Mindteck established THEY keeping as a framework for honouring their commitments and making a lasting contrast both inside and outside the organization. The cornerstones are Knowledge, Opportunity, Advocacy, Inclusion, Goodwill and Respect. Constituents involve Shareholders, Clients, Employees, Partners and Communities.
During FY 2016-17, Mindteck made further strides forging positive brand associations, building stronger relationships and innovating within the THEY keeping framework:
Mindteck Academy, and IT workforce evolution solution, builds opportunities for learning, hiring and economic growth in the communities they serve.
- The underserved - qualified military veterans, recent college graduates, displaced workers - learn the technology skills required for gainful employment;
- Companies and government entities struggling to overcome IT skill shortages hire local citizens who bask in been trained to exact specification and need;
- Communities grow as their unemployed or underemployed are hired or retrained.
Notable highlights for the Academy''s year include:
- Conducted their first onsite commerce Analyst Boot camp in Madison, WI.
- Launched online, live, instructor-led Java/JEE course.
- Established partnerships for graduate placement, including one of the largest fiscal institutions in the world.
- Conducted internal Java and Agile-Scrum training for three clients.
- Hired a Technical Director to oversee classes, courseware and trainee performance.
Consultant keeping focuses on retaining and developing Mindteck''s valued people assets who work onsite at client locations. On an ongoing basis, their Brand Ambassadors assist, educate and engage consultants in multiple states throughout North America and Canada. During the year, the Leads Rewards Program was expanded to involve non-W2 Mindteck employees and consultants. Their Brand Ambassadors also assisted the recruiting team on improving their process and remarketing reporting. As an adjunct activity, the Consultant keeping Manager acquired two unusual clients, and also nurtured relationships related to smart city initiatives in the US. In the coming year, Consultant keeping will establish a pilot program for global Consultant keeping endeavors, strengthen dialogue and multi-level rendezvous with top-tier ''ambassador consultants'' optimize the consultant portal to achieve ''destination'' status, and continue spearheading footprint expansion in Missouri.
Transition keeping provides opportunities for seasoned technology professionals, who bask in been a victim of downsizing, to continue benefiting from their wealth of sustain and knowledge. They match their skillets to their niche needs to wait on build a stronger Mindteck. Transition keeping is also a resource for clients who want to preserve their reputation and employee morale during a restructuring, as well as for outplacement firms that want to reduce their roster of displaced IT professionals.
Client Care, which focuses on the client constituent of THEY CARE, is a customer sustain (CX) endeavour designed to engage and enable clients, as well as champion a caring culture and commerce approach. The Client keeping Ambassador is a client advocate, operating both cross-functionally and independently across the organization. Key efforts during the year focused on: Supporting process improvements, and delivery and service performance; Liaising with the US sales teams; Referrals to unusual clients and partners. An expansion of these efforts, along with increased channel/other engagement, will foster additional advocacy, loyalty and credibility during FY 2017-18.
30. CSR INITIATIVES
Mindteck''s Corporate sociable Responsibility (CSR) commitment is portion of THEY CARE. They believe that through their successes around the globe, they should give back in benevolent and deed. They execute what they can to create shared value and steward their resources to create hopeful tomorrows for others.
Core pillars of Mindteck''s CSR endeavors are Global Education and Local Targeted Giving. They believe in the empowerment of information and how it helps to bring positive change and stability to society as a whole; they also know that giving to local organizations that embrace the interests and values of the communities they serve builds stronger communities and makes commerce sense.
In FY 2016-17, Mindteck allocated more than 2% of its three-year medium net profits towards CSR activities and the details of the identical are attached to this report as Annexure-8.
Bangalore Samarthanam trust - empowers visually impaired, disabled and underprivileged individuals through developmental initiatives focused on education, social, economic independence and technology.
Government Girls lofty School and Government PreUniversity (PU) College for Girls in Hoskote through Bangalore Indiranagar Rotary trust - supports academic improvement, extracurricular activities and sanitation facilities.
Gandhi customary Age Home - Donated an ambulance and provided other infrastructure champion to a government recognized institution dedicated to the welfare of the aged and neglected;
Western Railways, Mumbai through Rotary Club of Bombay, Kandivli Charitable trust - Repair and major revamp of toilet blocks on suburban railway stations from Virar to Churchgate (Mumbai) for local Stations, through Rotary Club of Bombay Kandivli Charitable Trust.
Local, targeted CSR efforts in the US for the unusual year are under way. In 2016-17, these organizations were selected:
Northeast: The Seeing Eye - breeds and raises puppies to steer blind people; instructs blind people in proper use/ handling/care of the dogs; conducts and supports research on canine health and development.
Elijah''s covenant - harnesses the power of food to demolish the cycle of poverty, liquidate hunger and change lives.
Central Southeast: Pennsylvania Breast Cancer Coalition
- represents supports and serves breast cancer survivors and their families in Pennsylvania through educational programming, legislative advocacy and research.
Coder Kids - encourages kids to learn about Computer Science and programming; develops their interests in full areas of Science, Technology, Engineering and Mathematics (STEM) through active, hands-on learning with projects, demos and presentations by other kids and local technology professionals.
Southwest and Missouri: North Texas Food Bank (Plano
Food4Kids) - committed to addressing food insecurity of Chronically hungry early childhood and elementary school children in Plano, TX. Through partnering with the food bank, Food4Kids provides kids with a backpack filled with nutritious, shelf-stable food every Friday during the school year.
A.R.C. Angels Foundation - dedicated to saving lives by helping teens subsist actively involved in the prevention of teenage suicide; provides educational programs that empower teens to recognize signs/symptoms of suicide and purchase preventative actions.
West: YES! for Schools - teaches youth vigorous strategies to manage stress and emotions, so that they may exhibit greater self-possession and motivation to succeed in school and construct vigorous choices when faced with life''s challenges.
31. MINDTECK EMPLOYEES STOCK OPTION SCHEMES
Mindteck believes in the policy of enabling Mindteckians to participate in the ownership of the company and participate in its wealth creation as they are amenable for the management growth and success of the Company. The Company has three Employee Stock Options Schemes: Mindteck Employees Stock Options Scheme 2005, Mindteck Employees Stock Options Scheme 2008 and Mindteck Employees Stock Options Scheme 2014.
a. Mindteck Employees Stock Options Scheme 2005
During the year ended March 31, 2017, under this Scheme, the company granted 14,400 options on November 11, 2016 at an exercise price of Rs. 85.05 per participate and 14,400 options on February 10, 2017 at an exercise price of Rs. 92.10 per share, and also issued and allotted 59,300 shares to eligible employees. There has been no variation in the terms of ESOP Scheme during the year.
b. Mindteck Employees Stock Options Scheme 2008
During the year ended March 31, 2017, under this Scheme, the company granted 69,600 options on May 20, 2016 at an exercise price of Rs. 103.90 per participate and 239,000 options on August 10, 2016 at an exercise price of Rs. 90.75 per share, and it has issued and allotted 151,494 shares to eligible employees. There has been no variation in the terms of ESOP Scheme during the year.
c. Mindteck Employees Stock Options Scheme 2014
During the year ended March 31, 2017, under this Scheme, the company granted 250,000 options on March 30, 2017 at an exercise price of Rs. 78.10 per share. There has been no variation in the terms of ESOP Scheme during the year.
The details of the Employees Stock Option Schemes as required under Regulation 14 of SEBI (Share Based Employee Benefits) Regulations, 2014 are displayed on the website of the Company. (Weblink: http://www.mindteck.com/ assets/investor_pdf/Disclosures-pursuant-to-SEBI-Regulations-2014.pdf)
32. MINDTECK EMPLOYEES WELFARE TRUST
The Mindteck Employees Welfare trust was set up in the year 2000 to implement the Company''s participate Incentive Scheme. As on March 31, 2017, the said trust holds 416,000 shares of the Company and has not yet granted any shares to the Company''s employees under the said scheme.
33. CONSERVATION OF ENERGY, RESEARCH AND DEVELOPMENT, TECHNOLOGY ABSORPTION, foreign EXCHANGE AND OUTGO
Particulars that are required to subsist disclosed under Sub-section 3(m) of Section 134 of the Companies Act 2013, read with the Companies (Accounts) Rules, 2014 are set out in Annexure-10 included in this Report.
The Directors situation on record their appreciation of cooperation and continued champion extended by customers, shareholders, investors, partners, vendors, bankers, the Government, and statutory authorities for the Company''s growth. They thank employees at full levels across the Group for their valuable contribution in their progress and peek forward to their continued support.
for and on behalf of the Board of Directors
Bengaluru, India Sanjeev Kathpalia
May 22, 2017 Managing Director and Chief Executive Officer