2ebec1a9-c62e-4343-a994-10bb5a9c4860

13th July 2023
BSE Limited, National Stock Exchange of India Limited

Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th floor, Plot No. C/1,
Dalal Street G Block, Bandra Kurla Complex, Bandra
Mumbai 400 001 (East), Mumbai 400 051
Scrip Code: 543232 Trading Symbol: CAMS
Dear Sir / Madam,
Sub: Annual Report of the Company for the F.Y. 2022-23 along with the Notice
convening 35th Annual General Meeting
Pursuant to Regulation 30 and 34(1) of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015, we enclose herewith Annual Report for the financial year
2022-2023 along with the notice of the 35th Annual General Meeting (AGM) of the Company
scheduled on Monday, 07th August 2023 at 04:00 p.m. (IST) through Video Conferencing
(VC) / Other Audio Visual Means (OAVM). The said documents will also be available on the
website of the company at www.camsonline.com.
In compliance with the MCA Circulars and SEBI Circulars, the AGM of the members of the
Company is being held through VC / OAVM. The Notice of the 35th Annual General Meeting
and Annual Report for FY 22-23 are being sent only by email to the registered email addresses
of the shareholders of the Company.
The Company has appointed Mrs. B Chandra, Partner, M/s. B Chandra & Associates,
Practicing Company Secretaries (CP No: 7859), as the Scrutinizer for the e-voting process
(Remote e-voting and e-voting on AGM Day). With reference to the above, the key details are
provided below for the information of Shareholders:
Sl. No. Particulars Event Dates
1. Date of Annual General Meeting Monday, 07th August 2023
2. Time of Annual General Meeting 04:00 p.m. (IST)
3. Mode of Annual General Meeting Video Conferencing (VC) / Other
Audio-Visual Means (OAVM)
4. Record Date for Final Dividend August 15, 2023
5. Cut Off Date for eligibility in Remote e-Voting July 31, 2023
6. The remote e-voting period will Wednesday, August 02, 2023 at
commence on 09.00 A.M. (IST)
7. The remote e-voting period will end on Saturday, August 05, 2023 at
05.00 P.M. (IST)
Thanking you,
Yours faithfully,
For Computer Age Management Services Limited
Digitally signed by Manikandan
Manikandan Gopalakrishnan
DN: cn=Manikandan
Gopalakrishnan c=IN o=Personal
Gopalakrishn Reason: I am approving this
document
an Location:
Date: 2023-07-13 17:13+05:30
G Manikandan
Company Secretary and Compliance Officer
Nurturing
Innovation
Catalysing
Value Creation
Expanding
Frontiers
ANNUAL REPORT 2022-23

About the report
What’s Inside Basis of Reporting

This report is Computer Age Management Services
Limited’s (CAMS) second year of integrated reporting as
per principles of Integrated Reporting <IR> Framework of
International Integrated Reporting Council (IIRC), now a
01 CORPORATE OVERVIEW
01 Theme Introduction
part of IFRS Foundation. Through this reporting, we provide
a holistic information of our value creation processes while
02 About CAMS considering inputs of all stakeholders, the material issues
04 Business segment offerings and the external environment. We also provide a strategic
and future orientation to help investors make informed
14 Chairman’s Message
decisions. We capture such information through the lens of
15 MD’s Message six capitals – financial, manufactured, human, intellectual,
18 Key highlights FY 2022-23 social & relationship and natural capitals. We remain
committed to disclosing relevant information with highest
20 Business model
standards of transparency, and have covered all material
22 Strategy issues pertaining to our business.
23 Stakeholder engagement
27 Materiality
Reporting Principle
This report is prepared in accordance with the Companies
29 Risk management
Act, 2013 (and the Rules made thereunder), Indian
31 Financial Capital Accounting Standards, the SEBI (Listing Obligations and
33 Manufactured and Intellectual Capital Disclosure Requirements) Regulations, 2015 and the
Secretarial Standards. The guiding principles and content
39 Environment, Social & Governance
elements as stated in the <IR> Framework of the IIRC have
40 Pillar 1: Environment also been followed.
41 Pillar 2: Social
Boundary and Scope of Reporting
49 Pillar 3: Governance
This report covers financial and non-financial information
50 Board of Directors and activities of CAMS and its subsidiaries for the period of
52 Leadership Team April 1, 2022 to March 31, 2023. Significant material events
up to Board Meeting held on May 6, 2023 are also a
54 Awards and Accolades
part of this report. Our subsidiaries as on March 31, 2023
56 Corporate Snapshot include CAMS Insurance Repository Services Limited,
CAMS Investor Services Private Limited, Sterling Software
Private Limited, CAMS Payment Services Private Limited,
57 STATUTORY REPORTS
57 Notice
CAMS Financial Information Services Private Limited and
Fintuple Technologies Private Limited.
72 Board’s Report
Board Assurance
96 Corporate Governance Report The Board of Directors and the management team of CAMS
116 Management Discussion and Analysis have collaborated in the report’s preparation and accept
responsibility for its accuracy. To their best knowledge and
122 Business Responsibility & Sustainability Reporting
understanding, they believe that the report covers all material
topics and provides a fair and unbiased representation of the
Company’s performance and outlook.
148 FINANCIAL STATEMENTS
148 Independent Auditors’ Report on Standalone
Financial Statements Please find our online version at:
https://www.camsonline.com/about-cams/
158 Standalone Financial Statements
shareholder-relations/annual-report
215 Independent Auditors’ Report on Consolidated
Financial Statements Or simply scan to download
224 Consolidated Financial Statements

Nurturing Innovation
Catalysing Value Creation
Expanding Frontiers
Innovation is deeply embedded in CAMS’ DNA. Since
inception, and across over three decades, we have
channelled our passion, intellect and energy to
fostering a culture of ideation and experimentation to
unlock potential.
This transpired into game-changing innovations which Taking this relentless pursuit ahead, we have intensified
shaped the industry’s future and enabled us set new our expansion in newer businesses where we see
benchmarks and achieve market leadership. immense potential for growth. We are leveraging our
existing strengths and expertise to strengthen foothold
As we enter an era of tech-driven consumerism, in them. We are investing in cutting-edge technologies,
there is an urgency to make financial products more building strategic partnerships, and fostering a culture
personalised, simple and seamlessness across platforms of collaboration to drive innovation and create new
to win customers. opportunities for growth.
We have taken the big leap to evolve into a technology With our commitment to innovation and focus on
product company. We are imagining and designing every expanding horizons, we are confident of creating immense
component of delivery in a product manner. Analytics, value for all our stakeholders and continue to be a leader
artificial intelligence, cloud and blockchain are being in the industry.
mainstreamed across all solutions. It is enabling us to
deliver unmatched value propositions while catalysing our
value creation.
Computer Age Management Services Limited
About CAMS
A technology company revolutionising

the capital markets and BFSI
CAMS is a leading technology-driven financial infrastructure and services provider to mutual funds
(MFs), alternative investment funds (AIFs), insurance companies and other financial institutions. We hold
definitive leadership in India’s MF registrar and transfer agent (RTA) space, serving ten out of the fifteen
largest (based on AAUM) MFs, including the top four.
Our excellence is defined in the ability to deliver exceptional end-to-end services across MF value chain
and other asset classes. Our domain knowledge of India’s financial markets and process excellence
combined with our pioneering technology platforms and innovation capabilities, ensures these
unparalleled capabilities.
We have also leveraged our expertise to provide services in electronic payments, KYC and NPS
registration, insurance repository services and account aggregation to bring the world of finance at
fingertips. We continue to innovate and reimagine using next generation technologies to make business
processes seamless and deliver best-in-class customer service.
INNOVATE THROUGH ENSURE TEAM

TECHNOLOGY DIVERSITY
Our
BE PASSIONATE Values DELIGHT
ABOUT
CUSTOMERS
PERFORMANCE
COMPLY AND WIN THROUGH

MANAGE RISKS PEOPLE
We are recognised by leading institutions
ISO
SEBI AMFI The certification for
SEBI regulated Exclusive service BCP to be included:
since 1993 partner since 2002 ISO 27001:2013
Classified as QRTA for intermediary ISO 9001:2015
(Qualified RTA) governance services ISO 22301:2019
SOC1, SOC2
02
Corporate Overview Statutory Reports Financial Statements
35th Annual Report 2022-23
Organisational structure

Mutual Funds Services, Alternate Investment Funds Services, Payment Services.
100% 100% 100% 100%

CAMS Insurance Repository CAMS Investor Services CAMS Financial Information Sterling Software Private
Services Limited Private Limited Services Private Limited Limited (SSPL)
(CAMS REP) (CAMS KRA) (CAMS FIS)
100% 53.99% 55.42%

CAMS Payment Services Fintuple Technologies Think Analytics India
Private Limited Private Limited (Fintuple) Private Limited (Think360)
(CAMS PAY)
100% 100%
Think Analytics Consultancy Think360 AI, Inc.
Services Private Limited
Shareholding Pattern FY23
% of
Shareholding
Promoter – 19.92
Foreign Portfolio Investor – 35.00
Mutual Fund – 3.84
Alternate Investment Funds – 1.52
Individuals – 19.22
Financial Institutions / Banks – 0.56
Insurance Companies – 6.94
Others – 13
03
Business segment offerings
Anchored in the core

Mutual Fund RTA business
Mutual Funds is our core business, and we have established clear leadership in the segment with
difficult to replicate systems, processes and technology infrastructure. We have a rich legacy in this
segment having shaped the industry’s development and introducing unique services. Our MF clients
trust us to manage a large part of their operations efficiently.
CAMS: Leader in India’s MF space
India’s Serving 10 of
largest 15 largest MFs 61%
We are a trusted partner to Share in new
Registrar and Transfer Agent
ten of the 15 largest (based on SIP registrations
(RTA) of MFs with 69%
AAuM) MFs in India, including
market share in AAuM
all the four largest funds
Key Business Highlights during 2022-23
April 5, 2022 to its client roster and is set to expand its footprint as
Investment in Fintuple Technologies Private Limited. the gateway connecting the digitally savvy consumers to
The Company made a strategic investment in Fintuple digitally enabled manufacturers and providers, via APIs.
by way of a primary and secondary acquisition
amounting to 51% of the diluted total paid-up share
capital in the form of Equity Shares. Founded in 2018,
April 26, 2022
Fintuple is a new-age start-up which has launched Agreement with Zerodha for acting as the Registrar
niche technology offerings in the areas of client digital and Transfer Agent (RTA) services – The Company has
on-boarding, eKYC, fund reports, and other support been appointed by Zerodha Asset Management Private
digital solutions for AIF and PMS. In a short span, Limited (“Zerodha”) as their Registrar and Transfer Agent
Fintuple has added marquee AIF brands and Banks for their proposed Mutual Fund business.
04
April 28, 2022 CAMSfinserv AA will adopt some of the most

CAMS FIS/CAMSfinserv wholly owned subsidiary stringent standards of privacy, security and data
of the company collaborated with Microsoft India to delivery standards that are envisioned by the
develop Account Aggregator marketplace in India. regulator by integrating Microsoft’s security suite
with the core architecture.
CAMSfinserv is working with Microsoft India to
develop a robust technology foundation for the
Account Aggregator (AA) marketplace in India, to November 8, 2022
accelerate digital transformation in areas such as The Company has on a voluntary basis constituted a
credit lending, investment advisory and personal Board committee for considering the ESG initiatives.
finance management. CAMSfinserv and Microsoft This committee will monitor, evaluate, and provide
will work jointly to empower the Account Aggregator guidance on the Company’s policies, procedures,
ecosystem by developing the digital capabilities and practices with respect to ESG matters and will
necessary for stakeholders to seamlessly also oversee the Company’s public disclosure on
collaborate with each other, and drive inclusive ESG matters including any sustainability reports.
financial growth in India.
CAMSfinserv is one of the first licensees to launch November 21, 2022

the path-breaking Account Aggregator services Company won the “Cloud Innovator of the Year”
envisioned for consent-based data aggregation award in the Large Company Segment at the
and sharing. Running on the Microsoft Azure cloud NASSCOM Enterprise Cloud Adoption Awards 2022.
platform, CAMSfinserv’s AA offering will assure NASSCOM is the premier trade body and Chamber
users with stringent commitments on uptime and of Commerce of the Tech Industry in India and
speed of delivery while benefiting from Microsoft’s comprises over 3,000-member Companies including
industry-aligned solutions supplemented by its both Indian and Multinational organisations that have
strong R&D and product engineering capabilities. a presence in India.
05
December 18, 2022 been offering personalised payment options under the
CAMS and IIT Madras launch Fintech Innovation Lab. brand name CAMSPay to meet different use cases for
The lab is part of the CAMS CSR initiative to focus on Mutual Fund investors and Insurance policyholders
ushering innovation & unravelling unique possibilities for over a decade. CAMSPay has been an integral
in the Fintech space and aims to be a world-class payments partner supporting Mutual Fund investors,
hub for research and applied technologies in financial Insurance policyholders and Loan borrowers for over
technology space. a decade in enabling them move from paper-based
mandate process to offering digital payment solutions.
The Fintech Innovation Lab at IIT-M will develop The in-principle authorisation from RBI to operate
research-based decision support systems to financial as a Payment Aggregator will widen the scope and
market players using fintech. The lab will see coverage of CAMSPay.
development of hi-tech solutions addressing the needs
of the BFSI sector and will help develop Innovative Fin
Tech models to drive Financial Inclusion. The lab will March 1, 2023
establish an exclusive R&D Cell to focus upon research CAMS Wins LACP Vision Platinum Award for its
leading to patents and developing algorithms for the Integrated Annual Report FY 2021-22 The report has
broader use by capital markets and BFSI sector. been ranked 15th among top 100 reports worldwide
and has been given the additional honours of “Top 100
Ms. Nirmala Sitharaman, Hon’ble Union Finance Report Worldwide” and “Best Report Cover Worldwide”.
Minister, inaugurated the lab at the IIT-M CSR Summit
themed “CSR towards Technologies for a better
tomorrow” on December 18, 2022 in the presence of March 5, 2023
IIT Director, professors, students and leadership teams CAMS has entered into definitive agreements
from over 40 corporate houses associated with IIT-M. with the founders of Think Analytics India Private
Limited (“TAIPL”) and with TAIPL to make a strategic
The lab will establish an exclusive R&D Cell to focus investment in TAIPL by way of a secondary acquisition
upon research leading to patents and developing amounting to 55.42% of the total paid-up share capital
algorithms for the broader use by Capital market players subject to the conditions set out in the definitive
and the BFSI sector. agreements referred above (“Transaction”).
February 14, 2023 April 4, 2023

The Company has received the In-Principle TAIPL has become a Subsidiary of the Company
authorisation dated February 14, 2023 from Reserve became a Subsidiary. Think Analytics Consultancy
Bank of India to operate as a Payment Aggregator Services Private Limited and Think360 AI, Inc.
(“Authorization”) under the Payment and Settlement subsidiaries of TAIPL will become step down
Systems Act, 2007. As a specialised payment subsidiaries of the Company.
aggregator to the BFSI segment, the Company has
06
CAMS delivers exceptional performance
CAMS-serviced MF AUM (` trillion) SIP registration (in lakh)
27.3
353.70
25.4
298.60
20.0
18.1
214.80
15.4
200.50
14.9
13.2
12.4
158.20
72.91
152.70
68.69
11.4
10.1
6.8
6.7
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23

Equity | Non-equity | Total New SIP registration | Total live SIP
Gross SIP collections registration (` Crore) Transaction volume (million)

90,744
465.7
415.9
71,047
328.1
323.4
58,693
54,744
FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23
Scale of delivery
` 27.3 465.7 35.4 324

trillion* million **
million *
million**
CAMS serviced Asset Transaction volume SIP Book SIP Transactions
under Management
(AuM)
25.7 57.4 112.8 ` 151.8

million *
million *
lakh million **
trillion**
Unique Investors Live Investor Folio Investor Service Processed as
Serviced Requests pay-in/pay-out
*As on March 31, 2023 | **During FY 2022-23
07
Business segment offerings
Spreading out, eyeing newer

opportunities
We have taken our three decades of technology excellence and domain expertise, to diversify beyond
mutual funds. These strategic business areas offer high growth potential, supported by regulatory
developments and evolving investor landscape driven by technology. At CAMS, we seek to build on our
market leading positions across these businesses and unleash growth potential.
Alternative Investment Fund (AIF) Services & Portfolio Management Services (PMS)
We offer platform-based services to investors such Key developments FY23

as digital on-boarding, AML services, transaction
processing, managing records, fund accounting and Maintained high growth trajectory recording 6%
reporting, reconciliation and creation of MIS and growth in revenue to ` 97,183 lakh and AUM
reporting systems to alternative investment and other crossing ` 27.3 trillion
types of funds. We also offer intermediaries revenue Fintuple Technologies acquired with marquee
and investor service management. To strengthen our clients
competencies, we made strategic investment in Fintuple
Technologies for a majority stake. A new-age start-up, Witnessed sustained growth momentum through
Fintuple offers niche technology solutions for digital on- the year which includes receiving the mandate
boarding, eKYC, fund reports, and other support, and from three new AMCs
has marquee AIF brands and banks as its client. It is set Made inroads in the MNC space becoming
to grow footprint as an API-enabled gateway connecting service provider for leading international AIF and
digitally savvy consumers, manufacturers and providers. PMS funds
Our optimism in the business is driven by strong growth Digital on-boarding platform CAMS WealthServ
witnessed in the AIF and PMS space with number of witnessed significant traction with more than
SEBI registered funds rising from 649 in March 2020 to 60 enterprise sign-ups since launch
1,044 in December 2022. Besides, the segment also Signed up nine clients in newly operationalised
offers potential for higher margins with customer willing GIFT City
to pay premium for better experiences.
Our market position

Market leader in domestic AIF and
PMS space – Serving 130 + fund houses
(with 380+ schemes) with AUM of ` 1.50 trillion
1st AIF service provider in GIFT City
08
Insurance Repository & Services

(through subsidiary CAMS REP)
We offer policyholder platform through insurance Key developments FY23

repository to hold policies in dematerialised form. To
Registered strong volumes in FY23 with 14.25 lakh
the insurers, we offer a comprehensive service suite
e-Policy issuances and 11 lakh e-Insurance account
that enable policy servicing including support functions
opening.
like renewal collection and benefit processing through
digital as well as physical channels. Launched key digital products and services
including:
The segment is witnessing strong momentum
with insurance policyholders proactively opting to E-KYC for instant verification via digital modes
dematerialise policies and undertake KYC, in response during both on-boarding and benefit payments
to IRDAI’s regulatory proposal. This highlights the
Insta EIA for real-time creation of e-Insurance
intent of consumer in terms of aligning behaviour
account
to take advantage of convenient regime. Also, with
the mandate of KYC now finally in effect for general Digital Loan Assessment Platform for digitising
insurers, there is further scope to bring non-life on to the entire loan policy assessment process, and
insurance repository platform. thus bridge the gap between financiers, insurance
companies and policyholders
Our market position Ramped up deep contract tracing services with
40% market share (by policies) in insurance PolicyGenie and assisted insurance players in
repository business, with more than 5.2 million processing accounts which have more than ` 8,500
policies held. million unclaimed benefits on the maturity validation
services.
4.2+ million e-Insurance accounts.
Making progress to improve offerings to both
` 800 Crore Assisted Insurance companies to insurers and policyholders.
identify the policy holders in respect of unclaimed
benefit amount.
09
Account Aggregator Services

(through subsidiary CFISPL)
The Company provides account aggregator (AA) services Key developments FY23
to banks, NBFCs and investment advisors amongst
others, through CAMSfinserv, which has developed a Won 60 + FIU /FIP mandates
robust aggregator platform. It acts as a single platform CAMSfinserv android app well-received crossing
for consent-based financial asset data aggregation and 15,000 downloads to become the most downloaded
sharing, and gives a unified view of all assets. It further AA app
facilitates in sharing specific financial information of user
in an encrypted manner. Running on Microsoft Azure Undertook several targeted customer engagement
cloud platform, it ensures uptime and speed of delivery, events ‘Reimagine Wealth Management’ across
and benefits from Microsoft’s industry-aligned solutions Mumbai, Delhi and Bengaluru to showcase various
and R&D capabilities. It further integrates Microsoft’s use cases, their potential and build deal pipelines
security suite, adhering to the regulator’s stringent
18 banks and one life insurance company live as FIP
privacy, security, and data delivery standards.
Assisting go-to-market of high-volume, cash
Account aggregation is expected to witness significant flow‑based lending use cases using GST data which
growth given the huge data volumes across diverse have become popular
industries like banking, insurance, pension and MF who
have agreed for integration journey. Besides, there will
also be scope for associated services like analytics
and personal finance management. Our unique value
proposition of coupling own digital solutions along with
core AA offering has been well-received in the market,
contributing to sign-ups with several marque clients.
We have also collaborated with Microsoft India

to develop a robust technology foundation for the
AA marketplace in India for accelerating digital
transformation in credit lending, investment advisory,
and personal finance management. It will enable
stakeholders to seamlessly collaborate and drive
inclusive financial growth.
Our market position

Market leading position with 60+ significant
FIU / FIP closures
Pioneered and became 1st to use AA data
to validate customer bank accounts to eliminate
risks and ease onboarding
1st to go live on the AA platform with pension
data as a FIP
FIU – Financial Information User; FIP – Financial Information Provider;

TSP – Technology Solution Provider
10
CAMS CRA
eNPS Registrations
We started the business in FY22, with the launch of Key developments FY23
industry first CRA platform on cloud in March 2022 to
simplify customer journeys for eNPS. The platform and Witnessing subscriber addition through eNPS as well
API stack has also been extended for point of presence as through six POP retail linkages that went live
(POP), to allow retail traffic on their website to use our 9.7 lakh visitors on CAMS NPS website
platform for registrations. We further offer innovative
More than 3k subscribers registered under PoP
features like using eKYC data to onboard pension
customers and UPI-based bank account verification
which are driving differentiation.
Our market position

9.17% market share with 24.8k eNPS registrations
#2 in new eNPS sales during FY23 Achieved high
subscriber satisfaction level
Above 90% CSAT (customer satisfaction) survey
score for industry-defining registration journey that
delivers satisfactory and intuitive experience
KYC Registration Agency

(through our subsidiary, CISPL)
This business is a licensed KYC Registration Agency
(KRA) for capital markets, providing services for
verifying and maintaining KYC records of investors for
use by financial institutions.
Key developments FY23

Number of KYC registrations crossed the landmark
figure of 10 million
11
Electronic Payment Collection
CAMSPay is an integral payments partner offering payment solutions include UPI, UPI AutoPay, net
personalised digital payment solutions for MF investors, banking, eSign Mandate and InstaNACH. The business
insurance policyholders and loan borrowers for over a is witnessing momentum supported by rapid strides
decade. We manage mandated transactions, including made in the UPI (essentially P2P led). We are though
registering of mandates, initiation of collections, focussed on UPI Autopay to ride this wave instead of
reconciliation and the related reporting services for UPI which is on zero-commission model.
MFs, Insurance Companies and NBFCs. Our diverse
Key developments FY23

Successfully crossed 1.5 million mandate registrations Initiated converting iSIPs to Insta eNACH to
and processed a staggering ` 50 billion worth of address the challenges of account validation
transactions (NACH & Digital Transactions) (TPV), delays in updating the Net Asset Value
(NAV) and higher costs
Received in-principle authorisation from RBI to
operate as a Payment Aggregator which will widen our CAMSPay Business App, a comprehensive suite
scope and coverage of solutions to provide a smooth digital experience
and manage the mandate lifecycle
Fortified product offerings with various launches
including: Hybrid mandate journey to improve the success
rate and registering the customers via link for all
Recurring Payment Solutions that ensure seamless
recorded declines
payment collections
CAMSPay’s very own meticulously crafted in-
Insta SIP that accelerates the investment journey
house built ‘One Dashboard’ for real-time reports
of the customers by allowing them to make their
and insights
one-time investment and the following SIP in a
single transaction, all in one flow Digital Payment Solutions for easier payment
collections:
Pioneers in launching UPI AutoPay for major clients
in BFSI sector with the highest success rate A comprehensive platform that accepts cards, Net
Banking and UPI with QR, Intent & Collect variants
Supports 150+ payment methods for higher
success rate
Complying with RBI guidelines related to bank
account validation and direct settlement
Enhanced solution offering across BFSI with
Pay-by-link
Authentication services to fasten up the onboarding
process and identifying the integrity of the customer,
thereby preventing frauds.
12
Software Solutions
(through subsidiary SSPL)
The development centre for CAMS and clients Key developments FY23
technology requirements bringing deep domain
Expanded into multi-specialisation areas under BFSI
specialisation in FS segment.
domain to provide technology solutions including
NPS, Recon platform, PMS for HNI clients, AA and
loan against MF
Created a TSP solution for the ease of the FIU
customers in the AA platform
Fintuple Technologies Private Limited

Fintuple Digital Transformation Focus
Successful Engagements IP build-outs

Successfully implemented fully Digital DEMAT account Have enabled full-scale offerings for Digital Custody
opening solution for a major Private Sector Bank. solutions that can be taken up and re-configured for
Also, implemented a fully Digital KYC solution for the any custodian in the marketplace. Currently, IP is
bank for both Mutual Fund and Custody departments 25% more than what competitors provide and will
within the bank offer more than twice the capabilities within the end
of this fiscal
Currently, in the midst of digitalisation of Custody+
services for another private sector bank. This is Ready with offering of a custom digital platform for
being built as a multi-year, multi-phase large-scale wealth institutions, esp. in alternatives. Currently,
digital transformation that will subsequently bring there is no peer/competition in the marketplace
the services capabilities of the bank under a unified & the plan is to aggregate this with other capital
umbrella digital solution market assets
eServices of the company as products are being
used by the clients of CAMS also in addition to its
own clients. These include for capabilities such as
eSign, eStamp, and eKYC
13
Chairman’s Message
As a technology-driven organisation and Mr. Dinesh Kumar Mehrotra

the most essential financial infrastructure Chairman
and service provider in India, the Company’s
primary business is being the Registrar and
Transfer Agency to Asset Management
Companies.
Dear Stakeholders,
I am happy to address you as part of increased both on the revenue side start-up entities viz. Fintuple and
the Annual Report of CAMS for FY23 at and in launching market relevant Think360 AI. Integration of their
a time when the world has almost come technology. There has also been products with the services of CAMS is
out of the Pandemic. The year also significant progress as Account underway and this will assist CAMS in
witnessed the capital markets weighing- Aggregator and TSP combination, building overall market reach and drive
in the impact of various macroeconomic onboarding several marquee banks, innovation. The product and solution
events including the Russia-Ukraine broking houses, NBFCs and wealth suite of Think360 AI is a great fit to
war, high inflation, and reports of China platforms. The Insurance Repository the Account Aggregator offerings of
Covid surge. Despite the global volatility business saw improved traction CAMS, and this will help the Company
and slowdown, the Indian MF Industry and the number of eInsurance to solidify its position as a digital public
remained resilient, particularly with accounts that is being opened was infrastructure. This acquisition will also
retail investor participation. on a continuous increase. The CRA further drive CAMS’ vision of providing
CAMS retained its performance levels operations completed the first full year technologically superior products in the
and continued to make significant of operations during the year and analytics space.
progress in operational excellence and eNPS clocked a double-digit market
On behalf of the Board of CAMS,
customer satisfaction. It successfully share and PoP modules went live.
I would like to thank investors,
managed multiple large New Fund MFCentral, India’s first industry-wide intermediaries and all the customers
Offers for Mutual Fund houses all-in-one investment management who avail our services for making us the
smoothly and efficiently. It has also platform which was launched last industry leader. My heartfelt gratitude
geared up to meet the increased year along with other RTA has seen to all the employees of CAMS Group
requirements of the MF industry due increased utilisation by the investors. for their commitment to excel and hard
to the growing volumes. It has been The payments business carried on by work which has enabled the Company
making significant investments in the Company has become a regulated to retain its leadership position. I would
enhancing its operational capabilities, business and the Company has also like to thank our shareholders
cyber security features and received the in-principle approval from who have reposed their faith in us and
technological innovations. Reserve Bank of India for carrying out the Directors on the Board for their
the business as a Payment Aggregator. support and active participation in the
The Company continued to focus on
its growth through multiple avenues. It As part of its efforts to increase its governance of the Company.
has been appointed as the Registrar Non Mutual Fund revenue and for Warm Regards,
and Transfer Agent for Helios and improving its presence in new edge
Navi Mutual fund. The momentum in technology platforms, CAMS has Dinesh Kumar Mehrotra
the Alternatives platform and services acquired a controlling stake in two Chairman
14
MD’s Message
CAMS deepened its digital footprint Mr. Anuj Kumar

in the AIF ecosystem and Artificial Managing Director
Intelligence spaces with the acquisition
of controlling stakes in Fintuple
Technologies and Think Analytics.
Dear Shareholders,
I am pleased to present the Annual Customer Satisfaction SIP registration momentum kept
report for FY23. The year has been The Company’s philosophy as pace to the positive sentiment to
satisfying with the MF Industry posting a reflected in its mission statement – record in excess of 15 million new
positive increase despite the headwinds ‘Our Mission… Your Growth’ – mirrors registrations during FY23. CAMS
of global volatility, inflationary trends serviced Funds garnered 71% of the
our core value of serving customers,
and rising interest rates. Mutual Funds NFO collections and supported new
including investors, intermediaries,
continued to be a preferred choice MF folios to touch 13 million during
clients, employees, and every other
of retail investors and recorded new the year. We maintained our strong
stakeholder. This mindset that drives
highs in the asset base. Enabling the focus on operational excellence for the
our service efficiency has invoked
business growth of MF Industry is core long term with continued investments
deep appreciation from our customers.
to CAMS’ value proposition. Its support in technology and people. CAMS
The recent customer satisfaction
for the industry is engineered through operations, technology, intermediaries’
survey showed a response of 96.1%
superior technology, solutions for new support, digital enablers, customer
of the respondents stating it as very
products, development of new services service and front offices stretched
satisfied/satisfied. More than 40K
and creation of brand-new digital every sinew to ensure high service
conveniences apart from others. We also investors who utilised multiple modes
delivery for these staggering volumes.
made significant strides in other business of touchpoints offered by CAMS
verticals and built momentum in the new responded to the survey.
Milestone events such as Transition of
businesses. It’s a privilege to share the L & T Mutual Fund’s assets to HSBC
key highlights of the year with you. Operational Excellence
MF, change of control of IDFC MF to
Mutual Funds
Bandhan MF and onboarding of NAVI
Financial Performance FY23 marched ahead to see month- Mutual Fund were carried out smoothly
During FY23, the consolidated on-month increase in volumes as without any investor inconvenience.
revenue of the Company was ` 971.83 retail investor participation remained
Crore which was a 6.8% increase steady on the back of their confidence Firmly focussed on client
over the previous year. The PBT in the capital markets and in Mutual convenience, we have used
at ` 380.19 Crore marginally down Funds in particular. Transaction technology and innovatively evolved
by 0.6% compared to the previous volumes scaled to nearly 39 million smart strategies for investor
year. Dividend of 375% inclusive of monthly transactions, catapulting satisfaction. Many of the technology-
the final dividend to be approved by the annual transaction volume to based initiatives that went live during
the shareholders was recommended 466 million, a 12% increase over the the year, enabled the Company to
during the year. previous year. improve its delivery standards.
15
Technology & Cybersecurity CAMS Wealthserv for AIF and PMS is in the process of launching analytical
Adoption of cloud native technology launched in 2021 continued with its solutions suitable for use with the
increased during the year including dream run this year with more than Account Aggregator framework.
hosting of the NPS - CRA platform (the 50 clients signing up for the solution.
first one in the NPS ecosystem) which We, continue to expand our footprint in Recon DynamiX
won commendation as Exemplar GIFT City with 6 AIFs being serviced CAMS Recon DynamiX, an industry
from NASSCOM. Leveraging AI and out of the CAMS branch in the IFSC. agnostic solution, is a robust and
modern API capabilities, we have powerful tool that automates the
Account Aggregator (AA)
transformed business processes such reconciliation process to produce
as reconciliation, customer service AA platform continues to receive high quality and accurate financial
and KYC to enhance customer support from government and statements. Built on the cloud and
convenience and reduce risk. regulators in emerging as a unified imbued with an ability to integrate
financial data sharing platform for with other company systems, CAMS
Cyber-security industry is facing rapid consumers. All large PSU Banks Recon DynamiX is a unique and
advancements because of increased have signed up with AAs. On capital
reconciliation technology solution that
malware attacks across the world. markets, SEBI has issued guidelines
will give users a consistent experience
As the threat landscape continues to to AMCs to Go Live as FIPs through
with single – sign on, without having
grow and is ever changing, CAMS has respective RTAs. Akin to SEBI, PFRDA
to switch between multiple systems.
taken significant actions to improve has issued mandate to all CRAs to
Organisations will gain a global view of
the maturity of the security baseline be live in AA ecosystem. Insurance
the entire recon process with the ability
across the enterprise systems. We Regulatory & Development Authority
to monitor frauds and inaccuracies.
implemented CIS Security baselines / too has written to all insurance
companies to be live in AA ecosystem We have commenced deployment
controls to cloud workloads operating of Recon DynamiX for Insurance
across multiple platforms and and we are seeing traction from all
Insurance companies including private Companies & Mutual Funds’ Asset
improved the overall score to 4.74 out
and PSU insurance companies on both side reconciliation PMS. There is wide-
of 5.0. Security controls across cloud
Life & GI space for onboarding as FIPs spread interest for the platform from
workloads were enabled and hardened
& FIUs (Financial Information Users). across sectors.
as per industry best practices and
continuous monitoring is in place. We Insurance Repository
The AA ecosystem continues to see
continue to sustain BitSight score
expansion in the use cases for which Our dominant position in Insurance
of 800, which is at Advanced level,
FIUs are creating user journeys for Repository space with 5 million
ensuring all existing and new web-
taking customer consent. CAMS eInsurance policies is opening new
based applications and interfaces meet
is taking the lead among AAs to vistas and opportunities. CAMS Rep
the rigorous and heightening standards
evangelise about this path breaking has embarked on an ambitious project
of BitSight.
initiative. – Reimagine - to build a platform that
Beyond Mutual Funds allows policyholders to understand and
Acquisitions access all their policy benefits through
We made significant progress in our
CAMS deepened its digital footprint single window. Our most recent efforts
businesses beyond Mutual Funds as
in the AIF ecosystem and Artificial include the launch of the following:
highlighted below:
Intelligence spaces with the acquisition
of controlling stakes in Fintuple Digital Policy Platform - Instant
AIF and PMS policy conversion to electronic
Technologies and Think Analytics.
Our market leadership in the Fintuple is a new-age start-up that has forms
Alternative Investment Fund (AIF) launched niche technology offerings Insta eIA - Real-time creation of an
and Portfolio Management Services in the areas of digital on-boarding e-Insurance account
(PMS) services space further solidified of clients, KYC, fund data, fact
during the year. We now cater to sheets and analysis and other digital Digital Loan Assignment Platform -
130 fund houses (375+ schemes support solutions for AIFs, PMS and Digitising the entire loan policy
across investor servicing and fund Custodians. Think Analytics, offers assignment process, bridging the
accounting services) and service over Software as a Service (SaaS) based current gap between financiers,
` 1,50,000 Crore AuM. Our feature products and data science services to insurance companies, and
rich digital onboarding solution – its customers in India and abroad and policyholders
16
With IIT Madras launched Fintech Innovation Lab to focus on ushering innovation &
unravelling unique possibilities in the Fintech. This aims to be a world-class hub for research
and applied technologies in financial technology space. The lab will see development of
hi-tech solutions addressing the needs of the BFSI sector and will help develop Innovative
Fin Tech models to drive Financial Inclusion.
Deep contact tracing solution for the company was formed, and the unfold as capital market players and
unclaimed processing using AI and Board also approved the ESG Policy the larger financial services segment
new gen technology of the company. CAMS continued to onboard the platform and participants
focus on the areas of Education and begin to derive business benefits.
CAMSPay Health care across the country as part CAMSPay’s differentiated payment
The company received the in-principle of its CSR activities. It also continued solution stack is tuned to payment
approval from RBI to operate as a its efforts towards the environment needs of financial services industry.
Payment Aggregator in February 2023. conservation. The company operating as financial
The business is witnessing higher technology infrastructure and offering
level of market growth thanks to the CAMS also partnered with IIT – niche technology products is well
rapid strides made by UPI. CAMSPay Madras for setting up and running positioned to serve the larger capital
is betting on UPI Autopay to ride this three Rural Technology Centres in markets and the BFSI segment and
wave as compared to expanding Tiruvallur District of Tamilnadu. The capitalise on these fast-growing
on UPI since it is currently on a centres work with local high / higher sectors.
zero-commission model. CAMSPay secondary schools and colleges and
growth has aligned with market the services are entirely free to the In conclusion
trends on focussed segments with students. CAMS is also setting up the On this positive note, I thank all of you
the introduction of new-age payment “CAMS - IIT (M) Fintech Innovation for the continued support and trust
methods like UPI AutoPay, Paybylink, Lab (CIFIL)” – a world-class hub for in the Company. I am grateful for the
mobile app for seamless recurring research and applied technologies contribution and guidance provided
payments and QR based payments. in financial technology. The initiative by the Board to help us stride through
is part of the CAMS CSR initiative this year of opportunity and honour
Central Record Keeping Agency to focus on ushering innovation our commitments to the various
Services and unravelling unique possibilities stakeholders we serve. CAMS has
in the Fintech space. Ms. Nirmala also benefited from the guidance and
CAMS CRA successfully launched
Sitharaman, Hon’ble Union Finance responsive support of the Regulators
NPS operations as a Central Record
Minister, inaugurated the lab in for which I am thankful.
Keeping Agency (CRA) in March
December 2022.
2022. CAMS aim to build the best and
forward-looking solution for partners The efforts of CAMS to enhance the
Outlook technology-based solution offerings
and subscribers has led to many firsts
in the industry. These include cloud The MF and Alternatives industry has for the clients will continue. With our
hosting, comprehensive API stack for grown exponentially and is expected range of innovative and differentiated
subscriber onboarding and servicing, to continue the growth momentum services and products, backed by
multiple KYC options for registration, due to declining attractiveness of hard powerful technological and digital
customised process flows to meet assets and increasing preference support systems and a committed
the business partners’ requirements. of financial assets across customer workforce, I remain confident of our
CAMSNPS platform for the PoPs segments. With international investors’ ability to serve our clients and continue
and Corporates have been made preference for India in Asian market to create impact for them.
operational. A complete bouquet of and an enabling regulatory framework,
services and onboarding options are the asset management industry is on Sincerely,
being offered. a strong foundation to scale. As the Anuj Kumar
leading platform and services partner Managing Director
Focus on ESG and CSR to this segment we are prepared to
support this growth. Momentum in
During FY23, a Board level committee
the Account Aggregator arena will
for overseeing the ESG initiatives of
17
Key highlights FY 2022-23
Our value impact across

stakeholders
CAMS: Leader in India’s MF space
` 9,718.27 million ` 421.23 million ` 2,852.48 million

Revenue from operations EBITDA Profit After Tax
` 58.26 ` 37.75
Earnings per share Dividend paid per share
Ensuring efficient services to customers
` 27.3 trillion ` 35.4 million ` 465.7 million

AAuM serviced SIP book Transaction volume handled
( 7% over FY22) ( 18% over FY22) ( 12% over FY22)
15.3 million 25.7 million 57.4 million

SIP Transactions handled Unique Investor Serviced Live investor folio
( 12% over FY22) ( 11% over FY22)
112.8 lakh ` 151.8 trillion

Investor service requests Processed as pay-in/pay-out
( 27% over FY22)
18
Creating employment and driving people development
2,783 29.46% 26,252 hours

Employees hired Women employees as a % of total Average training hours
Building better communities
` 6,37,64,260 6,500+
Consolidated CSR spend CSR beneficiaries
Contributing to better planet
2.50 GJ 9,38,02,080 kl
Energy consumption Water consumed
Focus on digital
transaction
eliminating use
of paper.
19
Business model
Our Value Creation Model

CAPITAL INPUTS OUR PRINCIPAL BUSINESS ACTIVITIES
Financial
• ` 7,824 million Equity `
Mutual Fund Services

Business
• World-class IT platform and mobile applications

Electronic Payment Solutions
Intellectual
• Expertise in MF RTA services, handling four of and Payment Aggregator

top 5 and top 10 of 15 MF
• 800+ qualified professionals in IT team
Insurance Services
Business
• 26,252 hours of training to employees Alternative Investment Fund

Human
• Focussed on inclusivity and diversity Services Business

• Experienced and diverse executive team and Board
KYC Registration Agency

Business
• 280 service centres across 25 states
Manufactured
• 5 call centres
Software Solutions
• 729 call centre employees Business
• ` 807 million capex for land building, improvements in
property, furniture and office equipment
Account Aggregator
Social and Relationship
• ` 63.76 million CSR spending

• 57.4 million live investor folios
• 25.7 million unique investors serviced Enabled by
• 93% customers highly satisfied
World-class,
difficult to replicate Integrated and
• Robust digital infrastructure to reduce travel, customised portfolio
technology-
Natural
paper consumption and energy usage driven infrastructure of services

• Sustained efforts to reduce waste and water and
energy consumption
20
OUTPUTS CAPITAL OUTCOMES
• ` 9,718.27 million Revenue from operations `

• ` 3,801.87 million PBT
• ` 2,852.48 million PAT
Financial
(After eliminating Non-controlling interest)
• ` 4,822 million cash and cash equivalents
• ` 58.26 EPS
• ` 1,848.34 million dividend
• ` 9,95,501 million market capitalisation
• NIL Net Debt
• Largest MF RTA with 69% market share

Intellectual
• myCAMS most preferred app for MF transactions with

5.8+ user base
• 769 million SMS generated for investor servicing
Read page 08 for outputs
on respective businesses
• ` 3,580.82 million paid in Employee benefits expense

Human
• 29.46% women employees

• 51% employees under 30 years
• Digitised branch services

Manufactured
• Call centres having real-time connectivity

• Continuous availability and data replication and redundancy
• 389 PPM (parts per million) error
• 99.96% transaction quality
Social and Relationship
• 17 MF clients
• 57.4 mn live investor folios
• 96% customers highly satisfied
• 6,500+ CSR beneficiaries
• ` 22,442.32 lakh direct and indirect taxes paid
`
Deep domain • Digital services resulting in paperless transactions
Service centres,
knowledge of
call centres and • Robust digital infrastructure to reduce travel, paper
Natural
MF investors
back offices consumption and energy usage
and business
• Sustained efforts to reduce waste and water and
energy consumption
• 100% e-waste disposed as per regulation
21
Strategy
Pursuing our Strategy

At CAMS, we have established competitive advantage around technology which has enabled us to
remain market leaders, sustainably grow business and create value for stakeholders. Keeping these
objectives at core, we have set our business priorities to consolidate leadership in mutual fund
business, grow new businesses and remain at the forefront of innovation.
Our strategy
Strategy Key actions taken in FY23 Priorities for FY24

priorities
1. • Leveraged digital platforms myCAMS, edge360 • Take the recently onboarded mutual funds like
and MFCentral to digitise and enhance MF Zerodha and Helios live
Consolidate transaction journey
core MF RTA • Continue to aggressively pursue new client wins
• Maintained track record of CAMS serviced clients from new MF applicants
business
growing faster than the industry
• Foray into adjacencies for our clients like data
• Expanded product suite for MFs to new areas
analytics and AI
(i.e. Wincentive, Vision, UPI and APIs for AMCs
and intermediaries) • Support the growth for our clients through new
• Successfully onboarded three new MF Clients technology and digital solutions
2. AIF AIF
Build new • Strengthen the offering for the industry using • AIF will continue to be a focus area in FY24
business of AIF, the expertise of Fintuple Technologies acquired • Continue augmenting our digital solutions to
NPS, Insurance during the year improve the customer experience in this industry
repository • Strengthened onboarding supported by Fintuple, • We will expand our offering suite with new services
and Account WealthServ digital onboarding and existing and to new segments/geographies
Aggregator operations
NPS
• Operationalised GIFT City operations
• We will continue to augment our product offering
NPS in this business with new offerings like mobile app,
NPS Lite etc.
• Leveraged the cloud-based CRA platform to
enable seamless registrations • Remain focussed on providing superior customer
experience with best-in-class C-SAT scores
• Extended to point of presence
• Targeting pension customers and UPI-based bank
account verification
3. Implemented measures for cultural change in line with The company will evolve into a technology product
transformation into a technology product company company with Analytics, artificial intelligence, cloud and
Invest in blockchain across all solutions.
reinforcing
technology edge
22
Stakeholder engagement
Engaging and creating value for

stakeholders
We maintain sustained engagements with our stakeholders to identify and address their needs, and
build long-term relationships. They are critical to executing business strategies and assists us in
identifying risks and opportunities relevant to our business, thus driving our long-term success.
Mode of engagement
Corporate reporting, business meetings
Clients
(MF/AIF/PMS/financial
Their needs and expectation
institutions)
• Sophisticated technology for cost efficiency and seamless operations
Quality of relations:
• Regulatory compliance in dynamic environment
• Responsible practices and excellent customer services for enhancing
Falling short Excellent brand credibility
• Trustworthy relationship
• Data protection and cyber security
Company response
• Launched new technology-led products in line with regulatory
developments
• Ensured completion of transactions within defined timelines
• No instances of cybersecurity attacks or data breaches
23
Mode of engagement
Service centres / call centres, omni channel support (telephone, website,
email, app, chatbot, postal communication), customer satisfaction surveys,
Customers
digital and social media activities, investor connect programmes
(mutual fund investors,
insurance policy holders,
NPS subscribers, customers
of financial institutions) • Ease and convenience of transactions across diverse platform
Quality of relations: • Continuous upgrade of digital platforms

• System reliability
• Data protection
Falling short Excellent
Company response
• Ensured high customer satisfactions across MF, NPS and insurance
businesses
• Significant reduction in the complaints
• Ensured increased customer satisfaction
Mode of engagement
Investor / analysts meets and dialogue, press releases and results
Shareholders / Investors conference calls, annual general meeting, website, media releases
• Sustainable profit, dividends and capital appreciation
• Financial prudence and robust balance sheet position
Falling short Excellent
• Transparent and timely reporting with disclosure of material matters
• Strategy for long-term growth
• Robust enterprise risk management
Company response
• Focussed on enhancing non-MF revenue, especially in areas having
long-term potential
• Strategic acquisitions made to strengthen competencies
24
Mode of engagement
Open dialogue culture, personal reviews, surveys, townhall meetings,
Employees employee portal, wellness and engagement initiatives
Quality of relations: Their needs and expectation

• Career growth prospects
Falling short Excellent • Health, safe and wellness

• Learning and development opportunities
• A diverse, inclusive and supportive workplace
• Job security
Company response
• Running multiple learning and development programmes to support
career growth and drive leadership development
• Providing forum to express views and engage
• Supporting women to re-join work post sabbatical
Mode of engagement
Dialogue over phone and digital medium, media publications, distributor
connect programmes
Distributors
Quality of relations: • Innovative technology platforms
• Availability of IT systems
Falling short Excellent • Speedy response to queries
Company response
• Empowering digitally with MF Central and edge360 portal
• Support for knowledge building
• Full-fledged contact centre to provide services and assistance
25
Mode of engagement
CSR programmes, local community engagements, media publication,
Society and planet communities CSR / sustainability reporting
Quality of relations: Their needs and expectation

• Local development
Falling short Excellent • Employment opportunities

• Responsible business practices
• Sustainable use of natural resources
Company response
• CSR programmes around education, supporting vulnerable sections like
senior citizens and women
• Tree plantation
• Focus on reducing waste, water and carbon emission and investing in
renewable energy
Mode of engagement
Joint working groups, advocacy meetings, committees and conferences,
membership in local enterprise, partnership with industry bodies
Regulators and
government Their needs and expectation
• Regulatory compliance
• Contribution to governmental development plans and to the fiscal
through fair tax payments
Falling short Excellent • Ethical and responsible work practices
Company response
• On-time tax payments
• Introducing products aligned with compliance
• Adherence to laws and regulations
26
Materiality
Determining and managing

priority matters
At CAMS, our engagements with internal and external stakeholders help us in identifying urgent issues
that can impact our ability to create value for all. It forms the basis of shaping our strategy, and helps us
in making the organisation more resilient in the long term.
Material matters determination process

We have not taken any formal materiality exercise during FY23. However, based on our ongoing engagements with all
stakeholders and inputs from in-house teams across all businesses and functions, we have arrived at various material
matters. These matters have been further shortlisted based on peer benchmarking and the degree to which they can impact
our business objectives.
Materiality matrix
M5 M9 M1
High
M4
M3
M10
Importance to CAMS
M6 M7
M8
M2
Low
Low Importance to CAMS High
• M1 – Financial performance • M6 – Client relationships

• M2 – Competitive landscape • M7 – Governance and risk management
• M3 – Innovation and IT deployment • M8 – Talent attraction, retention and development
• M4 – Stability of systems and processes • M9 – Conduct and ethical practices
• M5 – Data protection and cyber security • M10 – Regulatory compliance
27
How we address material matters
Material matters How CAMS is addressing
Financial • Continued growth in existing businesses and diversification to newer business lines
performance
Competition • Maintained market leading position across most business

landscape • Powerful technology, business processes and sustained new product development provides
competitive edge
Innovation and • Robust investments in innovation and technology enhancements, including adoption of
IT deployment emerging technologies like analytics and AI to help clients make better decisions and cloud to
ensure speed, agility, scalability and security
• Transformation into a technology product company and engagement of Chief Platform Officer
to lead modernisation
• Launched CAMS IIT-M Fintech Innovation Lab (CIFIL) in collaboration with IIT Madras to
accelerate financial technology related innovations
Stability of systems • Regular audits and updation of technology

and processes • Regular BCP and DR drills
• Ensuring availability of Two times capacity than the maximum transaction volume
• Data replication with clients
Read page 120 for more details
Data protection • Deployed multiple new-age technologies to deepen security monitoring on all strategic entry
and cyber security and exit points
• Cyber security and cyber resilience policy with practices meeting ISO 27001:2013
requirements of information security systems
• Dedicated technology committee of eminent specialists to review processes and systems
Client relationships • Managing large part of operations with utmost efficiency to help them focus on and grow core
business area
• Ensuring compliance with regulatory
Governance and • Robust risk management practices further improved with KPMG recommendations
risk management • Solid governance framework with Board oversight
Talent attraction, • Providing good workplace with high engagement level, continuous training, and focus on
retention and diversity, inclusion and equal opportunities
development Read page 41 for more details
Conduct and • Robust governance with majorly independent Board

ethical practices • Commitment to highest standards of governance supported by governance structures,
policies, processes, and controls
• CAMS Code of Conduct and presence of various policies for vigil mechanism, whistle blower,
employee safety, POSH and anti-corruption and bribery
Regulatory • Constant dialogue with the regulatory

compliance • Business teams continually tracking industry developments
28
Risk management
Ensuring best-in-class risk

management and controls
The Company has an oorganisation-wide ERM framework, reviewed annually by the Board, best-in-class
standard, clearly aligned to the environment in which it operates, which has been detailed as part of the
MDA which can be referred at page 116.
To augment the Risk Management Framework, the services of an external entity - KPMG were utilised
and based on their recommendations, enhanced risk governance was implemented which included
embedding Risk Management with First Line of Defence, Introduced Risk Champions, Strengthened
three Lines of Defence, and Documentation in respect of ERM, Risk Appetite and KRI were enhanced.
Risk Governance at CAMS
01 Board of Directors
02 Risk Management Committee

of the Board of Directors
03 Internal Risk
Management Committee
04 Risk, Compliance and Audit Team /

Business Units
Highlights of Enterprise Risk Management in FY23
Cybersecurity Risks • The Company has implemented technology-driven innovative solutions

Due to the volume of sensitive data that the to ensure that best-in-class security practices and controls are in place,
company manages, it is susceptible to highly including the following:
targeted cyber-attacks that try to exploit security • Darktrace Enterprise Immune System that uses new ML-led
flaws. The Company has embraced digital model algorithms for monitoring and detecting unpredictable threats
for most part of their operations, where data • Enterprise security assessment solution (SAFE) that continuously
flow is necessitated with various stakeholders, monitors and assesses multiple vectors, and provides a score
who may or may not have necessary tools and (Current score at 4.74 out of 5.0)
technology to protect the data. Company’s
• Endpoint Detection Response (EDR) solution that uses AI / ML
inability to safeguard the data from Cyber-attacks
algorithms for determining systemic steps to mitigate unknown cyber
/ breaches would adversely impact the reputation
threats or abnormal behaviour on the endpoint desktops and laptops
and non-compliance, which may lead to losses.
• A Technology Committee, consisting of Industry experts in the field
`
Capitals at risk: oversees the cyber governance and provide necessary guidance
• Risk-based security assessments including Vulnerability Assessment (VA)
KRI monitored: BitSight score which indicates
of applications, Vulnerability Assessment and Penetration Testing (VAPT)
the overall security posture is monitored - This is
of infrastructure, Periodic simulation and testing to assess effectiveness of
presently at an all-time high of 800.
controls, Awareness program for employees are carried out
29
Operational Risk The Company has a strong Operational Risk Management Policy which
Operational Risk refers to the risk of loss broadly covers:
of various types (Financial / Reputational / • The Risk and Control Self-Assessment Framework (RCSA)
Compliance / Clients) on account of inadequate • Critical Incident Management and Reporting
or failed internal processes, systems, and
• Operational Loss Appetite Levels (Restricted Actions)
people or from external events, that could lead
to significant monetary and reputational losses. • Strategies / Mechanisms for monitoring and mitigation of Operational
There can also be frauds perpetrated by third Risk
party. • Training is imparted on the Operational Risk, across the organisation to
` raise awareness and bring the required risk sensitisation
Capitals at risk:
• New products, processes and regulatory implementations are always
KRI monitored: Critical Incident Reporting approved by the risk management function prior to roll out
tracker and proactive monitoring of potential • The Company has developed solutions using advanced algorithms
risks. and data analysis, towards fraud detection models, which support in
identifying the fraudulent transaction with speed and accuracy
Regulatory Risk • The Company has an in-house compliance team that monitors
Our businesses are guided by various regulators compliances with dedicated functional heads. To support the team, the
which subject us to periodic audits from them. Company also engages external experts
Any non-compliance to regulations could result • The Company has implemented a process to identify known outliers
in observations from authorities like SEBI, on real-time basis to undertake remedial measures and explore further
IRDAI, RBI, MCA, PFRDA which can expose us automation of the platform for avoiding recurrence of the risk
to warnings, penalties and even cancellation of
licenses.
`
Capitals at risk:
KRI monitored: Internal compliance monitoring

tools including Legatrix – which is an external
third-party tool for identifying any potential
violations or defaults.
Compliance Risk • We have an extensive system for monitoring compliances with dedicated
We are required to comply with a host of functional heads tasked with specific areas and have also engaged
regulations like reporting to government agencies external experts on retainership to provide necessary across all areas
and regulators and timely, error-free fulfilment of • We undertake to carry out multiple audits for ensuring all compliances,
regulatory requirements. Any default could result the findings of which are reported to the Audit Committee/Board at its
in fines and penalties. Meetings. Further, we ensure all audit /other related mitigating avenues
`
that have been identified are implemented
Capitals at risk:
KRI monitored: Internal compliance monitoring

tools including Legatrix – which is an external
third-party tool for identifying any potential
violations or defaults.
Concentration Risk • The Company has forayed into multiple business offerings which
Client Servicing is becoming increasingly enhances the client base
complex & dynamic, and the Company is • The strong brand value, offer of innovative products and top-class quality
required to ensure utmost client satisfaction management ensures client satisfaction
to retain the existing clients. As the company
services limited number of clients and its revenue
is concentrated on those set of clients, the
concentration is considered as a risk.
30
`
Financial capital
Delivering resilient performance

and creating value
FY23 reaffirmed our ability to grow business consistently on the back of a solid, asset-light business
model that enables high scalability with minimal incremental funds deployment. This contributes to
high free cash flow generation post meeting working capital requirements, enabling us to deliver better
returns to shareholders as well as invest in growth opportunities.
SDG impacted:
A high return on capital of Robust EBITDA margin at Solid balance sheet with
49.84% *
49.84% *#
despite increased Zero debt* and cash and
investments in new technology and cash equivalent of ` 4,822 million*
business initiatives
Cash and cash equivalent

` 4,822 million*
*as on March 31, 2023

#FY23
31
Total income EBITDA (Non IND AS) EBITDA margin (Non IND AS) EBITDA (IND AS)
(` lakh) (` lakh) (%) (` lakh)
99,864.02
42,412.94
40,040.00
42,123.18
39,356.00
92,694.19
73,525.45
72,087.24
71,170.71
46.6
29,601.36
28,657.04
27,268.90
26,150.28
42.6
41.0
40.5
21,790.95
21,790.95
31.4
FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
7% 13% 14%
5-year CAGR 5-year CAGR 5-year CAGR
EBITDA margin (IND AS) Profit after Tax* PAT margin Net worth
(%) (` lakh) (%) (` lakh)
28,694.69
78,247.20
28,524.83
64,763.78
20,529.13
46.6
31.0
54,885.64
27.90
51,587.17
43.3
28.6
42.0
17,189.22
41.0
45,174.77
23.80
13,517.73
31.4
19.0
FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023
16% 12%
5-year CAGR 5-year CAGR
RoNW Earnings per Share Dividend per Share Revenue breakup

(%) (`) (`)
58.73
51.00
58.26
44.3
39.9
39.8
38.56
37.75
42.08
31.3
75.90% 76.20%
29.9
35.24
27.61
22.47
12.18
14.30% 13.70%
9.80% 10.10%
FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2019 2020 2021 2022 2023 2022 2023
Non-Mutual Fund
16% MF (non-asset based)
5-year CAGR MF (asset based)
* After eliminating Non-Controlling Interest
32
Manufactured capital Intellectual capital
Reinventing to reinforce our edge

as a fintech
We have world-class technology infrastructure and tech-enabled products and services created through
decades of expertise. Our offerings are user-friendly, seamlessly integrate with partner ecosystem and
ensure omni-channel experience. We have also mainstreamed the usage of AI models, analytics and
cloud to ensure agility, reliability and scalability. These give us a definitive edge in the industry and
support our growth.
SDG impacted:
CAMS technology and service delivery capability
Technology infrastructure capacity
1,381 365+ 5.8+ PB 700+ TB 36

servers N/W Devices storage RTA DB size #N/W links
54.6 Gbps 2 Gbps 840+ Mn 780+ Mn 150

Network bandwidth Internet bandwidth Emails per year SMS per year Applications
Physical infrastructure capacity
6 3 800+ 729
Offices Data Centres IT team strength seats across five call
centres for analytics
driven campaign
management and for
investor services
All metrics as on March 31, 2023
33
Digital excellence at CAMS

We have strategically developed single code
base platform that alongside offers multiple
Customer
services to customers, ensures integration
centricity
across different domains. This eliminates the
need to repeat service requests across them,
a challenge that exist in traditional financial
Straight-through Single source services which operate in silos.
processing of truth
Our platforms are designed to deliver
Pillars of digital personalised offerings and enables customers
strategy at CAMS to pick and choose across different AMC and
schemes, perform non-financial transactions and
change details for each of their assets through a
single window. Our account aggregator service
Insights
Security further helps clients to gain asset details while
playing a unique role in connecting financial
information providers (FIP) and financial
information users (FIU).
Inline AI (artificial
intelligence)
Digital Onboarding
eSign Dervices AML Checks
Creating a 360-degree
digital stack for
eKYC Solutions Validation Services
the capital market
ecosystem
34
Leading with powerful, world-class platforms

Our operational excellence and ability scalable, they are enabling us to strengthen our competitive edge. We
to provide a superior experience to ensure high quality services, cost- are increasingly embedding analytics
our clients, investors, and distributors efficiencies and bandwidth to handle and AI / ML models in our platforms.
is a result of significant investments 2x volumes of the current level. Further, all new platforms are being
in technology and developing With the financial landscape conceived on cloud-native platforms
technology-based platforms and increasingly being disrupted with which ensures speed-to-market,
properties. Our solutions have played advanced digital technologies and instant scalability, high reliability and
a significant role in catalysing growth increasing customer proclivity to robustness while keeping customer
of the Indian Mutual Fund industry. them, we, at CAMS, are investing experience at core.
Being functional, integrated and heavily in technology and products to
Our key platforms and their performance in FY23

and transact across CAMS serviced unique features. It achieved significant
MFs. It further offers digiLoan, milestones in FY23 becoming the
whereby loan can be seamlessly largest mobile app in MF space,
and digitally availed against MF fintech app to add most users and a
units due to platform integration with preferred partner for CAMSPay. We
myCAMS banks and NBFCs. It is witnessing are planning to revamp of UI/UX of the
A B2C mobile application which lets significant traction due to its anytime, app with multiple language options to
retail MF investors manage portfolio anywhere convenience and other achieve new milestones.
myCAMS in FY23
Largest mobile app Most new user addition CAMSPay emerges

in MF space with 5.8 million among the Top 3 as the preferred
registered users as on
March 31, 2023
Fintech apps with gross payments partner
inflows of over ` 9,000 Crore in FY23 in myCAMS with 7.9 Lakh
payments processed for FY23
35
MFCentral standardised and uniform processes, non-financial transactions (digital and

This one-of-its-kind digital solution is inter-operability and future-ready scan-based).
enhancing investor experience through architecture, the platform is scalable
its unique single-window view solution, and fast, and also supports fungibility The platform has been well-received
which allows them to get their lifecycle of physical and digital services. It by the investors, and the registrations
engagement and transact across further offers the convenience of and financial transactions on it are
the entire MF industry in a digitised generating unclaimed payments expected to scale with focussed
and automated manner. Having reports and raising service requests for marketing efforts.
MFCentral in FY23
1,300 to 1,500 340k + 1,400 to 1,600

per day downloads per day
– user registration trend – Mobile App – Request
10K-15K per
day
– Daily login
edge360
Our mobile and web-based platform that helps distributors and advisors to streamline MF operations. The platform is recording
steady adoption and usage, owing to its robustness along with the extensive marketing efforts and webinars to promote it.
edge360 in FY23
64,600 registrations as on 19 lakh+ transaction 42K+ mobile app downloads

March 31, 2023 (↑23% vs FY22) volumes, all-time high since launch
GoCORP - Portal for Institutional participating MFs. The CAMS DAIS

Investors (Digital, Analytics and Intermediary
A market-leading platform for Services) team remains focussed
Institutional investors, facilitating single on enrolling more corporates for
gateway to transact across multiple institutional transactions.
GoCORP in FY23
` 2.2 trillion of institutional assets AUM serviced as on March 31, 2023

(i.e. 18.8% of total CAMS Serviced funds’ Institutional assets)
36
CAMServ revamped to deliver a clutter-free and

A customisable, self-service chatbot enhanced experience to investors, and
that is available on CAMS website, to offer new financial transactions such
six AMC websites (as a white labelled as Switch, SIP, STP/SWP along with
service) and on WhatsApp. CAMS lumpsum purchases and redemptions.
Chatbot (CAMServ) has been
eKYC to on-board new MF investors, it is drop mechanism in line with SEBI

CAMS was amongst the eight entities enabling hassle-free KYC process regulations.
to launch eKYC using OTP-based digitally. It further incorporates
Aadhaar authentication. Large number advanced techniques like OCR tools We have further enhanced it by
of new investors use it daily with to retrieve the information from the providing an option to integrate with
around 70-73% conversion. Launched image and bank validation via penny digiLOCKER.
Loan against MF holdings with partner net banking digital platform, digiLoan in FY23
digiLoan eliminating need for separate login
digiLoan empowers customers of over
20 banks and NBFCs who have signed
and redirecting the customer. It also
enables lien marking of MF units
` 10 million
for both either or survivor mode of loans financing against pledged
with us, to get loan up to ` 1 Crore
holding too, thus widening its scope assets facilitated
by pledging their debt and/or equity
mutual funds in a completely paper- and promoting product adoption.
less, digital process. Additionally, feature for online lien
invocation/revocation via APIs has
14,600
been made available to the financiers. transactions facilitated
We have deployed a new Consolidated
Account Statement based process The said features are being provided
flow that seamlessly integrate with the to both existing and new clients.
CAMS WealthServ features for on-boarding non individual CAMS WealthServ in FY23
It is our digital onboarding platform for clients and NRI customers, which has
AIF and PMS investors, and has been been well received. We will continue
to drive partnerships with more
1,200+
highly appreciated by the alternatives investors onboarded
industry. Over 1,200 investors custodians to significantly strengthen
onboarded through the platform its market position.
in FY23. We have augmented its
37
NASSCOM Cloud Innovator of the Year Reinforcing commitment to Innovation

In an endorsement of innovation excellence, CAMS was CAMS acquired 55.42% equity stake in Think Analytics
awarded the “Cloud Innovator of the Year” award in the India Private Limited (TAIPL), making it a subsidiary. Its
large company segment at the NASSCOM Enterprise Cloud subsidiaries Think Analytics Consultancy Services Private
Adoption Awards 2022. The award was presented for the Limited and Think360 AI, Inc., are now our step-down
implementation of CRA-NPS platform on the cloud. subsidiaries.
Think360 AI offers SaaS-based products, data science, and

technology advisory services to BFSI, Pharma and retail
companies. Their portfolio is a great fit for CAMS, and will
help us strengthen our overall market reach in the BFSI and
capital markets space.
38
Environment Social and Governance section
Being committed to sustainable

development
Environment, Social and Governance (ESG) practices have become critical to ensure a future that
is environmentally safe and socio-economically stable. As a tech-enabled finance company, we are
uniquely positioned to play our role in this. At CAMS, we are taking proactive actions for the welfare and
benefits of all stakeholders in a responsible and accountable manner. We believe this is the right way
forward and will enable us to create long-term value.
Our approach
At CAMS, we are cognizant of our responsibilities to our Additionally, a Board-level ESG committee has been
stakeholders, planet and the society, and the critical role constituted to monitor, evaluate, and provide guidance
they play in our value creation. Starting FY23, we have on our ESG policies, procedures, and practices as well
undertaken a more holistic approach to ESG matters, as public disclosures. We are further in the process of
and have implemented a Board-approved ESG policy. developing a roadmap to progress on ESG-related aspects.
39
Pillar 1: Environment
Operating responsibly for

a better planet
SDGs impacted:
Restoration of Karanipettu Lake in Vallam village at Kancheepuram District of Tamil Nadu

CAMS during the year supported the efforts of Environmentalist Foundation of India, which focusses on scientific
revival of freshwater bodies through a community-based collaborative conservation effort in restoring Karanipettu
Lake in Vallam village at Kancheepuram District. The restored lake has an increased storage capacity and has
also ensured Enhance Flood resilience. As part of the restoration, the embankments of the lake has also been
strengthened and has been fenced for restricting Garbage Dumping and Pollution.
40
Pillar 2: Social
We are inspired to drive the social, economic and emotional well-being of our people i.e. employees,
communities, clients and the investors. Our engagements with them are helping us to create net positive
impact. We value their trust and support, and are focussed on growing together with them.
SDGs impacted:
Ensuring the well-being and

development of our employees
At CAMS, we are empowering our people with a workplace that nurtures their competencies and drives
their success. We are ensuring this with pioneering programmes around learning and development,
diversity and inclusion, and thought exchange. These efforts while driving engagement levels are
unleashing people potential for our long-term success.
Empowering a culture of programmes to strengthen leadership partnership with Crestcom, a leading

continuous learning skills and pipeline including: training organisation. In FY 2022-23,
Our HR practices is centred around 21 leaders undertook behavioural
attracting and retaining best talent CAMS Leadership Patshala assessments and attended monthly
while nurturing their skills. Our CAMS Leadership Patshala is a one- training sessions on key leadership
reputation as an employer of choice year, focussed intervention to coach areas.
and ability to provide future-ready and mentor senior leaders executed in
competencies, has enabled us to
build a solid team with best minds in
the industry. In our strive to become
market influencers, we continuously
enhance people competence and
capability levels through innovative
and forward-thinking interventions.
The CAMS Culture Code, outlining

key behavioural traits and thought
processes, supports this goal. We
have distributed booklets on #3C –
CAMS Culture Code and Leadership
Code to managers, and conduct unit-
wise townhall meets to disseminate
the core leadership message. We
also offer high-intensity learning
41
Executive Management Program training programs on collaboration at on business continuity plan (BCP),
This year, we introduced ‘Executive work, thinking skills and OTIF (On- ISO and enterprise risk to enhance
Post Graduate Program in General time-in Full). Over 100 people have the employee awareness on these
Management’ to groom high-potential undertaken such learning, and we topics. A cross-functional training was
employees as future leaders. It covers intend to further widen its usage. conducted in Coimbatore office for
new-age topics like AI and ML in BCP-readiness, training nearly ~60
addition to the traditional management Reinforcing people competencies in employees.
curriculum. 14 high-potential managers Mutual Fund operations
have successfully completed We mandate NISM training and We also conduct deep-dive sessions
classroom courses and are now certification for all employees before on all MF functional areas for
working on operations management joining units to ensure regulatory Sterling employees, to enhance
projects. compliance. Apart from this, we their knowledge quotient. Nearly,
facilitate ongoing skill development 100 people benefited through these
Gamifying learning and certification programmes for sessions.
Gamified learning is an interesting and various core functions. In FY 2022-23,
effective way to train employees. We 700 employees benefited from this.
have introduced board-game-based We have launched eLearning modules
FY23 learning and development at CAMS
26,252 2,635
manhours of training and skill employees trained and upskilled
development
42
Sustained dialogue with CAMS

Communication Frame (CCF)
Employee views and feedback are
critical to enhancing people and
business practices. With CCF, we
have provided a platform for free
flow of communication, helping
us in improving engagement and
satisfaction levels of employees.
Encouraging diversity, equity

and inclusion
We take pride in our workplace
which has diverse representation
of employees across gender, race
and religion, and provides equal
opportunities to all. Enhancing women
participation is an important focus
area for us, which is being achieved
through women-friendly policies and
programmes.
Diversity at CAMS
Gender diversity Diversity by educational qualification
29.46% 851
Female
Post-graduates
4,969
Graduates 1
PhD.
70.54%
Male
Better workplace with

Communities
CAMS Communities is a unique
employee-led engagement model. We
have communities for arts, wellness
and intellect, and through the year
they help engage employees in
unique ways. It is witnessing excellent
traction, with many employees getting
a flavour of how a vibrant workplace
should be like. All the employees are a
part of communities.
43
Deepening and growing relations

with clients
The success of our clients, the AMCs and other financial institutions, are inextricably linked to our ability
to efficiently manage their operations, so that they can focus on core business. This enables them in
delivering superior experiences and creating wealth for their customers (the investors), thus enhancing
their reputation.
Empowering insurance companies with world-class solutions

The insurance business is redefining policyholder experiences by providing
4.2+ million
KYC facilities, real-time e-Insurance account opening, policies in demat e-Insurance accounts opened
form and tracing customers to benefit them with unclaimed amount.
The Company has assisted
Insurance companies to
The insurance companies have also shared data for unclaimed policies for
the extent of ` 800 Crore in
deep contact tracing, a specialised service launched by us in the previous
identifying the policy holders
year. The service enables them to locate policy holders who have stopped
in respect of unclaimed
paying their premium and are entitled to claim certain refunds/benefits.
benefit amount.
44
Delivering frictionless financial

service experience to investors
We specialise in delivering services in a personalised and frictionless manner, with high speed, accuracy
and safety along with providing omnichannel access for queries and grievances. These are some of the
many reasons why investors prefer our clients whose operations we support. We continue to invest in
these to strengthen our reputation as a world-class solution and service provider to asset managers
across asset classes.
Taking the service experience a Personalised and frictionless Grievance redressal

notch higher experience with digital Grievance Redressal Mechanism at
We prioritise delivering superior We have introduced multiple RTA or concerned Mutual Fund
experiences to our clients’ customers technology-enabled platforms that offer • Investors shall check the website of
including the MF investors and investors the advantage of seamless, CAMS for the dedicated grievance
distributors, NPS subscribers, secure and convenient transaction. MF email id for the respective Fund
insurance buyers and customers of investors can use our platforms to get or raise the query or complaint
banks and NBFCs with our integrated a unified view of the multitude of AMCs in CAMS website itself for the
and robust technology solutions. We and schemes listed with us, allowing purpose of registering grievances/
are focussed on delivering quality and them to easily select and invest without complaints or they can write to
first-time right outcomes for them. having to visit different websites. It the investor relations officer of the
also enables them to perform various concerned Mutual Fund as stated in
In MF business, we maintain a non-financial transactions including SID or in AMC website.
top-quality team with industry-best updating KYC details, for each of their
operator certification standards assets through a single window. • Investors may reach the call centre /
(with 85% pass score) and further helpdesk of CAMS through the
provide them refresher trainings to Our account aggregator platform toll-free number / WhatsApp for any
enhance skills. In NPS business, we helps the investors in aggregating queries or concerns.
have industry-defining processes diverse assets in a single location and • If the responses are not satisfactory
and technologies for seamless sharing them with financial data users, in the above modes of complaints/
onboarding. Our Account Aggregator thus making their various financial grievances, aggrieved investor
platform, is facilitating banking and transaction journey seamless. Our can escalate to CAMS Compliance
NBFC customers to share financial tools for OCR and Aadhaar-based Officer or to the Managing Director
information and make their journey KYC facilitate seamless KYC, without by quoting the relevant complaints
seamless. The insurance business is customer needing to fill in multiple reference numbers.
redefining policyholder experiences data points.
by providing KYC facilities, real-time Grievance Redressal Mechanism at
e-Insurance account opening, policies Further, we ensure unmatched security SEBI
in demat form and tracing customers to and protection of data while delivering
If the service provided by CAMS is
benefit them with unclaimed amount. all these conveniences.
not satisfactory, investors may lodge
their grievance with SEBI through
CAMS scores high on customer satisfaction SEBI Complaints Redress System –
SCORES (a web-based centralised
MF business customer satisfaction ratio
grievance redressal system of SEBI)
70.4% 25.7% 3.9% at https://scores.gov.in.
very satisfied satisfied not satisfied
45
Holistic Development of the

Communities
We recognise our responsibility to society and undertake initiatives that drive positive social change.
In FY23, we continued our initiatives around our key focus areas of education and healthcare. We also
initiated the setting up of a Fintech innovation centre in collaboration with IIT Madras which will benefit
society at large. Our initiatives extend across the country.
CAMS IIT- M Fintech Innovation Lab (“CIFIL”)

The lab is part of CAMS CSR initiative to focus on ushering innovation & unravelling unique possibilities in the Fintech
space and aims to be a world-class hub for research and applied technologies in financial technology space. The Fintech
Innovation Lab at IIT-M will develop research-based decision support systems to financial market players using fintech.
The lab will see development of hi-tech solutions addressing the needs of the BFSI sector and will help develop Innovative
Fin Tech models to drive Financial Inclusion. The lab will establish an exclusive R&D Cell to focus upon research leading
to patents and developing algorithms for the broader use by capital markets and BFSI sector. The lab was inaugurated by
Honourable Union Finance Minister in December 2022.
46
Facilitating Quality Education

eVidyaloka AID India Chudar
CAMS partnered with eVidyaloka, a CAMS has partnered with AID India, Chudar is a 6-year-old non-profit
trust created by IT professionals, for a trust founded in 1996 by a group organisation which strives to provide
educating rural children. eVidyaloka of like-minded alumni from premier quality education for underprivileged
addresses the top 2 chronic institutions like IITs and BITS to focus children. CAMS has partnered with
challenges hampering the Quality on issues of development with the Chudar for supporting the after-school
vision to empower the marginalised centres in 35 villages. It also supports
of Education in the Government
communities to break the cycle of three urban centres for the urban
Schools, in rural parts of our
generational poverty and become poor. The project aims at addressing
country – viz. Teacher Shortage and
self-reliant. It provides support for the deficiencies pointed out by ASER
Teaching Quality. During the year, we quality education, healthcare, and and NCERT surveys relating to the
supported the efforts of eVidyaloka shelter. CAMS is supporting After- competency levels of the children in
at 10 centres for online education School Village Program in ten villages class 8 and below. The after-school
for rural children. eVidyaloka has in Tiruvannamalai District and five centres are run by the tutors appointed
leveraged technology to develop an villages in Tirunelveli District. The by the NGO who are also trained for
e-learning platform whereby teachers project aims to create a replicable and ensuring that they are equipped with
and students connect through sustainable model that focusses on the latest skills and techniques required
live video classes. It provides the measuring children’s learning levels, to teach the curriculum. The classes
digital classroom and supports its providing inputs based on each child’s take place in some common areas
continuation by absorbing the running learning needs and bring about visible in the village, like community hall,
improvements in learning levels of panchayat building, temples or other
costs and provides teaching faculty
children. The program has a strong common areas which are typically
who are volunteers from across the
parent engagement and community available in the village. Apart from
world. About 1,500 children benefit
participation component to ensure printed materials, digital video content
from this project supported by CAMS.
local accountability and long-term is also shared thereby engaging the
sustainability. students constantly. About 1,200
children benefit from this project.
47
Sankara Nethralaya
Sankara Nethralaya (“SN”) is a
charitable not-for-proﬁt eye hospital
founded in 1978 by a group of
philanthropists. CAMS is associated
with SN in the occupational
optometry project. The project aims
to identify workers and understand
the nature of their occupation
to provide them with custom
spectacles that aid them at work and
protect them from possible risks.
SN also conducts comprehensive
examinations that diagnose
underlying conditions that may result
in complications in the eye. With
the support of CAMS, SN conducts
camps in community centres and
other public spaces such as schools
or invites potential beneﬁciaries to
the hospital. About 2,500 workers
benefited from the support provided
by CAMS during the year.
Anandam
Sterling Software Private Limited,
wholly-owned subsidiary of the
company is associated with
ANANDAM which runs an old age
home for the cause and care of
Senior Citizens who do not have any
living children and has no source of
income. Anandam is also running
free Anandam Medical Care Centre
to cater to economically weaker
population in and around Kallikuppam
near Chennai. The consistent support
of CAMS group to this project was
recognised by the Honourable
Finance Minister during her visit to
the NGO.
48
Pillar 3: Governance
Obliging to good corporate

governance practices
We are committed to creating value for our stakeholders and prioritising their interests. We ensure this
by maintaining high standards of governance, transparency and accountability while being ethical and
responsible in business conduct. We have also established a robust compliance mechanism, under the
guidance of our Board, which ensures measuring progress in our pursuit for strategies.
Governance framework Ensuring ethical practices Cyber security and data privacy
The governance framework, systems Ethical practices are of utmost We have an extensive Information
and processes at CAMS reflect importance at CAMS, and led by Security Management System at
and enable our vision and values. our Code of Conduct (CoC) which CAMS enabled by policies on cyber
These practices are led by the Board guides all our actions. We have further security, cyber resilience and data
in support with the various Board implemented several policies including privacy. Compliant with ISO 27001,
Committees. Our governance is further for vigil mechanism and whistle blower it helps protect our systems and
strengthened by adequate Board employee safety, POSH, and anti- safeguard information. Our Audit
independence. corruption and bribery. We have a solid Committee reviews the Auditors’
framework that encourages directors reports at its periodical meetings, to
We also have a robust compliance and employees to report any illegal oversee and review the procedures
framework, with compliance or unethical practices, suspected or and systems effectuating the policies,
ownerships aligned with corporate actual fraud, or violations of the CoC while the Risk Management and the
objectives to serve in our interest or ethics policy. These policies help Technology Committees periodically
as well as that of our shareholders. us in maintaining a safe and ethical reviews the cyber security systems.
This is ensured through proactively work place, and conduct business in
identifying, assessing, monitoring, a responsible and socially conscious
controlling, and reporting compliance manner.
in adherence to country-specific laws
and regulations.
CAMS wins LACP Vision Platinum Award
CAMS won LACP Vision Platinum Award for its Integrated Annual Report
FY22. The report ranked 15th among top 100 reports worldwide and has
been given the additional honours of ‘Top 100 Report Worldwide’ and
Best Report Cover Worldwide.
49
Board of Directors
1 1 1
3 2 3
4 5 4
5 5
Mr. Dinesh Kumar Mehrotra Mr. Natarajan Srinivasan Mrs. Vijayalakshmi Rajaram Iyer
Chairman & Independent Director Independent Director Independent Director & Women Director
He has served as the Chairman and He is a Member of the Institute of She served as an Executive Director
the Managing Director of LIC. He has Chartered Accountants of India of Central Bank of India and as the
also served as the Executive Director (ICAI) and the Institute of Company Chairperson and Managing Director
of International Operations at LIC. He Secretaries of India (ICSI). He has of Bank of India. She was also
holds a B.Sc. (Honours) degree from more than 38 years of Corporate associated with IRDAI as a member
the University of Patna. work experience spanning across (Finance & Investments).
Finance, Legal, Projects and General
Management functions. He is also the
Managing Director of CG Powers and
Industrial Solution Limited.
4 1
2
3
Mr. Narendra Ostawal Mr. Sandeep Kagzi

Non-Executive Nominee Director Non-Executive Nominee Director
Narendra Ostawal has been nominated He is part of Warburg Pincus team.
by Great Terrain Investment Limited, His past experience includes stint at
the Promoters. He is a Chartered JP Morgan and Investment Banking
Accountant and has a degree in Post- Group in New York. He holds a
Graduation diploma in Management Bachelor of Science (B.S.) degree
from Indian Institute of Management, from Duke University and an MBA from
Bangalore. He is associated with Stanford Graduate School of Business.
Warburg Pincus India Private Limited
since 2007, where he is currently
designated as a Managing Director.
50
2
Board Committees
3
1. Audit Committee
2. Stakeholders’ Relationship
Committee
3. Corporate Social
Responsibility Committee
4. Nomination and Remuneration
Committee
Mr. Anuj Kumar Mr. Vedanthachari Srinivasa Rangan 5. Risk Management Committee
Managing Director Non-Executive Director
Chairperson of the Committee
He joined our Company as Chief He is Member of the Institute of
Operating Officer – Asset Management Chartered Accountants of India (ICAI) Member of the Committee
Services in March 2016 and was and has been associated with HDFC
appointed as our Managing Director since 1988 and he is currently its
with effect from August 01, 2021. Executive Director.
He joined CAMS after 25 years of
professional experience with Godrej
& Boyce Mfg. Co. Ltd., IBM India
Private Limited and Concentrix Daksh
Services India Private Limited. He
holds a Bachelor of Mechanical
Engineering degree from Birla Institute
of Technology, Ranchi and a Post
Graduate Diploma in Management
(PGDM) from IIM, Kolkata.
Board diversity
6 1 1 1 3 3
Male Female <40 years 40-50 years Independent Non-executive
1 4 1
50-60 years > 60 years Executive
Read more on 122 pages of the Business Responsibility and Sustainability Report section of this report.
51
Leadership Team
Anuj Kumar Ram Charan Sesharaman Manikandan Gopalakrishnan

Managing Director Chief Financial Officer Company Secretary and
Compliance Officer
Syed Hassan Abhishek Mishra Ravi Kethana

Chief Operating Officer Chief Risk Officer Chief Platform Officer
Soumendu Ganguly Vinodh Chelambathodi Varadarajan E S

Chief Product Officer & Chief Human Resources Officer Deputy Chief Process Officer
Head Tech Strategy
Vasanth Jeyapaul Emmanuel Kamala Radhakrishnan Prabal Nag

Head - Payment Business Executive Vice President- Executive Vice President-
Business Development Business Development
52
CEO’s of Subsidiaries
Vivek Bengani Tejinder Pal Singh Manchanda

CEO – CAMS REP CEO – CAMS FIS
Kaushik Narayan Badri Amit Das

CEO, Fintuple Technologies CEO, Think Analytics India
53
Awards and Accolades

CAMSfinserv Wins Banking Frontier’s Technoviti 2023
CAMSfinserv, wholly-owned subsidiary of the Company won the prestigious
Technoviti Award by Banking Frontier for introducing a superior way for bank
account validation using the Account Aggregator platform. CAMSfinserv won this
award for implementing Account Aggregator based bank account validation in
myCAMS Application (with 5 million+ registered users) for Third Party verification.
It has replaced the traditional activity of manual and IMPS-based verification of
Bank details, thus reducing manual errors and the time consumed for verification.
Financial Express CFO Awards 2023

At the 6th edition of the Financial Express
CFO Awards, Union minister for road
transport and highways, Mr. Nitin Gadkari
recognised Mr. Ramcharan Sesharaman for
his excellence as CFO of CAMS. He was
selected in the Small Enterprises category.
CAMS Wins “Cloud Innovator of the Year” award from

NASSCOM
CAMS won the “Cloud Innovator of the Year” award in the Large
Company Segment at the NASSCOM Enterprise Cloud Adoption Awards
2022. As per NASSCOM, this award aims to showcase the best use of
cloud by an organisation and as to how well an organisation leveraged its
cloud platform/solutions for innovating/transforming various aspects of its
business or services.
CAMS honoured with ET DataCon Award 2023

CAMS has been honoured with the prestigious ET DataCon Award 2023.
CAMS emerged as the winner in the category ‘Smart Data Applications
Software’ at The Economic Times DataCon Awards 2023. This recognition
highlights CAMS’ commitment to innovation and excellence in the field of
data analytics.
54
CAMS Wins LACP

CAMS Wins LACP Vision Platinum Award for
its Integrated Annual Report FY22. The report
has been ranked 15th among top 100 reports
worldwide and has been given the additional
honours of “Top 100 Report Worldwide” and
“Best Report Cover Worldwide”.
BW HR Excellence Awards 2023

CAMS won the silver award under the Employee Engagement
Strategy category at the 8th edition of Business World
People HR excellence awards. CAMS Communities was
nominated in the Employee Engagement strategy category
for the transformational journey of the Communities towards
innovative Employee Engagement. The communities use a
novel approach of “Inverting the Pyramid by creating leaders
from within the organisation to drive Employee engagement”.
New Millennials
CAMS released a report on new millennials
titled “The emerging force of millennial investor
is here to stay & grow” at the 17th CII Mutual
Fund Summit held at Mumbai on May 3, 2023.
The report was released by Mr. Manoj Kumar,
Executive Director, Securities and Exchange
Board of India (SEBI) in the presence of Mr.
Sundeep Sikka, ED & CEO Nippon Life India
Asset Management, Dr. Rajesh Kapoor, Regional
Director, CII Western Region. The report on new
millennials based on data from Mutual Funds
serviced by CAMS as a Registrar and Transfer
Agent (RTA) brings out trends, behaviours and
preferences of the millennial segment and the
emerging opportunities from this segment for
the benefit of mutual fund managers and the
ecosystem partners.
55
Corporate Snapshot
Name Secretarial Auditors
Computer Age Management Services Limited B Chandra
Practising Company Secretary
Corporate Identification Number (CIN) ACS No.: 20879
L65910TN1988PLC015757 C P No.: 7859
AG 3, Ragamalika,
Registered Office 26 Kumaran Colony Main Road,
New No. 10, Old No. 178, M.G.R. Salai, Vadapalani, Chennai – 600026.
Nungambakkam, Chennai – 600034,
Tamilnadu, India Internal Auditors
R Ranga Rao & Co.,
Corporate Office Chartered Accountants
No.158, Rayala Towers, Tower - I, FRN: 003044S
3rd Floor, Anna Salai, Chennai – 600 002, No. 2, Ganapathy Colony 2nd Street
Tamilnadu, India Gopalapuram
Chennai – 600 086.
Company Secretary
Mr. Manikandan Gopalakrishnan Registrar and Transfer Agent
Link Intime India Private Limited
Chief Financial Officer
C 101, 247 Park, L B S Marg, Vikhroli (West)
Mr. Ramcharan Sesharaman
Mumbai – 400 083.
E-Mail: [email protected]
Managing Director
Website: https://linkintime.co.in
Mr. Anuj Kumar
Bankers
Statutory Auditors
HDFC Bank
Brahmayya & Co.,
759, ITC Centre, Anna Salai,
Chartered Accountants
Chennai – 600 002.
FRN: 000511S
No. 48, Masilamani Road, Balaji Nagar,
Website
Royapettah, Chennai – 600 014.
www.camsonline.com
` 9,955.01 Crore
Market Capitalisation as on March 31, 2023
CIN: L65910TN1988PLC015757
BSE code: 543232
NSE symbol: CAMS
Dividend for FY23: ` 37.75 per share
AGM date: August 7, 2023
AGM mode/Venue: Video Conference/
Other Audio-Visual Means
56
Notice
NOTICE IS HEREBY GIVEN THAT THE THIRTY FIFTH 4. Declaration of Dividend
ANNUAL GENERAL MEETING (“AGM”) OF COMPUTER To confirm the Interim Dividends of ` 25.75/- per equity
AGE MANAGEMENT SERVICES LIMITED (“COMPANY”) share of face value of ` 10/- each fully paid-up, for the
WILL BE HELD ON MONDAY, THE 07TH DAY OF FY 2022-23, approved by the Board of Directors and
AUGUST 2023, AT 04.00 P.M. (IST), THROUGH VIDEO
already paid to eligible shareholders and to declare a
CONFERENCING (“VC”) / OTHER AUDIO-VISUAL MEANS
final dividend of ` 12.00/- per equity share, for the year
(“OAVM”) FACILITY TO TRANSACT THE FOLLOWING
ended March 31, 2023 and in accordance with Section
BUSINESSES-
123 and other applicable provisions of the Companies
Act, 2013 (“Act”).
ORDINARY BUSINESS
1. Adoption of Standalone Financial Statements “RESOLVED THAT the interim dividends of ` 25.75/-
To receive, consider and adopt the audited standalone per equity share of ` 10/- each declared by the Board
financial statements of the Company for the Financial of Directors on 05.08.2022, 04.11.2022 and 07.02.2023
Year ended March 31, 2023 together with the Reports for the year 2022-23 on the outstanding fully paid-up
of the Board of Directors and Auditors thereon. equity shares of the Company and paid to those equity
shareholders whose names appeared in the register of
“RESOLVED THAT the audited standalone financial members as on the record dates fixed for that purpose
statements including the Balance Sheet of the Company be and is hereby confirmed.
as at March 31, 2023, the Statement of Profit and Loss,
the Statement of Changes in Equity and the Cash Flow RESOLVED FURTHER THAT a final dividend at the

Statement for the year ended on that date together with rate of ` 12.00/- per equity share of ` 10/- each fully paid
all the notes annexed and the Directors’ and Auditors’ up of the Company be and is hereby declared for the
Reports thereon, placed before the meeting, be and are financial year ended March 31, 2023 as recommended
hereby considered and adopted.” by the Board of Directors of the Company and the same
be paid out of the profits of the Company for the financial
2. Adoption of Consolidated Financial Statements
year 2022-23 to those Members of the Company whose
To receive, consider and adopt the audited consolidated names would appear on the Register of Members of
financial statements of the Company for the Financial
the Company or as beneficial owners in the records of
Year ended March 31, 2023 together with the Reports
CDSL and NSDL on the 15th day of August, 2023 being
of the Board of Directors and Auditors thereon.
the record date for payment of Final Dividend.”
“RESOLVED THAT the audited consolidated financial
5. Appointment of Auditors
statements including the Balance Sheet of the Company
as at March 31, 2023, the Statement of Profit and Loss, To consider and, if thought fit, to pass with or without
the Statement of Changes in Equity and the Cash Flow modification(s), the following resolution as an Ordinary
Statement notes annexed and the Auditors’ Reports Resolution:
thereon, placed before the meeting, be and are hereby
considered and adopted.” “RESOLVED THAT, pursuant to Section 139 and 142
and other applicable provisions of Companies Act, 2013
3. Retirement by Rotation (including any statutory modification or re-enactment
To appoint a Director in place of Mr. Sandeep Ramesh thereof for the time being in force) read with rules made
Kagzi (DIN: 08264768) who retires by rotation and being thereunder, pursuant to the recommendation of the audit
eligible, offers himself for re-appointment as a Director. committee of the Board, M/s. SR Batliboi & Associates
LLP, Chartered Accountants, (ICAI Firm Registration
“RESOLVED THAT pursuant to the provisions of No. 101049W/E300004), be and are hereby appointed
Section 152 of the Companies Act, 2013, Mr. Sandeep as the Auditors of the Company from the conclusion of
Ramesh Kagzi (DIN: 08264768), who retires by rotation this Meeting to hold such office for a period of five years
at this meeting and being eligible has offered himself till the conclusion of the 40th Annual General Meeting, at
for re-appointment, be and is hereby re-appointed as a a remuneration mutually agreed between the Board of
Director of the Company, liable to retire by rotation.” Directors of the Company and the Statutory Auditors.”
57
SPECIAL BUSINESS framed thereunder and SEBI (Listing Obligations and

6. Amendment to Memorandum of Association Disclosure Requirements) Regulations, 2015, consent
of the members be and is hereby accorded for paying
To amend the Memorandum of Association as per the
consolidated remuneration (consisting of sitting fee and
Act and in this regard to consider and, if thought fit,
Commission) as below for the Independent Directors of
to pass with or without modification(s), the following
the company with effect from the Financial Year 2023-
resolution as a Special Resolution:
24 subject to the condition that the same shall always
remain within the limit of 1% of the net profit as laid
“RESOLVED THAT pursuant to the provisions of
down in the Companies Act, 2013:
Section 4, 13 and other applicable provisions if any
of the Companies Act, 2013 (including any statutory Mr. D K Mehrotra, Chairman: ` 30,00,000/- per annum
modification or re-enactment thereof for the time being Mr. Natarajan Srinivasan: ` 25,00,000/- per annum
in force) read with rules made thereunder consent of
the members be and is hereby accorded to amend Mrs. Vijayalakshmi Iyer: ` 25,00,000/- per annum
the Clause 3.A.10 of Memorandum of Association in
accordance with the provisions of Companies Act, 2013 RESOLVED FURTHER THAT the sitting fee shall not

as below in place of existing 3.A.10 of the Memorandum exceed the limits as prescribed under the Companies
of Association of the Company. Act, 2013 or the rules framed there under and shall
be paid in the normal course after completion of the
‘To establish, manage and offer payment gateway and/ Board/Committee Meetings and the differential amount
or payment aggregator services and all other services between the consolidated amount fixed and the sitting
including but not limited to collection, clearing, payment fee shall be paid at the end of every financial year. In the
and settlement of funds (whether under relevant event of cessation during any part of the financial year,
the payment shall be made proportionately based on
Payment and Settlements Act of India, Guidelines on
the period served.
Regulation of Payment Aggregators and Payment
Gateways or otherwise) to various participants and
ESOLVED FURTHER THAT the Board of Directors,
R
entities (including but not limited to investors, mutual
Key Managerial Personnel and any other person
funds, distributors, asset management companies and
authorized by the Board of Directors of the Company
all kinds of intermediaries whatsoever) in India or in any
be and are hereby severally authorized to do all such
part of the World.’
acts, deeds, matters and things as may be deemed
necessary to give effect to this resolution.”
RESOLVED FURTHER THAT the Board of Directors be

and are hereby authorized to do all such acts, deeds,
By Order of the Board
matters and things as may be required to be done to
give effect to this resolution.” Sd/-
7.
Revision of remuneration payable to Non- Company Secretary
Executive Directors by way of Commission Registered Office:
To consider and, if thought fit, to pass with or without New No. 10, Old No. 178,
modification(s), the following resolution as an Ordinary M.G.R. Salai, Nungambakkam,
Resolution: Chennai-600034, Tamilnadu, India
CIN: L65910TN1988PLC015757
“RESOLVED THAT in supersession of all the earlier
Email: [email protected]
resolutions passed for payment of remuneration Website: www.camsonline.com
to Independent Directors and pursuant to Section
149(9), 197, 198 and other applicable provisions, Place: Chennai
if any, of the Companies Act, 2013 and the rules Date: June 16, 2023
58
NOTES: Intime India Private Limited (“RTA”) or the Depository

1. The meeting shall be deemed to be conducted at Participant(s). The physical copies of such statements
the registered office of the Company situated at New and Notice of AGM will be dispatched only to those
No. 10, Old No. 178, M.G.R. Salai, Nungambakkam, shareholders who request the same.
Chennai-600034. In accordance with the Secretarial
Standards on General Meetings (“SS-2”) issued by Pursuant to the provisions of Section 108 of the Act
the Institute of Company Secretaries of India (“ICSI”) read with Rule 20 of the Companies (Management
read with clarification / guidance on applicability of and Administration) Rules, 2014 (as amended), SS-2
secretarial standards 1 and 2 dated April 15, 2020 issued by the ICSI, Regulation 44 of Listing Regulations
issued by the ICSI. read with MCA Circulars, the Company is providing
remote e-Voting facility to its members in respect of the
In view of the COVID-19 pandemic, the Ministry business to be transacted at the AGM and facility for
of Corporate Affairs, Government of India (“MCA”) those members participating in the AGM to cast vote
issued General Circular No. 10/2022 dated through e-Voting system during the AGM.
December 28, 2022, General Circular No. 21/2021
dated December 14, 2021, General Circular No. 2. The Company has fixed August 15, 2023 as the
20/2021 dated December 08, 2021, General Circular “Record Date” for determining entitlement of Members
No. 10/2021 dated June 23, 2021 and General Circular for payment of final dividend for the financial year ended
No. 39/2020 dated December 31, 2020 (in continuation March 31, 2023, if approved at the AGM.
of Circular number 14/2020 dated April 8, 2020,
3. Pursuant to the provisions of the Income Tax Act,
17/2020 dated April 13, 2020, 22/2020 dated June 15,
1961 (“the IT Act”), dividend income is taxable in the
2020 and 33/2020 dated September 28, 2020) issued
hands of the Members and the Company is required
by the Ministry of Corporate Affairs, Government of
to deduct tax at source (“TDS”) from dividend paid
India (the “MCA Circulars”) (including any statutory
to the members at rates prescribed in the IT Act. In
modification(s) or re-enactment(s) thereof for the
general, to enable compliance with TDS requirements,
time being in force), allowing, inter-alia, conduct of
members are requested to complete and/ or update
AGMs through Video Conferencing/Other Audio-Visual
their Residential Status, PAN, Category as per the
Means (VC/OAVM) facility on or before September 30,
IT Act with their Depository Participant(s) or in case
2023, in accordance with the requirements provided
shares are held in physical form, with the Company
in paragraphs 3 and 4 of the MCA General Circular
by sending email to the Company’s email address at
No. 20/2020. In compliance with the MCA Circulars,
[email protected]
provisions of the Act and the Securities and Exchange
Board of India (“SEBI”) (Listing Obligations and
4. The RTA of the Company shall be providing facility for
Disclosure Requirements) Regulations, 2015 (“Listing
voting through remote e-voting, for participation in the
Regulations”), the 35th AGM of the Company is being
AGM through VC/OAVM facility and e-voting during the
conducted through VC/OAVM facility, which does not
AGM. The procedure for participating in the meeting
require physical presence of Members at a common
through VC/OAVM is explained at Note No.19 below.
venue. The deemed venue for the 35th AGM shall be the
Since the AGM will be held through VC/OAVM, the
registered office of the Company.
Route Map is not annexed to this Notice.
Pursuant to the MCA Circulars, SEBI Circular Nos. SEBI/
All documents referred to in the Notice will also be
HO/CFD/CMD1/CIR/P/2020/79 dated May 12, 2020,
available electronically for inspection without any fee
SEBI/HO/DDHS/P/ CIR/2022/0063 dated May 13, 2022,
by the Members from the date of circulation of this
SEBI/HO/ CFD/PoD-2/P/CIR/2023/4 dated January 5,
Notice up to the date of AGM Members seeking to
2023, the financial statements (including Board’s Report,
inspect such documents can send an e-mail to
Auditor’s Report or other documents required to be
[email protected].
attached therewith) for the Financial Year ended
March 31, 2023 pursuant to Section 136 of the Act
5. The Register of Directors and Key Managerial Personnel
and Notice calling the AGM pursuant to Section 101
and their shareholding maintained under Section 170
of the Act read with the rules framed thereunder, such
of the Act, the Register of Contracts or Arrangements
statements including the Notice of AGM are being sent
in which the Directors are interested, maintained under
only in electronic mode to those Members whose e-mail
Section 189 of the Act, and the relevant documents
addresses are registered with the Company / Link
59
referred to in the Notice will be available, electronically, 9.

Electronic Dispatch of Notice and Annual
for inspection by the Members during the AGM. Report:
In line with the MCA General Circular dated May 05,
Members seeking to inspect such documents can send
2020 and SEBI Circular dated May 12, 2020, the Notice
an e-mail to [email protected]
of the AGM along with the Annual Report for the
FY 2022-23 is being sent only through electronic
6. PURSUANT TO THE PROVISIONS OF THE ACT,
A MEMBER ENTITLED TO ATTEND AND VOTE AT mode to those Members whose email addresses are
THE AGM IS ENTITLED TO APPOINT A PROXY TO registered with the Company/ RTA/ Depositories. A copy
ATTEND AND VOTE ON HIS/HER BEHALF AND of the Notice of this AGM along with the Annual Report
THE PROXY NEED NOT BE A MEMBER OF THE is available on the website of the Company at www.
COMPANY. SINCE THIS AGM IS BEING HELD camsonline.com, websites of the Stock Exchanges
PURSUANT TO THE MCA AND SEBI CIRCULARS where the Equity Shares of the Company are listed, viz.
THROUGH VC/OAVM, THE REQUIREMENT OF BSE Limited at www.bseindia.com and National Stock
PHYSICAL ATTENDANCE OF MEMBERS HAS BEEN Exchange of India Limited at www.nseindia.com and on
DISPENSED WITH. ACCORDINGLY, IN TERMS the website of the RTA at www.linkintime.co.in. For any
OF THE MCA CIRCULARS, THE FACILITY FOR communication, the Members may also send a request
APPOINTMENT OF PROXIES BY THE MEMBERS to the Company’s investor email id: secretarial@
WILL NOT BE AVAILABLE FOR THIS AGM AND camsonline.com
HENCE THE PROXY FORM AND ATTENDANCE SLIP
ARE NOT ANNEXED TO THIS NOTICE. 10. Transfer to Investor Education and Protection
Fund:
7. Corporate/Institutional Members are entitled to appoint
i) Transfer of Unclaimed Dividend:
authorized representatives to attend the AGM through
VC/OAVM on their behalf and cast their votes through The Company has not transferred any amount to
remote e-voting or at the AGM. Corporate/Institutional the IEPF, being the unclaimed / unpaid dividend for
Members (i.e., other than individuals/HUF, NRI, etc.) any of the financial years.
are required to send a scanned copy of the Board
Resolution/Authority Letter, etc., authorising their ii) Transfer of Unclaimed Matured Fixed Deposits
representative to attend the AGM through VC/OAVM and Interest accrued thereon:
on their behalf and to vote through remote e-voting or The Company has not accepted any Deposits.
during the AGM.
iii) Transfer of Shares:
The said Resolution / Authorisation shall be sent to
Adhering to the various requirements set out in
the Scrutinizer by email through its registered email
the IEPF Rules, as amended, the Company has
address to [email protected] with a
not transferred any Equity Shares of the Company
copy to [email protected] and to the Company
during the FY 2022-23 to the IEPF Authority in
at [email protected]
respect of which dividend had remained unpaid or
Members of the Company under the category of unclaimed for seven consecutive years.
Institutional Shareholders are encouraged to attend
and participate in the AGM through VC/OAVM and vote iv)
Details of unclaimed amounts on the
thereat. Company’s website:
Pursuant to the provisions of the Investor Education
Pursuant to the above-mentioned MCA Circulars, and Protection Fund Authority (Accounting,
physical attendance of the Members is not required Audit, Transfer, and Refund) Rules, 2016, the
at the AGM, and attendance of the Members through Company has uploaded the details of unpaid and
VC/OAVM will be counted for the purpose of reckoning unclaimed amounts lying with the Company on the
the quorum under Section 103 of the Act. website of the Company at the web-link: https://
www.camsonline.com/about-cams/shareholder-
8. The Company’s Registrar and Transfer Agents for its
relations/unclaimed-dividend-status as well as on
Share Registry Work (Physical and Electronic) is Link
the website of the Ministry of Corporate Affairs at
Intime India Private Limited having their office at C 101,
the web-link: www.iepf.gov.in.
247 Park, L B S Marg, Vikhroli (West), Mumbai 400083.
60
11. Transfer of shares permitted in Demat form iii) quote their folio numbers / Client ID and DP ID in
only: all correspondence;
As per Regulation 40 of the Listing Regulations,
iv) consolidate their holdings into one folio in case they
as amended, securities of listed companies can be
hold shares under multiple folios in the identical
transferred only in dematerialized form except in case
order of names; and
of request received for transmission or transposition of
securities.
v) register their Permanent Account Number (PAN)
with their Depository Participants, in case of
In view of the above and to eliminate all risks
Shares held in dematerialised form and the RTA /
associated with physical shares and for ease of portfolio
Company, in case of shares held in physical form,
management, Members holding shares in physical form
as directed by SEBI.
are requested to consider converting their holdings
to dematerialised form. Members are accordingly 14. Updation of Members’ Details:
requested to get in touch with any Depository Participant
The format of the Register of Members prescribed by the
having registration with SEBI to open a Demat account
Ministry of Corporate Affairs under the Act requires the
or alternatively, contact the nearest branch of the RTA to
Company/ RTA to record additional details of Members,
seek guidance with respect to the demat procedure.
including their PAN details, e-mail address, etc.
Members may also visit the website of depositories

Members holding shares in physical form are requested
viz. National Securities Depository Limited:https://
to submit the form duly completed to the Company
nsdl.co.in/faqs/faq.php or Central Depository Services at [email protected] or its Registrar and
(India) Limited: https://www.cdslindia.com/investors/ Transfer Agents in physical mode or in electronic mode
open-demat.html for further understanding of the demat at [email protected] as per instructions
procedure. mentioned in the form. Members holding shares in
electronic form are requested to submit the details to
12. Nomination: their respective Depository Participants.
Members can avail themselves of the facility of
nomination in respect of shares held by them in 15. Updation of PAN / Bank Account Details of
physical form pursuant to the provisions of Section 72 Members:
of the Companies Act, 2013 read with Rule 19(1) of SEBI vide its Circular No. SEBI/HO/MIRSD/DOP1/
the Companies (Share Capital and Debentures) Rules, CIR/P/2018/73 dated April 20, 2018 has mandated
2014. Members desiring to avail of this facility may send registration of PAN and Bank Account details for all
their nomination in the prescribed Form No. SH-13 duly holders of physical securities. Members holding shares
filled in to the RTA having their office at C 101, 247 Park, in physical form are therefore requested to submit their
L B S Marg, Vikhroli (West), Mumbai - 400083 or send PAN and Bank Account details to the RTA along with a
an email at: [email protected] self-attested copy of PAN Card and original cancelled
cheque. The original cancelled cheque should bear the
Members holding shares in electronic form may contact name of the Member. In the alternative, Members are
their respective Depository Participants for availing requested to submit a copy of bank passbook/statement
this facility. If a Member desires to cancel the earlier attested by the bank. Members holding shares in demat
nomination and record fresh nomination, he / she may form are requested to submit the aforesaid information
submit the same in Form No. SH-14. to their respective Depository Participant(s).
13. Members are requested to: 16. Members seeking any information with regard to the
i) intimate to the RTA, changes, if any, in their Accounts or any matter to be placed at the AGM, are
requested to write to the Company on or before July 31,
registered addresses / bank mandates at an early
2023 through e-mail to [email protected].
date, in case of shares held in physical form;
The same will be replied by the Company suitably.
ii) intimate to the respective Depository Participant,
17. Procedure for Inspection of Documents:
changes, if any, in their registered addresses/bank
mandates at an early date, in case of shares held The Register of Directors and Key Managerial Personnel
in electronic / dematerialized form; and their shareholding maintained under Section 170
61
of the Act and relevant documents referred to in this or e-Voting service provider name i.e. LINKINTIME
Notice of AGM and Explanatory Statement, will be and you will be re-directed to “InstaVote” website
available electronically for inspection by the Members for casting your vote during the remote e-Voting
during the AGM. All documents referred to in the Notice period.
will also be available for electronic inspection without
any fee by the Members from the date of circulation of (ii) If you are not registered for IDeAS e-Services,
this Notice up to the date of AGM, i.e., August 07, 2023. option to register is available at https://eservices.
Members seeking to inspect such documents can send nsdl.com Select “Register Online for IDeAS Portal”
an email to Company’s investor email id: secretarial@ or click at https://eservices.nsdl.com/SecureWeb/
camsonline.com IdeasDirectReg.jsp
18. Members are requested to support the Green Initiative (iii) Visit the e-Voting website of NSDL. Open web
by registering/ updating their e-mail addresses, with browser by typing the following URL: https://www.
the Depository Participant (in case of Shares held in evoting.nsdl.com/ either on a personal computer
dematerialised form) or with the RTA (in case of Shares or on a mobile. Once the home page of e-Voting
held in physical form). system is launched, click on the icon “Login” which
is available under ‘Shareholder/Member’ section.
19. Members desirous of obtaining any information on A new screen will open. You will have to enter
the financials and operations of the Company, are your User ID (i.e. your sixteen-digit demat account
requested to send an email to the Company at least number hold with NSDL), Password/OTP and a
seven working days prior to the date of the AGM, so that Verification Code as shown on the screen. After
the information can be kept ready during the meeting. successful authentication, you will be redirected
to NSDL Depository site wherein you can see
Remote e-Voting Instructions for shareholders e-Voting page. Click on company name or e-Voting
post change in the Login mechanism for Individual service provider name i.e. LINKINTIME and you
shareholders holding securities in demat mode, will be redirected to “InstaVote” website for casting
pursuant to SEBI circular dated December 09, 2020: your vote during the remote e-Voting period.
As per the SEBI circular dated December 9, 2020, (iv) Individual Shareholders holding securities in demat
individual shareholders holding securities in demat mode with CDSL.
mode can register directly with the depository or will
have the option of accessing various ESP portals (v) Users who have opted for CDSL Easi / Easiest
directly from their demat accounts. facility, can login through their existing user
id and password. The option will be made
Shareholders are advised to update their mobile
available to reach e-Voting page without any
number and email Id in their demat accounts to further authentication. The users to login Easi /
access e-Voting facility. Easiest are requested to visit CDSL website
www.cdslindia.com and click on login icon &
Login method for Individual shareholders holding New System Myeasi Tab and then use your
securities in demat mode is given below: existing my easi username & password.
(i) Individual Shareholders holding securities in
demat mode with NSDL. Existing IDeAS user (vi) After successful login the Easi / Easiest user will
can visit the e-Services website of NSDL viz. be able to see the e-Voting option for eligible
https://eservices.nsdl.com either on a personal companies where the evoting is in progress as
computer or on a mobile. On the e-Services home per the information provided by the company. On
page click on the “Beneficial Owner” icon under clicking the evoting option, the user will be able to
“Login”” which is available under ‘IDeAS’ section, see e-Voting page of the e-Voting service provider
this will prompt you to enter your existing User ID i.e. LINKINTIME for casting your vote during the
and Password. After successful authentication, remote e-Voting period or joining virtual meeting
you will be able to see e-Voting services under & voting during the meeting. Additionally, there
Value added services. Click on “Access to are also links provided to access the system
e-Voting” under e-Voting services and you will be of all e-Voting Service Providers, so that the
able to see e-Voting page. Click on company name user can visit the e-Voting service providers’
website directly.
62
(vii) If the user is not registered for Easi/Easiest, the 8 Character DP ID followed by 8 Digit Client ID;
option to register is available at CDSL website Shareholders holding shares in CDSL demat
www.cdslindia.com and click on login & New account shall provide 16 Digit Beneficiary ID.
System Myeasi Tab and then click on registration
option. B. PAN: Enter your 10-digit Permanent Account
Number (PAN) (Shareholders who have not
(viii) Alternatively, the user can directly access the updated their PAN with the Depository Participant
e-Voting page by providing Demat Account (DP)/ Company shall use the sequence number
Number and PAN No. from a e-Voting link provided to you, if applicable.
available on www.cdslindia.com home page. The
system will authenticate the user by sending OTP C. DOB/DOI:
on registered Mobile & Email as recorded in the Enter the Date of Birth (DOB) / Date of Incorporation
Demat Account. After successful authentication, (DOI) (As recorded with your DP / Company - in
the user will be able to see the e-Voting option DD/MM/YYYY format)
where the evoting is in progress and also able to
directly access the system of all e-Voting Service D. Bank Account Number: Enter your Bank Account
Providers. Number (last four digits), as recorded with your
DP/Company.
(ix) Individual Shareholders (holding securities in
demat mode) login through their depository *Shareholders holding shares in physical form but
participants. You can also login using the login have not recorded ‘C’ and ‘D’, shall provide their
credentials of your demat account through your Folio number in ‘D’ above
Depository Participant registered with NSDL/
CDSL for e-Voting facility. After Successful login, *Shareholders holding shares in NSDL form, shall
you will be able to see e-Voting option. Once you provide ‘D’ above
click on e-Voting option, you will be redirected
to NSDL/CDSL Depository site after successful • Set the password of your choice (The
authentication, wherein you can see e-Voting password should contain minimum 8
feature. Click on the company name or e-Voting characters, at least one special Character
service provider name i.e. LinkIntime and you will (@!#$&*), at least one numeral, at least one
be redirected to e-Voting service provider website alphabet and at least one capital letter).
for casting your vote during the remote e-Voting
period. • Click “confirm” (Your password is now
generated).
Login method for Individual shareholders holding
securities in physical form/ Non-Individual Click on ‘Login’ under ‘SHARE HOLDER’ tab.
Shareholders holding securities in demat mode is
given below: Enter your User ID, Password and Image
Individual Shareholders of the company, holding Verification (CAPTCHA) Code and click on
shares in physical form / Non-Individual Shareholders ‘Submit’.
holding securities in demat mode as on the cut-off date
Cast your vote electronically:
for e-voting may register for e-Voting facility of the RTA
as under: After successful login, you will be able to see the
notification for e-voting. Select ‘View’ icon.
(i) Open the internet browser and launch the URL:
https://instavote.linkintime.co.in. E-voting page will appear.
(ii) Click on “Sign Up” under ‘SHARE HOLDER’ tab Refer the Resolution description and cast your vote
and register with your following details: - by selecting your desired option ‘Favour / Against’
(If you wish to view the entire Resolution details,
A. User ID: Shareholders holding shares in physical click on the ‘View Resolution’ file link).
form shall provide Event No + Folio Number
registered with the Company. Shareholders holding After selecting the desired option i.e. Favour /
shares in NSDL demat account shall provide Against, click on ‘Submit’. A confirmation box will
63
be displayed. If you wish to confirm your vote, click the e-Voting website of the RTA: https://instavote.
on ‘Yes’, else to change your vote, click on ‘No’ and linkintime.co.in
accordingly modify your vote.
• Click on ‘Login’ under ‘SHARE HOLDER’ tab
Guidelines for Institutional shareholders: and further Click ‘forgot password?’
Institutional shareholders (i.e. other than
Individuals, HUF, NRI etc.) and Custodians • Enter User ID, select Mode and Enter Image
are required to log on the e-voting system of Verification code (CAPTCHA). Click on
LIIPL at https://instavote.linkintime.co.in and “SUBMIT”.
register themselves as ‘Custodian / Mutual Fund
/ Corporate Body’. They are also required to In case shareholders is having valid email address,
upload a scanned certified true copy of the board Password will be sent to his / her registered e-mail
resolution /authority letter/power of attorney etc. address. Shareholders can set the password of his/
together with attested specimen signature of the her choice by providing the information about the
duly authorised representative(s) in PDF format particulars of the Security Question and Answer,
in the ‘Custodian / Mutual Fund / Corporate Body’ PAN, DOB/DOI, Bank Account Number (last four
login for the Scrutinizer to verify the same. digits) etc. as mentioned above. The password
should contain minimum 8 characters, at least one
Helpdesk for Individual Shareholders holding special character (@!#$&*), at least one numeral,
securities in physical mode/ Institutional at least one alphabet and at least one capital letter.
shareholders:
User ID for Shareholders holding shares in Physical
Shareholders facing any technical issue in login
Form (i.e. Share Certificate): Your User ID is Event
may contact Link Intime INSTAVOTE helpdesk by
No + Folio Number registered with the Company
sending a request at [email protected] or
contact on: - Tel: 022 – 4918 6000. Individual Shareholders holding securities in
demat mode with NSDL/ CDSL has forgotten
Helpdesk for Individual Shareholders holding
the password:
securities in demat mode:
Individual Shareholders holding securities in Shareholders who are unable to retrieve User
demat mode may contact the respective helpdesk ID/ Password are advised to use Forget User
for any technical issues related to login through ID and Forget Password option available
Depository i.e. NSDL and CDSL. at abovementioned depository/ depository
participants website.
Login type Helpdesk details
Individual Shareholders holding securities in It is strongly recommended not to share your
demat mode with NSDL Members facing any password with any other person and take utmost
technical issue in login can contact NSDL helpdesk care to keep your password confidential.
by sending a request at [email protected] or call
at : 022 - 4886 7000 and 022 - 2499 7000 For shareholders/ members holding shares in
physical form, the details can be used only for
Individual Shareholders holding securities in demat voting on the resolutions contained in this Notice.
mode with CDSL Members facing any technical
issue in login can contact CDSL helpdesk by During the voting period, shareholders/ members
sending a request at helpdesk.evoting@cdslindia. can login any number of time till they have voted
com or contact at toll free no. 1800 22 55 33 on the resolution(s) for a particular “Event”.
Individual Shareholders holding securities in Instructions for attending the AGM through
Physical mode has forgotten the password: InstaMeet:
If an Individual Shareholders holding securities in 1) Open the internet browser and launch the
Physical mode has forgotten the USER ID [Login URL: https:// instameet.linkintime.co.in
ID] or Password or both then the shareholder can Select the “Company” and ‘Event Date’ and
use the “Forgot Password” option available on register with your following details:
64
A. Demat Account No. or Folio No: Enter your 4) Other shareholders may ask questions to
16-digit DEMAT Account No. or Folio No. the panelist via active chat-board during the
meeting.
Shareholders/members holding shares in
CDSL DEMAT account shall provide 16 Digit 5) Please remember your speaking serial
Beneficiary ID number and start your conversation with
panelist by switching on video mode and
Shareholders/members holding shares audio of your device.
in NSDL DEMAT account shall provide 8
Character DP ID followed by 8 Digit Client ID Note: Shareholders are requested to speak only
when moderator of the meeting/management
Shareholders/members holding shares in will announce the name and serial number for
physical form shall provide Folio Number speaking.
registered with the Company
Instructions for Shareholders/ Members to Vote
B. PAN: Enter your 10-digit Permanent Account during the Annual General Meeting through
Number (PAN) (Members who have not InstaMeet:
updated their PAN with the Depository Once the electronic voting is activated by the
Participant (DP)/ Company shall use the scrutinizer/ moderator during the meeting,
sequence number provided to you, if shareholders/ members who have not exercised
applicable. their vote through the remote e-voting can cast the
vote as under:
C. Mobile No.: Enter your mobile number.
1. On the Shareholders VC page, click on the
D. Email ID: Enter your email id, as recorded link for e-Voting “Cast your vote”
with your DP/Company.
2. Enter your 16-digit Demat Account No. / Folio
Click “Go to Meeting” (You are now registered No. and OTP (received on the registered
for InstaMeet and your attendance is marked mobile number/ registered email Id) received
for the meeting). during registration for InstaMEET and click
on ‘Submit’.
Note: Please download Webex software
requirements and kindly ensure to install the 3. After successful login, you will see “Resolution
same on the device which will be used to attend Description” and against the same the option
the meeting. Please read the instructions carefully “Favour/ Against” for voting.
and participate in the meeting. You may also call
upon the InstaMeet Support Desk for any support 4. Cast your vote by selecting appropriate
on the dedicated number provided to you in the option i.e., “Favour/Against” as desired. Enter
instruction/ InstaMeet website. the number of shares (which represents no.
of votes) as on the cut-off date under ‘Favour/
Instructions for Shareholders/Members to Speak Against’.
during the Annual General Meeting through
InstaMeet: 5. After selecting the appropriate option i.e.,
Favour/ Against as desired and you have
1) Shareholders who would like to speak during decided to vote, click on “Save”. A confirmation
the meeting must register their request box will be displayed. If you wish to confirm
3 days in advance with the Company on your vote, click on “Confirm”, else to change
[email protected] your vote, click on “Back” and accordingly
modify your vote.
2) Shareholders will get confirmation on first
cum first basis depending upon the provision 6. Once you confirm your vote on the resolution,
made by the client. you will not be allowed to modify or change
your vote subsequently.
3) Shareholders will receive “speaking serial
number” once they mark attendance for the
meeting.
65
Note: Day, date From Wednesday, August 02,

hareholders/ Members, who will be present in the Annual
S and time of 2023 at 09.00 A.M.
General Meeting through InstaMeet facility and have not Commencement
casted their vote on the Resolutions through remote e-Voting of remote e-voting
and are otherwise not barred from doing so, shall be eligible Day, date and To Saturday, August 05, 2023
to vote through e-Voting facility during the meeting. time of end of at 05.00 P.M. (IST)
remote e-voting
beyond which
hareholders/ Members who have voted through Remote
S
remote e-voting
e-Voting prior to the Annual General Meeting will be eligible
will not be allowed
to attend/ participate in the Annual General Meeting through
InstaMeet. However, they will not be eligible to vote again The remote e-voting module shall be disabled for voting
during the meeting. thereafter. Once the vote on a resolution(s) is cast by
the Member, the Member shall not be allowed to change
hareholders/ Members are encouraged to join the Meeting
S it subsequently.
through Tablets/ Laptops connected through broadband for
better experience. A Member may avail of the facility at his/her/its
discretion, as per the instructions provided herein:
hareholders/ Members are required to use Internet with a
S
good speed (preferably 2 MBPS download stream) to avoid Instructions
any disturbance during the meeting.
a. Member will receive an e-mail from Link Intime [for
Members whose e-mail IDs are registered with the
lease note that Shareholders/ Members connecting from
P
Company/Depository Participant(s)] which includes
Mobile Devices or Tablets or through Laptops connecting
details of E-Voting Event Number (“EVEN”), USER ID
via Mobile Hotspot may experience Audio/Visual loss due to
and password:
fluctuation in their network. It is therefore recommended to
use stable Wi-Fi or LAN connection to mitigate any kind of
(i) Launch internet browser by typing the URL: https://
aforesaid glitches.
evoting.linkintime.com.
In case shareholders/ members have any queries regarding
(ii) Enter the login credentials (i.e., User ID and
login/ e-voting, they may send an email to instameet@
password). In case of physical folio, User ID will
linkintime.co.in or contact on: - Tel: 022-49186175.
be EVEN (e-voting Event Number) xxxx followed
by folio number. In case of Demat account, User
20. Procedure for Remote e-voting:
ID will be your DP ID and Client ID. However, if you
In compliance with the provisions of Section 108 of the are already registered with the RTA for e-voting,
Act read with Rule 20 of the Companies (Management you can use your existing User ID and password
and Administration) Rules, 2014, as amended and the for casting your vote.
provisions of Regulation 44 of the Listing Regulations,
Members are provided with the facility to cast their vote (iii) After entering these details appropriately, click on
electronically, through the e-voting services provided by “LOGIN”.
Link Intime on all Resolutions set forth in this Notice,
through remote e-voting. It is hereby clarified that it is (iv) You will now reach password change Menu
not mandatory for a Member to vote using the remote wherein you are required to mandatorily change
e-voting facility. The remote e-voting facility will be your password. The new password shall comprise
available during the following period: minimum 8 characters with at least one upper case
(A-Z), one lower case (a- z), one numeric (0-9)
The remote e-voting will not be allowed beyond the and a special character (@,#,$,etc.). The system
aforesaid date and time and the e-voting module shall will prompt you to change your password and
be disabled by Link Intime upon expiry of the aforesaid update your contact details like mobile number,
period. email ID, etc., on first login. You may also enter
a secret question and answer of your choice to
66
retrieve your password in case you forget it. It is [email protected] and to the Company at
strongly recommended that you do not share your [email protected]. They may also upload the
password with any other person and that you take same in the e-voting module in their login. The scanned
utmost care to keep your password confidential. image of the above-mentioned documents should be in
the naming format “Corporate Name EVENT NO”
(v) You need to login again with the new credentials.
It should reach the Scrutiniser and the Company by
(vi) On successful login, the system will prompt you to email not later than Sunday, August 06, 2023 at 05.00
select the EVEN for Computer Age Management P.M. (IST). In case if the authorized representative
Services Limited. attends the Meeting, the above-mentioned documents
shall be submitted before the commencement of AGM.
(vii) On the voting page, enter the number of shares
(which represents the number of votes) as on the cut- b. In case e-mail ID of a Member is not registered with the
off date i.e., July 31, 2023 under “FOR/ AGAINST” or Company/ Depository Participant(s), then such Member
alternatively, you may partially enter any number in is requested to register/ update their e-mail addresses
“FOR” and partially in “AGAINST” but the total number with the Depository Participant (in case of Shares held
in “FOR/ AGAINST” taken together should not exceed in dematerialised form) and inform the RTA at the email
your total shareholding as on the cut-off date. ID: [email protected] (in case of Shares held in
physical form):
(viii) Pursuant to Clause 16.5.3(e) of Secretarial Standard on
General Meetings (“SS-2”) issued by the Council of the (i) Upon registration, Member will receive an e-mail
Institute of Company Secretaries of India and approved from the RTA which includes details of E-Voting
by the Central Government in case a Member abstains Event Number (EVEN), USER ID and password.
from voting on a Resolution.
(ii) Please follow all steps from Note. No. 20 (a) (i)
i.e., the Member neither assents nor dissents to the to(xiii) above to cast your vote by electronic means.
Resolution, then his/her/ its vote will be treated as an
invalid vote with respect to that Resolution. 21. Voting during the AGM:
(i) The procedure for remote e-voting during the AGM
(ix) Members holding multiple folios/ demat accounts shall is same as the instructions mentioned for remote
choose the voting process separately for each of the e-voting since the Meeting is being held through
folios/ demat accounts. VC/OAVM.
(x) Voting has to be done for each item of the Notice (ii) The e-voting window shall be activated upon
separately. In case you do not desire to cast your vote instructions of the Chairman of the Meeting during
on any specific item, it will be treated as abstained. the AGM.
(xi) You may then cast your vote by selecting an appropriate (iii) E-voting during the AGM is integrated with the
option and click on “Submit”. VC platform and no separate login is required for
the same. The Members shall be guided on the
(xii) A confirmation box will be displayed. Click “OK” to process during the AGM.
confirm or else “CANCEL” to modify. Once you confirm,
you will not be allowed to modify your vote. During the (iv) Only those Members/Shareholders, who will be
voting period, Members can login any number of times present in the AGM through VC/OAVM facility and
till they have voted on the Resolution(s). have not cast their vote on the Resolutions through
remote e-voting and are otherwise not barred from
(xiii) Corporate/Institutional Members (i.e. other than doing so, shall be eligible to vote through e-voting
Individuals, HUF, NRIs, etc.) are required to send system in the AGM.
scanned certified true copy (PDF Format) of the
Board Resolution/ Authority Letter, etc., together with (v) Members who have cast their vote by remote
attested specimen signature(s) of the duly authorized e-voting prior to the AGM will also be eligible to
representative(s), to the Scrutinizer at e-mail ID: participate at the AGM but shall not be entitled to
[email protected] with a copy to cast their vote again.
67
22.
Scrutinizer for e-voting and Declaration of DP ID and Client ID/folio number, PAN, Mobile number
Results: at [email protected] from 09.00 A.M. (IST)
M/s. B. Chandra and Associates, Practising Company on July 27, 2023 (Thursday) till 05.00 P.M. (IST) on
Secretaries, has been appointed as Scrutinizer to July 31, 2023 (Monday). Those Members who have
scrutinize the e-voting process as well as e-voting registered themselves as a speaker will only be allowed
during the AGM, in a fair and transparent manner. to speak/express their views/ask questions during the
AGM. The Company reserves the right to restrict the
The Scrutinizer will, after the conclusion of the e-voting number of speakers depending on the availability of
at the Meeting, scrutinise the votes cast at the Meeting time at the AGM.
and votes cast through remote e-voting, make a
consolidated Scrutinizer’s Report and submit the same By Order of the Board
to the Chairman of the Company or any other person
of the Company authorised by the Chairman, who shall Sd/-
countersign the same. The Results shall be declared Manikandan Gopalakrishnan
not later than two working days from conclusion of the Company Secretary
Meeting.
Registered Office:
The Results declared along with the consolidated New No. 10, Old No. 178,
Scrutinizer’s Report shall be hosted on the website of the M.G.R. Salai, Nungambakkam,
Company at www.camsonline.com and on the website Chennai-600034, Tamilnadu, India
of Link Intime at evoting.linkintime.com immediately CIN: L65910TN1988PLC015757
after the Results are declared and will simultaneously Email: [email protected]
be forwarded to BSE Limited and the National Stock Website: www.camsonline.com
Exchange of India Limited, where Equity Shares of the Place: Chennai
Company are listed. Date: June 16, 2023
The Resolutions shall be deemed to be passed on the

date of the Meeting, i.e., August 07, 2023, subject to
receipt of the requisite number of votes in favour of the “If you have any dispute against a listed company and or its
Resolutions. RTA on delay or default in processing your request, as per
SEBI circular dated 30.05.2022, you can file for arbitration
23. Speaker Registration before AGM: with Stock Exchange.”
Members of the Company, holding shares as on the cut-

For more details, please see the web links of the
off date i.e., July 31, 2023 and who would like to speak
stock exchanges: BSE - http://tiny.cc/m1l2vz NSE -
or express their views or ask questions during the AGM
http://tiny.cc/s1l2vz
may register as speakers by sending their request from
their registered e-mail address mentioning their Name,
68
STATEMENT PURSUANT TO SECTION 102 OF THE ACT

ORDINARY BUSINESS
(I) ITEM NO. 3
Details of Director(s) seeking re-appointment at the forthcoming Annual General Meeting.
Mr. Sandeep Kagzi, Non-Executive Nominee Director of the Company, retires by rotation and being eligible, has offered
himself for re-appointment. Mr. Sandeep Kagzi has confirmed that he is not debarred from holding the office of Director
by virtue of any SEBI Order or any other such authority pursuant to circulars dated June 20, 2018 issued by BSE Limited
and the National Stock Exchange of India Limited pertaining to Enforcement of SEBI Orders regarding appointment of
Directors by listed companies.
Considering Mr. Sandeep Kagzi’s skills, competency , expertise and experience, the Board is of the opinion that it would
be in the interest of the Company to re-appoint him as a Director of the Company.
Information as required under Regulations 36(3) of the Listing Regulations and Clause 1.2.5 of the SS-2 is given hereunder:
Name of the Director Mr. Sandeep Ramesh Kagzi
DIN 08264768
Age 39 years
Date of First appointment on the Board 25/04/2022
Brief Resume, Qualification(s), Experience Mr. Sandeep is a Managing Director of Warburg Pincus India Private Limited.
and Nature of expertise in specific functional Prior to joining WP, he worked at J.P. Morgan in the Industrials Investment
areas, Recognition or awards. Banking Group in New York. He received a B.S., in Economics and Computer
Science from Duke University and an M.B.A. from the Stanford Graduate
School of Business, where he was an Arjay Miller Scholar.
Terms and conditions of appointment/ Liable to retire by rotation
re- appointment
Details of remuneration sought to be paid Nil
Details of remuneration last Drawn Nil
(F.Y. 2022- 23)
Shareholding in the Company Nil
Relationship with other Directors and Key Mr. Sandeep is not related to any of the Directors and KMPs of the Company
Managerial Personnel
Number of Board Meetings attended during 7
the Financial Year 2022-23
Directorships held in other Companies S. No. Company Designation
1. Warburg Pincus India Private Limited Managing Director
Chairmanship/ Membership of Board Nil
Committees of other Companies
Listed entities from which the Director has Nil
resigned in the past three years
The Board recommends the passing of Item No. 3 as an Ordinary Resolution for your approval.
None of the Directors, Key Managerial Persons (KMPs) of the Company or any relatives of such Director or KMPs, shall be
considered to be concerned or interested, financially or otherwise, in the said resolution except Mr. Sandeep Kagzi.
(II) ITEM NO. 5

This Explanatory Statement is in terms of Regulation 36(5) of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’), though statutorily not required
in terms of Section 102 of the Act.
69
The Members at the Annual General Meeting (‘AGM’) Besides the audit services, the Company would also
of the Company held on June 25, 2018, had approved obtain certifications from the Statutory Auditors under
appointment of M/s. Brahmayya and Co., Chartered various statutory regulations and certifications required
Accountants (Firm Registration No. 000511S), as the by clients, banks, statutory authorities, audit related
Statutory Auditors of the Company to hold office from services and other permissible non-audit services
the conclusion of the Thirtieth AGM till the conclusion of as required from time to time, for which they will be
the Thirty Fifth AGM of the Company to be held in the remunerated separately on mutually agreed terms,
year 2023. as approved by the Board in consultation with the
Audit Committee.
The term of office of M/s. Brahmayya and Co,
Statutory Auditors is expiring at the conclusion of the The Board, in consultation with the Audit Committee,
forthcoming Annual General meeting of the Company. may alter and vary the terms and conditions of
They have completed two terms and are not eligible for appointment, including remuneration, in such manner
reappointment. Based on the recommendation of the and to such extent as may be mutually agreed with the
Audit Committee at its meeting held on April 14, 2023, Statutory Auditors.
the Board has recommended to the shareholders at their
The Board recommends the passing of Item No. 5 as an
meeting held on May 06, 2023 the appointment of M/s.
Ordinary Resolution for your approval.
S R Batliboi and Associates LLP (ICAI Firm Registration
No. 101049W/E300004), as the statutory auditors of
None of the Directors, Key Managerial Persons (KMPs)
the Company after evaluating and considering various
of the Company or any relatives of such Director or
factors such as industry experience, competency of the
KMPs, shall be considered to be concerned or interested,
audit team, efficiency in conduct of audit, independence,
financially or otherwise, in the said resolution.
etc. for a term of five years from the conclusion of
Thirty fifth AGM till the conclusion of Fortieth AGM of SPECIAL BUSINESS
the Company, at a remuneration as may be mutually
(III) ITEM NO. 6
agreed between the Board and the Statutory Auditors.
In order to make the main object clause of the
M/s. S R Batliboi and Associates LLP have consented Memorandum of Association (“MOA”) to include
to their appointment as the Statutory Auditors and have activities permitted to be undertaken by a Payment
confirmed that the appointment, if made, would be Aggregator from time to time and based on the directions
within the limits specified under Section 141(3)(g) of the provided by the Reserve Bank of India in its In-Principle
Act and that they are not disqualified to be appointed approval letter dated 14.02.2023, it is proposed to
as the Statutory Auditors in terms of the provisions of modify the main object clause of the Memorandum of
Association of the Company to include the activities of
Section 139 and 141 of the Act, Chartered Accountants
Payment Aggregator.
Act, 1949, and the Rules framed thereunder.
The Board at its meeting held on May 06, 2023 has

M/s. S R Batliboi and Associates LLP is proposed to
approved alteration of the MOA of the Company. The
be paid a remuneration as per Section 142 of the Act
proposed change of object clause requires the approval
of as follows and there is no material change in the
of shareholders through Special Resolution pursuant to
remuneration compared to the outgoing auditor.
the provisions of Section 13 of the Act.
Scope Proposed Fee A copy of the proposed MOA of the Company would
in ` Lakhs be available for inspection for the Members at the
Statutory audit of standalone 23.00 Corporate Office of the Company during the office
financial statement for the year hours on any working day, except Saturdays, Sundays
ending March 31, 2024 and public holidays, between 11.00 a.m. to 5.00 p.m.
Statutory audit of consolidated till the date of AGM. The aforesaid documents are also
financial statement for the year available for inspection at the AGM.
ending March 31, 2024
Limited Review for three quarters 11.25 The Board recommends the passing of Item No. 6 as a
Total 34.25 Special Resolution for your approval.
70
None of the Directors, Key Managerial Persons (KMPs) of the Act along with sitting fees for attending Board /
of the Company or any relatives of such Director or Committee meetings, effective from the Financial Year
KMPs, shall be considered to be concerned or interested, 2023-24 as laid down below.
financially or otherwise, in the said resolution.
• Mr. D K Mehrotra, Chairman: ` 30,00,000/- per annum
(IV) ITEM NO. 7: • Mr. Natarajan Srinivasan: ` 25,00,000/- per annum

The members at their meeting held on September 01, • Mrs. Vijayalakshmi Iyer: ` 25,00,000/- per annum
2020, had approved the payment of commission to
Independent Directors for the Financial Year 2020-21 The Board recommends the passing of Item No. 7 as an
amount not exceeding 1% per annum of the net profits Ordinary Resolution for your approval.
of the Company calculated in accordance with the
provisions of the Act. None of the Directors, Key Managerial Persons (KMPs)
of the Company or any relatives of such Director
The Company’s Independent Directors are leading or KMPs, shall be considered to be concerned or
professionals with high level of expertise and rich interested, financially or otherwise, in the said resolution
experience in functional areas such as business except the Independent Directors.
strategy, financial governance, corporate governance,
research & innovation amongst others. The Company’s
Directors have been shaping and steering the long-term By Order of the Board
strategy and making invaluable contributions towards
Sd/-
group level strategy, monitoring of risk management
and compliances.
Company Secretary
Considering that the present remuneration was fixed Registered Office:
three years ago, the members of Nomination and New No. 10, Old No. 178,
Remuneration Committee and Board of Directors had M.G.R. Salai, Nungambakkam,
approved the resolution on June 02, 2023 and June 07, Chennai-600034, Tamilnadu, India
2023 respectively for recommending the proposal for CIN: L65910TN1988PLC015757
revised remuneration payable to Independent Directors Email: [email protected]
of the Company, by way of commission or otherwise, Website: www.camsonline.com
not exceeding 1% (one percent) of the net profits of the Place: Chennai
Company calculated in accordance with the provisions Date: June 16, 2023
71
Board’s Report
Dear Members,
Your Directors are pleased to present the Company’s Thirty Fifth Annual Report and audited financial statements for the year
ended March 31, 2023.
1. FINANCIAL HIGHLIGHTS
The highlights of the Consolidated and Standalone Financial Results are as follows:
Consolidated Standalone
For the For the For the For the
Particulars
FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22
In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs
Revenue from Operations 97,183 90,967 92,862 86,377
Other Income 2,681 1,727 2,115 3,976
Total Income 99,864 92,694 94,977 90,353
Operating expenses 47,034 41,474 45,245 40,950
Other expenses 8,025 7,080 7,091 6,416
Operating Profit 44,804 44,140 42,641 42,987
Depreciation 6,025 5,162 5,420 4,740
Interest 761 713 667 662
Profit Before Tax 38,019 38,265 36,555 37,584
Tax Expenses 9,555 9,570 9,101 8,643
Profit for the year 28,463 28,695 27,454 28,941
Other Comprehensive Income 21 41 (11) 104
Total Comprehensive Income for the year 28,442 28,736 27,443 29,046
Earnings per Equity Share
Basic 58.26 58.73 56.07 59.23
Diluted 57.88 58.41 55.71 58.91
Other Equity (including retained earnings) 73,273 59,873 67,906 55,567
Cash and Cash Equivalents and Investments 48,101 37,905 59,307 47,983
(excluding customer collection accounts & lien
deposits and including subsidiary investments in the
case of standalone)
2. OVERVIEW OF PERFORMANCE The year has been generally robust for mutual fund
During FY2022-23, the consolidated revenue from Industry, with significant growth in key metrics -
operations of the Company was at ` 97,183 lakhs as transactions, AUM & SIPs – both count & collections.
against ` 90,967 lakhs in the previous year. The Profit SIP new registrations also continued the unabated
Before Tax was ` 38,019 lakhs as against the previous growth trend. The industry also launched new products
year PBT of ` 38,265 lakhs. The Earnings Per Share across the board during the year. New offerings have
was ` 58.26 as against the previous year which was at come in the form of flexicap funds, multicap funds,
` 58.73 per share. FoFs, ETFs and index funds.
72
The year witnessed the capital markets weighing- as per the scheme is 14,62,800. Out of the same
in the impact of various macroeconomic events like 12,56,049 options have already been issued and
the Russia-Ukraine war, high inflation, increasing 2,33,596 shares have been issued against the exercise
commodity prices and crypto currency crash and of the vested options.
reports of China Covid surge. However, the MF
Industry remained buoyant and continued to make new 4. RESERVES
highs and the Assets Under Management (AUM) of the The Company does not propose to transfer any amount
industry crossed a record ` 40 lakh crore during the to the Reserves.
year and was close to this level as of March 31, 2023.
The number of folios also hit a record high and was at 5. DIVIDENDS
5.74 crore as of March 31, 2023. CAMS transaction

The Company has a Dividend Distribution Policy
volumes were close to 500 million transactions valued
approved by the Board on November 4, 2022, containing
at about ` 150 trillion which is a record high.
the requirements prescribed in Regulation 43A of the
SEBI (Listing Obligations & Disclosure Requirements)
Considering the focus of the industry, the strong
Regulations, 2015 (“SEBI LODR Regulations”).
regulatory framework, the digitalisation of the modes
The Dividend Distribution Policy is as also available
of investments, the enhanced growth in the corporate
on the website of the Company at the web-link:
earnings, higher disposable income, and investable
https://digital.camsonline.com/cams/documents/
household surplus, it is felt that the mutual fund industry
policies/Dividend%20Distribution%20Policy.pdf.
is on a strong footing, and there is strong reason to
believe that the products and services offered by the During the year, your Directors declared and paid
industry would see rapid uptake in coming years. three interim dividends totaling ` 25.75/- per equity
share on the dates specified below. The Directors are
SIP continues to be a popular investment mode and also recommending a final dividend of ` 12/- per equity
the inflows from the SIPs have resulted in significant share at the face value of ` 10/-. This will be paid subject
expansion of the market during the year. The to the same being approved by the shareholders at
Systematic Investment Plan (SIP) accounts were at a the Annual General Meeting scheduled to be held on
record 6.36 crore as on March 31, 2023. MF penetration August 7, 2023.
also increased significantly due to the digital modes
available for the investment. There were several New Details of Interim Dividend Paid:
Fund Offers (NFO) launched during the year which Particulars Approval Payment Dividend Dividend
were well received by the market. Though the recent Date Date per equity paid
changes in the taxability relating to long term capital share
gain are expected to impact the attractiveness of the First Interim 05.08.22 26.08.22 6.75 33,02,87,227
debt funds, expansion of the investment horizon will Dividend
also play a critical role in providing a fillip to the industry.
Second 04.11.22 28.11.22 8.50 41,59,17,249
Interim
The company continues to make significant progress
Dividend
in operational excellence and the recent customer
Third Interim 07.02.23 24.02.23 10.50 51,37,80,131
satisfaction survey showed a response of 96.1% of the
Dividend
respondents stating it as very satisfied/satisfied.
25.75 125,99,84,607
3. SHARE CAPITAL
There were no changes to the authorized share capital 6. IMPACT OF COVID-19
during the year. The issued capital as of March 31, With normalcy returning post the Covid waves, the
2023, was ` 48,99,35,960/- as against ` 48,90,34,700/- company started full operations from the offices and the
during the previous year. The enhancement in the work from home model was discontinued. However, we
paid-up capital is due to the allotment of shares to the are seeing reports of surge in COVID, with the country
employees against the conversion of the ESOP which logging increasing number of cases every week. This
has become vested to them during the year. is but a trigger that demands meticulous preparation
for our business operations. The company is closely
The Company has an Employees Stock Option Plan monitoring the situation and is fully prepared for
under which the total quantum of options approved handling the situation that may arise.
73
7. STATE OF THE COMPANY’S AFFAIRS operations which are funded through internal accruals.
Your Company serves as the technology enabled It is not availing any kind of working capital facility from
service solutions partner to Mutual Funds and Private the Banks or financial institutions. As on March 31,
Equity Funds. It also provides electronic payment 2023, the consolidated liquidity position of the Company
solutions, fully automated software solutions for was ` 48,101 lakhs [excluding Fixed Deposit(s) under
seamless reconciliation for complex activity of payments Lien of ` 118 lakhs for issue of Guarantee by Banks] as
and settlements and Facility for Banks and NBFCs for against ` 37,905 lakhs as on March 31, 2022 [excluding
lien marking against mutual fund units. The Company Fixed Deposit(s) under Lien of ` 2,067 lakhs for issue of
also extends the facility of call center operations to Guarantee by Banks].
its various clients and acts as Depository Participant
9. SUBSIDIARY COMPANIES
for Investors. Being a Central Recordkeeping Agency
(CRA), it caters to the NPS investors. Through its a) Wholly owned subsidiaries
subsidiaries it provides the following services: CAMS Insurance Repository Services Limited

(“CAMS REP”) is licensed by IRDAI to offer

Insurance Repository services and outsourcing
Insurance Repository services to Insurance policy
services for insurance companies
holders. The Company has developed outsourcing
Account Aggregator services solutions for new business processing and policy
holder services for insurance companies. CAMS
Software services for the AMCs and services as
REP serves leading Life, Health, and General
a Technology Service Provider for entities in the
insurance companies. It has also launched industry
Account Aggregator platform
first “PolicyGenie Deep Contact Tracing product”,
Know Your Customer (KYC) registration services an efficient and cost-effective solution leveraging
as a registered KYC Registration Agency (“KRA”) emerging digital technologies.
Payment Aggregator services for AMCs, Insurance
CAMS Investor Services Private Limited (“CAMS

companies and NBFCs
KRA”) is registered with Securities and Exchange
Board of India as a KYC Registration Agency and
The Company is registered with the Securities and
is licensed for implementation of SEBI’s vision of
Exchange Board of India (SEBI) to provide Registrar &
a harmonized KYC process. During the year, it
Transfer Agency services to Mutual Funds. It has been
crossed a milestone of having more than 10 million
classified as a Qualified Registrar and Transfer Agent
KYC records.
(QRTA) as it manages more than 2 million folios. The
company is regulated by the Pension Fund Regulatory
Sterling Software Private Limited (“SSPL”) is the

and Development Authority for the CRA Operations and
software development arm for the group and brings
by Reserve Bank of India for its payment aggregator
high specialization in building technology solutions
business. The subsidiaries of the company are
for financial services domain. SSPL during the
also registered with sectoral regulators, details of
year has developed appropriate solutions for use
which is furnished as part of this report. As regulated
by entities accessing data through the Account
organizations, the Company and its subsidiaries bring
Aggregator platform.
the highest standards of service delivery and adherence
to regulations. CAMS Financial Information Services Private

Limited (“CAMS FIS”) is carrying on the business
Information on the operational and financial performance of “Account Aggregator”. The Company has
among others is provided in the Management Discussion received the Certificate of Registration from
and Analysis Report (“MD&A Report”) which forms part Reserve Bank of India (“RBI”) as a Non-Banking
of the Annual Report and is in accordance with the SEBI Finance Company – Account Aggregator and has
LODR Regulations. commenced commercial operations.
8. CAPITAL EXPENDITURE AND LIQUIDITY CAMS Payment Services Private Limited

The operations of the Company are not capital intensive. (“CAMS PAY”) has been incorporated for carrying
The capital expenditure is incurred mainly towards on the business of “Payment Aggregator”. At
upgradation of technology, improvements to the cyber present it is not carrying on any business activity.
security and physical infrastructure required for its It is intended that the payments business which is
74
being carried out by CAMS will be taken over by this In accordance with the third proviso to Section
subsidiary subject to various regulatory approvals. 136(1) of the Act, the Annual Report of the
Company, containing therein its Standalone and the
b) Other subsidiaries Consolidated Financial Statements are available
Fintuple Technologies Private Limited on the Company’s website at the web-link:
(“Fintuple”) is providing the digital layer of h t t p s : / / w w w. c a m s o n l i n e . c o m / a b o u t - c a m s /
infrastructure to all aspects of the asset shareholder-relations/annual-report
management industry through a single source
including data & insights, onboarding of investors, Any Shareholder who may be interested in
know your customer, marketing, portfolio analytics, obtaining a copy of the aforesaid documents may
transactions & execution, and ancillary services. write to the Company Secretary at the Company’s
CAMS owns 53.99 % of the issued capital of Corporate Office. Further, the said documents will
the company. be available for examination by the Shareholders
of the Company at its Registered Office during all
Sterling Software (Deutschland) Gmbh – which
working days except Saturday, Sunday, Public
was a wholly owned subsidiary of Sterling Software Holidays and National Holidays, between 10.00
Private Limited has been deleted from the German AM to 12.00 Noon up to the date of the ensuing
commercial register with effect from November 15, Annual General Meeting.
2022 and has ceased to exist from the above date.
10. RELATED PARTY TRANSACTIONS
Think Analytics India Private Limited (TAIPL)
During the year under review, the contracts and
On April 04, 2023, the Company acquired 55.42% arrangements with subsidiaries have been entered into
share capital of TAIPL, which has become a by the Company in its ordinary course of business and at
subsidiary from the above date. TAIPL offers arm’s length. These Related Party Transactions (“RPT”)
Software as a Service (SaaS) based products and were not material transactions under Regulation 23 of
data science services to its customers in India the Listing Regulations.
and abroad and is in the process of launching
analytical solutions suitable for use with the There were no materially significant related party
Account Aggregator framework. transactions with the Promoters, Directors, and Key
Managerial Personnel, which may have a potential
Think Analytics Consultancy Services Pvt. Ltd conflict with the interest of the Company at large. Given
& Think 360 AI, Inc. based in Ohio, USA that the Company does not have anything to report
pursuant to Section 134(3)(h) of the Act read with Rule
The above companies are the subsidiaries of
8(2) of the Companies (Accounts) Rules, 2014 in Form
TAIPL and have become step down subsidiaries of
No. AOC- 2, the same is not provided.
the company with effect from April 04, 2023.
A report on the performance and financial position The attention of members is drawn to Note No. 31 to the
of the subsidiaries whose financial statements Standalone Financial Statements which sets out related
are considered for preparation of Consolidated party disclosure.
Financial Statements of the Company as per the
Act (in the prescribed format i.e., “Form AOC- The RPT Policy as approved by the Audit Committee and
1”) is provided as Annexure to the Consolidated the Board is available on the website of the Company:
Financial Statements. https://digital.camsonline.com/cams/documents/policies/
Related%20Party%20Transactions%20Policy.pdf
The policy for determining material subsidiaries as
approved by the Board may be accessed on the 11. LOANS, GUARANTEES AND INVESTMENTS
Company’s website at the web-link: IN SECURITIES

https://digital.camsonline.com/cams/documents/ Details of investments made by the Company as on
policies/Policy%20on%20Material%20 March 31, 2023, in the subsidiaries and investment of
Subsidiaries.pdf surplus funds in Mutual Funds and Bank deposits made
in the regular course of the business have been included
None of the subsidiaries of the Company fall under in Notes of the Standalone Financial Statements. Other
the category of material subsidiary. than above, the Company has not given loans, made
75
investments, or provided guarantees or securities as Non-Executive Non-Independent Director

covered under Section 186 of the Companies Act, 2013. Mr. Vedanthachari Srinivasa Rangan is a Non-Executive
Non-Independent Director of the Company. Previously
12. NUMBER OF BOARD MEETINGS HELD he was the Nominee of HDFC Limited, one of the
The Board of Directors of the Company met Seven Shareholders of the Company.
times during the FY2022-23. The meetings were held
on the following dates: Managing Director
May 05, 2022 Mr. Anuj Kumar is the Managing Director of the Company
and was appointed by the shareholders at the Annual
August 05, 2022 General Meeting held on July 29, 2021 for a term of five
October 17, 2022 years effective from August 01, 2021.
November 04, 2022 Changes in the Board of Directors

February 07, 2023 There have been no changes in the Board of Directors
March 04, 2023 during the year. As per the provisions of the Companies
Act, 2013, Mr. Sandeep Kagzi will retire as director
March 24, 2023 at the Annual General Meeting and being eligible,
seeks re-appointment. The Board recommends his
The details of the Board Meetings and attendance of re-appointment.
Directors are provided in the Corporate Governance
Report, which forms a part of this Annual Report. 14. FAMILIARIZATION PROGRAMME FOR THE
INDEPENDENT DIRECTORS
13.
DIRECTORS AND KEY MANAGERIAL
The Company has a Familiarization Programme which
PERSONNEL
provides Orientation at the time of the appointment

As of March 31, 2023, your Company had of Independent Directors which covers their role and
7 Directors, which includes 3 Independent Directors, responsibilities, overview of the industry, operations,
2 Non-Executive Nominee Directors, 1 Non-Executive and business model of the Company. They are provided
Non-Independent Director and 1 Managing Director. with copies of the Company’s latest Annual Reports,
relevant provisions of the SEBI LODR Regulations, the
Independent Directors Companies Act, 2013, Code of Conduct prescribed for

Mr. Dinesh Kumar Mehrotra is the Chairman & the Board of Directors, Prevention of Insider Trading
Independent Director of the Board. Mr. Natarajan regulations and other internal policies to help them get a
Srinivasan is an Independent Director of the Board. broad view of the Company’s procedures and practices.
Mrs. Vijayalakshmi Rajaram Iyer is an Independent
Director and Women Director of the Board. During the year, there was no appointment of any new
Independent Directors and hence the above orientation
In accordance with the provisions of Section 149 of programme was not relevant. The Company’s
the Companies Act, 2013, the Independent Directors Ongoing Familiarization Programme covers periodic
have given a declaration that they meet the criteria of presentations at the Board Meetings providing insights
independence as provided in the said Section and in into the Company, the business environment, risks
terms of the SEBI LODR Regulations. and opportunities and other matters relevant to the
Company. Regulatory changes as relevant for the
Non-Executive Nominee Directors company are also highlighted in these presentations.
Mr. Narendra Ostawal and Mr. Sandeep Kagzi are
Non-Executive Nominee Directors of the Company The details of the familiarization policy may be accessed
representing Great Terrain Investments Limited, on the Company’s corporate website:
Promoter of the Company. h ttps://digital.camsonline.com/cams/documents/
policies/Familiarization%20Program%20for%20
Independent%20Directors.pdf
76
15.
P ERFORMANCE EVALUATION OF THE control system is supplemented by Internal audits. An
BOARD, COMMITTEES, AND INDIVIDUAL external audit firm carries out the Internal Audits. The
DIRECTORS Audit Committee of the Board of Directors reviews the

The Companies Act, 2013 and the SEBI LODR reports of the Auditors at the quarterly meetings.
Regulations stipulate the evaluation of the performance
of the Board, its Committees, Individual Directors, and A Risk Management Policy for identification, assessment,
the Chairperson. measurement, and reporting of business risks faced
by the Company is in place. The Risk Management
The Company has formulated a Board Evaluation Committee oversees the Risk Management framework
template for performance evaluation of the Independent on a periodic basis. There is a designated Chief Risk
Directors, the Board, its committees, and other individual Officer and the risk Control and Mitigation mechanisms
Directors which includes criteria for performance are tested for their effectiveness on regular intervals.
evaluation of the Non-Executive Directors and Executive
Directors. 17. AUDIT COMMITTEE

The Board has constituted an Audit Committee
The template provides the criteria for assessing the comprising of the following Directors and during the
performance of Directors and comprises of various key year under review, all recommendations of the Audit
areas such as attendance at Board and Committee Committee were accepted by the Board.
Meetings, quality of contribution to Board discussions
Mr. Natarajan Srinivasan - Chairman
and decisions, strategic insights, or inputs regarding
future growth of the Company and its performance, Mr. Dinesh Kumar Mehrotra
ability to challenge views in a constructive manner, Mrs. Vijayalakshmi Rajaram Iyer
knowledge acquired regarding the Company’s
business/ activities, understanding of industry and Mr. Sandeep Ramesh Kagzi
global trends, etc.
18. AUDITORS
The evaluation involves self-evaluation by the Board (i) Statutory Auditors
Member and subsequent assessment by the Board of M/s. Brahmayya & Co., Chartered Accountants
Directors. A member of the Board will not participate in (ICAI Firm Registration No.000511S), were
the discussion of his/her evaluation. appointed as Statutory Auditors of the Company at
the 30th Annual General Meeting (“AGM”) to hold
The formal Board evaluation as mandated under the office for a period of five years, commencing from
Companies Act and SEBI LODR Regulations has been the conclusion of the 30th AGM held on June 25,
carried out during the year. 2018, till the conclusion of the 35th AGM of the
Company to be held in the year 2023. The Auditor’s
16.
I NTERNAL FINANCIAL CONTROLS AND Report annexed to the financial statements for the
RISK MANAGEMENT year under review issued by M/s. Brahmayya &
The Company has in place adequate internal financial Co does not contain any qualification, reservation,
controls commensurate with the nature and size of the adverse remark, or disclaimer.
business activity and with reference to the financial
statements. The controls comprise of policies and As the term of the existing auditor is getting
procedures for ensuring orderly and efficient conduct completed at the forthcoming Annual General
of the Company’s business, including adherence to its Meeting and they are not eligible for reappointment,
policies, the safeguarding of its assets, the prevention the Board of Directors at their meeting held
and detection of frauds and errors, the accuracy and on May 06, 2023 has recommended to the
completeness of the accounting records and the timely shareholders the appointment of M/s. S.R. Batliboi
preparation of reliable financial information. and Associates LLP as the statutory auditors for a
period of five years who shall hold office up to the
The Company has also secured Service Organization conclusion of the 40th Annual General Meeting of
Control Compliance SOC 1 in accordance with SSAE the Company. The same is being placed before the
16 and SOC 2 under AICPA. The Company is also ISO shareholders for their consideration and approval.
9001-2008 and ISO 27001 certified. The internal financial
77
(ii) Secretarial Auditors The policy is available on the website of the Company at
The Company has appointed Ms. B. Chandra, the link:
Practicing Company Secretary (Certificate of h ttps://digital.camsonline.com/cams/documents/
Practice No. 7859), to conduct Secretarial Audit as policies/Nomination%20and%20Remuneration%20
per the requirements of Section 204(1) of the Act Policy.pdf
read with Rule 9 of the Companies (Appointment
and Remuneration of Managerial Personnel) 22. WHISTLE BLOWER POLICY
Rules, 2014. In accordance with Section 177(9) of the Companies
Act, 2013 read with Rule 7 of the Companies (Meetings
The Secretarial Audit Report in Form MR-3 for of Board and its Powers) Rules, 2014 and Regulation
the financial year under review, as received from 22 of the SEBI LODR Regulations, the Company has
Ms. B. Chandra, Practicing Company Secretary is adopted a Whistle Blower Policy which provides for
attached as an Annexure to the Board’s Report. adequate safeguards against victimization of persons
who use Vigil Mechanism and make provision for direct
19. CORPORATE SOCIAL RESPONSIBILITY access to the Chairperson of the Audit Committee.
The company is committed to increasing its Corporate
Social Responsibility (CSR) impact with an aim of The policy is available on the website of the Company at
playing a bigger role in the sustainable development the link:
of our society. In pursuit of this objective, a Corporate h ttps://digital.camsonline.com/cams/documents/
Social Responsibility (CSR) Committee has been policies/Whistle%20Blower%20Policy.pdf
formed by the Company which oversees the activities
relating to activities supporting the social and 23. CONSERVATION OF ENERGY, TECHNOLOGY
environmental causes. ABSORPTION, AND FOREIGN EXCHANGE
EARNINGS AND OUTGO

The Company has in place a Corporate Social
The in respect of conservation of energy, technology
Responsibility Policy pursuant to the provisions of
Section 135 of the Companies Act, 2013 read with absorption and foreign exchange earnings and outgo,
the Companies (Corporate Social Responsibility as required under sub-section (3) (m) of Section 134 of
Policy) Amendment Rules, 2021. The policy is the Companies Act, 2013 read with Rule (8)(3) of the
available on the website of the Company at the link: Companies (Accounts) Rules, 2014 are given as under:
https://digital.camsonline.com/cams/documents/
financial_information/CSR%20Policy.pdf (i)
Conservation of energy – The Company’s
operations are not energy intensive. Adequate
The initiatives undertaken by your Company during measures have been taken to conserve energy
the year have been detailed in CSR Section of the wherever possible.
Annual Report. The Annual Report on CSR activities
in accordance with the Companies (Corporate Social (ii) Technology absorption – The Company employs
Responsibility Policy) Amendment Rules, 2021, is set a homegrown platform in its operations and uses
out herewith as Annexure to this Report. appropriate technology in its maintenance and
improvements.
20. RISK MANAGEMENT POLICY

The Company has in place a Risk Management (iii)
Foreign exchange earnings and outgo – The
Policy which contains the risk management principles, information on foreign exchange earnings and
risk governance structure and the risk management outgo is furnished in Note No. 30 of the Standalone
framework. The policy is available on the website of Financial Statements.
the Company at the link: https://digital.camsonline.com/
cams/documents/policies/Risk%20Management%20 24. CORPORATE GOVERNANCE
Policy.pdf Your Company is committed to maintaining the best
standards of Corporate Governance and has always
21. NOMINATION AND REMUNERATION POLICY tried to build the maximum trust with shareholders,
In accordance with Section 178 of the Companies Act, employees, customers, suppliers, and other
2013 and the SEBI LODR Regulations the Company has stakeholders.
a Board approved Nomination and Remuneration Policy.
78

A Report on Corporate Governance along with f)
the Directors have devised proper systems
a Certificate from the Secretarial Auditors of the to ensure compliance with the provisions of
Company regarding compliance with the conditions of all applicable laws and that such systems are
Corporate Governance as stipulated under Schedule adequate and operating effectively.
V of the SEBI LODR Regulations forms part of the
Annual Report. 28.
S IGNIFICANT AND MATERIAL ORDERS
PASSED BY THE REGULATORS OR COURTS
25. B U S I N E S S RESPONSIBILITY AND During the year under review, no significant / material
SUSTAINABILITY REPORT orders were passed by the regulators or the Courts or

Pursuant to Regulation 34 of the SEBI LODR the Tribunals impacting the going concern status and
Regulations, Business Responsibility and Sustainability the Company’s operations in future.
Report for the year is presented in a separate section
forming part of the Annual Report. 29. LISTING WITH STOCK EXCHANGES
The Company is listed in BSE Limited and National
26. ANNUAL RETURN Stock Exchange of India Limited. The Company
As per the provisions of Section 92(3) of the Act has paid the Annual Listing Fees applicable to both
read with Rule 12 of the Companies (Management these Exchanges.
and Administration) Rules, 2014 as amended from
time to time, the Annual Return of the Company has 30.
U N PA I D D I V I D E N D A N D I N V E S TO R
been placed on the website of the Company and can EDUCATION AND PROTECTION FUND (IEPF)
be accessed: https://digital.camsonline.com/cams/ The Company has displayed on its website the details
documents/annual_return_form/MGT-7.pdf of unpaid dividend in accordance with Section 124(2) of
the Companies Act, 2013. During the year under review,
27. DIRECTOR’S RESPONSIBILITY STATEMENT the Company has not transferred any amount to the
IEPF as no amounts were due to be transferred.
In accordance with Section 134(5) of the Companies
Act, 2013, your Directors state that:
31. PREVENTION OF SEXUAL HARASSMENT OF
a)
in the preparation of the annual accounts for WOMEN AT WORKPLACE
the year ended March 31, 2023, the applicable The Company has in place an appropriate Policy
accounting standards have been followed and on Prevention of Sexual Harassment of Women
there are no material deviations from the same. at Workplace in accordance with the provisions of
The Sexual Harassment of Women at Workplace
b) they have selected such accounting policies and (Prevention, Prohibition and Redressal) Act, 2013, to
applied them consistently and made judgments prevent sexual harassment of its employees. Internal
and estimates that are reasonable and prudent so Complaints Committee has been set up to redress
as to give a true and fair view of the state of affairs complaints received on sexual harassment.
of the Company as of March 31, 2023, and of the
profit of the Company for year ended on that date. The Policy has been communicated internally to all
employees and is made available on the Company’s
c) they have taken proper and sufficient care for the Intranet Portal. During the year, no cases were reported
maintenance of adequate accounting records in and there were no cases pending as on March 31, 2023.
accordance with the provisions of the Companies
Act, 2013 for safeguarding the assets of the 32. EMPLOYEE STOCK OPTIONS
Company and for preventing and detecting fraud The Company has an Employee Stock Option Plan for
and other irregularities. the Employees of the Company and its Subsidiaries
named as “CAMS Employee Stock Option Plan,
d) t
hey have prepared the annual accounts on a 2019”. The Plan is in compliance with the SEBI (Share
going concern basis. Based Employee Benefits) Regulations, 2014 and is
administered by the Nomination and Remuneration
e) they have laid down Internal Financial Controls to Committee of the Board constituted by the Company
be followed by the Company and that such Internal pursuant to the provision of Section 178 of the
Financial Controls are adequate and are operating Companies Act, 2013. The scheme has been approved
effectively; and by the shareholders on July 29, 2021.
79
The details of the Employee Stock Options Plan forming financial year of the Company i.e., March 31, 2023, and
part of the Notes to accounts of the Financial Statements as on the date of this Board’s Report.
in this Annual Report and available on our website
www.camsonline.com No disclosure is required in respect of the details relating
to the deposits under Chapter V of the Companies Act,
33. P
ARTICULARS OF EMPLOYEES AND RELATED 2013 as the Company has not accepted any deposits.
DISCLOSURES
The information required pursuant to Section 197(12) The Company is not required to maintain cost records
of the Companies Act, 2013 read with Rule 5(1) under Section 148 of the Companies Act, 2013.
of Companies (Appointment and Remuneration of
Managerial Personnel) Rules, 2014 is also enclosed as 36. ACKNOWLEDGEMENTS
an Annexure to this Report. Your Directors wish to thank the Asset Management
Companies, Private Equity Funds, Banks, NBFCs,
The information pursuant to Section 197(12) of the Insurance Companies and the Bankers with whom the
Companies Act, 2013 read with Rule 5(2) & 5(3) of Company is having a business relationship and look
the Companies (Appointment and Remuneration of forward to their continued support.
Managerial Personnel) Rules, 2014 pertaining to the
top ten employees in terms of remuneration drawn and Your Directors would also like to thank Ministry of
their other details also form part of this report. However, Corporate Affairs, Securities and Exchange Board of
the report and the accounts are being sent to the India, Reserve Bank of India, Insurance Regulatory and
members excluding the aforesaid annexure. In terms of Development Authority of India, Unique Identification
Section 136 of the Act, the said annexure is open for Authority of India and Pension Fund Regulatory
inspection at the Registered Office of the Company. Any and Development Authority for their guidance and
shareholder interested in obtaining a copy of the same support during the year and look forward for their
may write to the Company Secretary. support in future. Your Directors also wish to thank the
shareholders, Stock Exchanges and Depositories for
34. SECRETARIAL STANDARDS their continued support and cooperation.
During FY 2022-23, the Company has complied with
applicable Secretarial Standards issued by the Institute Your Directors also wish to place on record their
of the Company Secretaries of India. appreciation of the concerted efforts by all the employees
in extending full support in implementing various plans
35. OTHER DISCLOSURES for the growth of your Company.
During the year under review, there has been no Material

On behalf of the Board of Directors
change in the nature of business of the Company.
Sd/-
There are no significant or material changes and Dinesh Kumar Mehrotra
commitments affecting the financial position of the Place: Chennai Chairman
Company which occurred between the end of the Date: May 06, 2023 DIN: 00142711
80
ANNEXURE 1
PARTICULARS OF REMUNERATION
The information required under Section 197(12) of the Notes:

Companies Act, 2013 read with Rule 5(1) of the (Companies 1. Sitting fee for Independent Directors is paid based
Appointment and Remuneration of Managerial Personnel) on the number of Board and Committee meetings
Rules, 2014, for the financial year ended March 31, 2023 are attended. Chairman is entitled for a minimum
given below: payment of ` 21 lakhs and other Independent
Directors are entitled for a minimum payment of
` 18 lakhs.
A. The ratio of the remuneration of each director to
the median remuneration of the employees of the
2.
Mr. Narendra Ostawal and Mr. Sandeep Kagzi,
Company for the financial year: nominees of the Promoters have abstained from
Non-Executive Directors Ratio to median receiving commission / sitting fees from the
remuneration* Company.
Mr. Dinesh Kumar Mehrotra 10.29
3. Remuneration excluding Share based payments/
Mr. Natarajan Srinivasan 8.82
benefits accruing out of Employees Stock Option
Mrs. Vijayalakshmi Rajaram Iyer 8.82 Plan as approved by the shareholders for the
Mr. V S Rangan 3.92 employees.
Mr. Narendra Ostawal NA
Mr. Sandeep Ramesh Kagzi NA
C. The percentage increase in median remuneration of
employees in FY 2022-23
The overall Annual increase in the remuneration for the
Executive Directors Ratio to median employees was about 11% during FY 2022-23.
remuneration
Mr. Anuj Kumar 202.04 D. The number of permanent employees on the rolls of
the Company:
*Median remuneration computation is based on a total The Number of permanent employees as on March 31,
employee head count of 6,443. 2023, was 5174.
B. The percentage increase in remuneration of each E. Average percentiles increase already made in the
Director, Managing Director, Chief Financial Officer, salaries of employees other than the managerial
Company Secretary in the financial year: personnel in the last financial year and its comparison
with the percentile increase in the managerial
Directors/KMPs % increase in
remuneration and justification thereof and point
remuneration
in the financial out if there are any exceptional circumstances for
year increase in the managerial remuneration:
Directors (Note 1 & 2) The increase in the remuneration of the managerial
personnel is in accordance with the remuneration policy
Mr. Dinesh Kumar Mehrotra
of the company and is in the same range as the increase
Mr. Natarajan Srinivasan
in the salaries of employees other than the managerial
Not
Mrs. Vijayalakshmi Rajaram Iyer personnel.
applicable
Mr. V S Rangan
Mr. Narendra Ostawal F. Affirmation that the remuneration is as per the
remuneration policy of the Company:
Mr. Sandeep Kagzi (for part of the year)
The Company affirms that the remuneration paid are as
Managing Director, Chief Financial per the Remuneration Policy of the Company.
Officer and Company Secretary (Note 3)
Mr. Anuj Kumar 10.26%
Mr. Ramcharan S R 16.33%
Mr. G Manikandan 4.71%
81
G. Statement containing particulars of employees as required under Section 197(12) of the Act read with Rule 5(2)
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014:
This statement is provided in a separate annexure forming part of this report. This report and the accounts are being
sent to the members excluding the aforesaid annexure. In terms of Section 136 of the Act, the said annexure is open for
inspection at the Registered Office of the Company. Any shareholder interested in obtaining a copy of the same may write
to the Company Secretary.
Sd/-
Dinesh Kumar Mehrotra
Place: Chennai Chairman
Date: May 06, 2023 DIN: 00142711
82
ANNEXURE 2
FORM AOC-1
STATEMENT CONTAINING SALIENT FEATURES OF

THE FINANCIAL STATEMENT OF SUBSIDIARIES
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies
(Accounts) Rules, 2014)
PART A - SUMMARY OF FINANCIAL INFORMATION OF SUBSIDIARY COMPANIES

S. Name of the Relationship Share Reserves Total Total Investments Turnover Profit Provision Profit Total Other Total % of
No Entity Capital and Assets Liabilities before for after Comprehensive Comprehensive Shareholding
Surplus Taxation Taxation Taxation Income income for
(net of tax) the year
1 Computer Age Parent 4,899.36 67,906.13 101,029.80 28,224.31 47,894.99 92,861.69 36,554.73 9,100.70 27,454.03 (10.56) 27,443.47
Management
Services Limited
2 CAMS Investor Subsidiary 74.50 4,664.76 5,428.21 688.96 4,302.65 1,794.19 896.92 232.31 664.61 (3.56) 661.05 100%
Services Pvt Ltd
3 CAMS Financial Subsidiary 990.00 (613.73) 444.22 67.95 - 2.66 (465.67) (113.79) (351.88) 5.25 (346.63) 100%
Information
Services Pvt Ltd
4 Sterling Software Subsidiary 50.95 2,850.49 5,274.05 2,372.61 582.04 7,321.72 1,029.97 257.55 772.42 (14.26) 758.16 100%
Pvt Ltd
5 CAMS Insurance Subsidiary 454.17 4,231.66 5,394.34 708.51 4,455.39 1,779.02 183.64 42.84 140.80 2.14 142.94 100%
Repository
Services Ltd
6 CAMS Payment Subsidiary 2,500.00 193.84 2,694.81 0.97 - - 141.85 35.70 106.15 - 106.15 100%
Services Private
Limited
7 Sterling Software Step down 746.79 (746.79) - - - - (0.06) - (0.06) (0.04) (0.10) 100%
(Deutschland)** subsidiary
GmbH
8 Fintuple Subsidiary 82.88 79.57 237.85 75.40 - 207.78 (133.44) - (133.44) - (133.44) 54%
Technologies
Private Limited
Notes:
1. Name of subsidiaries yet to commence business operations: CAMS Payment Services Private Limited
2. Names
of subsidiaries which have been liquidated or sold during the year: **Sterling Software (Deutschland) GmbH
liquidated with effect from November 15, 2022.
3. Reporting period for all subsidiaries is April 01, 2022 to March 31, 2023.
PART B - ASSOCIATES AND JOINT VENTURES – NOT APPLICABLE
Sd/-
Date: May 06, 2023 DIN : 00142711
83
ANNEXURE 3
To
The Members,
New No.10, Old No.178, M.G.R.Salai,
Nungambakkam Chennai 600034
Dear Sir / Madam,
Our report of even date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the company. My responsibility is to express
an opinion on these secretarial records based on our audit.
2. I have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts
are reflected in secretarial records. I believe that the processes and practices, I followed provide a reasonable basis for
our opinion.
3. I have not verified the correctness and appropriateness of financial records and Books of Accounts of the company.
4. Where ever required, I have obtained the Management representation about the compliance of laws, rules and regulations
and happening of events etc.
5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility
of management. Our examination was limited to the verification of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or
effectiveness with which the management has conducted the affairs of the company.
7. Due to the inherent limitations of an audit including internal, financial and operating controls, there is an unavoidable risk
that some misstatements or material non-compliances may not be detected, even though the audit is properly planned
and performed in accordance with the Standards
Sd/-
Name of Company Secretary in Practice:
B Chandra
Place: Chennai ACS No.: 20879
Date: May 06, 2023 C P No.: 7859
84
FORM NO. MR-3

SECRETARIAL AUDIT REPORT
FOR THE FINANCIAL YEAR ENDED MARCH 31, 2023
[Pursuant to section 204(1) of the Companies Act, 2013 and rule No.9 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014]
To v.
Central Depository Services (India) Limited - Bye
The Members, Laws & Rules (Depository Participant and RTA) and
Computer Age Management Services Limited amendments thereof
New No.10, Old No.178, M.G.R.Salai
vi. The Prevention of Money Laundering Act 2002, PMLA
Nungambakkam
Rules & amendments thereof
Chennai 600034
vii.
SEBI (Intermediaries) Regulations 2008 &
Dear Sir / Madam, amendments thereof
viii. SEBI (KYC Registration Agency) Regulations 2011 and
I, B Chandra, Practising Company Secretary had conducted
amendments thereof
the secretarial audit of the compliance of applicable statutory
provisions and the adherence to good corporate practices ix. Foreign Exchange Management Act and the regulations,
by Computer Age Management Services Limited bearing to the extent applicable;
CIN L65910TN1988PLC015757 (hereinafter called the
x.
The Securities and Exchange Board of India
company). Secretarial Audit was conducted in a manner
(Substantial Acquisition of Shares and Takeovers)
that provided me a reasonable basis for evaluating the
Regulations, 2011;
corporate conducts/statutory compliances and expressing
our opinion thereon. xi. The Securities and Exchange Board of India
(Prohibition of Insider Trading) Regulations, 1992
Based on our verification of the Company’s books, papers, and The Securities and Exchange Board of India
minute books, forms and returns filed and other records (Prohibition of Insider Trading) Regulations 2015;
maintained by the Company and also the information
xii. The Securities and Exchange Board of India (Listing
provided by the Company, its officers, agents and authorised
obligations and Disclosure Requirements) Regulations
representatives during the conduct of secretarial audit, I
2015;
hereby report that in our opinion, the Company has, during the
audit period covering the financial year ended on March 31, xiii. Securities and Exchange Board of India (Share Based
2023, complied with the statutory provisions listed hereunder Employee Benefits) Regulations, 2014
and also that the Company has proper Board-processes and
compliance-mechanism in place to the extent, in the manner I am informed that the Company, during the year, was
and subject to the reporting made hereinafter: not required to comply with the following regulations and
consequently not required to maintain any books, papers,
I have examined the books, papers, minute books, forms and minute books or other records or file any forms/ returns under:
returns filed and other records maintained by the Company
a. The Securities and Exchange Board of India (Buy back
for the financial year ended on March 31, 2023, according to
of Securities) Regulations, 2018;
the provisions of:
b.
Securities and Exchange Board of India (Issue and
i. The Companies Act, 2013 (the Act) and the rules made
Listing of Non- Convertible and Redeemable Preference
there under;
Shares) Regulations, 2013
ii.
The Securities Contracts (Regulation) Act, 1956
c. The Securities and Exchange Board of India (Issue and
(‘SCRA’) and the rules made there under;
Listing of Debt securities) Regulations 2018
iii. SEBI Registrars to an Issue and Share Transfer Agent
d. The Securities and Exchange Board of India (Issue of
Regulations, 1993 and amendments thereof
Capital and Disclosure Requirements) Regulations, 2018
iv.
National Securities Depository Limited - Bye Laws
Based on the study of the systems and processes in place
& Rules (Depository Participant and RTA) and
and a review of the reports of the Compliance officers
amendments thereof
85
placed before the Board of Directors of the Company were no dissenting votes from any Board member that
and a confirmation given by the Management about the was required to be captured and recorded as part of the
Compliances of other applicable laws, I report that the minutes.
Company has complied with the provisions of all applicable
statutes including normally applicable labour laws. In I further report that there are adequate systems and
addition, the Company has complied with the following processes in the Company commensurate with the size and
specific statutes and the rules made there under to the extent operations of the Company to monitor, report deviations to
they are applicable to them: the Board, take corrective actions and ensure compliance
with applicable laws, rules, regulations and guidelines.
1. AMFI Guidelines and Norms for Intermediaries
I further report that during the year under review :
2. AMFI Registered Mutual Fund Advisors (ARMFA)
a)
The Board of Directors had approved acquisition of
3. Tamil Nadu Municipal Laws (Second Amendment) Act,
51% stake in Fintuple Technologies Private Limited
1998 The Aadhaar (Targeted Delivery of Financial and
(‘Fintuple’) by way of primary and secondary acquisition
Other Subsidies, Benefits and Services) Act, 2016 &
and the said company became a subsidiary from
5.4.2022
4.
The Information Technology Act 2000 and The
Information Technology (Reasonable Security Practices
b) The Company has allotted 27,971 Equity shares of ` 10/-
and Procedures and Sensitive Personal Data or
each dated 20.04.22 and 62,155 equity shares of ` 10/-
Information) Rules, 2011
each were allotted on 20.09.2022, to the employees of
the company pursuant to exercise of options under its
5.
PFRDA(Central Record Keeping Agency)
Employees Stock Option Scheme 2019.
Regulations 2015
c) The Company had entered into definitive agreements
I have also examined compliance with the applicable clauses
with the founders of and with Think Analytics India Private
of the following:
Limited (‘TAIPL’) to make a strategic investment by way
(i)
Secretarial Standards issued by The Institute of of a secondary acquisition amounting to 55.42% of the
Company Secretaries of India. total paid-up share capital of TAIPL and the transaction
was completed on 4.4.2023, resulting in Think Analytics
During the period under review the Company has complied Consultancy Services Private Limited and Think360 AI,
with the provisions of the Act, Rules, Regulations, Guidelines, Inc. two subsidiaries of TAIPL, becoming step down
Standards, etc. mentioned above subsidiaries of the Company
a.
The Board of Directors of the Company is duly
d) The Company has received the in-Principle authorization
constituted with proper balance of Executive Directors,
dated February 14, 2023 from Reserve Bank of India
Non-Executive Directors and Independent Directors.
to operate as a Payment Aggregator (‘Authorization’)
b. Adequate notice is given to all the directors to schedule under the Payment and Settlement Systems Act, 2007.
the Board Meetings, agenda and detailed notes on
Sd/-
agenda were sent at least seven days in advance,
Name of Company Secretary in Practice:
and a system exists for seeking and obtaining further
B Chandra
information and clarifications on the agenda items
ACS No.: 20879
before the meeting and for meaningful participation at
C P No.: 7859
the meeting.
Place: Chennai UDIN A020879E000236380
c. Based on the minutes made available to us, I report Date: May 06, 2023 PEER REVIEW NO 602/2019
that Majority decision is carried through and that there
86
ANNEXURE 4
THE ANNUAL REPORT ON CSR ACTIVITIES
OF THE COMPANY FOR THE FINANCIAL YEAR 2022-23
1. Brief outline on CSR Policy of the Company:

The key purpose of this policy is to:
(a) Define what Corporate Social Responsibility (CSR) would mean to CAMS and determine CSR spend as stipulated
in the Companies Act, 2013 and the rules thereunder
(b) Identify and formulate the broad areas the Company shall pursue towards fulfilling its CSR obligations
(c) Specify the modalities of execution of the projects and the implementation schedules
(d) Lay down the monitoring and reporting mechanism for the CSR projects of the Company
(e) Elucidate criteria for partners/implementation agencies
(f) Explain the manner in which the surpluses from CSR projects will be treated
The key focus area of the company covers- Education and Vocational Training, Healthcare, Care for Disabled and
Destitute, Social Welfare Projects, Investor protection, Awareness and Education on Best Practices, Sports and Disaster
Relief or Disaster Management.
2. Composition of the CSR and ESG Committee:

Sl. Name of Director Designation / Nature of Number of meetings of Number of meetings
No. Directorship CSR Committee held of CSR Committee
during the year attended during the year
1 Mr. Dinesh Kumar Mehrotra Chairman/Independent Director 2 2
2 Mr. Sandeep Kagzi Member/Nominee Director 2 2
3 Ms. Vijayalakshmi Rajaram Iyer Member/Independent Director 2 2
4 Mr. Anuj Kumar Member/Managing Director 2 2
3. Provide the web-link where Composition of CSR and ESG committee, CSR Policy and CSR projects approved by the
board are disclosed on the website of the Company - www.camsonline.com
4. Provide the details of Impact assessment of CSR projects carried out in pursuance of sub-rule (3) of rule 8 of the
Companies (Corporate Social responsibility Policy) Rules, 2014, if applicable (attach the report) – Not Applicable
5. Details of the amount available for set off in pursuance of sub-rule (3) of rule 7 of the Companies (Corporate Social
responsibility Policy) Rules, 2014 and amount required for set off for the financial year, if any-
S. No FY Amount Available for set off

1 2021-22 13,528/-
6. Average net profit of the company as per section 135(5) – ` 2,77,10,70,000/-
7. (a) Two percent of average net profit of the company as per Section 135(5) – ` 5,54,21,000/-
(b) Surplus arising out of the CSR projects or programmes or activities of the previous financial years – NIL
(c) Amount required to be set off for the financial year, if any – ` 13,528/-
(d) Total CSR obligation for the financial year (7a+7b+7c) – ` 5,54,07,472/-
87
8. (a) CSR amount unspent for the financial year – NIL

(b) Details of CSR amount spent against ongoing projects for the financial year – NIL
(c) Details of CSR amount spent against other than ongoing projects for the financial year – As per annexure
(d) Amount spent in Administrative Overheads – ` 96,913/-
(e) Amount spent on Impact Assessment, if applicable – NIL
(f) Total amount spent for the Financial Year (8b+8c+8d+8e) – ` 5,55,06,259/-
(g) Excess amount for set off, if any – ` 98,787/-
9. (a) Details of Unspent CSR amount for the preceding three financial years – NIL
(b) Details of CSR amount spent in the financial year for ongoing projects of the preceding financial year(s) – NIL
10. In case of creation or acquisition of capital asset, furnish the details relating to the asset so created or acquired through
CSR spent in the financial year – Not Applicable
11. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5) –
Not Applicable
Sd/- Sd/- Sd/-

Mr. Anuj Kumar Mr. D K Mehrotra Mr. Sandeep Kagzi
Member/Managing Director Chairman of CSR and ESG Committee Member
88
ENCLOSURE TO THE ANNUAL REPORT ON CSR ACTIVITIES
SL. Name of the Project Item from the list of Local area Location of Amount Mode of Mode of Implementation - Through
No. activities in Schedule (Yes/No) the project spent for implementation Implementing Agency
VII to the Act State District the project Direct Name CSR
(in `) (Yes/No) Registration
number
Providing healthcare Medical Research
1 Yes Tamil Nadu Chennai 43,76,098 No CSR00002623
facility for the rural people Foundation
providing medical Support
Rotary club of
for Heart surgery of
2 Yes Tamil Nadu Chennai 4,84,000 No Madras South CSR00004990
children with Congenital
Charitable Trust
heart disease
providing medical
treatment for those promoting health care
3 Yes Tamil Nadu Chennai 15,96,000 No Dean Foundation CSR00000401
suffering from life-limiting including preventive
illness health care
Providing healthcare to
4 Yes Tamil Nadu Chennai 11,25,000 No Direct CSR00001120
Diabetic patients
Providing Healthcare to
5 women though The Rotary Yes Tamil Nadu Chennai 5,00,000 Yes
Club of Chennai Spotlight
Providing healthcare
6 Yes Tamil Nadu Chennai 25,00,000 No Soulfree CSR00005305
facility
Providing Education for
Tamil Nadu,
7 the Economically weaker No 24,99,000 No eVidyaloka CSR00000867
Maharashtra
students
Providing FSH to the rural
8 children and support for Yes Tamil Nadu Chennai 15,48,000 No AIM for Seva CSR00003273
education
Eureka Education
9 the Economically weaker Yes Tamil Nadu Chennai 48,50,000 No CSR00000876
Foundation
students
Education and training for Petralthan Pillaiya
10 Yes Tamil Nadu Chennai 6,22,440 No CSR00004539
HIV positive children Trust
11 Women Education Yes Tamil Nadu Chennai 15,19,700 No Anew CSR00012356
Bright Kids
12 the Economically weaker No Maharashtra Mumbai 12,24,000 No CSR00003492.
foundation
students
promoting education,
including special
13 the Economically weaker Yes Tamil Nadu Chennai 11,22,000 No Aid India CSR00000027
education and
students
employment enhancing
Indian Institute of
14 Women Education vocation skills Yes Tamil Nadu Chennai 25,00,000 No CSR00004320
Technology
especially among
15 Promoting Education Yes Tamil Nadu Chennai 5,00,000 No Round Table India CSR00000895
children, women,
Promoting education,
elderly and the
including special education
differently abled and United way of
16 and employment No Delhi Delhi 15,03,900 No CSR00000216
livelihood enhancement Delhi
enhancing vocation skills
projects
especially among children.
17 the Physically/Mentally Yes Tamil Nadu Chennai 24,84,000 No Arvind Foundation CSR00003559
challenged students
18 the Physically/Mentally Yes Tamil Nadu Chennai 13,14,000 No Sri Arunodayam CSR00001030
challenged students
Providing Personal safety
19 No Maharashtra Mumbai 15,00,000 No Arpan CSR00000451.
Education
Rotary Club of
Promoting Education and
20 Yes Tamil Nadu Chennai 26,31,698 No Madras Charitable CSR00000997
Women Empowerment
Trust
Rotary club of
21 Promoting Education Yes Tamil Nadu Chennai 6,53,510 No Madras South CSR00004990
Charitable Trust
89
SL. Name of the Project Item from the list of Local area Location of Amount Mode of Mode of Implementation - Through
No. activities in Schedule (Yes/No) the project spent for implementation Implementing Agency
VII to the Act State District the project Direct Name CSR
(in `) (Yes/No) Registration
number
Contribution to public
Indian Institute of
22 funded universities; Indian Yes Tamil Nadu Chennai No CSR00004320
1,50,00,000 Technology
Institute of Technology
Environmentalist
23 Environmental project Yes Tamil Nadu Chennai 33,56,000 No CSR00002310
Foundation of India
24 Administrative Expenses 96,913 Yes
Total 5,55,06,259
90
ANNEXURE 5
SECRETARIAL COMPLIANCE REPORT OF
COMPUTER AGE MANAGEMENT SERVICES LIMITED FOR THE YEAR ENDED MARCH 31, 2023
I, B Chandra, Practising Company Secretary have examined: c) Securities and Exchange Board of India (Share Based
Employee Benefits) Regulations, 2014;
(a)
all the documents and records made available to
us and explanation provided by M/s. Computer Age d) Securities and Exchange Board of India (Prohibition of
Management Services Limited (“the listed entity”) Insider Trading) Regulations, 2015;
(b) the filings/ submissions made by the listed entity to the The company, during the year, was not required to comply
stock exchanges, with the following regulations and consequently not required
to maintain any books, papers, minute books or other records
(c) website of the listed entity, or file any forms/ returns under:
a) Securities and Exchange Board of India (Buyback of
(d) any other document/ filing, as may be relevant, which
Securities) Regulations, 2018;
has been relied upon to make this certification,
b)
for the year ended 31.03.2023 in respect of compliance with
Listing of Non-Convertible and Redeemable Preference
the provisions of :
Shares) Regulations, 2013;
(a) the Securities and Exchange Board of India Act, 1992
(“SEBI Act”) and the Regulations, circulars, guidelines c)
issued thereunder; and Listing of Debt Securities) Regulations, 2008
(b)
the Securities Contracts (Regulation) Act, 1956 d) Securities and Exchange Board of India (Issue of Capital
(“SCRA”), rules made thereunder and the Regulations, and Disclosure Requirements) Regulations, 2018
circulars, guidelines issued thereunder by the Securities
and Exchange Board of India (“SEBI”); and circulars/ guidelines issued thereunder;
The specific Regulations, whose provisions and the circulars/ and based on the above examination, I/We hereby report
guidelines issued thereunder, have been examined, include: that, during the Review Period:
(a)
Securities and Exchange Board of India (Listing (a) The listed entity has complied with the provisions of
Obligations and Disclosure Requirements) the above Regulations and circulars/ guidelines issued
Regulations, 2015; thereunder except in respect of matters specified
below:-
b) Securities and Exchange Board of India (Substantial
Acquisition of Shares and Takeovers) Regulations,
2011;
91
As per Annexure A
(b) The listed entity has taken the following actions to comply with the observations made in previous reports:
As per Annexure B
(c) Additional Affirmations
S Particulars Compliance status Observations /

No (Yes/No/NA) Remarks by PCS*
1 Secretarial Standard Yes

The compliances of listed entities are in accordance with the Auditing Standards issued
by ICSI, namely CSAS-1 to CSAS-3
2 Adoption and timely updation of the Policies: Yes

• All applicable policies under SEBI Regulations are adopted with the approval of board
of directors of the listed entities
All the policies are in conformity with SEBI Regulations and has been reviewed & timely
updated as per the regulations/circulars/guidelines issued by SEBI
3 Maintenance and disclosures on Website: Yes

• The Listed entity is maintaining a functional website
• Timely dissemination of the documents/ information under a separate section on
the website
• Web-links provided in annual corporate governance reports under Regulation 27(2)
are accurate and specific which redirects to the relevant document(s)/ section of
the website
4 Disqualification of Director: Yes

None of the Director of the Company are disqualified under Section 164 of Companies
Act, 2013
5 To examine details related to Subsidiaries of listed entities: Yes

(a) Identification of material subsidiary companies (b) Requirements with respect to
disclosure of material as well as other subsidiaries
6 Preservation of Documents: Yes

The listed entity is preserving and maintaining records as prescribed under SEBI
Regulations and disposal of records as per Policy of Preservation of Documents and
Archival policy prescribed under SEBI LODR Regulations
7 Performance Evaluation: Yes

The listed entity has conducted performance evaluation of the Board, Independent
Directors and the Committees at the start of every financial year as prescribed in
SEBI Regulations
8 Related Party Transactions: Yes

The listed entity has obtained prior approval of Audit Committee for all Related
party transactions
In case no prior approval obtained, the listed entity shall provide detailed reasons along
with confirmation whether the transactions were subsequently approved/ratified/rejected
by the Audit committee
9 Disclosure of events or information: Yes

The listed entity has provided all the required disclosure(s) under Regulation 30 along
with Schedule III of SEBI LODR Regulations within the time limits prescribed thereunder.
92
S Particulars Compliance status Observations /

No (Yes/No/NA) Remarks by PCS*
10 Prohibition of Insider Trading: Yes

The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider
Trading) Regulations, 2015
11 Actions taken by SEBI or Stock Exchange(s), if any: No Actions taken against the Annexure A Annexure A
listed entity/ its promoters/ directors/ subsidiaries either by SEBI or by Stock Exchanges
(including under the Standard Operating Procedures issued by SEBI through various
circulars) under SEBI Regulations and circulars/ guidelines issued thereunder
12 Additional Non-compliances, if any: NA

No any additional non-compliance observed for all SEBI regulation/circular/guidance note
etc.
Note 1 The Company was levied a fine of ` 2,54,880/- each for non- compliance with Regulation 19 of LODR by both the
exchanges. Further, even though intimation of the date of the Board meeting was given early, prior intimation of the proposed
dividend was not given resulting in levy of a fine of ` 11,800/- each by both the exchanges.
Sd/-
Practicing Company Secretary :
B Chandra
ACS/ FCS No.: 20879
C P No.: 7859
Place: Chennai PEER REVIEW NO 602/2019
Date: May 06, 2023 UDIN A020879E000236391
93
94
Annexure A for the year ended 31-03-2023
S Compliance Regulation/ Deviations Action taken Type of Details of Fine Observations/ Management Remarks
No Requirement Circular No. by Action violation Amount Remarks of Response
(Regulations/ the Practicing
circulars / Company
guidelines Secretary
including
specific clause)
LODR 19 Non BSE Limited Fine 2,54,880/- Inadvertent Since
compliance & NSE each regularised
with the
composition of
the Nomination
and
Remuneration
Committee
LODR 29 No Prior BSE Limited Fine Notice of 11,800/- BM meeting
intimation & NSE BM given each intimation was
of proposed but prior given well in
dividend intimation advance
of proposed
interim
dividend
not given.
LODR 30 Profile of NSE Clarification Profile not Replied Complied
the internal attached
auditor and
the secretarial
auditor not
attached
Annexure B for the year ended 31-03-2022 –NIL
S Compliance Regulation/ Deviations Action taken Type of Details of Fine Observations/ Management Remarks
No Requirement Circular No. by Action violation Amount Remarks of Response
(Regulations/ the Practicing
circulars / Company
guidelines Secretary
including
specific clause)
Advisory/
Clarification/
Fine/Show
Corporate Overview
Cause Notice/
Warning, etc.
Sd/-
Practicing Company Secretary :
B Chandra
ACS/ FCS No.: 20879
C P No.: 7859
Statutory Reports
Place: Chennai PEER REVIEW NO 602/2019

Date: May 06, 2023 UDIN A020879E000236391
Financial Statements
95
Corporate Governance Report

COMPANY’S CORPORATE GOVERNANCE CODE FOR PRACTICES AND PROCEDURES
PHILOSOPHY FOR FAIR DISCLOSURE OF UNPUBLISHED
The Company is committed to adopt the best Corporate PRICE SENSITIVE INFORMATION AND INSIDER
Governance practices to manage the affairs of the Company TRADING POLICY
in an ethical, accountable, transparent and fair way, with the In accordance with the Securities and Exchange Board of
blend of both legal and management practices, to imbed the India (Prohibition of Insider Trading) Regulations, 2015, as
same in the decision-making process of the Company, and to amended from time to time, the Board of Directors (‘the
communicate the same accurately and timely, in such a way Board’) of the Company has adopted the Code for Practices
that both stakeholders’ expectations and legal standards are and Procedures for Fair Disclosure of Unpublished Price
not only met, but the Company surpasses them. Sensitive Information and Policy on Insider Trading. All
our Promoters, Directors, Employees of the Company who
The Company strives to ensure compliance with the various are identified as Designated Persons, and their Immediate
Corporate Governance requirements under the Securities Relatives and other Connected Persons such as auditors,
and Exchange Board of India (Listing Obligations and consultants, bankers amongst others, who could have
access to the unpublished price sensitive information of the
Disclosure Requirements) Regulations, 2015, as amended
Company are governed under this Insider Trading Policy.
from time to time (‘SEBI LODR Regulations’) and considers
it as its inherent responsibility to protect the rights of our
Mr. G Manikandan, Company Secretary & Compliance
stakeholders and disclose timely, adequate and accurate
Officer of the Company is the ‘Compliance Officer’ in terms
information regarding our financials and performance, as
of this Insider Trading Policy.
well as the leadership and governance of the Company.
BOARD OF DIRECTORS
The Company has complied with the requirements stipulated
The Board is at the core of our Corporate Governance
under Regulations 17 to 27 read with Schedule V and clauses
practices and oversees and ensures that the Management
(b) to (i) of Regulation 46(2) of the SEBI LODR Regulations,
serves and protects the long-term interest of all our
as applicable, with regard to corporate governance.
stakeholders. We believe that an active, well-informed and
independent Board is necessary to ensure the highest
Adherence to the various policies and codes adopted by
standards of Corporate Governance.
the Company from time to time in conformity with regulatory
requirements helps your Company fulfil this responsibility. SIZE AND COMPOSITION OF THE BOARD
These policies are available on the Company’s website:
Our policy is to have an appropriate composition of Executive
www.camsonline.com - Shareholder Relations - Policies
and Non-Executive Directors with at least one woman director
and the composition of the Board shall be in accordance with
This report highlights the Company’s practices for the
requirements of the Articles of Association of the Company,
FY 2022-23.
the Companies Act, 2013, SEBI LODR Regulations and
the statutory, regulatory and contractual obligations of the
CODE OF CONDUCT
company to maintain the Board’s independence and separate
The Company has adopted the CAMS Code of Conduct its functions of governance and management.
which is available on its website: www.camsonline.com -
Shareholder Relations - Policies - CAMS Code of Conduct As on March 31, 2023, the Board comprised seven (7)
directors wherein one (1) is a an Executive Director
The Code of Conduct articulates the Company’s’ values, (Managing Director) (‘ED’), one (1) is a Non-Executive Non-
ethics and business principles and provides the guidelines Independent Director (‘NED’), two (2) are Nominee Directors
by which the company conducts its business. (‘NDs’) and three (3) are Independent Directors (‘IDs’)
including a Woman Independent Director. The composition
A declaration signed by the Managing Director of the of the Board of Directors of the Company is in conformity
Company confirming the compliance by Board Members and with Regulation 17 of the SEBI LODR Regulations read with
Senior Management personnel with the Code of Conduct is Section 149 of the Companies Act, 2013 (‘Act’). The Board
also annexed with this Report. periodically evaluates the need for change in its composition
96
and size. A detailed profile of our directors is available on LODR Regulations, the IDs have confirmed that they are
our website: https://www.camsonline.com/about-cams/ not aware of any circumstance or situation which exists
shareholder-relations/composition-board-committees or may be reasonably anticipated that could impair or
impact their ability to discharge their duties. Based on the
The role of Chairperson and Managing Director are distinct declarations received from the IDs, the Board of Directors
and separate. has confirmed that they meet the criteria of independence
as mentioned under Section 149 of the Act and Regulation
None of our Directors serve as Director or IDs in more than 16(1)(b) of the SEBI LODR Regulations and that they are
7 listed companies. MD do not serve as IDs on any listed independent of the management. Further, the IDs have
company as on date. Further, none of our IDs serve as Non- in terms of Section 150 of the Act read with Rule 6 of the
Independent Director(s) of any Company on the Board of Companies (Appointment & Qualification of Directors)
which any of our Non-Independent Director is an ID. Pursuant Rules, 2014, confirmed that they have enrolled themselves
to Regulation 26 of the SEBI LODR Regulations, none of our in the Independent Directors’ Databank maintained with the
Directors are members in more than 10 committees or act Indian Institute of Corporate Affairs.
as Chairperson of more than 5 committees (the committees
being, Audit Committee and Stakeholders’ Relationship The Company has issued formal letters of appointment to the
Committee) across all public limited companies in which IDs and their appointments are in compliance with Regulation
they are a Director. One Third of the Non-Independent, Non- 25(1) and (2) of the SEBI LODR Regulations. As required
Executive Directors are liable to retire by rotation. There are under Regulation 46 of the SEBI LODR Regulations, as
no inter-se relationships between our Board Members. amended, the terms and conditions of appointment of IDs
including their role, responsibility and duties are available on
Independent Directors are NED(s) as defined under our website: www.camsonline.com
Regulation 16(1)(b) of the SEBI LODR Regulations read
with Section 149(6) of the Act along with rules framed
thereunder. In terms of Regulation 25(8) of the SEBI
Table A
Name of the Director No. of No. of Board Directorship(s) in other listed entity
directorship(s) Committee (Category of Directorship)
held in positions held
Indian Listed in Indian Listed
Companies1 Companies2
Member Chairperson
Mr. Dinesh Kumar Mehrotra 4 4 0 • VLS Finance Limited
Designation: Chairman and • Computer Age Management Services Limited
Independent Director
• UTI Asset Management Company Limited
DIN: 00142711
Nationality: Indian • SBI Cards and Payment Services Limited
Mr. Natarajan Srinivasan 3 5 3 • Godrej Agrovet Limited
Designation: Independent • Computer Age Management Services Limited
Director
• CG Power And Industrial Solutions Limited
DIN: 00123338
Nationality: Indian
Mrs. Vijayalakshmi Rajaram 6 9 3 • Glenmark Pharmaceuticals Limited
Iyer •
Poonawala Fincorp Limited
Designation: Independent (Formerly Magma Fincorp Limited)
Director and Women Director
• Aditya Birla Capital Limited
DIN: 05242960
Nationality: Indian • ICICI Securities Limited
• Computer Age Management Services Limited
• CG Power And Industrial Solutions Limited
Mr. Narendra Ostawal 3 5 0 • Fusion Micro Finance Limited
Designation: Nominee • Home First Finance Company India Limited
Director
DIN: 06530414
Nationality: Indian
97
Name of the Director No. of No. of Board Directorship(s) in other listed entity
directorship(s) Committee (Category of Directorship)
held in positions held
Indian Listed in Indian Listed
Companies1 Companies2
Member Chairperson
Mr. Vedanthachari Srinivasa 3 6 0 •

Housing Development Finance Corporation
Rangan Limited
Designation: Non-executive • Atul Limited
Director Non-Independent
Director
DIN: 00030248
Nationality: Indian
Mr. Anuj Kumar 1 1 0 • Computer Age Management Services Limited

Designation: Managing
Director
DIN: 08268864
Nationality: Indian
Mr. Sandeep Kagzi 1 2 0 • Computer Age Management Services Limited

Designation:
Nominee Director
DIN: 08264768
Nationality: Indian
Notes:
1. Directorships in other Indian Public Companies (listed) excludes Section 8 Companies.
2. As required under Regulation 26(1)(b) of the SEBI LODR Regulations, the disclosure includes chairmanship/membership of the Audit
Committee and Stakeholders’ Relationship Committee in Indian Public companies (listed and unlisted).
SELECTION OF NEW DIRECTORS AND BOARD of the Company’s business and that the said skills are
MEMBERSHIP CRITERIA available with all the Board Members:
The Nomination and Remuneration Committee (‘NRC’) works
i. Knowledge on Company’s businesses policies and
with the Board to determine the appropriate qualifications,
culture (including the Mission, Vision and Values) major
positive attributes, characteristics, skills and experience
risks / threats and potential opportunities and knowledge
required for the Board as a whole and its individual members
of the industry in which the Company operates.
with the objective of having a Board with diverse backgrounds
and experience in business, government, education and ii. Behavioural skills - attributes and competencies to use
public service. their knowledge and skills to contribute effectively to the
growth of the Company.
D I R E C TO R S Q U A L I F I C AT I O N S, S K I L L S,
EXPERTISE, COMPETENCIES AND ATTRIBUTES iii.
Business Strategy, Sales & Marketing, Corporate
The Board comprises qualified members with an appropriate Governance, Forex Management, Administration,
blend of skills, competence, functional and industry expertise Decision Making.
and diversity of perspectives appropriate to the size and iv. Management and Financial skills.
nature of the Company to enable them to effectively
contribute at the Board and Committee meetings. v. Technical / Professional skills and specialized
knowledge in relation to Company’s business.
The below matrix summarizes the key skills, expertise,
competencies and attributes as identified by the NRC for FA M I L I A R I S AT I O N PROGRAMME FOR
recommending appointment of Directors on the Board. INDEPENDENT DIRECTORS
Independent Directors inducted to the Board are given a
The following is the list of core skills / expertise / competencies formal orientation on the Company’s business operations,
identified by the Board of Directors as required in the context products, organization structure, as well as the Board
98
constitution and its procedures through various programmes/ The template provides the criteria for assessing the
presentations at the time of their induction. The IDs are performance of Directors and comprises of various key areas
also provided with an opportunity to visit the offices of the such as attendance at Board and Committee Meetings,
Company and interact with members of Senior Management. quality of contribution to Board discussions and decisions,
During FY 2022-23, there have been no induction of any strategic insights, or inputs regarding future growth of the
Independent Directors. Company and its performance, ability to challenge views in
a constructive manner, knowledge acquired regarding the
At various Board Meetings held during the year, presentations Company’s business/ activities, understanding of industry
were made to the Board on safety, health and environment, and global trends, etc.
Company policies, changes in the regulatory environment
applicable to the Company, the industry, market and The evaluation involves self-evaluation by the Board Member
customers, operations and other relevant matters. and subsequent assessment by the Board of Directors. A
member of the Board will not participate in the discussion of
During FY 2022-23, the matters to be covered as part of his/her evaluation.
the Familiarisation programme were included at the Board
presentations. The formal Board evaluation as mandated under the
Companies Act and Listing Regulations has been carried out
BOARD EVALUATION during the year.
The Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 stipulate REMUNERATION POLICY FOR BOARD AND
the evaluation of the performance of the Board, its SENIOR MANAGEMENT
Committees, Individual Directors, and the Chairperson. The Board has approved the Remuneration Policy for
Directors, Key Managerial Personnel (‘KMP’) and all other
The Company has formulated a Board Evaluation template employees of the Company. The same is available on our
for performance evaluation of the Independent Directors, the website at www.camsonline.com - Shareholder Relations -
Board, its committees, and other individual Directors which Policies - Nomination and Remuneration Policy
includes criteria for performance evaluation of the Non-
Executive Directors and Executive Directors.
Details of remuneration for Directors for FY 2022-23 is provided in Table B below.
Table B: Cash compensation paid to Directors for the year ended March 31, 2023
Name Fixed Salary Commission / Sitting Fees Total
Bonus Compensation
Basic Perquisite / Total
Allowance Fixed Salary
Non-Executive and
Independent Directors
Mr. Dinesh Kumar Mehrotra - - - 7,50,000 13,50,000 21,00,000
Mr. Natarajan Srinivasan - - - 3,50,000 14,50,000 18,00,000
Mrs. Vijayalakshmi Rajaram Iyer - - - 5,00,000 13,00,000 18,00,000
Non-Executive Directors
Mr. Narendra Ostawal - - - - - -
Mr. Sandeep Ramesh Kagzi - - - - - -
Mr. Vedanthachari Srinivasa Rangan - - - - 8,00,000 8,00,000
Executive Director
Mr. Anuj Kumar - - 4,12,17,000 - - 4,12,17,000
99
BOARD MEETINGS BOARD COMMITTEES

Scheduling and selection of agenda items for There are Six (6) Committees of the Board as on
Board Meetings March 31, 2023. The details of the Committees of the Board are
given below.
All agenda papers for the Board and Committee meetings
are disseminated electronically, by uploading them on a Audit Committee
secured online application. The Board meets at least once
The primary objective of the Audit Committee (‘Committee’)
a quarter to review the quarterly financial results and other
is to monitor and provide an effective supervision of the
items on the agenda. Additional meetings are held, as and
Management’s financial reporting process, to ensure
when necessary.
accurate and timely disclosures, with the highest levels of
The Audit committee apart from the meetings for review of transparency, integrity and quality of financial reporting.
the financial results meets separately for considering the
The Committee oversees the work carried out in the financial
non-financial matters every quarter. Other Committees of
reporting process by the Management and the Company’s
the Board meets as per a pre-determined meeting schedule
Internal and Statutory Auditors.
and meets additionally based on the need for transacting any
business. The information as required under Regulation 17(7) The Committee also assesses the adequacy and reliability of
read with Schedule II Part A of the SEBI LODR Regulations the internal control systems. The Committee further reviews
is made available to the Board. The recommendations of processes and controls including compliance with laws, Code
the Committees are placed before the Board for necessary of Conduct and Insider Trading Policy, Whistle Blower Policies,
approval and/or noting. and related cases thereto, functioning of the CAMS policy on
Prevention, Prohibition & Redressal of Sexual Harassment at
During FY 2022-23, Seven (7) Board Meetings were held
workplace and guidelines and internal controls.
on May 05, 2022, August 05, 2022, October 17, 2022,
November 04, 2022, February 07, 2023, March 04, 2023 and The Company Secretary acts as the Secretary to the
March 24, 2023. The gap between any two consecutive Board Committee. The Internal Auditor reports functionally to the
Meetings did not exceed one hundred and twenty days. The Committee. The Executive Director and Senior Management
necessary quorum was present at all the meetings. of the Company also attend the meetings as invitees
whenever required, to address concerns raised by the
Table C: Attendance details of Directors for the year
Committee Members.
ended March 31, 2023, are given below:
Name of the Director Category No. of Board No. of
The Audit Committee has been constituted by the Board was
Meetings Board last reconstituted on June 21, 2021. The scope and function
held during Meetings of the Audit Committee is in accordance with Section 177 of
the tenure Attended the Companies Act and the Listing Regulations.
Mr. Dinesh Kumar Mehrotra ID 7 6
Mr. Natarajan Srinivasan ID 7 7 During FY 2022-23, the Committee met Eight (8) times on
Mrs. Vijayalakshmi ID 7 6 April 29, 2022, May 05, 2022, August 05, 2022, October 17,
Rajaram Iyer 2022, October 28, 2022, November 04, 2022, January 30,
Mr. Narendra Ostawal ND 7 6
2023 and February 07, 2023. The requisite quorum was
Mr. Sandeep Kagzi ND 7 7
present at all the meetings. All decisions at the Audit
Mr. Vedanthachari NED 7 7
Srinivasa Rangan Committee meetings were taken unanimously.
Mr. Anuj Kumar ED 7 7
Table D: The composition of the Committee and the
Video conferencing facilities are also provided to facilitate attendance details of the Members for the year ended
Directors travelling abroad or at other locations to participate March 31, 2023, are given below:
in the meetings. All the Directors were present at the
Name of the Director Category No. of No. of
Annual General Meeting (‘AGM’) of the Company held on
meetings Meetings
June 30, 2022. held during Attended
the tenure
MEETING OF THE INDEPENDENT DIRECTORS Mr. Natarajan Srinivasan ID 8 8
Pursuant to the provisions of Section 149(8) read with (Chairperson)
Schedule IV of the Act and Regulations 25(3) & 25(4) of Mr. Dinesh Kumar ID 8 8
the SEBI LODR Regulations, a meeting of the Independent Mehrotra
Directors was held on March 24, 2023 without the Mrs. Vijayalakshmi ID 8 7
Rajaram Iyer
presence of Non-Independent Directors and Members of
the Management.
100
Mr. Natarajan Srinivasan, Chairperson of the Audit The purpose of the Corporate Social Responsibility and
Committee was present at the last AGM of the Company held Environment Social Governance Committee (“CSR and
on June 30, 2022. ESG Committee” / “Committee”) is to assist the Board in
formulating, monitoring, and reviewing the CSR strategy and
Nomination and Remuneration Committee policy of the Company and the amount of expenditure to be
The purpose of the Nomination and Remuneration incurred on CSR activities. The Committee also assists the
Committee (‘Committee’) includes formulating criteria for Management to Committee formulate, implement, and review
determining qualifications, positive attributes, independence policies, principles and practices to foster the sustainable
of Directors, succession planning and recommending to the growth of the Company that creates value consistent with
Board of Directors, a policy relating to the remuneration of the long-term preservation and enhancement of financial,
the Directors, Key Managerial Personnel and Employees manufactured, natural, social, human and intellectual capital.
(‘Remuneration Policy’) overseeing the company’s
process for appointment of Senior Management and their The CSR Policy is available on our website:
remuneration, devising criteria for performance evaluation of www.camsonline.com - Shareholder Relations - Policies -
the Board of Directors (including Independent Directors). The Corporate Social Responsibility Policy
Remuneration Policy and the criteria for making payments
to Non-Executive Directors is available on our website: The ESG Policy is available on our website:
www.camsonline.com - Shareholder Relations - Policies - www.camsonline.com - Shareholder Relations - Policies -
Nomination and Remuneration Policy Environmental, Social and Governance Policy
The Nomination and Remuneration Committee has been During FY 2022-23, two (2) Meetings of the Committee were
constituted by the Board and was last reconstituted on held on June 17, 2022 and March 15, 2023. The necessary
April 19, 2022. The scope and function of the Nomination quorum was present at the meetings.
and Remuneration Committee is in accordance with Section
178 of the Companies Act and the Listing Regulations. Table F: The composition of the Committee and the
attendance details of the Members for the year ended
During FY 2022-23, the Committee met once on March 17, March 31, 2023, are given below:
2023. The requisite quorum was present at the meeting. Name of the Director Category No. of No. of
meetings Meetings
Table E: The composition of the Committee and the held during Attended
attendance details of the Members for the year ended the tenure
March 31, 2023, are given below: Mr. Dinesh Kumar ID 2 2
Mehrotra (Chairperson)
Name of the Director Category No. of No. of Mrs. Vijayalakshmi ID 2 2
meetings Meetings Rajaram Iyer
held during Attended
the tenure
Mrs. Vijayalakshmi ID 1 1 Mr. Anuj Kumar ED 2 2
Rajaram Iyer (Chairperson)
Mr. Dinesh Kumar ID 1 1
Mr. Dinesh Kumar Mehrotra, Chairperson of the Committee
Mehrotra was present at the last AGM of the Company held on
Mr. Narendra Ostawal ND 1 1 June 30, 2022.
Mrs. Vijayalakshmi Rajaram Iyer, Chairperson of the Stakeholders’ Relationship Committee

Committee was given leave of absence from the last AGM of The Stakeholders’ Relationship Committee (‘Committee’)
the Company held on June 30, 2022. considers and resolves the grievances of our shareholders
and other security holders, including complaints relating to
Corporate Social Responsibility and Environment non-receipt of annual report, transfer and transmission of
Social Governance Committee (CSR and ESG securities, non-receipt of dividends/interests, issue of new/
Committee) duplicate certificates, general meetings and such other
The scope of the Corporate Social Responsibility of the grievances as may be raised by the security holders from
committee was enhanced by our Board on June 21, 2021, time to time.
by including the scope relating to the ESG compliances
and was renamed as Corporate Social Responsibility and The Stakeholders’ Relationship Committee was reconstituted
Environment Social Governance Committee (CSR and ESG by our Board at their meeting on June 21, 2021. The scope
Committee) during the year. and function of the Stakeholders’ Relationship Committee is
101
in accordance with Section 178 of the Companies Act and Risk Management Committee
the Listing Regulations. The Risk Management Committee was constituted pursuant
to Regulation 21 of the Listing Obligations and Disclosure
During FY 2022-23, Three (3) Meetings of the Committee were Requirements, 2015. The role of the Risk Management
held on April 20, 2022, September 20, 2022 and January 30, Committee, in brief, is to review the Risk Management
2023. The necessary quorum was present at the meeting. Policy developed by the Management, risk framework and
its implementation thereby ensuring that an effective risk
Table G: The composition of the Committee and the management system is in place.
March 31, 2023, are given below: During FY 2022-23, Two (2) Meetings of the Committee
were held on June 30, 2022 and November 30, 2022. The
Name of the Director Category No. of No. of
meetings Meetings necessary quorum was present at the meetings.
the tenure Table H: The composition of the Committee and the
Mr. Natarajan Srinivasan ID 3 3
(Chairperson) March 31, 2023, are given below:
Mr. Sandeep Kagzi ND 3 3 Name of the Director Category No. of No. of
meetings Meetings
Mr. Anuj Kumar ED 3 3
the tenure
Mr. Natarajan Srinivasan, Chairperson of the Stakeholder Mrs. Vijayalakshmi ID 2 2
Relationship Committee was present at the last AGM of the Rajaram Iyer (Chairperson)
Company held on June 30, 2022. Mr. Natarajan Srinivasan ID 2 2
Mr. Dinesh Kumar ID 2 2
Compliance Officer for LODR requirements Mehrotra
In terms of Regulation 6 and Schedule V of the SEBI LODR IT Strategy Committee

Regulations, the Board has appointed Mr. G Manikandan,
The IT Strategy Committee has been constituted in
Company Secretary & Compliance Officer as the Compliance
accordance with the regulatory requirements of SEBI
Officer of the Company, the details of whom are given below:
and RBI.
Name of the During FY 2022-23, Two (2) Meetings of the Committee were
: Mr. G Manikandan
Compliance Officer held on June 07, 2022, December 09, 2022. The requisite
Designation : Company Secretary & quorum was present at the meeting.
Compliance Officer
Table I: The composition of the Committee and the
Shareholder complaints: attendance details of the Members for the year ended
During FY 2022-23, the Company received 8 shareholder March 31, 2023, are given below:
complaints and all were resolved to the satisfaction of Name of the Member Category No. of No. of
the shareholder. As on March 31, 2023, the Company meetings Meetings
did not have any complaint pending for resolution on the held during Attended
the tenure
online redressal portal of SEBI i.e., SCORES. The details
Mr. Narendra Ostawal ND 2 2
of shareholder complaints received and redressed during (Chairperson)
FY 2022-23 were as below: Mr. Vedanthachari NED 2 2
Srinivasa Rangan
Shareholder complaints: Mr. Ramcharan, KMP 2 2
Chief Financial Officer
Opening Received Resolved Closing
Mr. Ravi Kethana, Senior 2 2
Balance as on during during the year Balance as on
Chief Platform Officer Management
April 01, 2022 the year March 31, 2023
Mr. Anuj Kumar, ED 2 2
0 8 8 0 Managing Director
The complaints majorly pertained to Non receipt of GENERAL INFORMATION FOR SHAREHOLDERS
dividends which have been addressed to by the company Corporate Identity Number (CIN) of the Company is
from time to time. L65910TN1988PLC015757.
102
Disclosures regarding the re-appointment of same are also available on the Company’s website:
Directors www.camsonline.com - Shareholder Relations - Stock
In terms of the relevant provisions of the Act, Mr. Sandeep Exchange Intimation
Kagzi (DIN: 08264768) is liable to retire by rotation at the
ensuing AGM and being eligible, seeks re-appointment. • Website
The Company’s website provides details on its
The Board recommends the above re-appointment for the leadership, management, policies, corporate
approval of the Members at the ensuing AGM. governance, corporate social responsibility, shareholder
relations, products and processes and updates and
Means of Communication news. The section on ‘Shareholder Relations’ serves to
Timely sharing and disclosure of consistent, comparable, inform the Shareholders, by giving complete financial
relevant and reliable information on the Company’s details, stock exchange compliances and disclosures
performance is at the core of its Corporate Governance including shareholding patterns and, information
Policy. Steps taken by the Company in this regard are on unclaimed dividend of Shareholders, details of
given below: Registrars & Transfer Agent.
• Financial Results Share Transfer System

The Company publishes the quarterly, half-yearly and Link Intime India Private Limited, is the Depository Interface
annual financial results of the Company in English and of the Company for both National Securities Depository
Tamil edition of Newspapers. The results are promptly Limited (‘NSDL’) and Central Depository Services (India)
disseminated to BSE Limited (‘BSE’) & National Stock Limited (‘CDSL’), and is also the Registrar and Transfer
Exchange of India Limited (‘NSE’) for display on their Agents (‘RTA’) for all the work related to share registry in
website as well as uploaded on the website of the terms of both physical and electronic holdings.
Company at www.camsonline.com - Shareholder
Relations - Quarterly Reports immediately after the The Securities and Exchange Board of India (‘SEBI’) and
Board Meetings. A communication is also sent to the Ministry of Corporate Affairs (‘MCA’) has mandated that existing
shareholders to their registered email address providing members of the Company who hold securities in physical form
the links for these financial results immediately after the and intend to transfer their securities after April 01, 2019, can
same is published. The Company also issues press do so only in dematerialised form. Presently all the shares
releases every quarter containing key details of the except one share are held in demat form.
financial results.
Details of Show Cause Notices received
• Annual Report
During the year, the Company has not received any Show
The Annual Report containing, inter-alia, Audited Annual Cause Notices from SEBI with respect to compliance of SEBI
Accounts, Consolidated Financial Statements, Board’s LODR Regulations.
Report, Management Discussion and Analysis and
other regulatory reports is circulated to the Members Details of Non-Compliance
and others entitled thereto. The Annual Report for Both BSE and NSE levied a penalty of ` 2,54,880/- each
previous years are also available on the website of in respect of delay in reconstitution of NRC committee in
the Company: www.camsonline.com - Shareholder compliance with the LODR requirements. The exchanges
Relations - Annual Report levied a penalty of ` 11,800/- each in respect of the non-
In addition to the downloadable pdf version, user inclusion of the dividend consideration in the intimation
friendly digital version of the Annual report is also made provided for the Board Meeting. These penalties have
available in the website. been paid.
• Disclosures to Stock Exchanges The equity shares of the company listed in the exchanges
have not been suspended from trading.
All price sensitive information and matters that are
material to shareholders are disclosed to the BSE Certificates from Practicing Company Secretaries
Limited and National Stock Exchange of India Limited,
As required by Regulation 34(3) and Schedule V Part E
where the equity shares of the Company are listed. All
of the SEBI LODR Regulations, the certificate given by
submissions to the Stock Exchange are made through
the respective electronic online filing systems. The
103
Ms. B. Chandra, Practicing Company Secretary, is annexed to time basis amendments in the regulatory provisions. The
this report. Policy is available on the Company’s website:
www.camsonline.com - Shareholder Relations - Policies -
As required under Clause 10(i) of Part C under Schedule V Related Party Transaction Policy
of the SEBI LODR Regulations, the Company has received
a certificate from Ms. B. Chandra, Practicing Company During the FY 2022-23, the Company did not have any
Secretary, certifying that none of our directors have been material pecuniary relationship or transactions with
debarred or disqualified from being appointed or continuing Non-Executive Directors apart from paying Director’s
as Directors of the Company by SEBI or MCA or such other remuneration. Further, the Directors have not entered any
statutory authority. contracts with the Company or its subsidiaries, which will be
in material conflict with the interests of the Company.
CEO and CFO certification
As required under Regulation 17(8) read with Schedule The Board has received disclosures from KMPs relating to
II Part B of the SEBI LODR Regulations, the Whole Time material, financial and commercial transactions where they
Director and Chief Financial Officer have given appropriate and/or their relatives have personal interest.
certifications to the Board of Directors.
Material Subsidiary Companies
Reconciliation of Share Capital Audit Report There is no material unlisted subsidiary company requiring
Pursuant to the provisions of Regulation 40(9) and 61(4) appointment of an Independent Director of the Company on
of the SEBI LODR Regulations, a Company Secretary in the Board of Directors of such unlisted subsidiary company.
Practice has issued half-yearly certificates with respect to
due compliance of share and security transfer formalities by Policy for Determining Material Subsidiaries
the Company.
The Company has formulated a Policy for Determining
Material Subsidiaries and the same is available on the
Pursuant to Regulation 76 of the Securities and Exchange
Company’s website:
Board of India (Depositories and Participants) Regulations,
www.camsonline.com - Shareholder Relations - Policies -
2018, a Company Secretary in Practice carries out a
Policy on Material Subsidiaries
Reconciliation of Share Capital Audit to reconcile the
total admitted capital with NSDL and CDSL (collectively
Vigil Mechanism
‘Depositories’) and the total issued and listed capital of the
Company. The audit confirms that the total listed and paid-up The Company has in place a Vigil Mechanism that provides a
capital is in agreement with the aggregate of the total number formal mechanism for the Directors, employees and vendors
of shares in dematerialised form (held with Depositories) and to approach the Chairperson of the Audit Committee and
total number of shares in physical form. make protective disclosures about the unethical behaviour,
actual or suspected fraud or violation of the Code of Conduct,
This audit is carried out every quarter and the report thereon thereby ensuring that the activities of the Company are
is submitted to the Stock Exchanges where the Company’s conducted in a fair and transparent manner.
shares are listed. The quarterly Audit Reports as submitted to
For FY 2022-23, the Company has in place, a Whistle
the Stock Exchange are available on the Company’s website:
Blower Policy (‘Policy’) establishing a Vigil Mechanism,
www.camsonline.com - Shareholder Relations - Stock
which provides a formal mechanism to the Directors and
Exchange Intimation
employees to report to the Management, concerns about
unethical behaviour, actual or suspected fraud or violation of
Related Party Transactions
the codes of conduct or policy of the Company.
All transactions entered with related parties as defined under
the Act and Regulation 23 of the SEBI LODR Regulations, The details of the Vigil Mechanism are given in the Board’s
each as amended, during the year under review were Report. The Whistle Blower Policy for Directors and
on an arm’s length price basis and in the ordinary course Employees as adopted by the Board of Directors of the
of business. These have been approved by the Audit Company is available on the Company’s website:
Committee. The Company has not entered any materially www.camsonline.com - Shareholder Relations - Policies -
significant related party transaction that may have potential Whistle Blower Policy
conflict with the interests of the Company at large. The Board
of Directors have approved and adopted a Policy on Related During the year under review, no person has been denied
Party Transactions and the same is updated from time-to- access to the Chairperson of the Audit Committee.
104
Disclosures in relation to Sexual Harassment at Particulars FY2021-22 FY2020-21 FY2019-20

Workplace
Special Nil 1. Approval of Nil
The disclosures in relation to the Sexual Harassment of Resolutions the ESOP
Women at Workplace (Prevention, Prohibition and Redressal) passed Scheme
Act, 2013 are given as under: 2019
along with
a. Number of complaints filed during the financial year variation in
– Nil the Terms of
b. Number of complaints disposed of during the financial the Scheme
year – Nil 2. Approval
of ESOP
c. Number of complaints pending as on end of the financial given to the
year – Nil Employees
of the
Consolidated Fees paid to Statutory Auditors Subsidiary
Companies.
During FY 2022-23, the total fees for all services paid by
the Company to M/s. Brahmayya & Co., (Firm Registration 3. Amendment
of the
Number: 000511S), Statutory Auditors of the Company is
Articles of
as under:
Association
4. Ratification
Table J: Consolidated fees paid to statutory auditors:
and
(` In Lakhs) Approval
Particulars Amount of Article
103A of the
Statutory Audit Fee 29.40 Articles of
Limited Review Audit Fee 11.25 Association
Tax Audit Fee 7.25
Table L: Annual General Meeting 2023
GST Audit Fee 9.90
For adoption of the financials of FY2022-23, the details of
Other Certification Fee 6.20
the Annual General Meeting are as below:
Reimbursement of Expenses 0.99
Day & Date Monday, August 07, 2023
Total 64.99
Time 04.00 P.M. (IST)
Venue The Annual General Meeting will be
GENERAL BODY MEETINGS held through video conferencing/
Table K: Location and time for the last three Annual Other Audio-Visual Means as set out
General Meetings (AGMs): in the notice convening the Annual
General Meeting.
Particulars FY2021-22 FY2020-21 FY2019-20 The deemed venue of the AGM
Day, Date, Thursday, Thursday, Friday, July will be the corporate office of the
Company i.e., 158, Rayala Towers,
Time & June 30, 2022 July 29, 2021 10, 2020 at 12
Anna Salai, Chennai 600 002
Venue at 04.00 PM at 04.00 PM Noon through
through two- through two- two-way Video Remote e-Voting Period
way Video way Video Conferencing Starts Wednesday, August 02, 2023 at
Conferencing Conferencing (“VC”) or Other 09.00 A.M. (IST)
(“VC”) or (“VC”) or Audio-Visual Ends Saturday, August 05, 2023 at
Other Audio- Other Audio- Means (“OAVM”) 05.00 P.M. (IST)
Visual Means Visual Means Cut - off date for Monday, July 31,2023
(“OAVM”) (“OAVM”) e-voting
Record date for August 15, 2023
Dividend Shareholders whose names appear
in the Register of Members /
statements of beneficial position as
on the record date shall be eligible
for dividend, if approved by the
Members at the AGM.
105
Payment of Dividend Particulars No. of No. of

Shareholders equity
Recommended dividend Final Dividend of ` 12/- has been shares
recommended by the Board and
will be paid subject to the approval Aggregate Number of 0 0
of members at the ensuing Annual shareholders and the outstanding
General meeting. shares in the suspense account
lying as on April 01, 2022
Date of payment On or before September 10, 2023
The Dividend will be paid by way Number of shareholders who 0 0
of electronic transfer who have approached listed entity for
furnished the bank account details to transfer of shares from suspense
the Company/Registrar/Depository account during the year
Participant. Physical Instruments will
Number of shareholders to whom 0 0
be despatched to the shareholders
who have not furnished Bank details. shares were transferred from
suspense account during the year
Financial Year April 1 to March 31
Shareholders whose shares are 0 0
transferred to the demat account
Annual Listing Fees of the IEPF Authority as per
The Annual Listing Fees for the FY 2023-24 have been paid Section 124 of the Act
within the due dates to BSE Limited (‘BSE’) and National Aggregate number of shareholders 0 0
Stock Exchange of India Limited (‘NSE’) where the shares of and the outstanding shares in the
the company are listed. suspense account lying as on
March 31, 2023
Dematerialisation of shares and liquidity
The voting right on the shares outstanding in the Suspense
As per the notification issued by SEBI, the Company’s Equity
Account as on March 31, 2023, shall remain frozen until the
Shares are compulsorily tradable in electronic form. The
rightful owner(s) of such shares claims the shares.
International Securities Identification Number (‘ISIN’) allotted
to the Equity Shares of the Company under the Depository
Designated e-mail id for investor services
System is INE596I01012.
To serve the investors better and as required under Regulation
4,89,93,595 equity shares, representing 99.99% of the 46(2)(j) of the SEBI LODR Regulations, the Company
Company’s paid-up equity share capital, have been has a dedicated e-mail address for investor complaints:
dematerialized as on March 31, 2023. Only one share is [email protected] which is continuously
held in physical form by a shareholder. Further, during monitored by the Company’s Compliance Officer.
FY 2018-19, the Securities and Exchange Board of India
(‘SEBI’) and Ministry of Corporate Affairs (‘MCA’) has Compliance with discretionary requirements
mandated that existing members of the Company who All mandatory requirements of the SEBI LODR Regulations
hold securities in physical form and intend to transfer have been complied with by the Company. The status of
their securities after April 01, 2019, can do so only in compliance with the discretionary requirements, as stated
dematerialised form. Hence, trading in equity shares of the under Part E of Schedule II to the SEBI LODR Regulations,
Company is permitted only in dematerialized form as per is as under:
notification issued by SEBI.
The Board: As on date, the positions of the Chairman and
the Managing Director/Whole-Time Director are separate.
Outstanding GDRs/ADRs/Warrants or any
Mr. D K Mehrotra is the Independent and Non-Executive
convertible instruments, conversion date and likely
Chairman of the Board and Mr. Anuj Kumar is the Managing
impact on equity
Director of the Company.
As on March 31, 2023, the Company does not have any
outstanding GDRs/ADRs/ Warrants. Modified opinion(s) in Audit Report: The Auditors have
expressed an unmodified opinion in their report on the
Disclosures with respect to Demat Suspense financial statements of the Company.
Account / Unclaimed Suspense Account
In accordance with the requirement of Regulation 34(3) and Reporting of Internal Auditor: The Internal Auditor reports
Part F of Schedule V to the SEBI LODR Regulations, details to the Audit Committee and submits quarterly presentations
of equity shares in the suspense account are as follows: to the Committee on their reports.
106
Maintenance of Chairman’s office: The Non-Executive unpaid for a period of seven years from the date of transfer to
Chairman has a separate office which is not maintained by the Unpaid Dividend Account of the Company are also liable
the Company. to be transferred to the IEPF. The said requirement does not
apply to shares in respect of which there is a specific order of
Transfer of Unclaimed Dividend and Shares to Court, Tribunal or Statutory Authority, restraining any transfer
Investor Education and Protection Fund of the shares.
Pursuant to the provisions of Section 124 and 125 of the
Act, read with Investor Education Protection Fund Authority The Company has sent individual communication to the
(Accounting, Audit, Transfer and Refund) Rules, 2016 as concerned shareholders at their registered address, whose
amended, the dividends, unclaimed for a period of seven dividend remains unclaimed, and the details are uploaded on
years from the date of transfer to the Unpaid Dividend the Company’s website.
Account of the Company is mandatorily required to be
transferred to the Investor Education and Protection Fund During the year under review, the Company has not credited
(‘IEPF’) established by the Central Government. Further, any amount to the IEPF Account.
the shares pertaining to which dividend remains unclaimed /
Table M: Distribution of shareholding of Company’s Shareholders as on March 31, 2023 and Shareholding Pattern as
at March 31, 2023
The distribution of equity shareholding as on March 31, 2023, is as below:
S. Shareholding of Number of % of Total Share Amount % of Total Share

No Nominal Value (INR) Shareholders (INR) Amount
1 1 - 5000 474314 99.6814 84717840.00 17.2916
2 5001 - 10000 767 0.1612 5567920.00 1.1365
3 10001 - 20000 322 0.0677 4632460.00 0.9455
4 20001 - 30000 95 0.0200 2323710.00 0.4743
5 30001 - 40000 43 0.0090 1525330.00 0.3113
6 40001 - 50000 37 0.0078 1694220.00 0.3458
7 50001 - 100000 74 0.0156 5370250.00 1.0961
8 100001 and above 178 0.0374 384104230.00 78.3989
475830 100.0000 489935960.00 100.0000
Shareholding Pattern as at March 31, 2023

Category Category of Nos. of No. of fully Total nos. Shareholding No. of Shares Shareholding Number of Number of Number of
shareholder shareholders paid up shares held as a % of Underlying , as a % Locked in Locked in equity shares
equity shares total no. Outstanding assuming full shares shares held in
held of shares convertible conversion of dematerialised
(calculated securities convertible form
as per SCRR, (including securities
1957) Warrants) ( as a
percentage of
diluted share
capital)
(A) Promoter & 1 9759730 9759730 19.9204 0 19.9204 9759730 100 9759730
Promoter
Group
(B) Public 465833 39233866 39233866 80.0796 0 80.0796 0 0 39233865
(C) Non 0 0
Promoter -
Non Public
(C1) Shares 0 0 0 0 0 0 0 0 0
Underlying
DRs
(C2) Shares 0 0 0 0 0 0 0 0 0
Held By
Employee
Trust
Total 465834 48993596 48993596 100 0 100 9759730 19.9204 48993595
107
Nomination Facility the Companies or its RTA may use physical payment
As per the provisions of the Act, facility for making nomination instruments for making cash payments to the investors.
is available to the Members in respect of shares held by them. Companies shall mandatorily print the bank account details
Nomination forms (SH-13/SH-14) can be obtained from the of the investors on such payment instruments.
Company’s RTA by Members holding shares in physical
form. Members holding shares in electronic form may obtain Regulation 12 of the SEBI LODR Regulations allows the
Nomination forms from their respective DPs. Company to pay dividend by cheque or ‘payable at par’
warrants, where payment by electronic mode is not possible.
Members holding shares in single name are especially Shareholders may kindly note that payment of dividend
advised to make nomination in respect of their shareholding and other cash benefits through electronic mode has many
in the Company and for cancellation and variation of advantages like prompt credit, elimination of fraudulent
nomination, if they are desirous of doing so. encashment/delay in transit and more. They are requested
to opt for any of the above-mentioned electronic modes of
Shares held in Electronic Form payment of dividend and other cash benefits and update
their bank details:
Shareholders holding shares in electronic form may please
note that instructions regarding change of address, bank a) In case of holdings in dematerialised form - By contacting
details, email ids, nomination and power of attorney should their DP and giving suitable instructions to update the
be given directly to the DP. bank details in their demat account.
Shares held in Physical Form b) In case of holdings in physical form - By informing the
Shareholders holding shares in physical form may please Company’s RTA i.e., Link Intime India Private Limited,
note that instructions regarding change of address, bank through a signed request letter with details such as their
details, emails ids, nomination and power of attorney should Folio No(s), Name and Branch of the Bank in which
be given to the Company’s RTA i.e., Link Intime India Private they wish to receive the dividend, the Bank Account
Limited. type, Bank Account Number allotted by their banks after
implementation of Core Banking Solutions (‘CBS’) the
Updation of bank details for remittance of dividend/ 9-digit MICR Code Number and the 11-digit IFSC Code.
cash benefits in electronic form This letter should be supported by a cancelled cheque
bearing the name of the first shareholder.
The SEBI vide its Circular No. CIR/MRD/DP/10/2013 dated
March 21, 2013 (‘Circular’) to all listed companies requires
Table N: ISIN and Stock Code details
them to update bank details of their shareholders holding
shares in demat mode and/or physical form, to enable usage Stock Exchanges ISIN Stock Code
of the electronic mode of remittance i.e., National Automated BSE Limited (‘BSE’) 543232
Clearing House (‘NACH’) and National Electronic Fund Phiroze Jeejeebhoy Towers,
Transfer (‘NEFT’), for distributing dividends and other cash Dalal Street,
benefits to the shareholders. Mumbai – 400 001,
Maharashtra, India
INE596I01012
The Circular further states that in cases where either the National Stock Exchange of CAMS
India Limited (‘NSE’)
bank details such as Magnetic Ink Character Recognition
Exchange Plaza, 5th floor,
(‘MICR’) and Indian Financial System Code (‘IFSC’),
Plot No. C/1,
amongst others, that are required for making electronic
G Block, Bandra Kurla
payment are not available or the electronic payment Complex, Bandra
instructions have failed or have been rejected by the Bank, (East), Mumbai 400 051
108
Market Information
Table O: Market Price Data- High, Low (based on daily closing price) and volume (no. of shares traded) during each
month in FY 2022-23 of the Company’s shares, on BSE and NSE:
BSE NSE
Month High Price Low Price Traded Volume High Price Low Price Traded Volume
(Lakhs) (Lakhs)
April 2022 2,680.00 2,316.00 2.15 2682.75 2320.80 29.96
May 2022 2,480.00 2,039.00 2.36 2489.00 2,037.15 33.25
June 2022 2,655.95 2,232.50 2.94 2656.00 2,232.00 43.74
July 2022 2,470.00 2,154.00 1.32 2470.00 2,152.00 18.89
August 2022 2,498.60 2,175.00 25.76 2500.00 2,177.05 40.93
September 2022 2,649.95 2,271.00 4.75 2640.00 2275.00 45.00
October 2022 2,689.00 2,440.00 3.44 2690.00 2443.05 24.09
November 2022 2,551.40 2,253.10 2.30 2556.95 2255.00 30.58
December 2022 2,330.60 2,152.85 4.57 2329.75 2150.00 35.17
January 2023 2,339.95 2,190.00 0.86 2340.00 2188.10 16.33
February 2023 2,329.80 2,212.05 0.78 2331.00 2205.00 13.06
March 2023 2,357.90 2,002.10 1.08 2355.00 2010.00 13.81
The Company’s shares are regularly traded on BSE Limited and National Stock Exchange of India Limited, as is seen from the
volume of shares indicated in the above Table containing Market Information.
Table P: Performance of the share price of the Company in comparison to Nifty 50
CAMS & NIFTY 50
CAMS
NIFTY 50
109
Web Links:
As required under the various provisions of the Companies Act, 2013, Listing Regulations and other applicable laws and
for availability of information for the stakeholders, the web link of the documents placed on the Company’s website are
provided below:
Sr Item Web address
1 Details of business https://www.camsonline.com/about-cams/overview/overview
2 Terms and conditions of appointment of independent https://www.camsonline.com/about-cams/shareholder-relations/disclosures
directors
3 Composition of various committees of board of https://www.camsonline.com/about-cams/shareholder-relations/composition-
directors board-committees
4 Code of conduct of board of directors and senior https://www.camsonline.com/about-cams/shareholder-relations/policies
management personnel
5 Details of establishment of vigil mechanism/ Whistle https://www.camsonline.com/about-cams/shareholder-relations/policies
Blower policy
6 Criteria of making payments to non-executive https://www.camsonline.com/about-cams/shareholder-relations/policies
directors
7 Policy on dealing with related party transactions https://www.camsonline.com/about-cams/shareholder-relations/policies
8 Policy for determining ‘material’ subsidiaries https://www.camsonline.com/about-cams/shareholder-relations/policies
9 Details of familiarization programmes imparted to https://www.camsonline.com/about-cams/shareholder-relations/policies
independent directors
10 Contact information of the designated officials of the https://www.camsonline.com/about-cams/shareholder-relations/shareholder-
listed entity who are responsible for assisting and support
handling investor grievances
11 email address for grievance redressal and other https://www.camsonline.com/about-cams/shareholder-relations/shareholder-
relevant details support
12 Financial results https://www.camsonline.com/about-cams/shareholder-relations/annual-report
13 Shareholding pattern https://www.camsonline.com/about-cams/shareholder-relations/shareholding-
pattern
14 Schedule of analyst or institutional investor meet and https://www.camsonline.com/about-cams/shareholder-relations/stock-
presentations made by the listed entity to analysts or exchange-intimation
institutional investors simultaneously with submission
to stock exchange
15 Advertisements as per regulation 47 (1) https://www.camsonline.com/about-cams/shareholder-relations/stock-
exchange-intimation
16 Separate audited financial statements of each https://www.camsonline.com/about-cams/shareholder-relations/subsidiary-
subsidiary of the listed entity in respect of a relevant snnual-reports
financial year
17 Whether company has provided information under https://www.camsonline.com/about-cams/shareholder-relations
separate section on its website as per Regulation
46(2)
18 Materiality Policy as per Regulation 30 https://www.camsonline.com/about-cams/shareholder-relations/policies
19 Dividend Distribution policy as per Regulation 43A https://www.camsonline.com/about-cams/shareholder-relations/policies
(as applicable)
Secretarial Audit Company except as mentioned therein. The Secretarial Audit

The Company’s Board of Directors appointed M/s. B. Chandra, Report forms part of the Board’s Report.
Practising Company Secretary, to conduct secretarial audit
of its records and documents for the FY 2022-23. Green Initiative
As a responsible corporate citizen, the Company welcomes
The secretarial audit report confirms that the Company has and supports the ‘Green Initiative’ undertaken by the Ministry
complied with all applicable provisions of the Companies of Corporate Affairs, Government of India, enabling electronic
Act 2013, Secretarial Standards, Depositories Act 2018, delivery of documents including the Annual Report, amongst
SEBI LODR Regulations, SEBI (Prohibition of Insider others, to shareholders at their e-mail address previously
Trading) Regulations, 2015, each as amended and all other registered with the DPs and RTAs.
regulations and guidelines of SEBI as applicable to the
110
Shareholders who have not registered their e-mail addresses Registrar and Share Transfer Agents:
so far, are requested to do the same. Those holding shares
Name : Link Intime India Private Limited
in demat form can register their e-mail address with their
concerned DPs. Shareholders who hold shares in physical Address : C-101, 1st Floor, 247 Park, Lal
form are requested to register their e-mail addresses with the Bahadur Shastri Marg, Vikhroli (West)
RTA, by sending a letter, duly signed by the first/sole holder Mumbai - 400 083, Maharashtra, India
quoting details of their Folio No. E-mail : [email protected]
Investor grievance
CREDIT RATING
e-mail : [email protected]
The company do not have any borrowing facilities. Hence
there are no credit ratings assigned to the Company’s Website : www.linkintime.co.in
facilities during the year.
DETAILS OF CORPORATE POLICIES/ CODES
ADDRESS FOR CORRESPONDENCE: The corporate governance policies are uploaded on the
Registered Office : New No. 10, Old No. 178, M.G.R. website of the company:
Salai, Nungambakkam, www.camsonline.com - Shareholder Relations - Policies
Chennai - 600 034, Tamil Nadu, India
FREQUENTLY ASKED QUESTIONS
Corporate Office : No.158, Rayala Towers, Tower - I,
Anna Salai, Chennai-600 002, For ready reference of the shareholders of the Company,
Tamil Nadu, India responses to frequently asked questions on certain
investor related services are made available on the
Website : www.camsonline.com Company’s website.
E-mail : [email protected]
Sd/-
Date: May 06, 2023 DIN: 00142711
111
ANNEXURE I
DECLARATION REGARDING COMPLIANCE BY BOARD MEMBERS AND

SENIOR MANAGEMENT PERSONNEL WITH THE CODE OF CONDUCT
This is to confirm that the Company has adopted the CAMS Code of Conduct for its Directors including the Managing Director
and Senior Management.
The Code is available on the Company’s website:

https://digital.camsonline.com/cams/documents/policies/Code%20of%20Conduct%20for%20Directors%20and%20
Senior%20Management.pdf
I confirm that the Company has in respect of the financial year ended March 31, 2023, received from the Senior Management
Team of the Company and the Members of the Board, a declaration of compliance with the Code of Conduct as applicable
to them.
For the purpose of this declaration, Senior Management Team means the Members of the Management one level below the
Managing Director as on March 31, 2023.
On behalf of the Senior Management Team
Sd/-
Anuj Kumar
Place: Chennai Managing Director
Date: May 06, 2023 DIN: 08268864
112
ANNEXURE II
CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations, 2015)
To
The Members,
New No.10, Old No.178, M.G.R.Salai,
Nungambakkam Chennai 600034
Dear Sir
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of COMPUTER
AGE MANAGEMENT SERVICES LIMITED bearing CIN L65910TN1988PLC015757 and having registered office at New No.10,
Old No.178, M.G.R. Salai, Nungambakkam Chennai 600034 (hereinafter referred to as ‘the Company’), produced before
me/us by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule
V Para-C Sub clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements)
Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number
(DIN) status at the portal www.mca.gov.in) as considered necessary and explanations furnished to me by the Company & its
officers, I hereby certify that none of the Directors on the Board of the Company for the financial year ending on March 31,
2023 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and
Exchange Board of India, Ministry of Corporate Affairs, or any such other Statutory Authority.
Ensuring the eligibility of for the appointment / continuity of every Director on the Board is the responsibility of the management
of the Company. Our responsibility is to express an opinion on these based on our verification. This certificate is neither an
assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has
conducted the affairs of the Company.
Sd/-
B Chandra
M No.: A20879 CP 7859
Date: May 06, 2023 PEER REVIEW NO 602/2019
113
ANNEXURE III
PRACTISING COMPANY SECRETARY CERTIFICATE ON CORPORATE GOVERNANCE
To
The Members of
COMPUTER AGE MANAGEMENT SERVICES LIMITED
1. I have examined the compliance of conditions of Corporate Governance by M/s. COMPUTER AGE MANAGEMENT
SERVICES LIMITED, for the year ended on March 31, 2023, as stipulated under the relevant provisions of Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as referred to in the
Listing Regulations for the period April 01, 2022 to March 31, 2023, with the relevant records and documents maintained
by the Company and furnished to us and the Report on Corporate Governance as approved by the Board of Directors.
2. The compliance of conditions of Corporate Governance is the responsibility of the management. My examination was
limited to review of procedures and implementation thereof, adopted by the Company for ensuring the compliance of the
conditions of corporate governance as stipulated in the said clause. It is neither an audit nor an expression of opinion on
the financial statements of the Company.
3. Based on the aforesaid examination and according to the information and explanations given to us, I certify that the
Company has complied with the conditions of Corporate Governance as stipulated in the Listing Regulations.
4. I further state that, such compliance is neither an assurance as to the future viability of the Company nor the efficiency or
effectiveness with which the management has conducted the affairs of the Company.
Sd/-
B Chandra
M No.: A20879 CP 7859
Date: May 06, 2023 PEER REVIEW NO 602/2019
114
ANNEXURE IV
CEO AND CFO CERTIFICATION
We, Anuj Kumar, Managing Director and Ramcharan Sesharaman, Chief Financial Officer certify that:
a) We have reviewed the financial statements and cash flow statement for the period ended March 31, 2023 and to the best
of our knowledge and belief:
• these statements do not contain any materially untrue statement or omit any material fact or contain statements that
might be misleading;
• these statements together present a true and fair view of the Company’s affairs and comply with existing Accounting
Standards, applicable laws and regulations.
b) To the best of our knowledge and belief, no transactions entered into by the Company during the period ended March 31,
2023 are fraudulent, illegal or violative of the Company’s code of conduct.
c) We accept responsibility for establishing and maintaining internal controls for financial reporting and we have evaluated
the effectiveness of internal control systems of the Company pertaining to financial reporting. Deficiencies in the design
or operation of such internal controls, if any, of which we are aware have been disclosed to the auditors and the Audit
Committee and steps have been taken to rectify these deficiencies.
d) i) There has not been any significant change in internal control over financial reporting during the period under reference;
ii) There has not been any significant change in accounting policies during the period requiring disclosure in the notes
to the financial statements; and
iii) We are not aware of any instance during the period of significant fraud with involvement therein of the management
or any employee having a significant role in the Company’s internal control system over financial reporting.
Sd/- Sd/-
Place: Chennai Anuj Kumar Ramcharan Sesharaman
Date: May 06, 2023 Managing Director Chief Financial Officer
115
Management Discussion and Analysis

A. INTRODUCTION DEVELOPMENTS/ OVERALL SCENARIO DURING
The Registrar and Transfer Agency (RTA) business THE YEAR
serves the Mutual Fund (MF) Industry. Mutual Funds FY 2022-23 was generally robust for the mutual fund
are investment vehicles that pool the money of Industry, with significant growth in key metrics - transactions,
several investors’ to invest in the financial markets, in Assets under Management (AUM) & SIPs – both in count &
accordance with the objectives specified by the fund. collections. New products and offerings were also launched
The advantages of investing money through mutual across the board in the form of flexicap funds, multicap funds,
funds are, among others, entrusting the savings to FoFs, ETFs, and index funds.
professional fund managers, diversifying the assets,
During the year, the impact of various macroeconomic
and having access to global financial instruments
events like the Russia-Ukraine war, high inflation, increased
and markets.
commodity prices, crypto currency crash, and reports of
China Covid-19 surge had a negative impact on the capital
The asset management industry has emerged stronger
markets. However, considering the mutual fund industry’s
from the global pandemic with the markets registering
focus on a strong regulatory framework, digitalisation of
a broad-based recovery, led by increased private
investment modes, enhanced growth in corporate earnings,
consumption and improvement in retail and institutional
higher disposable income, and investable household
investment activity. During the year, retail investors
surplus, it appeared to be on a strong footing. This gives
remained the key driver of net inflow into equities.
us a compelling reason to believe that the products and
services offered by the industry would see rapid uptick in the
The RTA industry broadly mirrors the performance of
coming years.
the MF Industry.
B. INDUSTRY OVERVIEW BUSINESS ENVIRONMENT

At CAMS, we continue to invest in technology across our
The Indian mutual fund industry came into being in
offerings and in IT infra for improving our operational
1963, with the formation of Unit Trust of India. Three
performance. This enables us to provide superior experience
decades later, in the year 1993, the industry was
to our investors and distributors on a continual basis.
opened to private sector, with the introduction of
the first formal mutual fund regulations, namely the The MF industry touched new highs, with the AUM crossing
Securities and Exchange Board of India (Mutual Fund) ` 40 lakhs crore during the year, and closing at a record
Regulations, 1993. The regulations for the RTA industry, ` 39.4 lakhs crore as on March 31, 2023. The number of
viz. Securities and Exchange Board of India (Registrars folios also followed suite and registered a record high of 5.7
to an Issue and Share Transfer Agents) Regulations, crore at the end of the year.
1993, were also issued in the same year.
The Systematic Investment Plan (SIP) accounts were
The RTA’s are regulated by the Securities and Exchange at a record 6.4 crore as on March 31, 2023. Backed by
Board of India (SEBI) which issues them the Certificate digitalisation, SIP continues to be a popular investment
of Registration to operate. RTA’s serving more than 2 mode, with the inflows resulting in significant market
crore folios are designated as Qualified Registrar and expansion. Though the recent changes in taxability of long
Transfer Agent (QRTA) by SEBI and fall under the term capital gain may impact the attractiveness of debt funds,
purview of enhanced governance mechanism. other factors like liquidity, diversification, and professional
management are expected to play a critical role in sustaining
The Indian mutual fund industry is dominated by three growth in this segment. The growth in mutual fund industry is
QRTAs, Computer Age Management Services Limited expected to be replicated by the RTA’s.
(CAMS), being a prominent one amongst them. The
SEGMENT WISE PERFORMANCE AND OUTLOOK
Company enjoys an aggregate mutual fund share of
approximately 68%, based on Quarterly AAUM, as MF Operations
compared to 56% in March 2010. We have retained our The launch of NFO’s picked up good momentum during
leadership position right from our initial years and have the year. The majority of NFO’s were for equity funds in terms
been consistently growing since then. of valuation.
116
CAMS retained its market leadership, with 68.2% average CAMSPay is introducing more new age payment methods
quarterly AAUM as on March 31, 2023.The live folios like UPI AutoPay, Paybylink, and other mobile applications
serviced on the same date stood at 57.4 million as compared for seamless recurring and QR based payments. It has also
to 51.6 million in the previous year. The SIP book also embarked on a journey to explore the existing accounts to
continued to be on an upswing with 35.4 million active SIPs cross sell and up sell our new offerings, with the objective to
recorded as on March 31, 2023, against 29.9 million as on create an additional avenue to further our revenue growth.
March 31, 2022.
CAMS Account Aggregator - CAMS Financial Information
Other Businesses Services Private Limited (‘CAMS FIS’), a wholly owned
subsidiary of CAMS, has been issued with the Certificate
CAMS Insurance Repository - CAMS Insurance Repository
of Registration by the Reserve Bank of India as a Non-
Services Limited (CAMSRep), a wholly owned subsidiary
Banking Financial Company to function as an Account
of CAMS, intensified its business development efforts to
Aggregator(‘AA’). The AA environment uses technology
highlight its offerings as an Insurance Repository and its
for simple and secure exchange of data between financial
digital services for life insurance clients and general insurers.
institutions like banks, insurance agencies or mutual fund
An increasing number of insurance companies have started
companies with the consent of the customer.
subscribing for the digital services offered by the Company,
which will enable their policy holders to avail the benefits of During the year, the service became available for the
digitalization. industry and our go-to-market strategy was implemented
for larger reach. Collaboration with Financial Information
The insurance companies have also shared data for Providers (FIP) and Financial Information users (FIU) was
unclaimed policies for deep contact tracing, a specialised also completed to ensure better adoption of our offering. The
service launched by us in the previous year. The service total FIU+FIP closure for AA now stands at more than 100.
enables them to locate policy holders who have stopped We also continue to leverage our brand name, trust, and
paying their premium and are entitled to claim certain security for signing up with more FIPs and FIUs.
refunds/benefits.
As public awareness about the Account Aggregator platform
Insurance Repository services have also gained momentum. continues to build and considering that a seamless digital
New insurers have been activated and volume penetration user journey is critical for its mass adoption, efforts are being
has improved with more insurance policies being converted taken to simplify the user journey and introduce improved
into electronic form. The Company has also expanded its workflows and new features for easy customer on-boarding.
outsourcing services and has received a contract from a
large life insurance company for policy servicing. CAMS KRA - CAMS Investor Services Private Limited
(CAMS KRA), is a wholly owned subsidiary of CAMS, and is
Insurance Regulatory and Development Authority of India registered with the Securities and Exchange Board of India
(IRDAI), the regulator for insurance sector, has made Know as a KYC Registration Agency. The Company is focusing on
your Customer (KYC) process mandatory for the issuance improving its market share and has recently collaborated
of any insurance policy including Health Insurance, General with large MFs and Fintechs towards it.
Insurance, and Life Insurance, with effect from November 1,
2022. This paves the way for non-life policies to be brought Fintuple Technologies Private Limited, which became our
under the ambit of electronic insurance, which in absence of subsidiary during the financial year, offers niche technology
KYC mandate was not possible. in the areas of client digital on-boarding, eKYC, fund reports,
and other digital solutions for Alternate Investment Funds
CAMSRep has utilised this opportunity to develop a KYC and Portfolio Management Services. Serving as the gateway
service to help the non-life insurers to comply with the that connects digitally savvy consumers to digitally enabled
changes in regulations. This should facilitate the subsequent manufacturers and providers via APIs, it is all set to expand
on-boarding of policyholders to electronic Insurance Account its footprints.
(eIA) and expand our serviceable market beyond life insurers.
PRODUCT DEVELOPMENT AND DIGITAL
CAMS Pay – The Payment Aggregation business carried OFFERINGS
by CAMS became a regulated business with effect from As a part of our value offerings, we are developing and
September 17, 2021. Subsequently, we made an application implementing various digital products/ applications to enable
to the Reserve Bank of India and have been issued our mutual fund investors (who are our ultimate customers) to
the in-principle approval as a Payment Aggregator on invest seamlessly. Our digital properties continue to perform
February 14, 2023. desirably and set new milestones.
117
MF Central has been launched by CAMS in collaboration CAMS Recon DynamiX is a robust, fully automated software
with Kfintech. It is a digital solution aimed at enhancing for seamless reconciliation of general ledgers, payments, and
customer service within the Mutual Fund sector by furthering transactions, bringing operational efficiency and ease to the
the ease, convenience, and speed of investing and elevating complex activity of payments and settlements. The software
the overall investment management experience across all efficiently detects errors before they become problems
Mutual Funds. During the year, the solution went live for both and brings down unnecessary delays and attendant risks
financial and non-financial transactions. considerably. Data translation, rules-based matching and
investigative tools enable real-time analytics to monitor multi-
CAMS WealthServ, the digital onboarding platform for level process status with enhanced speed, transparency, and
Alternate Investment Funds (‘AIF’) and Portfolio Management security. The product has been well received by the market.
Services (‘PMS’) investors, has been very well received by
the industry. We continue to augment the product features Technology Solution Provider (TSP) services for
Account Aggregator (AA) Industry is provided by Sterling
and build meaningful partnerships with custodians, which will
Software Private Limited, our wholly owned subsidiary, which
significantly strengthen the product’s market position in future.
commenced operations as a TSP for AA business. TSP
offers implementation of digital signature and encryption for
myCAMS, GoCORP & edge360 are market leading
both FIPs and FIUs.
platforms developed by CAMS scaled new heights during
the year. myCAMS for individual investors and GoCORP
Central Record Keeping Agency (CRA)
for institutional investors continue to offer differentiated
value-added services to our customers. edge360, a digital CAMS’s operations as a Central Recordkeeping Agency
(CRA) commenced in March 2022.
platform for distributors and advisors, is also experiencing
steady adoption and usage. Extensive marketing efforts
As on March 31, 2023, CAMS CRA acquired a 9% market share
and webinars have resulted in significant new registrations
of the eNPS subscribers. With our subscribers expressing
across these platforms, taking the overall registrations to
their satisfaction for our processes, the registration journey
over 64,000 as on March 31, 2023.
has been industry-defining. Our endeavor to provide the best
possible services to our subscribers and other intermediaries
CAMServ chatbot is a chatbot facility, which was launched
is further re-emphasised with the release of multiple user-
on CAMS website, has also been extended as a white
friendly features during the year, including the Points of
labelled service on the AMC websites. Chatbot is a software Presence module.
that simulates human-like conversations with users via
chat. Its key task is to answer user questions through OPPORTUNITIES AND THREATS
instant messages. There is an increased preference for
Opportunities
such offerings over traditional service channels, which is a
CAMS’s brand salience and superior technology, aligned
testimony to its ease of usage. A distributor based chatbot has
with the business model of our clients, continues to make us
also been developed, enabling the distributors to generate
the service partner of choice. Over the last 10 MF launches,
quick transaction links relating to the MF investments of their
we won the mandates from five reputed financial brands and
investors to support seamless transactions.
supported their rapid growth
digiInvest/ digiNFO which enables transactions via SMS
During FY 2022-23, we won the mandates from Helios
link is seeing increased usage amongst the intermediaries.
and Navi as their RTA, indicating our strong potential in
The solution has been enabled with the option to help
the industry. The mandate from Navi (an existing mutual
the distributors and AMC’s generate direct links for NFO fund) was for migrating from its existing service provider
investments and Switch transactions. while Helios, a new mutual fund, is expected to commence
operations soon.
digiLoan against MF units is a product developed for Banks
and NBFCs to provide digital loans against mutual fund Significant wins have also been achieved in alternative
investments This facility enables the Bank/NBFC customers Investment fund market, and in products such as Loan
to avail a loan by pledging their investments in debt and/or Against Mutual Funds (“LAMF”) and Recon Dynamix. Our
equity mutual funds. The product facilitates completion of the Account Aggregator platform and multiple offerings as a
lien marking for the purpose of obtaining loan through online technology solution provider for the AA industry have also
mode and eliminates the need to submit physical documents. experienced considerable client registrations. We are now
The product continues to garner increased attention from the functioning as the Central Record Keeping Agency for
loan providers. the National Pension System (NPS). The NPS platform is
118
cloud-based and extends seamless services to the NPS other financial information. Apart from internal controls, we
subscribers and the overall ecosystem. also audit the efficiency and security of our operations, our
information technologies, and data, in accordance with the
More than three decades of domain knowledge and expertise, global standards.
established processes, technology-driven infrastructure, and
marquee clients will enable us to capitalise on the growth We conduct periodic internal audits in line with an audit plan
in Insurance Repository, Account Aggregator, Payment that is drawn at the beginning of the year and approved by
Aggregator and CRA businesses. Increased focus on the Audit Committee. The scope of the exercise includes
KYC requirements and mandatory issuance of policies ensuring adequacy of internal control systems, adherence
in electronic form will also enhance opportunities for the to management policies and compliance with the laws and
insurance repository business significantly. Taking all these regulations of the country.
factors into consideration, we are well placed to secure a
significant market share in the above businesses. Internal Audit Reports are placed before the Audit Committee
of the Board of Directors, which reviews the adequacy and
Threats effectiveness of the internal control systems and suggests
The threats faced by CAMS has been listed as part of improvements for strengthening them further.
the analysis. The Company has a documented policy for
managing the risks/ threats likely to be faced by it. DISCUSSION ON FINANCIAL PERFORMANCE
WITH RESPECT TO O P E R AT I O N A L
With the growing prominence of technology in all our PERFORMANCE
activities, cyber security is of paramount importance to us. This discussion on Financial Analysis encompasses
Enhanced cyber security practices & effective governance CAMS’s consolidated financials during FY 2022-23. We
have resulted in mature cyber security frameworks. To are a technology-driven financial infrastructure and service
safeguard the interest of our stakeholders, we ensure that provider to mutual funds and other financial institutions.
cyber security controls and practices are embedded into our Numbers for the year under review are shown on comparable
business processes. Our IT practices are regularly reviewed basis as discussed below.
and audited by independent agencies and our systems are
subject to intense scrutiny and validation in the systems audit. FY 2022-23 Highlights
Other than this, proactive measures are taken to ensure that • During FY 2022-23, the consolidated revenue from
we are adequately protected against external threats. Our operations was ` 97,183 lakhs as against ` 90,967
BitSight score is 800, which is one of the best in the BFSI lakhs in the previous year.
Sector. We comply with the enhanced requirements imposed
on us by the regulator by virtue of being a Qualified Registrar • The Profit Before Tax was ` 38,019 lakhs as compared
and Transfer Agent. to ` 38,265 lakhs in the previous year.
• The Earnings Per Share was ` 58.3 against ` 58.7 in the
Our revenue is highly concentrated on the Mutual Fund previous year.
industry and its few clients. The competition and the regulatory
restrictions may bring down the total expense ratios, which in • The Company continues to be debt free as on March 31,
turn could lower the fees paid to us by our clients. 2023.
Cognizant of the fact that any failure in detecting errors in KEY FINANCIAL RATIOS
our statutory records or errors or omissions in our business (i) Details of significant changes (i.e., change of 25% or more
operations could expose us to potential losses, we are taking as compared to the immediately previous financial year)
all steps to ensure compliance as per the applicable laws in key financial ratios, along with detailed explanations
and regulations. thereof, have been provided as part of the Notes to the
Standalone Financials Accounts (Note No. 40).
INTERNAL CONTROL SYSTEMS AND ADEQUACY
CAMS has an adequate internal controls system, (ii) Additional Ratios are provided below:
commensurate with the size and nature of its business. The Ratio FY23 FY22
system is supported by documented policies, guidelines, and Debtors Turnover (No of days) 10.9 9.1
procedures to monitor business and operational performance, Current Ratio 6.6 5.2
which are aimed at ensuring business integrity and promoting Operating Profit Margin 34.8% 37.4%
operational efficiency. All the records are adequately Net Profit Margin 28.6% 31 %
maintained for the preparation of financial statements and Change in Return on Net Worth 39.9% 49.3%
119
A significant change has been noted only in the Regulatory Risk

Current Ratio due to an increase in bank deposits and CAMS, being a QRTA, is subjected to audits from the
investments by ` 71 crore. Regulator. Non-compliance of any regulations could result
in observations in the SEBI Audits and can expose us to
Since we are engaged in IT enabled services, the warnings and penalties. To reduce the audit observation, a
Inventory Ratios are not relevant. Also, since there are pre-defined process identifies the outliers on real-time basis,
no borrowings, the Interest Coverage Ratio and Debt primarily for the known observation, and remediates them on
Equity Ratio are not relevant. an immediate basis. This process is automated with workflow
enabled model to ensure that audit observations on critical
OPERATIONAL EXCELLENCE areas are avoided.
During the year, CAMS continued to be the leader in
delivering quality service to the MF industry for all modes of Compliance Risk
transactions such as physical, electronic & digital. Significant The Company is required to comply with a host of regulations
efforts have been made in maintaining the overall quality as part of its compliance activities. Any default could result
in performance and accuracy levels to ensure continual in fines and penalties. For addressing the same, we have
improvement in services. The investor satisfaction survey in place an extensive system for monitoring compliances,
results for FY 2022-23 showed that 96.1% of our customers with individual functional heads, tasked with specific areas.
are ‘very satisfied/satisfied’ with our services as compared to Extensive support from external experts has been taken
92.7% in the previous year. The number of participants in the across all areas and these experts have been retained on a
survey have also doubled as compared to the previous year. regular basis. Multiple audits are carried out to ensure these
compliances and are reported to the Audit Committee/ Board
RISKS AND CONCERNS in its Meetings. Audit/other related mitigating avenues have
been identified and implemented.
CAMS recognises that risk is inherent to any business activity
and that managing risk effectively is critical to its immediate
Technology Risk
and future success. We have a Board level Risk Management
Committee in addition to an internal Risk Management Inability to meet the demands of our clients or adapt to the
Committee, which monitors our risk-related matters. A latest technological changes might affect our business, as
our success depends upon the development of requisite
Board approved Risk Management Policy defines the Risk
technology platforms and applications, necessary for
Management Framework to identify, assess and manage
business conduct. In this regard, steps are being initiated for
potential risks and opportunities. This policy provides for
ensuring adoption of the latest technology and for meeting
detailed key tasks to identify, assess, manage, monitor, and
the requirements of the clients.
report key risk areas across the group. The identified risks of
CAMS are as below:
Information Security Risk
Operational Risk As we handle large amounts of data, Information Security
Risk is one of the identified risks. We have an extensive
We face risks in our operations for any error or omission that
Information Security Management System (ISMS), headed
could lead to significant monetary and reputational losses. by a Chief Information Security Officer, which is supported by
We have identified the key areas where such risks could exist a well-established ISMS policy. Other than this, our systems
and taken proactive steps for carrying out process automation are being periodically audited by external agencies. BitSight,
and tighter adherence to the established processes. an agency which monitors the level of information security,
has given us a very high rating, giving us a score of 800.
Risks relating to Business Continuity Plan (BCP) This is a market-leading score and an assurance for robust
In view of the nature of our operations, we are required information security within the Company.
to ensure a Business Continuity Plan, which will enable
us to provide services on a continued basis, even under People Risk
unforeseen events. The risks of failure to ensure BCP is one Dependency on Key Managerial Personnel (KMP) and
amongst the identified risks. To mitigate the same, we conduct Senior Management is considered as a risk. The loss of
full-scope half-yearly BCP drill, using the infrastructure of any key person, and/or the inability to attract new talents,
the BCP location. As part of the regulatory requirements, reliance on third party service providers in several areas of
unannounced BCP drills are also carried out. operations, and our inability to have full control over their
120
services would affect our business. Towards mitigating these several talent pools through academia collaboration to meet
risks, all the managerial positions have been filled and the our specialised skill requirements. We have a robust training
retention of KMP through ESOPs and incentive programs and development framework to enable certification in the
has been initiated. The process to create future leaders MF Domain. Fostering innovation and automation through
through training, skill certification and workshops is also differentiated and high impact recognition programs has
under progress. been a hall mark of our people excellence practices. Multiple
communities have been formed to engage our employees
Revenue Concentration through various activities, helping us in maintaining a
A significant part of our revenue comes from MF Business. participative work environment.
Within MF the revenue is concentrated within a group of top
clients. To mitigate this risk, the Company is maintaining a Over the years, deep domain knowledge of our employees
persistent focus on enhancing the non-MF revenue. has helped us to establish business leadership and win a
significant market share. Our employees collaborate with
We perceive high growth opportunities in Insurance precision and synchronisation to enable us to be a market
Repository, CAMSPay, and services to AIF clients. In addition, leader and to keep in tune with the demands of the market.
we have also been appointed as the CRA for Pension Funds We continually invest in building a diverse and inclusive
and have added Account Aggregator business to our portfolio environment for our employees and our employees enable
with the aim to broaden our sources for revenue generation. us to reach out to diverse MF investors across the country.
Leveraging the competencies acquired through Mutual Fund
services business, we have launched products like Recon Our career development initiatives range from up-
Dynamix, and Loan against Mutual Funds (LAMF), among skilling, using structured in-house programs and specialist
others. Though we will continue to expand our businesses certifications, to sponsorship of courses at premium
and garner additional revenue from them, the Mutual Fund management institutions. We assist our employees in
services business is likely to remain dominant in near to creating their individual development plans and facilitate
medium term. growth through job rotations, internal hiring, and promotions.
Managers are also encouraged to engage in meaningful
Contractual Risk dialogues and coach employees to enhance their
CAMS has entered into contractual agreements with various performance.
clients that may contain clauses which might adversely
affect our business, on the occurrence of certain events like We continue to uphold high standards of governance
employee fraud or misconduct or errors and omissions in the with respect to all statutory compliance and regulatory
operations. Though we have extensive insurance coverage requirements. Our risk awareness and mitigation programs
for addressing such liabilities, it may not be adequate to fully have furthered our compliance posture. We have several
compensate the loss. avenues for our employees to voice their opinion and work in
a safe and conducive environment.
HUMAN RESOURCES
Employee attraction, development, and retention are key SAFE AND HEALTHY ENVIRONMENT
priorities for CAMS. We believe that engaged employees The operations of CAMS does not involve any manufacturing.
contribute to a higher level of engagement with our clients We strive to maintain the highest safety standards and
and investors, resulting in profitability and growth. Making periodic fire drills are carried out at various premises. First
the Company a great place to work is always our endeavour. aid training is given to a group of employees to handle any
eventuality and employee feedback is regularly obtained on
Our People strategy has been to develop a culture of learning various health and safety considerations. The offices with
& growth, building leadership capability to manage growth a significant number of employees have either an in-house
and to bring out the best in our employees by creating an medical centre or tie-up with leading hospitals to provide
environment for agility and transformation. We have created treatment in case of medical exigencies.
121
Business Responsibility & Sustainability

Reporting
SECTION A: GENERAL DISCLOSURES
I. Details of the listed entity
1. Corporate Identity Number (CIN) of the Listed Entity L65910TN1988PLC015757
2. Name of the Listed Entity Computer Age Management Services Limited
3. Year of incorporation 1988 (May 25)
4. Registered office address New No.10, Old No 178, M.G.R. Salai, Nungambakkam,
Chennai, Tamil Nadu, 600034
5. Corporate Office address No.158, Rayala Towers, Tower - I, Anna Salai
Chennai 600002
6. E-mail [email protected]
7. Telephone 044-61092992
8. Website www.camsonline.com
9. Financial year for which reporting is being done FY 2022-23
10.
Name of the Stock Exchange(s) where shares are BSE Limited (BSE) and the National Stock Exchange
listed of India Limited (NSE)
11. Paid-up Capital ` 489.31 million (as on March 31, 2023)
12. Name and contact details (telephone, email address) Mr. Manikandan Gopalakrishnan
of the person who may be contacted in case of any [email protected]
queries on the BRSR report
13.
Reporting boundary - Are the disclosures under Consolidated
this report made on a standalone basis (i.e., only
for the entity) or on a consolidated basis (i.e., for
the entity and all the entities which form a part of its
consolidated financial statements, taken together)
II. Products/services
14. Details of business activities (accounting for 90% of the turnover):
S. Description of Main Activity Description of Business Activity % of Turnover of
No. the Entity
1. Registrar and transfer agent Technology-driven financial infrastructure and services 90%
(RTA) for mutual funds (MFs) provider to Asset Management Companies, Alternate
Investment Funds
15. Products/Services sold by the entity (accounting for 90% of the entity’s turnover):
S. No. Product/Service NIC Code % of total Turnover contributed
1. Service Partner to Asset 62099 90%
Management Company
122
III. Operations
16. Number of locations where plants and/or operations/offices of the entity are situated:
Location Number of plants Number of offices Total
National Not Applicable 6 offices 289
280 Service Centres PAN India
3 Data centers
International Not Applicable Not Applicable Not Applicable
17. Markets served by the entity:
a. Number of locations
Locations Number
National (No. of States) 25 States and 5 UTs
International (No. of Countries) Not Applicable
b. What is the contribution of exports as a percentage of the total turnover of the entity?
Not Applicable
c. A brief on types of customers

CAMS is a registrar and transfer agent (RTA) for mutual funds (MFs) and Alternate investment funds with
a widespread customer base of 300. CAMS is a B2B service partner offering technology-driven financial
infrastructure solutions to Mutual Funds, Alternate Investment Funds, and Insurance companies. The company
is a market leader serving 68% (approx.) of average assets under management as of March, 2023. Further,
the company also serves customers through a variety of touch points such as the pan-India network of service
centers, white label center, online, mobile apps and chatbots
MF & Alternate investment Funds Insurance vertical Payments Business

Asset Management Companies, Insurance Companies Asset Management Companies,
Alternate investment funds NBFCs
IV. Employees
18. Details as of the end of Financial Year:
a. Employees and workers (including differently abled):
S. Particulars Total Male Female
No. (A) No. (B) % (B / A) No. (C) % (C / A)
EMPLOYEES
1. Permanent (D) 5174 3532 68.26% 1642 31.74%
2. Other than Permanent (E) 1269 1013 79.83% 256 20.17%
3. Total Employees (D + E) 6443 4545 70.54% 1898 29.46%
WORKERS
4. Permanent (F)
5. Other than Permanent (G) Not Applicable
6. Total Employees (F + G)
123
b. Differently abled Employees and workers

S. Particulars Total Male Female
No. (A) No. (B) % (B / A) No. (C) % (C / A)
DIFFERENTLY ABLED EMPLOYEES
1. Permanent (D) 11 9 81.82% 2 18.18%
2. Other than Permanent (E) 5 4 80.00% 1 20.00%
3. Total Employees (D + E) 16 13 81.25% 3 18.75%
DIFFERENTLY ABLED WORKERS
4. Permanent (F)
5. Other than Permanent (G) Not Applicable
6. Total Employees (F + G)
19. Participation/inclusion/representation of women for the year ended March 31, 2023
No. and Percentage of Females

Total (A)
No. (B) % (B/A)
Board of Directors 7 1 14.29%
Key Management Personnel 3 NIL 0%
20. Turnover rate for permanent employees

FY2023 FY2022 FY2021
(Turnover rate (Turnover rate (Turnover rate in the year
in current FY) in previous FY) prior to the previous FY)
Male Female Total Male Female Total Male Female Total
Permanent Employees 33% 34% 34% 31% 40% 34% 16% 30% 21%
Permanent Workers Not Applicable
*Regrouped wherever required and includes the details pertaining to the holding company and all the subsidiaries.
V. Holding, Subsidiary and Associate Companies (including joint ventures)

21. a. Name of the holding / subsidiary / associate companies / joint ventures (A)
S. Name of the holding / Indicate whether % of shares Does the entity indicated
No. subsidiary / associate holding/ Subsidiary/ held by listed at column A, participate in
companies / joint ventures Associate/ Joint entity the Business Responsibility
(A) Venture initiatives of the listed
entity? (Yes/No)
1. CAMS Insurance Repository Subsidiary 100 No
Services Limited
2. CAMS Investor Services Subsidiary 100 No
Private Limited
3. Sterling Software Private Subsidiary 100 No
Limited
4. CAMS Financial Information Subsidiary 100 No
Services Private Limited
5. CAMS Payment Services Subsidiary 100 No
Private Limited
6. Fintuple Technologies Private Subsidiary 54 No
Limited
b. Do the entities indicated in the above table participate in the Business Responsibility initiatives of the
listed entity? (Yes/No) - Yes
124
VI. CSR details

22. i. Whether CSR is applicable as per Section 135 of Companies Act, 2013: Yes
ii. Turnover: ` 998.64 crore
iii. Net worth: ` 781.72 crore
VII. Transparency and Disclosure Compliances

23.
Complaints/Grievances on any of the principles (Principles 1 to 9) under the National Guidelines on
Responsible Business Conduct:
Stakeholder Grievance Redressal FY2023 FY2022

group from Mechanism in Place Current Financial Year Previous Financial Year
whom (Yes/No)
complaint is (If Yes, then provide Number of Number of Remarks Number of Number of Remarks
received web-link for complaints complaints complaints complaints
grievance redress filed during pending filed during pending
policy) the year resolution at the year resolution at
close of the close of the
year year
Communities NIL NIL NIL NIL NIL NIL NIL
Investors NIL NIL NIL NIL NIL NIL NIL
(other than
shareholders)
Shareholders Yes 8 NIL NIL 17 NIL -
Employees Yes NIL NIL - NIL NIL -
and workers
Customers Yes NIL NIL - NIL NIL -
Value Chain Yes NIL NIL - NIL NIL -
Partners
Other (please NA
specify)
*The company conducts regular employee engagement programmes and any grievances raised by employees are addressed
periodically. No grievances were received through grievance boxes and other HR records. For more details, refer to Corporate
Governance section Page 96.
24. Overview of the entity’s material responsible business conduct issues

Please indicate material responsible business conduct and sustainability issues pertaining to environmental
and social matters that present a risk or an opportunity to your business, rationale for identifying the same,
approach to adapt or mitigate the risk along-with its financial implications, as per the following format
125
S. Material issue Indicate Rationale for identifying the In case of risk, Financial implications of
No. identified whether risk risk/ opportunity approachto adapt or the risk or opportunity
or opportunity mitigate (Indicate positive or
(R/O) negative implications)
1 Privacy and Opportunity & Risk : Privacy and Data The Company has Positive : Easier
Data Security Risk Security is a significant risk framed policies with business process
due to increasing digitisation respect to information automation, increased
after pandemic where the technology/ cyber trust and credibility among
number of digital users grew security risk which set stakeholders, improved
exponentially. forth limits, mitigation data management
strategies and internal and protected brand
Opportunity : Having a
controls. reputation.
robust information security
structure (software, expert Information Security Negative : Breach
manpower and operational Management Policy of Privacy and Data
practices) helps us reduce and Cyber Security Security.
cyber threats and ensure and Cyber Resilience
privacy, data security for all Policy are in place
our stakeholders’ privileged for protecting the
information thereby also organisation’s
facilitating increased business cyberspace against
reputation and expansion. cyber-attacks, threats
and vulnerabilities.
2 Community Opportunity Opportunity : Corporate Not applicable Positive : Supporting
and Social Social Responsibility (CSR) the CSR activities
Impact has been a long-standing helps us to create a
commitment at CAMS. meaningful impact for the
Our company’s objective communities we interact
is to support meaningful with.
socio-economic sustainable
development and enable
a larger number of people
to participate and benefit
in country’s economic
progress. The Company has
articulated its CSR philosophy
as supporting the cause of
skill-development training
for sustainable livelihood,
healthcare including
preventive healthcare, women
empowerment and welfare of
senior citizens.
3 Human Capital Opportunity & Risk: Any significant increase Increased focus is Negative: Increased cost
Risk in the turnover of employees being given for making for employee retention.
could impact the productivity the company a great
Positive: Retention
of the organisation place to work.
of key talent through
Opportunity: Human Capital various human resources
is one of the key strategic proposition increases
imperatives for the Company productivity.
and we consistently invest in
the growth & development
for aligning employees to our
business aspirations
126
S. Material issue Indicate Rationale for identifying the In case of risk, Financial implications of
No. identified whether risk risk/ opportunity approachto adapt or the risk or opportunity
or opportunity mitigate (Indicate positive or
(R/O) negative implications)
4 Corporate Risk Risk: Inadequate corporate Robust corporate Negative: Potential
Governance governance can lead to governance framework financial loss along
legal, financial, reputational, to mitigate the risks with other legal and
operational risks resulting in and foster a culture reputational damages.
stakeholder dissatisfaction. of transparency
and accountability
for enhanced
value generation
and safeguarding
the interests of
stakeholders.
5 Customer Opportunity Opportunity: Increased Not Applicable Positive: Opportunity
Relationship customer retention through to understand, engage
Management enhanced understanding and serve the customers
of customer sentiments leading to long-term
and market requirements success
leading to improved business
performance
6 Risk Risk Risk: Inadequate systems Effective risk Negative: Failing to
Management to identify, assess and management timely respond to risks
monitor potential risks to the frameworks, processes, may lead to potential
business leads to operational and controls to address financial liabilities.
disruptions and associated the challenges and
financial losses evolve into a resilient
organisation
SECTION B: MANAGEMENT AND PROCESS DISCLOSURES

This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting
the NGRBC Principles and Core Elements.
Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
Policy and management processes
1. a.
Whether your entity’s policy/ Yes Yes Yes Yes Yes Yes No Yes Yes
policies cover each principle and
its core elements of the NGRBCs.
(Yes/No)
b. Has the policy been approved by Yes Yes Yes Yes Yes Yes No Yes Yes
the Board? (Yes/No)
c.
Web Link of the Policies, if https://www.camsonline.com/about-cams/shareholder-relations/policies
available
2. Whether the entity has translated the Yes. The company has translated the policies into procedures and established
policy into procedures. (Yes / No) internal systems for better governance of NGRBC related focus areas.
3. Do the enlisted policies extend to your Yes

value chain partners? (Yes/No)
127
Disclosure Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
4. Name of the national and international All policies conform to the regulatory requirements where such regulations
codes/certifications/labels/ standards exist. The policies relating to Information Security Management system
(e.g. Forest Stewardship Council, adhere to the standards of ISO/IEC 27001:2013. The policies relating to
Fairtrade, Rainforest Alliance, Trustea) Quality Management adhere to the standards of ISO 9001:2015
standards (e.g. SA 8000, OHSAS,
ISO, BIS) adopted by your entity and
mapped to each principle.
5. S
pecific commitments, goals and Disclosure levels to be in the top 10% of comparable and best-listed entities
targets set by the entity with defined in India
timelines, if any.
6
Performance of the entity against CAMS, proactively undertake initiatives to reduce our adverse impact on
the specific commitments, goals and the environment. We have deployed digital solutions to reduce resource
targets along-with reasons in case the consumption in our operations and increased the effectiveness of the system
same are not met. for improved disclosures
Governance, leadership and oversight
7. Statement by director responsible for the business responsibility report, highlighting ESG related challenges,
targets and achievements - Refer to MD’s message on Page 15.
8.
Details of the highest authority The Board of directors and the committees supported by senior management
responsible for implementation oversees and reviews the implementation of policies at regular intervals.
and oversight of the Business Details of the Board of Directors including the DIN details is mentioned in
Responsibility policy (ies). Corporate Governance Report, Page 101.
9. D
oes the entity have a specified Yes. CSR and ESG Committee oversees, monitors the ESG programmes
Committee of the Board/ Director of the company. Also, the committee plays a pivotal role in propagating the
responsible for decision making ESG agenda across the organisation. The scope of the committee includes
on sustainability related issues? the following
(Yes / No). If yes, provide details.
a. Monitor, evaluate, if appropriate, and provide guidance on the Company’s
policies, procedures, and practices with respect to ESG Matters.
b. Review and monitor the Company’s non-financial reporting with respect
to ESG Matters.
c. Oversee the Company’s public disclosure on ESG Matters including any
sustainability reports.
d. Review and monitor the Company’s initiatives to manage and mitigate its
environmental impact.
e. Monitor actions or initiatives taken to prevent, mitigate and manage risks
related to ESG Matters which may have a materially adverse impact on
the Company or are otherwise pertinent to its stakeholders and provide
guidance hereon.
128
10. Details of Review of NGRBCs by the Company:

Subject for Review Indicate whether review was undertaken Frequency (Annually / Half Yearly /
by Director / Committee of the Board / Quarterly / Any other – please specify)
Any other Committee
P1 P2 P3 P4 P5 P6 P7 P8 P9 P1 P2 P3 P4 P5 P6 P7 P8 P9
1. Performance against Yes Yes Yes Yes Yes No No Yes Yes Quarterly NA Quarterly
above policies and
follow-up action
2. Compliance with Yes Yes Yes Yes Yes No No Yes Yes Quarterly NA Quarterly
statutory requirements
of relevance to
the principles, and
rectification of any non-
compliances
11. Has the entity carried out independent assessment/evaluation of the working of its policies by an external
agency? (Yes/No). If yes, provide the name of the agency.
The processes and compliances to the policies are subject to review by internal and external auditors. From a best
practices perspective as well as from a risk perspective, policies are periodically evaluated and updated by various
department heads and business heads and approved by the management or board.
12. If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated:
Disclosure P1 P2 P3 P4 P5 P6 P7 P8 P9
If answer to question (1) above is “No” - - - - - - Refer - -
i.e. not all Principles are covered by a Note-1
policy, reasons to be stated:
The entity does not consider the - - - - - - Refer - -
Principles material to its business (Yes/ Note-1
No)
The entity is not at a stage where it is in a - - - - - - Refer - -
position to formulate and implement the Note-1
policies on specified principles (Yes/No)
The entity does not have the financial or/ - - - - - - Refer - -

human and technical resources available Note-1
for the task (Yes/No)
It is planned to be done in the next - - - - - - Refer - -
financial year (Yes/No) Note-1
Any other reason (please specify) - - - - - - Refer - -
Note-1
*Note 1: The Company may share its expertise to help in the formulation of public policy but it does not directly engage in advocacy activities
and hence does not have a specific policy for this purpose
129
SECTION C: PRINCIPLE-WISE PERFORMANCE DISCLOSURE

PRINCIPLE 1 Businesses should conduct and govern themselves with integrity, and in a manner that is
Ethical, Transparent and Accountable.
ESSENTIAL INDICATOR
1. Percentage coverage by training and awareness programmes on any of the principles during the financial year.
Segment Total Topics/principles covered under % of persons

number of the training and its impact in respective
training and category
awareness covered by
programmes the awareness
held programmes
Board of Directors / Key Managerial During FY2023, Board members were apprised on various developments in
Personnel (KMP) the sector and globally. Independent Directors in their capacity as members
of various Committees of the Board were informed on developments relating
to diverse topics such as regulatory, economic and operating environmental
changes, new business initiatives, Corporate Governance, Information
Technology and various risk indicators.
At the Board Meetings held during the year, presentations were made to
the Board on Company policies, changes in the regulatory environment
applicable to the Company, the industry, market and customers, operations,
equity performance, earnings outlook, operational efficiencies, service and
product offerings, digitisation initiatives, customer engagement strategies,
risk management framework, fraud prevention, cyber security, CSR
initiatives, business sustenance and employee practices.
Employees other than Board of Directors 50 Financial Awareness, Functional Skill 70%
or KMPs Development Effective communication,
English Language program, Excel,
Technology training programs, Leadership
development programs.
2. Details of fines/penalties/punishment/award/compounding fees/settlement amount paid in proceedings

(by the entity or by directors/KMPs) with regulators/law enforcement agencies/judicial institutions, in the financial
year, in the following format (Note: The entity shall make disclosures on the basis of materiality as specified in
Regulation 30 of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on
the entity’s website):
Monetary
Name of the regulatory NGRB Amount Brief of the Case Has an appeal
/ enforcement agencies Principle (`) been preferred?
/ judicial institutions (Yes/No)
Penalty/Fine BSE & NSE Principle 1 2,54,880 Delay in reconstitution of No
Settlement Nomination and Remuneration
11,800 Committee.
Compounding Fee BSE & NSE Principle 1 Non filing of prior intimation
about the dividend consideration
at the Board meeting
Non-Monetary
Name of the NGRB Brief Has an appeal been preferred? (Yes/No)
regulatory/ Principle of the
enforcement agencies/ Case
judicial institutions
Imprisonment Nil
Punishment
130
3. Of the instances disclosed in Question 2 above, details of the Appeal/Revision preferred in cases where monetary
or non-monetary action has been appealed.
There have been no cases necessitating any appeal/revision.
4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available,
provide a web-link to the policy.
The Company also established a policy on Anti-Corruption and Bribery for Board of Directors and Employees promoting
the adherence to highest standards of ethics, integrity and fairness. The policy is also translated into procedures and
internal controls are established to enforce the objectives. The employees are provided trainings on anti-corruption
and anti-bribery. Code of Conduct outlines the rules and standards to be observed by the employees and Board of
Directors. Further, the Vigil mechanism of the company encourages the employees to report the genuine concerns
which could impact the operations and performances. The value chain partners viz., vendors are also communicated the
company’s objectives through vendor code of conduct. For more information, refer to webpage on company’s policies.
https://www.camsonline.com/about-cams/shareholder-relations/policies
5.
Number of Directors/KMPs/employees/workers against whom disciplinary action was taken by any law
enforcement agency for the charges of bribery/corruption:
FY 2023 2022
Current Financial Year Previous Financial Year
Directors Nil Nil
KMPs Nil Nil
Employees Nil Nil
6. Details of complaints with regard to conflict of interest

FY2023 2022
Number Remarks Number Remarks
Number of complaints received in
relation to issues of conflict of interest Nil Nil
of directors
Number of complaints received in
relation to issues of conflict of interest Nil Nil
of KMPs
7. Provide details of any corrective action taken or under way on issues related to fines/penalties/action taken by
regulators/law enforcement agencies/judicial institutions, on cases of corruption and conflicts of interest.
Not Applicable
LEADERSHIP INDICATORS
i. Awareness programmes conducted for value chain partners on any of the principles during the financial year.
Total No of awareness Topic/principle covered % of value chain partners covered (by value
program held underb the training of business done with such Partners) under
the awareness program
NIL NIL NIL
*The company during periodic interactions with various stakeholder groups including contractors, vendors and customers emphasises
the adherence of various aspects of NGRBC principles and directs the group to conduct business responsibly.
131
ii. oes the entity have processes in place to avoid/

D at the end of life, for (a) Plastics (including
manage conflict of interests involving members of the packaging), (b) E-waste, (c) Hazardous waste, and
board? (Yes/No) If yes, provide details of the same. (d) other waste.
Yes. The company has established Code of Conduct Not Applicable, owing to nature of business
for management of conflict of interest. The employees,
Senior management and Board shall not engage in 4. Whether Extended Producer Responsibility (EPR)
any business, relationship or activity, which is likely to is applicable to the entity’s activities (Yes / No). If
develop a conflict of interest with the Company. The yes, whether the waste collection plan is in line
code of conduct established by the company details with the Extended Producer Responsibility (EPR)
the probable instances leading to conflicts of interests plan submitted to Pollution Control Boards? If not,
which is as below provide steps taken to address the same.
No
• Any activity / employment that interferes with the
performance or responsibility to the company or LEADERSHIP INDICATORS
is otherwise in conflict with or prejudicial to the
1.
Has the entity conducted Life Cycle Perspective/
company
Assessments (LCA) for any of its products (for
• Investments by them / their family members viz. manufacturing industry) or for its services (for
parents, spouse and sons / daughters, in unlisted service industry)? If yes, provide details in the
entities of competitors, customers, suppliers and following format?
any other investments that compromise their Not Applicable
responsibility to the company
2. If there are any significant social or environmental
For more details, refer to https://www.camsonline. concerns and/or risks arising from production or
com/assets/PDF/ABOUT_CAMS/ Code%20of%20 disposal of your products / services, as identified
Conduct%20-%20Final.pdf in the Life Cycle Perspective/Assessments (LCA) or
through any other means, briefly describe the same
PRINCIPLE 2 Businesses should provide goods along with action taken to mitigate the same.
and services in a manner that is sustainable and Not Applicable
safe
1. Percentage of R&D and capital expenditure (capex) 3.
Percentage of recycled or reused input material
investments in specific technologies to improve to total material (by value) used in production
the environmental and social impacts of product (for manufacturing industry) or providing services
and processes to total R&D and capex investments (for service industry).
made by the entity, respectively. Not Applicable, owing to the nature of business.
None, owing to nature of business
4. Of the products and packaging reclaimed at end of
2.
Does the entity have procedures in place for life of products, amount (in metric tonnes) reused,
sustainable sourcing? (Yes/No) recycled, and safely disposed, as per the following
format:

Owing to the nature of business, the material
consumption is only limited to business operations. The Not Applicable
vendor’s code of conduct describes the pre-requisite
for adhering to ethical business practices with strict 5. Reclaimed products and their packaging materials
adherence to local social regulations. (as percentage of products sold) for each product
category.
3. Describe the processes in place to safely reclaim Not Applicable, owing to the nature of business.
your products for reusing, recycling and disposing
132
PRINCIPLE 3 Businesses should respect and promote the well-being of all employees, including those
in their value chains
1. Details of measures for the well-being of employees
Category % of employees covered by
Total Health Accident Maternity Paternity Day care
(A) insurance insurance benefits benefits facilities
No. (B) % (B/A) No. (C) % (C/A) No. (D) % (D/A) No. (E) % (E/A) No. (F) % (F/A)
PERMANENT EMPLOYEES
Male 3532 3532 100% 3532 100% - - 3532 100% - -
Female 1642 1642 100% 1642 100% 1,642 100% - - - -
Total 5174 5174 100% 5174 100% 1,642 31.74% 3532 68.26% - -
OTHER THAN PERMANENT EMPLOYEES
Male 1013 1013 100% 1013 100% - - 1013 100% - -
Female 256 256 100% 256 100% 256 100% - - - -
Total 1,269 1,269 100% 1,269 100% 256 20.17% 1013 79.83% - -
2. Details of retirement benefits for the current and previous financial year
Benefits FY2023 FY2022
No. of No. of Deducted No. of No. of Deducted
employees workers and employees workers and
covered covered as deposited covered covered as deposited
as a % a % of total with the as a % a % of total with the
of total workers authority of total workers authority
employees (Y/N/N.A.) employees (Y/N/N.A.)
PF 100% NA Yes 100% NA Yes
Gratuity* 100% NA Yes 100% NA Yes
ESI 100% NA Yes 100% NA Yes
Others – please specify NA NA - NA NA -
*Employees completing 5 years of tenure are entitled for Gratuity benefits
3. ccessibility of workplaces are the premises/offices accessible to differently abled employees as per the
A
requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by
the entity in this regard.
Yes. All CAMS offices are accessible to differently abled employees in line with the requirements of Rights of Persons with
Disabilities Act, 2016. The offices are equipped with ramps, fully furnished restrooms for differently abled employees and
elevators for easy accessibility of differently abled employees.
4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so,
provide a web-link to the policy.
No. However, CAMS is an equal opportunity employer with fair treatment of employees without any discrimination.
5. Return to work and retention rates of permanent employees that took parental leave.
Gender Permanent employees
Return to work rate Retention rate
Male 100% 100%
Female 55% 61%
Total 81% 84%
133
6.
Is there a mechanism available to receive and redress grievances for the Permanent and Non-permanent
employees’ categories of employees? If yes, give details of the mechanism in brief.
The company has in place POSH policy, Whistle blower policy and Employee Safety policy applicable to all employees.
The employees and Board of Directors shall express the grievances or concerns relating (not limited to) to illegal or
unethical practices or behaviour, actual or suspected fraud or violation of the Company’s code of conduct or ethics
policy. In addition, the POSH policy and Employee safety policy outlines the mechanisms to report the concerns on
sexual harassment and safety issues. The employees are apprised on the grievance mechanisms during onboarding.
For more details on the Whistle Blower policy, refer to the link. https://www.camsonline.com/assets/PDF/ABOUT_CAMS/
Whistle%20Blower%20Policy.pdf
7. Membership of employees and worker in association(s) or Unions recognised by the listed entity:
CAMS does not have any workers unions or association. The Company, however, recognises the right to freedom of
association and does not discourage collective bargaining.
8. Details of training given to employees

Category FY2023 FY2022
Total On health and On skill Total On health and On skill
(A) safety/wellness upgradation (A) safety measures/ upgradation
measures wellness
No. (B) % (B/A) No. (C) % (C/A) No. (B) % (B/A) No. (C) % (C/A)
EMPLOYEES
Male 3532 233 6.60 2311 65% 3625 NA NA 3625 100
Female 1642 177 10.78 1313 80% 1819 NA NA 1819 100
Total 5174 401 9.60 3624 70% 5444 NA NA 5444 100
OTHER THAN PERMANENT EMPLOYEES
Male 1013 67 6.60 658 64.96 1467 NA NA 1467 100
Female 256 27 10.55 204 79.69 407 NA NA 407 100
Total 1269 99 7.80 862 67.93 1874 NA NA 1874 100
9. Details of performance and career development reviews of employees

Total (A) No. (B) % (B/A) Total (C) No. (D) % (D/C)
EMPLOYEES
Male 3532 3532 100% 3625 3625 100
Female 1642 1642 100% 1819 1819 100
Total 5174 5174 100% 5444 5444 100
10. Health and safety management system:

a. Whether an occupational health and safety management system has been implemented by the entity? (Yes/
No). If yes, the coverage of such a system?
Yes. The company has adopted well-defined Occupational health and Safety (OHS) systems to ensure safety at
the workplace for the employees. There are no significant occupational health risks in the operating premises owing
to the nature of the business. However, the company checks the effectiveness of internal safety systems on a
periodic basis.
134
b. What are the processes used to identify work- d. Do the employees/workers of the entity have
related hazards and assess risks on a routine access to non-occupational medical and
and non-routine basis by the entity? healthcare services?
We conduct Quarterly Fire Drills at all offices which Yes, the company provides a range of non-
ensures preparedness among the occupants occupational medical and healthcare services to
and internal controls. Fire extinguishers are kept its employees in order to safeguard their physical
stocked to ensure that they can be used effectively and mental well-being. A number of initiatives are
in the event of an emergency. Employees are listed below.
informed about assembly points. The floor plans of
-
BFIT competition to encourage healthy
the premises are exhibited at strategic spots. The
behaviour through exercise, walking, and
display board at offices also includes emergency
mindful eating. The leader boards were
contact information such as police, hospitals, and
monitored by ePortal tracking, and teams that
the fire department. We have full-fledged physical
demonstrated excellence were recognised.
security systems which includes Security guards,
Employees responded enthusiastically to the
Biometric access control system & CCTV systems.
initiative as well.
Electrical safety measures are in place as per
the statutory norms. Many offices have in-house -
Virtual yoga, meditation, and stress
medical teams for any first-aid treatments. management programmes - Awareness
programmes to promote a healthy lifestyle
Various initiatives were launched to promote
physical and mental well-being and nudge -
Webinars on Gratitude, Anxiety, and
employees to develop healthy behaviours and Depression.
habits. All employees and their immediate families
- Awareness programmes for enabling healthy
are eligible for hospitalisation coverage. The
lifestyle
Company has enhanced the employee benefits for
protection of health and well-being such as Group - First aid kits are always maintained and are
term insurance and Personal Accident insurance. available on the premises.
c.
Whether you have processes for workers to -
The Company encourages employees to
report the work-related hazards and to remove avail of top up insurance plan on personal
themselves from such risks. accident insurance for themselves and top up
The nature of the business poses no occupational Mediclaim for their eligible dependents.
hazards to the employees. Employees are - The Company has Gym facilities, Table Tennis
educated on how to mitigate hazards by getting facilities with high workforce concentration.
involved in fire drills and training. We conducted wellness sessions on various
health related topics during the year.
11. Details of safety-related incidents

Safety Incident/Number Category FY2023 FY2022
Current Previous
Financial Year Financial Year
Lost Time Injury Frequency Rate (LTIFR) Nil Nil
(per one million-person hours worked)
Total recordable work-related injuries Permanent Nil Nil
Employees
No. of fatalities (safety incident) Nil Nil
High consequence work-related injury or ill-health (excluding Nil Nil
fatalities)
12. Describe the measures taken by the entity to ensure a safe and healthy workplace
The company ensures fair and safe working premises for all the employees through the various initiatives as detailed in
principle 3.
135
13. Number of complaints on the following made by employees:

FY2023 FY2022
Filed Pending Remarks Filed Pending Remarks
during the resolution at during the resolution at
year the end of year year the end of year
Working conditions Nil Nil - Nil Nil -
Health and safety Nil Nil - Nil Nil -
14. Assessments for the year:

% of your plants and offices that were assessed (by entity or statutory
authorities or third parties)
Health and safety practices The company conducts periodic audits for assessing the health and safety systems
Working conditions and working conditions. No assessments have been done by statutory authorities
or third parties.
15. Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on
significant risks / concerns arising from assessments of health and safety practices and working conditions.
Not applicable.
1. Does the entity extend any life insurance or any compensatory package in the event of death of?
(A) Employees (Y/N) = Yes, the company has constituted “Bereavement Grant Policy”.
(B) Workers (Y/N) = Not Applicable
2. Provide the measures undertaken by the entity to ensure that statutory dues have been deducted and deposited
by the value chain partners.
The Company is compliant with deduction of statutory dues of employees towards income tax, provident fund, professional
tax, Employees State Insurance etc. as applicable from time to time. Value chain partners (vendors) are equally responsible
to comply as per the contract with the Company. The Company has statutory and internal audit policies and procedures
to ensure the above. CAMS ensures that statutory dues for the transactions within the remit of the company are deducted
and deposited duly. The company expects its value chain partners to uphold the transparency and accountability in any
transactions initiated.
3. Provide the number of employees having suffered high consequence work-related injury / ill-health / fatalities (as
reported in Q11 of Essential Indicators above), who have been rehabilitated and placed in suitable employment
or whose family members have been placed in suitable employment:
Total no. of affected employees No. of employees that are rehabilitated
and placed in suitable employment
or whose family members have been
placed in suitable employment
FY2023 FY2022 FY2023 FY2022
Current Financial Previous Financial Current Financial Previous Financial
Year Year Year Year
Employees NIL NIL NIL NIL
Workers Not Applicable
4.
Does the entity provide transition assistance programmes to facilitate continued employability and the
management of career endings resulting from retirement or termination of employment? (Yes/No)
No
136
5. Details on assessment of value chain partners

% of value chain partners (by value of business done with such partners) that
were assessed
Health and safety practices NIL.
Working conditions The company conducts regular audits for value chain partners providing services within
the premises of the company
6. Provide details of any corrective actions taken or underway to address significant risks/concerns arising from
assessments of health and safety practices and working conditions of value chain partners.
None
PRINCIPLE 4 Businesses should respect the interests of and be responsive to all its stakeholders
ESSENTIAL INDICATOR
1. Describe the processes for identifying key stakeholder groups of the entity.
CAMS is dedicated to being a responsible business player by adhering to high corporate governance standards and
remaining a good corporate citizen. We live up to our brand values catering to the needs of diverse stakeholder groups
and identify the opportunities for business growth. We prioirtise the stakeholder groups by the level of importance they
exert on the business and have strategised structured process for engaging with the stakeholder groups. The company
ensures that the interests of diverse stakeholder groups are balanced in all strategic decision-making processes and
responds to their concerns including Environmental, Social, Economic, and Governance issues in a timely manner.
2. ist stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder
L
group
Key Whether Channels of Frequency of Purpose and scope of
Stakeholders identified as communication (Email, engagement engagement including key
Vulnerable & SMS, Newspaper, (Annually/Half topics and concerns raised
Marginalised Pamphlets, Advertisement, Yearly/ Quarterly during such engagement
Group Community Meetings, / Others – please
(Yes/No) Notice Board, Website), specify)
Others
Customers No Email, Mobile Apps, Monthly Service delivery and Customer
Customer Satisfaction satisfaction
Surveys, Websites, Face to
face meetings
Employees No Emails, Internal Regular Performance appraisal, Career
communications, Career growth, Skill development
reviews training, Fair remuneration, safe
workplace, employee satisfaction.
Suppliers/ No Email, Personal Meetings Regular Code of Conduct, Responsible
Contractors Business practices, Delivery of
services
Investors/ No Email, Website, Newspaper Annual General Financial Performance
Shareholders ads meetings
Community Yes Newspaper, Notice Board, Need-based Implementation of CSR activities
Community Meeting across key scope areas like
Health, Education and, Skill
development.
Governments/ No Email, Regular Meetings Regular Regulatory Compliance
Regulatory bodies
Media No Press Release, Presentation Regular/ Stakeholder Engagement
meetings Quarterly
137
1. Provide the processes for consultation between stakeholders and the Board on economic, environmental,
and social topics or if consultation is delegated, how is feedback from such consultations provided to
the Board.
The company consults with internal and external stakeholder groups on a regular basis through various platforms
such as grievance mechanisms, general meetings, and so on, and mutually discusses EES issues. The feedback
from stakeholder groups are taken up with the board members periodically and strategic direction in decision-making
and policy development follows from the board.
2. Whether stakeholder consultation is used to support the identification and management of environmental,
and social topics (Yes / No). If so, provide details of instances as to how the inputs received from stakeholders
on these topics were incorporated into the policies and activities of the entity.
Yes, the company identified the key focus areas for CSR intervention through proactive engagement with stakeholder
groups. Also, the key material topics for the organisation is prioritised considering the impact on the stakeholder
groups and the impact of the business on Environment, Economy and Society.
3. Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/
marginalized stakeholder groups.
The Company implemented need-based community development programs in key focus areas such as the
environment, skill development, and education to meet the needs of disadvantaged, vulnerable, and marginalized
groups, particularly EWS and tribals. Through the following initiatives, we investigated ways to continue supporting
society’s most marginalised segments.
- Providing support to senior citizens who do not have children/relatives
- Women self-help groups for enhancing the entrepreneurial skills.
- Tree plantation to improve the green cover.
PRINCIPLE 5 Businesses should respect and promote human rights
1. Employees who have been provided training on human rights issues and policy(ies)
Total (A) No. of % Total (C) No. of %
employees (B/A) employees (D/C)
covered (B) covered (D)
EMPLOYEES
Permanent 5174 5174 100% 5444 5444 100%
Other than permanent 1269 1269 100% 1874 1874 100%
Total Employees 6443 6443 100% 7318 7318 100%
2. Details of minimum wages paid to employees

Total Equal to More than Total Equal to More than
(A) Minimum Wage Minimum Wage (D) Minimum Wage Minimum Wage
No. (B) % (B/A) No. (C) % (C/A) No. (E) % (E/D) No. (F) % (F/D)
EMPLOYEES
Permanent 5174 0 0 5174 100% 5444 0 0 5444 100%
Male 3532 0 0 3532 100% 3625 0 0 3625 100%
Female 1642 0 0 1642 100% 1819 0 0 1819 100%
Other than permanent 1269 0 0 1269 100% 1269 0 0 1269 100%
Male 1013 0 0 1013 100% 1013 0 0 1013 100%
Female 256 0 0 256 100% 256 0 0 256 100%
138
3. Details of remuneration/salary
Male Female
Number Median Number Median
remuneration/ salary/ remuneration/ salary/
wages of respective wages of respective
category in ` category in `
Board of Directors (BoD) 1 412.17 0 NA
(Whole-time directors)
Key Managerial Personnel 2 136.81 0 NA
(other than BoD)
Employees other than BoD and KMP* 4545 2.04 1898 2.04
4. Do you have a focal point (Individual/ Committee) responsible for addressing human rights impacts or issues
caused or contributed to by the business? (Yes/No)
Yes, the employees of CAMS can raise concerns about human rights issues with HR department.
5. Describe the internal mechanisms in place to redress grievances related to human rights issues.
Staff members can contact the Human Resources team for any concerns relating to human rights issues. The complaints
are duly addressed, and appropriate corrective measures are implemented.
6. Number of Complaints on the following made by employees and workers

FY2023 FY2022
Filed Pending Remarks Filed Pending Remarks
during resolution during resolution
the year at the end of the year at the end of
the year the year
Sexual Harassment 1 Nil - 2 Nil The company has taken
timely measures for the
effective redressal of
grievances
Discrimination at Nil Nil - Nil Nil -
workplace
Child labour Nil Nil - Nil Nil -
Forced labour / Nil Nil - Nil Nil -
Involuntary labour
Wages Nil Nil - Nil Nil -
Other human rights Nil Nil - Nil Nil -
related issues
7. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment cases
To ensure safe work working environment for all employees, the Company enacted an appropriate Policy on the
Prevention of Sexual Harassment of Women at the Workplace in line with the provisions of the Sexual Harassment of
Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013. The POSH Committee, which includes 4 female
members oversees implementation internal controls to prevent harassment incidents. The company is intolerant of any
discrimination or harassment issues and takes prompt action to address the complaint. We also encourage employees
and directors to report genuine concerns, such as illegal or unethical practices or behaviour, while maintaining complete
confidentiality. We educate employees on the prevention of sexual harassment in the workplace on a regular basis
through internal communications and training programmes.
139
8. Do human rights requirements form part of your business agreements and contracts? (Yes/No)
Yes, human rights mandates are included in business agreements and contracts.
9. Assessments for the year

% of offices that were assessed (by entity or statutory
authorities or third parties)\
Child labour The company doesn’t engage in the child or forced labor in its operations
Forced/involuntary labour and ensures this by means of periodic checks. However, there were no
external audits conducted during the reporting period.
Sexual harassment
Discrimination at workplace
Wages
Others – please specify
10. P
rovide details of any corrective actions taken or underway to address significant risks/concerns arising from
the assessments at Question 9 above.
Not Applicable
1. etails of a business process being modified / introduced as a result of addressing human rights grievances/
D
complaints.
None
2. Details of the scope and coverage of any human rights due-diligence conducted.
The company conducts periodic audits and engages with all the employees and other related stakeholders for identifying
instances of human rights related issues across the operating boundary. Any serious concerns identified are taken up on
an immediate basis and fair and timely resolution is sought to respected parties. The details and coverage of human rights
due diligence is covered in the essential indicators of the principle 5.
3. Is the premise/office of the entity accessible to differently abled visitors, as per the requirements of the Rights of
Persons with Disabilities Act, 2016?
Yes, the company’s premise/office is accessible to visitors with special needs and adheres to the provisions of the Rights
of Persons with Disabilities Act, 2016.
4. Details on assessment of value chain partners:

% of value chain partners (by value of business done with such
partners) that were assessed
Sexual harassment
Discrimination at workplace
Child labour
100%
Forced labour/Involuntary labour
Wages
Others – please specify
5. rovide details of any corrective actions taken or underway to address significant risks / concerns arising from
P
the assessments at Question 4 above.
Not Applicable
140
PRINCIPLE 6 Businesses should respect and make efforts to protect and restore the environment
Essential Indicators
1. Details of total energy consumption (in Joules or multiples) and energy intensity
Parameter MWh FY 22 - 23 FY 21- 22
Total electricity consumption (A) GJ 22312.10 18413.33
Total fuel consumption (B) GJ 780.19 795.65
Energy consumption through DG (C) GJ 1840.71 2065.05
Solar (D) GJ 63.50 62.28
Total energy consumption (A+B+C) GJ 24996.50 21336.32
Energy intensity per rupee of turnover GJ/million rupees of 2.50 2.30
(Total energy consumption/ turnover in rupees) turnover
ote: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency. (Y/N)
N
If yes, name of the external agency.
No
2. Does the entity have any sites/facilities identified as designated consumers (DCs) under the Performance,
Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under
the PAT scheme have been achieved. In case targets have not been achieved, provide the remedial action taken,
if any.
Not Applicable
3. Provide details of the following disclosures related to water.

*The data relating to Water Consumption and discharge is not maintained by CAMS in FY2023.
4. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and
implementation.
No
5. Please provide details of air emissions (other than GHG emissions) by the entity.
No, since there are no other emissions than GHG emissions that company accounts for.
6. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity
Parameter FY 2023 FY 2022

(Current (Previous
Financial Year) Financial Year)
Water withdrawal by source (in kilolitres)
(i) Surface water NA NA
(ii) Groundwater 92661600 92661600
(iii) Third party water 1140480 673920
(iv) Seawater / desalinated water NA NA
(v) Others
Total volume of water withdrawal (in kilolitres) (i + ii + iii + iv + v) 93802080 93335520
Total volume of water consumption (in kilolitres) - -
Water intensity per rupee of turnover (Water consumed / turnover) NA NA
Water intensity (optional)- the relevant metric may be selected by the entity NA NA
141
Parameter FY2023 FY2022

Total Scope 1 emissions 194.21 211.98
Metric tonnes of CO2 equivalent
Total Scope 2 emissions 5020.22 4143.00
Total Scope 1 and Scope 2 emissions (per million rupee of turnover) tCO2e 0.52 0.47
Note: Disclosures of FY2022 is restated with the addition of new fuel sources
7. Does the entity have any project related to reducing Green House Gas emissions? If yes, then provide details.
The company has deployed use of renewable energy in the operations leading to savings of 14.29tCO2 emissions.
8. Provide details related to waste management by the entity, in the following format:
Total Waste Generated (in Metric Tonnes)
Plastic waste (A) 0.88 NA
E-waste (B) NA NA
Bio-medical waste (C) NA NA
Construction and demolition waste (D) NA NA
Battery waste (E) 2.750 5.154
Radioactive waste (F) NA NA
Other Hazardous waste. Please specify, if any. (G) NA NA
Other Non-hazardous waste generated (H). Please specify, if any. NA NA
(Break-up by composition i.e., by materials relevant to the sector)
Total (A+B + C + D + E + F + G + H) 3.63 5.154
For each category of waste generated, total waste recovered through recycling, re-using or other recovery
operations (in metric tonnes)
Category of Waste
(i) Recycled 3.63 5.154
(ii) Re-used - -
(iii) Other recovery operations - -
Total 3.63 5.154
For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)
Category of waste
(i) Incineration - -
(ii) Landfilling - -
(iii) Other disposal operations - -
Total - -
Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency. (Y/N)
If yes, the name of the external agency.
No
142
9. Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted
by your company to reduce the usage of hazardous and toxic chemicals in your products and processes and the
practices adopted to manage such wastes.
The company has appropriate processes and mechanisms in place to sustainably dispose the wastes generated. Owing
to nature of the business, there are no processes involving the production of hazardous or toxic chemicals are produced.
E-Wastes, which form the major share of the waste generated, are given to authorised recyclers for extending the
lifecycle and disposing the wastes responsibly causing no harm to the surrounding environment.
Reducing paper and printing consumption: We have implemented strong measures for digitising processes to reduce
the need for paper. Further minimising the usage of paper across offices is an ongoing activity. Customer accounts
have now transitioned to digital platforms. Paper based Office stationeries also have now been stopped apart from the
mandatory ones.
10. If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife
sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones, etc.) where
environmental approvals/clearances are required, please specify details in the following format:
Not Applicable, as the company does not have any offices in or near areas that are ecologically sensitive.
11. Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in
the current financial year:
Not Applicable
12. Is the entity compliant with the applicable environmental law/regulations/guidelines in India; such as the Water
(Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, and Environment
Protection Act and Rules thereunder (Y/N). If not, provide details of all such non-compliances.
Yes. CAMS adheres to all applicable environmental laws, regulations, and guidelines in India.
LEADERSHIP INDICATOR
1. Provide break-up of the total energy consumed (in Joules or multiples) from renewable and non-renewable
sources, in the following format:

(Current (Previous
Financial Year) Financial Year)
From renewable sources
Total electricity consumption (A) 63.50 62.28
Total fuel consumption (B) 0 0
Energy consumption through other sources (C) 0 0
Total energy consumed from renewable sources (A+B+C) 63.50 62.28
From non-renewable sources
Total electricity consumption (D) 22312.10 18413.33
Total fuel consumption (E) 780.19 795.65
Energy consumption through other sources (F) 1840.71 2065.05
Total energy consumed from non-renewable sources (D+E+F) 24933.00 21274.04
Note: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N)
If yes, name of the external agency
NIL
2. Provide the following details related to water discharged:
If yes, name of the external agency.
Nil. Given the nature of the company’s operations, water management is not material to our business
143
3. Water withdrawal, consumption and discharge in areas of water stress (in kilolitres):
Nil. Given the nature of the company’s operations, water management is not material to our business
4. Please provide details of total Scope 3 emissions & its intensity, in the following format:
Parameter FY2023
Total Scope 3 emissions 299.46
Total Scope 3 emissions (per million rupee of turnover) tCO2e 0.03
*Scope 3 Emissions are computed for Business Travel and Employee Commuting (Cab Travel for Night shift Employees)
If yes, name of the external agency
No
5. With respect to the ecologically sensitive areas reported at Question 10 of Essential Indicators above, provide
details of significant direct & indirect impact of the entity on biodiversity in such areas along with prevention and
remediation activities.
Not Applicable
6. If the entity has undertaken any specific initiatives or used innovative technology or solutions to improve
resource efficiency, or reduce impact due to emissions / effluent discharge/waste generated, please provide
details of the same as well as outcome of such initiatives, as per the following format:
Sr. No. Initiative undertaken Details of the initiative (Web-link, if any, Outcome of the initiative
may be provided along with summary)
1. NIL NIL NIL
2. NIL NIL NIL
7.
Does the entity have a business continuity and and cutting-edge digital technologies. The service
disaster management plan? Give details in 100 centres are linked to a central data center, which is
words/web-link supported by back offices in Chennai and Coimbatore,
The company has in place a Business Continuity as well as a central distributor helpdesk. In the event
Management plan that outlines the guidelines for of a disaster, the disaster recovery site in Mumbai
implementing risk mitigation plans in the event of ensures business continuity across all critical functions.
a disaster. The company has implemented best-in- The stakeholders are informed on the discontinuity
class Business Continuity management practises of services through SMS, Emails and other channels
and conducts BCP drills on a regular basis to assess and alternative solutions are offered for preventing the
their effectiveness. The Company has a Business glitches in the delivery of services.
Continuity Policy in place. The Policy is duly approved
by the Risk Management Committee of the Company. 8. isclose any significant adverse impact to the
D
The purpose of the Policy is to formalise the business environment, arising from the value chain of the
continuity program of the Company and to provide entity. What mitigation or adaptation measures
guidelines for developing, implementing, exercising, have been taken by the entity in this regard?
and maintaining group specific business continuity
plans for the respective groups. More importantly, the There was no reported detrimental effect on the
policy seeks to provide for the recovery of critical and environment as a result of the business activities.
important processes in accordance with pre-established
timeframes, restoration of the processing site and 9.
Percentage of value chain partners (by value
ultimately return to a permanent operating environment. of business done with such partners) that were
assessed for environmental impacts.

CAMS provides stakeholders with a competitive
advantage through its robust pan-India infrastructure Not Applicable
144
PRINCIPLE 7 Businesses, when engaging in influencing public and regulatory policy, should do so in a
manner that is responsible and transparent
ESSENTIAL INDICATORS
1. a. Number of affiliations with trade and industry chambers/associations.
Number of affiliations with trade and industry chambers/associations - Six
b. List the top 10 trade and industry chambers/associations (determined based on the total members of such
a body) the entity is a member of/affiliated to.
S. Name of the trade and industry chambers/ associations Reach of trade and industry chambers/
No. associations (State/National)
1. Madras Management Association State
2. National Association of Software and Services Companies National
(NASSCOM)
3. Madras Chamber of Commerce and Industry State
4. Registrars Association of India (RAIN) National
5. National Investment Company Service Association (NICSA) International
6. The Institute of Directors The Institute of Directors
2.
Provide details of corrective action taken or channels as given out in the website. The Company has
underway on any issues related to anti-competitive put in place a mechanism to monitor the implementation
conduct by the entity, based on adverse orders of CSR projects as well as the concerns of the
from regulatory authorities. beneficiary community. A voluntary assessment of the
project’s impact and reach is also carried out by an
In FY2023, there were no proven instances of anti-
external agency.
competitive behaviour reported.
4. Percentage of input material (inputs to total inputs
LEADERSHIP INDICATORS by value) sourced from suppliers.
1. Details of public policy positions advocated by the Not Applicable owing to the nature of the business.
entity: However, the company has in place preferential
None sourcing strategies for encouraging start-ups and local
vendors.
PRINCIPLE 8 Businesses should promote inclusive LEADERSHIP INDICATORS
growth and equitable development
1.
Provide details of actions taken to mitigate any
1.
Details of Social Impact Assessments (SIA) of negative social impacts identified in the Social
projects undertaken by the entity based on applicable Impact Assessments (Reference: Question 1 of
laws, in the current financial year. Essential Indicators above):
None Not Applicable
2. Provide information on project(s) for which ongoing 2. Provide the following information on CSR projects
Rehabilitation and Resettlement (R&R) is being undertaken by your entity in designated aspirational
undertaken by your entity. districts as identified by government bodies:
Not Applicable, Owing to nature of the business None
3. Describe the mechanisms to receive and redress 3. (a) Do you have a preferential procurement policy
grievances of the community. where you give preference to purchase from
CAMS has systems in place to acknowledge and suppliers comprising marginalised / vulnerable
tackle the concerns of various stakeholder groups. groups? (Yes/No)
Stakeholders can file grievances through various No
145
(b) From which marginalised / vulnerable groups PRINCIPLE 9 Businesses should engage with and
do you procure? provide value to their consumers in a responsible
Not Applicable manner
ESSENTIAL INDICATORS
(c)
What percentage of total procurement (by
value) does it constitute? 1. Describe the mechanisms in place to receive and
respond to consumer complaints and feedback.
Not Applicable

Organisation’s business philosophy is centred on
4. etails of the benefits derived and shared from
D driving a continuous focus on improving the customer
the intellectual properties owned or acquired by experience, with convenience at the heart of its customer
your entity (in the current financial year), based on service proposition. The Company’s customers are
traditional knowledge. investors in various mutual funds. Customers can
NIL register their complaints via email, and the company has
5.
Details of corrective actions taken or underway, detailed procedures in place to ensure that complaints
based on any adverse order in intellectual property are resolved as soon as possible. Customers can also
related disputes wherein usage of traditional address their concerns to the compliance officer for
knowledge is involved. prompt resolution. It also conducts customer satisfaction
surveys to gather stakeholder complaints. The findings
NIL are used to develop strategies for improving the
6. Details of beneficiaries of CSR Projects company’s customer experience.
For details on CSR projects and beneficiaries, refer 2. Turnover of products and/services as a percentage
Social and Relationship Capital of turnover from all products/services that carry
information about:
FY 2022-23
As a percentage to total turnover
Environmental and social parameters relevant to the product Not applicable
Safe and responsible usage recycling and/ or safe disposal
3. Number of consumer complaints in respect of the following:

FY2023 FY2022
Received Pending Remarks Received Pending Remarks
during the resolution at end during the resolution at end
year of year year of year
Data privacy Nil Nil Nil Nil Nil Nil
Advertising Nil Nil Nil Nil Nil Nil
Cyber-security Nil Nil Nil Nil Nil Nil
Restrictive Trade Nil Nil Nil Nil Nil Nil
Practices
Unfair Trade Practices Nil Nil Nil Nil Nil Nil
Others Nil Nil Nil Nil Nil Nil
146
4. Details of instances of product recalls on account 2.

Steps taken to inform and educate consumers
of safety issues: about safe and responsible usage of products and/
or services.
Not Applicable
CAMS focuses on improving their consumer experience
5. Does the entity have a framework/policy on cyber through various digital solutions and technological
security and risks related to data privacy? (Yes/No) advancements. Following the pandemic, the company
If available, provide a web-link of the policy. witnessed the growth of digital transaction modes
among customers. In order to ensure continuous
Yes, CAMS has a policy on cyber security and the risks powering of the electronic touchpoints, the company
associated with data access and privacy, which can be increased monitoring of electronic linkages, APIs, and
accessed via the link. The Board’s Risk Management the overall network.
Committee and Technology Committee review cyber
security systems on a periodic basis. CAMS has also 3. Mechanisms in place to inform consumers of any
been ISO-27001 certified for information security, risk of disruption/discontinuation of essential
ensuring that sensitive data is only accessible to services.
authorized users through appropriate internal controls.
In case of a breakdown or withdrawal of vital services,
The policy defines the terms under which users have
the company informs customers via email and SMS.
access to the Data and the steps to protect the database,
servers, and specified data from unauthorized access.
4. Does the entity display product information on the
Bitsight has given the company a score of 800, which
product over and above what is mandated as per
is among the highest in the BFSI sector regarding the
local laws? (Yes/No/Not Applicable) If yes, provide
effectiveness of internal systems.
details in brief. Did your entity carry out any survey
6.
Provide details of any corrective actions taken with regard to consumer satisfaction relating to the
or underway on issues relating to advertising, major products / services of the entity, significant
and delivery of essential services; cyber security locations of operation of the entity or the entity as
and data privacy of customers; re-occurrence of a whole? (Yes/No)
instances of product recalls; penalty / action taken Yes. The company indicates details on the product that
by regulatory authorities on safety of products / is over and above what the regulator needs. CAMS
services. undertakes customer satisfaction surveys, and the
During the reporting period, no complaints about cyber results are published on the website.
security or data privacy were received.
5. Provide the following information relating to data
Leadership Indicators breaches:
1. Channels / platforms where information on products a. Number of instances of data breaches along-with
and services of the entity can be accessed (provide impact - NIL
web link, if available). b. Percentage of data breaches involving personally
The company’s website (https://www.camsonline.com/) identifiable information of customers - NIL
and other social media platforms such as Youtube,
Facebook, Instagram, Linked In, and Twitter provide
access to product and service information.
147
Independent Auditors’ Report

To the Members of Computer Age Management Services 2. BASIS FOR OPINION
Limited, e conducted our audit in accordance with the Standards
W
on Auditing (SAs) specified under section 143(10) of
Report on the Audit of the Standalone Financial the Companies Act, 2013. Our responsibilities under
Statements those Standards are further described in the Auditor’s
Responsibilities for the Audit of the Ind AS Financial
1. OPINION Statements section of our report. We are independent
We have audited the Ind AS financial statements of of the Company in accordance with the Code of Ethics
Computer Age Management Services Limited (“the issued by the Institute of Chartered Accountants of India
Company”), which comprise the Balance Sheet as at together with the ethical requirements that are relevant to
March 31, 2023, and the statement of Profit and Loss, our audit of the financial statements under the provisions
statement of changes in Equity and statement of Cash of the Companies Act, 2013 and the Rules thereunder,
Flows for the year then ended, and notes to the Ind AS and we have fulfilled our other ethical responsibilities
Financial Statements, including a summary of significant in accordance with these requirements and the Code
accounting policies and other explanatory information. of Ethics. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis
In our opinion and to the best of our information and
for our opinion.
according to the explanations given to us, the aforesaid
Ind AS Financial Statements give the information required 3. KEY AUDIT MATTERS
by the Companies Act, 2013 (“the Act”) in the manner so ey audit matters are those matters that, in our
K
required and give a true and fair view in conformity with professional judgment, were of most significance in our
the accounting principles generally accepted in India, of audit of the financial statements of the current period.
the state of affairs of the Company as at March 31, 2023, These matters were addressed in the context of our audit
its profit and total comprehensive income, its changes of the Ind AS Financial Statements as a whole, and in
in Equity and its Cash Flows for the year ended on forming our opinion thereon, and we do not provide a
that date. separate opinion on these matters. We have determined
the matters described below to be the key audit matters
to be communicated in our report.
S. Key Audit Matter Our audit procedures related to Key Audit Matter
No.
1. Revenue recognition We evaluated the design of controls and operating
The Company generates revenue primarily from data processing effectiveness of the relevant key controls with respect to
services, customer care services and other allied services to its revenue recognition;
customers. We evaluated the appropriateness of recognition of
revenue based on the requirements of Ind AS 115.
Revenue is the most significant account in the Statement of Profit
and Loss. e Performed substantive testing on samples selected for
W
revenue transactions recorded during the year by verifying
Revenue is recognised in accordance with the agreed terms the underlying documentation/ records;
and conditions of the contract with the respective customers
and when it meets the recognition criteria as per Ind AS 115 on We tested and evaluated the general information technology
“Revenue from contracts with customers”. controls and key application controls surrounding revenue
recognition;
i) he revenue recognition process of the Company is
T We tested on a sample basis, specific revenue transactions
dependent on complex information technology systems. recorded before and after the financial year end date to
ii) There exists a risk of revenue not being recognised: check revenue recognition in the correct financial period;
a) in proportion to the service performed by the company e carried out year on year variance analysis on revenue
W
recognised during the year to identify unusual variance;
b) o
n a basis which is inconsistent with the contractual
terms agreed with the client. e enquired with the key managerial personnel and
W
c) In a correct period. executives of the company on the significant matters relating
to revenue recognition; and
d) considering price revisions/discounts agreed.
e evaluated the adequacy of disclosures relating to the
W
Hence, we consider this as a Key Audit Matter.
Revenue recognition in the financial statements.
148
No.
2. Recognition of Claims e obtained and evaluated the company’s accounting policy
W
in relation to assessing, accounting and disclosure of claims
There are claims raised by Mutual Fund investors, Asset
against the company;
management companies (AMCs) and others against the
company towards processing errors in the course of their We evaluated the design and tested the operating
operations giving rise to claims. effectiveness of the company’s key controls over the
identification, estimation, monitoring and disclosure of
In order to assess the impact of such claims against the company claims;
in its financial statements, the management is required to exercise
significant judgement to determine whether an obligation exists e examined the relevant correspondence with Investors,
W
as at reporting date requiring a provision and / or disclosure in AMCs and others to assess developments in claims to
the financial statements in accordance with the criteria set under identify potentially material cases;
IND AS 37 - Provisions, Contingent Liabilities and Contingent We reviewed the Board and other board level committee
Assets. This involves an estimation, by the management, of the meeting minutes to assess the effectiveness of
outflow of economic resources to settle the present obligation. management’s review controls and conclusions reached;
Considering the high degree of judgement involved in estimation or the significant provisions made, we evaluated the
F
and in view of the significance of the claims to the overall financial provisioning methodology. We tested the underlying data,
statements, this is considered as a key audit matter. assumptions used and obtained documents which are used
in the determination of the provisions recognised including
expected claims; and
or cases where a provision was not recognized, we
F
evaluated the requirements of disclosure in the Ind AS
financial statements.
4. INFORMATION OTHER THAN THE 5. RESPONSIBILITY OF MANAGEMENT FOR

FINANCIAL STATEMENTS AND AUDITOR’S STANDALONE FINANCIAL STATEMENTS
REPORT THEREON he Company’s Board of Directors is responsible for the
T
he Company’s Board of Directors are responsible
T matters stated in section 134(5) of the Companies Act,
for the preparation of the other information. The other 2013 (“the Act”) with respect to the preparation of these
information comprises the information included in the Ind AS Financial Statements that give a true and fair view
Management Discussion and Analysis, Board’s Report of the financial position, financial performance, changes
including Annexures to Board’s Report, Business in equity and cash flows of the Company in accordance
Responsibility Report, Corporate Governance Report with the accounting principles generally accepted
and Shareholder’s Information, but does not include in India, including the Indian Accounting Standards
the Ind AS financial statements and our auditor’s report specified under section 133 of the Act. This responsibility
thereon. also includes maintenance of adequate accounting
records in accordance with the provisions of the Act
Our opinion on the Ind AS Financial Statements does not for safeguarding of the assets of the Company and for
cover the other information and we do not express any preventing and detecting frauds and other irregularities;
form of assurance or conclusion thereon. selection and application of appropriate accounting
policies; making judgments and estimates that are
In connection with our audit of the Ind AS Financial reasonable and prudent; and design, implementation
Statements, our responsibility is to read the other and maintenance of adequate internal financial controls,
information and, in doing so, consider whether the other that were operating effectively for ensuring the accuracy
information is materially inconsistent with the Ind AS and completeness of the accounting records, relevant
Financial Statements or our knowledge obtained in the to the preparation and presentation of the financial
audit or otherwise appears to be materially misstated. statements that give a true and fair view and are free
from material misstatements, whether due to fraud
If, based on the work we have performed, we conclude or error.
that there is a material misstatement of this other
information, we are required to report that fact. We have I n preparing the Ind AS Financial Statements,
nothing to report in this regard. management is responsible for assessing the Company’s
149
ability to continue as a going concern, disclosing, d) onclude on the appropriateness of management’s

C
as applicable, matters related to going concern and use of the going concern basis of accounting and,
using the going concern basis of accounting unless based on the audit evidence obtained, whether
management either intends to liquidate the Company or a material uncertainty exists related to events or
to cease operations, or has no realistic alternative but to conditions that may cast significant doubt on the
do so. Company’s ability to continue as a going concern.
If we conclude that a material uncertainty exists, we
hose Board of Directors are also responsible for
T are required to draw attention in our auditor’s report
overseeing the company’s financial reporting process. to the related disclosures in the financial statements
6. AUDITOR’S RESPONSIBILITIES FOR THE or, if such disclosures are inadequate, to modify our
AUDIT OF THE FINANCIAL STATEMENT opinion. Our conclusions are based on the audit
evidence obtained up to the date of our auditor’s
ur objectives are to obtain reasonable assurance about
O
report. However, future events or conditions may
whether the Ind AS Financial Statements as a whole
cause the Company to cease to continue as a going
are free from material misstatements, whether due
concern.
to fraud or error, and to issue an auditor’s report that
includes our opinion. Reasonable assurance is a high e) Evaluate the overall presentation, structure and
level of assurance but is not a guarantee that an audit content of the financial statements, including the
conducted in accordance with SAs will always detect a disclosures, and whether the financial statements
material misstatement when it exists. Misstatements can represent the underlying transactions and events in
arise from fraud or error and are considered material if, a manner that achieves fair presentation.
individually or in the aggregate, they could reasonably be
We communicate with those charged with
expected to influence the economic decisions of users
governance regarding, among other matters, the
taken on the basis of these Ind AS Financial Statements.
planned scope and timing of the audit and significant
s part of an audit in accordance with Standards on
A audit findings, including any significant deficiencies
Auditing, we exercise professional judgment and in internal control that we identify during our audit.
maintain professional skepticism throughout the audit.
e also provide those charged with governance
W
We also:
with a statement that we have complied with relevant
a) I dentify and assess the risks of material ethical requirements regarding independence, and
misstatements of the Ind AS Financial Statements, to communicate with them all relationships and
whether due to fraud or error, design and perform other matters that may reasonably be thought to
audit procedures responsive to those risks, bear on our independence, and where applicable,
and obtain audit evidence that is sufficient and related safeguards.
appropriate to provide a basis for our opinion.
rom the matters communicated with those
F
The risk of not detecting a material misstatement
charged with governance, we determine those
resulting from fraud is higher than for one resulting
matters that were of most significance in the audit
from error, as fraud may involve collusion, forgery,
of the Standalone Ind AS financial statements of
intentional omissions, misrepresentations, or the
the current period and are therefore the key audit
override of internal controls.
matters. We describe these matters in our auditor’s
b) Obtain an understanding of internal controls relevant report unless law or regulation precludes public
to the audit in order to design audit procedures disclosure about the matter or when, in extremely
that are appropriate in the circumstances. Under rare circumstances, we determine that a matter
section 143(3)(i) of the Companies Act, 2013, we should not be communicated in our report because
are also responsible for expressing our opinion the adverse consequences of doing so would
on whether the company has adequate internal reasonably be expected to outweigh the public
financial controls system in place and the operating interest benefits of such communication.
effectiveness of such controls.
7. REPORT ON OTHER LEGAL AND
c) valuate the appropriateness of accounting policies
E REGULATORY REQUIREMENTS
used and the reasonableness of accounting i) s required by the Companies (Auditor’s Report)
A
estimates and related disclosures made by Order, 2020(“the Order”), issued by the Central
management. Government of India in terms of sub-section (11) of
150
section 143 of the Companies Act, 2013, we give h) With respect to the other matters to be
in the “Annexure A” to this report a statement on included in the Auditor’s Report in accordance
the matters specified in paragraphs 3 and 4 of the with Rule 11 of the Companies (Audit and
Order, to the extent applicable. Auditors) Rules, 2014, in our opinion and to
the best of our information and according to
ii) As required by Section 143(3) of the Act, we report the explanations given to us:
that:
(i) The Company has disclosed the impact of
a) e have sought and obtained all the
W pending litigations on its financial position
information and explanations which to the best in its financial statements– Refer note 39
of our knowledge and belief were necessary to the financial statements.
for the purposes of our audit.
(ii) he Company did not have any long-term
T
b) In our opinion, proper books of account contracts including derivative contracts
as required by law have been kept by the for which there were any material
Company so far as it appears from our foreseeable losses.
examination of those books.
(iii) T
he company is not required to transfer
c) he Balance Sheet, the Statement of Profit
T any amounts to the Investor Education
and Loss, Total Comprehensive Income, the and Protection Fund.
Statement of Changes in Equity, and the Cash
Flow Statement dealt with by this report are in (iv) a) he management has represented
T
agreement with the books of account. to us that, to the best of their
knowledge and belief, other than
d) In our opinion, the aforesaid standalone as disclosed in the notes to the
financial statements comply with the accounts, no funds have been
Accounting Standards specified under advanced or loaned or invested
Section 133 of the Act, read with Rule 7 of the (either from share premium or any
Companies (Accounts) Rules, 2014. other sources or kind of funds) by
the company to or in any other
e) On the basis of the written representations persons or entities, including foreign
received from the directors as on March entities (“Intermediaries”), with the
31, 2023 taken on record by the Board of understanding, whether recorded
Directors, none of the directors is disqualified in writing or otherwise, that the
as on March 31, 2023 from being appointed Intermediary shall, whether, directly
as a director in terms of Section 164 (2) of or indirectly lend or invest in other
the Act. persons or entities identified in
any manner whatsoever by or on
f) ith respect to the adequacy of the internal
W behalf of the company (“Ultimate
financial controls over financial reporting of the Beneficiaries”) or provide any
Company and the operating effectiveness of guarantee, security or the like on
such controls, refer to our separate Report in behalf of the Ultimate Beneficiaries.
“Annexure B”.
b) he management has represented
T
g) ith respect to the other matters to be included
W to us that, to the best of their
in the Auditor’s Report in accordance with the knowledge and belief, other than
requirements of section 197(16) of the Act, as as disclosed in the notes to the
amended: accounts, no funds have been
received by the company from any
In our opinion and to the best of our information persons or entities, including foreign
and according to the explanations given to us, entities (“Funding Parties”), with the
the remuneration paid by the Company to its understanding, whether recorded
directors during the year is in accordance with in writing or otherwise, that the
the provisions of section 197 of the Act. company shall, whether, directly
151
or indirectly, lend or invest in other c) T he Board of Directors of the

persons or entities identified in any Company have proposed final
manner whatsoever by or on behalf dividend for the year which is
of the Funding Party (“Ultimate subject to the approval of the
Beneficiaries”) or provide any members at the ensuing Annual
guarantee, security or the like on General Meeting. The amount of
behalf of the Ultimate Beneficiaries. dividend proposed is in accordance
and with section 123 of the Act.
c) ased on such audit procedures

B (vi) P
roviso to Rule 3(1) of the Companies
that the we have considered (Accounts) Rules, 2014 for maintaining
reasonable and appropriate in the books of account using accounting
circumstances, nothing has come software which has a feature of recording
to their notice that has caused them audit trail (edit log) facility is applicable
to believe that the representations to the Company with effect from April 1,
under sub-clause (a) and (b) as 2023, and accordingly, reporting under
specified above contain any material Rule 11(g) of Companies (Audit and
mis-statements. Auditors) Rules, 2014 is not applicable
for the financial year ended March 31,
(v) s stated in Note 28 to the standalone
A 2023.
financial statements
For Brahmayya & Co.,
a) he final dividend proposed in the
T Chartered Accountants
previous year, declared and paid Firm Regn. No.000511S
by the Company during the year is
in accordance with Section 123 of Sd/-
the Act. P. Babu
Partner
b) The interim dividends declared and Place: Chennai. Membership No. 203358
paid by the Company during the Date: May 6, 2023 UDIN: 23203358BGWEPW9786
year is in compliance with Section
123 of the Act.
152
“Annexure - A” to the Auditors’ Report

Referred to in Paragraph 7 of Our Report of Even Date
i. a) 1. he Company has maintained proper records

T granted any loans or advances in the nature of loans,
showing full particulars, details and situation secured or unsecured, to companies, firms, Limited
of Property, Plant and Equipment and relevant Liability Partnerships or any other parties, in respect
details of right-of-use assets. of which:
2. he Company has maintained proper records
T
a) he Company has not provided any loans or
T
showing full particulars of intangible assets.
advances in the nature of loans or stood guarantee,
b) Property, Plant and Equipment and right-of-use or provided security to any other entity during the
assets were physically verified by the management year, and hence reporting under clause 3(iii)(a)
during the year, in accordance with an annual plan ,3(iii)(c) ,3(iii)(d), 3(iii)(e) and 3(iii)(f) of the Order is
of verification, which in our opinion is reasonable not applicable.
having regard to the size of the Company and the b) In our opinion, the investments made during the year
nature of the Property Plant and Equipment and are, prima facie, not prejudicial to the Company’s
right-of-use assets. According to the information and interest.
explanation given to us, no material discrepancies
were noticed on such verification. iv. In our opinion and according to the information and
explanations given to us, the Company has complied
c) Based on our examination of records and according with the provisions of Sections 185 and 186 of the
to the information and explanations given to us, the Companies Act,2013 in respect of investments made in
title deeds of all the immovable properties (other
subsidiary company.
than properties where the company is the lessee
and the lease agreements are duly executed in v. ased on our examination of records and according
B
favour of the lessee) disclosed in the financial to the information and explanations given to us, the
statements are held in the name of the company. Company has not accepted any deposits or amounts
which are deemed to be deposits within the meaning of
d) Based on our examination of records and according
sections 73 to 76 of the Companies Act and the relevant
to the information and explanations given to us, the
rules made thereunder. Hence, reporting under clause
Company has not revalued any of its Property, Plant
3(v) of the Order is not applicable.
and Equipment including right-of-use assets and
intangible assets during the year. vi. The maintenance of cost records has not been specified
by the Central Government under sub-section (1) of
e) No proceedings have been initiated during the year
section 148 of the Companies Act, 2013 for the business
or are pending against the Company as at March
31, 2023 for holding any benami property under activities carried out by the Company. Hence, reporting
the Benami Transactions (Prohibition) Act, 1988 (as under clause (vi) of the Order is not applicable to
amended in 2016) and rules made thereunder. the Company.
ii. a) he Company does not have any inventory and

T vii. a) The Company is regular in depositing undisputed
hence reporting under clause 3(ii)(a) of the Order statutory dues, including Goods and Services tax,
is not applicable. Provident Fund, Employees’ State Insurance,
Income Tax, Cess and other statutory dues
b) he Company has not been sanctioned working
T applicable to it with the appropriate authorities.
capital limits in excess of ` 5 crore, in aggregate, According to the information and explanations given
at any points of time during the year, from banks to us, there were no undisputed amounts payable
or financial institutions on the basis of security of
in respect of these statutory dues outstanding as
current assets and hence reporting under clause
at March 31, 2023 for a period of more than six
3(ii)(b) of the Order is not applicable.
months from the date they became payable.
iii. Based on our examination of records and according to the b) Details of statutory dues referred to in sub-clause
information and explanations given to us, the Company (a) above which have not been deposited as
has made investment in a subsidiary company during on March 31, 2023 on account of disputes are
the year and not provided any guarantee or security or given below:
153
Nature of Dues Amount Period to which the amount Forum where the
(`) in Lakhs relates dispute is pending
Service tax 410.00 Financial Year 2013-14 CESTAT
Income Tax 6.31 Various Assessment years Demand as per TRACES
viii. A
ccording to the information and explanation given x. a) In our opinion and according to the information and
to us, the company has not surrendered or disclosed explanations given to us, the Company has neither
any transaction, previously unrecorded in the books raised during the year any money by way of initial
of account, in the tax assessments under the Income public offer or further public offer (including debt
Tax Act, 1961, as income during the year. Accordingly, instruments). Accordingly, reporting under clause
reporting under clause 3(viii) of the order does not arise. 3(x)(a) of the order does not arise.
ix. a) Based on our examination of the records of the b) In our opinion and according to the information
Company and according to the information and and explanations given to us, the Company has
explanations give to us and, the Company has not not made any preferential allotment or private
availed any loans or other borrowings from any placement of shares/ fully or partly or optionally
lender during the year. Accordingly, reporting under convertible debentures during the year. Accordingly,
clause 3(ix)(a) of the order does not arise. reporting under clause 3(x)(b) of the order does not
arise.
b) ccording to the information and explanations
A
given to us, the company has not been declared xi. a) o the best of our knowledge and belief and
T
wilful defaulter by any bank or financial institution according to the information and explanations given
or government or any government authority. to us, no fraud by the Company or no fraud on the
Accordingly, reporting under clause 3(ix)(b) of the Company has been noticed or reported during the
order does not arise. course of our audit.
c) In our opinion and according to the information and b) uring the year, no report under sub-section (12) of
D
explanations given to us, the Company has not section 143 of the Companies Act, 2013 has been
availed any term loans during the year. Accordingly, filed in Form ADT-4 as prescribed under rule 13 of
reporting under clause 3(ix)(c) of the order does not Companies (Audit and Auditors) Rules, 2014 with
arise. the Central Government.
d) Based on our examination of records of the c) We have taken into consideration the whistle blower
Company and according to the information and complaints received by the company during the
explanations given to us, the Company did not raise year while determining the nature, timing and extent
any funds during the year. Accordingly, reporting of audit procedures.
under clause 3(ix)(d) of the order does not arise.
xii. In our opinion and according to the information and
e) ased on our examination of records of the Company
B explanations given to us, the Company is not a Nidhi
and according to the information and explanations company as per provisions of the Companies Act, 2013.
given to us, the Company has not taken any funds Accordingly, reporting under clause 3(xii)(a),(b),(c) of the
from any entity or person on account of or to meet Order does not arise.
the obligations of its subsidiaries or associate
companies. Accordingly, reporting under clause xiii. A
ccording to the information and explanations given to
3(ix)(e) of the order does not arise. us and based on our examination of the records of the
Company, all transactions with the related parties are in
f) ccording to the information and explanations
A compliance with sections 177 and 188 of the Companies
given to us, the company has not raised loans Act where applicable and details of such transactions
during the year on the pledge of securities held in have been disclosed in the Ind AS financial statements
its subsidiaries companies. Accordingly, reporting as required by the applicable accounting standards.
under clause 3(ix)(f) of the order does not arise.
154
xiv. a) In our opinion and based on our examination, the financial liabilities, other information accompanying the
Company has an adequate internal audit system financial statements and our knowledge of the Board
commensurate with the size and the nature of its of Directors and Management plans and based on our
business. examination of the evidence supporting the assumptions,
nothing has come to our attention, which causes us to
b) We have considered the internal audit reports of believe that any material uncertainty exists as on the
the company, for the year under audit, issued till date of the audit report indicating that Company is not
the date of this audit report. capable of meeting its liabilities existing at the date of
balance sheet as and when they fall due within a period
xv. ccording to the information and explanations given to
A of one year from the balance sheet date. We, however,
us and based on our examination of the records of the state that this is not an assurance as to the future viability
Company during the year, the Company has not entered of the Company. We further state that our reporting is
into non-cash transactions with directors or persons based on the facts up to the date of the audit report and
connected with its directors and hence provisions we neither give any guarantee nor any assurance that all
of section 192 of the Companies Act, 2013 are not liabilities falling due within a period of one year from the
applicable to the company. Accordingly, reporting under balance sheet date, will get discharged by the Company
clause 3(xv) of the order does not arise. as and when they fall due.
xvi. a) In our opinion, the Company is not required to be xx. a) here is no unspent amount towards Corporate
T
registered under section 45-IA of the Reserve Bank Social Responsibility (CSR) on other than ongoing
of India Act, 1934. Hence, reporting under clause projects requiring a transfer to a Fund specified in
3(xvi)(a), (b) and (c) of the Order is not applicable. Schedule VII to the Companies Act in compliance
with second proviso to sub-section (5) of Section 135
b) In our opinion, there is no core investment company of the said Act. Accordingly, reporting under clause
within the Group (as defined in the Core Investment 3(xx)(a) of the Order is not applicable for the year.
Companies (Reserve Bank) Directions, 2016) and
accordingly reporting under clause 3(xvi)(d) of the b) There is no amount remaining unspent under
Order is not applicable. sub-section (5) of section 135 of the Companies
Act, pursuant to any ongoing project. Accordingly,
xvii. B
ased on our examination of the records and according reporting under clause 3(xx)(b) of the Order is not
to the information and explanation given to us, the applicable for the year.
Company has not incurred cash losses during the
financial year and in the immediately preceding financial For Brahmayya & Co.,
year. Chartered Accountants
Firm Regn. No.000511S
xviii. There has been no resignation of the statutory auditors
of the Company during the year. Accordingly reporting Sd/-
under clause 3(xviii) of the order does not arise. P. Babu
Partner
xix. O
n the basis of the financial ratios, ageing and expected Place: Chennai. Membership No. 203358
dates of realization of financial assets and payment of Date: May 6, 2023 UDIN: 23203358BGWEPW9786
155
“Annexure - B” to the Auditors’ Report

Referred to in Paragraph 7of Our Report of Even Date
REPORT ON THE INTERNAL FINANCIAL Our audit involves performing procedures to obtain audit
CONTROLS UNDER CLAUSE (I) OF SUB- evidence about the adequacy of the internal financial
SECTION 3 OF SECTION 143 OF THE controls system over financial reporting and their operating
COMPANIES ACT, 2013 (“THE ACT”) effectiveness. Our audit of internal financial controls over
We have audited the internal financial controls over financial financial reporting included obtaining an understanding of
reporting of Computer Age Management Services Limited internal financial controls over financial reporting, assessing
(“the Company”) as of 31 March 2023 in conjunction with our the risk that a material weakness exists, and testing and
audit of the Ind AS financial statements of the Company for evaluating the design and operating effectiveness of internal
the year ended on that date. controls based on the assessed risk. The procedures selected
depend on the auditor’s judgment, including the assessment
MANAGEMENT’S RESPONSIBILITY FOR of the risks of material misstatement of the Ind AS financial
INTERNAL FINANCIAL CONTROLS statements, whether due to fraud or error.
The Company’s management is responsible for establishing
We believe that the audit evidence we have obtained is
and maintaining internal financial controls based on the
sufficient and appropriate to provide a basis for our audit
internal controls over financial reporting criteria established
opinion on the Company’s internal financial controls system
by the Company considering the essential components
over financial reporting.
of internal controls stated in the Guidance Note on Audit
of Internal Financial Controls Over Financial Reporting
MEANING OF INTERNAL FINANCIAL
(“the Guidance Note”) issued by the Institute of Chartered
CONTROLS OVER FINANCIAL REPORTING
Accountants of India (‘ICAI’). These responsibilities include
the design, implementation and maintenance of adequate A company’s internal financial controls over financial reporting
internal financial controls that were operating effectively for is a process designed to provide reasonable assurance
ensuring the orderly and efficient conduct of its business, regarding the reliability of financial reporting and the
including adherence to company’s policies, the safeguarding preparation of financial statements for external purposes in
of its assets, the prevention and detection of frauds and errors, accordance with generally accepted accounting principles. A
the accuracy and completeness of the accounting records, company’s internal financial controls over financial reporting
and the timely preparation of reliable financial information, as includes those policies and procedures that (1) pertain to the
required under the Companies Act, 2013 (“the Act”). maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the
AUDITORS’ RESPONSIBILITY assets of the company; (2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation
Our responsibility is to express an opinion on the Company’s
of financial statements in accordance with generally accepted
internal financial controls over financial reporting based on
accounting principles, and that receipts and expenditures
our audit. We conducted our audit in accordance with the
of the company are being made only in accordance with
Guidance Note on Audit of Internal Financial Controls Over
authorisations of management and directors of the company;
Financial Reporting (the “Guidance Note”) and the Standards
and (3) provide reasonable assurance regarding prevention
on Auditing, issued by ICAI and deemed to be prescribed
or timely detection of unauthorised acquisition, use, or
under section 143(10) of the Companies Act, 2013, to the
disposition of the company’s assets that could have a material
extent applicable to an audit of internal financial controls,
effect on the financial statements.
both applicable to an audit of Internal Financial Controls
and, both issued by the Institute of Chartered Accountants of
INHERENT LIMITATIONS OF INTERNAL
India. Those Standards and the Guidance Note require that
FINANCIAL CONTROLS OVER FINANCIAL
we comply with ethical requirements and plan and perform
REPORTING
the audit to obtain reasonable assurance about whether
adequate internal financial controls over financial reporting Because of the inherent limitations of internal financial controls
was established and maintained and if such controls operated over financial reporting, including the possibility of collusion
effectively in all material respects. or improper management override of controls, material
156
misstatements due to error or fraud may occur and not be components of internal controls stated in the Guidance
detected. Also, projections of any evaluation of the internal Note on Audit of Internal Financial Controls Over Financial
financial controls over financial reporting to future periods Reporting issued by the Institute of Chartered Accountants
are subject to the risk that the internal financial controls of India.
over financial reporting may become inadequate because of
changes in conditions, or that the degree of compliance with
the policies or procedures may deteriorate. For Brahmayya & Co.,
OPINION Firm Regn. No.000511S
In our opinion, the Company has, in all material respects,
an adequate internal financial controls system over financial Sd/-
reporting and such internal financial controls over financial P. Babu
reporting were operating effectively as at 31 March 2023, Partner
based on the internal controls over financial reporting criteria Place: Chennai. Membership No. 203358
established by the Company considering the essential Date: May 6, 2023 UDIN: 23203358BGWEPW9786
157
Standalone Balance Sheet

as at March 31, 2023
Particulars Note As at As at
No. March 31, 2023 March 31, 2022
In ` Lakhs In ` Lakhs
A ASSETS
1 Non-current assets
Property, plant and equipment 4 8,008.02 7,874.28
Right to use assets 4 6,548.95 6,372.66
Intangible assets 4 1,982.25 2,675.99
Capital Work in Progress 4 837.46 16.34
Financial Assets
- Investments 5 24,251.61 22,908.34
- Loans & Advances 7 23.25 21.30
- Other financial assets 8 1,056.35 953.32
Deferred tax assets (Net) 25 860.02 1,012.68
Other non-current assets 12 154.82 225.71
Total Non-Current Assets 43,722.73 42,060.62
2 Current assets
Financial Assets
- Investments 5 23,643.38 22,608.40
- Trade Receivables 6 2,512.25 2,155.01
- Loans and Advances 7 89.48 64.86
- Other Financial Assets 8 326.95 536.73
- Cash and Cash Equivalents 9 1,416.93 289.26
- Bank Balances other than Cash and Cash Equivalents 10 16,869.02 11,013.10
Current Tax Assets (Net) 11 1,341.01 1,562.30
Other Current Assets 12 11,108.05 9,152.54
Total Current Assets 57,307.07 47,382.20
TOTAL ASSETS 101,029.80 89,442.82
B EQUITY AND LIABILITIES
1 Equity
Share Capital 13 4,899.36 4,890.35
Other Equity 14 67,906.13 55,566.86
Total Equity 72,805.49 60,457.21
2 Non-current liabilities
Financial Liabilities
- Lease Liabilities 5,922.12 5,677.22
Provisions 18 6,790.06 6,889.33
Total Non-Current Liabilities 12,712.18 12,566.55
3 Current liabilities
- Trade Payables
- Total liabilities dues to micro enterprises and small enterprises 15 691.48 577.25
- Dues to Others 15 3,641.33 4,242.50
- Other Financial Liabilities 16 6,742.38 6,730.26
Other Current Liabilities 17 1,994.27 2,113.88
Provisions 18 790.48 1,166.55
Total Current Liabilities 15,512.13 16,419.06
Total Liabilities 28,224.31 28,985.61
Total Equity and Liabilities 101,029.80 89,442.82
In terms of our report attached
For Brahmayya & Co For and on behalf of the Board of Directors
Registration No : 000511S
Sd/- Sd/- Sd/- Sd/-
P. Babu Dinesh Kumar Mehrotra Natarajan Srinivasan Anuj Kumar
Partner Chairman Director Managing Director
Membership No : 203358 DIN NO: 00142711 DIN NO: 00123338 DIN NO: 08268864
Sd/- Sd/-
S R Ramcharan G.Manikandan
Chief Financial Officer Company Secretary
Date: May 6, 2023 Date: May 6, 2023
Place: Chennai Place: Chennai
158
Standalone Statement of Profit and Loss

for the year ended March 31, 2023
Particulars Note March 31, 2023 March 31, 2022
No. In ` Lakhs In ` Lakhs
I Revenue from operations 19 92,861.69 86,377.00
II Other income 20 2,115.04 3,976.29
III Total revenue 94,976.73 90,353.29
IV Expenses
Employee benefits expense 21 29,488.28 27,030.38
Finance costs 22 666.64 662.40
Depreciation and amortisation expense 4 5,419.50 4,739.88
Operating expenses 23 15,756.41 13,919.75
Other expenses 24 7,091.17 6,416.53
Total expenses 58,422.00 52,768.94
V Profit before tax 36,554.73 37,584.35
VI Tax expense / (benefit): 25
Current tax 9,061.13 8,891.76
Current tax expense of earlier periods (113.09) (190.30)
Deferred tax 152.66 (58.54)
Net tax expense 9,100.70 8,642.92
VII Profit for the year 27,454.03 28,941.43
VIII Other Comprehensive Income
Items that will not be reclassified to Profit or Loss
- Remeasurements of the defined benefit liabilities / asset (14.11) 139.35
- Income tax relating to items that will not be reclassified to profit or loss 25 3.55 (35.07)
Total Other Comprehensive Income / (Loss) (net of tax) (10.56) 104.28
IX Total Comprehensive Income for the period 27,443.47 29,045.71
X Earnings per share: 27
(a) Basic 56.07 59.23
(b) Diluted 55.71 58.91
XI Dividend per share (par value of ` 10/- each) 28
Total Dividend paid 18,483.43 18,857.55
Dividend per share (In `) 37.75 38.59
See accompanying notes forming part of the financial statements

Sd/- Sd/- Sd/- Sd/-
Sd/- Sd/-
159
Standalone Cash Flow Statement

Particulars For the year ended For the year ended
31 March 2023 31 March 2022
In ` Lakhs In ` Rakhs In ` Lakhs In ` Lakhs
A. Cash flow from operating activities
Profit / (Loss) before tax 36,554.73 37,584.35
Adjustments for:
Depreciation and amortisation expense 5,419.50 4,739.88
Remeasurements on defined benefit obligation (14.11) 139.35
(Profit) / loss on sale / write off of assets 4.56 11.48
Expense on employee stock option scheme 2,437.48 2,318.45
Finance costs 666.64 662.40
Disputed taxes and Interest 79.49 24.95
Interest income (681.08) (363.53)
Dividend income (0.49) (2,717.03)
Net (gain) / loss on sale of investments (1,335.30) (1,214.80)
Adjustments to the carrying amount of investments 147.03 485.77
Expected credit loss (ECL) and Bad debts (Net) 9.84 (130.01)
Unrealised Foreign exhange (Gain)/Loss (0.02)
(Gain) / loss on lease termination (11.04) (0.70)
Operating profit / (loss) before working capital changes 43,277.23 41,540.56
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Trade Receivables (367.06) 344.13
Other Current Assets (1,955.51) (1,988.81)
Other Non-Current Assets (73.84) 2.64
Other Financial Assets 524.04 200.19
Loans & advances (26.57) (13.70)
Change in Money held in trust 24.25 1,872.46
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables (524.77) (362.08)
Provisions (475.34) (239.06)
Other Current Liabilities (119.69) (1,156.37)
Cash generated from operations 40,282.74 40,199.97
Net income tax (paid) / refunds (8,600.96) (9,605.84)
Net cash flow from / (used in) operating activities (A) 31,681.78 30,594.13
160
Standalone Cash Flow Statement

31 March 2023 31 March 2022
In ` Lakhs In ` Rakhs In ` Lakhs In ` Lakhs
B. Cash flow from investing activities
Capital expenditure of PPE and Intangible assets (3,681.22) (5,988.52)
Proceeds from sale of PPE and Intangible assets 55.96 15.83
Bank deposits including margin money (5,868.04) (75.44)
Net Sale / (Purchase) of current & non-current investments 153.29 (8,243.62)
Investment in subsidiaries (1,343.27) (320.00)
Interest received 221.09 198.74
Dividend received 0.49 2,717.03
Net cash flow from / (used in) investing activities (B) (10,461.70) (11,695.98)
C. Cash flow from financing activities
Proceeds from issue of equity shares under ESOP scheme 715.93 763.50
Principal towards lease liabilities (1,658.27) (1,260.46)
Interest towards lease liabilities (666.64) (662.40)
Dividends paid (18,483.43) (18,857.55)
Net cash flow from / (used in) financing activities (C) (20,092.41) (20,016.92)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) 1,127.67 (1,118.77)
Cash and cash equivalents at the begining of the year 289.26 1,408.03
Cash and cash equivalents at the end of the year 1,416.93 289.26

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

161
Standalone Statement of Changes in Equity

A. EQUITY SHARE CAPITAL
(1) Current reporting period (For the Year ended March 31, 2023)
` in Lakhs
Balance at the Restated balance at
Changes in Equity Changes in equity Balance at the end of
beginning of the the beginning
Share Capital due to share capital during the current
current of the current
prior period errors the current year reporting period
reporting period reporting period
4,890.35 - 4,890.35 9.01 4,899.36
(2) Previous reporting period (For the Year ended March 31, 2022)
beginning of the the beginning of the
Share Capital due to share capital during the previous
previous previous
prior period errors the previous year reporting period
reporting period reporting period
4,879.10 - 4,879.10 11.25 4,890.35
B. OTHER EQUITY
(1) Current reporting period (For the Year ended March 31, 2023)
Particulars Reserves and Surplus# Total
Securities Retained ESOP Other General
Premium Earnings Reserves Comprehensive Reserve
Income
Balance at the beginning of the 1,596.11 40,477.42 3,108.35 (650.45) 11,035.43 55,566.86
current reporting period
Changes in accounting policy - - - - - -
or prior period errors
Restated balance at the 1,596.11 40,477.42 3,108.35 (650.45) 11,035.43 55,566.86
beginning of the current
reporting period
Increase in share capital on 1,244.52 - - - - 1,244.52
account of exercise of ESOP
scheme*
ESOP Amortisation for the - - 2,672.31 - - 2,672.31
period**
Amount transferred to - - (537.60) - - (537.60)
Securities premium from ESOP
reserve due to exercise of
ESOP scheme
Total Comprehensive Income - 27,454.03 - (10.56) - 27,443.47
for the current year
Dividends - (18,483.43) - - - (18,483.43)
Transfer to retained earnings - - - - - -
Balance at the end of the 2,840.63 49,448.02 5,243.06 (661.01) 11,035.43 67,906.13
* ` 537.60 lakhs pertains to an adjustment from ESOP reserve and balance amounting to ` 706.91 lakhs is realised in cash
** Includes ESOP cost of employees of subsidiaries amounting to ` 156.64 lakhs
# Share application money pending allotment, Equity component of compound financial instruments, Capital Reserve, Debt
instruments through Other Comprehensive Income, Equity Instruments through Other Comprehensive Income, Effective portion
of Cash Flow Hedges, Revaluation Surplus, Exchange differences on translating the financial statements of a foreign operation,
Money received against share warrants are not applicable to the company..
162
Standalone Statement of Changes in Equity

(2) Previous reporting period (For the Year ended March 31, 2022)
` in Lakhs
Securities Retained ESOP Other General
Income
Balance at the beginning of the 294.96 30,393.54 1,122.69 (754.73) 11,035.43 42,091.89
previous reporting period
Changes in accounting policy - - - - - -
Restated balance at the 294.96 30,393.54 1,122.69 (754.73) 11,035.43 42,091.89
beginning of the previous
reporting period
Increase in share capital on 1,301.15 - - - - 1,301.15
scheme*
ESOP Amortisation for the - - 2,534.56 - - 2,534.56
period**
Amount transferred to - - (548.90) - - (548.90)
ESOP scheme
Total Comprehensive Income - 28,941.43 - 104.28 29,045.71
for the previous year
Dividends - (18,857.55) - - - (18,857.55)
Balance at the end of the 1,596.11 40,477.42 3,108.35 (650.45) 11,035.43 55,566.86
Money received against share warrants are not applicable to the company.

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

163
Basis of preparation and significant accounting policies
1. REPORTING ENTITY C. Basis of measurement

omputer Age Management Services Limited (‘CAMS’
C he financial statements have been prepared on the
T
or ‘Company’) is India’s largest Mutual Fund Transfer historical cost basis except for the following assets and
Agency serving over 69% of assets of the Indian mutual liabilities which have been measured at fair value:
fund industry. As an integral part of the India’s financial
(i) Certain financial assets and liabilities,
infrastructure, CAMS has built a reputation as the leading
Transfer Agency to the Asset Management Industry of (ii) Net defined benefit asset / (liability) and
India and technology enabled service solutions partner to
(iii) Equity settled share-based payments.
Private Equity Funds, Banks and Non-Banking Finance
Companies.
D. Use of estimates and judgements
The Company was incorporated on May 25, 1988 and he preparation of the financial statements in conformity
T
approved to act as Registrar and Transfer Agents to with Ind AS requires that management make judgments,
Asset Management Companies by Securities and estimates and assumptions that affect the application of
Exchange Board of India (SEBI). accounting policies and the reported amounts of assets,
liabilities and disclosures of contingent assets and
he Company had converted to Public Limited Company
T liabilities as of the date of the financial statements and
with effect from 27th September 2019. The Corporate the income and expense for the reporting period. The
Identity Number (CIN) issued by Registrar of companies, Management believes that these estimates are prudent
Chennai, Tamil Nadu is L65910TN1988PLC015757. and reasonable and are based upon the Management’s
best knowledge of current events and actions as on
he financial statements were approved by the
T each reporting date. Actual results could differ from
Company’s Board of Directors on 06th May 2023.
those estimates. Appropriate changes in estimates are
made as the Management becomes aware of changes
2. BASIS OF PREPARATION
in circumstances surrounding the estimates. Changes
A. Statement of Compliance in estimates are reflected in the financial statements in
he financial statements have been prepared in
T the period in which changes are made and, if material,
accordance with Indian Accounting Standards (Ind AS) their effects are disclosed in the notes to the financial
as per the Companies (Indian Accounting Standards) statements.
Rules, 2015 notified under Section 133 of Companies
Act, 2013, (the ‘Act’) and the guidelines issued by SEBI. Judgements
I nformation about judgements made in applying
ccounting policies have been consistently applied
A
accounting policies that have the most significant effects
except where a newly issued accounting standard is
on the amounts recognized in the financial statements is
initially adopted or a revision to an existing accounting
included in the following notes:
standard requires a change in the accounting policy
hitherto in use. Note 3(a) – Revenue Recognition
B. Functional and Presentation currency ote 3(b) – Classification of financial assets; assessment
N
of business model within which the assets are held and
Indian Rupee (₹) is the Company’s functional currency
assessment of whether the contractual terms of financial
and the currency of the primary economic environment
assets are solely payment of principal and interest on
in which the Company operates. Accordingly, the
principal amount outstanding.
management has presented the financial statements in
Indian Rupees (₹). All amounts have been rounded-off ote 3(f) – Whether an arrangement contains a lease;
N
to the nearest lakhs upto two decimal places, unless assessment of lease term.
otherwise indicated.
164
Assumptions and estimation uncertainties Black Scholes model to determine the fair value

Information about assumptions and estimation of the options granted. Estimating the fair value of
uncertainties that have a significant risk of resulting in a the share options granted require determination
material adjustment in the year ending 31 March 2023 of the most appropriate valuation model, which
are discussed below: is dependent on the terms and conditions of the
grant. This estimate also requires determination
(i) Fair value measurement of financial instruments of the most appropriate inputs to the valuation
hen the fair value of financial assets and financial
W model including the expected life of the share
liabilities recorded in the balance sheet cannot be option, volatility and dividend yield and making
derived from active markets, their fair value is assumptions about them. The assumptions and
determined using valuation techniques including models used for estimating the fair value for the
the discounted cash flow model. The inputs to these share based payment transactions are disclosed
models are taken from observable markets where in Note 36.
possible. Where this is not feasible, a degree of
judgement is required in establishing fair values. (vi) Defined benefit plans
The judgement includes considerations of inputs T he obligation from defined benefit plan is
such as liquidity risk, credit risk and volatility. Details determined using actuarial valuations. An actuarial
about fair value measurements are disclosed in valuation involves making assumptions that may
Note 35. differ from actual developments in the future. These
include the determination of the discount rate,
(ii) Impairment of financial assets future salary increases and mortality rates. Due
The Company estimates lifetime expected credit to the complexities involved in the valuation and
loss allowance is computed based on historical its long term nature, a defined benefit obligation is
payment patterns, customer credit worthiness and highly sensitive to changes in these assumptions.
customer concentrations, adjusted for forward All assumptions are reviewed at each reporting
looking information on collection. Details about the date. Details about the defined benefit obligations
expected credit loss allowance are disclosed in are disclosed in Note 26.
Note 35.
(vii) Provisions and contingencies
(iii) Impairment of non-financial assets
The Company estimates the provisions that have
The determination of recoverable amounts of the present obligations as a result of past events,
cash generating units assessed in an impairment and it is probable that outflow of resources will be
test requires the Company to estimate their fair required to settle the obligations. These provisions
values net of disposal costs as well as their value- are reviewed at the end of each reporting date and
in-use. The assessment of value-in-use requires are adjusted to reflect the current best estimates.
assumptions to be made with respect to the
operating cash flows of the cash generating unit as he Company uses significant judgement to
T
well as discount rates. disclose contingent liabilities. Contingent liabilities
are disclosed when there is a possible obligation
(iv) Useful life and residual value of property, plant arising from past events, the existence of which
and equipment and intangible assets will be confirmed only by the occurrence or non-
Useful lives of property, plant and equipment are occurrence of one or more uncertain future events
taken as prescribed in Schedule II of the Act. In not wholly within the control of the Company or
case of intangible assets, useful life is estimated a present obligation that arises from past events
by management taking into account the nature of where it is either not probable that an outflow of
the asset and the estimated usage of the asset. resources will be required to settle the obligation,
Residual value is estimated by management at the or a reliable estimate of the amount cannot be
time the asset is acquired and reviewed periodically, made. Contingent assets are neither recognised
including at each financial year end. nor disclosed in the financial statements.
(v) Share based payments (viii) Impairment of investment in subsidiaries

he Company initially measures the cost of equity
T he Company reviews its carrying value of
T
settled transactions with employees using the investments carried at cost (net of impairment, if
165
any) annually, or more frequently when there is - Level 1: quoted prices (unadjusted) in active
indication for impairment. If the recoverable amount markets for identical assets or liabilities.
is less than its carrying amount, the impairment loss
- evel 2: inputs other than quoted prices included
L
is accounted for in the statement of profit and loss.
in Level 1 that are observable for the asset or
liability, either directly (i.e. as prices) or indirectly
The determination of recoverable amounts of the
(i.e. derived from prices).
cash generating units (subsidiaries) assessed in an
impairment test requires the Company to estimate - Level 3: inputs for the asset or liability that are not
their fair values net of disposal costs as well as based on observable market data (unobservable
their value-in-use. The assessment of value-in-use inputs).
requires assumptions to be made with respect to
the operating cash flows of the cash generating unit When measuring the fair value of an asset or a liability,
(subsidiaries) as well as discount rates. the Company uses observable market data as far as
possible. If the inputs used to measure the fair value
(ix) Income taxes of an asset or a liability fall into different levels of the
fair value hierarchy, then the fair value measurement
The Company establishes provisions based on
is categorised in its entirety in the same level of the fair
reasonable estimates, for possible consequences of
value hierarchy as the lowest level input that is significant
assessment by the tax authorities of the jurisdiction in
to the entire measurement.
which it operates. The amount of provision is based
on various factors such as experience of previous F. Standards issued but not effective
tax assessments and differing interpretations of tax
Ministry of Corporate Affairs (“MCA”) notifies new
laws by the taxable entity and the responsible tax
standard or amendments to the existing standards.
authority. The Company assesses the probability of
There is no such notification which would have been
litigation and subsequent cash outflow with respect
applicable from April 1, 2023.
to taxes.
G. Classification of assets and liabilities as
deferred tax asset is recognized to the extent that it
A
current and non-current
is probable that future taxable profit will be available
he Company presents assets and liabilities in
T
against which the deductible temporary differences
the balance sheet based on current/ non-current
and tax losses can be utilized. Accordingly, the
classification.
Company exercises its judgement to reassess the
carrying amount of deferred tax assets at the end An asset is treated as current when it is:
of each reporting period.
xpected to be realized or intended to be sold or
E
E. Measurement of fair values consumed in normal operating cycle,
air value is the price that would be received from

F Held primarily for the purpose of trading,
sale of an asset or paid to transfer a liability in an xpected to be realized within twelve months after
E
orderly transaction between market participants at the the reporting period, or
measurement date. The fair value measurement is
based on the presumption that the transaction to sell ash or cash equivalent unless restricted from
C
the asset or transfer the liability takes place either: being exchanged or used to settle a liability for at
least twelve months after the reporting period.
In the principal market for the asset or liability; or
All other assets are classified as non-current.
In the absence of a principal market, in the most
advantageous market for the asset or liability. A liability is current when:
he principal or most advantageous market must be

T It is expected to be settled in normal operating
accessible to/ by the Company. cycle,
It is held primarily for the purpose of trading,
air values are categorised into different levels in a fair
F
value hierarchy based on the inputs used in the valuation It is due to be settled within twelve months after the
techniques as follows. reporting period, or
166
here is no unconditional right to defer the

T obligation except for those contracts where revenue is
settlement of the liability for at least twelve months dependent on the number of resources deployed.
after the reporting period.
ecoverables represent expenses incurred in relation
R
All other liabilities are classified as non-current. to services performed that are allocated and recovered
from the customers based on the agreed terms and
eferred tax assets and liabilities are classified as non-
D
conditions.
current assets and liabilities.
II) Recognition of dividend income, interest
he operating cycle is the time between the acquisition
T
income or expense and gains or losses from
of assets for processing and their realisation in cash and
cash equivalents. The Company has identified twelve
financial instruments
months as its operating cycle. (i) Dividend Income
ividend income is recognized in the Statement of
D
3. SIGNIFICANT ACCOUNTING POLICIES Profit and Loss on the date on which the Company’s
a) Revenue right to receive dividend is established.
The Company recognizes revenue from contracts with
customers based on the principles set out in Ind AS 115, (ii) Interest Income
Revenue from Contracts with Customers, to determine Interest income or expense is recognized using the
when to recognize revenue and at what amount. effective interest rate method. The ‘effective interest
rate’ is the rate that exactly discounts estimated
evenue is measured at fair value of the consideration
R future cash payments or receipts through the
received or receivable as per contractual terms. expected life of the financial instrument to
Revenue is recognized when the Company satisfies
a performance obligation by transferring a promised - he gross carrying amount of the financial
T
good or service (i.e., an asset) to a customer and it is asset; or.
highly probable that a significant reversal of revenue is - The amortized cost of the financial liability.
not expected to occur. An asset is transferred when the
customer obtains control of that asset. In calculating interest income and expense, the
effective interest rate is applied to the carrying
If the consideration promised in a contract includes a amount of the asset (when the asset is not credit
variable amount, the Company estimates the amount impaired) or to the amortized cost of the liability.
of consideration to which it will be entitled in exchange However, for financial assets that have become
for rendering the promised services to a customer. credit-impaired subsequent to initial recognition,
The amount of consideration can vary because of
interest income is calculated by applying the
discounts, credits, price concessions or other similar
effective interest rate to the amortized cost of
items. Revenues are shown net of taxes and applicable
the financial asset. If the asset is no longer credit
discounts and allowances.
impaired, then the calculation of interest income
reverts to the gross basis. Interest income / expense
he company primarily generates revenue by
T
providing registrar and transfer agent services to asset on financial instruments at FVTPL is not included in
management companies and technology enabled fair value changes but presented separately.
service to private equity fund, bank and non-banking
financial services sectors. (iii) Realized and unrealized gain / loss
he realized gains / losses from financial
T
evenue recognition for different heads of income are
R instruments at FVTPL represents the difference
as under: between original cost of purchase and its settlement
I) Revenue from rendering of services price. The unrealized gains / losses represents
evenue from data processing services and customer
R the difference between the carrying amount of a
care services is recognized on an accrual basis in financial instrument at the beginning of the period,
accordance with the agreements entered with asset or the transaction price if it was purchased in the
management companies. The Company has adopted the current reporting period, and its carrying amount at
output method to measure progress of each performance the end of the reporting period.
167
b) Financial Instruments of the instrument. This includes assessing whether the

Financial assets and financial liabilities are recognized financial asset contains a contractual term that could
when the company becomes a party to the contractual change the timing or amount of contractual cash flows
provisions of the instruments. All financial instruments such that it would not meet this condition. In making this
are recognized initially at fair value, except for trade assessment, the Company considers:
receivables which are initially measured at transaction − ontingent events that would change the amount
C
price. Transaction costs that are attributable to the or timing of cash flows;
acquisition of the financial asset (other than financial
assets recorded at fair value through profit or loss) − Terms that may adjust the contractual coupon rate,
are included in the fair value of the financial assets. including variable interest rate features;
Purchase or sales of financial assets that require delivery − Prepayment and extension features; and
of assets within a time frame established by regulation or
− Terms that limit the Company’s claim to cash flows
convention in the market place (regular way trade) are
from specified assets.
recognized on the trade date.
I) Financial assets

or the purpose of subsequent measurement, financial
F
instruments of the company are classified in the following (i) Financial assets at amortized cost
categories: A financial asset shall be measured at amortized
cost if both of the following conditions are met:
(i) Financial assets at amortized cost,
The financial asset is held within a business
(ii) inancial assets (debt instruments) at fair value
F model whose objective is to hold financial
through other comprehensive income (FVTOCI), assets in order to collect contractual cash
flows and
(iii) E
quity instruments at FVTOCI and fair value
through profit and loss account (FVTPL), the contractual terms of the financial asset give
rise on specified dates to cash flows that are
(iv) Financial liabilities at amortized cost or FVTPL. solely payments of principal and interest on
the principal amount outstanding (SPPI).
he classification of financial instruments depends on
T
the objective of the business model for which it is held. They are presented as current assets, except
Management determines the classification of its financial for those maturing later than 12 months after the
instruments at initial recognition. reporting date which are presented as non-current
assets. Financial assets are measured initially at
Business model assessment fair value plus transaction costs and subsequently
The Company makes an assessment of the objective carried at amortized cost using the effective interest
of the business model in which a financial asset is held method, less any impairment loss.
at a portfolio level because this best reflects the way
the business is managed, and information is provided to
Amortized cost are represented by investment in
management. interest bearing debt instruments, trade receivables,
security deposits, cash and cash equivalents,
Assessment whether contractual cash flows are employee and other advances and eligible current
solely payments of principal and interest and non-current assets. Any gain or loss on
or the purposes of this assessment, ‘principal’ is
F derecognition is recognized in the Statement of
defined as the fair value of the financial asset on initial Profit and Loss.
recognition. ‘Interest’ is defined as consideration for the
time value of money and for the credit risk associated ash and cash equivalents comprise cash on hand
C
with the principal amount outstanding during a particular and in banks and demand deposits with banks with
period of time and for other basic lending risks and costs original maturity less than 3 months which can be
(e.g. liquidity risk and administrative costs), as well as withdrawn at any time without prior notice or penalty
a profit margin. In assessing whether the contractual on the principal. For the purposes of the cash flow
cash flows are solely payments of principal and statement, cash and cash equivalents include cash
interest, the Company considers the contractual terms on hand and cash in banks.
168
(ii) Financial asset at FVTOCI indication of impairment exists, the carrying amount
debt instrument shall be measured at fair value
A of the investment is assessed and written down
through other comprehensive income if both of the immediately to its recoverable amount. On disposal
following conditions are met: of investments in subsidiaries, the difference
between net disposal proceeds and the carrying
he objective of the business model is
T amount are recognized in the Statement of Profit
achieved by both collecting contractual cash or Loss.
flows and selling financial assets and
(v) Financial assets at FVTPL
the asset’s contractual cash flow represent
SPPI debt instruments included within VTPL is a residual category for financial assets.
F
FVTOCI category are measured initially as Any financial asset which does not meet the
well as at each reporting period at fair value criteria for categorization as at amortized cost or
plus transaction costs. as FVTOCI, is classified as FVTPL. In addition
the Company may elect to designate the financial

Fair value movements are recognized in Other asset, which otherwise meets amortized cost or
Comprehensive Income (“OCI”). However, the FVTOCI criteria, as FVTPL if doing so eliminates or
Company recognises interest income, impairment significantly reduces a measurement or recognition
losses & reversals and foreign exchange gain loss inconsistency.
in Profit or Loss. On derecognition of the asset,
II) Financial liabilities
cumulative gain or loss previously recognized in
OCI is reclassified from OCI to profit and loss. (i) Financial liabilities at amortized cost
Interest earned is recognized under the expected inancial liabilities at amortized cost represented by
F
interest rate (EIR) model. trade and other payables are initially recognized at
fair value, and subsequently carried at amortized

Currently the Company has not classified any cost using the effective interest method. Interest
interest bearing debt instrument under this category expense and foreign exchange gains and losses
are recognized in the Statement of Profit or Loss.
(iii) Equity instruments at FVTOCI and FVTPL Any gain or loss on derecognition is also recognized
ll equity instruments are measured at fair
A in the Statement of Profit or Loss.
value other than investment in subsidiaries, joint
(ii) Financial liabilities at FVTPL
venture and associate. Equity instruments held
for trading are classified as FVTPL. For all other A financial liability is classified as at FVTPL if it is
equity instruments, the Company may make an classified as held for trading, or it is designated as
irrevocable election to present subsequent changes such on initial recognition. Financial liabilities at
in the fair value in OCI. The Company makes such FVTPL are measured at fair value and net gains
election on an instrument-by-instrument basis. and losses, including any interest expense, are
recognized in the Statement of Profit or Loss.
If the Company decides to classify an equity
instrument as at FVTOCI, then all fair value III) Derecognition
changes on the instrument, excluding dividend Financial assets
are recognized in OCI which is not subsequently he Company derecognizes a financial asset when
T
recycled to Profit or Loss. the contractual rights to the cash flows from the
financial asset expire, or it transfers the rights to
If the Company decides to classify an equity
receive the contractual cash flows in a transaction
instrument as at FVTPL, then all fair value changes
in which substantially all of the risks and rewards
on the instrument and dividend are recognized in
of ownership of the financial asset are transferred
Profit or Loss.
or in which the Company neither transfers nor
Currently the Company has not classified any equity retains substantially all of the risks and rewards
instrument neither at FVTOCI nor at FVTPL. of ownership and does not retain control of the
financial asset.
(iv) Equity investments in Subsidiaries
Investments in subsidiaries are carried at cost less If the Company enters into transactions whereby
accumulated impairment losses, if any. Where an it transfers assets recognized on its balance sheet
169
but retains either all or substantially all the risks and receive (i.e. all shortfalls), discounted at the original EIR.
rewards of the transferred assets, the transferred When estimating the cash flows, an entity is required to
assets are not derecognized. consider:
ll contractual terms of the financial instrument
A
Financial liabilities
(including prepayment, extension etc.) over the
The Company derecognizes a financial liability expected life of the financial instrument. However,
when its contractual obligations are discharged or in rare cases when the expected life of the financial
cancelled or expired. instrument cannot be estimated reliably, then the
entity is required to use the remaining contractual
he Company also derecognizes a financial
T term of the financial instrument.
liability when its terms are modified and the cash
flows under the modified terms are substantially Cash flows from the sale of collateral held or
different. In this case, a new financial liability based other credit enhancements that are integral to the
on the modified terms is recognized at fair value. contractual terms.
The difference between the carrying amount of the
financial liability extinguished and the new financial resentation of allowance for expected credit losses
P
liability with modified terms is recognized in the in the balance sheet
Statement of Profit or Loss. oss allowances for financial assets measured at
L
amortized cost are deducted from the gross carrying
c) Impairment amount of the assets.
(i)
Financial assets carried at amortized cost and
FVTOCI Write-off
In accordance with Ind AS 109, the Company applies The gross carrying amount of a financial asset is written
Expected Credit Loss (ECL) model for measurement and off (either partially or in full) to the extent that there is no
recognition of impairment loss. The Company follows realistic prospect of recovery. This is generally the case
‘simplified approach’ for recognition of impairment when the Company determines that the debtor does not
loss allowance on trade receivable. The application have assets or sources of income that could generate
of simplified approach does not require the Company sufficient cash flows to repay the amounts subject to the
to track changes in credit risk. Rather, it recognizes write‑off. However, financial assets that are written off
impairment loss allowance based on lifetime ECLs at could still be subject to enforcement activities in order
each reporting date, right from its initial recognition. to comply with the Company’s procedures for recovery
For recognition of impairment loss on other financial of amounts due.
assets and risk exposure, the Company determines
that whether there has been a significant increase in the (ii) Impairment of equity investments measured at cost
credit risk since initial recognition. If credit risk has not Investments are measured at cost are tested for
increased significantly, 12-month ECL is used to provide impairment at the end of each reporting period. Any
for impairment loss. However, if credit risk has increased impairment loss is recognized in the statement of profit
significantly, lifetime ECL is used. If in subsequent period, and loss, if the amount of impairment loss decreases
credit quality of the instrument improves such that there subsequently then the previously recognized impairment
is no longer a significant increase in credit risk since loss is reversed in the statement of profit and loss.
initial recognition, then the entity reverts to recognizing
impairment loss allowance based on 12 month ECL. (iii) Impairment of non-financial assets
Lifetime ECLs are the expected credit losses resulting t each reporting date, the Company reviews the
A
from all possible default events over the expected life of carrying amounts of its non-financial assets (other than
a financial instrument. The 12 month ECL is a portion of deferred tax assets) to determine whether there is any
the lifetime ECL which results from default events that indication of impairment. If any such indication exists,
are possible within 12 months after the reporting date. then the asset’s recoverable amount is estimated. For
impairment testing, assets are grouped together into
Measurement of expected credit losses the smallest group of assets that generates the cash
CL is the difference between all contractual cash flows
E inflows from continuing use that are largely independent
that are due to the Company in accordance with the of the cash inflows of other assets or Cash Generating
contract and all the cash flows that the entity expects to Units (‘CGU’). The recoverable amount of a CGU (or an
170
individual asset) is the higher of its value in use and its If significant parts of an item of property, plant and
fair value less costs to sell. equipment have different useful lives, then they are
accounted for as separate items (major components) of
alue in use is based on the estimated future cash
V property, plant and equipment.
flows, discounted to their present value using a pre-tax
discount rate that reflects current market assessments The cost and related accumulated depreciation are
of time value of money and the risks specific to the CGU eliminated from the financial statements upon sale or
(or the asset). Where it is not possible to estimate the retirement of the asset and the resultant gains or losses
recoverable amount of the individual asset, the Company are recognized in the Statement of Profit and Loss.
estimates the recoverable amount of the CGU to which
the asset belongs. An impairment loss is recognized if ny gain or loss on disposal of an item of property, plant
A
the carrying amount of an asset or CGU exceeds its and equipment is recognized in the Statement of Profit
recoverable amount. or Loss.
Impairment loss in respect of assets except goodwill Subsequent expenditure

is reversed only to the extent that the assets carrying ubsequent expenditure is capitalized only if it is
S
amount does not exceed the carrying amount that probable that the future economic benefits associated
would have been determined, net of depreciation or with the expenditure will flow to the Company.
amortization, if no impairment loss had been recognized
in prior years. A reversal of impairment loss is recognized Depreciation
immediately in the Statement of Profit or Loss. epreciation is calculated on cost of items of property,
D
plant and equipment less their estimated residual values
d) Property, plant and equipment over their estimated useful lives using the written down
Recognition and measurement value method and is recognized in the Statement of
Profit and Loss except assets individually costing less
Items of property, plant and equipment are measured at
than Rupees five thousand which are fully depreciated
cost, which includes capitalized borrowing costs, less
in the year of purchase / acquisition. Freehold land is
accumulated depreciation and accumulated impairment
not depreciated. Depreciation is not recorded on capital
losses, if any.
working-progress until construction and installation is
completed and assets are ready for its intended use.
Cost of an item of property, plant and equipment
comprises its purchase price, including import duties and
he estimated useful lives of items of property, plant and
T
non-refundable purchase taxes, after deducting trade
equipment for the current and comparative periods are
discounts and rebates, any directly attributable cost of
as follows:
bringing the item to its working condition for its intended
use and estimated costs of dismantling and removing the Asset Block Management estimate
item and restoring the site on which it is located. Repairs of useful life
and maintenance costs are recognised in the Statement Building 60 years
of Profit and Loss when incurred. Computers 3 to 6 years
Air Conditioners 15 years
he cost of a self-constructed item of property, plant
T Leasehold Improvements 5 years
and equipment comprises the cost of materials, direct Office Equipment 5 years
labor and any other costs directly attributable to bringing Electrical Fittings 10 years
the item to working condition for its intended use, and Furniture & Fixtures 10 years
estimated costs of dismantling and removing the item
and restoring the site on which it is located. epreciation method, useful lives and residual values
D
are reviewed at each financial year-end and adjusted,
dvances paid towards the acquisition of property, plant
A if appropriate. Based on technical evaluation and
and equipment outstanding at each Balance Sheet date consequent advice, the management believes that its
is classified as capital advances under other non-current estimates of useful lives as given above best represent
assets and the cost of assets not ready to use before the period over which management expects to use
such date are disclosed under ‘Capital work-in-progress’. these assets.
171
epreciation on additions (disposals) is provided on a

D f) Leases
pro-rata basis i.e. from (up to) the date on which asset As a lessee
is ready for use (disposed of).
he Company’s lease asset classes primarily consist of
T
e) Intangible assets leases for land and buildings. The Company assesses
whether a contract contains a lease, at inception of a
Initial recognition and measurement
contract. A contract is, or contains, a lease if the contract
Intangible assets acquired separately are stated at cost conveys the right to control the use of an identified asset
of acquisition net of recoverable taxes, accumulated for a period of time in exchange for consideration. To
amortization and impairment losses, if any. Such assess whether a contract conveys the right to control
costs include purchase price, borrowing cost, and any the use of an identified asset, the Company assesses
cost directly attributable to bringing the asset to its whether:
working condition for the intended use, net charges on
foreign exchange contracts and adjustments arising (i) The contract involves the use of an identified asset
from exchange rate variations attributable to the
intangible assets. (ii) he Company has substantially all of the economic
T
benefits from use of the asset through the period of
esearch costs are expensed as incurred. Software
R the lease and
product development costs are expensed as incurred
unless technical and commercial feasibility of the project (iii) T
he Company has the right to direct the use of the
is demonstrated, future economic benefits are probable, asset.
the company has an intention and ability to complete and
Initial Recognition
use or sell the software, and the costs can be measured
reliably. The costs which can be capitalized include the he company recognises a right-of-use asset and a lease
T
cost of material, direct labour and overhead costs that liability at the lease commencement date. The right-of-
are directly attributable to preparing the asset for its use asset is initially measured at cost, which comprises
intended use. the initial amount of the lease liability adjusted for any
lease payments made at or before the commencement
Subsequent expenditure date, plus any initial direct costs incurred and an estimate
of costs to dismantle and remove the underlying asset or
Subsequent expenditure is capitalised only when it
increases the future economic benefits embodied in the to restore the underlying asset or the site on which it is
specific asset to which it relates. All other expenditure, located, less any lease incentives received.
including expenditure on internally generated goodwill
and brands, is recognized in the Statement of Profit or ertain lease arrangements includes the options to
C
Loss as incurred. extend or terminate the lease before the end of the lease
term. ROU assets and lease liabilities includes these
Amortization options when it is reasonably certain that they will be
exercised.
mortization is calculated to write off the cost of
A
intangible assets less their estimated residual values
Short-term leases and leases of low-value assets
over their estimated useful lives using the straight-line
method and is included in depreciation and amortization he company has elected not to recognise right-of-use
T
in Statement of Profit and Loss. assets and lease liabilities for short term leases that
have a lease term of less than 12 months. The company
he estimated useful lives of items of intangible assets
T recognises the lease payments associated with these
for the current and comparative periods are as follows: leases as an expense on a straight-line basis over the
lease term.
Asset Block Management estimate
of useful life Subsequent Measurement
Software 3 years ight to use assets are subsequently measured at cost
R
less accumulated depreciation and impairment losses.
mortization method, useful lives and residual values are
A ROU assets are depreciated from the commencement
reviewed at the end of each financial year and adjusted date on a straight-line basis over the shorter of the lease
if appropriate. term and useful life of the underlying asset.
172
Lease Modification head lease and the sub-lease separately. It assesses

lease modification is accounted as a separate lease
A the lease classification of a sub-lease with reference to
if the modification increases the scope of the lease by the right-of-use asset arising from the head lease, not
adding the right-of-use one or more underlying assets with reference to the underlying asset. If a head lease
and the consideration for the lease increases by an is a short-term lease to which the Company applies the
amount commensurate with the stand-alone price for exemption described above, then it classifies the sub-
the increase in scope and any appropriate adjustments lease as an operating lease.
to that stand-alone price to reflect the circumstances of
the particular contract. g) Foreign currency transactions
he functional currency and the presentation currency of
T
or a lease modification that is not a separate lease,
F the Company is Indian Rupees. Transactions in foreign
at the effective date of the modification, the lease currency are recorded on initial recognition using the
liability is remeasured by discounting the revised lease exchange rate at the transaction date. Monetary assets
payments using a revised discount rate at that date. and liabilities denominated in foreign currencies are
For lease modifications that decrease the scope of the translated at the functional currency closing rates of
lease, the carrying amount of the right-of-use asset is exchange at the reporting date. Exchange differences
decreased to reflect the partial or full termination of the arising on the settlement or translation of monetary items
lease, and a gain or loss is recognised that reflects the are recognised in the statement of profit and loss in the
proportionate decrease in scope. For all other lease period in which they arise. Non-monetary assets and
modifications, a corresponding adjustment is made to the liabilities that are measured in terms of historical cost in
right-of-use asset. foreign currencies are not retranslated.
Impairment h) Employee benefits

OU assets are evaluated for recoverability whenever
R
(i) Short-term employee benefits
events or changes in circumstances indicate that their
carrying amounts may not be recoverable. For the Short-term employee benefit obligations are measured
purpose of impairment testing, the recoverable amount on an undiscounted basis and are expensed as the
(i.e. the higher of the fair value less cost to sell and the related service is provided. A liability is recognized for
value-in-use) is determined on an individual asset basis the amount expected to be paid e.g., under short-term
unless the asset does not generate cash flows that are cash bonus, if the Company has a present legal or
largely independent of those from other assets. In such constructive obligation to pay this amount as a result of
cases, the recoverable amount is determined for the past service provided by the employee, and the amount
Cash Generating Unit (CGU) to which the asset belongs. of obligation can be estimated reliably.
Measurement of Lease Liability (ii) Defined contribution plans

he lease liability is initially measured at amortized cost
T defined contribution plan is a post-employment benefit
A
at the present value of the future lease payments. The plan under which an entity pays fixed contributions into
lease payments are discounted using the interest rate a separate entity and will have no legal or constructive
implicit in the lease or, if not readily determinable, using obligation to pay further amounts.
the incremental borrowing rates in the country of domicile
of these leases. Lease liabilities are remeasured with a The Company offers its employees defined contribution
corresponding adjustment to the related ROU asset if plan in the form of provident fund, Superannuation fund
the Company changes its assessment of whether it will and National pension scheme. The Company recognizes
exercise an extension or a termination option. Lease contribution made towards provident fund and national
liability and ROU assets have been separately presented pension scheme in the Statement of Profit and Loss.
in the Balance Sheet and lease payments have been The Company also contributes to Superannuation Fund
classified as financing cash flows. and Pension Fund for its employees who have been
contributing to such funds.
As a lessor
he Company has given on sub-lease some of its
T he Company makes specified monthly contributions
T
premises during the year. When the Company is an towards Government administered provident fund and
intermediate lessor, it accounts for its interests in the national fund scheme.
173
(iii) Defined benefit plans a liability at the present value of the obligation as at the
A defined benefit plan is a post-employment benefit plan Balance Sheet date less fair value of the plan assets
other than a defined contribution plan. out of which the obligations are expected to be settled.
The cost of providing benefits is measured on the basis
or defined benefit plans in the form of gratuity fund,
F of an annual independent actuarial valuation using the
the cost of providing benefits is determined using the projected unit credit method. Remeasurements gains or
projected unit credit method, with actuarial valuations losses are recognized in the Statement of Profit or Loss
being carried out at the end of each annual reporting in the period in which they arise.
period. The contributions made to the fund are recognized
as plan assets. The defined benefit obligation as reduced (v) Share-based payment transactions
by fair value of plan assets is recognized on the Balance he Employee Stock Option Schemes of the company
T
Sheet. provide for grant of options to employees of the Group
to acquire the equity shares of the Company that vest in
hen the calculation results in a potential asset for
W a graded manner and that are to be exercised within a
the Company, the recognized asset is limited to the specified period. Equity-settled share-based payments
present value of economic benefits available in the to employees are measured at the fair value of the equity
form of any future refunds from the plan or reductions instruments at the grant date. The fair value determined
in future contributions to the plan (‘the asset ceiling’). at the grant date of the equity-settled share based
In order to calculate the present value of economic payments is expensed on a straight-line basis over
benefits, consideration is given to any minimum funding the vesting period, based on the Company’s estimate
requirements. of equity instruments that will eventually vest, with a
corresponding increase in equity. At the end of each
emeasurements of the net defined benefit liability,
R reporting period, the Company revises its estimate of
which comprise actuarial gains and losses, the return the number of equity instruments expected to vest. The
on plan assets (excluding interest) and the effect of the impact of the revision of the original estimates, if any, is
asset ceiling (if any, excluding interest), are recognized recognized in the Statement of Profit or Loss such that
in OCI. the cumulative expense reflects the revised estimate,
with a corresponding adjustment to Employee Stock
The Company determines the net interest expense Option Reserve account in Reserves & Surplus.
(income) on the net defined benefit liability (asset) for
the period by applying the discount rate used to measure In respect of options granted to employees of subsidiaries,
the defined benefit obligation at the beginning of the the Company recovers the related compensation cost
annual period to the then-net defined benefit liability from the respective subsidiaries.
(asset), taking into account any changes in the net
defined benefit liability (asset) during the period as a i) Income taxes
result of contributions and benefit payments. Net interest Income tax comprises current and deferred tax. It is
expense and other expenses related to defined benefit recognized in the Statement of Profit or Loss except
plans are recognized in the Statement of Profit or Loss. to the extent that it relates to a business combination
or to an item recognized directly in equity or in other
hen the benefits of a plan are changed or when a plan
W comprehensive income.
is curtailed, the resulting change in benefit that relates
to past service (‘past service cost’ or ‘past service Current tax
gain’) or the gain or loss on curtailment is recognized urrent tax comprises the expected tax payable or
C
immediately in the Statement of Profit or Loss. The receivable on the taxable income or loss for the year
Company recognises gains and losses on the settlement and any adjustment to the tax payable or receivable in
of a defined benefit plan when the settlement occurs. respect of previous years. The amount of current tax
reflects the best estimate of the tax amount expected
(iv) Other long-term employee benefits to be paid or received after considering the uncertainty,
ompensated absences which are not expected to occur
C if any, related to income taxes. It is measured using tax
within twelve months after the end of the period in which rates (and tax laws) enacted or substantively enacted by
the employee renders related service are recognized as the reporting date.
174
urrent tax assets and current tax liabilities are offset

C j) Provisions, Contingent liabilities and
only if there is a legally enforceable right to set off the Contingent assets
recognized amounts, and it is intended to realize the asset provision is recognized if, as a result of a past event, the
A
and settle the liability on a net basis or simultaneously. Company has a present legal or constructive obligation
that can be estimated reliably, and it is probable that an
Deferred tax outflow of economic benefits will be required to settle
eferred tax is recognized using the balance sheet
D the obligation. The amount recognized as a provision is
approach. Deferred tax is recognized in respect of the best estimate of the consideration required to settle
temporary differences between the carrying amounts of the present obligation at the balance sheet date, taking
assets and liabilities for financial reporting purposes and into account the risks and uncertainties surrounding the
the corresponding amounts used for taxation purposes. obligation.
Deferred tax is not recognized for If the effect of the time value of money is material,
emporary differences arising on the initial recognition of
T provisions are determined by discounting the expected
assets or liabilities in a transaction that is not a business future cash flows at a pre-tax rate that reflects current
combination and that affects neither accounting nor market assessment of the time value of money and risks
taxable profit or loss at the time of the transaction. specific to the liability. When discounted, the increase in
provision due to the passage of time is recognized as
eferred income tax asset are recognized to the extent
D finance cost.
that it is probable that taxable profit will be available
against which the deductible temporary differences, and ontingent liabilities are disclosed when there is a
C
the carry forward of unused tax credits and unused tax possible obligation arising from past events, the existence
losses can be utilized. Deferred income tax liabilities are of which will be confirmed only by the occurrence or non-
recognized for all taxable temporary differences. occurrence of one or more uncertain future events not
wholly within the control of the Company or a present
The carrying amount of deferred income tax assets is obligation that arises from past events where it is either
reviewed at each reporting date and reduced to the not probable that an outflow of resources will be required
extent that it is no longer probable that sufficient taxable to settle the obligation or a reliable estimate of the
profit will be available to allow all or part of the deferred amount cannot be made.
income tax asset to be utilized. Deferred income tax
assets and liabilities are measured at the tax rates that A contingent asset is not recognised but disclosed in the
are expected to apply in the period when the asset is financial statements where an inflow of economic benefit
realized or the liability is settled, based on tax rates is probable.
(and tax laws) that have been enacted or substantively
enacted at the reporting date. ommitments includes the amount of purchase order
C
(net of advance) issued to counterparties for supplying
Deferred tax assets and liabilities are offset if there is a / development of assets and amounts pertaining to
legally enforceable right to offset current tax liabilities Investments which have been committed but not called
and assets, and they relate to income taxes levied by for.
the same tax authority but they intend to settle current
tax liabilities and assets on a net basis or their tax assets Provisions, contingent assets, contingent liabilities and
and liabilities will be realised simultaneously. commitments are reviewed at each balance sheet date.
urrent and deferred taxes are recognized in the

C Onerous contracts
Statement of Profit or Loss, except when they relate contract is considered to be onerous when the expected
A
to items that are recognized in other comprehensive economic benefits to be derived by the Company from
income or directly in equity, in which case, the current the contract are lower than the unavoidable cost of
and deferred taxes are also recognized in other meeting its obligations under the contract. The provision
comprehensive income or directly in equity respectively. for an onerous contract is measured at the present
175
value of the lower of the expected cost of terminating equity shares are deemed converted as of the beginning
the contract and the expected net cost of continuing of the period, unless issued at a later date. Dilutive
with the contract. Before such a provision is made, the potential equity shares are determined independently for
Company recognizes any impairment loss on the assets each period presented. The number of equity shares and
associated with that contract. potentially dilutive equity shares are adjusted for bonus
shares, consolidation of shares, etc. as appropriate.
k) Earnings per share
he Company reports basic and diluted earnings per
T l) Cash and cash equivalents
share in accordance with Ind AS 33 on Earnings per ash and cash equivalents are short-term highly liquid
C
share. investments that are readily convertible into cash with
original maturities of three months or less. Cash and
he basic earnings per share is computed by dividing
T cash equivalents consist primarily of cash and deposits
profit after tax attributable to the equity shareholders with banks.
by the weighted average number of equity shares
outstanding during the reporting period. m) Cash flow statement
ash flows are reported using the indirect method,
C
iluted earnings per share is computed by dividing the
D whereby net profit / (loss) before tax is adjusted for
net profit after tax by the weighted average number of the effects of transactions of non-cash nature and any
equity shares considered for deriving basic earnings deferrals or accruals of past of future cash receipts and
per share and also weighted average number of equity payments. The cash flows from operating, investing and
shares that could have been issued upon conversion financing activities of the Company are segregated.
of all dilutive potential equity shares. Dilutive potential
176
Notes Forming Part of the Standalone Ind AS Financial Statement
for the Year Ended March 31, 2023
NOTE 4 : FIXED ASSETS
I. Current year
a) Property Plant and Equipment
In ` Lakhs
Sl. Property, Plant and Gross Block Accumulated Depreciation Net Block
No. Equipment - Owned/ Balance as Additions Disposals/ Balance as Balance as Depreciation Elimination Balance as Balance as Balance as
Acquired at April 1, Adjustments at March 31, at April 1, Expense for on Disposal/ at March 31, at March 31, at March 31,
2022 2023 2022 the year Adjustments 2023 2023 2022
Corporate Overview
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
2 Buildings 503.48 - - 503.48 242.80 12.50 - 255.30 248.18 260.68
3 Plant & Equipment 626.02 59.95 43.03 642.94 285.90 69.54 35.93 319.51 323.43 340.12
4 Furniture & Fixtures 2,075.04 37.86 34.43 2,078.47 1,525.37 156.61 32.33 1,649.65 428.82 549.67
5 Leasehold 429.24 138.11 - 567.35 75.18 197.95 - 273.13 294.22 354.06
Improvements
6 Office equipments 1,179.40 112.81 40.60 1,251.61 913.98 142.00 37.80 1,018.18 233.43 265.42
Statutory Reports
7 Computer 13,109.10 2,134.97 1,036.95 14,207.12 9,618.08 1,669.54 988.82 10,298.80 3,908.32 3,491.02
8 Electrical Fittings 626.70 5.48 6.70 625.48 452.60 46.78 6.31 493.07 132.41 174.10
Total 20,988.19 2,489.18 1,161.71 22,315.66 13,113.91 2,294.92 1,101.19 14,307.64 8,008.02 7,874.28
b) ROU Assets
In ` Lakhs
Sl. Right to use assets Gross Block Accumulated Depreciation Net Block
No. Balance as Additions Disposals/ Balance as Balance as Depreciation Elimination Balance as Balance as Balance as
at April 1, Adjustments at March 31, at April 1, Expense for on Disposal/ at March 31, at March 31, at March 31,

of Assets
1 Right to use assets 11,158.12 2,139.44 272.42 13,025.14 4,785.46 1,915.18 224.44 6,476.20 6,548.95 6,372.66
Total 11,158.12 2,139.44 272.42 13,025.14 4,785.46 1,915.18 224.44 6,476.20 6,548.95 6,372.66
c) Intangible Assets
In ` Lakhs
Sl. Intangible Assets - Gross Block Accumulated Depreciation Net Block
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as Amortisation Elimination Balance as Balance as Balance as
of Assets
1 Software 8,251.20 515.66 - 8,766.86 5,575.21 1,209.40 - 6,784.61 1,982.25 2,675.99
Total 8,251.20 515.66 - 8,766.86 5,575.21 1,209.40 - 6,784.61 1,982.25 2,675.99
177
178
d) Capital Work in Progress
In ` Lakhs
Sl. Particulars Balance as at Balance as at
No. March 31, 2023 March 31, 2022
1 Capital Work in Progress 11.43 16.34
2 Intangible Assets 826.03 -
Total 837.46 16.34
* All of the above are less than one year.
Note : Depreciation and amortisation expense

Particulars For the Year ended
March 31, 2023

(a) Depreciation of Property, Plant and Equipment 2,294.92
(b) Depreciation on Right to use assets 1,915.18
(c) Amortisation of Intangible Assets 1,209.40
Total 5,419.50
II. Previous year

a) Property Plant and Equipments
In ` Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
2 Buildings 503.48 - - 503.48 229.68 13.13 - 242.80 260.68 273.80
3 Plant & Equipment 521.45 158.95 54.37 626.02 270.97 58.85 43.92 285.90 340.12 250.48
4 Furniture & Fixtures 1,926.52 207.85 59.31 2,075.04 1,406.69 168.83 50.14 1,525.37 549.67 519.83
5 Leasehold - 429.24 - 429.24 75.18 - 75.18 354.06 -
Improvements
6 Office equipments 1,023.23 202.31 46.14 1,179.40 849.66 107.10 42.78 913.98 265.42 173.57
7 Computer 10,709.65 2,482.73 83.28 13,109.10 8,082.61 1,614.59 79.12 9,618.08 3,491.02 2,627.04
Total 17,663.89 3,569.76 245.44 20,988.19 11,242.72 2,089.34 218.13 13,113.91 7,874.28 6,421.17
b) ROU Assets
In ` Lakhs
of Assets
Total 9,882.13 1,299.49 23.50 11,158.12 3,072.77 1,733.01 20.32 4,785.46 6,372.66 6,809.36
Corporate Overview
In ` Lakhs
No. Owned/ Acquired Balance as Additions Disposals/ Balance as Balance as Depreciation Elimination Balance as Balance as Balance as
of Assets
Statutory Reports
1 Software 5,780.16 2,471.04 - 8,251.20 4,657.69 917.53 - 5,575.21 2,675.99 1,122.47

Total 5,780.16 2,471.04 - 8,251.20 4,657.69 917.53 - 5,575.21 2,675.99 1,122.47

In ` Lakhs
Sl. Particulars Balance as Balance as
No. at March 31, at March 31,
2022 2021
1 Capital Work in Progress 16.34 -

March 31, 2022
(c) Amortisation of Intangible Assets 917.53
Total 4,739.88
179
Notes forming part of Ind AS financial statements

NOTE 5 : INVESTMENTS
Particulars As at March 31, 2023 As at March 31, 2022
Current Non Current Total Current Non Current Total
In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs
Investments carried at cost
Unquoted Investments
Investment in equity instruments of - 24,251.61 24,251.61 - 22,908.34 22,908.34
subsidiaries
Total - 24,251.61 24,251.61 - 22,908.34 22,908.34
Designated as Fair Value Through
Profit and Loss
Quoted investments
Investments in Government securities - - - - - -
Investments in Mutual fund 23,643.38 - 23,643.38 22,608.40 - 22,608.40
Total 23,643.38 - 23,643.38 22,608.40 - 22,608.40
TOTAL INVESTMENTS CARRYING 23,643.38 24,251.61 47,894.99 22,608.40 22,908.34 45,516.74
VALUE
Investments in Subsidiaries
Holding Cost Holding Cost
(in shares) In ` Lakhs (in shares) In ` Lakhs
CAMS Insurance Repository Services Limited 4,541,670 3,631.35 4,541,670 3,631.35
CAMS Investor Services Private Limited 745,000 2,507.00 745,000 2,507.00
Sterling Software Private Limited 509,461 13,500.00 509,461 13,500.00
CAMS Financial Information services Private Limited 9,899,999 990.00 7,699,999 770.00
CAMS Payments Services Private Limited 24,999,900 2,499.99 24,999,900 2,499.99
Fintuple Technologies Pvt Ltd 447,478 1,123.26 - -
Total 24,251.61 22,908.34
Investments (Other than Subsidiaries)

Holding Fair Value Holding Fair Value
(in units) In ` Lakhs (in units) In ` Lakhs
A. Current
Aditya Birla Sun Life Liquid Direct Growth 1,146,901 4,164.20 745,005 2,556.30
Aditya Birla Sun Life Savings Direct Growth 4 0.02 4 0.02
Axis Liquid Direct Growth 4,412 110.35 4,412 104.31
DSP Liquidity Direct Growth 62,871 2,022.69 148,674 4,524.13
DSP Ultra Short Direct Growth 2 0.07 2 0.07
Franklin India Liquid Direct Growth 3,218 108.83 3,218 102.95
HDFC Liquid Direct Growth 99,219.59 4,388.69 119,177 4,987.24
HDFC Money Market Direct Growth 1.50 0.07 2 0.07
HSBC Cash Direct Growth 58,902 1,320.67 4,393 93.12
ICICI Prudential Liquid Direct Growth 1,093,580 3,643.65 653,947 2,061.61
ICICI Prudential Savings Direct Growth 16 0.08 16 0.07
ICICI Prudential Value Discovery Direct-D 2,923 2.18 2,923 2.11
ICICI Prudential Value Discovery-D 10,191 2.90 10,191 3.04
ICICI Prudential Value Discovery-G 2,182 5.97 2,182 5.53
180


Holding Fair Value Holding Fair Value
(in units) In ` Lakhs (in units) In ` Lakhs
Bandhan Money Manager Direct Plan Growth Option 195 0.07 195 0.07
Kotak Liquid Direct Growth 61,502.34 2,797.38 38,600 1,660.99
L&T Liquid Direct Growth - 5 0.13
L&T Short Term Bond Direct Growth - 8,351,213 1,888.28
Nippon India Liquid Direct Growth 2,005 110.39 2,005 104.40
Nippon India Low Duration Direct Growth 1,667 55.68 1,667 52.82
SBI Liquid Direct Growth 138,960.65 4,896.01 133,462 4,448.39
SBI Magnum Low Duration Direct Growth 2.42 0.07 2 0.07
Sundaram Money Direct Growth 3.22 0.06 3 0.06
Tata Money Market Direct Growth 1.70 0.07 2 0.06
Union Liquid Direct Growth 606 13.16 606 12.44
YES Liquid Fund Direct Growth 10 0.12 10 0.11
Total 23,643.38 22,608.40
NOTE 6 : TRADE RECEIVABLES

Current Non Current Current Non Current
Unsecured, considered good 2,617.70 - 2,250.62 -
Less: Expected Credit loss allowance 105.45 - 95.61 -
Total* 2,512.25 - 2,155.01 -
*The company does not have any relationship with struck off companies for the current period year March 31, 2023 and previous year ended
March 31, 2022
Trade Receivables Ageing

Particulars Outstanding for following periods from due date of payment Total
Less than 6 months 1-2 Years 2-3 years More than
6 months -1 year 3 years
i) Current period
(i) U
ndisputed Trade receivables – 2,248.72 206.51 113.28 54.77 (5.58) 2,617.70
considered good
(ii) U
ndisputed Trade Receivables – - - - - - -
credit impaired
2,248.72 206.51 113.28 54.77 (5.58) 2,617.70
Less: Expected Credit loss allowance 105.45
Total 2,512.25
181

ii) Previous period
(i) U ndisputed Trade receivables – 2,028.09 176.26 57.95 6.96 (18.64) 2,250.62
considered good
(ii) Undisputed Trade Receivables – - - - - - -
credit impaired
2,028.09 176.26 57.95 6.96 (18.64) 2,250.62
Total 2,155.01
NOTE 7 : LOANS AND ADVANCES

Loans and advances to employees
Unsecured considered good 89.48 23.25 64.86 21.30
Total 89.48 23.25 64.86 21.30
NOTE 8 : OTHER FINANCIAL ASSETS

Security deposits
Unsecured considered good 16.16 1,056.35 375.01 953.32
Doubtful 18.69 - 18.69 -
34.85 1,056.35 393.70 953.32
Less: Expected Credit loss on Rental Advances 18.69 - 18.69 -
16.16 1,056.35 375.01 953.32
Interest accrued, but not due on Fixed Deposits with banks 276.48 - 91.31 -
Other receivables
Contractually reimbursable payments - - 0.83 -
Recoverables from subsidiaries towards ESOP & Others 34.31 - 69.58 -
Total 326.95 1,056.35 536.73 953.32
NOTE 9 : CASH AND CASH EQUIVALENTS

Particulars As at As at
March 31, 2023 March 31, 2022
Cash and Bank Balances
Cash on hand 3.20 2.46
Balances with banks
- In current accounts 1,413.73 286.80
Total 1,416.93 289.26
182

NOTE 10 : BANK BALANCES OTHER THAN CASH AND CASH EQUIVALENTS
March 31, 2023 March 31, 2022
Deposits with Bank

- In other deposit accounts 9,995.00 2,177.00
- alances held as margin money or security against borrowings, guarantees
B
83.10 2,033.06
and other commitments
Other earmarked balances with banks
- In ECS Collection 35.28 29.44
- In Stamp Duty Collection 13.25 43.34
Unpaid / Unclaimed Dividends Account * 6,742.39 6,730.26
Total 16,869.02 11,013.10
* Includes an amount of ` 6,719.74 lakhs declared as dividend payable to NSE Investments Ltd during the FY 2020-21. However, the same
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020 and therefore, the specified amount is kept
in a separate bank account.
NOTE 11 : CURRENT TAX ASSETS (NET)

Advance Tax & TDS ( Net of Provision for tax amounting to 1,341.01 - 1,562.30 -
` 64,301.74 Lakhs, 31 March 2022 : ` 55,277.77 Lakhs)
Total 1,341.01 - 1,562.30 -
NOTE 12 : OTHER ASSETS

Capital Advances - 30.62 - 175.35

Advance to suppliers 884.74 - 869.48 -
Accrued Income 8,619.02 - 6,986.24 -
Prepayments 1,604.29 124.20 1,296.82 50.36
Employee benefits assets (net) - - - -
Total 11,108.05 154.82 9,152.54 225.71
183

NOTE 13 : SHARE CAPITAL
Number of Value Number of Value
shares (` in Lakhs) shares (` in Lakhs)
Authorised
Equity shares of ` 10 each with voting rights 50,250,000 5,025.00 50,250,000 5,025.00
Issued
Subscribed and fully paid up
Total issued, subscribed and paid up share capital 48,993,596 4,899.36 48,903,470 4,890.35
Notes:
Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the year:
Particulars Opening ESOP Others Closing
Balance exercised Balance
Equity shares with voting rights
Year Ended March 31, 2023
- Number of shares 48,903,470 90,126 - 48,993,596
- Amount (In ` Lakhs) 4,890.35 9.01 - 4,899.36
- Number of shares 48,791,038 112,432 - 48,903,470
- Amount (In ` Lakhs) 4,879.10 11.25 - 4,890.35
Promoter Holdings
Shares held by promoters at the end of the year % Change
Promoter name No. of Shares % of total shares during the year*
Great Terrain Investment Limited 9,759,730 19.92% -3.79%

* Percentage change has been computed with respect to the number of shares of the company at the beginning of the period.
Shares held by promoters at the beginning of the reporting period

Promoter name No. of Shares % of total shares
Great Terrain Investment Limited 11,615,600 23.75%
Details of shares held by each shareholder holding more than 5% shares:

Equity Shares with Voting Rights As at March 31, 2023 As at March 31, 2022
Number of % holding in Number of % holding in
shares held that class shares held that class
of shares of shares
Great Terrain Investment Limited 9,759,730 19.92% 11,615,600 23.75%
Housing Development Finance Corporation Ltd 2,920,724 5.96% 2,920,724 5.97%
184

NOTE 14 : OTHER EQUITY
March 31, 2023 March 31, 2022
Securities premium account
Opening balance 1,596.11 294.96
Add : Premium on shares issued during the year under ESOP Scheme* 1,244.52 1,301.15
Closing balance 2,840.63 1,596.11
Employee Stock Option Reserve
Opening balance 3,108.35 1,122.69
Add: ESOP amortisation during the year ** 2,672.31 2,534.56
Less: Transferred to Securities premium account on exercise of ESOP options* (537.60) (548.90)
General reserve
Other Comprehensive Income
Opening balance (650.45) (754.73)
OCI recognised during the year (10.56) 104.28
Less: Utilisations / transfers during the year - -
Closing balance (661.01) (650.45)
Surplus / (Deficit) in Statement of Profit and Loss
Add: Profit / (Loss) for the year 27,454.03 28,941.43
Less: Dividend (18,483.43) (18,857.55)
Total 67,906.13 55,566.86

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

185

NOTE 15 : TRADE PAYABLES
Total Outstanding dues to Micro, Small and Medium Enterprises 691.48 577.25
Total Outstanding dues to Others 594.14 - 658.94 -
Claims Payable 350.53 - 518.37 -
Expenses Payable 2,696.66 - 3,065.19 -
Total* 4,332.81 - 4,819.75 -
*The company does not have any relationship with struck off companies for the current period year March 31, 2023 and previous year ended
March 31, 2022
Trade Payable Ageing

Particulars Outstanding for following periods from due date of payment
Less than 1-2 years 2-3 years More than Total
1 year 3 years
i) Current period
(i) MSME 691.48 - - - 691.48
(ii) Others 582.23 4.78 2.35 4.78 594.14
1,273.71 4.78 2.35 4.78 1,285.62
Claims and Expenses Payable 3,047.19
Total 4,332.81

1 year 3 years
ii) Previous period
(i) MSME 577.25 - - - 577.25
(ii) Others 641.51 3.07 10.03 4.33 658.94
1,218.76 3.07 10.03 4.33 1,236.19
Total 4,819.75
NOTE 16 : OTHER FINANCIAL LIABILITIES

Unclaimed / Unpaid dividends* 6,742.38 - 6,730.26 -
Total 6,742.38 - 6,730.26 -
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020.
186

NOTE 17 : OTHER LIABILITIES
Statutory dues
- taxes payable (other than income taxes) 1,573.24 - 1,684.01 -
- Employees and Employer Contributions 265.88 - 229.21 -
Unearned revenue 11.75 - - -
Other payables 100.27 - 102.88 -
Inter Company Payables - - 27.37 -
Others - Money held in trust 43.13 - 70.41 -
Total 1,994.27 - 2,113.88 -
NOTE 18 : PROVISIONS
Provision for employee benefits:
Provision for Gratuity (net) 33.37 290.06 55.63 389.33
Provision for other employee benefits 757.11 - 1,110.92 -
Provision - Others:
Provision for claims - 6,500.00 - 6,500.00
Total 790.48 6,790.06 1,166.55 6,889.33
NOTE 19 : REVENUE FROM OPERATIONS

Particulars Year ended Year ended
March 31, 2023 March 31, 2022
Revenue from rendering of services 92,861.69 86,377.00
Total 92,861.69 86,377.00
Revenue from rendering of services comprises

March 31, 2023 March 31, 2022
Data processing 76,206.74 71,378.79
Customer Care services 6,901.27 6,254.80
Recoverables 3,909.04 3,628.80
Miscellaneous services 5,844.64 5,114.61
Total 92,861.69 86,377.00
187

NOTE 20 : OTHER INCOME
March 31, 2023 March 31, 2022
Interest Income
- On Bank deposits 406.26 197.97
- On Income Tax Refund 201.73 101.73
- On Financial Assets at Amortised Cost 73.09 63.83
Dividend Income
- From Subsidiaries - 2,716.54
- Others 0.49 0.49
Operating lease rental income 216.54 114.24
Net Gain / (Loss) On sale of investments 1,335.30 1,214.80
Net gain/(loss) arising on financial assets designated as at FVTPL (147.03) (485.77)
Miscellaneous Income 17.62 51.76
Gain on termination of lease contracts 11.04 0.70
Total 2,115.04 3,976.29
NOTE 21 : EMPLOYEE BENEFITS EXPENSE

March 31, 2023 March 31, 2022
Salaries and wages, including bonus 21,224.98 18,381.99
Contributions to provident and other funds 2,076.33 1,684.37
Share based payment transactions expenses
- Equity-settled share-based payments 2,437.48 2,318.45
Staff welfare expenses 531.02 539.91
Manpower Charges 3,218.47 4,105.66
Total 29,488.28 27,030.38
NOTE 22 : FINANCE COSTS

March 31, 2023 March 31, 2022
Interest on Lease liabilities 666.64 662.40
Total 666.64 662.40
NOTE 23 : OPERATING EXPENSES

March 31, 2023 March 31, 2022
Service expenses 3,864.50 3,628.80
Data entry charges 871.43 751.08
Customer Service Centre Charges 1,442.03 1,316.23
ECS Processing charges 433.28 240.11
Claims 345.11 127.58
Software expense 8,800.06 7,855.95
Total 15,756.41 13,919.75
188

NOTE 24 : OTHER EXPENSES
March 31, 2023 March 31, 2022
Lease rent 92.47 118.66
Power and fuel 945.66 714.37
Repairs and Maintenance 1,332.35 1,118.47
Insurance 341.18 250.51
Rates and taxes 105.89 67.51
Communication 1,204.37 1,298.38
Travelling and conveyance 764.31 672.64
Printing and stationery 108.16 146.41
Business promotion 221.91 138.93
Expenditure on Corporate Social Responsibility (refer note no. 32) 555.95 445.84
Legal and professional 1,143.62 1,280.43
Payments to auditors (refer note no. 38) 54.99 53.42
Director's Sitting Fees 65.00 65.00
Net (Gain) / loss on foreign currency transactions and translation 0.90 1.13
(Profit) / Loss on fixed assets sold / scrapped / written off 4.56 11.48
(Reversal) / Recognition of Provision for doubtful debts and advances 9.84 (141.46)
Bad trade and other receivables, loans and advances written off - 11.45
Miscellaneous expenses 140.01 163.36
Total 7,091.17 6,416.53
NOTE 25 : CURRENT TAX AND DEFERRED TAX

(a) Income Tax Expense
March 31, 2023 March 31, 2022
Current Tax:
Current Income Tax Charge 9,061.13 8,891.76
Adjustments in respect of prior years (113.09) (190.30)
Deferred Tax - Debit / (Credit)
In respect of current year origination and reversal of temporary differences 152.66 (58.54)
Total 9,100.70 8,642.92
(b) Income Tax on Other Comprehensive Income

March 31, 2023 March 31, 2022
Current Tax
On Items will not be reclassified to Profit and Loss
Remeasurements of defined benefit liabilities / (asset) - Tax (Expenses) / Income 3.55 (35.07)
Total 3.55 (35.07)
189

(c) Deferred Tax
Particulars Year Ended March 31, 2023 Year Ended March 31, 2022
Opening Recognised Closing Opening Recognised Closing
Balance in profit Balance Balance in profit Balance
and Loss and Loss
Tax effect of items constituting
deferred tax liabilities / reversal of
deferred tax liabilities
Property, Plant and Equipment and 1,204.50 47.71 1,252.22 1,296.16 (91.66) 1,204.50
Right to Use Asset
FVTPL financial asset 84.92 (18.89) 66.03 197.03 (112.11) 84.92
Sub Total (A) 1,289.42 28.82 1,318.25 1,493.19 (203.77) 1,289.42
deferred tax assets / reversal of
deferred tax assets
Employee Benefits 220.84 (100.20) 120.64 313.64 (92.80) 220.84
Lease liabilities 1,819.28 78.20 1,897.48 1,837.93 (18.65) 1,819.28
Other Items 261.99 (101.84) 160.16 295.77 (33.80) 261.99
Sub Total (B) 2,302.11 (123.84) 2,178.28 2,447.34 (145.24) 2,302.11
Net Deferred Tax Asset / (Liabilities) 1,012.68 (152.66) 860.02 954.15 58.53 1,012.68
(B-A)
NOTE 26 : EMPLOYEE BENEFITS

(` in Lakhs, unless otherwise stated)
I. Defined Contribution Plans
Provident Fund:
he Company makes contribution towards Provident Fund for its employees. The Company’s contribution is deposited
T
with the Government under the provisions of Employees’ Provident Fund and Miscellaneous Provisions Act 1952. The
contribution made by the Company is at the rate specified under this Act.
Others:

The Company makes contribution for Employee State Insurance and National Pension Scheme for its employees. All such
contributions are deposited with the Government. The Company also contributes to Superannuation Fund and Pension
Fund for its employees who have been contributing to such funds.
uring the year, the Company recognised the following amounts in the Statement of Profit or Loss (included in Note 21 :
D
Employee Benefit Expenses.
Particulars 2022-23 2021-22

Contribution to Provident Fund 797.89 596.49
Contribution to Employee State Insurance 157.66 138.88
Contribution to Superannuation Fund 21.43 20.75
Contribution to Pension Fund 582.31 502.98
Contribution to National Pension Scheme 41.84 30.13
Total 1,601.13 1,289.23
II. Defined Benefit Plans

March 31, 2023 March 31, 2022
Net defined benefit liability / (asset) - Gratuity plan 83.76 65.91
Other long term employee benefits liability / (asset) - leave encashment 111.02 87.40
Total employee benefit liabilities 194.78 153.31
190

The Company has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act 1972. This gratuity plan
entitles an employee, who has rendered at least 5 years of continuous service to gratuity, at the rate of 15 days wages
for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by the
employee concerned.
A. Funding
he gratuity plan is funded by the Company. The funding requirements are based on a separate actuarial valuation
T
within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.
B. Reconciliation of net defined benefit (asset)/ liability

he following table shows a reconciliation from the opening balances to the closing balances for the net defined
T
benefit (asset)/ liability and its components:
Reconciliation of present value of defined benefit obligation:
March 31, 2023 March 31, 2022
Balance at the beginning of the year 2,660.95 2,284.54
Benefits paid (242.89) (169.56)
Current service cost 378.04 338.27
Interest cost 171.51 145.79
Transfer In / (Out) (8.43)
Actuarial (gains)/ losses recognised in OCI
- changes in demographic assumptions (3.91) (7.32)
- changes in financial assumptions (105.92) (10.83)
- experience adjustments 145.38 88.49
Total actuarial (gains)/ losses 35.55 70.34
Balance at the end of the year 3,003.16 2,660.95
March 31, 2023 March 31, 2022
Non-Current 2,562.38 2,285.50
Current 440.78 375.45
Total 3,003.16 2,660.95
Reconciliation of present value of plan assets:

March 31, 2023 March 31, 2022
Contributions paid into the plan 400.00 469.14
Benefits paid (242.89) (169.56)
Expected return on plan assets 167.26 138.49
Transfer In / (Out) - (8.43)
Return on plan assets , excluding amount recognised in net interest
- -
expense
Net defined benefit (asset)/ liability 83.76 65.91
191

C. Expenses recognised
i. In Statement of Profit or Loss
Net interest expense 4.25 7.30
Total 382.29 345.57
ii. Remeasurements recognised in OCI

Actuarial (gains)/ losses on defined benefit obligation 35.55 70.34
Return on plan assets, excluding amount recognised in net
- -
interest expense
Total 35.55 70.34
D. Plan Assets
Plan assets comprise of the following:
March 31, 2023 March 31, 2022
Investment with Insurers 100% 100%
E. Assumptions and Other Details

i. Actuarial assumptions
Principal actuarial assumptions at the reporting date (expressed as weighted averages):
March 31, 2023 March 31, 2022
Discount rate 7.25% 6.45%
Future salary growth 8% for first two year 8% for first two year
(FY23-24 & FY24-25) (FY22-23 & FY23-24)
and 6% thereafter and 6% thereafter
Retirement Age 60 years 60 years
Attrition rate Upto 30 years - 23% Upto 30 years - 23%
31-44 years - 15% 31-44 years - 15%
Above 44 years - 8% Above 44 years - 8%
Mortality rate 100% of IALM 12-14 100% of IALM 12-14
ii. Sensitivity analysis

Particulars Increase Decrease
March 31, 2023
Discount rate (1% movement) 2,829.15 3,197.13
Future salary growth (1% movement) 3,182.25 2,836.12
Attrition rate (1% movement) 3,009.34 2,963.79
Mortality rate (1% movement) 3,003.79 3,002.53
March 31, 2022
Although the analysis does not take into account the full distribution of cash flows expected under the plan, it
provides an approximation of the sensitivity of the assumptions shown.
192

iii. Expected Contribution during the next annual reporting year
The Company’s best estimate of Contribution during the next year is ` 460.20 lakhs
iv. Maturity Profile of Defined Benefit Obligation

As at 31 March 2023, the weighted average duration of the defined benefit obligation was 6 years
Weighted average duration (based on discounted cashflows) Indian Rupees (INR)
1 year 440.79
2 to 5 year 1,512.72
6 to 10 year 1,404.24
More than 10 year 1,768.33
v. Risk associated with Defined benefit Plan

Valuations are performed on certain basic set of pre-determined assumptions and other regulatory framework
which may vary over time. Thus, the Company is exposed to various risks in providing the above gratuity benefit
which are as follows:
Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will

result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the
value of the liability (as shown in financial statements).
Liquidity Risk: This is the risk that the Company is not able to meet the short-term pay-outs. This may arise
due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not
being sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary
increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants
from the rate of increase in salary used to determine the present value of obligation will have a bearing on the
plan’s liability.
Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability.
The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,
1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity pay-outs
(e.g. Increase in the maximum limit on gratuity of ` 20,00,000).
Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of
assets, exposing the Company to market risk for volatilities/fall in interest rate.
Investment Risk: The probability or likelihood of occurrence of losses relative to the expected return on any
particular investment.
III. Other long term employee benefits - Compensated absences (Leave encashment):
A. Funding
he leave encashment plan is funded by the Company. The funding requirements are based on a separate actuarial
T
valuation within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.

The following table shows a reconciliation from the opening balances to the closing balances for the net (asset)/
liability and its components:
Reconciliation of present value of obligation:
193

March 31, 2023 March 31, 2022
Balance at the beginning of the year 639.25 544.21
Benefits paid (492.04) (441.59)
Tranfer In / (Out) (5.45)
Actuarial (gains)/ losses
- changes in demographic assumptions 0.32 5.09
Balance at the end of the year 686.21 639.25
March 31, 2023 March 31, 2022
Non-Current 529.09 517.60
Current 157.12 121.65
Total 686.21 639.25

March 31, 2023 March 31, 2022
Benefits paid (139.30) (100.65)
Return on plan assets, excluding amount recognised in net interest
- -
expense
Net (asset)/ liability 111.02 87.40
Return on plan assets excluding interest income - -
Actuarial (gains)/ losses 385.41 7.98
Total 503.44 508.80
D. Plan Assets
March 31, 2023 March 31, 2022
Funds managed by Insurers 100% 100%
194

March 31, 2023 March 31, 2022
(FY23-24 & FY24-25) (FY22-23 & FY23-24)
31-44 years - 15% 31-44 years - 15%

March 31, 2023
Discount rate (1% movement) 651.00 725.54
Future salary growth (1% movement) 725.42 650.48
Attrition rate (1% movement) 697.88 662.88
Mortality rate (1% movement) 686.29 686.12
March 31, 2022

The Company’s best estimate of Contribution during the next year is ` 277.26 lakhs

As at March 31, 2023, the weighted average duration of the defined benefit obligation was 6 years
1 year 157.12
2 to 5 year 338.58
6 to 10 year 258.90
More than 10 year 368.92
195

aluations are performed on certain basic set of pre-determined assumptions and other regulatory framework
V
which may vary over time. Thus, the Company is exposed to various risks in providing the above leave
encashment liability which are as follows:
Interest Rate risk: The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will

Liquidity Risk: This is the risk that the Company is not able to meet the short-term pay-outs. This may arise
due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not
being sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of salary
increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants
from the rate of increase in salary used to determine the present value of obligation will have a bearing on the
plan’s liability.
Demographic Risk: The Company has used certain mortality and attrition assumptions in valuation of the liability.
The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Asset Liability Mismatching or Market Risk: The duration of the liability is longer compared to duration of
assets, exposing the Company to market risk for volatilities/fall in interest rate.
NOTE 27 : EARNINGS PER SHARE

A. Basic Earnings per share
The calculations of profit attributable to equity shareholders and weighted average number of equity shares outstanding
for calculation of Basic EPS are as follows:
i. Profit or loss attributable to equity shareholders (basic)

March 31, 2023 March 31, 2022
Profit attributable to the equity shareholders 27,454.03 28,941.43
ii. Weighted average number of equity shares (basic)

March 31, 2023 March 31, 2022
Face Value per share in ` 10.00 10.00
Opening Balance 48,903,470 48,791,038
Weighted average number of equity shares issued during the year
59,380 67,970
upon exercise of ESOP
Weighted average number of equity shares for the year 48,962,850 48,859,008
Basic EPS 56.07 59.23
196

B. Diluted Earnings per share
he calculations of diluted earnings per share based on profit attributable to equity shareholders and weighted average
T
number of equity shares outstanding, after adjustment for the effects of all dilutive potential equity shares, are as follows:
i. Profit or loss attributable to equity shareholders (diluted)
March 31, 2023 March 31, 2022
Profit attributable to the equity shareholders (Basic) 27,454.03 28,941.43
Adjustment with respect to dilutive potential equity shares - -
Profit attributable to the equity shareholders (Diluted) 27,454.03 28,941.43
ii. Weighted average number of equity shares (diluted)

March 31, 2023 March 31, 2022
Weighted average number of equity shares (basic) 48,962,850 48,859,008
Dilutive effect of outstanding stock options 316,998 269,981
Weighted average number of equity shares (diluted) for the period 49,279,849 49,128,989
Diluted EPS 55.71 58.91
NOTE 28 : DIVIDEND PER SHARE

March 31, 2023 March 31, 2022
Total Dividend Paid (excluding tax on dividend) (A) 18,483.43 18,857.55
Dividend Tax - -
No of equity shares (B) 4,89,93,596 4,89,03,470
Dividend per share (A/B) 37.75 38.59
The board of directors at its meeting held on 06 May 2023 have proposed a final dividend of ` 12.00 per equity share, subject
to approval by shareholders at ensuing annual general meeting.
NOTE 29 : DISCLOSURES REQUIRED UNDER SECTION 22 OF THE MICRO, SMALL AND MEDIUM
ENTERPRISES DEVELOPMENT ACT, 2006
The Management has identified enterprises which have provided goods and services to the Group and which qualify under the
definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of amounts payable to such enterprises as at March 31, 2023 has been made based
on the information available with the Group. Further, in the view of the Management, the impact of interest, if any, that may be
payable in accordance with the Act is not expected to be material. The Group has not received any claim for interest from any
supplier under this Act.
The information has been determined to the extent such parties have been identified on the basis of information available with
the Group. Auditors have placed reliance on such information provided by the Management.
197

March 31, 2023 March 31, 2022
Principal amount remaining unpaid to MSME suppliers as at the end of the period 691.48 577.25
Interest due on unpaid principal amount to MSME suppliers as at the end of the
- -
period
Amount of interest paid along with the amounts of the payment made to the
- -
MSME suppliers beyond the appointed day
Amount of interest due and payable for the year (without adding the interest under
- -
the Act)
Amount of interest accrued and remaining unpaid as at the end of the period - -
Amount of further interest due and payable even in the succeeding year, until
- -
such date when the interest dues as above are actually paid
NOTE 30 : EXPENDITURE IN FOREIGN CURRENCY

Software License / Consultancy Charges 266.38 55.76
Total 266.38 55.76
NOTE 31 : RELATED PARTIES

A. Names of related parties and nature of relationship:

I. Entities having control/ significant influence/ joint venture relationships:
Particulars Nature of relationship
Great Terrain Investment Limited Shareholder having significant influence over the Company
Harmony River Investment Limited Parent Company of Great Terrain Investment Limited
II. Subsidiaries:
CAMS Insurance Repository Services Limited Wholly owned subsidiary
CAMS Investor Services Private Limited Wholly owned subsidiary
Sterling Software Private Limited Wholly owned subsidiary
CAMS Financial Information Services Private Limited Wholly owned subsidiary
CAMS Payment Services Private Limited Wholly owned subsidiary
Sterling Software (Deutschland) GmbH Wholly owned subsidiary of Sterling Software Private
Limited (Liquidated on 15th Nov 2022)
Fintuple Technologies Pvt Ltd Subsidiary
III. Key Management Personnel (KMP):

Name Designation
Mr Vedanthachari Srinivasa Rangan Non Executive and Non Independent Director
Mr Narendra Ostawal Nominee Director
Mr Sandeep Kagzi Non Executive and Non Independent Director
Mr Anuj Kumar Managing Director
Mr M Somasundaram Chief Financial Officer (upto 31st July 2021)
Mr S R Ramcharan Chief Financial Officer
Mr G Manikandan Company Secretary and Compliance Officer
198

B. Transactions with Related Parties
Particulars Related Parties Year Ended Year Ended
March 31, 2023 March 31, 2022
I. Income
Support services CAMS Insurance Repository Services Limited 107.73 108.20
CAMS Investor Services Private Limited 18.00 18.00
Fintuple Technologies Private Limited 0.02 -
Rental Income CAMS Insurance Repository Services Limited 121.15 110.16
CAMS Investor Services Private Limited 84.69 1.20
CAMS Financial Information Services Private 8.85 1.80
Limited
CAMS Payment Services Private Limited 1.08 1.08
Sterling Software Private Limited 0.77 -
Dividend received CAMS Investor Services Private Limited - 1,341.00
Sterling Software Private Limited - 1,375.54
II. Expenses
Remuneration Mr Anuj Kumar 412.17 373.81
and other short Mr M Somasundaram NA 77.48
term employment Mr S R Ramcharan 203.99 130.89
benefits
Mr G Manikandan 69.63 66.50
Share based Mr Anuj Kumar 643.34 580.15
payments Mr M Somasundaram NA 39.87
Mr S R Ramcharan 212.12 151.73
Software License Sterling Software Private Limited 6,494.22 5,826.67
and Maintenance
Fee
Service Expenses CAMS Investor Services Private Limited - 19.16
Sitting fees paid Mr Vedanthachari Srinivasa Rangan 8.00 8.00
Dividend paid Mr Anuj Kumar 7.55 4.94
Mr M Somasundaram NA 9.89
Mr Vedanthachari Srinivasa Rangan 2.30 2.35
4,032.27 5,456.86
Note :
(a) Information relating to remuneration paid to KMP excludes:
(i) rovision made for gratuity and leave encashment which are based on an actuarial valuation for employees on an overall
p
basis, and
(ii) perquisites on ESOP exercise.
(b) Leave encashment and Gratuity are included to the extent of payouts made to the KMP.”
199

C. Related Party Balances
Particulars Related Parties As at As at
March 31, 2023 March 31, 2022
CAMS Insurance Repository Services Limited 3,631.35 3,631.35
CAMS Investor Services Private Limited 2,507.00 2,507.00
Sterling Software Private Limited 13,500.00 13,500.00
Investment in Equity
CAMS Financial Information Services Private 990.00 770.00
shares
Limited
CAMS Payment Services Private Limited 2,500.00 2,500.00
Fintuple Technologies Private Limited 1,123.26 -
CAMS Insurance Repository Services Limited - 10.03
CAMS Investor Services Private Limited - 1.89
Trade Receivables
CAMS Payment Services Private Limited - 0.11
CAMS Financial Information Services Private Limited - 0.18
Recoverables from / CAMS Financial Information Services Private Limited - (7.53)
(Payables to) subsidairies CAMS Insurance Repository Services Limited - (19.85)
towards Others
Trade Payables Sterling Software Private Limited 550.23 532.66
Accrued Income CAMS Insurance Repository Services Limited 15.03 21.93
Sterling Software Private Limited - 31.27
Expenses Payable
CAMS Investor Services Private Limited - 10.04
No amounts payable to or receivable from related parties have been written off / written back during the year.
All the outstanding balances (payables or receivables) with related parties are unsecured.
All transactions with related parties are on arm’s length basis.
NOTE 32 : CORPORATE SOCIAL RESPONSIBILITY

March 31, 2023 March 31, 2022
Amount required to be spent by the company during the period 554.21 438.80
Amount of expenditure incurred 555.95 445.84
Shortfall at the end of the period - -
Total of previous year shortfall - -
Reason for shortfall - -
Nature of CSR Activities * - -
Details of related party transactions - -
Where a provision is made with respect to a liability incurred by entering into a
contractual obligation, the movement in the provision during the year shall be - -
shown separately
Total 555.95 445.84
* CSR activties are listed below:
(i) Educational and vocational training for economically weaker students, physically and mentally ill students
(ii) Providing personal safety education
(iii) Training for small scale entrepreneurs
(iv) Healthcare services
(v) Assistance to orphanages and old age homes
200

NOTE 33 : LEASES (` in Lakhs, unless otherwise stated)
The Company has entered into operating lease agreements for office spaces and printers/photocopiers.
Office spaces taken on lease (Leasehold improvements):

Office spaces in around 100 locations across India have been taken on lease. Lease payments are made monthly and include
specified amenities. The Company has effective control over these office spaces as the Company will be renovating or building
temporary erections as and when required. The lease term ranges from 11 months to 9 years.
Printers, Photocopiers and others:

The Company has applied the exemption in Ind AS 116 for leases of low value assets and has not applied the new standard for
leases of printers and photocopiers. Also, the consideration paid for such leases include both rental and maintenance charges.
For these leases, the lease expenses are accounted on a straight-line basis (based on actual payments) over the lease term.
During the year, the Company has given some of the premises on sublease basis to its subsidiaries and vice versa. Ind AS 116
requirements have not been applied by treating them as short term leases as the lease term for these contracts are perpetual.
A. Right of Use Assets:

March 31, 2023 March 31, 2022
Additions during the year 2,139.44 1,299.51
Depreciation charge for the year 1,915.18 1,733.01
(Derecognition) / Adjustments during the year (47.97) (3.18)
B. Lease Liability:
March 31, 2023 March 31, 2022
Initial recognition / additions during the year 2,024.83 1,208.51
Interest expenses for the year 666.64 662.4
Lease payments during the year (2,324.91) (1,903.63)
Closing balance 7,574.31 7265.82
C. Amounts recognised in Statement of Profit or Loss:

Interest on lease liabilities 666.64 662.40
Expenses relating to leases of low-value assets and short term leases 92.47 118.66
Depreciation on Right to Use asset 1,915.18 1,733.01
Interest on amortised deposits (73.09) (63.83)
Sublease Income (216.54) (114.24)
Gain or loss on termination of lease 11.04 0.70
Total 2,395.70 2,336.70
D. Amounts recognised in Statement of Cash Flows:

Total cash outflow for leases 2,324.91 1,922.86
201

E. Extension Options
ome leases for office spaces contain extension options exercisable by the Company for an additional period ranging
S
between 11 months to 5 years. Where practicable, the Company seeks to include extension options in new leases to
provide operational flexibility. The extension options held are exercisable only by the Company and not by the lessors. The
Company assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The
Company reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant
changes in circumstances within its control.
I. Definition of a lease
t inception of the contract, the Company assesses whether a contract is, or contains, a lease. Under Ind AS 116, a
A
contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time, in
exchange for consideration.
II. As a lessee

For measuring the lease liabilities, the Company has discounted lease payments using MCLR rate provided by its
bankers, which is 8.00%.
he Company has used the following practical expedients while applying Ind AS 116 to leases previously classified
T
as operating lease:
i. The Company did not recognise Right of Use Assets and liabilities for leases of low value assets (eg. Printers
and photocopiers).
ii. The Company used hindsight when determining lease term.
iii. he Company applied the exemption not to recognise right-of-use assets and liabilities for leases with less than
T
12 months of lease term.
iv. The Company has used a single discount rate to a portfolio of leases with reasonably similar characteristics
III. Maturity analysis of lease liabilities

Less than 1 year 1,652.19 1,588.62
More than 1 year 5,922.12 5,677.22
Total 7,574.31 7,265.84
NOTE 34 : REVENUE
A. Revenue Streams
he Company generates revenue primarily from provision of application/data processing services, customer care services
T
and other allied services to its customers.

March 31, 2023 March 31, 2022
Revenue from Contracts with Customers 92,861.69 86,377.00
Total revenue 92,861.69 86,377.00
202

B. Disaggregation of revenue from contracts with customer
In the following table, revenue from contracts with customers is disaggregated by major service lines, timing of revenue
recognition and primary geographical market.

March 31, 2023 March 31, 2022
I. Major service lines:
- Data processing 76,206.74 71,378.79
- Customer Care services 6,901.27 6,254.80
- Recoverables 3,909.04 3,628.80
- Miscellaneous services 5,844.64 5,114.61
Total 92,861.69 86,377.00
II. Timing of revenue recognition:
- Revenue recognised at a point in time 92,777.76 86,365.90
- Revenue recognised over a period of time 83.93 11.10
Total 92,861.69 86,377.00
III. Primary geographical market:
- India 92,861.69 86,377.00
- Other countries - -
Total 92,861.69 86,377.00
C. Contract Balances
The following table provides information about contract assets and liabilities from contracts with customers.
(i) Contract Assets
March 31, 2023 March 31, 2022
Invoice raised during the period (6,986.24) (5,946.55)
Unbilled revenue recognized during the period 8,619.02 6,986.24
(ii) Contract Liabilities

March 31, 2023 March 31, 2022
Opening balance - 11.10
Invoice raised during the period 27.69 -
Revenue recognized during the period 15.94 11.10
Closing balance 11.75 -
The contract assets primarily relate to the Company’s rights to consideration for work completed but not billed at
the reporting date for services rendered. The contract assets are transferred to receivables when the rights become
unconditional. This usually occurs when the Company issues an invoice to the customer.
he contract liabilities includes income received in advance and pending to be recognized as income since obligation
T
is yet to be performed and invoice raised against unearned revenue.
203

NOTE 35 : FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (IND AS 32 AND 109)
A. Categories of Financial Instruments
I. Financial Assets
March 31, 2023 March 31, 2022
Measured at fair value through profit or loss (FVTPL)
- Investments in mutual funds 23,643.38 22,608.40
Total 23,643.38 22,608.40
March 31, 2023 March 31, 2022
Measured at amortised cost
- Trade receivables 2,512.25 2,155.01
- Cash and Cash Equivalents 1,416.93 289.26
- Bank balances other than cash and cash equivalents 16,869.02 11,013.10
- Investment in subsidiaries at cost 24,251.61 22,908.34
- Loans 112.73 86.16
- Others 1,383.30 1,490.05
Total 46,545.84 37,941.92
II. Financial Liabilities

March 31, 2023 March 31, 2022
- Trade payables 4,332.81 4,819.75
- Unpaid dividend 6,742.38 6,730.26
- Lease liabilities 7,574.31 7,265.84
Total 18,649.50 18,815.85
B. Fair Value Measurement:

The following table shows the carrying amounts and the fair values of financial assets and liabilities, including their levels
in the fair value hierarchy.
Particulars Carrying Amount Fair Value

(In ` Lakhs) (In ` Lakhs)
Financial assets - Level 1 Level 2 Level 3 Total
At FVTPL
March 31, 2023
Financial assets measured at fair value:
- Investments in mutual funds 23,643.38 23,643.38 - - 23,643.38
23,643.38 23,643.38 - - 23,643.38
March 31, 2022
22,608.40 22,608.40 - - 22,608.40
204

Note A) Fair value hierarchy used for Investments in Mutual Funds and Government securities - Level 1. Valuation
technique and key inputs - Quoted Net Asset Value/ Prices in active market.
ote B) The Company has not disclosed the fair values for financial assets such as trade receivables, cash and cash
N
equivalents, other bank balances, loans etc., because their carrying amounts are a reasonable approximation of fair
value.
Note C) The Company has not disclosed the fair values for financial liabilities such as trade payables and lease liabilities
because their carrying amounts are a reasonable approximation of fair value.
There are no transfers between Level 2 and Level 3 during the period.
C. Financial risk management

he Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk
T
management framework. The Company’s business activities are exposed to a variety of financial risks, namely liquidity
risk, credit risk. Risk management policies have been established to identify and analyse the risks faced by the Company,
to set and monitor appropriate risk limits and controls, periodically review and reflect the changes in the policy accordingly.
The Company’s Audit Committee oversees how management monitors compliance with the risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Company.
The Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes review of risk management
controls and procedures and the results of the same are reported to the Audit Committee.
I. Credit Risk:
Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instruments fails to meet
its contractual obligations, and arises principally from the Company’s receivables from customers and cash and cash
equivalents. The carrying amounts of financial assets represent the maximum credit risk exposure. Credit risk encompasses
both the direct risk of default and the risk of deterioration of credit worthiness as well as concentration risk.
a) Loans and Advances

his consists of security deposits and advances given to employees. Security deposits are rental deposits
T
given to lessors and the company assesses deposit balance on a periodical interval and estimated losses are
provided for. The Company also does not expect any losses on the employee advances since they are given
only to permanent employees of the Company.
b) Trade Receivables
he Company’s exposure to credit risk is influenced mainly by the individual characteristics of each customer.
T
However, management also considers the factors that may influence the credit risk of its customer base, including
the default risk of the industry.
he Company establishes an allowance for impairment that represents its expected credit losses in respect of
T
trade and other receivables. The management uses a simplified approach for the purpose of computation of
expected credit losses for trade receivables and an impairment analysis is performed at each reporting date.

The management has established a credit policy under which each new customer is analysed individually for
credit worthiness before the standard payment and delivery terms and conditions are offered. Credit period
varies from customers to customers and it starts from 10 days. The Company review includes external ratings,
customer’s credit worthiness, if they are available, and in some cases, bank references.

The Company’s customer base comprises of various mutual fund houses and corporates having sound financial
condition. An impairment analysis is performed at each reporting date for invoice wise receivables balances.
205

c) Cash and cash equivalents and deposits with banks

Cash and cash equivalents of the Company are held with banks which have high credit rating. The Company
considers that the cash and cash equivalents have low credit risk based on the external credit rating of the
counterparties.
d) Investments in mutual funds

he credit risk for investments in mutual funds is considered as negligible as the counterparties are reputable
T
mutual fund agencies with high external credit ratings.
Financial assets for which loss allowance is measured using lifetime expected credit losses:
March 31, 2023 March 31, 2022
Trade receivables 2,617.70 2,250.62
Security deposits 1,091.20 1,347.02
The movement in the allowance for impairment is as follows:

Particulars Trade Receivables Security Deposits
March 31, March 31, March 31, March 31,
2023 2022 2023 2022
Opening Balance 95.61 182.27 18.69 138.01
Net remeasurement of loss allowance 9.84 (86.66) - (119.32)
Closing balance 105.45 95.61 18.69 18.69
II. Liquidity Risk:

Liquidity risk is the risk that the Company will face in meeting its obligations associated with its financial liabilities that
are settled by delivering cash or other financial assets. The Company’s approach in managing liquidity is to ensure
that it will have sufficient funds to meet its liabilities. In doing this, management considers both normal and stressed
conditions. The Company also monitors the level of expected cash inflows on trade and other receivables together
with expected cash outflows on trade and other payables.
Exposure to liquidity risk:

he following are the remaining contractual maturities of financial liabilities at the reporting date. All amounts are
T
gross and undiscounted except for lease liabilities.
Particulars Carrying Contractual cash flows
Amount Total Less than 1 More than 1
year year
March 31, 2023
Financial liabilities:
- Trade Payables 4,332.81 4,332.81 4,332.81 -
- Unpaid Dividend 6,742.38 6,742.38 6,742.38 -
- Lease Liabilities 7,574.31 7,574.31 1,652.19 5,922.12
18,649.50 18,649.50 12,727.38 5,922.12
March 31, 2022
- Trade Payables 4,819.75 4,819.75 4,819.75 -
- Unpaid Dividend 6,730.26 6,730.26 6,730.26 -
18,815.85 18,815.85 13,138.63 5,677.22
206

he following are the remaining contractual cash flows for financial assets at the reporting date. All amounts are gross
T
and undiscounted.

Amount
Total Less than More than
1 year 1 year
March 31, 2023

Financial assets:
- Trade receivables 2,512.25 2,512.25 2,512.25 -
- Cash and cash equivalents 1,416.93 1,416.93 1,416.93 -
- ank balances other than cash and cash
B 16,869.02 16,869.02 16,869.02 -
equivalents
- Investments * 23,643.38 23,643.38 23,643.38 -
- Loans 112.73 112.73 89.48 23.25
- Other Financial asset 1,383.30 1,383.30 326.95 1,056.35
45,937.61 45,937.61 44,858.01 1,079.60
March 31, 2022
Financial assets:
- Cash and cash equivalents 289.26 289.26 289.26 -
- ank balances other than cash and cash
B 11,013.10 11,013.10 11,013.10 -
equivalents
- Investments * 22,608.40 22,608.40 22,608.40 -
- Loans 86.16 86.16 64.86 21.30
- Other Financial asset 1,490.05 1,490.05 536.73 953.32
37,641.98 37,641.98 36,667.36 974.62
* Investments does not include investment in subsidiaries which are measured at amortized cost
III. Market Risk:

arket risk is the risk of changes in market prices due to foreign exchange rates, interest rates which will affect the
M
Company’s income or the value of its financial instruments. The objective of market risk management is to manage
and control market risk exposures within acceptable parameters, while optimising the return.
(i) Currency Risk:

The functional currency of the Company is INR. The Company has transactions in foreign currency for software
license purchases and consultancy charges, which are denominated in USD. The Company has not entered
into any hedges for currency risk. The Company’s foreign currency exposure is limited and is not material to the
size of its operations.
(ii) Price Risk

Exposure
Price risk is the risk that the value of the financial instrument will fluctuate as a result of changes in market
prices and related market variables including interest rate for investments in debt oriented mutual funds and
debt securities, caused by factors specific to an individual investment, its issuer and market. The Company’s
exposure to price risk arises from diversified investments in mutual funds and classified in the balance sheet at
fair value through profit or loss.
207

Sensitivity Analysis
The table below summarises the impact of increases/decreases of the Net Asset Value (NAV) on the Company’s
investment in Mutual fund and profit for the period. The analysis is based on the assumption that the NAV
increased by 5% or decreased by 5% with all other variables held constant, and that all the Company’s
investments in mutual funds moved in line with the NAV.
Particulars Sensitivity of Profit or loss

As at As at
March 31, 2023 March 31, 2022
NAV - Increase 5% 1,182.17 1,130.42
NAV - decrease 5% (1,182.17) (1,130.42)
(iii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. Interest rates are sensitive to many factors, including governmental, monetary
and tax policies, domestic and international economic and political considerations, fiscal deficits, trade surpluses
or deficits, regulatory requirements and other factors beyond the Company’s control. Changes in the general level
of interest rates can affect the profitability by affecting the spread between, amongst other things, income which
Company receives on investments in debt securities, the value of interest-earning investments, it’s ability to realise
gains from the sale of investments. Interest rate risk primarily arises from floating rate investment. The Company’s
investments in floating rate are primarily short-term, which do not expose it to significant interest rate risk.
NOTE 36 : SHARE-BASED PAYMENTS

A. Description of share-based payment arrangements:
Share option plans (equity settled):
Particulars Batch 1 Batch 2 Batch 3 Batch 4
CXOs Others
Number of options granted 136,651 112,344 433,908 273,148 300,000
Date of grant April 1, 2019 April 1, 2019 September 1, July 29, 2021 April 1, 2022
2020
Vesting period 10% of options 25% of options 25% of options 25% of options 25% of options
at the end of at the end of at the end of at the end of at the end of
year 1; year 1; year 1; year 1; year 1;
10% of options 25% of options 25% of options 25% of options 25% of options
at the end of at the end of at the end of at the end of at the end of
at the year 3; at the end of at the end of at the end of at the end of
and year 3; and year 3; and year 3; and year 3; and
at the year 4. at the end of at the end of at the end of at the end of
year 4. year 4. year 4. year 4.
Exercise price per share (in `) 614.70 614.70 717.80 1,791.40 2,312.35
Exercise period 4 years from 4 years from 4 years from 4 years from 4 years from
vesting date vesting date vesting date vesting date vesting date
Market price per share 717.80 717.80 1,234.00 3,169.30 2,316.00
immediately prior to grant
date (in `)
Intrinsic value per share (in `) 103.10 103.10 516.20 1,377.90 3.65
208

The number of options granted is detailed as below:
CXOs Others
Employees of the Company 136,651 79,636 368,782 250,420 262,981
Employees of CAMS Insurance Repository Services - 10,672 17,576 914 10,243
Limited
Employees of CAMS Finanical Information Services - - 1,965 1,264 3,476
Employees of Sterling Software Private Limited - 22,036 45,585 20,550 23,300
Total 136,651 112,344 433,908 273,148 300,000
B. Measurement of fair values

The fair values of the options issued have been arrived at using the Black Scholes Model.
The key inputs used in measurement of fair values at the grant date of share options are as follows:

CXOs Others
Fair value per share of the option (in `) 355.01 338.40 575.01 1,668.31 559.17
Market price per share immediately prior to grant date (in `) 717.80 717.80 1,234.00 3,169.30 2,316.00
Exercise price 614.70 614.70 717.80 1,791.40 2,312.35
Expected volatility 47.90% 47.70% 18.38% 18.98% 19.45%
Expected life of the option 5.1 years 4.5 years 4.5 years 4.5 years 4 years
Dividend yield 1.80% 1.80% 1.90% 0.84% 1.46%
Risk free interest rate per annum 7.50% 7.30% 5.35% 5.59% 5.99%
Expect volatility and term of the options are based on an evaluation of the historical prices at which the Company’s shares
were acquired by its investors. The expected term of the instruments is based on general option holder behaviour.
C. Reconciliation of outstanding share options:

The number and weighted average exercise prices of share options are as follows:
Batch 1
Weighted Number of Weighted Number of
average options average options
exercise exercise
price price
Outstanding at April 1, 2022 614.70 124,552 614.70 195,363
Granted during the period - - - -
Exercised during the period 614.70 42,142 614.70 42,219
Lapsed during the period 614.70 565 614.70 28,592
Outstanding at March 31, 2023 614.70 81,845 614.70 124,552
Exercisable at March 31, 2023 614.70 28,305 614.70 68,976
209

Batch 2

exercise exercise
price price
Outstanding at April 1, 2022 717.80 309,110 717.80 433,908

Granted during the year - - - -
Exercised during the year 717.80 37,510 717.80 70,212
Lapsed during the year 717.80 10,072 717.80 54,586
Outstanding at March 31, 2022 717.80 261,528 717.80 309,110
Exercisable at March 31, 2023 717.80 86,341 717.80 44,481
Batch 3

exercise exercise
price price
Outstanding at April 1, 2022 1,791.40 264,631 - -

Granted during the year - - 1,791.40 273,148
Exercised during the year 1,791.40 10,474 - -
Lapsed during the year 1,791.40 9,646 1,791.40 8,517
Outstanding at March 31, 2022 1,791.40 244,511 1,791.40 264,631
Exercisable at March 31, 2023 1,791.40 61,638 - -
Batch 4

exercise exercise
price price
Outstanding at April 1, 2022 - - - -

Granted during the year 2,312.35 300,000 - -
Exercised during the year - - - -
Lapsed during the year 2,312.35 27,597 - -
Outstanding at March 31, 2022 2,312.35 272,403 - -
Exercisable at March 31, 2023 2,312.35 - - -
D. Expenses recognised in Statement of Profit or Loss:

For details on the employee benefit expenses, please refer Note 21.
210

NOTE 37 : CAPITAL MANAGEMENT
The Company’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to
sustain future development of the business. The Company monitors the return on capital as well as the level of dividends
on its equity shares. The Company’s objective when managing capital is to maintain an optimal structure so as to maximize
shareholder value.
The Company is fully equity financed which is evident from the capital structure. Further, the Company has always been a net
cash company with cash and bank balances along with investment which is predominantly investment in liquid and short term
mutual funds being far in excess of financial liabilities.
NOTE 38 : REMUNERATION TO AUDITORS

March 31, 2023 March 31, 2022
Statutory Audit Fee 23.00 23.00
Limited Review Audit Fee 11.25 11.25
Tax Audit Fee 5.50 5.50
GST audit Fee 8.75 8.75
Other certifications Fee 5.50 4.57
Reimbursement of Expenses 0.99 0.35
Total 54.99 53.42
NOTE 39 : PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

I. Provision for claims
March 31, 2023 March 31, 2022
Opening Balance 6,500.00 6,500.00
Provision made during the year - -
II. Contingent liabilities and capital commitments (to the extent not provided for)
March 31, 2023 March 31, 2022
Estimated amount of contracts remaining to be executed on capital account
874.34 143.12
and not provided for
Income Tax matters 642.81 299.76
On account of processing errors - 6.49
Others 0.60 1.80
Total 1,517.75 451.17
There are no other amounts required to be disclosed as contingent liabilities on account of pending litigations, other than
the above.
There are no contingent assets resulting from the aforesaid litigation.
211

NOTE 40 : ANALYTICAL RATIOS
No Ratio Numerator Denominator Current Previous % Reason for Variance
period period Variance
a) Current ratio Current Current Liabilities 3.69 2.89 28.02% Due to increase in Bank deposits by
Assets ` 5,868 lakhs.
b) Debt-equity ratio NA
c) Debt service NA
coverage ratio
d) Return on equity Net Profit Average Shareholder's 41.20% 53.88% -23.53% NA *
ratio after tax Equity
e) Inventory turnover NA
ratio
f) Trade receivables Net Credit Average Trade 38.15 35.64 7.05% NA *
turnover ratio Sales Receivables
g) Trade payables Net Credit Average Trade 4.99 4.08 22.23% NA *
turnover ratio Purchases Payables
h) Net capital turnover Net Sales Average working 2.55 3.32 -23.18% NA *
ratio capital
i) Net profit ratio Net Profit Net Sales 29.56% 33.51% -11.76% NA *
j) Return on capital Earnings Shareholders Equity 51.61% 65.05% -20.65% NA *
employed before - Intangible Assets +
interest and Deferred tax liability
taxes
k) Return on investment Income Average of investments 5.27% 4.16% 26.54% Bank deposits and Liquid MF have
generated yielded higher returns during the year.
from
investments
* Reason for variance is not required to be given for any change in the ratio by less than 25% as compared to the preceding year.
NOTE 41 : SEGMENT REPORTING

The Company is in the business of providing data processing and other services to clients which is the primary segment. As
such, the Company’s financial results are largely reflective of the data processing and other services business and accordingly
there are no separate reportable segments as per Ind AS 108 - Operating Segments.
NOTE 42 : ACQUISITION DURING THE YEAR ENDED MARCH 31, 2023

On April 05, 2022, the Company has acquired 54% of stake in “Fintuple Technologies Private Limited” and gained control as
a subsidiary for a consideration of ` 1,123.26 Lakhs.
Fintuple is a provider of digital onboarding services for AIF and PMS investors using a cutting edge technology platform with
E-kyc and other digital capabilities. This has synergies with CAMS existing businesses in the AIF vertical and a common go to
market betweein CAMS and Fintuple will benefit the Group.
At April 05, 2022, the fair value of assets and liabilities acquired have been determined by the Company and accounted for in
accordance with IND AS 103 – “Business Combination”.
NOTE 43 : EVENTS OCCURRING AFTER BALANCE SHEET DATE
On March 05, 2023, the computer Age Management Services Limited, entered into a definitive agreement to acquire 100% of
Think Analytics India Private Limited (along with its subsidiaries) in tranches. Think Analytics India Private Limited (TAIPL) is a
Mumbai based leading provider of advanced analytical solutions. This acquisition is expected to strengthen the Group’s foray
into Account Aggregator and related business in addition to strengthening its analytics capabilities .
212

The First Tranche of payment amounting to ` 4563 lakhs was made on April 04, 2023 resulting in acquisition of 55.42% of the
existing paid up share capital of TAIPL (52% on fully diluted basis) effective from that date.
In accordance with Ind AS10, this Business combination is a Non- Adjusting event and hence no effect has been given in the
financials for the year ending March 31, 2023 . Further, no estimate has been made in the current year (FY23) for any future
payments that may have to be made under this agreement for acquiring the balance holding of TAIPL as the outflow will be
based on the earnings at a future date, which cannot be reasonably estimated presently.
The group incurred acquisition related costs of ` 56.73 lakhs on legal, due diligence and other expenses. These costs have
been included in “Other expenses”
NOTE 44 : IND AS 12 INCOME TAXES
Tax reconciliation is provided below For the Year Ended ended March 31, 2023
Particulars Rate
Tax at Statutory Rate 25.17%
Permanent disallowance of expenses 0.40%
Tax incentives -0.23%
Earlier period tax reversal -0.31%
Indexation benefits on LTCG -0.18%
Reduced tax rate on LTCG 0.05%
Indexation benefits on unrealized CG 0.00%
Total 24.90%
NOTE 45 : LONG TERM CONTRACTS

The Company has not entered into any long term contracts and derivative contracts during the period.
NOTE 46 : OTHER STATUTORY NOTES

The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.
The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or
any other relevant provisions of the Income Tax Act, 1961.
The Company does not have any benami property, where any proceeding has been initiated or pending against the Company
for holding any benami property. Title deeds of immovable property were held in the name of the company.
NOTE 47 : UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM

(A) T
he company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other sources
or kind of funds) to any other persons or entities, including foreign entities (Intermediaries) with the understanding (whether
recorded in writing or otherwise) that the Intermediary shall whether directly or indirectly lend or invest in other persons
or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide any
guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
213

(B) T
he company has not received any fund from any persons or entities, including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the company shall whether directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, “
NOTE 48 : COMPARATIVE FIGURES

Comparative figures have been regrouped/ reclassified wherever necessary to correspond with the current year’s classification
/ disclosure.
NOTE 49 : ROUNDING OFF

All figures reported in the financials statements and related notes are rounded off to nearest lakh.

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-
214
Independent Auditors’ Report
To the Members of Computer Age Management Services 2. BASIS FOR OPINION

Limited, We conducted our audit in accordance with the Standards
on Auditing (SAs) specified under section 143(10) of
Report on the Audit of the Consolidated Ind AS financial
the Companies act, 2013. Our responsibilities under
statements
those Standards are further described in the Auditor’s
1. OPINION Responsibilities for the Audit of the Consolidated Ind
We have audited the accompanying Consolidated Ind AS financial statements section of our report. We are
AS financial statements of Computer Age Management independent of the Group in accordance with the Code
Services Limited (“the Holding Company”), its of Ethics issued by Institute of Chartered Accountants
subsidiary companies (together referred as “the Group”) of India together with the ethical requirements that are
which comprise the Consolidated Balance Sheet as relevant to our audit of the financial statements under
at March 31, 2023 and the Consolidated Statement the provisions of the Companies Act, 2013 and the
of Profit and Loss (including other comprehensive Rules there under, and we have fulfilled our other ethical
income), the Consolidated Cash Flow statement and responsibilities in accordance with these requirements
the statement of changes in Equity for the year then and the Code of Ethics. We believe that the audit
ended, and a summary of significant accounting policies evidence we have obtained is sufficient and appropriate
and other explanatory information (hereinafter referred to provide a basis for our opinion.
to as “Consolidated Ind AS financial statements”).
3. KEY AUDIT MATTERS
In our opinion and to the best of our information and Key audit matters are those matters that, in our
according to the explanations given to us, the aforesaid professional judgment, were of most significance in our
Consolidated Ind AS financial statements give the audit of the consolidated Ind AS financial statements
information required by the Companies Act, 2013 (the of the current period. These matters were addressed
“Act”) in the manner so required and give a true and fair in the context of our audit of the consolidated Ind AS
view in conformity with the accounting principles generally financial statements as a whole, and in forming our
accepted in India, of their consolidated state of affairs of opinion thereon, and we do not provide a separate
the Group as at March 31, 2023, and their consolidated opinion on these matters. We have determined the
profit, their consolidated total comprehensive income, matters described below to be the key audit matter to
their consolidated changes in equity and their be communicated in our report.
consolidated cash flows for the year ended.
215
No.
1. Revenue recognition We evaluated the design of controls and operating effectiveness
The Company generates revenue primarily from data of the relevant key controls with respect to revenue recognition;
processing services, customer care services and other allied We evaluated the appropriateness of recognition of revenue
services to its customers. based on the requirements of Ind AS 115.
Revenue is the most significant account in the Statement of We Performed substantive testing on samples selected for
Profit and Loss. revenue transactions recorded during the year by verifying the
Revenue is recognised in accordance with the agreed terms underlying documentation/ records;
and conditions of the contract with the respective customers We tested and evaluated the general information technology
and when it meets the recognition criteria as per Ind AS 115 controls and key application controls surrounding revenue
on “Revenue from contracts with customers”. recognition;
i) The revenue recognition process of the Company We tested on a sample basis, specific revenue transactions
is dependent on complex information technology recorded before and after the financial year end date to check
systems. revenue recognition in the correct financial period;
ii) There exists a risk of revenue not being recognised: We carried out year on year variance analysis on revenue
a) in proportion to the service performed by the recognised during the year to identify unusual variance;
company We enquired with the key managerial personnel and executives
b) on a basis which is inconsistent with the of the company on the significant matters relating to revenue
contractual terms agreed with the client. recognition; and
c) In a correct period. We evaluated the adequacy of disclosures relating to the
d) considering price revisions/discounts agreed. Revenue recognition in the financial statements.
Hence, we consider this as a Key Audit Matter.
2. Recognition of Claims We obtained and evaluated the company’s accounting policy
in relation to assessing, accounting and disclosure of claims
There are claims raised by Mutual Fund investors, Asset
against the company;
management companies (AMCs) and others against the
company towards processing errors in the course of their We evaluated the design and tested the operating effectiveness
operations giving rise to claims. of the company’s key controls over the identification, estimation,
monitoring and disclosure of claims;
In order to assess the impact of such claims against the

We examined the relevant correspondence with Investors,
company in its financial statements, the management is
AMCs and others to assess developments in claims to identify
required to exercise significant judgement to determine
potentially material cases;
whether an obligation exists as at reporting date requiring
a provision and / or disclosure in the financial statements in
We reviewed the Board and other board level committee
accordance with the criteria set under IND AS 37 - Provisions, meeting minutes to assess the effectiveness of management’s
Contingent Liabilities and Contingent Assets. This involves review controls and conclusions reached;
an estimation, by the management, of the outflow of For the significant provisions made, we evaluated the
economic resources to settle the present obligation. provisioning methodology. We tested the underlying data,
assumptions used and obtained documents which are used
Considering the high degree of judgement involved in
in the determination of the provisions recognised including
estimation and in view of the significance of the claims to
expected claims; and
the overall financial statements, this is considered as a key
audit matter. For cases where a provision was not recognized, we evaluated
the requirements of disclosure in the Ind AS financial
statements.
4. INFORMATION OTHER THAN THE Report and Shareholder’s Information but does not
FINANCIAL STATEMENTS AND AUDITOR’S include the Consolidated Ind AS financial statements
REPORT THEREON and our auditor’s report thereon.

The Holding Company’s Board of Directors is Our opinion on the Consolidated Ind AS Financial
responsible for the preparation of the other information. Statements does not cover the other information and
The other information comprises the information we do not express any form of assurance or conclusion
included in the Management Discussion and Analysis, thereon.
Board’s Report including Annexures to Board’s Report,
Business Responsibility Report, Corporate Governance In connection with our audit of the Consolidated Ind AS
Financial Statements, our responsibility is to read the
216
other information and, in doing so, consider whether to liquidate the Group or to cease operations, or has no
the other information is materially inconsistent with realistic alternative but to do so.
the Consolidated Ind AS Financial Statements or our
knowledge obtained in the audit or otherwise appears The respective Board of Directors of the companies
to be materially misstated. included in the Group are responsible for overseeing
the financial reporting process of the Group.
If, based on the work we have performed, we conclude
that there is a material misstatement of this other
6. AUDITOR’S RESPONSIBILITIES FOR THE
information, we are required to report that fact. We have
AUDIT OF THE CONSOLIDATED IND AS
nothing to report in this regard.
FINANCIAL STATEMENTS
5. RESPONSIBILITIES OF MANAGEMENT FOR Our objectives are to obtain reasonable assurance about
THE CONSOLIDATED IND AS FINANCIAL whether the Consolidated Ind AS financial statements
STATEMENTS as a whole are free from material misstatements,
whether due to fraud or error, and to issue an auditor’s

The Holding Company’s Board of Directors is
report that includes our opinion. Reasonable assurance
responsible for the preparation and presentation of
is a high level of assurance but is not a guarantee
these consolidated Ind AS financial statements in term
that an audit conducted in accordance with SAs will
of the requirements of the Companies Act, 2013 that
always detect a material misstatement when it exists.
give a true and fair view of the consolidated financial
Misstatements can arise from fraud or error and are
position, consolidated financial performance and
considered material if, individually or in the aggregate,
consolidated cash flows of the Group in accordance
they could reasonably be expected to influence the
with the accounting principles generally accepted
economic decisions of users taken on the basis of these
in India, including the Indian Accounting Standards
Consolidated Ind AS financial statements.
specified under section 133 of the Act. The respective
Board of Directors of the companies included in the
As part of an audit in accordance with SAs, we exercise
Group are responsible for maintenance of adequate
professional judgment and maintain professional
accounting records in accordance with the provisions
skepticism throughout the audit. We also:
of the Act for safeguarding the assets of the Group
and for preventing and detecting frauds and other
a)
Identify and assess the risks of material
irregularities; selection and application of appropriate misstatement of the Consolidated Ind AS financial
accounting policies; making judgments and estimates statements, whether due to fraud or error, design
that are reasonable and prudent; and the design, and perform audit procedures responsive to those
implementation and maintenance of adequate internal risks, and obtain audit evidence that is sufficient
financial controls, that were operating effectively for and appropriate to provide abasis for our opinion.
ensuring accuracy and completeness of the accounting The risk of not detecting a material misstatement
records, relevant to the preparation and presentation of resulting from fraud is higher than for one resulting
the financial statements that give a true and fair view from error, as fraud may involve collusion, forgery,
and are free from material misstatement, whether due intentional omissions, misrepresentations, or the
to fraud or error, which have been used for the purpose override of internal control.
of preparation of the consolidated Ind AS financial
statements by the Directors of the Holding Company, as b) Obtain an understanding of internal control relevant
aforesaid. to the audit in order to design audit procedures
that are appropriate in the circumstances. Under
In preparing the consolidated Ind AS financial section 143(3)(i) of the Companies Act, 2013, we
statements, the respective Board of Directors of the are also responsible for expressing our opinion on
companies included in the Group are responsible whether the Holding Company and its subsidiaries
for assessing the ability of the Group to continue as incorporated in India has adequate internal
a going concern, disclosing, as applicable, matters financial controls system in place and the operating
related to going concern and using the going concern effectiveness of such controls.
basis of accounting unless management either intends
217

c)
Evaluate the appropriateness of accounting We also provide those charged with governance
policies used and the reasonableness of with a statement that we have complied with relevant
accounting estimates and related disclosures ethical requirements regarding independence, and
made by management. to communicate with them all relationships and
other matters that may reasonably be thought to
d) Conclude on the appropriateness of management’s bear on our independence, and where applicable,
use of the going concern basis of accounting and, related safe guards.
based on the audit evidence obtained, whether
a material uncertainty exists related to events or
From the matters communicated with those
conditions that may cast significant doubt on the charged with governance, we determine those
ability of the Group to continue as a going concern. matters that were of most significance in the audit
If we conclude that a material uncertainty exists, we of the Consolidated Ind AS financial statements
are required to draw attention in our auditor’s report of the current period and are therefore the key
to the related disclosures in the Consolidated Ind audit matters. We describe these matters in our
AS financial statements or, if such disclosures are auditor’s report unless law or regulation precludes
inadequate, to modify our opinion. Our conclusions public disclosure about the matter or when, in
are based on the audit evidence obtained up to the extremely rare circumstances, we determine that
date of our auditor’s report. However, future events a matter should not be communicated in our report
or conditions may cause the Group to cease to because the adverse consequences of doing so
continue as a going concern. would reasonably be expected to out weight he
public interest benefits of such communication.

e)
Evaluate the overall presentation, structure,
and content of the Consolidated Ind AS financial
7. OTHER MATTERS
statements, including the disclosures, and whether
the Consolidated Ind AS financial statements We did not audit the financial statements of a subsidiary,
represent the underlying transactions and events CAMS Financial Information Services Private Limited,
in a manner that achieves fair presentation. whose financial statements reflect total assets of
` 444.22 lakhs as at March 31, 2023, total revenues of
f) Obtain sufficient appropriate audit evidence ` 18.21 lakhs and net cash inflow amounting to ` 17.62
regarding the financial information of the entities lakhs for the year ended as on date, as considered
or business activities within the Group to express in the consolidated Ind AS financial statements.
an opinion on the Consolidated Ind AS financial These financial statements of the subsidiary have
statements. We are responsible for the direction, been audited by other auditor whose report has been
supervision, and performance of the audit of the furnished to us by the Management and our opinion on
financial statements of such entities included in the Consolidated Ind AS financial statements, in so far
the Consolidated Ind AS financial statements of as it relates to the amounts and disclosures included
which we are the independent auditors. For the in respect of the subsidiary, and our report in terms of
other entities included in the Consolidated Ind AS sub-sections (3) of 143 of the Act, insofar as it relates to
financial statements, which have been audited the aforesaid subsidiary, is based solely on the reports
by other auditors, such other auditors remain of the other auditor
responsible for the direction, supervision, and
performance of the audits carried out by them. We Our conclusion on the Statement is not modified in
remain solely responsible for our audit opinion. respect of the above matter

We communicate with those charged with We did not audit the financial statements of a subsidiary,
governance of the Holding Company and such Sterling Software (Deutschland) GMBH, reflect total
other entities included in the Consolidated Ind assets of ` Nil as at January 2023 31, total revenues
AS financial statements of which we are the of Nil and net cash outflow amounting to ` 3.26 Lakhs
independent auditors regarding, among other for the period ended as on date, as considered in
matters, the planned scope and timing of the the consolidated Ind AS financial statements. The
audit and significant audit findings, including any financial statements of the subsidiary are certified and
significant deficiencies in internal control that we furnished by the Management and our conclusion on
identify during our audit. the statement, in so far as it relates to the amounts
218
and disclosures included in respect of the subsidiary, f)

With respect to the adequacy of internal
is based solely on such certified financial statement. In financial controls over financial reporting of
our opinion and according to the explanation given to us the Group and the operating effectiveness of
by the Management, these financial statements are not such controls, refer to our separate report in
material to the Group. “Annexure A”.
Our conclusion on the Statement is not modified in g)

With respect to the other matters to be
respect of the above matter included in the Auditor’s Report in accordance
with the requirements of section 197 (16) of
8. REPORT ON OTHER LEGAL AND the Act, as amended:
REGULATORY REQUIREMENTS
A. As required by Section143(3) of the Act, we report, In our opinion and to the best of our information
to the extent applicable, that: and according to the explanations given to
us, the remuneration paid by the Group to its
a)
We have sought and obtained all the directors during the year is in accordance with
information and explanations which to the best the provisions of section 197 of the Act.
of our knowledge and belief were necessary
for the purposes of our audit of the afore said h)
With respect to the other matters to be
Consolidated Ind AS financial statements. included in the Auditor’s Report in accordance
with Rule 11 of the Companies (Audit and
b) In our opinion, proper books of account as Auditor’s) Rules, 2014, in our opinion and to
required by law relating to preparation of the best of our information and according to
the aforesaid Consolidated Ind AS financial the explanations given to us:
statements have been kept so far as it
appears from our examination of those books (i)
The Group has disclosed the impact
and the reports of the other auditors. of pending litigations on its financial
position in its Consolidated Ind AS
c)
The Consolidated Balance Sheet, the financial statements – Refer Note 39
Consolidated Statement of Profit and Loss to the Consolidated Ind AS financial
and Total Comprehensive Income, the statements.
Consolidated Statement of Changes in Equity
and the Consolidated Cash Flow Statement (ii) The Group did not have any long-term
dealt with by this Report are in agreement with contracts including derivative contracts
the relevant books of account maintained for for which there were any material
the purpose of preparation of the consolidated foreseeable losses.
Ind AS financial statements.
(iii) The group is not required to transfer any
d)
In our opinion, the aforesaid consolidated amount to the Investor Education and
Ind AS financial statements comply with Protection Fund.
the Accounting Standards specified under
Section 133 of the Act. (iv) (a) The respective Managements of
the Company and its subsidiaries
e) On the basis of the written representations which are companies
received from the directors of the Group as on incorporated in India, whose
March 31, 2023 taken on record by the Board financial statements have been
of Directors of the respective companies, none audited under the Act, has
of the directors of the Group is disqualified represented to us that, to the
as on March 31, 2023 from being appointed best of their knowledge and
as a director in terms of Section164(2) belief, other than as disclosed
of the Act. in the notes to the accounts, no
219
funds have been advanced or (c) Based on such audit procedures

loaned or invested (either from that the we have considered
share premium or any other reasonable and appropriate in the
sources or kind of funds) by circumstances on the Company
the company to or in any other and its subsidiaries which are
persons or entities, including companies incorporated in India
foreign entities (“Intermediaries”), whose financial statements have
with the understanding, whether been audited under the Act,
recorded in writing or otherwise, nothing has come to their notice
that the Intermediary shall, that has caused them to believe
whether, directly or indirectly that the representations made to
lend or invest in other persons us under sub-clause (a) and (b)
or entities identified in any above, contain any material mis-
manner whatsoever by or on statements.
behalf of the company (“Ultimate
Beneficiaries”) or provide any (v) As stated in Note 28 to the consolidated
guarantee, security or the financial statements,
like on behalf of the Ultimate
Beneficiaries. a) The final dividend proposed in
the previous year, declared and
(b) The respective Managements of paid by the Holding Company
the Company and its subsidiaries during the year is in accordance
which are companies with Section 123 of the Act.
incorporated in India, whose
financial statements have been b) The interim dividends declared
audited under the Act, has and paid by the Holding Company
represented to us, that, to the during the year and until the date
best of their knowledge and of this report is in compliance
belief, other than as disclosed with Section 123 of the Act.
in the notes to the accounts, no
funds have been received by the c) The Board of Directors of the
company from any persons or Holding Company have proposed
entities, including foreign entities final dividend for the year which
(“Funding Parties”), with the is subject to the approval of the
understanding, whether recorded members at the ensuing Annual
in writing or otherwise, that the General Meeting. The amount
company shall, whether, directly of dividend proposed is in
or indirectly, lend or invest in other accordance with section 123 of
persons or entities identified in the Act.
any manner whatsoever by or
on behalf of the Funding Party (vi) Proviso to Rule 3(1) of the Companies
(“Ultimate Beneficiaries”) or (Accounts) Rules, 2014 for maintaining
provide any guarantee, security books of account using accounting
or the like on behalf of the software which has a feature of recording
Ultimate Beneficiaries and audit trail (edit log) facility is applicable
to the Company and its subsidiaries with
220
effect from April 1, 2023, and accordingly, included in the consolidated financial statements
reporting under Rule 11(g) of Companies of the Company, to which reporting under CARO is
(Audit and Auditors) Rules, 2014 is not applicable, we report that there are no qualifications
applicable for the financial year ended or adverse remarks in these CARO reports.
March 31, 2023.
For Brahmayya & Co.,
B. With respect to the matters specified in paragraphs Chartered Accountants
3(xxi) and 4 of the Companies (Auditor’s Report) Firm Regn. No.000511S
Order, 2020 (the “Order”/ “CARO”) issued by the
Central Government in terms of Section 143(11) Sd/-
of the Act, to be included in the Auditor’s report, P. Babu
according to the information and explanations Partner
given to us, and based on the CARO reports Place: Chennai. Membership No. 203358
issued by us for the Company and its subsidiaries Date: May 6, 2023 UDIN:
221
“Annexure- A” to the Auditors’ Report

Referred to in Paragraph 8 of Our Report of Even Date
REPORT ON THE INTERNAL FINANCIAL Note require that we comply with ethical requirements and
CONTROLS UNDER CLAUSE (I) OF SUB- plan and perform the audit to obtain reasonable assurance
SECTION 3 OF SECTION143 OF THE about whether adequate internal financial controls over
COMPANIES, ACT, 2013 (“THE ACT”) financial reporting was established and maintained and if
In conjunction with our audit of the Consolidated Ind AS such controls operated effectively in all material respects.
financial statements of the Holding Company as of and for
the year ended March 31, 2023, we have audited the internal Our audit involves performing procedures to obtain audit
financial controls over financial reporting of Computer Age evidence about the adequacy of the internal financial
Management Services Limited (hereinafter referred to as “the controls system over financial reporting and their operating
Holding Company”) and its subsidiary companies, which are effectiveness. Our audit of internal financial controls over
companies incorporated in India (the Holding Company and financial reporting included obtaining an understanding of
its Indian subsidiaries together referred to as “the Group”), internal financial controls over financial reporting, assessing
as of that date. the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of
MANAGEMENT’S RESPONSIBILITY FOR internal control based on the assessed risk. The procedures
INTERNAL FINANCIAL CONTROLS selected depend on the auditor’s judgement, including the
assessment of the risks of material misstatement of the
The respective Board of Directors of the Holding company,
financial statements, whether due to fraud or error.
its subsidiary companies which are incorporated in India,
are responsible for establishing and maintaining internal
We believe that the audit evidence we have obtained, and
financial controls based on the internal control over financial
the audit evidence obtained by the other auditors in terms
reporting criteria established by the Group considering
of their reports referred to in the Other Matters paragraph
the essential components of internal control stated in the
below, is sufficient and appropriate to provide a basis for
our audit opinion on the Group’s internal financial controls
Financial Reporting issued by the Institute of Chartered
system over financial reporting.
Accountants of India (ICAI)”. These responsibilities include
the design, implementation and maintenance of adequate MEANING OF INTERNAL FINANCIAL
internal financial controls that were operating effectively for CONTROLS OVER FINANCIAL REPORTING
ensuring the orderly and efficient conduct of its business,
A group’s internal financial control over financial reporting
including adherence to the respective company’s policies,
is a process designed to provider reasonable assurance
the safeguarding of its assets, the prevention and detection
regarding the reliability of financial reporting and the
of frauds and errors, the accuracy and completeness of the
preparation of financial statements for external purposes in
accounting records, and the timely preparation of reliable
accordance with generally accepted accounting principles.
financial information, as required under the Companies
A company’s internal financial control over financial reporting
Act, 2013.
includes those policies and procedures that (1) pertain to the
AUDITORS’ RESPONSIBILITY maintenance of records that, in reasonable detail, accurately
and fairly reflect the transactions and dispositions of the
Our responsibility is to express an opinion on the Group’s
assets of the company; (2) provide reasonable assurance
internal financial controls over financial reporting based on
that transactions are recorded as necessary to permit
our audit. We conducted our audit in accordance with the
preparation of financial statements in accordance with
generally accepted accounting principles, and that receipts
Financial Reporting (the “Guidance Note”) issued by the ICAI
and expenditures of the company are being made only in
and the Standards on Auditing, issued by ICAI and deemed
accordance with authorisations of management and directors
to be prescribed under section 143(10) of the Companies
of the company; and (3) provide reasonable assurance
Act, 2013, to the extent applicable to an audit of internal
regarding prevention or timely detection of unauthorised
financial controls, both issued by the Institute of Chartered
acquisition, use, or disposition of the company’s assets that
Accountants of India. Those Standards and the Guidance
could have a material effect on the financial statements.
222
INHERENT LIMITATIONS OF INTERNAL controls system over financial reporting and such internal
FINANCIAL CONTROLS OVER FINANCIAL financial controls over financial reporting were operating
REPORTING effectively as at March 31, 2023, based on the internal control
Because of the inherent limitations of internal financial over financial reporting criteria established by the group
controls over financial reporting, including the possibility considering the essential components of internal control
of collusion or improper management override of controls, stated in the Guidance Note on Audit of Internal Financial
material misstatements due to error or fraud may occur and Controls Over Financial Reporting issued by the Institute of
not be detected. Also, projections of any evaluation of the Chartered Accountants of India.
internal financial controls over financial reporting to future
periods are subject to the risk that the internal financial control For Brahmayya & Co.,
over financial reporting may become inadequate because of Chartered Accountants
changes in conditions, or that the degree of compliance with Firm Regn. No.000511S
the policies or procedures may deteriorate.
Sd/-
OPINION P. Babu
In our opinion, the Holding Company and its subsidiary Partner
companies, which are companies incorporated in India, Place: Chennai. Membership No. 203358
have, in all material respects, an adequate internal financial Date: May 6, 2023 UDIN : 23203358BGWEPX3790
223
Consolidated Balance Sheet

as at March 31, 2023
Particulars Note As at As at
No. March 31, 2023 March 31, 2022
A ASSETS
Property, plant and equipment 4 8,618.33 8,122.16
Right of use assets 4 8,297.64 7,244.77
Goodwill 4 14,323.33 13,359.83
Intangible assets 4 2,013.23 2,682.34
Capital Work in Progress 4 880.97 16.34
Financial Assets
- Other financial assets 8 1,281.96 1,152.08
Deferred tax assets 25 1,018.98 1,050.46
Other non-current assets 12 259.52 227.29
Total Non-Current Assets 36,717.21 33,876.57
2 Current assets
Financial Assets
- Investments 5 32,983.44 31,694.77
- Trade Receivables 6 3,302.29 2,554.72
- Other Financial Assets 8 340.68 534.96
- Cash and Cash Equivalents 9 1,639.37 450.89
- Bank Balances other than Cash and Cash Equivalents 10 20,387.29 14,630.37
Current Tax Assets (Net) 11 2,371.48 2,013.77
Other Current Assets 12 11,922.99 9,892.86
Total Current Assets 73,037.85 61,838.72
TOTAL ASSETS 1,09,755.06 95,715.29
B EQUITY AND LIABILITIES
1 Equity
Share Capital 13 4,899.36 4,890.35
Other Equity 14 73,273.10 59,873.43
Equity attributable to owners of the Company 78,172.46 64,763.78
Non-Controlling Interests 74.74 -
Total Equity 78,247.20 64,763.78
2 Non-current liabilities
Provisions 18 7,202.55 7,279.99
Deferred Tax Liabilities 25 129.82 36.12
Total Non-Current Liabilities 14,685.41 13,552.68
- Trade Payables
- Total outstanding dues to micro enterprises and small enterprises 15 157.12 52.20
- Dues to Others 15 4,528.13 4,842.87
- Other Financial Liabilities 16 6,742.38 6,730.26
Other Current Liabilities 17 2,464.86 2,458.68
Provisions 18 947.59 1,352.86
Current Tax Liabilities (Net) 11 10.53 5.01
Total Current Liabilities 16,822.45 17,398.83
Total Liabilities 31,507.86 30,951.51
Total Equity and Liabilities 1,09,755.06 95,715.29

Sd/- Sd/- Sd/- Sd/-
Membership No: 203358 DIN NO: 00142711 DIN NO: 00123338 DIN NO: 08268864
Sd/- Sd/-
224
Consolidated Statement of Profit and Loss

Particulars Note Year ended Year ended
No. March 31, 2023 March 31, 2022
I Revenue from operations 19 97,182.72 90,966.75
II Other income 20 2,681.30 1,727.44
III Total revenue 99,864.02 92,694.19
IV Expenses
Employee benefits expense 21 35,808.18 32,175.22
Finance costs 22 760.75 713.39
Depreciation and amortisation expense 4 6,025.00 5,162.17
Operating expenses 23 11,226.00 9,298.80
Other expenses 24 8,025.36 7,079.79
Total expenses 61,845.29 54,429.37
V Profit before tax 38,018.73 38,264.82
VI Tax expense / (benefit): 25
Current tax 9,543.20 9,762.42
Current tax expense of earlier years (113.09) (190.30)
Net current tax expense 9,430.11 9,572.12
Deferred tax 125.18 (1.99)
Net tax expense 9,555.29 9,570.13
VII Profit for the year 28,463.44 28,694.69
VIII Other Comprehensive Income
Items that will not be reclassified to Profit or Loss
- Remeasurements of the defined benefit liabilities / asset (28.05) 55.81
- Income tax relating to items that will not be reclassified to profit or loss 25 7.06 (14.05)
Items that may be reclassified to Profit or Loss
- Exchange differences in translating the financial statements of foreign 0.03 (0.35)
operations
Total Other Comprehensive Income / (Loss) (net of tax) (20.96) 41.41
IX Total Comprehensive Income for the year 28,442.48 28,736.10
Profit attributable to
- Owners of the Company 28,524.83 28,694.69
- Non-controlling interest (61.39) -
Total Comprehensive Income attributable to
- Owners of the Company 28,503.87 28,736.10
- Non-controlling interest (61.39) -
X Earnings per share: (In ` /-)
(a) Basic 27 58.26 58.73
(b) Diluted 57.88 58.41
XI Dividend per share (par value of ` 10 /- each)
Total Dividend paid 28 18,483.43 18,857.55
Dividend per share (In `) 37.75 38.59
See accompanying notes forming part of the financial statements

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

225
Consolidated Cash Flow Statement

March 31, 2023 March 31, 2022
A. Cash flow from operating activities
Profit / (Loss) before tax 38,018.73 38,264.82
Adjustments for:
Depreciation and amortisation expense 6,025.00 5,162.17
Remeasurements on defined benefit obligation (28.02) 55.46
(Profit) / loss on sale / write off of assets 4.85 12.98
Expense on employee stock option scheme 2,672.31 2,534.56
Finance costs 760.75 713.39
Disputed taxes and Interest 79.49 24.95
Interest income (894.73) (552.74)
Dividend income (0.49) (0.49)
Net (gain) / loss on sale of investments (1,522.36) (1,581.23)
Adjustments to the carrying amount of investments (189.48) 527.75
Expected credit loss (ECL) and Bad debts (Net) 22.62 (182.75)
Unrealised Foreign exhange (Gain)/Loss (0.02) -
(Gain) / loss on lease termination (47.27) (3.45)
(Profits)/Loss attributable to Non controlling interest 61.39 -
Liabilities No Longer payable Written back - (32.01)
Operating profit / (loss) before working capital changes 44,962.77 44,943.40
Changes in working capital:
Adjustments for (increase) / decrease in operating assets:
Trade Receivables (770.16) 419.73
Other Current Assets (2,030.13) (2,351.94)
Other Non-Current Assets (73.64) 1.06
Loans & Advances (25.88) (14.50)
Other Financial Assets 196.22 (132.67)
Change in money held in trust 24.25 1,872.46
Adjustments for increase / (decrease) in operating liabilities:
Trade Payables (245.10) (240.10)
Provisions (482.71) (310.17)
Other Current Liabilities 6.11 (1,255.89)
Cash generated from operations 41,561.73 42,931.38
Net income tax (paid) / refunds (9,652.73) (10,786.33)
Net cash flow from / (used in) operating activities (A) 31,909.00 32,145.05
226
Consolidated Cash Flow Statement

March 31, 2023 March 31, 2022
B. Cash flow from investing activities
Capital expenditure on PPE & intangible assets (4,450.95) (6,225.38)
Proceeds from sale of PPE & intangible assets 58.05 15.79
Bank deposits including margin money deposits (5,769.04) (211.78)
Acquisition of Subsidiary under Business Combination (892.63) -
Purchase / Proceeds from sale of current /non-current investments 423.17 (7,034.56)
Interest received, increase / (decrease) in accrued interest 401.51 368.22
Dividend received 0.49 0.49
Net cash flow from / (used in) investing activities (B) (10,229.40) (13,087.22)
C. Cash flow from financing activities
Proceeds from issue of equity shares under ESOP scheme 715.93 763.50
Principal towards lease liabilities (1,962.87) (1,546.75)
Interest on lease liabilities (760.75) (708.98)
Dividends paid (18,483.43) (18,857.55)
Net cash flow from / (used in) financing activities (C) (20,491.12) (20,349.78)
Net increase / (decrease) in Cash and cash equivalents (A+B+C) 1,188.48 (1,291.96)
Cash and cash equivalents at the begining of the year 450.89 1,742.85
Cash and cash equivalents at the end of the year 1,639.37 450.89

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

227

A. EQUITY SHARE CAPITAL
(1) Current reporting period (Year ended March 31, 2023)
Share Capital due to share capital during the current reporting
current reporting current reporting
prior period errors the current year period
period period
4,890.35 - 4,890.35 9.01 4,899.36
(2) Previous reporting period (Year ended March 31, 2022)

Share Capital due to share capital during the previous reporting
previous reporting previous reporting
prior period errors the previous year period
period period
4,879.10 - 4,879.10 11.25 4,890.35
B. OTHER EQUITY
(1) Current reporting period (Year ended March 31, 2023)
Particulars Reserves and Surplus # Total
Securities Retained ESOP Other General NCI
Income
Balance at the beginning of the 1,596.11 44,790.70 3,108.35 (664.15) 11,042.43 - 59,873.43
Changes in accounting policy - - - - - - -
Restated balance at the 1,596.11 44,790.70 3,108.35 (664.15) 11,042.43 - 59,873.43
beginning of the current
reporting period
Increase in share capital on 1,244.52 - - - - - 1,244.52
scheme*
ESOP Amortisation for the - - 2,672.31 - - - 2,672.31
period**
Amount transferred to - - (537.60) - - - (537.60)
ESOP scheme
Total Comprehensive Income - 28,524.83 - (20.96) - (61.39) 28,442.48
for the current period
Dividends - (18,483.43) - - - - (18,483.43)
Non controlling interest on - - - - - 136.13 136.13
acquisition of subsidiary
Transfer to retained earnings - - - - - - -
Balance at the end of the 2,840.63 54,832.10 5,243.06 (685.11) 11,042.43 74.74 73,347.84
*` 537.60 lakhs pertains to an adjustment from ESOP reserve and balance amounting to ` 706.91 lakhs is realised in cash
228

(2) Previous reporting period (Year ended March 31, 2022)
Securities Retained ESOP Other General NCI
Income
Balance at the beginning of the 294.96 34,953.56 1,122.69 (705.56) 11,042.43 - 46,708.07
Changes in accounting policy - - - - - - -
Restated balance at the 294.96 34,953.56 1,122.69 (705.56) 11,042.43 - 46,708.07
beginning of the previous
reporting period
Increase in share capital on 1,301.15 - - - - - 1,301.15
scheme*
ESOP Amortisation for the - - 2,534.56 - - - 2,534.56
period**
Amount transferred to - - (548.90) - - - (548.90)
ESOP scheme
Total Comprehensive Income - 28,694.69 - 41.41 - - 28,736.10
for the previous period
Dividends - (18,857.55) - - - - (18,857.55)
Balance at the end of the 1,596.11 44,790.70 3,108.35 (664.15) 11,042.43 - 59,873.43
*` 548.90 lakhs pertains to an adjustment from ESOP reserve and balance amounting to ` 752.24 lakhs is realised in cash

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

229
Basis of preparation and significant accounting policies
1. REPORTING ENTITY C. Basis of measurement

Computer Age Management Services Limited (‘CAMS’ The consolidated financial statements have been
or ‘Company’) is India’s largest Mutual Fund Transfer prepared on the historical cost basis except for the
Agency serving over 69% of assets of the Indian following assets and liabilities which have been
mutual fund industry. As an integral part of the India’s measured at fair value:
financial infrastructure, CAMS has built a reputation as
the leading Transfer Agency to the Asset Management (i) Certain financial assets and liabilities,
Industry of India and technology enabled service (ii) Net defined benefit asset / (liability) and
solutions partner to Private Equity Funds, Banks and (iii) Equity settled share-based payments.
Non-Banking Finance Companies.
D. Use of estimates and judgements
The Company was incorporated on May 25, 1988 and
The preparation of the consolidated financial statements
approved to act as Registrar and Transfer Agents to
in conformity with Ind AS requires that management
Asset Management Companies by Securities and
make judgments, estimates and assumptions that affect
Exchange Board of India (SEBI).
the application of accounting policies and the reported
The Company had converted to Public Limited Company amounts of assets, liabilities and disclosures of contingent
with effect from 27th September 2019. The Corporate assets and liabilities as of the date of the consolidated
Identity Number (CIN) issued by Registrar of companies, financial statements and the income and expense for the
Chennai, Tamil Nadu is L65910TN1988PLC015757. reporting period. The Management believes that these
estimates are prudent and reasonable and are based
The consolidated financial statements were approved upon the Management’s best knowledge of current events
by the Company’s Board of Directors on 06th May 2023. and actions as on each reporting date. Actual results
could differ from those estimates. Appropriate changes in
2. BASIS OF PREPARATION estimates are made as the Management becomes aware
A. Statement of Compliance of changes in circumstances surrounding the estimates.
The Consolidated financial statements have been Changes in estimates are reflected in the consolidated
prepared in accordance with Indian Accounting financial statements in the period in which changes are
Standards (Ind AS) as per the Companies (Indian made and, if material, their effects are disclosed in the
Accounting Standards) Rules, 2015 notified under notes to the consolidated financial statements.
Section 133 of Companies Act, 2013, (the ‘Act’) and the
guidelines issued by SEBI. Judgements

Information about judgements made in applying
Accounting policies have been consistently applied accounting policies that have the most significant effects
except where a newly issued accounting standard is on the amounts recognised in the consolidated financial
initially adopted or a revision to an existing accounting statements is included in the following notes:
standard requires a change in the accounting policy
hitherto in use. Note 3(b) – Revenue Recognition
B. Functional and Presentation currency Note 3(c) – Classification of financial assets;

assessment of business model within which the assets
Indian Rupee (`) is the Group’s functional currency
are held and assessment of whether the contractual
and the currency of the primary economic environment
terms of financial assets are solely payment of principal
in which the Group operates. Accordingly, the
and interest on principal amount outstanding
management has presented the consolidated financial
statements in Indian Rupees (`). All amounts have Note 3(g) – Leases: Whether an arrangement contains
been rounded-off to the nearest lakhs upto two decimal
a lease; assessment of lease term
places, unless otherwise indicated.
230
Assumptions and estimation uncertainties (v) Share based payments

Information about assumptions and estimation The Group initially measures the cost of equity
uncertainties that have a significant risk of resulting in settled transactions with employees using the
a material adjustment in the year ending March 31 is Black Scholes model to determine the fair value
included in the following notes: of the options granted. Estimating the fair value of
the share options granted require determination
(i) air
F value measurement of financial of the most appropriate valuation model, which
instruments is dependent on the terms and conditions of the
grant. This estimate also requires determination
When the fair value of financial assets and financial
of the most appropriate inputs to the valuation
liabilities recorded in the balance sheet cannot
model including the expected life of the share
be derived from active markets, their fair value is
option, volatility and dividend yield and making
determined using valuation techniques including
assumptions about them. The assumptions and
the discounted cash flow model. The inputs to
models used for estimating the fair value for the
these models are taken from observable markets
share based payment transactions are disclosed
where possible. Where this is not feasible, a
in Note 36.
degree of judgement is required in establishing fair
values. The judgement includes considerations of (vi) Defined benefit plans
inputs such as liquidity risk, credit risk and volatility.
The obligation from defined benefit plan is
Further details about fair value measurements are
determined using actuarial valuations. An actuarial
disclosed in Note 35.
valuation involves making assumptions that may
differ from actual developments in the future. These
(ii) Impairment of financial assets
include the determination of the discount rate,
The Group estimates Lifetime expected credit future salary increases and mortality rates. Due
loss allowance is computed based on historical to the complexities involved in the valuation and
payment patterns, customer credit worthiness, its long term nature, a defined benefit obligation is
and customer concentrations, adjusted for forward highly sensitive to changes in these assumptions.
looking information on collection. Further details All assumptions are reviewed at each reporting
about the expected credit loss allowance are date. Details about the defined benefit obligations
disclosed in Note 35. are disclosed in Note 26.
(iii) Useful life and residual value of property, plant (vii) Provisions and contingencies
and equipment and intangible assets The Group estimates the provisions that have
Useful lives of property, plant and equipment are present obligations as a result of past events,
taken as prescribed in Schedule II of the Act. In and it is probable that outflow of resources will be
case of intangible assets, useful life is estimated required to settle the obligations. These provisions
by management taking into account the nature of are reviewed at the end of each reporting date and
the asset and the estimated usage of the asset. are adjusted to reflect the current best estimates.
Residual value is estimated by management
at the time the asset is acquired and reviewed The Group uses significant judgement to disclose
periodically, including at each financial year end. contingent liabilities. Contingent liabilities are
disclosed when there is a possible obligation
(iv) Impairment of non-financial assets arising from past events, the existence of which
will be confirmed only by the occurrence or non-
The determination of recoverable amounts of the
occurrence of one or more uncertain future events
cash generating units assessed in an impairment
not wholly within the control of the Group or a
test requires the Group to estimate their fair values
present obligation that arises from past events
net of disposal costs as well as their value-in-
where it is either not probable that an outflow of
use. The assessment of value-in-use requires
resources will be required to settle the obligation, or
assumptions to be made with respect to the a reliable estimate of the amount cannot be made.
operating cash flows of the cash generating unit as Contingent assets are neither recognised nor
well as discount rates. disclosed in the consolidated financial statements.
231
(viii) Income taxes of an asset or a liability fall into different levels of the
The Group establishes provisions based on fair value hierarchy, then the fair value measurement
reasonable estimates, for possible consequences is categorised in its entirety in the same level of the
of assessment by the tax authorities of the fair value hierarchy as the lowest level input that is
jurisdiction in which it operates. The amount of significant to the entire measurement.
provision is based on various factors such as
experience of previous tax assessments and F. Standards issued but not effective
differing interpretations of tax laws by the taxable Ministry of Corporate Affairs (“MCA”) notifies new
entity and the responsible tax authority. The standard or amendments to the existing standards.
Group assesses the probability of litigation and There is no such notification which would have been
subsequent cash outflow with respect to taxes. applicable from April 1, 2023.
A deferred tax asset is recognized to the extent G. Classification of assets and liabilities as
that it is probable that future taxable profit will be current and non-current
available against which the deductible temporary
The Group presents assets and liabilities in the balance
differences and tax losses can be utilized.
Accordingly, the Group exercises its judgement sheet based on current/ non-current classification.
to reassess the carrying amount of deferred tax An asset is treated as current when it is:
assets at the end of each reporting period.
Expected to be realized or intended to be sold or
E. Measurement of fair values consumed in normal operating cycle,
Fair value is the price that would be received from Held primarily for the purpose of trading,
sale of an asset or paid to transfer a liability in an
Expected to be realized within twelve months after
orderly transaction between market participants at the
the reporting period, or
measurement date. The fair value measurement is
based on the presumption that the transaction to sell Cash or cash equivalent unless restricted from
the asset or transfer the liability takes place either: being exchanged or used to settle a liability for at
In the principal market for the asset or liability; or least twelve months after the reporting period.
In the absence of a principal market, in the most All other assets are classified as non-current.
advantageous market for the asset or liability.
A liability is current when:
The principal or most advantageous market must be It is expected to be settled in normal operating
accessible to/ by the Group. cycle,
Fair values are categorised into different levels in a It is held primarily for the purpose of trading
fair value hierarchy based on the inputs used in the It is due to be settled within twelve months after the
valuation techniques as follows. reporting period, or
- Level 1: quoted prices (unadjusted) in active

There is no unconditional right to defer the
markets for identical assets or liabilities.
settlement of the liability for at least twelve months
- Level 2: inputs other than quoted prices included after the reporting period.
in Level 1 that are observable for the asset or
All other liabilities are classified as non-current.
liability, either directly (i.e. as prices) or indirectly
(i.e. derived from prices).
Deferred tax assets and liabilities are classified as non-
- Level 3: inputs for the asset or liability that are not current assets and liabilities.
based on observable market data (unobservable
inputs). The operating cycle is the time between the acquisition
of assets for processing and their realisation in cash
When measuring the fair value of an asset or a liability,
and cash equivalents. The Group has identified twelve
the Group uses observable market data as far as
possible. If the inputs used to measure the fair value months as its operating cycle.
232
3. SIGNIFICANT ACCOUNTING POLICIES vi. CAMS Payment Services Private Limited - The
entity was incorporated with the object of carrying
a) Basis of Consolidation
out the business of payment aggregator. An
Subsidiaries application was made to Reserve Bank of India
Subsidiaries are entities controlled by the Group. The seeking certificate of registration for commencing
Group controls an entity when it is exposed to, or has the business operations.
rights to, variable returns from its involvement with the
vii. Fintuple Technologies Private Limited - The
entity and has the ability to affect those returns through
group has acquired Fintuple Technologies Private
its power over the entity. The financial statements of
Limited, a provider of digital onboarding services
subsidiaries are included in the consolidated financial
for AIF and PMS investors using a cutting edge
statements from the date on which control commences
technology platform with E-kyc and other digital
until the date on which control ceases.
capabilities. This has synergies with the Group’s
existing businesses in the AIF vertical and common
The list of subsidiaries of the Group along with their
go to market will benefit the Group.
business profile:
The financial statements of the aforesaid

i. CAMS Insurance Repository Services Limited
subsidiaries have been consolidated as per Ind AS
- The entity is one of the Insurance Repositories
110 in the Consolidated Financial Statements.
in India licensed by Insurance Regulatory and
Development Authority of India (IRDAI). An Name of the Subsidiaries Country of Proportion
Insurance Repository helps the policy holders to Incorporation of ownership
keep the insurance policies in electronic form. Interest (%)
CAMS Insurance Repository Services Limited is CAMS Insurance Repository India 100.00
also business solution partner for insurers in India. Services Limited
CAMS Investor Services India 100.00
ii. AMS Investor Services Private Limited -
C Private Limited
Promoted by CAMS, the entity uses technology CAMS Financial Information India 100.00
in processing, storing and retrieving of KYC Services Private Limited
documents and interface capabilities with Sterling Software Private India 100.00
intermediaries and other KYC Registration Limited
Sterling Software Germany 100.00
Agencies.
(Deutschland) GmbH *
CAMS Payment Services India 100.00
iii. CAMS Financial Information Services Private
Private Limited
Limited - The entity was incorporated with the
Fintuple Technologies India 54.00
object of carrying out the business of Account
Private Limited
Aggregator services. The entity has received
in-principle approval and the Company is in the *Sterling Software (Deutschland) GmbH, being the immediate
process of taking further step for commencing the subsidiary of Sterling Software Private Limited has been
business. consolidated in the financial statements of ultimate holding
/ parent Company i.e. Computer Age Management Services
iv. terling Software Private Limited - The entity
S Limited.
is a software enterprise based in Chennai, India,
Sterling Software (Deutschland) GmbH has been liquidated on
offering products and services in a range of 15th November 2022.
industries, with its specialty being mutual funds.
Sterling Software is the entity behind the platform / Transactions eliminated on consolidation
product innovations offered by CAMS in the mutual
Intra-group balances and transactions, and any
fund space in India. unrealized income and expenses arising from intra-
group transactions, are eliminated.
v. terling Software (Deutschland) GmbH - The
S
entity is a wholly owned subsidiary of Sterling Non-controlling Interest (NCI)
Software Private Limited incorporated in Germany
NCI are measured at their proportionate share of
and is engaged in the business of providing IT
the acquiree’s net identifiable assets at the date of
Software services and consultancy.
acquisition.
233
Changes in the Group’s equity interest in a subsidiary II)

Recognition of dividend income, interest
that do not result in a loss of control are accounted as income or expense and gains or losses from
equity transactions. financial instruments
(i) Dividend Income
b) Revenue
Dividend income is recognized in the Statement of
The Group recognizes revenue from contracts with Profit and Loss on the date on which the Group’s
customers based on the principles set out in Ind AS 115, right to receive dividend is established.
Revenue from Contracts with Customers, to determine
when to recognize revenue and at what amount. (ii) Interest Income
Interest income or expense is recognized using
Revenue is measured at fair value of the consideration
the effective interest rate method. The ‘effective
received or receivable as per contractual terms.
interest rate’ is the rate that exactly discounts
Revenue is recognized when the Group satisfies a
estimated future cash payments or receipts through
performance obligation by transferring a promised good
the expected life of the financial instrument to
or service (i.e., an asset) to a customer and it is highly
probable that a significant reversal of revenue is not - The gross carrying amount of the financial
expected to occur. An asset is transferred when the asset; or.
customer obtains control of that asset.
- The amortized cost of the financial liability.
If the consideration promised in a contract includes a In calculating interest income and expense, the
variable amount, the Group estimates the amount of effective interest rate is applied to the carrying
consideration to which it will be entitled in exchange amount of the asset (when the asset is not credit
for rendering the promised services to a customer. impaired) or to the amortized cost of the liability.
The amount of consideration can vary because of However, for financial assets that have become
discounts, credits, price concessions or other similar credit-impaired subsequent to initial recognition,
items. Revenues are shown net of taxes and applicable interest income is calculated by applying the
discounts and allowances. effective interest rate to the amortized cost of
the financial asset. If the asset is no longer credit
Revenue recognition for different heads of income are
impaired, then the calculation of interest income
as under: reverts to the gross basis. Interest income /
expense on financial instruments at FVTPL is
I) Revenue from rendering of services:
not included in fair value changes but presented
Revenue from data processing services, customer separately.
care services, software development and support
services are recognized based on agreements (iii) Realized and unrealized gain / loss
entered into with the customers as the services The realized gains / losses from financial
are rendered. Revenue from software application instruments at FVTPL represents the difference
user licenses are recognized on transfer of legal between original cost of purchase and its settlement
title in the user license. In the case of contracts price. The unrealized gains / losses represents
with significant implementation services, revenue the difference between the carrying amount of a
is recognized over the period of the contract. financial instrument at the beginning of the period,
Revenue is recognized only to the extent that it or the transaction price if it was purchased in the
is highly probable that a significant reversal will current reporting period, and its carrying amount at
not occur. the end of the reporting period.
The Group has adopted the output method to
c) Financial Instruments
measure progress of each performance obligation
except for those contracts where revenue is Financial assets and financial liabilities are recognized
dependent on the number of resources deployed. when the group becomes a party to the contractual
provisions of the instruments. All financial instruments
Recoverables represent expenses incurred in are recognized initially at fair value, except for trade
relation to services performed that are allocated receivables which are initially measured at transaction
and recovered from the customers based on the price. Transaction costs that are attributable to the
agreed terms and conditions. acquisition of the financial asset (other than financial
234
assets recorded at fair value through profit or loss) − Prepayment and extension features; and
are included in the fair value of the financial assets.
− Terms that limit the Group’s claim to cash flows
Purchase or sales of financial assets that require
from specified assets.
delivery of assets within a time frame established by
regulation or convention in the market place (regular I) Financial assets
way trade) are recognized on the trade date.
(i) Financial assets at amortized cost
For the purpose of subsequent measurement, financial A financial asset shall be measured at amortized cost if
instruments of the Group are classified in the following both of the following conditions are met:
categories: The financial asset is held within a business model
(i) Financial assets at amortized cost, whose objective is to hold financial assets in order
to collect contractual cash flows and
(ii) Financial assets (debt instruments) at fair value
through other comprehensive income (FVTOCI), the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely
(iii) Equity instruments at FVTOCI and fair value payments of principal and interest on the principal
through profit and loss account (FVTPL), amount outstanding (SPPI).
(iv) Financial liabilities at amortized cost or FVTPL.
They are presented as current assets, except for those
The classification of financial instruments depends maturing later than 12 months after the reporting date
on the objective of the business model for which it is which are presented as non-current assets. Financial
held. Management determines the classification of its assets are measured initially at fair value plus transaction
financial instruments at initial recognition. costs and subsequently carried at amortized cost using
the effective interest method, less any impairment loss.
Business model assessment
Amortized cost are represented by investment in interest
The Group makes an assessment of the objective of bearing debt instruments, trade receivables, security
the business model in which a financial asset is held deposits, cash and cash equivalents, employee and
at a portfolio level because this best reflects the way other advances and eligible current and non-current
the business is managed, and information is provided to assets. Any gain or loss on derecognition is recognized
management. in the Statement of Profit and Loss.
ssessment whether contractual cash flows are

A Cash and cash equivalents comprise cash on hand and
solely payments of principal and interest in banks and demand deposits with banks with original
For the purposes of this assessment, ‘principal’ is maturity less than 3 months which can be withdrawn at
defined as the fair value of the financial asset on initial any time without prior notice or penalty on the principal.
recognition. ‘Interest’ is defined as consideration for the For the purposes of the cash flow statement, cash and
cash equivalents include cash on hand and cash in
time value of money and for the credit risk associated
banks.
with the principal amount outstanding during a particular
period of time and for other basic lending risks and
(ii) Financial asset at FVTOCI
costs (e.g. liquidity risk and administrative costs),
as well as a profit margin. In assessing whether the A debt instrument shall be measured at fair value
contractual cash flows are solely payments of principal through other comprehensive income if both of the
and interest, the Group considers the contractual terms following conditions are met:
of the instrument. This includes assessing whether the The objective of the business model is achieved by
financial asset contains a contractual term that could both collecting contractual cash flows and selling
change the timing or amount of contractual cash flows financial assets and
such that it would not meet this condition. In making this
assessment, the Group considers: The asset’s contractual cash flow represent SPPI
debt instruments included within FVTOCI category
− Contingent events that would change the amount are measured initially as well as at each reporting
or timing of cash flows; period at fair value plus transaction costs.
− Terms that may adjust the contractual coupon rate, Fair value movements are recognized in Other
including variable interest rate features; Comprehensive Income (“OCI”). However, the
235
Group recognises interest income, impairment (ii) Financial liabilities at FVTPL

losses & reversals and foreign exchange gain loss A financial liability is classified as at FVTPL if it is
in Profit or Loss. On derecognition of the asset, classified as held for trading, or it is designated as
cumulative gain or loss previously recognized in OCI such on initial recognition. Financial liabilities at FVTPL
is reclassified from OCI to profit and loss. Interest are measured at fair value and net gains and losses,
earned is recognized under the expected interest rate including any interest expense, are recognized in the
(EIR) model. Statement of Profit or Loss.
Currently the Group has not classified any interest III) Derecognition
bearing debt instrument under this category.
Financial assets
(iii) Equity instruments at FVTOCI and FVTPL The Group derecognizes a financial asset when the
contractual rights to the cash flows from the financial
All equity instruments are measured at fair value
asset expire, or it transfers the rights to receive the
other than investment in subsidiaries, joint venture
contractual cash flows in a transaction in which
and associate. Equity instruments held for trading are
substantially all of the risks and rewards of ownership of
classified as FVTPL. For all other equity instruments,
the financial asset are transferred or in which the Group
the Group may make an irrevocable election to present
neither transfers nor retains substantially all of the risks
subsequent changes in the fair value in OCI. The Group
and rewards of ownership and does not retain control of
makes such election on an instrument-by-instrument
the financial asset.
basis.
If the Group enters into transactions whereby it transfers
If the Group decides to classify an equity instrument as
assets recognized on its balance sheet but retains
at FVTOCI, then all fair value changes on the instrument,
either all or substantially all the risks and rewards of
excluding dividend are recognized in OCI which is not
the transferred assets, the transferred assets are not
subsequently recycled to Profit or Loss.
derecognized.
If the Group decides to classify an equity instrument as
Financial liabilities
at FVTPL, then all fair value changes on the instrument
and dividend are recognized in Profit or Loss. The Group derecognizes a financial liability when its
contractual obligations are discharged or cancelled or
Currently the Group has not classified any equity expired.
instrument neither at FVTOCI nor at FVTPL.
The Group also derecognizes a financial liability when
(iv) Financial assets at FVTPL its terms are modified and the cash flows under the
modified terms are substantially different. In this case,
FVTPL is a residual category for financial assets. Any
a new financial liability based on the modified terms is
financial asset which does not meet the criteria for
recognized at fair value. The difference between the
categorization as at amortized cost or as FVTOCI, is
carrying amount of the financial liability extinguished
classified as FVTPL. In addition the Group may elect
and the new financial liability with modified terms is
to designate the financial asset, which otherwise meets
recognized in the Statement of Profit or Loss.
amortized cost or FVTOCI criteria, as FVTPL if doing
so eliminates or significantly reduces a measurement or
d) Business combinations
recognition inconsistency.

Business combinations are accounted for using
II) Financial liabilities the acquisition accounting method as at the date of
the acquisition, which is the date at which control
(i) Financial liabilities at amortized cost
is transferred to the Company. The consideration
Financial liabilities at amortized cost represented by transferred in the acquisition and the identifiable
trade and other payables are initially recognized at assets acquired and liabilities assumed are recognised
fair value, and subsequently carried at amortized cost at fair values on their acquisition date. Goodwill is
using the effective interest method. Interest expense initially measured at cost, being the excess of the
and foreign exchange gains and losses are recognized aggregate of the consideration transferred and the
in the Statement of Profit or Loss. Any gain or loss on amount recognised for non-controlling interests, and
derecognition is also recognized in the Statement of any previous interest held, over the net identifiable
Profit or Loss.
236
assets acquired and liabilities assumed. The Company All contractual terms of the financial
recognises any non-controlling interest in the acquired instrument (including prepayment, extension
entity on an acquisition-by-acquisition basis either at fair etc.) over the expected life of the financial
value or at the non-controlling interest’s proportionate instrument. However, in rare cases when
share of the acquired entity’s net identifiable assets. the expected life of the financial instrument
Consideration transferred does not include amounts cannot be estimated reliably, then the entity
related to settlement of pre-existing relationships. Such is required to use the remaining contractual
amounts are recognised in the Statement of Profit term of the financial instrument.
and Loss.
Cash flows from the sale of collateral held or
Transaction costs are expensed as incurred, other than other credit enhancements that are integral to
those incurred in relation to the issue of debt or equity the contractual terms.
securities.
Presentation of allowance for expected credit
e) Impairment losses in the balance sheet
(i) Financial assets carried at amortized cost and Loss allowances for financial assets measured
FVTOCI at amortized cost are deducted from the gross
In accordance with Ind AS 109, the Group carrying amount of the assets.
applies Expected Credit Loss (ECL) model for
measurement and recognition of impairment Write-off
loss. The Group follows ‘simplified approach’ for The gross carrying amount of a financial asset is
recognition of impairment loss allowance on trade written off (either partially or in full) to the extent
receivable. The application of simplified approach that there is no realistic prospect of recovery. This
does not require the Group to track changes is generally the case when the Group determines
in credit risk. Rather, it recognizes impairment that the debtor does not have assets or sources of
loss allowance based on lifetime ECLs at each income that could generate sufficient cash flows
reporting date, right from its initial recognition. For to repay the amounts subject to the write‑off.
recognition of impairment loss on other financial However, financial assets that are written off could
assets and risk exposure, the Group determines still be subject to enforcement activities in order to
that whether there has been a significant increase comply with the Group’s procedures for recovery
in the credit risk since initial recognition. If credit of amounts due.
risk has not increased significantly, 12-month ECL
is used to provide for impairment loss. However, if (ii) Impairment of equity investments measured at
credit risk has increased significantly, lifetime ECL cost
is used. If in subsequent period, credit quality of the Investments which are measured at cost are
instrument improves such that there is no longer tested for impairment at the end of each reporting
a significant increase in credit risk since initial period. Any impairment loss is recognized in
recognition, then the entity reverts to recognizing the statement of profit and loss, if the amount of
impairment loss allowance based on 12 month impairment loss decreases subsequently then the
ECL. Lifetime ECLs are the expected credit losses previously recognized impairment loss is reversed
resulting from all possible default events over the in the statement of profit and loss.
expected life of a financial instrument. The 12
month ECL is a portion of the lifetime ECL which (iii) Impairment of non-financial assets
results from default events that are possible within At each reporting date, the Group reviews the
12 months after the reporting date. carrying amounts of its non-financial assets (other
than deferred tax assets) to determine whether
Measurement of expected Credit Losses there is any indication of impairment. If any such
ECL is the difference between all contractual cash indication exists, then the asset’s recoverable
flows that are due to the Group in accordance with amount is estimated. For impairment testing,
the contract and all the cash flows that the entity assets are grouped together into the smallest group
expects to receive (i.e. all shortfalls), discounted at of assets that generates the cash inflows from
the original EIR. When estimating the cash flows, continuing use that are largely independent of the
an entity is required to consider: cash inflows of other assets or Cash Generating
237
Units (‘CGU’). The recoverable amount of a CGU before such date are disclosed under ‘Capital work-in-
(or an individual asset) is the higher of its value in progress’.
use and its fair value less costs to sell.
If significant parts of an item of property, plant and
Value in use is based on the estimated future cash equipment have different useful lives, then they are
flows, discounted to their present value using a accounted for as separate items (major components) of
pre-tax discount rate that reflects current market property, plant and equipment.
assessments of time value of money and the risks
specific to the CGU (or the asset). Where it is The cost and related accumulated depreciation are
not possible to estimate the recoverable amount eliminated from the consolidated financial statements
of the individual asset, the Group estimates the upon sale or retirement of the asset and the resultant
recoverable amount of the CGU to which the asset gains or losses are recognized in the Statement of Profit
belongs. An impairment loss is recognized if the and Loss.
carrying amount of an asset or CGU exceeds its
recoverable amount. Any gain or loss on disposal of an item of property, plant
and equipment is recognized in the Statement of Profit
Impairment loss in respect of assets except or Loss.
goodwill is reversed only to the extent that the
assets carrying amount does not exceed the Subsequent expenditure
carrying amount that would have been determined, Subsequent expenditure is capitalized only if it is
net of depreciation or amortization, if no impairment probable that the future economic benefits associated
loss had been recognized in prior years. A reversal with the expenditure will flow to the Group.
of impairment loss is recognized immediately in
the Statement of Profit or Loss. Depreciation
Depreciation is calculated on cost of items of property,
f) Property, plant and equipment plant and equipment less their estimated residual
Recognition and measurement values over their estimated useful lives using the written
Items of property, plant and equipment are measured at down value method and is recognized in the Statement
cost, which includes capitalized borrowing costs, less of Profit and Loss except assets individually costing less
accumulated depreciation and accumulated impairment than Rupees five thousand which are fully depreciated
losses, if any. in the year of purchase / acquisition. Freehold land is
not depreciated. Depreciation is not recorded on capital
Cost of an item of property, plant and equipment working-progress until construction and installation is
comprises its purchase price, including import duties completed and assets are ready for its intended use.
and non-refundable purchase taxes, after deducting
trade discounts and rebates, any directly attributable The estimated useful lives of items of property, plant
cost of bringing the item to its working condition for its and equipment for the current and comparative periods
intended use and estimated costs of dismantling and are as follows:
removing the item and restoring the site on which it is
Asset Block Management estimate
located. Repairs and maintenance costs are recognised
of useful life
in the Statement of Profit and Loss when incurred.
Building 60 years
The cost of a self-constructed item of property, plant Computers 3 to 6 years
and equipment comprises the cost of materials, direct Air Conditioners 15 years
labor and any other costs directly attributable to bringing Leasehold improvements 5 years
the item to working condition for its intended use, and
Office Equipment 5 years
estimated costs of dismantling and removing the item
Electrical Fittings 10 years
and restoring the site on which it is located.
Furniture & Fixtures 10 years
Advances paid towards the acquisition of property, plant
Depreciation method, useful lives and residual values
and equipment outstanding at each Balance Sheet
are reviewed at each financial year-end and adjusted
date is classified as capital advances under other non-
if appropriate. Based on technical evaluation and
current assets and the cost of assets not ready to use
238
consequent advice, the management believes that its adjusted if appropriate.

estimates of useful lives as given above best represent
the period over which management expects to use Goodwill
these assets. Goodwill represents the cost of business acquisition in
excess of the Groups’ interest in the net fair value of
Depreciation on additions (disposals) is provided on a
identifiable assets, liabilities and contingent liabilities
pro-rata basis i.e. from (upto) the date on which asset is
of the acquiree on the date of acquisition. Goodwill is
ready for use (disposed of).
measured at cost less accumulated impairment losses.
g) Intangible assets
Goodwill is not amortized and is tested for impairment
Initial recognition and measurement
annually.
Intangible assets acquired separately are stated at cost
of acquisition net of recoverable taxes, accumulated h) Leases
amortization and impairment losses, if any. Such costs
As a lessee
include purchase price, borrowing cost, and any cost
directly attributable to bringing the asset to its working The Group’s lease asset classes primarily consist of
condition for the intended use, net charges on foreign leases for land and buildings. The Group assesses
exchange contracts and adjustments arising from whether a contract contains a lease, at inception of a
exchange rate variations attributable to the intangible contract. A contract is, or contains, a lease if the contract
assets. conveys the right to control the use of an identified asset
for a period of time in exchange for consideration. To
Research costs are expensed as incurred. Software assess whether a contract conveys the right to control the
product development costs are expensed as incurred use of an identified asset, the Group assesses whether:
unless technical and commercial feasibility of the project
(i) The contract involves the use of an identified asset
is demonstrated, future economic benefits are probable,
the Group has an intention and ability to complete and (ii)
The Group has substantially all of the economic
use or sell the software, and the costs can be measured benefits from use of the asset through the period of
reliably. The costs which can be capitalized include the the lease and
cost of material, direct labour and overhead costs that (iii) The Group has the right to direct the use of the
are directly attributable to preparing the asset for its asset.
intended use.
Initial Recognition
Subsequent expenditure
The Group recognizes a right-of-use asset and a lease
Subsequent expenditure is capitalized only when it
liability at the lease commencement date. The right-of-
increases the future economic benefits embodied in the
use asset is initially measured at cost, which comprises
specific asset to which it relates. All other expenditure,
the initial amount of the lease liability adjusted for any
including expenditure on internally generated goodwill
lease payments made at or before the commencement
and brands, is recognized in the Statement of Profit or
date, plus any initial direct costs incurred and an estimate
Loss as incurred.
of costs to dismantle and remove the underlying asset or
Amortization to restore the underlying asset or the site on which it is
Amortization is calculated to write off the cost of located, less any lease incentives received.
intangible assets less their estimated residual values
over their estimated useful lives using the straight-line Certain lease arrangements includes the options to
method and is included in depreciation and amortization extend or terminate the lease before the end of the lease
in Statement of Profit and Loss. term. ROU assets and lease liabilities includes these
options when it is reasonably certain that they will be
The estimated useful lives of items of intangible assets exercised.
for the current and comparative periods are as follows:
Asset Block Management estimate of useful life Short-term leases and leases of low-value assets
Software 3 years The group has elected not to recognise right-of-use
assets and lease liabilities for short term leases that
Amortization method, useful lives and residual values have a lease term of less than 12 months. The group
are reviewed at the end of each financial year and recognises the lease payments associated with these
239
leases as an expense on a straight-line basis over the of these leases. Lease liabilities are remeasured with a
lease term. corresponding adjustment to the related ROU asset if the
Group changes its assessment of whether it will exercise
Subsequent Measurement an extension or a termination option. Lease liability and
Right to use assets are subsequently measured at cost ROU assets have been separately presented in the
less accumulated depreciation and impairment losses. Balance Sheet and lease payments have been classified
ROU assets are depreciated from the commencement as financing cash flows.
date on a straight-line basis over the shorter of the lease
term and useful life of the underlying asset. i) Foreign currency
Foreign currency transactions
Lease Modification Transactions in foreign currencies are translated into
A lease modification is accounted as a separate lease the functional currency of the Group at the exchange
if the modification increases the scope of the lease by rates at the dates of the transactions or an average rate
adding the right-of-use one or more underlying assets if the average rate approximates the actual rate at the
and the consideration for the lease increases by an date of the transaction.
amount commensurate with the stand-alone price for the
increase in scope and any appropriate adjustments to Monetary assets and liabilities denominated in foreign
that stand-alone price to reflect the circumstances of the currencies are translated into the functional currency at
particular contract. the exchange rate at the reporting date. Non-monetary
assets and liabilities that are measured at fair value
For a lease modification that is not a separate lease, in a foreign currency are translated into the functional
at the effective date of the modification, the lease currency at the exchange rate when the fair value was
liability is remeasured by discounting the revised lease determined. Non-monetary assets and liabilities that are
payments using a revised discount rate at that date. measured based on historical cost in a foreign currency
For lease modifications that decrease the scope of the are translated at the exchange rate at the date of the
lease, the carrying amount of the right-of-use asset is transaction. Exchange differences are recognised in the
decreased to reflect the partial or full termination of the Statement of Profit or Loss, except exchange differences
lease, and a gain or loss is recognised that reflects the arising from the translation of equity investments at fair
proportionate decrease in scope. For all other lease value through OCI, which are recognised in OCI.
modifications, a corresponding adjustment is made to the
right-of-use asset. Foreign operations
The assets and liabilities, including goodwill and fair
Impairment value adjustments arising on acquisition, of foreign
ROU assets are evaluated for recoverability whenever operations (subsidiaries) whose functional currency
events or changes in circumstances indicate that their is a currency other than INR are translated into INR,
carrying amounts may not be recoverable. For the the functional currency of the Group, at the exchange
purpose of impairment testing, the recoverable amount rates at the reporting date. The income and expenses
(i.e. the higher of the fair value less cost to sell and the of such foreign operations are translated into INR at the
value-in-use) is determined on an individual asset basis exchange rates at the dates of the transactions or an
unless the asset does not generate cash flows that are average rate if the average rate approximates the actual
largely independent of those from other assets. In such rate at the date of the transaction.
cases, the recoverable amount is determined for the
Cash Generating Unit (CGU) to which the asset belongs. When a foreign operation is disposed of in its entirety or
partially such that control is lost, the cumulative amount
Measurement of Lease Liability of exchange differences related to that foreign operation
The lease liability is initially measured at amortized cost recognised in OCI is reclassified to the Statement of
at the present value of the future lease payments. The Profit or Loss as part of the gain or loss on disposal. If
lease payments are discounted using the interest rate the Group disposes of part of its interest in a subsidiary
implicit in the lease or, if not readily determinable, using but retains control, then the relevant proportion of the
the incremental borrowing rates in the country of domicile cumulative amount is re-allocated to NCI.
240
j) Employee benefits asset ceiling’). In order to calculate the present

(i) Short-term employee benefits value of economic benefits, consideration is given
to any minimum funding requirements.
Short-term employee benefit obligations are
measured on an undiscounted basis and are
Remeasurements of the net defined benefit liability,
expensed as the related service is provided. A which comprise actuarial gains and losses, the
liability is recognised for the amount expected return on plan assets (excluding interest) and the
to be paid e.g., under short-term cash bonus, effect of the asset ceiling (if any, excluding interest),
if the Group has a present legal or constructive are recognised in OCI. The Group determines the
obligation to pay this amount as a result of past net interest expense (income) on the net defined
service provided by the employee, and the amount benefit liability (asset) for the period by applying the
of obligation can be estimated reliably. discount rate used to measure the defined benefit
obligation at the beginning of the annual period
(ii) Defined contribution plans to the then-net defined benefit liability (asset),
A defined contribution plan is a post-employment taking into account any changes in the net defined
benefit plan under which an entity pays fixed benefit liability (asset) during the period as a result
contributions into a separate entity and will have of contributions and benefit payments. Net interest
no legal or constructive obligation to pay further expense and other expenses related to defined
amounts. benefit plans are recognised in the Statement of
Profit or Loss.
The Group offers its employees defined contribution
plan in the form of provident fund, Superannuation When the benefits of a plan are changed or when a
fund and National pension scheme. The Group plan is curtailed, the resulting change in benefit that
recognizes contribution made towards provident relates to past service (‘past service cost’ or ‘past
fund and national pension scheme in the Statement service gain’) or the gain or loss on curtailment is
of Profit and Loss. The Group also contributes recognised immediately in the Statement of Profit
to Superannuation Fund and Pension Fund for or Loss. The Group recognises gains and losses
its employees who have been contributing to on the settlement of a defined benefit plan when
such funds. the settlement occurs.
The Group makes specified monthly contributions (iv) Other long-term employee benefits
towards Government administered provident fund Compensated absences which are not expected
and national fund scheme. to occur within twelve months after the end of
the period in which the employee renders related
(iii) Defined benefit plans service are recognized as a liability at the present
A defined benefit plan is a post-employment benefit value of the obligation as at the Balance Sheet
plan other than a defined contribution plan. date less fair value of the plan assets out of which
the obligations are expected to be settled. The cost
For defined benefit plans in the form of gratuity of providing benefits is measured on the basis of
fund, the cost of providing benefits is determined an annual independent actuarial valuation using
using the projected unit credit method, with the projected unit credit method. Remeasurements
actuarial valuations being carried out at the end gains or losses are recognised in the Statement of
of each annual reporting period. The contributions Profit or Loss in the period in which they arise.
made to the fund are recognized as plan assets.
The defined benefit obligation as reduced by (v) Share-based payment transactions
fair value of plan assets is recognized on the The Employee Stock Option Schemes of the
Balance Sheet. company provide for grant of options to employees
of the Group to acquire the equity shares of the
When the calculation results in a potential asset company that vest in a graded manner and that are
for the Group, the recognised asset is limited to to be exercised within a specified period. Equity-
the present value of economic benefits available settled share-based payments to employees are
in the form of any future refunds from the plan or measured at the fair value of the equity instruments
reductions in future contributions to the plan (‘the at the grant date. The fair value determined at
241
the grant date of the equity-settled share based neither accounting nor taxable profit or loss at the
payments are expensed on a straight-line basis time of the transaction;
over the vesting period, based on the Company’s
estimate of equity instruments that will eventually - Taxable temporary differences arising on the initial
vest, with a corresponding increase in equity. At the recognition of goodwill.
end of each reporting period, the company revises
its estimate of the number of equity instruments Deferred income tax asset are recognized to the extent
expected to vest. The impact of the revision of that it is probable that taxable profit will be available
the original estimates, if any, is recognized in the against which the deductible temporary differences, and
Statement of Profit or Loss such that the cumulative the carry forward of unused tax credits and unused tax
expense reflects the revised estimate, with a losses can be utilized. Deferred income tax liabilities are
corresponding adjustment to Employee Stock recognized for all taxable temporary differences.
Option Reserve account in Reserves & Surplus.
The carrying amount of deferred income tax assets is
In respect of options granted to employees of reviewed at each reporting date and reduced to the
subsidiaries, the Company recovers the related extent that it is no longer probable that sufficient taxable
compensation cost from the respective subsidiaries. profit will be available to allow all or part of the deferred
income tax asset to be utilized. Deferred income tax
k) Income taxes assets and liabilities are measured at the tax rates that
Income tax comprises current and deferred tax. It is are expected to apply in the period when the asset is
recognised in the Statement of Profit or Loss except realized or the liability is settled, based on tax rates
to the extent that it relates to a business combination (and tax laws) that have been enacted or substantively
or to an item recognised directly in equity or in other enacted at the reporting date.
comprehensive income.
Deferred tax assets and liabilities are offset if there is a
Current tax legally enforceable right to offset current tax liabilities
Current tax comprises the expected tax payable or and assets, and they relate to income taxes levied by
receivable on the taxable income or loss for the year the same tax authority but they intend to settle current
and any adjustment to the tax payable or receivable in tax liabilities and assets on a net basis or their tax
respect of previous years. The amount of current tax assets and liabilities will be realised simultaneously.
reflects the best estimate of the tax amount expected
to be paid or received after considering the uncertainty, Current and deferred taxes are recognized in the
if any, related to income taxes. It is measured using tax Statement of Profit or Loss, except when they relate
rates (and tax laws) enacted or substantively enacted to items that are recognized in other comprehensive
by the reporting date. income or directly in equity, in which case, the current
and deferred taxes are also recognized in other
Current tax assets and current tax liabilities are offset comprehensive income or directly in equity respectively.
only if there is a legally enforceable right to set off
the recognised amounts, and it is intended to realise l) Provisions, Contingent liabilities and
the asset and settle the liability on a net basis or Contingent assets
simultaneously. A provision is recognised if, as a result of a past event,
the Group has a present legal or constructive obligation
Deferred tax that can be estimated reliably, and it is probable that an
Deferred income tax is recognized using the balance outflow of economic benefits will be required to settle
sheet approach. Deferred tax is recognised in respect of the obligation. The amount recognized as a provision is
temporary differences between the carrying amounts of the best estimate of the consideration required to settle
assets and liabilities for financial reporting purposes and the present obligation at the balance sheet date, taking
the corresponding amounts used for taxation purposes. into account the risks and uncertainties surrounding the
obligation.
Deferred tax is not recognized for:
- Temporary differences arising on the initial If the effect of the time value of money is material,
recognition of assets or liabilities in a transaction provisions are determined by discounting the expected
that is not a business combination and that affects future cash flows at a pre-tax rate that reflects current
242
market assessment of the time value of money and risks m) Earnings per share
specific to the liability. When discounted, the increase in The Group reports basic and diluted earnings per share
provision due to the passage of time is recognized as in accordance with Ind AS 33 on Earnings per share.
finance cost.
The basic earnings per share is computed by dividing

Contingent liabilities are disclosed when there is profit after tax attributable to the equity shareholders
a possible obligation arising from past events, the by the weighted average number of equity shares
existence of which will be confirmed only by the outstanding during the reporting period.
occurrence or non-occurrence of one or more uncertain
future events not wholly within the control of the Group or Diluted earnings per share is computed by dividing the
a present obligation that arises from past events where net profit after tax by the weighted average number of
it is either not probable that an outflow of resources will equity shares considered for deriving basic earnings
be required to settle the obligation or a reliable estimate per share and also weighted average number of equity
of the amount cannot be made. shares that could have been issued upon conversion
of all dilutive potential equity shares. Dilutive potential
A contingent asset is not recognised but disclosed in equity shares are deemed converted as of the beginning
the consolidated financial statements where an inflow of the period, unless issued at a later date. Dilutive
of economic benefit is probable. potential equity shares are determined independently
for each period presented. The number of equity shares
Commitments includes the amount of purchase order and potentially dilutive equity shares are adjusted
(net of advance) issued to counterparties for supplying for bonus shares, consolidation of shares, etc. as
/ development of assets and amounts pertaining to appropriate.
Investments which have been committed but not
called for. n) Cash and cash equivalents
Cash and cash equivalents are short-term highly liquid
Provisions, contingent assets, contingent liabilities and
investments that are readily convertible into cash with
commitments are reviewed at each balance sheet date.
original maturities of three months or less. Cash and
Onerous contracts cash equivalents consist primarily of cash and deposits
with banks.
A contract is considered to be onerous when the
expected economic benefits to be derived by the Group o) Cash flow statement
from the contract are lower than the unavoidable cost of
Cash flows are reported using the indirect method,
meeting its obligations under the contract. The provision
whereby net profit / (loss) before tax is adjusted for
for an onerous contract is measured at the present
the effects of transactions of non-cash nature and any
value of the lower of the expected cost of terminating
deferrals or accruals of past of future cash receipts and
the contract and the expected net cost of continuing
payments. The cash flows from operating, investing and
with the contract. Before such a provision is made, the
financing activities of the Group are segregated
Group recognises any impairment loss on the assets
associated with that contract.
243
244
Notes Forming Part of the Consolidated Ind AS Financial Statement
NOTE 4 : FIXED ASSETS
I. Current year
a) Property Plant and Equipment
In ` Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
2 Building 503.48 - - 503.48 242.80 12.50 - 255.30 248.18 260.68
3 Plant & Equipment 627.18 89.54 43.03 673.69 286.56 70.89 35.92 321.53 352.16 340.62
4 Furniture and Fixtures 2,082.26 57.14 35.30 2,104.10 1,537.87 164.12 33.20 1,668.79 435.31 544.39
5 Leasehold 429.24 390.26 - 819.50 68.34 231.55 - 299.89 519.61 360.90
improvements
6 Office Equipments 1,269.89 178.77 40.67 1,407.99 996.42 151.15 37.88 1,109.69 298.30 273.47
7 Computers 14,081.85 2,360.90 1,085.17 15,357.58 10,354.15 1,845.75 1,034.66 11,165.24 4,192.34 3,727.70
Total 22,065.02 3,082.09 1,210.88 23,936.23 13,942.86 2,523.03 1,147.99 15,317.90 8,618.33 8,122.16
b) Right of Use Assets

In ` Lakhs
of Assets
Total 12,897.66 3,475.74 901.19 15,472.21 5,652.88 2,283.35 761.66 7,174.57 8,297.64 7,244.77
In ` Lakhs
of Assets
1 Software 8,370.69 549.51 - 8,920.20 5,688.35 1,218.62 - 6,906.97 2,013.23 2,682.34
2 Goodwill on 13,359.83 963.50 - 14,323.33 - - - - 14,323.33 13,359.83
Consolidation
Total 21,730.52 1,513.01 - 23,243.53 5,688.35 1,218.62 - 6,906.97 16,336.56 16,042.17
Notes Forming Part of the Consolidated Ind AS Financial Statement
In ` Lakhs
2023 2022
1 Tangible Assets 75.60 16.34
2 Intangible Assets 805.37 -
880.97 16.34
Corporate Overview
* All of the above are less than one year.
In ` Lakhs
March 31, 2023
Statutory Reports
(b) Depreciation on Right of Use assets 2,283.35

(c) Amortisation of Intangible Assets 1,218.62
Total 6,025.00
II. Previous year

a) Property Plant and Equipments
In ` Lakhs
of Assets
1 Land 2,439.21 - - 2,439.21 - - - - 2,439.21 2,439.21
2 Building 503.48 - - 503.48 229.68 13.13 - 242.80 260.68 273.80
3 Plant & Equipment 522.61 158.95 54.37 627.18 271.53 58.96 43.92 286.56 340.62 251.09
4 Furniture and Fixtures 1,933.73 207.85 59.31 2,082.26 1,411.80 176.21 50.14 1,537.87 544.39 521.94
5 Leasehold - 429.24 - 429.24 - 68.34 - 68.34 360.90 -
improvements
6 Office Equipments 1,117.94 202.31 50.36 1,269.89 931.10 111.76 46.45 996.42 273.47 186.84
7 Computers 11,446.80 2,719.59 84.54 14,081.85 8,734.44 1,699.36 79.65 10,354.15 3,727.70 2,712.36
Total 18,509.83 3,806.62 251.43 22,065.02 11,985.72 2,179.81 222.66 13,942.86 8,122.16 6,524.12
245
246
Notes forming part of Ind AS Consolidated financial statement
b) Right of Use Assets
In ` Lakhs
of Assets
Total 11,018.76 1,930.41 51.52 12,897.66 3,645.17 2,049.64 41.93 5,652.88 7,244.77 7,373.59
In ` Lakhs
of Assets
1 Software 5,899.65 2,471.04 - 8,370.69 4,755.63 932.72 - 5,688.35 2,682.34 1,144.02
2 Goodwill on 13,359.83 - - 13,359.83 - - - - 13,359.83 13,359.83
Consolidation
Total 19,259.48 2,471.04 - 21,730.52 4,755.63 932.72 - 5,688.35 16,042.17 14,503.85

In ` Lakhs
2022 2021
1 Capital Work in Progress 16.34 -

March 31, 2022
(c) Amortisation of Intangible Assets 932.72
Total 5,162.17
Notes forming part of Ind AS Consolidated financial statements

NOTE 5 : INVESTMENTS
Current Non Current Total Current Non Current Total
In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs In ` Lakhs
Designated as Fair Value
Through Profit and Loss
Quoted investments
Investments in Government or - - - - - -
trust securities
Investments in Mutual fund 32,983.44 - 32,983.44 31,694.77 - 31,694.77
TOTAL INVESTMENTS 32,983.44 - 32,983.44 31,694.77 - 31,694.77
CARRYING VALUE
NOTE 6 : TRADE RECEIVABLES

Unsecured, considered good 3,437.37 - 2,667.19 -
Less: Expected Credit loss allowance 135.08 - 112.47 -
Total* 3,302.29 - 2,554.72 -
* The company does not have any relationship with struck off companies for the current year ended March 31, 2023 and previous year ended
March 31, 2022

a) Current period
(i) Undisputed Trade receivables – 3,028.96 245.91 112.78 56.41 (6.69) 3,437.37
considered good
credit impaired
3,028.96 245.91 112.78 56.41 (6.69) 3,437.37
Total 3,302.29

b) Previous period
(i) Undisputed Trade receivables – 2,430.67 182.18 68.63 6.93 (21.22) 2,667.19
considered good
credit impaired
2,430.67 182.18 68.63 6.93 (21.22) 2,667.19
Total 2,554.72
247

NOTE 7 : LOANS AND ADVANCES
Loans and advances to employees
Unsecured considered good 90.31 23.25 66.38 21.30
Total 90.31 23.25 66.38 21.30
NOTE 8 : OTHER FINANCIAL ASSETS

Security deposits
Unsecured considered good 18.16 1,281.96 409.89 1,152.08
Doubtful 18.69 5.00 18.69 5.00
36.85 1,286.96 428.58 1,157.08
Less: Expected Credit loss allowance 18.69 5.00 18.69 5.00
18.16 1,281.96 409.89 1,152.08
Interest accrued, but not due on Fixed Deposits with banks 322.52 - 124.24 -
Contractually reimbursable payments - - 0.83 -
Total 340.68 1,281.96 534.96 1,152.08
NOTE 9 : CASH AND CASH EQUIVALENTS

March 31, 2023 March 31, 2022
Cash and Bank Balances
Cash on hand 3.31 2.49
Balances with banks
- In current accounts 1,636.06 448.40
Total 1,639.37 450.89
NOTE 10 : BANK BALANCES OTHER THAN CASH AND CASH EQUIVALENTS

March 31, 2023 March 31, 2022
Deposits with Bank
- In deposit accounts 13,478.19 5,759.77
- Balances held as margin money or security against borrowings, guarantees
118.18 2,067.56
and other commitments
Other earmarked balances with banks
- In ECS Collection 35.28 29.44
- In Stamp Duty Collection 13.25 43.34
Unpaid / Unclaimed Dividend Account* 6,742.39 6,730.26
Total 20,387.29 14,630.37
has not been paid to the beneficiary’s account due to SEBI’s directive dated 04th February, 2020 and therefore, the specified amount is kept
in a separate bank account.
248

NOTE 11 : NET CURRENT TAX ASSETS / (LIABILITIES) (NET)
Advance Tax & TDS (Net of Provision for tax amounting to 2,371.48 - 2,013.77 -
` 69,708.52 Lakhs, PY `60,281.16 Lakhs)
Provision for tax (Net of Advance tax and TDS amounting (10.53) - (5.01) -
to `88.62. PY `18.81 Lakhs)
Net Current Tax Assets / (Liabilities) 2,360.95 - 2,008.76 -
NOTE 12 : OTHER ASSETS

Capital Advances - 133.94 - 175.35
Advance to suppliers 981.79 - 963.71 -
Accrued Income 9,071.25 - 7,367.74 -
Balances with government authorities (other than income 110.32 - 53.57 -
taxes)
Prepayments 1,744.20 125.58 1,493.61 51.94
Employee benefits asset (net) 15.43 - 14.23 -
Total 11,922.99 259.52 9,892.86 227.29
NOTE 13 : SHARE CAPITAL

Number of Value Number of Value
shares (` in Lakhs) shares (` in Lakhs)
Authorised
Issued
Subscribed and fully paid up
Total issued, subscribed and paid up share capital 48,993,596 4,899.36 48,903,470 4,890.35
Notes:
Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the year:
Particulars Opening ESOP Others Closing

Balance exercised Balance
Equity shares with voting rights
- Number of shares 48,903,470 90,126 - 48,993,596
- Amount (In ` Lakhs) 4,890.35 9.01 - 4,899.36
- Number of shares 48,791,038 112,432 - 48,903,470
- Amount (In ` Lakhs) 4,879.10 11.25 - 4,890.35
249

Promoter Holdings
Shares held by promoters at the end of the year % Change
during the year*
Great Terrain Investment Limited 9,759,730 19.92% -3.79%
* Percentage change has been computed with respect to the number of shares of the company at the beginning of the period.
Shares held by promoters at the beginning of the reporting period

Great Terrain Investment Limited 11,615,600 23.75%
Details of shares held by each shareholder holding more than 5% shares:

Equity Shares with Voting Rights As at March 31, 2023 As at March 31, 2022
Number of % holding Number of % holding
shares held in that class shares held in that class
of shares of shares
Great Terrain Investment Limited 9,759,730 19.92% 11,615,600 23.75%
Housing Development Finance Corporation Ltd 2,920,724 5.96% 2,920,724 5.97%
NOTE 14 : OTHER EQUITY

March 31, 2023 March 31, 2022
Securities premium account
Opening balance 1,596.11 294.96
Add : Premium on shares issued during the period under ESOP Scheme* 1,244.52 1,301.15
ESOP Reserve
Add: ESOP amortisation during the year ** 2,672.31 2,534.56
Less: Transferred to Securities premium account on exercise of ESOP options* (537.60) (548.90)
General reserve
Other Comprehensive Income
Opening balance (664.15) (705.56)
OCI recognised during the year (20.96) 41.41
Less: Utilisations / transfers during the period - -
Closing balance (685.11) (664.15)
250

March 31, 2023 March 31, 2022
Surplus / (Deficit) in Statement of Profit and Loss
Add : opening Loss of Fintuple 0.00
Add: Profit / (Loss) for the year 28,524.83 28,694.69
Less: Dividends to equity shareholders (18,483.43) (18,857.55)
Total 73,273.10 59,873.43

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

251

NOTE 15 : TRADE PAYABLES
Total Outstanding dues to Micro, Small and Medium 157.12 - 52.20 -
Enterprises
Total Outstanding dues to Others 999.03 - 789.36 -
Claims Payable 351.12 - 540.92 -
Expenses Payable 3,177.98 - 3,512.59 -
Total* 4,685.25 - 4,895.07 -
* The company does not have any relationship with struck off companies for the current year ended March 31, 2023 and previous year ended
March 31, 2022.
Trade Payable Ageing

1 year 3 years
a) Current period
(i) MSME 157.12 - - - 157.12
(ii) Others 921.17 70.73 2.35 4.78 999.03
1,078.29 70.73 2.35 4.78 1,156.15
Total 4,685.25

1 year 3 years
b) Previous period
(i) MSME 52.20 - - - 52.20
(ii) Others 770.70 3.08 10.87 4.71 789.36
Total 822.90 3.08 10.87 4.71 841.56
Total 4,895.07
NOTE 16 : OTHER FINANCIAL LIABILITIES

Unclaimed / Unpaid dividends* 6,742.38 - 6,730.26 -
Total 6,742.38 - 6,730.26 -
has not been paid to the beneficiary’s account due to SEBI’s directive dated February 4, 2020.
252

NOTE 17 : OTHER CURRENT LIABILITIES
Statutory Liabilities
- taxes payable (other than income taxes) 1,934.53 - 1,948.26 -
- Employees and Employer Contributions 332.27 - 278.63 -
Unearned revenue 33.65 - 37.69 -
Other payables 121.27 - 123.69 -
Others - Money held in trust 43.14 - 70.41 -
Total 2,464.86 - 2,458.68 -
NOTE 18 : PROVISIONS

Provision for employee benefits:
Provision for Gratuity (net) 33.54 327.76 55.63 405.20
Provision for other employee benefits 914.05 - 1,297.23 -
Provision - Others:
Other provisions - - - -
Provision for claims - 6,874.79 - 6,874.79
Total 947.59 7,202.55 1,352.86 7,279.99
NOTE 19 : REVENUE FROM OPERATIONS

March 31, 2023 March 31, 2022
Revenue from rendering of services 97,182.72 90,966.75
Total 97,182.72 90,966.75
Revenue from rendering of services comprises of :

March 31, 2023 March 31, 2022
Data processing 79,045.85 74,784.68
Customer Care services 6,903.93 6,254.80
Recoverables 4,521.57 4,294.78
Miscellaneous services 5,844.64 5,114.86
Software license fee, development & support services 866.73 517.63
Total 97,182.72 90,966.75
253

NOTE 20 : OTHER INCOME
March 31, 2023 March 31, 2022
Interest Income
- On Bank deposits 599.79 367.15
- On Financial Assets at Amortised Cost 92.94 78.49
- On Income Tax Refund 202.00 107.10
Dividend Income
- Others 0.49 0.49
Net Gain / (Loss) On sale of investments 1,522.36 1,581.23
Net gain/(loss) arising on financial assets designated as at FVTPL 189.48 (527.75)
Miscellaneous Income 26.97 85.27
Gain on termination of lease contract 47.27 3.45
Liabilities No Longer payable Written back - 32.01
Total 2,681.30 1,727.44
NOTE 21 : EMPLOYEE BENEFITS EXPENSE

March 31, 2023 March 31, 2022
Salaries and wages, including bonus 26,570.36 22,586.16
Contributions to provident and other funds 2,534.45 2,026.73
Share based payment transactions expenses
- Equity-settled share-based payments 2,672.31 2,534.56
Staff welfare expenses 600.57 589.06
Manpower Charges 3,430.49 4,438.71
Total 35,808.18 32,175.22
NOTE 22 : FINANCE COSTS

March 31, 2023 March 31, 2022
Interest on Lease liabilities 760.75 713.39
Total 760.75 713.39
NOTE 23 : OPERATING EXPENSES

March 31, 2023 March 31, 2022
Service expenses 4,472.87 4,294.78
Data entry charges 884.35 770.60
Customer Service Centre Charges 1,445.41 1,319.23
ECS Processing charges 434.99 246.25
Claims 342.59 139.25
Software expenses 3,645.79 2,528.69
Total 11,226.00 9,298.80
254

NOTE 24 : OTHER EXPENSES
March 31, 2023 March 31, 2022
Lease rent 101.11 125.38
Power and fuel 1,023.52 773.20
Repairs and Maintenance 1,450.09 1,206.12
Insurance 415.13 294.88
Rates and taxes 121.99 77.25
Communication 1,365.26 1,469.78
Travelling and conveyance 841.22 694.23
Printing and stationery 118.37 155.27
Business promotion 316.11 178.83
Expenditure on Corporate Social Responsibility (refer note no 32) 637.64 507.60
Payments to auditors ((refer note no 38) 64.99 61.62
Legal and professional 1,319.90 1,467.71
Director's Sitting Fees 74.50 65.00
Net loss on foreign currency transactions and translation 1.08 1.25
(Profit) / Loss on fixed assets sold / scrapped / written off 4.85 12.98
Provision for doubtful debts and advances 22.62 (238.78)
Bad debts - 56.03
Miscellaneous expenses 146.98 171.44
Total 8,025.36 7,079.79
NOTE 25 : CURRENT TAX AND DEFERRED TAX

(a) Income Tax Expense
March 31, 2023 March 31, 2022
Current Tax:
Current Income Tax Charge 9,543.20 9,762.42
Adjustments in respect of prior years (113.09) (190.30)
Deferred Tax - Debit / (Credit)
In respect of current year origination and reversal of temporary differences 125.18 (1.99)
Total Tax Expense recognised in statement of profit and loss 9,555.29 9,570.13
(b) Income Tax on Other Comprehensive Income

March 31, 2023 March 31, 2022
Current Tax
On Items will not be reclassified to Profit and Loss
Remeasurements of defined benefit liabilities / (asset) - Tax (Expenses) / Income 7.06 (14.05)
Total 7.06 (14.05)
255

(c) Deferred Tax
Deferred Tax Asset (Net) Year Ended March 31, 2023 Year Ended March 31, 2022
Opening Transferred Recognised Closing Opening Transferred Recognised Closing
Balance to DTA in profit Balance Balance to DTA in profit Balance
and Loss and Loss
Property, Plant and Equipment and 1,393.27 - 233.96 1,627.23 1,411.29 (3.89) (14.13) 1,393.27
Right to Use Asset
FVTPL financial asset 96.11 - (28.19) 67.92 257.14 (17.62) (143.41) 96.11
Sub Total (A) 1,489.39 - 205.77 1,695.15 1,668.43 (21.51) (157.54) 1,489.39
deferred tax assets
Employee Benefits 226.64 - (100.17) 126.47 350.13 (3.54) (119.95) 226.64
Lease liabilities 1,858.29 - 270.54 2,128.83 1,811.16 (12.92) 60.04 1,858.29
Other Items 454.92 - 3.91 458.83 524.00 (42.77) (26.32) 454.92
Sub Total (B) 2,539.85 - 174.28 2,714.13 2,685.29 -59.22 (86.22) 2,539.85
Net Deferred Tax Asset / (Liabilities) 1,050.46 - (31.49) 1,018.98 1,016.86 (37.71) 71.31 1,050.46
(B-A)
Deferred Tax Liability (Net) Year Ended March 31, 2023 Year Ended March 31, 2022
Opening Transferred Recognised Closing Opening Transferred Recognised Closing
Balance from DTA in profit Balance Balance from DTA in profit Balance
and Loss and Loss
Property, Plant and Equipment and 6.45 - 5.98 12.43 (1.02) 3.89 3.59 6.45
Right to Use Asset
FVTPL financial asset 63.32 - 86.39 149.71 15.57 17.62 30.14 63.32
Sub Total (A) 69.77 - 92.37 162.14 14.54 21.51 33.72 69.77
deferred tax assets
Employee Benefits 3.16 - 0.29 3.45 0.45 3.54 (0.82) 3.16
Lease liabilities (13.07) - 4.44 (8.63) 9.58 12.92 (35.57) -13.07
Other Items 43.56 - (6.06) 37.50 - 42.77 0.78 43.56
Sub Total (B) 33.65 - (1.33) 32.32 10.03 59.22 (35.61) 33.65
Net Deferred Tax Asset / (Liabilities) (36.12) - (93.70) (129.82) (4.51) 37.72 (69.33) (36.12)
(B-A)

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

256

NOTE 26 : EMPLOYEE BENEFITS
I. Defined Contribution Plans
Provident Fund:
The Group makes contribution towards Provident Fund for its employees. The Group’s contribution is deposited with the
Government under the provisions of Employees’ Provident Fund and Miscellaneous Provisions Act 1952. The contribution
made by the Group is at the rate specified under this Act.
Others:
The Group makes contribution for Employee State Insurance and National Pension Scheme for its employees. All such
contributions are deposited with the Government. The Group also contributes to Superannuation Fund and Pension Fund
for its employees who have been contributing to such funds.
During the year, the Group recognised the following amounts in the Statement of Profit or Loss (included in Note 21:
Employee Benefit Expenses.

Contribution to Provident Fund 1,017.07 743.25
Contribution to Employee State Insurance 171.36 154.68
Contribution to Superannuation Fund 21.43 20.75
Contribution to Pension Fund 688.80 589.98
Contribution to National Pension Scheme 45.78 34.62
Total 1,944.44 1,543.29
II. Defined Benefit Plans

March 31, 2023 March 31, 2022
Net defined benefit liability / (asset) - Gratuity plan 96.22 60.59
Other long term employee benefits liability / (asset) - leave encashment 137.25 100.03
Total employee benefit liabilities 233.47 160.62
The Group has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act 1972. This gratuity plan
entitles an employee, who has rendered atleast 5 years of continuous service to gratuity, at the rate of 15 days wages
for every completed year of service or part thereof in excess of 6 months, based on the rate of wages last drawn by the
employee concerned.
A. Funding
The gratuity plan is funded by the Group. The funding requirements are based on a separate actuarial valuation
within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.
B. Reconciliation of net defined benefit (asset) / liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined
benefit (asset)/ liability and its components:
257

Reconciliation of present value of defined benefit obligation:
March 31, 2023 March 31, 2022
Benefits paid (342.28) (233.81)
Transfer In / (Out) - -
Actuarial (gains)/ losses recognised in OCI - -
- changes in demographic assumptions (5.26) (2.36)
March 31, 2023 March 31, 2022
Non-Current 3,010.38 2,708.50
Current 518.54 442.68
Total 3,528.92 3,151.18

March 31, 2023 March 31, 2022
Benefits paid (342.28) (233.81)
Transfer In / (Out) - -
Return on plan assets , excluding amount recognised in net interest
- 0.27
expense
Net defined benefit (asset) / liability 96.22 60.59
Total 466.15 413.99
ii. Remeasurements recognised in OCI

Actuarial (gains)/ losses on defined benefit obligation 54.66 157.75
Return on plan assets , excluding amount recognised in net
- -
interest expense
Total 54.66 157.75
258

D. Plan Assets
March 31, 2023 March 31, 2022

March 31, 2023 March 31, 2022
(FY23-24 & FY24-25) (FY22-23 & FY23-24)
31-44 years - 15% 31-44 years - 15%

March 31, 2023
March 31, 2022

The Group’s best estimate of Contribution during the next year is ` 563.64 lakhs
259

Weighted average duration (based on discounted cashflows) is 6 years
Weighted average duration (based on discounted cashflows) Indian Rupees
(INR)
1 year 518.54
2 to 5 year 1,773.87
6 to 10 year 1,633.84
More than 10 year 2,126.39

which may vary over time. Thus, The Group is exposed to various risks in providing the above gratuity benefit
which are as follows:
Interest Rate Risk: The plan exposes the Group to the risk of fall in interest rates. A fall in interest rates will
Liquidity Risk: This is the risk that the Group is not able to meet the short-term payouts. This may arise due
to non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of
salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan
participants from the rate of increase in salary used to determine the present value of obligation will have a
bearing on the plan’s liabilty.
Demographic Risk: The Group has used certain mortality and attrition assumptions in valuation of the liability.
The Group is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Regulatory Risk: Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act,
1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts
(e.g. Increase in the maximum limit on gratuity of ` 20,00,000).
Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of
assets, exposing the Group to market risk for volatilities/fall in interest rate.

III. Other long term employee benefits - Compensated absences (Leave encashment):
A. Funding
The leave encashment plan is funded by the Group. The funding requirements are based on a separate actuarial
valuation within the framework set out in the funding policies of the plan. Employees do not contribute to the plan.
260

The following table shows a reconciliation from the opening balances to the closing balances for the net (asset)/
liability and its components:
Reconciliation of present value of obligation:
March 31, 2023 March 31, 2022
Benefits paid (625.64) (570.22)
Tranfer In / (Out) - -
Actuarial (gains)/ losses
- changes in demographic assumptions 0.43 6.97
March 31, 2023 March 31, 2022
Non-Current 698.83 683.63
Current 195.64 152.87
Total 894.47 836.50

March 31, 2023 March 31, 2022
Benefits paid (192.27) (152.85)
Return on plan assets, excluding amount recognised in net interest
- -
expense
Net (asset)/ liability 137.25 100.03
Return on plan assets excluding interest income - -
Actuarial (gains)/ losses 467.22 33.99
Total 636.15 650.78
261

D. Plan Assets
March 31, 2023 March 31, 2022

March 31, 2023 March 31, 2022
(FY23-24 & FY24-25) (FY22-23 & FY23-24)
31-44 years - 15% 31-44 years - 15%

March 31, 2023
March 31, 2022
provides an approximation of the sensitivity of the assumptions shown
iii. Expected Contribution during the next annual reporting period

The Group’s best estimate of Contribution during the next year is ` 351.65 lakhs

Weighted average duration (based on discounted cashflows) is 6 years
1 year 193.32
2 to 5 year 442.57
6 to 10 year 342.68
More than 10 year 508.14
262

which may vary over time. Thus, The Group is exposed to various risks in providing the above leave encashment
benefit which are as follows:
Interest Rate risk: The plan exposes the Group to the risk of fall in interest rates. A fall in interest rates will

Liquidity Risk: This is the risk that the Group is not able to meet the short-term payouts. This may arise due

to non availabilty of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being
sold in time.
Salary Escalation Risk: The present value of the defined benefit plan is calculated with the assumption of

salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan
participants from the rate of increase in salary used to determine the present value of obligation will have a
bearing on the plan’s liabilty.
Demographic Risk: The Group has used certain mortality and attrition assumptions in valuation of the liability.
The Group is exposed to the risk of actual experience turning out to be worse compared to the assumption.
Asset Liability Mismatching or Market Risk: The duration of the liabilty is longer compared to duration of
assets, exposing the Group to market risk for volatilities/fall in interest rate.
NOTE 27 : EARNINGS PER SHARE

A. Basic Earnings per share
The calculations of profit attributable to equity shareholders and weighted average number of equity shares outstanding
for calculation of Basic EPS are as follows:
i. Profit or loss attributable to equity shareholders (basic)
March 31, 2023 March, 31 2022
Profit attributable to the equity shareholders 28,524.83 28,694.69
ii. Weighted average number of equity shares (basic)

March 31, 2023 March, 31 2022
Opening Balance 48,903,470 48,791,038
Weighted average number of equity shares issued during the period
59,380 67,970
upon exercise of ESOP
Weighted average number of equity shares for the period 48,962,850 48,859,008
Basic EPS 58.26 58.73
263

B. Diluted Earnings per share
The calculations of diluted earnings per share based on profit attributable to equity shareholders and weighted average
number of equity shares outstanding, after adjustment for the effects of all dilutive potential equity shares, are as follows:
i. Profit or loss attributable to equity shareholders (diluted)
Profit attributable to the equity shareholders (Basic) 28,524.83 28,694.69
Adjustment with respect to dilutive potential equity shares - -
Profit attributable to the equity shareholders (Diluted) 28,524.83 28,694.69
ii. Weighted average number of equity shares (diluted)

Weighted average number of equity shares (basic) 48,962,850 48,859,008
Dilutive effect of outstanding stock options 316,998 269,981
Weighted average number of equity shares (diluted) for the period 49,279,849 49,128,989
Diluted EPS 57.88 58.41
NOTE 28 : DIVIDEND PER SHARE

Total Dividend Paid (excluding tax on dividend) (A) 18,483.43 18,857.55
Dividend Tax - -
No of equity shares (B) 48,993,596 48,903,470
Dividend per share (A/B) 37.75 38.59
The board of directors at its meeting held on May 06, 2023 have proposed a final dividend of ` 12.00 per equity share,
subject to approval by shareholders at ensuing annual general meeting.
DISCLOSURES REQUIRED UNDER SECTION 22 OF THE MICRO, SMALL AND MEDIUM

ENTERPRISES DEVELOPMENT ACT, 2006
The Management has identified enterprises which have provided goods and services to the Group and which qualify under the
definition of micro and small enterprises as defined under the Micro, Small and Medium Enterprises Development Act, 2006.
Accordingly, the disclosure in respect of amounts payable to such enterprises as at March 31, 2023 has been made based
on the information available with the Group. Further, in the view of the Management, the impact of interest, if any, that may be
payable in accordance with the Act is not expected to be material. The Group has not received any claim for interest from any
supplier under this Act.
The information has been determined to the extent such parties have been identified on the basis of information available with
the Group. Auditors have placed reliance on such information provided by the Management.
March 31, 2023 March 31, 2022
Principal amount remaining unpaid to MSME suppliers as at the end of the period 157.12 52.20
Interest due on unpaid principal amount to MSME suppliers as at the end of the - -
period
Amount of interest paid along with the amounts of the payment made to the - -
MSME suppliers beyond the appointed day
264

March 31, 2023 March 31, 2022
Amount of interest due and payable for the year (without adding the interest
- -
under the Act)
Amount of interest accrued and remaining unpaid as at the end of the period - -
Amount of further interest due and payable even in the succeeding year, until
- -
such date when the interest dues as above are actually paid
NOTE 30 : TRANSACTIONS IN FOREIGN CURRENCY

i. Earnings:
Software development income 6.71 8.85
Total 6.71 8.85
ii. Expenditure:
Software procurement and maintenance expenses 272.70 68.06
Total 272.70 68.06
NOTE 31 : RELATED PARTIES

A. Names of related parties and nature of relationship:
I. Entities having control/ significant influence/ joint venture relationships:
Great Terrain Investment Limited Shareholder having significant influence over the company
Harmony River Investment Limited Parent Company of Great Terrain Investment Limited
II. Key Management Personnel (KMP):
Name Designation
Mr Vedanthachari Srinivasa Rangan Non Executive and Non Independent Director
Mr Narendra Ostawal Nominee Director - CAMS
Mr Sandeep Kagzi Non Executive and Non Independent Director
Mr Anuj Kumar Managing Director
Mr S R Ramcharan Chief Financial Officer
Mr M Somasundaram Chief Financial Officer (upto July 31, 2021)
Mr G Manikandan Company Secretary and Compliance Officer
B. Transactions with Related Parties

March 31, 2023 March 31, 2022
I. Expenses
Mr Anuj Kumar 412.17 373.81
Remuneration and
other Short term
employment benefits
265


March 31, 2023 March 31, 2022
Share based Mr M Somasundaram NA 39.87
payments Mr S R Ramcharan 212.12 151.73
Sitting fees paid Mr Vedanthachari Srinivasa Rangan 8.00 8.00
Dividend paid
Mr Vedanthachari Srinivasa Rangan 2.30 2.35
Great Terrain Investment Limited 4,032.27 5,456.86
Note :
(a) Information relating to remuneration paid to KMP excludes:
(i) provision made for gratuity and leave encashment which are based on an actuarial valuation for employees on an overall
basis, and
(ii) perquisites on ESOP exercise.
(b) Leave encashment and gratuity are included to the extent of payouts made to the KMP.”
C. Related Party Balances

NIL
All transactions with related parties are on arm’s length basis.
NOTE 32 : CORPORATE SOCIAL RESPONSIBILITY
Particulars Year Ended Year Ended

March 31, 2023 March 31, 2022
Amount required to be spent by the company during the period 635.13 499.59
Amount of expenditure incurred 637.64 507.60
Shortfall at the end of the year - -
Total of previous year shortfall - -
Reason for shortfall - -
Nature of CSR Activities * - -
Details of related party transactions - -
where a provision is made with respect to a liability incurred by entering into a
contractual obligation, the movement in the provision during the year shall be - -
shown separately
Total 637.64 507.60
* CSR activties are listed below:
(i) Educational and vocational training for economically weaker students, physically and mentally ill students
(ii) Providing personal safety education
(iii) Training for small scale entrepreneurs
(iv) Healthcare services
(v) Assistance to orphanages and old age homes
266

NOTE 33 : LEASES
The Group has entered into operating lease agreements for office spaces and printers/photocopiers.
Office spaces taken on lease (Leasehold improvements):

Office spaces in around 100 locations across India have been taken on lease. Lease payments are made monthly and include
specified amenities. The Group has effective control over these office spaces as the Group will be renovating or building
temporary erections as and when required. The lease term ranges from 11 months to 9 years.
Printers, Photo copiers and others:

The Group has applied the exemption in Ind AS 116 for leases of low value assets and has not applied the new standard for
leases of printers and photocopiers. Also, the consideration paid for such leases include both rental and maintenance charges.
For these leases, the lease expenses are accounted on a straight-line basis (based on actual payments) over the lease term.
A. Right of Use Assets:

March 31, 2023 March 31, 2022
Intital recognition - -
Additions during the year 3,475.74 1,930.41
Depreciation charge for the year 2,283.35 2,049.64
B. Lease Liability:
March 31, 2023 March 31, 2022
Intital recognition / Additions during the year 3,152.28 1,806.27
Interest expenses for the year 760.75 713.39
Lease payments during the year (2,723.62) (2,236.57)
C. Amounts recognised in Statement of Profit or Loss:

Interest on lease liabilities 760.75 713.39
Expenses relating to leases of low-value assets and short term leases 101.11 125.38
Depreciation on Right to Use asset 2,283.35 2,049.64
Interest on amortised deposits (92.94) (78.49)
Gain or loss on termination of lease (47.27) (3.45)
Net Expenses 3,005.00 2,806.47
D. Amounts recognised in Statement of Cash Flows:

Total cash outflow for leases 2,723.62 2,255.72
267

E. Extension Options
Some leases for office spaces contain extension options exercisable by the Group for an additional period ranging
between 11 months to 5 years. Where practicable, the Group seeks to include extension options in new leases to provide
operational flexibility. The extension options held are exercisable only by the Group and not by the lessors. The Group
assesses at lease commencement date whether it is reasonably certain to exercise the extension options. The Group
reassesses whether it is reasonably certain to exercise the options if there is a significant event or significant changes in
circumstances within its control.
I. Definition of a lease
At inception of the contract, the Group assesses whether a contract is, or contains, a lease. Under Ind AS 116, a
contract is, or contains, a lease if it conveys the right to control the use of an identified asset for a period of time, in
exchange for consideration.
II. As a lessee
For measuring the lease liabilities, the Group has discounted lease payments using MCLR rate provided by its
bankers, which is 8.25%.
The Group has used the following practical expedients while applying Ind AS 116 to leases previously classified as
operating lease:
i. The Group did not recognise Right of Use Assets and liabilities for leases of low value assets (eg. Printers and
photocopiers).
ii. The Group used hindsight when determining lease term.
iii. The Group applied the exemption not to recognise right-of-use assets and liabilities for leases with less than 12
months of lease term.
iv. The Group has used a single discount rate to a portfolio of leases with reasonably similar characteristics
III. Maturity analysis of lease liabilities

March 31, 2023 March 31, 2022
Less than 1 year 1,971.84 1,956.95
More than 1 year 7,353.04 6,236.57
Total 9,324.88 8,193.52
NOTE 34 : REVENUE
A. Revenue Streams
The Group generates revenue primarily from provision of application/data processing services, customer care services,
software development services and other allied services to its customers.

March 31, 2023 March 31, 2022
Revenue from Contracts with Customers 97,182.72 90,966.75
Total revenue 97,182.72 90,966.75
B. Disaggregation of revenue from contracts with customers

In the following table, revenue from contracts with customers is disaggregated by major service lines, timing of revenue
recognition and primary geographical market.
268


March 31, 2023 March 31, 2022
I. Major service lines:
- Data processing 79,045.85 74,784.68
- Customer Care services 6,903.93 6,254.80
- Recoverables 4,521.57 4,294.78
- Miscellaneous services 5,844.64 5,114.86
- Software license fee, development and support services 866.73 517.63
Total 97,182.72 90,966.75
II. Timing of revenue recognition:
- Revenue recognised at a point in time 96,887.08 90,768.14
- Revenue recognised over a period of time 295.64 198.61
Total 97,182.72 90,966.75
III. Primary geographical market:
- India 97,176.01 90,959.41
- Other countries 6.71 7.34
Total 97,182.72 90,966.75
C. Contract Balances
The following table provides information about contract assets and liabilities from contracts with customers.
(i) Contract Assets
March 31, 2023 March 31, 2022
Invoice raised during the period (7,367.74) (6,194.80)
Unbilled revenue recognized during the period 9,071.25 7,367.74
(ii) Contract Liabilities

a) Income received in advance
March 31, 2023 March 31, 2022
Opening balance 15.36 14.94
Invoice raised during the period (15.36) (14.94)
Advances received from customers and services not yet rendered - 15.36
Closing balance - 15.36
b) Unearned revenue
March 31, 2023 March 31, 2022
Opening balance 22.33 31.93
Invoice raised during the period 238.63 163.16
Revenue recognized during the period 227.31 172.76
Closing balance 33.65 22.33
269

The contract assets primarily relate to the Group’s rights to consideration for work completed but not billed at the
reporting date for services rendered. The contract assets are transferred to receivables when the rights become
unconditional. This usually occurs when the Group issues an invoice to the customer.
The contract liabilities includes income received in advance and pending to be recognized as income since obligation
is yet to be performed and invoice raised against unearned revenue.
NOTE 35 : FINANCIAL INSTRUMENTS AND RISK MANAGEMENT (IND AS 32 AND 109)

A. Categories of Financial Instruments
I. Financial Assets
March 31, 2023 March 31, 2022
Measured at fair value through profit or loss (FVTPL)
- Investments in mutual funds 32,983.44 31,694.77
Total 32,983.44 31,694.77
March 31, 2023 March 31, 2022
- Trade receivables 3,302.29 2,554.72
- Cash and Cash Equivalents 1,639.37 450.89
- Bank balances other than cash and cash equivalents 20,387.29 14,630.37
- Loans & advances 113.56 87.68
- Others 1,622.64 1,687.04
Total 27,065.15 19,410.70
II. Financial Liabilities

March 31, 2023 March 31, 2022
- Trade payables 4,685.25 4,895.07
- Lease liabilities 9,324.88 8,193.52
- Unpaid dividend 6,742.38 6,730.26
Total 20,752.51 19,818.85
270

B. Fair Value Measurement:
The following table shows the carrying amounts and the fair values of financial assets and liabilities, including their levels
in the fair value hierarchy.
Particulars Carrying Amount Fair Value

(In ` Lakhs) (In ` Lakhs)
Financial assets - Level 1 Level 2 Level 3 Total
At FVTPL
March 31, 2023
- Investment in Government Securities - - - - -
32,983.44 32,983.44 - - 32,983.44
March 31, 2022
- Investment in Government Securities - - - - -
31,694.77 31,694.77 - - 31,694.77
Note A) Fair value hierarchy used for Investments in Mutual Funds and Government Securities - Level 1. Valuation
techniques and key inputs - Quoted Net Asset Value/ Prices in active market.
Note B) The Group has not disclosed the fair values for financial assets such as trade receivables, cash and cash
equivalents, other bank balances, loans etc, because their carrying amounts are a reasonable approximation of fair value.
Note C) The Group has not disclosed the fair values for financial liabilities such as trade payables and lease liabilities
because their carrying amounts are a reasonable approximation of fair value.
There are no transfers between Level 2 and Level 3 during the period.
C. Financial risk management

The Group’s Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk
management framework. The Group’s business activities are exposed to a variety of financial risks, namely liquidity risk,
credit risk. Risk management policies have been established to identify and analyse the risks faced by the Group, to set
and monitor appropriate risk limits and controls, periodically review and reflect the changes in the policy accordingly.
The Group’s Audit Committee oversees how management monitors compliance with the risk management policies and
procedures, and reviews the adequacy of the risk management framework in relation to the risks faced by the Group. The
Audit Committee is assisted in its oversight role by internal audit. Internal audit undertakes review of risk management
controls and procedures and the results of the same are reported to the Audit Committee.
I. Credit Risk:
Credit risk is the risk of financial loss to the Group if a customer or counterparty to a financial instruments fails
to meet its contractual obligations, and arises principally from the Group’s receivables from customers and cash
and cash equivalents. The carrying amounts of financial assets represent the maximum credit risk exposure.
Credit risk encompasses both the direct risk of default and the risk of deterioration of credit worthiness as well as
concentration risk.
271

a) Loans & Advances
This consists of security deposits and advances given to employees. Security deposits are rental deposits
given to lessors and the Group assesses deposit balance on a periodical interval and estimated losses are
provided for. The Group also does not expect any losses on the employee advances since they are given only
to permanent employees of the Group.
b) Trade Receivables
The Group’s exposure to credit risk is influenced mainly by the individual characteristics of each customer.
However, management also considers the factors that may influence the credit risk of its customer base,
including the default risk of the industry.
The Group establishes an allowance for impairment that represents its expected credit losses in respect of
trade and other receivables. The management uses a simplified approach for the purpose of computation of
expected credit losses for trade receivables and an impairment analysis is performed at each reporting date.
The management has established a credit policy under which each new customer is analysed individually for
credit worthiness before the standard payment and delivery terms and conditions are offered. Credit period
varies from customers to customers and it starts from 10 days. The Group review includes external ratings,
customer’s credit worthiness, if they are available, and in some cases, bank references.
The Group’s customer base comprises of various mutual fund houses and corporates having sound financial
condition. An impairment analysis is performed at each reporting date for invoice wise receivables balances.
c) Cash and cash equivalents and deposits with banks

Cash and cash equivalents of the Group are held with banks which have high credit rating. The Group considers
that the cash and cash equivalents have low credit risk based on the external credit rating of the counterparties.
d) Investments in mutual funds

The credit risk for investments in mutual funds is considered as negligible as the counterparties are reputable
mutual fund agencies with high external credit ratings.
Financial assets for which loss allowance is measured using lifetime expected credit losses:
March 31, 2023 March 31, 2022
Trade receivables 3,437.37 2,667.19
Security deposits 1,323.81 1,585.66
Total 4,761.18 4,252.85
The movement in the allowance for impairment is as follows:

Particulars Trade Receivables Security Deposits
As at As at As at As at
March 31, March 31, March 31, March 31,
2023 2022 2023 2022
Opening Balance 112.47 191.02 23.69 248.45
Net remeasurement of loss allowance 22.61 (78.55) - (224.76)
Closing balance 135.08 112.47 23.69 23.69
272

II. Liquidity Risk:
Liquidity risk is the risk that the Group will face in meeting its obligations associated with its financial liabilities that are
settled by delivering cash or other financial assets. The Group’s approach in managing liquidity is to ensure that it will
have sufficient funds to meet its liabilities. In doing this, management considers both normal and stressed conditions.
The Group also monitors the level of expected cash inflows on trade and other receivables together with expected
cash outflows on trade and other payables.
Exposure to liquidity risk:

The following are the remaining contractual maturities of financial liabilities at the reporting date. All amounts are
gross and undiscounted.
Amount Total Less than More than
1 year 1 year
March 31, 2023
- Trade Payables 4,685.25 4,685.25 4,685.25 -
- Unpaid dividend 6,742.38 6,742.38 6,742.38 -
- Others - - - -
20,752.51 20,752.51 13,399.47 7,353.04
March 31, 2022
- Trade Payables 4,895.07 4,895.07 4,895.07 -
- Unpaid dividend 6,730.26 6,730.26 6,730.26 -
- Others - - - -
19,818.85 19,818.85 13,582.28 6,236.57
The following are the remaining contractual cash flows for financial assets at the reporting date. All amounts are
gross and undiscounted.
Amount Total Less than More than
1 year 1 year
March 31, 2023
Financial assets:
- Cash and cash equivalents 1,639.37 1,639.37 1,639.37 -
- Bank balances other than cash and 20,387.29 20,387.29 20,387.29 -
cash equivalents
- Investments 32,983.44 32,983.44 32,983.44 -
- Loans & Advances 113.56 113.56 90.31 23.25
- Others 1,622.64 1,622.64 340.68 1,281.96
60,048.59 60,048.59 58,743.38 1,305.21
March 31, 2022
Financial assets:
- Cash and cash equivalents 450.89 450.89 450.89 -
- Bank balances other than cash and 14,630.37 14,630.37 14,630.37 -
cash equivalents
- Investments 31,694.77 31,694.77 31,694.77 -
- Loans & Advances 87.68 87.68 66.38 21.30
- Others 1,687.04 1,687.04 534.96 1,152.08
51,105.47 51,105.47 49,932.09 1,173.38
273

III. Market Risk:
Market risk is the risk of changes in market prices due to foreign exchange rates, interest rates which will affect the
Group’s income or the value of its financial instruments. The objective of market risk management is to manage and
control market risk exposures within acceptable parameters, while optimising the return.
(i) Currency Risk:

The functional currency of the Group is INR. The Group has transactions in foreign currency for software
development income and software license purchases, which are denominated in Euro/USD. The Group has not
entered into any hedges for currency risk. The Group’s foreign currency exposure is limited and is not material
to the size of its operations.
The summary quantitative data about the Group’s exposure to currency risk is as follows:
Particulars INR USD Euro

March 31, 2023
Trade Receivables - - -
Net exposure in respect of recognised assets and liabilities - - -
March 31, 2022
Trade Receivables - - -
Net exposure in respect of recognised assets and liabilities - - -
Sensitivity analysis
A reasonably possible strengthening/weakening of EUR/USD against INR would have affected the measurement
of financial instruments denominated in foreign currency and affected equity and Statement of Profit or Loss by
the amounts shown below. This analysis assumes that all other variables remain constant.
Particulars Statement of Profit or Loss Equity, net of tax

Increase Decrease Increase Decrease
March 31, 2023
USD (5% movement) - - -
EUR (5% movement) - - -
March 31, 2022
USD (5% movement) - - -
EUR (5% movement) - - -
(ii) Price Risk

Exposure
Price risk is the risk that the value of the financial instrument will fluctuate as a result of changes in market
prices and related market variables including interest rate for investments in debt oriented mutual funds and
debt securities, caused by factors specific to an individual investment, its issuer and market. The Group’s
exposure to price risk arises from diversified investments in mutual funds and classified in the balance sheet at
fair value through profit or loss.
Sensitivity Analysis
The table below summarises the impact of increases/decreases of the Net Asset Value (NAV) on the Group’s
investment in Mutual fund and profit for the period. The analysis is based on the assumption that the NAV
increased by 5% or decreased by 5% with all other variables held constant, and that all the Group’s investments
in mutual funds moved in line with the NAV.
274

Particulars Sensitivity of Profit or loss

As at As at
March 31, 2023 March 31, 2022
NAV - Increase 5% 1,649.17 1,584.74
NAV - Decrease 5% (1,649.17) (1,584.74)
(iii) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of
changes in market interest rates. Interest rates are sensitive to many factors, including governmental, monetary
and tax policies, domestic and international economic and political considerations, fiscal deficits, trade surpluses
or deficits, regulatory requirements and other factors beyond the Group’s control. Changes in the general level
of interest rates can affect the profitability by affecting the spread between, amongst other things, income which
Group receives on investments in debt securities, the value of interest-earning investments, it’s ability to realise
gains from the sale of investments. Interest rate risk primarily arises from floating rate investment. The Group’s
investments in floating rate are primarily short-term, which do not expose it to significant interest rate risk.
NOTE 36 : SHARE-BASED PAYMENTS

A. Description of share-based payment arrangements:
Share option plans (equity settled):
CXOs Others
Number of options granted 136,651 112,344 433,908 273,148 300,000
Date of grant April 1, 2019 April 1, 2019 September July 29, 01 April
1, 2020 2021 2022
Vesting period 10% of 25% of 25% of 25% of "25% of
options at options at options at options at options at
the end of the end of the end of the end of the end of
10% of 25% of 25% of 25% of 25% of
the end of the end of the end of the end of the end of
40% of 25% of 25% of 25% of 25% of
the year 3; the end of the end of the end of the end of
and year 3; and year 3; and year 3; and year 3; and
40% of 25% of 25% of 25% of 25% of
the year 4. the end of the end of the end of the end of
year 4. year 4. year 4. year 4."
Exercise price per share (in `) 614.70 614.70 717.80 1,791.40 2,312.35
Exercise period 4 years from 4 years from 4 years from 4 years from 4 years from
vesting date vesting date vesting date vesting date vesting date
Market price per share immediately prior to 717.80 717.80 1,234.00 3,169.30 2,316.00
grant date (in `)
Intrinsic value per share (in `) 103.10 103.10 516.20 1,377.90 3.65
275

The number of options granted is detailed as below:
CXOs Others
Employees of the Company 136,651 79,636 368,782 250,420 262,981
Employees of CAMS Insurance Repository - 10,672 17,576 914 10,243
Services Limited
Employees of Sterling Software Private - 22,036 45,585 20,550 23,300
Limited
Employees of CAMS Financials services - - 1,965 1,264 3,476
Private Limited
Total 136,651 112,344 433,908 273,148 300,000
B. Measurement of fair values

The fair values of the options issued have been arrived at using the Black Scholes Model.
The key inputs used in measurement of fair values at the grant date of share options are as follows:

CXOs Others
Fair value per share of the option (in `) 355.01 338.40 575.01 1,668.31 559.17
Market price per share immediately prior to 717.80 717.80 1,234.00 3,169.30 2,316.00
grant date (in `)
Exercise price 614.70 614.70 717.80 1,791.40 2,312.35
Expected volatility 47.90% 47.70% 18.38% 18.98% 19.45%
Expected life of the option 5.1 years 4.5 years 4.5 years 4.5 years 4.5 years
Dividend yield 1.80% 1.80% 1.90% 0.84% 1.46%
Risk free interest rate per annum 7.50% 7.30% 5.35% 5.59% 5.99%
Expect volatility and term of the options are based on an evaluation of the historical prices at which the Group’s shares
were acquired by its investors. The expected term of the instruments is based on general option holder behaviour.
C. Reconciliation of outstanding share options:

The number and weighted average exercise prices of share options are as follows:
Batch 1

exercise exercise
price price
Outstanding at April 01 614.70 124,552 614.70 195,363
Lapsed during the period 614.70 565 614.70 28,592
Outstanding at March 31 614.70 81,845 614.70 124,552
Exercisable at March 31 614.70 28,305 614.70 68,976
276

Batch 2
exercise price exercise price
Outstanding at 1 April 717.80 309,110 717.80 433,908
Lapsed during the period 717.80 10,072 717.80 54,586
Outstanding at 31 Mar 717.80 261,528 717.80 309,110
Exercisable at 31 Mar 717.80 86,341 717.80 44,481
Batch 3
Outstanding at April 01 1,791.40 264,631 - -
Granted during the period - - 1,791.40 273,148
Exercised during the period 1,791.40 10,474 - -
Lapsed during the period 1,791.40 9,646 1,791.40 8,517
Outstanding at March 31 1,791.40 244,511 1,791.40 264,631
Exercisable at March 31 1,791.40 61,638 - -
Batch 4
Outstanding at April 01 - - - -
Granted during the period 2,312.35 300,000 - -
Exercised during the period - - - -
Lapsed during the period 2,312.35 27,597 - -
Outstanding at March 31 2,312.35 272,403 - -
Exercisable at March 31 - - - -
D. Expenses recognised in Statement of Profit or Loss:

For details on the employee benefit expenses, please refer Note 21.
NOTE 37 : CAPITAL MANAGEMENT

The Group’s policy is to maintain a strong capital base so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The Group monitors the return on capital as well as the level of dividends on its equity
shares. The Group’s objective when managing capital is to maintain an optimal structure so as to maximize shareholder value.
The Group is fully equity financed which is evident from the capital structure. Further, the Group has always been a net cash
Group with cash and bank balances along with investment which is predominantly investment in liquid and short term mutual
funds being far in excess of financial liabilities.
277

NOTE 38 : REMUNERATION TO AUDITORS
March 31, 2023 March 31, 2022
Statutory Audit Fee 29.40 27.90
Limited Review Audit Fee 11.25 11.25
Tax Audit Fee 7.25 7.25
GST audit fees 9.90 9.90
Other certifications Fee 6.20 4.97
Reimbursement of Expenses 0.99 0.35
Total 64.99 61.62
NOTE 39 : PROVISION, CONTINGENT LIABILITIES AND CONTINGENT ASSETS

I. Provision for claims
March 31, 2023 March 31, 2022
Opening Balance 6,874.79 6,874.79
Provision made during the period - -
II. Contingent liabilities and commitments (to the extent not provided for)
March 31, 2023 March 31, 2022
Estimated amount of contracts remaining to be executed on capital account
990.11 152.41
and not provided for
Income Tax matters 1,724.06 573.79
On account of processing errors - 6.49
Others 9.06 5.60
Total 2,723.23 738.29
There are no other amounts required to be disclosed as contingent liabilities on account of pending litigations, other than
the above.
There are no contingent assets resulting from the aforesaid litigation.
278

NOTE 40 : ADDITIONAL INFORMATION PURSUANT TO PARA 2 OF GENERAL INSTRUCTION FOR
PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS
For the Year ended March 31, 2023
S. Name of the Entity Net Assets i.e total Share in Profit or loss Share in Other Share in Total
No. assets minus total Comprehensive Income Comprehensive Income
liabilities
As % of In ` Lakhs As % of In As % of In As % of In
Consolidated Consolidated ` Lakhs Consolidated ` Lakhs Consolidated ` Lakhs
Net Assets Profit Other Total
Comprehensive Comprehensive
Income Income
Parent
1 Computer Age Management 93.13% 72,805.49 96.45% 27,454.03 50.38% (10.56) 96.49% 27,443.47
Services Limited
Indian subsidiaries
2 CAMS Investor Services 6.06% 4,739.26 2.33% 664.61 16.98% (3.56) 2.32% 661.05
Pvt Ltd
3 CAMS Financial Information 0.48% 376.27 -1.24% (351.88) -25.05% 5.25 -1.22% (346.63)
Services Pvt Ltd
4 Sterling SoftwarePvt Ltd 3.71% 2,901.44 2.71% 772.42 68.03% (14.26) 2.67% 758.16
5 CAMS Insurance 5.99% 4,685.83 0.49% 140.80 -10.21% 2.14 0.50% 142.94
Repository Services Ltd
6 CAMS Payment Services 3.45% 2,693.84 0.37% 106.15 0.00% - 0.37% 106.15
Private Limited
7 Fintuple Technologies Pvt 0.21% 162.45 -0.47% (133.44) 0.00% - -0.47% (133.44)
Ltd
Foreign subsidiaries
8 Sterling 0.00% - 0.00% (0.06) 0.19% (0.04) 0.00% (0.10)
Software(Deutschland)
GmbH
9 Consolidation adjustments -13.04% (10,192.12) -0.66% (189.19) -0.33% 0.07 -0.66% (189.12)
Total 100.00% 78,172.46 100.00% 28,463.44 100.00% (20.96) 100.00% 28,442.48
10 Non-Controlling Interests 74.74 -0.22% (61.39) 0.00% - -0.22% (61.39)
For the Year ended March 31, 2022

liabilities
As % of In As % of In As % of In As % of In
Consolidated ` Lakhs Consolidated ` Lakhs Consolidated ` Lakhs Consolidated ` Lakhs
Income Income
Parent
1 Computer Age Management 93.35% 60,457.21 100.86% 28,941.42 251.82% 104.28 101.08% 29,045.70
Services Limited
Indian subsidiaries
2 CAMS Investor Services 6.30% 4,078.21 3.83% 1,099.98 5.05% 2.09 3.84% 1,102.07
Pvt Ltd
3 CAMS Financial Information 0.78% 502.90 -0.87% (248.89) -0.65% (0.27) -0.87% (249.16)
Services Pvt Ltd
4 Sterling SoftwarePvt Ltd 3.31% 2,143.28 3.84% 1,100.94 -158.37% (65.58) 3.60% 1,035.36
279

liabilities
As % of In As % of In As % of In As % of In
Consolidated ` Lakhs Consolidated ` Lakhs Consolidated ` Lakhs Consolidated ` Lakhs
Income Income
5 CAMS Insurance 7.01% 4,542.89 1.49% 427.81 2.97% 1.23 1.49% 429.04
Repository Services Ltd
6 CAMS Payment Services 4.00% 2,587.69 0.31% 89.58 0.00% - 0.31% 89.58
Private Limited
7 Fintuple Technologies Pvt 0.00% - -
Ltd
Foreign subsidiaries
8 Sterling 0.00% 0.92 -0.14% (41.32) -0.85% (0.35) -0.15% (41.67)
Software(Deutschland)
GmbH
9 Consolidation adjustments -14.74% (9,549.32) -9.32% (2,674.83) 0.02% 0.01 -9.31% (2,674.82)
Total 100.00% 64,763.78 100.00% 28,694.69 100.00% 41.41 100.00% 28,736.10
10 Non-Controlling Interests 0.00% - 0.00% - 0.00% - 0.00% -
NOTE 41 : SEGMENT REPORTING

There are no segments that have met the threshold criteria as per paragraph 13 of Ind AS 108 - Operating Segments and
accordingly no disclosure were made.
NOTE 42 : BUSINESS COMBINATIONS

Acquisition during the year ended March 31, 2023
On April 05, 2022, the Group has acquired 54% of stake in “Fintuple Technologies Private Limited” and gained control as a
subsidiary for a consideration of ` 1,123.26 Lakhs.
Fintuple is a provider of digital onboarding services for AIF and PMS investors using a cutting edge technology platform with
E-kyc and other digital capabilities. This has synergies with Group’s existing businesses in the AIF vertical and a common go
to market will benefit the Group.
At April 05, 2022, the fair value of assets and liabilities acquired have been determined by the Company and accounted for in
accordance with IND AS 103 – “Business Combination””
280

a) Details of purchase consideration, net assets acquired and goodwill
Acquisition related cost
The Group incurred acquisition related cost of ` 12.50 Lakhs on professional fees. These costs have been included in “other
expenses” of FY22
The following table summaries the recognised amounts of assets acquired and liabilities assumed at the date of acquisition
Particulars On the date of acquisition

In ` Lakhs
Property, plant and equipment 3.23
Total Non-Current Assets 3.23
2 Current assets
Financial Assets
- Trade Receivables 0.22
- Cash and Cash equivalents 11.07
Current Tax Assets (Net) 8.86
Other Current Assets 1.95
Total Current Assets 22.10
Fair value of assets acquired 25.33
1 Non-current liabilities -
- Dues to MSME 2.82
- Dues to Others 8.70
- Other Financial Liabilities 40.50
Other Current Liabilities 77.65
Total Current Liabilities 129.68
Fair value of liabilities acquired 129.68
Total Identifiable net assets / (liabilities) acquired (104.35)
b) Goodwill
Paticulars Amount in lakhs
Consideration transferred* 723.03
Non-controlled interest in the acquired entity 136.13
Less: Net Identifiable assets acquired (104.35)
Goodwill 963.50
*Consideration transferred excludes ` 400.23 lakhs contributed as equity capital and share premium at the time of acquisition. Hence the total
consideration paid is ` 1,123.26 lakhs
c) Disclosure of the revenue and profit for current reporting period.
Paticulars Revenue Profit after tax
I. Since the acquisition date* 212.95 (133.44)
II. Had it been at the beginning of the reporting period 212.95 (133.44)
* For consolidation, the subsidiary accounts has been considered from April 1, 2022 as there no transactions in between inception of financial year
and date of acquisition
281

Acquisition consummated after March 31, 2023
On March 05, 2023, Computer Age Management Services Limited, entered into a definitive agreement to acquire 100% of
The First Tranche of payment amounting to ` 4,563 lakhs was made on April 04th 2023 resulting in acquisition of 55.42% on
the existing paid up share capital of TAIPL (52% on fully diluted basis) effective from that date. No estimate has been made
in the current year (FY23) for any future payments that may have to be made under this agreement for acquiring the balance
holding of TAIPL as the outflow will be based on the earnings at a future date, which cannot be reasonably estimated presently.
been included in “Other expenses”
NOTE 43 : EVENTS OCCURRING AFTER BALANCE SHEET DATE

On March 05, 2023, the computer Age Management Services Limited, entered into a definitive agreement to acquire 100% of
The First Tranche of payment amounting to ` 4,563 lakhs was made on April 04, 2023 resulting in acquisition of 55.42% of the
existing paid up share capital of TAIPL (52% on fully diluted basis) effective from that date.
In accordance with Ind AS10, this Business combination is a Non- Adjusting event and hence no effect has been given in the
financials for the year ending March 31, 2023 . Further, no estimate has been made in the current year (FY23) for any future
payments that may have to be made under this agreement for acquiring the balance holding of TAIPL as the outflow will be
based on the earnings at a future date, which cannot be reasonably estimated presently.
been included in “Other expenses”.
NOTE 44 : IND AS 12 INCOME TAXES

Tax reconciliation is provided below For the Year Ended ended March 31, 2023
Particulars Rate
Tax at Statutory Rate 25.17%
Permanent disallowance 0.44%
Tax incentive -0.23%
Indexation benefit on LTCG -0.16%
Reduced tax rate on LTCG 0.00%
Earlier period tax reversal -0.30%
Effects of inter company transaction 0.13%
DTA not recognized on unabsorbed business loss 0.09%
Total 25.13%
NOTE 45 : LONG TERM CONTRACTS

The Group has not entered into any long term contracts and derivative contracts during the year.
282

NOTE 46 : OTHER STATUTORY NOTES
The Company has not traded or invested in Crypto currency or Virtual Currency during the financial year.
The Company has complied with the number of layers prescribed under clause (87) of section 2 of the Act read with the
Companies (Restriction on number of Layers) Rules, 2017.
The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered
or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or
any other relevant provisions of the Income Tax Act, 1961.
The Company does not have any benami property, where any proceeding has been initiated or pending against the Company
for holding any benami property. Title deeds of immovable property were held in the name of the company.”
NOTE 47 : UTILISATION OF BORROWED FUNDS AND SHARE PREMIUM

(A) The company has not advanced or loaned or invested funds (either borrowed funds or share premium or any other
sources or kind of funds) to any other persons or entities, including foreign entities (Intermediaries) with the understanding
(whether recorded in writing or otherwise) that the Intermediary shall whether directly or indirectly lend or invest in other
persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate Beneficiaries) or provide
any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(B) The company has not received any fund from any persons or entities, including foreign entities (Funding Party) with the
understanding (whether recorded in writing or otherwise) that the company shall whether directly or indirectly lend or
invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate
Beneficiaries) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries, “
NOTE 48 : COMPARATIVE FIGURES

Comparative figures have been regrouped/ reclassified wherever necessary to correspond with the current year’s classification
/ disclosure.
NOTE 49 : ROUNDING OFF

All figures reported in the financials statements and related notes are rounded off to nearest lakh.

Sd/- Sd/- Sd/- Sd/-

Sd/- Sd/-

283
COMPUTER AGE MANAGEMENT SERVICES LIMITED
284
FORM AOC-1
Statement Containing salient features of the financial statement of subsidiaries
(Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules, 2014)
S. Name of the Entity Relationship Share Reserves Total Total Investments Turnover Profit Provision Profit Total Other Total % of
No. Capital and Assets Liabilities before for after Comprehensive Comprehensive Shareholding
Surplus Taxation Taxation Taxation Income income for the
(net of tax) year
1 Computer Age Management Parent 4,899.36 67,906.13 101,029.80 28,224.31 47,894.99 92,861.69 36,554.73 9,100.70 27,454.03 (10.56) 27,443.47 -
Services Limited
2 CAMS Investor Services Subsidiary 74.50 4,664.76 5,428.21 688.96 4,302.65 1,794.19 896.92 232.31 664.61 (3.56) 661.05 100%
Pvt Ltd
3 CAMS Financial Information Subsidiary 990.00 (613.73) 444.22 67.95 - 2.66 (465.67) (113.79) (351.88) 5.25 (346.63) 100%
Services Pvt Ltd
4 Sterling SoftwarePvt Ltd Subsidiary 50.95 2,850.49 5,274.05 2,372.61 582.04 7,321.72 1,029.97 257.55 772.42 (14.26) 758.16 100%
5 CAMS Insurance Repository Subsidiary 454.17 4,231.66 5,394.34 708.51 4,455.39 1,779.02 183.64 42.84 140.80 2.14 142.94 100%
Services Ltd
6 CAMS Payment Services Subsidiary 2,500.00 193.84 2,694.81 0.97 - - 141.85 35.70 106.15 - 106.15 100%
Private Limited
7 Sterling Software Subsidiary 746.79 (746.79) - - - - (0.06) - (0.06) (0.04) (0.10) 100%
(Deutschland) GmbH
8 Fintuple Technologies Subsidiary 82.88 79.57 237.85 75.40 - 207.78 (133.44) - (133.44) - (133.44) 54%
Private Limited
Registered Office
New No. 10, Old No. 178,
MGR Salai, Nungambakkam,
Chennai - 600 034.
www.camsonline.com

2ebec1a9-c62e-4343-a994-10bb5a9c4860

Uploaded by

Copyright:

Available Formats

2ebec1a9-c62e-4343-a994-10bb5a9c4860

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

2ebec1a9-c62e-4343-a994-10bb5a9c4860

Uploaded by

Copyright:

Available Formats

13th July 2023

BSE Limited, National Stock Exchange of India Limited

Scrip Code: 543232 Trading Symbol: CAMS

Dear Sir / Madam,

ANNUAL REPORT 2022-23

What’s Inside Basis of Reporting

224 Consolidated Financial Statements

A technology company revolutionising

INNOVATE THROUGH ENSURE TEAM

COMPLY AND WIN THROUGH

We are recognised by leading institutions

Computer Age Management Services Limited

100% 100% 100% 100%

100% 53.99% 55.42%

Shareholding Pattern FY23

Business segment offerings

Anchored in the core

CAMS: Leader in India’s MF space

Key Business Highlights during 2022-23

April 28, 2022 CAMSfinserv AA will adopt some of the most

CAMSfinserv is one of the first licensees to launch November 21, 2022

February 14, 2023 April 4, 2023

CAMS delivers exceptional performance

CAMS-serviced MF AUM (` trillion) SIP registration (in lakh)

FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23

Gross SIP collections registration (` Crore) Transaction volume (million)

FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23

` 27.3 465.7 35.4 324

25.7 57.4 112.8 ` 151.8

*As on March 31, 2023 | **During FY 2022-23

Business segment offerings

Spreading out, eyeing newer

We offer platform-based services to investors such Key developments FY23

Our market position

Insurance Repository & Services

We offer policyholder platform through insurance Key developments FY23

Account Aggregator Services

We have also collaborated with Microsoft India

Our market position

FIU – Financial Information User; FIP – Financial Information Provider;

Our market position

KYC Registration Agency

Key developments FY23

Electronic Payment Collection

Key developments FY23

Fintuple Technologies Private Limited

Successful Engagements IP build-outs

As a technology-driven organisation and Mr. Dinesh Kumar Mehrotra

CAMS deepened its digital footprint Mr. Anuj Kumar

Key highlights FY 2022-23

Our value impact across

CAMS: Leader in India’s MF space

` 9,718.27 million ` 421.23 million ` 2,852.48 million

Ensuring efficient services to customers

` 27.3 trillion ` 35.4 million ` 465.7 million

15.3 million 25.7 million 57.4 million

112.8 lakh ` 151.8 trillion

Creating employment and driving people development

2,783 29.46% 26,252 hours

Building better communities