Unleashing

the Power of Data &

AI Enabled Tech
Services
Annual Report
2022-23

Intense Technologies Limited

Annual Report 2022-23

Tried, Tested,
and Trusted by Fortune
500s, our enterprise
so ware products are
used globally for the
digitalization of customer
experience lifecycle.

An Insight into Intense Technologies

Intense Technologies Limited is a publicly listed, portfolio, our 500+ skilled workforce bring a deep
global enterprise software products and services industry experience, together with New IT and skills
company, headquartered in India with a strong to drive business value and growth.
presence in BFSI, Telecom and Government verticals.
Designed for building digital ecosystems with
Our solutions are tried, tested and trusted by
business process automation, Data Management,
Fortune 500s for the digitalization of their customer
Data & AI-Tech, and personalized Digital Customer
experience lifecycle.
Engagement, Intense Technologies Limited
Intense with its continuous innovation has processes billions of dollars of critical data, helps
contributed to the growth of marquee enterprise onboard more than 3 million customers per month,
customers in the field of Telecom, Banking, sends more than 400 million notifications every day,
Utilities and Insurance and has played a vital role in and has a 500 million customer base across
e-governance projects. We serve customers across engagements. We are focused on leveraging next-
4 continents, are a leading player in the telecom and generation technologies
private sector banks and insurance domain in India. to enable end-to-end digital transformation
With 20+ years of experience in telecom and for global customers.
insurance domains, and an award-winning product
 Intense Technologies Limited

Board of Directors

Mr. C.K. Shastri Mr. Jayant Dwarkanath Ms. Anisha Shastri

Chairman & Managing Director Whole-time Director Whole-time Director

Mr. C.K. Shastri founded Intense Mr. Jayant Dwarkanath is a Bachelor of Ms. Anisha Shastri Chidella comes with a
Technologies – pioneering in the domains of Engineering and an MBA from Osmania diverse experience of working with large
digital transformation and customer University. He looks after the overseas enterprises, SMEs and startups. Her
experience – putting India on the global operations of the company and has been expertise lies in building corporate and
stage in enterprise software products. instrumental in tie-ups with global majors product strategies. Having consulted for
for overseas distribution of the company's large clients in the Telecommunications,
Under his leadership, Intense grew from
software products. He is exploring BFSI and Health Care industries, she comes
strength to strength to be eventually
opportunities in the US with immense domain knowledge in these
recognized as a global technology leader.
and Europe. industries and a strong passion to solve
He believes in ‘leadership through problems. She holds an MBA in
He does not see the world in terms
transparency and has set an example in Entrepreneurship from Babson College,
of clients or partners, rather as one
corporate excellence by adhering to the best U.S.A and a Bachelor of Engineering,
comprising of excellence-oriented
practices in management. He is a people Information Technology from Osmania
corporations to whom he would like
person, passionate about building teams University. Currently, Anisha handles
to hold out the invitation – to join our
and mentoring miracles. business strategy and overseas growth for
network and benefit from
Intense.
our enterprise agility.

Independent & Non-Executive

Mr. Tikam Sujan Mrs. V. Sarada Devi Mr. Pavan Kumar Pulavarty
M,M,M,M,M
Mr. Tikam Sujan is a strategic investor in the Mr. Pavan Kumar Pulavarty is a Post-Graduate
technology space based at Miami, Florida, USA Mrs. Sarada Devi is a Post Graduate and LLB. in Business Administration, CPA, ACA and has
and is the Chairman of a successful IT services She is a practicing lawyer with deep interests in an experience of over 20 years in Financial
providing business in North & South America. social welfare and philanthropic activities. She Management, Accounting, Financial Systems
He has over 24 years of experience in operating has been associated with various NGOs like and Information Technology Management. He is
in the American geography. Bharat Vikas Parishad and National Institute for working with Accenture, USA as Enterprises-
the Blind. wide Financial Systems Consultant since 2005.
Mr. Shyamsunder Mallick
Vadlamani M,M,C,C,M Mr. Kandukuri Srivath Shanker Rao
C,C,M,M,C
Mr. Shyamsunder Mallick Vadlamani holds a degree
in Mechanical Engineering and is an esteemed
Board Committees
Mr. Kandukuri Srivath Shanker Rao is a C - Chairman M - Member
alumnus of the Institute of Rural Management
Chartered Civil Engineer and a Fellow of the
Anand (IRMA). He boasts of an extensive
Indian Institute of Engineers. He has held Audit Committee
experience in diverse roles that have significantly
several Senior Executive positions in large
contributed to driving business growth. Mr.
Vadlamani's professional journey includes tenures Public Sector organizations. A visionary, he has Nomination and Remuneration Committee
at M/s. Hindustan Packaging Company Limited and led large successful teams and projects to
A&R Packaging Limited. Subsequently, he fruition. He has been a Co-opted Member of the
Risk Management Committee
embarked on the path of entrepreneurship by Standing Committee of Public Enterprises
establishing Superpack Packaging Machines (SCOPE), a Panel Arbitrator, Member of the
Private Limited; Kytes Marketing Pvt. Ltd. Beyond Technical Committee of Water Supply Board to Stakeholders' Relationship Committee
his professional pursuits, Mr. Vadlamani is an Vizag Steel Plant, and Coopted member of Cost
enthusiastic and engaged member of Heartfulness, and Time overruns of the Bureau of Public Corporate Social Responsibility Committee
at Kanha Shanti Vanam, a serene enclave near Enterprises. For three years he was on a foreign
Hyderabad in Telangana. He wholeheartedly assignment during which he held the position of
dedicates himself as a volunteer, actively Secretariat of Light Industries, Libya
participating in a multitude of activities for this
esteemed organization
Annual Report 2022-23

C. K. Shastri,
Founder & Managing Director

Chairman's Message

By bringing in new capabilities, and

new features we play a vital role in our
customers’ business and technology
transformation goals.

Dear Stakeholder,

Our performance during FY23 has been a While we have not been immune to the impact
period of consolidation and transformation, of 'The Great Resignation' we have made
and I believe we are standing at the threshold necessary adjustments by significantly
of newer opportunities. We see huge scope for increasing wages to retain and attract
our tech enabled services backed by robust IP exceptional talent. We have strengthened our
created over the years and a strong focus in internal processes, invested strongly in our
Data, AI and Cloud. We have partnered with people, leadership, and technology innovation
hyperscalers like AWS, Oracle, IBM to be a to accelerate growth, which has further added
preferred partner to customers seeking to use to our cost structure. The company has
cloud capabilities. delivered mission-critical projects successfully,
this has helped us in improved cash flows and
Additionally, we are focused on government
an opportunity to invest in growth.
vertical for digital transformation of large
projects. We have initiated "Project Butterfly" - a project
with a 3 year vision for both top-line and
We are bringing the power of AI, data, and
bottom-line. The required investments towards
cloud to accelerate transformation, improve
this have been budgeted.
customer success, reimagine business
processes, and boost productivity. Advanced We have invested in building globally
technologies - especially Data in tandem with recognized IP assets; in the areas of Data, AI-
AI and cloud - are creating performance driven Digital Engagement. I'm extremely
opportunities that are reshaping these proud to share that our UniServe™ NXT Digital
dynamics in significant ways. They are helping Suite was rated the best, ranked Number One
companies to rapidly create business value. in Gartner Peer Insights 2022 by customers
 Intense Technologies Limited

Consistently paying employees ample opportunities to learn and

grow in Data, AI and Cloud. We are proud of
dividends for the our employees and our journey thus far would
have been impossible without their unstinting
last ve years. efforts.

In line with our commitment to Corporate

securing a 4.7 Rating out of 5 vindicating our Social Responsibility, our initiative "In10s Disha"
focus on customer-first approach, tech strives to forge significant influence within
innovation, and customer experience. I'm also marginalized communities. The initiatives span
happy to share that Intense Technologies the entire trajectory of a child's development,
achieved Leader Position in Quadrant ranging from mentoring, provisioning
Knowledge Solutions' 2023 SPARK Matrix for educational materials, kits, and books, to
Customer Communications Management. This facilitating technology access, and medical
recognition follows the previous year where we assistance. Furthermore, our impact extends to
were positioned in the 2022 SPARK Matrix for old-age homes, orphanages, and the
Customer Communication Management by underprivileged. We believe in creating an
Quadrant Knowledge Solutions. impact in the society while enabling a platform
to engage employees through volunteering
The year gone by has also seen new leadership activities.
hiring with Nitin Sarda joining the company as
our CFO. Prior to Intense, Nitin worked with We are pleased to say that we have been
Ernst & Young, GeneSys Biologics, and Wafi paying dividends consistenly for the past five
Group, UAE. A results-oriented finance years.
professional, he comes to us with extensive I foresee exciting possibilities and progress into
and rich global experience in shareholder a future filled with more potential, and more
value creation, corporate governance, business shared advances.
partnering, mergers and acquisitions, and
more. We thank all the stakeholders – customers,
partners, employees, financial institutions, and
We express our deepest gratitude to our banks for their immense faith in the company.
outgoing CFO, Madhukar Nayak, for his
immensely successful 25-year career with Thank you all for your continued support.
Intense. Although retiring from his current role,
Nayak will remain an esteemed member of our
Advisory Board as a Consultant.
Sincerely
Our new organization structure is designed to
deliver value to all our stakeholders,
employees, and customers. As I look ahead, I
am optimistic of the opportunity ahead of us. C. K. Shastri
We have long established paths for employee Founder & Managing Director
Intense Technologies Ltd
upskilling and reskilling, providing our
Annual Report 2022-23

Basis of Reporting
We have based our Annual Report on the
Our ndamental principles for transparency and
disclosures beyond statutory norms.
purpose is to meet Through this Report, we intend to
communicate about how our

the needs of organisation's strategy, governance,

performance and prospects lead to the

stakeholders to creation of value over the short, medium

and long term. The aim is to enrich our
reporting for all stakeholders by
generate long-term providing information on our value
creation process using the inter-linkages
sustainable results. of multiple capitals.

This report is prepared in accordance

with the Companies Act, 2013 (and the
Rules made thereunder), Indian
Accounting Standards, the SEBI (Listing
Obligations and Disclosure
Requirements) Regulations, 2015 and the
Secretarial Standards.
 Intense Technologies Limited

Inclusivity
We commit accountability to stakeholders who are impacted, directly or
indirectly, by our organisation. We have mapped our stakeholders and
have processes to ensure inclusion of their concerns and expectations.
We continue to develop our stakeholder engagement and sustainability
capacity at corporate and manufacturing levels. We cover key material
aspects that have been identified through our ongoing stakeholder
engagement and are addressed by various programmes or action points
with measurable targets.

This report covers financial and non-financial information and activities

of Intense Technologies Limited (“the Company”) during the period
April 1, 2022 to March 31, 2023.

Forward-Looking Our sustainable approach

Statements towards Environment
In this Annual Report, we have disclosed Our fundamental purpose is to meet
forward-looking information to enable the needs of stakeholders to generate
investors comprehend our prospects long-term sustainable results. Besides
and take informed investment decisions. sustained performance,
These include all statements other than environmental, social and governance
statements of historical fact, including stewardship is a key factor for holistic
those regarding the financial position, business growth to deliver value
business strategy, management plans across magnitudes
and objectives for future operations. and achieve sustainable returns.
We cannot guarantee that these
forward-looking statements would be
fully realised, although we believe we
have been prudent in our assumptions.
Annual Report 2022-23

A data driven company,

we empower enterprises
to unlock the ll potential
of their data with the help
of our data solutions and
services.
 Intense Technologies Limited

Intense Technologies - A data driven company

Intense Technologies is a global enterprise software As a consequence of our deep capabilities
products and services company with customers and the trust of our customers in us, our
platform UniServeTM NXT has been ranked
across 4 continents; with 20+ years of experience in
globally No.1 by customers in the Gartner
telecom and BFSI domains, and an award-winning Peer Insights, 2022 and we've been
product portfolio. Fortune 500s use our Digital consistently recognized in the Gartner Market
Customer Experience platform, UniServeTM NXT to Guide, Aspire Leaderboard, and SPARK
execute their digital-first objectives and reap benefits Matrix for Customer Communication
Management.
of improved CX index, reduced operations costs, and
improved revenues. Intense with its continuous Intense's expertise in Cloud Ready Solutions with
innovation has contributed to the growth of marquee Omni channel access from Web Applications & Mobile
enterprise customers in the field of Telecom, Banking, app have further enhanced customer experience.
Utilities and Insurance and has played a vital role in e- Backed by innovative technology accelerators such as
governance projects where we are growing our AI, BPM, low-code, Microservices and comprehensive
eminence as the preferred partner for technology, data management capabilities, we believe that
and digital engagement services. leveraging technology to deliver mission critical
enterprise class applications at scale is the
cornerstone of the business impact we deliver.
 Annual Report 2022-23

non-financial performance of our business.

Report. This Report includes financial and
We are happy to present our 33rd Annual
Annual Report 2022-23

Index

12-23 24-109
Introduction Statutory Section
12 Evolution of Data-driven 24 Notice to Shareholders
Enterprise
47 Boards Report
14 Our Products & Tech-enabled
Services 79 Management
Discussion and Analysis
15 Our Core Values
87 Report on Corporate
16 Corporate Profile Governance
17 Our Offerings
18 Our Global Presence
19 ED’s Perspective
20 From the COO’s Desk
21 Rewards & Recognition
22 Key Performance Indicators
23 Corporate Information
 Intense Technologies Limited

110-145 146-178
Standalone Financial Statements Consolidated Financial Statements
110 Independent Auditors' Report 146 Independent Auditors' Report
118 Standalone Balance Sheet 151 Consolidated Balance Sheet
119 Standalone Statement of Profit & Loss 152 Consolidated Statement of Profit & Loss
120 Standalone Statement of Cash Flows 153 Consolidated Statement of Cash Flows
122 Notes to Standalone Financial 155 Notes to Consolidated Financial
Statements Statements
Annual Report 2022-23

The worldwide big data

market is projected to grow
from $42 billion in 2018 to
$103 billion in 2027.
**Source: Statista

By 2025, IDC predicts that the total amount of digital

data created worldwide will rise to 163 zettabytes

Investment in enterprise intelligence solutions has

witnessed significant growth from the previous year.

It is expected to stay the same owing to the

incremental demand of organizations to engage in
data-driven decision-making, improve customer
experience, speed up business innovation activities,
and capitalize on cost-saving opportunities.

**Source: IDC

To meet these demands, a deep understanding of

consumer behavior and strategic investment in data
Evolution of the modernization solutions are crucial. By leveraging a
centralized intelligent data platform, organizations can
data-driven enterprise make data-driven decisions that drive growth,
innovation, and transformation.
This year's theme embodies the vital trait that
enterprises need to not just survive but thrive in a The increasing proliferation of data poses a challenge
rapidly evolving and uncertain world. Over the past for businesses, requiring them to navigate through
couple of years, companies have been engaged in a disparate sources, operational silos, and disjointed
fierce competition to embrace the cloud and explore experiences. However, by adopting smart analytics
data management capabilities. tools, Artificial Intelligence (AI), and Machine Learning
(ML), companies can harness the power of data to
In today's data-driven landscape, every enterprise
enhance customer engagement, streamline internal
acknowledges the vital role of data in their business
operations, and foster successful partnerships. Cloud
and operations. However, they still struggle with
technology plays a vital role in enabling this
legacy systems, distributed data sources, and the
transformation, democratizing access to cutting-edge
absence of a cohesive data strategy that is essential
AI and ML capabilities that empower organizations to
for businesses to thrive.
drive actionable insights for purpose-led growth.
 Intense Technologies Limited

• UniServeTM Reach - a powerful Marketing

Automation Platform designed to enable
enterprises to enhance their customer
relationships through highly personalized
engagement at every touchpoint
of the customer journey.
• Bringing in advanced capabilities into our award
As cloud and data technologies winning CCM platform, UniServeTM Reach
integrates a real-time customer data platform
advance, the adoption of AI (CDP), intelligent loyalty management, and
is set to accelerate rther. AI-driven customer analytics, empowering
businesses to make data-driven decisions and
At Intense Technologies, we bring together the deliver tailored experiences to their customers.
synergies of data, AI, and cloud to help companies
• Under the umbrella of the Services Line of
build resilience, elevate customer experiences, and
Business (LOB), Intense now offers on-demand
embrace the flexibility of an open and scalable
and scalable services in Cloud, Data, Talent-as-a-
ecosystem.
Service, and Enterprise Application Development.
With a focus on data management, cloud
• This comprehensive suite of services plays a
computing, low code development, and automation,
pivotal role in the strategic growth and success
Intense is revolutionizing the way organizations
of businesses by leveraging the power of
operate and thrive in today's digital landscape with
cutting-edge technology.

Intense Technologies o ers a full low-code application lifecycle, from advisory and
implementation to managed services and operations. Pre-con gured Industry centric IP
solutions further simplify the adoption of low code platforms.

Our commitment to developing and scaling these solutions is

driven by our dedication to innovation, industry expertise, advanced
technology capabilities, and strong ecosystem partnerships. By leveraging
these technologies, companies can drive seamless operations,
reduce costs, and avoid resource-intensive IT upgrades.
Annual Report 2022-23

Our Products

UniServeTM NXT AI enabled

Marketing & Low-code platform
Data Management
Communication Hub

Low code custom

360-
app development
Communications
Hub

IDM - Data 1Vu - Identity

Reach – Marketing Management Management Forms
Automation Hub Hub Automation

Connect- Process
Transmission Automation
Services

Tech-enabled Services

Data Services Cloud Services Talent as a Managed Services

• Data Management • Cloud Consulting Service (TaaS) • Testing Services
• Data Analytics Services • Workforce • Product Engineering
• Cloud Engineering Optimization
• Process Automation • Infra Services
• Cloud Security and
compliance
 Intense Technologies Limited

Our Core Values

MAKE THE
IMPOSSIBLE POSSIBLE
Great work starts with great people.
YOU can do it.

CUSTOMER FIRST
The customer isn’t king here.
He’s God, our sacred reason for being.
ALWAYS SIMPLIFY
The best ideas are the simplest.

OWN IT WE ARE ONE

A sense of ownership is the most Teamwork makes the dream work.
powerful weapon we have.
FIND IT. DO IT.

LEARNING
NEVER STOPS!
CONSTANTLY Brilliance Awaits.
All that's needed is an unfettered curiosity to seek it!

INNOVATE
We dream Big. We do Big.
Annual Report 2022-23

Corporate Pro le

Transforming businesses through technology

Data | Cloud | AI

4 ISO 27001 50%

Present across Highest security standards More than 50% market
4 continents share in Insurance &
Telecom market in India

15+ 500 10+

awards and recognitions Fortune 500 Customers IP assets Copyrighted
From industry, Government, Use our solutions Globally & Patents filed
media and analysts

400 25bn USD 5Mn

More than We process more than 5 million statements
400 million notifications 25bn USD worth of client generated every day
a day revenue data

20+ 500+ NSE & BSE

Years of Enterprise Skilled workforce Publicly listed on
Data Management and spread across the globe NSE & BSE
BPM experience packed in
 Intense Technologies Limited

Our O erings

Helping enterprises in their digital transformation journey

Digital Customer Engagement platform, UniServeTM Reach brings

a well-crafted analytics strategy that can take your customer experiences Watch Video
from good to extraordinary.

UniServe™ NXT helps enterprises engage with customers in real-time, and

hyper-personalize customer journeys for upsell / cross sell, thus improving Watch Video
brand loyalty.

Deliver a superior Customer Experience and empower all your stakeholders

with one portal and equip them with 360-degree view of all customer Watch Video
interactions and communications.
Annual Report 2022-23

Our global presence

With our expanding global footprint and
an efficient workforce, we help customers
across the world navigate their digital
transformation journeys.

Dubai

London

Florida
India

Singapore
 Intense Technologies Limited

Anisha Shastri
Director

ED's perspective
Embracing the New Era of tech enabled Services

The era of tech-enabled services, marked by

Let's look at how Data Analytics is revolutionizing the
differentiating experiences, is already upon us. Take for
banking world! With tons of data to handle, you'd think
instance, AI. AI is everywhere around us. It's at the
banks might drown. But no, Data Analytics are the
heart of our discussions on innovation. Sometime back
lifeguards for their data ocean. They make managing
we were concerned with the fear of robots taking over
all that info a breeze.
the world. Today we talk about generative AI,
driverless cars; machines –– that predict their own Banks are now using Data Analytics to understand how
maintenance needs. With this current wave of change, customers roll – their investing patterns, shopping
the only limit is our own imagination. sprees, and financial histories. With these insights,
banks can whip up tailor-made solutions that keep
Pioneering Innovation Through Arti cial Intelligence
and Technology existing customers happy and get in new ones. It's like
offering a personal shopping assistant for your
The rules of the game are dynamic with economic finances!
value being created through enhanced and
It's no surprise that tech-enabled services, hyper-
unprecedented tech-enabled services based on the
personalization, and the ability to create meaningful
tenets of sharing and subscription, rather than of
connections with customers is an essential part of any
ownership. This shift towards a services economy calls
successful strategy as technology-enabled customer
for a mindset that understands multichannel
data increases. As Data, analytics, and AI are essential
relationships, customer behavior, and the value of
tools in crafting a hyper-personalized strategy to help
scalable technology platforms.
customers solve their toughest business issues, it's all
All things around us — things that we previously about taking things personally!
thought of as products— are becoming services. For
As an experienced global technology products
instance, the autonomous car of the future will serve as
company, we understand these massive changes and
your personal assistant, as well as provide rich data to
make them work for organizations.
your car manufacturer and your auto insurer, who in
turn will provide more personalized and improved Over the years, Intense has evolved from a purely
services. products company to intelligent operations and data-
driven services, adding value to customers. In this
Arti cial Intelligence (AI) and data are de ning our
world of hyper-personalization, we at Intense are
everyday experiences.
seizing every opportunity to empower customers with
It's all about crafting unique experiences that will our IP enabled tech services and a superior product
differentiate services. Today, our customers, primarily portfolio.
millennials, prioritize experience spending over
ownership. These experiences are marked by hyper-
personalization, intuitive interactions, and purpose.
Their satisfaction hinges on a seamless journey for
experiences they crave like placing a dinner order. Anisha Shastri
Every detail matters – from restaurant choices to app Director
speed, content quality, and flawless food delivery. Intense Technologies Limited
Annual Report 2022-23

Anil Kmar
COO

With the changing economic environment, we

positioned our Company to work with clients for their
digital transformation as well as their cost efficiency
and automation programs, enabling us to support
them in two critical areas of interest. As we continue
From the COO’s desk our journey, innovation, and customer-centricity will
remain the pillars to create value for our stakeholders.
This year we took decisive steps to build a stronger
company. We made several investments and added .As I look ahead, given the trust of our clients, the
new capabilities to support future growth. dedication of our employees, the strength of our
capabilities, and the guidance of our Board, I remain
Our recent “Project Butterfly” aims to drive diverse confident of our ability to serve our clients and
revenue streams while investing in the future. We're continue to create impact for them.
dedicated to long-term growth, with focused teams in
Data Services, Cloud Services, SaaS products, and
Government Managed Services. Our complete
communications offering now comes with transmission
services, positioning us as the preferred vendor for
banks and insurance companies. As we continue our journey,
In the past few quarters, we have seen the global
innovation, and customer-
economy dealing with inflation, interest rate increases, centricity will remain the
and changes in demand environment for companies in pillars to create value for
various industries. Our strength in digital, cloud, and in
automation, along with cost efficiency capabilities have
our stakeholders
held us in good stead. We continue to invest in our
cloud and AI capabilities as could-based business With my warmest regards,
models and AI increasingly become the norm. Our
capabilities for the cloud continue to resonate with our
clients.
Anil Kumar Vengayil
We have developed a strong set of capabilities in
Chief Operating Officer
Artificial Intelligence and Marketing Automation to Intense Technologies Limited
enhance how we enable our clients to derive value.
With technology being a key driver, we continue to
invest in talent so we can deliver cutting-edge
solutions that our customers expect from us.
 Intense Technologies Limited

Rewards & Recognition

Rewards & Recognition vindicates our

commitment to innovation and
customer focus, and encourages each
of us to raise the bar!

UniServeTM NXT Digital Suite rated amongst the best globally

by customers in the Gartner Peer Insights 2022

Intense Technologies recognized as a ‘Technology Leader’

in the 2023 SPARK Matrix for Customer Communication Management

Intense Technologies positioned amongst AnyPrem Customer Communications

Management (CCM) Software Leaders for Telecom, Insurance, Public Sector and
Utilities verticals in the 2022 Aspire CCM-CXM Leaderboard™.

Additionally, Intense Technologies has also been recognized as a Leader in two

other segments, Vendor Hosted SAAS CCM and Communications Experience
Platform (CXP) for the Utilities and Telecom verticals in the same report.

Intense Technologies recognized in the 2022 SPARK Matrix for Customer

Communication Management by Quadrant Knowledge Solutions.
 Annual Report 2022-23

Key Performance Indicators

(Consolidated)

Revenues (` Lakhs) EBITDA (` Lakhs)

10000 30
9184 2569
9000 8396 2316
8000 25
7383
7000 1863
20
6000
5000 15
4000
3000 10
2000
5
1000
0 0
FY 21 FY 22 FY 23 FY 21 FY 22 FY 23

PBT (` Lakhs) EPS (`)

2426
2500 10
2196
8.49
8.06
2000 8
1685
5.86
1500 6

1000 4

500 2

0 0
FY 21 FY 22 FY 23 FY 21 FY 22 FY 23

Note: We are continuing to invest in expanding on the revenue streams, which may have reflected in lower PBT.
Annual Report 2022-23

Corporate Information
Board Of Directors Board Committees Registered O ce Listing
Mr. C.K. Shastri Audit Committee A1 Vikrampuri BSE Limited, Mumbai
Chairman & Managing Director Secunderabad - 500 009 National Stock Exchange
Mr K S Shanker Rao, Chairman
Mr Jayant Dwarkanath Telangana, India. of India Limited, Mumbai
Whole-time Director Mrs Sarada Devi, Member Tel: + 91-40-44558585
Fax: + 91-40- 27819040 Stock Code
Ms. C. Anisha Shastri Mr V S Mallick, Member
Whole-time Director CIN: L30007TG1990PLC011510 BSE - (532326)
Nomination & Remuneration NSE - (INTENTECH)
Mr. Tikam Sujan Committee E-mail: [email protected] ISIN Code - INE781A01025
Non-Executive Non-Independent
Director Mr K S Shanker Rao, Chairman Site: www.in10stech.com Registrar and Transfer Agents
Mrs Sarada Devi Mrs Sarada Devi, Member Statutory Auditors KFin Technologies Limited
Non-Executive Woman Independent Mr V S Mallick, Member (Formerly known as KFin
Director MSPR & Co
Chartered Accountants Technologies Private Limited)
Stakeholder's Relationship
Mr P Pavan Pulavarty
Non-Executive Independent Director Committee Sri Sai Nilayam, Selenium Tower B, Plot 31 & 32,
Siddhartha Nagar Financial District,
Mr K S Shanker Rao Mr V S Mallick, Chairman
Hyderabad-500038, Nanakramguda,
Non-Executive Independent Director Mrs Sarada Devi, Member Telangana, India Serilingampally Mandal,
Mr V S Mallick Mr K S Shanker Rao, Member Email: [email protected] Hyderabad-500032
Non-Executive Independent Director Tel. 040-40141012 Email:einward.ris@k ntech.com
CSR Committee Toll free number -
Corporate Management Internal Auditors
Mr K S Shanker Rao, Chairman 1- 800-309-4001
Mr Anil Vengayil M/s RP Rao
Chief Operating O cer Mrs Sarada Devi, Member
Chartered Accountants
Mr Madhukar H Nayak Mr V S Mallick, Member Hyderabad, Telangana.
Chief Financial O cer rd
(up to 30.05.2023) Risk Management Committee Secretarial Auditors 33 Annual
Mr Nitin Sarda Mr V S Mallick, Chairman M/s. Puttaparthi General Meeting
Chief Financial O cer Jagannatham & Co
(w.e.f. 01.06.2023) Mrs Sarada Devi, Member Date : 29th Day of September 2023
Company Secretaries
Ms. Saheli Banerjee Mr K S Shanker Rao, Member 315, Bhanu Enclave, ESI, Time : 12.00 PM (IST)
Company Secretary & Hyderabad – 500038.
Compliance O cer Tel. 040-23701964 Mode of participation :
(up to 22.02.2023)
Fax. 040-23701374 Video Conference
Ms. Pratyusha Podugu
Company Secretary &
Compliance O cer
(w.e.f. 18.04.2023)
NOTICE OF THE

ANNUAL GENERAL MEETING

To the Members of regard, to consider and if thought fit, to pass, with
or without modification(s), the following resolution as
Intense Technologies Limited an Ordinary Resolution:
Notice is hereby given that the Thirty Third (33rd) Annual
“RESOLVED THAT the Audited Consolidated Financial
General Meeting (AGM) of the members of Intense Technologies
Statements of the Company for the financial year
Limited (CIN: L30007TG1990PLC011510) (“the Company”) will
ended March 31, 2023 and the Report of Auditors
be held on Friday, 29th day of September, 2023 at 12.00 P.M IST
thereon, as circulated to the members be and are
through Video Conferencing (“VC”)/ Other Audio Visual Means
hereby considered and adopted.”
(“OAVM”) to transact the following business:
2. Declaration of Dividend
Ordinary Business:
To declare final dividend on equity shares at the
1. To receive, consider and adopt rate of 25% i.e., `0.50/- (Fifty paise only) per equity share
a. the Audited Standalone Financial Statements of the of face value of ` 2/- (Two Rupees) each for the Financial
Company for the Financial Year ended March 31, 2023, Year ended March 31, 2023 and in this regard, to consider
the Reports of the Board of Directors and Auditors and if thought fit, to pass, with or without modification(s),
thereon and in this regard, to consider and if thought the following resolution as an Ordinary Resolution:
fit, to pass, with or without modification(s), the “RESOLVED THAT a dividend at the rate of (25 %) i.e.
following resolution as an Ordinary Resolution: `0.50 ( Fifty paise only) per equity share of face value of
“RESOLVED THAT the Audited Standalone Financial `2/- (Two Rupees) each fully paid- up Equity Shares of the
Statements of the Company for the financial year Company, as recommended by the Board of Directors be
ended March 31, 2023 and the reports of the Board and is hereby approved for the financial year ended March
of Directors and Auditors thereon, as circulated to the 31, 2023.”
members be and are hereby considered and adopted.” 3. Re-appointment of Director
and To appoint a Director in place of Mr. Tikam Sujan (DIN:
b. the Audited Consolidated Financial Statements of 02137651), who retires by rotation and being eligible,
the Company for the Financial Year ended March 31, offers himself for re-appointment, and in this regard, to
2023, the Report of the Auditors thereon and in this consider and if thought fit, to pass, with or without

Intense Technologies Limited

24
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

modification(s), the following resolution as an Ordinary India (Listing Obligations and Disclosure Requirements)
Resolution: Regulations, 2015 and the Articles of Association of
the Company and the Companies (Appointment and
“RESOLVED THAT in accordance with the provisions of
Remuneration of Managerial Personnel) Rules, 2014, as
Section 152 read with the Companies (Appointment and
amended from time to time, consent of the Members,
Qualification of Directors) Rules, 2014 and other applicable
be and is hereby accorded for the re-appointment of
provisions of the Companies Act, 2013, Mr. Tikam Sujan
Mr. Jayant Dwarkanath (DIN:00329597) as Whole Time
(DIN: 02137651), who retires by rotation at this meeting
Director of the Company for a further period of 3 years
and being eligible, offers himself for re-appointment, be
commencing from October 1, 2023, at a remuneration and
and is hereby appointed as a Director of the Company.”
upon such terms and conditions as set out in explanatory
statement annexed hereto.
Special Business:
“RESOLVED FURTHER THAT the Board of Directors
4. Re-appointment of Mr. C.K. Shastri (DIN:
(hereinafter referred to as the Board which term shall
00329398) as Managing Director
be deemed to include any committee including the
To consider and if thought fit, to pass with or without Nomination & Remuneration Committee which may
modification(s), the following resolutions as a Special exercise its powers including the powers conferred by
resolution: this resolution) be and is hereby authorized to vary, alter,
widen the scope of the remuneration as they deem fit in
“RESOLVED THAT pursuant to the provisions of Sections
the interest of the Company and to issue the contract of
196, 197, 198, 203 and other applicable provisions, if any, of
employment as per section 190 of the Companies Act,2013
the Companies Act, 2013 (the Act) (including any statutory
& the rules made thereof and the applicable provisions
modification or re-enactment thereof for the time being in
of the Securities and Exchange Board of India (Listing
force) read with Schedule V to the Act and the applicable
Obligations and Disclosure Requirements) Regulations,
provisions of the Securities and Exchange Board of
2015 as amended from time to time.”
India (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and the Articles of Association of 6. Re-appointment of Ms. C. Anisha Shastri (DIN:
the Company and the Companies (Appointment and 08154544) as Whole time Director
Remuneration of Managerial Personnel) Rules, 2014, as
To consider and if thought fit, to pass with or without
amended from time to time, consent of the Members, be
modification(s), the following resolutions as a Special
and is hereby accorded for the re-appointment of Mr. C.
resolution:
K. Shastri (DIN: 00329398) as Managing Director of the
Company for a further period of 3 years commencing “RESOLVED THAT pursuant to the provisions of Sections
from October 1, 2023, at a remuneration and upon such 196, 197, 198, 203 and other applicable provisions, if any, of
terms and conditions as set out in explanatory statement the Companies Act, 2013 (the Act) (including any statutory
annexed hereto. modification or re-enactment thereof for the time being in
force) read with Schedule V to the Act and the applicable
“RESOLVED FURTHER THAT the Board of Directors
provisions of the Securities and Exchange Board of
(hereinafter referred to as the Board which term shall
India (Listing Obligations and Disclosure Requirements)
be deemed to include any committee including the
Regulations, 2015 and the Articles of Association of
Nomination & Remuneration Committee which may
the Company and the Companies (Appointment and
exercise its powers including the powers conferred by
Remuneration of Managerial Personnel) Rules, 2014, as
this resolution) be and is hereby authorized to vary, alter,
amended from time to time, consent of the Members, be
widen the scope of the remuneration as they deem fit in
and is hereby accorded for the re-appointment of Ms. C.
the interest of the Company and to issue the contract of
Anisha Shastri (DIN: 08154544) as Whole Time Director of
employment as per section 190 of the Companies Act,2013
the Company for a further period of 3 years commencing
& the rules made thereof and the applicable provisions
from October 1, 2023, at a remuneration and upon such
of the Securities and Exchange Board of India (Listing
terms and conditions as set out in explanatory statement
Obligations and Disclosure Requirements) Regulations,
annexed hereto.”
2015 as amended from time to time.”
“RESOLVED FURTHER THAT the Board of Directors
5. Re-appointment of Mr. Jayant Dwarkanath (DIN:
(hereinafter referred to as the Board which term shall
00329597) as Whole time Director
be deemed to include any committee including the
To consider and if thought fit, to pass with or without Nomination & Remuneration Committee which may
modification(s), the following resolutions as a Special exercise its powers including the powers conferred by
resolution: this resolution) be and is hereby authorized to vary, alter,
widen the scope of the remuneration as they deem fit in
“RESOLVED THAT pursuant to the provisions of Sections
the interest of the Company and to issue the contract of
196, 197, 198, 203 and other applicable provisions, if any, of
employment as per section 190 of the Companies Act,2013
the Companies Act, 2013 (the Act) (including any statutory
& the rules made thereof and the applicable provisions
modification or re-enactment thereof for the time being in
of the Securities and Exchange Board of India (Listing
force) read with Schedule V to the Act and the applicable
provisions of the Securities and Exchange Board of

Intense Technologies Limited

25
Annual Report 2022-23
 Obligations and Disclosure Requirements) Regulations, circulars and notifications issued thereunder, the Securities
2015 as amended from time to time.” and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“SEBI Listing
7. To appoint Mr. Gopala Krishna Dhanyamraju
Regulations”), Memorandum and Articles of Association
(DIN: 08217921) as a Non-Executive Independent
of the Company and subject to such other approvals,
Director of the Company
permissions and sanctions as may be necessary and
To consider and if thought fit, to pass with or without subject to such conditions and modifications as may be
modification(s), the following resolutions as a Special prescribed or imposed while granting such approvals,
resolution: permissions and sanctions, the consent of the Members
of the Company be and is hereby accorded to the
“RESOLVED THAT pursuant to the provisions of Sections
introduction and implementation of Intense Technologies
149, 150 and 152 read with Schedule IV and other
Limited - Restricted Stock Unit Plan 2023 (“RSU Plan
applicable provisions, if any, of the Companies Act,
2023”/“Plan”) and authorizing the Board of Directors of
2013 (“Act”) and the Companies (Appointment and
the Company (hereinafter referred to as the “Board” which
Qualification of Directors) Rules, 2014(“Rules”) including
term shall be deemed to include any Committee, including
any statutory modification(s) or re-enactment thereof
the Nomination and Remuneration Committee which the
for the time being in force and the applicable provisions
Board has constituted to exercise its powers including the
of the Securities and Exchange Board of India (Listing
powers conferred by this resolution and under Regulation
Obligations and Disclosure Requirements) Regulations,
5 of the SEBI SBEB & SE Regulations to create and grant
2015 (“SEBI Listing Regulations”), as amended, Mr.
from time to time, in one or more tranches, not exceeding
Gopala Krishna Dhanyamraju (DIN: 08217921), who was
5,00,000 (Five lakhs) Restricted Stock Units (“RSUs”)
appointed as an Additional Director in the category of
to or for the benefit of such person(s) as designated by
Non-Executive Independent Director of the company w.e.f.
the Company, within the meaning of the Plan (other than
July 25, 2023, by the Board of Directors of the Company
promoter or person belonging to the promoter group
on the recommendation of Nomination and Remuneration
of the Company, independent directors and director(s)
Committee, pursuant to Section 161(1) of the Companies
holding directly or indirectly more than 10% of the
Act, 2013 and the Articles of Association of the Company
outstanding equity shares of the Company), as may be
and being eligible for appointment has submitted a
decided under the Plan, exercisable into not more than
declaration that he meets the criteria for independence as
5,00,000 (Five lakhs) equity shares of face value of Rs
provided in Section 149(6) of the Act read with the rules
2 (Rupees two) each fully paid-up, (as adjusted for any
framed thereunder and Regulation 16(1)(b) of SEBI Listing
changes in the capital structure of the Company), where
Regulations and in respect of whom the Company has
one restricted stock unit would convert into one equity
received notice in writing under Section 160(1) of the Act,
share upon exercise, on such terms and in such manner as
from a member proposing his candidature for the office of
the Board may decide in accordance with the provisions of
an Independent Director, be and is hereby appointed as a
the applicable laws and the provisions of the Plan.”
Non- Executive Independent Director of the Company, to
hold office for a term of 5 (Five) consecutive years with “RESOLVED FURTHER THAT the equity shares so issued
effect from July 25, 2023 to July 24, 2028 and not liable to and allotted as mentioned hereinbefore shall rank pari
retire by rotation.” passu with the then existing equity shares of the Company.”
“RESOLVED FURTHER THAT the Board of Directors of the “RESOLVED FURTHER THAT in case of any corporate
Company be and are hereby authorised to do all acts, deeds action such as rights issue, bonus issue, merger, sale of
and things and to take all such steps as may be necessary, division and others, if any additional equity shares are
proper or expedient to give effect to this resolution and issued by the Company to the grantees for the purpose of
matters incidental consequential and connected therewith making a fair and reasonable adjustment to the restricted
and to delegate all or any of its powers herein conferred to stock units granted earlier, the ceiling as specified above
any Committee of Directors or Director(s) to give effect to shall be deemed to be increased to the extent of such
the aforesaid resolution.” additional equity shares issued.”
8. Approval for introduction and implementation of “RESOLVED FURTHER THAT in case the equity shares
Intense Technologies Limited - Restricted Stock of the Company are either sub-divided or consolidated,
Unit Plan 2023 (“RSU Plan 2023”/“Plan”) if the revised face value of the equity share is more than
the current face value as prevailing on the date of coming
To consider and, if thought fit, to pass the following
into force of this Plan, the maximum number of equity
Resolution as a Special Resolution:
shares available for being granted under the Plan as
“RESOLVED THAT pursuant to the provisions of Section specified above, shall stand modified accordingly and the
62(1)(b) and other applicable provisions, if any, of the price of acquisition for each restricted stock unit payable
Companies Act, 2013 read with Rules made thereunder, by the grantees under the Plan shall automatically stand
the provisions of the Securities and Exchange Board of augmented or reduced, in the same proportion as the face
India (Share Based Employee Benefits and Sweat Equity) value per equity share shall bear to the revised face value of
Regulations, 2021 (“SEBI SBEB & SE Regulations”), as the equity share of the Company after such consolidation,
amended and enacted from time to time, read with all

Intense Technologies Limited

26
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

without affecting any other rights or obligations of the conferred herein, to any committee of directors or to
said grantees.” Chairman & Managing Director of the Company with a
power to further delegate to any executives or officer of
“RESOLVED FURTHER THAT the Board be and is hereby
the Company to do all such acts, deeds, matters, things
authorised to devise, formulate, evolve, decide upon
including to file such forms and also to execute such
and bring into effect RSU Plan 2023 on such terms and
documents, writings etc. as may be necessary in this
conditions as contained in the explanatory statement to
regard.”
this item in the notice and to modify, alter, vary, revise
or amend the said terms or suspend, withdraw, revise or By Order of the Board of
terminate RSU Plan 2023, subject to compliance with the Directors
SBEB Regulations, the Act and other applicable laws, rules Sd/-
and regulations, as may be prevailing at that time.” Registered Office: Pratyusha Podugu
A1, Vikrampuri, Company Secretary &
“RESOLVED FURTHER THAT the equity shares may be Secunderabad - 500 009 Compliance Officer
allotted in accordance with RSU Plan 2023 directly to the Telangana, India M. No: ACS-71069
employees.” CIN: L30007TG1990PLC011510
Ph: 040 Date: July 25, 2023
“RESOLVED FURTHER THAT the Board be and is hereby 44558585/27849019/27844551 Place: Secunderabad
authorized to take requisite steps for listing of the equity E-mail: [email protected]
shares allotted under the Plan on the stock exchanges
where the equity shares of the Company are listed as per
provisions of SEBI Listing Regulations, SEBI SBEB & SE
Regulations and other applicable laws.”
“RESOLVED FURTHER THAT the Company shall conform
to the accounting policies prescribed from time to time
under the SEBI SBEB & SE Regulations and any other
applicable laws and regulations to the extent relevant and
applicable to the Plan.”
“RESOLVED FURTHER THAT the Board be and is hereby
authorized to do all such acts, deeds and things, as
may, at its absolute discretion deem necessary including
authorizing or directing to appoint merchant bankers,
brokers, solicitors and other advisors, consultants
or representatives, being incidental to the effective
implementation and administration of the Plan and to
make applications to the appropriate authorities for
requisite approvals, file documents as required in the above
connection and to settle all such questions, difficulties or
doubts whatsoever which may arise and take all such steps
and decisions in this regard.”
“RESOLVED FURTHER THAT the Board be and is hereby
authorised to do all such acts, deeds, matters and things
as it may, in its absolute discretion deem fit, for the
aforesaid purpose and also to settle any issues, questions,
difficulties or doubts that may arise in this regard at any
stage, without being required to seek any further consent
or approval of the members of the Company to the end
and intent that the members shall be deemed to have
given their approval thereto expressly by the authority
of this resolution, and further to execute all such deeds,
documents, writings and to give such directions and / or
instructions as may be necessary, proper or expedient to
give effect to any modification, alteration, amendment,
suspension, withdrawal or termination of RSU Plan 2023
and to take all such steps and do all acts as may be
incidental or ancillary thereto.”
“RESOLVED FURTHER THAT subject to applicable
provisions of the Act and other applicable laws, the Board
be and is hereby authorised to delegate all or any powers

Intense Technologies Limited

27
Annual Report 2022-23
Notes for Members: on their behalf and to vote through remote e-Voting. The
said Resolution/Authorisation shall be sent by e-mail on
1. The Ministry of Corporate Affairs (“MCA”) has vide its
Scrutinizer’s e-mail address at [email protected]
General Circular Nos. 14/ 2020 dated April 8, 2020 and
with a copy marked to [email protected].
17/2020 dated April 13, 2020, 20/2020 dated May 5,
2020, 02/2021 dated January 13, 2021, 21/2021 dated 6. The Members attending the 33rd AGM through VC/OAVM
December 14, 2021, 02/2022 dated May 5, 2022 and shall be counted for the purpose of reckoning the quorum
10/2022 dated December 28, 2022 (Collectively referred under Section 103 of the Act.
to as “MCA Circulars”) and SEBI Circular Nos. SEBI/HO/
7. In accordance with the provisions of Section 152 of the Act
CFD/CMD1/CIR/P/2020/79 dated May 12, 2020, SEBI/HO/
and the Articles of Association of the Company, Mr. Tikam
CFD/CMD2/CIR/P/2022/62 dated May 13, 2022 and SEBI
Sujan (DIN: 02137651) Director of the Company, retires by
Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2023/4 dated
rotation at the 33rd Annual General Meeting and being
January 5, 2023, permitted to convene the Annual General
eligible, offers himself for re-appointment. The Board of
Meeting (“AGM” / “Meeting”) through Video Conferencing
Directors of the Company recommend his re-appointment.
(“VC”) / Other Audio Visual Means (“OAVM”), without the
physical presence of the members at a common venue. 8. An Explanatory Statement pursuant to Section 102 of the
In accordance with the MCA Circulars read with SEBI Companies Act, 2013 (‘the Act’) relating to the Special
Circulars, provisions of the Companies Act, 2013 (‘the Act’) Resolution i.e., Item Nos. 4 to 8, to be transacted at the
and the Securities and Exchange Board of India (Listing Annual General Meeting (‘AGM’) is annexed hereto.
Obligations and Disclosure Requirements) Regulations,
9. Pursuant to Regulations 36(3) of SEBI Listing Obligation
2015 (“SEBI Listing Regulations”), the AGM of the
and Disclosure Requirements) Regulations, 2015, Section
Company is being held through VC / OAVM. The deemed
152 of the Companies Act, 2013 and Secretarial Standards
venue for the 33rd AGM shall be the Registered Office of
on General Meetings (SS- 2), details in respect of Director
the Company at A1, Vikrampuri, Secunderabad - 500 009,
seeking appointment/ reappointment of Directorship
Telagnaga, India.
at 33rd AGM of the Company to be held on Friday, 29th
2. In compliance with the above MCA Circulars and SEBI September, 2023 is provided in Annexure-1 of this Notice.
Circular, Notice of the 33rd AGM along with the 33rd
10. Pursuant to the provisions of Section 108 of the Companies
Annual Report 2022-23 is being sent only through
Act, 2013 read with Rule 20 of the Companies (Management
electronic mode to those Members whose email addresses
and Administration) Rules, 2014 (as amended), Secretarial
are registered with the Company/ Depositories. Members
Standard on General Meetings (SS-2) issued by the
may note that the Notice and 33rd Annual Report 2022-23
Institute of Company Secretaries of India (“ICSI”) and
will also be available on website of the Company (www.
Regulation 44 of SEBI (Listing Obligations & Disclosure
in10stech.com), websites of the stock exchanges, BSE
Requirements) Regulations 2015 (as amended), and the
Limited (www.bseindia.com), National Stock Exchange of
Circulars issued by the Ministry of Corporate Affairs the
India Limited (www.nseindia.com) and on the website of
Company is providing facility of remote e-Voting to its
NSDL at www.evoting.nsdl.com.
Members in respect of the business to be transacted at the
3. Generally, a member entitled to attend and vote at the 33rd AGM. For this purpose, the Company has entered into
meeting is entitled to appoint a proxy to attend and vote an agreement with National Securities Depository Limited
on a poll instead of himself / herself and the proxy need (NSDL) for facilitating voting through electronic means, as
not be a member of the company. Since, this AGM is being the authorized agency. The facility of casting votes by a
held through VC / OAVM in pursuant to the MCA circulars, member using remote e-Voting system as well as venue
physical attendance of members has been dispensed with. voting on the date of the 33rd AGM will be provided by
Accordingly the facility for appointment of proxies by the NSDL.
members shall not be available for the AGM and hence, the
11. In accordance with the MCA Circulars and SEBI Circular the
proxy form and attendance slip are not annexed hereto.
notice of the AGM along with the 33rd Annual Report for
4. The Members can join the 33rd AGM in the VC/OAVM the FY 2022-23 is being sent only through electronic mode
mode 30 minutes before the scheduled time of the to those Members whose email addresses are registered
commencement of the Meeting by following the procedure with the Company/Depositories. Members may note that
mentioned in the Notice. The Members will be able to view the Notice and 33rd Annual Report for the FY 2022-23
the proceedings on the National Securities Depository will also be available on the Company’s website i.e. www.
Limited’s (‘NSDL’) e-Voting website at www.evoting.nsdl. in10stech.com, websites of the Stock Exchanges, i.e., BSE
com. The facility of participation at the 33rd AGM through Limited and National Stock Exchange of India Limited at
VC/OAVM will be made available to at least one thousand www.bseindia.com and www.nseindia.com respectively
Members on a first come first served basis as per the MCA and on the website of NSDL at www.evoting.nsdl.com.
Circulars.
12. For receiving all communication (including 33rd Annual
5. Institutional/corporate shareholders (i.e. other than Report for FY 2022-23) from the Company electronically:
individuals, HUF, NRI, etc.), are required to send a scanned
a. Members holding shares in physical mode and who
copy (PDF/JPG Format) of their respective Board or
have not registered/ updated their email address
governing body Resolution/Authorisation etc., authorising
with the Company are requested to register / update
their representative to attend the AGM through VC/OAVM

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28
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

the same by writing to the Company with details of using remote e-Voting system as well as e-Voting
folio number(s) and attaching a self-attested copy during the AGM will be provided by NSDL.
of PAN card at [email protected] or to M/s KFin
ii. Members of the Company holding shares either in
Technologies Limited (KfinTech) at einward.ris@
physical form or in electronic form as on the cut-
kfintech.com.
off date of Friday, 22nd September 2023 may cast
b. Members holding shares in dematerialised mode are their vote by remote e-Voting. A person who is not a
requested to register / update their email addresses Member as on the cut-off date should treat this Notice
with the relevant Depository Participant (DP). for information purpose only. A person whose name is
recorded in the Register of Members or in the Register
13. Book Closure and Dividend
of Beneficial Owners maintained by the depositories
(a) The Register of Members and Share Transfer Books as on the cut-off date only shall be entitled to avail
of the Company will be closed from Saturday, the facility of remote e-Voting before the AGM as well
September 23, 2023 to Friday, September 29, 2023 as e-Voting during the AGM.
(both days inclusive) for the purpose of payment of
Any member(s) holding shares in physical form or
dividend and AGM for the FY 2022‑23.
non-individual member who acquires shares of the
(b) The dividend on equity shares, if approved at the Company and becomes a member of the Company
Meeting, shall be paid/credited in the respective after dispatch of the Notice and holding shares as on
bank account of the members of the company on the cut-off date i.e. Friday, 22nd September 2023,
or before 30 days of conclusion of the AGM, subject may obtain the User ID and Password by sending a
to deduction of income-tax at source (‘TDS’). The request at [email protected] However, if a person
dispatch of dividend warrants/demand drafts will be is already registered with NSDL for remote e-Voting
completed on same day. then the Members can use their existing User ID and
password for casting the vote.
Pursuant to Finance Act, 2020, dividend income is
taxable in the hands of shareholders effective April In case of Individual Shareholder holding securities in
1, 2020 and the Company is required to deduct tax dematerialized mode and who acquires shares of the
at source from dividend paid to the Members at the Company and becomes a Member of the Company
prescribed rates. For the prescribed rates for various after dispatch of the Notice and holds shares in demat
categories, the shareholders are requested to refer to mode as on the cut-off date may follow the steps
the Finance Act, 2020 and the amendments thereof. In mentioned under ‘Login method for e-Voting and
general, to enable compliance with TDS requirements, joining virtual meeting for individual shareholders
Members are requested to complete and/or update holding securities in demat mode.’
their Residential status, PAN, Category with their
iii. The remote e-Voting period commences on Tuesday,
depository participants (‘DPs’) or in case shares are
26th September 2023 at 9.00 a.m. (IST) and ends on
held in physical form, with the Company/Registrars
Thursday, 28th September 2023 at 5.00 p.m. (IST). The
and Transfer Agents by sending documents through
remote e-Voting module shall be disabled by NSDL
e-mail on or before 10th September, 2023.
for voting thereafter. Once the vote on a resolution is
14. Members may avail facility of nomination in terms of cast by the Member, the Member shall not be allowed
Section 72 of the Companies Act, 2013, by nominating any to change it subsequently. The voting rights of the
person to whom their shares in the Company shall vest in Members shall be in proportion to their share of the
the event of their death. paid-up equity Share Capital of the Company as on
the cut-off date i.e. Friday, 22nd September 2023.
INSTRUCTIONS FOR E-VOTING AND JOINING
iv. Members will be provided with the facility for voting
THE AGM ARE AS FOLLOWS:
through electronic voting system during the VC/OAVM
15. PROCEDURE FOR JOINING THE AGM THROUGH VC / proceedings at the AGM and Members participating
OAVM: at the AGM, who have not cast their vote on the
resolution(s) by remote e-Voting, will be eligible
i. Pursuant to the provisions of Section 108 of the Act to exercise their right to vote on such resolution(s)
read with Rule 20 of the Companies (Management upon announcement by the Chairperson. Members
and Administration) Rules, 2014 (as amended), who have cast their vote on resolution(s) by remote
Regulation 44 of the SEBI Listing Regulations and e-Voting prior to the AGM will also be eligible to
in terms of SEBI circular no. SEBI/HO/CFD/ CMD/ participate at the AGM through VC/OAVM but shall
CIR/P/2020/242 dated December 9, 2020 in relation not be entitled to cast their vote on such resolution(s)
to e-Voting facility provided by listed entities, the again. Members who have voted on some of the
Company is providing facility of remote e-Voting to its resolutions during the said voting period are also
Members in respect of the business to be transacted eligible to vote on the remaining resolutions during
at the AGM. For this purpose, the Company has the AGM. The e-Voting module on the day of the AGM
entered into an agreement with NSDL for facilitating shall be disabled by NSDL for voting 15 minutes after
voting through electronic means, as the authorised the conclusion of the Meeting.
agency. The facility of casting votes by a Member

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29
Annual Report 2022-23
16. INSTRUCTIONS FOR MEMBERS FOR ATTENDING THE may send their questions in advance at least 2 days
AGM THROUGH VC/OAVM AND REMOTE E-VOTING prior to meeting mentioning their name, demat
(BEFORE AND DURING THE AGM) ARE AS UNDER: account number/folio number, email id, mobile
number at [email protected]. These queries will be
i) Members will be able to attend the AGM through VC/
replied to by the company suitably by email.
OAVM or view the live webcast of AGM provided by
NSDL at https://www.evoting.nsdl.com by following iii) Members who need assistance before or during the
the steps mentioned under ‘Access NSDL e-Voting AGM, can contact NSDL on [email protected]/ 022
system’. After successful login, Member(s) can click on - 4886 7000.
link of ‘VC/OAVM’ placed under ’Join General Meeting‘
17. THE INSTRUCTIONS FOR REMOTE E-VOTING BEFORE/
menu against Company name. The link for VC/OAVM
DURING THE AGM
will be available in Shareholder/Member login where
the EVEN of the Company will be displayed. Members The details of the process and manner for remote e-Voting
who do not have the User ID and Password for e-Voting are explained herein below:
or have forgotten the User ID/Password may retrieve
Step 1: Access NSDL e-Voting system
the same by following the process as mentioned in
paragraph titled “The instructions for remote e-Voting Step 2: Cast your vote electronically and join General
before/during the AGM” in the Notice to avoid last Meeting on NSDL e-Voting system.
minute rush.
Details on Step 1 are mentioned below:
ii) Members who would like to express their views or
ask questions during the 33rd AGM may register A. Login method for e-Voting and joining virtual
themselves as a speaker by sending their request meeting for individual shareholders holding
from their registered email address mentioning their securities in demat mode
name, DP ID and Client ID/Folio number, PAN, mobile In pursuance of SEBI circular no.SEBI/HO/CFD/CMD/
number at [email protected] between Monday, CIR/P/2020/242 dated December 9, 2020, e-Voting
September 25, 2023 at 9.00 a.m. (IST) and ends facility is being provided to all the demat account
on Wednesday, September 27, 2023 at 5.00 p.m. holders, by way of single login credential, through
(IST). The Company reserves the right to restrict the their demat accounts/websites of Depositories/
number of questions and speakers depending on the Depository Participants.
availability of time for the AGM. Further, the sequence
in which the shareholders will be called upon to speak Shareholders are advised to update their mobile
will be solely determined by the Company. number and e-mail-id in their demat accounts in
order to access e-Voting facility.
Members who do not wish to speak during the AGM
but would like to express their views/have questions

Type of
Login Method
shareholders
Individual A. NSDL IDeAS facility If you are already registered, follow the below steps:
Shareholders 1. Visit the e-Services website of NSDL. Open web browser by typing the following URL:
holding securities
https://eservices.nsdl.com/ either on a personal computer or on a mobile.
in demat mode
with NSDL. 2. Once the home page of e-Services is launched, click on the ‘Beneficial Owner’ icon under ‘Login’
which is available under ‘IDeAS’ section.
3. A new screen will open. You will need to enter your User ID and Password. After successful
authentication, you will be able to see e-voting services under Value Added Services section.
4. Click on ‘Access to e-voting’ appearing on the left-hand side under e-voting services and you will
be able to see e-voting page.
5. Click on options available against Company name or e-voting service provider – NSDL and you will
be re-directed to NSDL e-voting website for casting your vote during the remote e-voting period
or joining virtual meeting & e-voting during the meeting.
If you are not registered, follow the below steps:
a. Option to register is available at https://eservices.nsdl.com
b. Select ‘Register Online for IDeAS’ Portal or click at https://eservices.nsdl.com/SecureWeb/
IdeasDirectReg.jsp
c. Please follow steps given in points 1-5

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Type of
Login Method
shareholders
B. e-voting website of NSDL
1. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a
personal computer or on a mobile phone.
2. Once the home page of e-voting system is launched, click on the icon ‘Login’ which is available
under ‘Shareholder/ Member’ section.
3. A new screen will open. You will need to enter your User ID (i.e. your sixteen digit demat account
number held with NSDL), Password/OTP and a Verification Code as shown on the screen.
4. After successful authentication, you will be redirected to NSDL website wherein you can see
e-voting page. Click on options available against Company name or e-voting service provider
- NSDL and you will be redirected to e-voting website of NSDL for casting your vote during the
remote e-voting period or joining virtual meeting & e-voting during the meeting.
C. Shareholders/Members can also download NSDL Mobile App ‘NSDL Speede’ facility by scanning the
QR code mentioned below for seamless voting experience.

Individual 1. Existing users who have opted for Easi/Easiest, they can login through their user id and password.
Shareholders Option will be made available to reach e-Voting page without any further authentication. The URL for
holding securities users to login to Easi/Easiest are https://web.cdslindia.com/myeasi/home/login or www.cdslindia.com
in demat mode and click on New System Myeasi.
with CDSL 2. After successful login of Easi/Easiest the user will be also able to see the E Voting Menu. The Menu will
have links of e-Voting service provider i.e. NSDL. Click on NSDL to cast your vote.
3. If the user is not registered for Easi/Easiest, option to register is available at https://web.cdslindia.com/
myeasi/Registration/EasiRegistration
4. Alternatively, the user can directly access e-Voting page by providing demat Account Number and PAN
No. from a link in www.cdslindia.com home page. The system will authenticate the user by sending OTP
on registered Mobile & e-mail as recorded in the demat Account. After successful authentication, user
will be provided links for the respective ESP i.e. NSDL where the e-Voting is in progress.
Individual 1. You can also login using the login credentials of your demat account through your Depository
Shareholders Participant registered with NSDL/CDSL for e-Voting facility.
(holding 2. upon logging in, you will be able to see e-Voting option. Click on e-Voting option, you will be redirected
securities in to NSDL/ CDSL Depository site after successful authentication, wherein you can see e-Voting feature.
demat mode) 3. Click on company name or e-Voting service provider i.e. NSDL and you will be redirected to e-Voting
login through website of NSDL for casting your vote during the remote e-Voting period or joining virtual meeting and
their depository e-voting during the meeting.
participants
Important note: Members who are unable to retrieve User ID/Password are advised to use Forget User ID and Forget Password
option available at respective website.
Helpdesk for individual shareholders holding securities in demat mode for any technical issues related to login through Depositories
i.e. NSDL and CDSL.

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Annual Report 2022-23
 Login type Helpdesk details b) If you are using NSDL e-Voting system for the
first time, you will need to retrieve the ‘initial
Individual Shareholders Members facing any technical issue in
password’ which was communicated to you.
holding securities in login can contact NSDL helpdesk by
demat mode with NSDL sending a request at [email protected] Once you retrieve your ‘initial password’, you
or call at 022 - 4886 7000 need to enter the ‘initial password’ and the
system will force you to change your password.
Individual Shareholders Members facing any technical issue in
holding securities in login can contact CDSL helpdesk by c) How to retrieve your ‘initial password’?
demat mode with CDSL sending a request at helpdesk.evoting@
cdslindia.com or contact at i) If your email ID is registered in your demat
022- 23058738 or 022-23058542-43 account or with the company, your ‘initial
password’ is communicated to you on your
B. Login Method for e-Voting and joining virtual meeting for email ID. Trace the email sent to you from
shareholders other than individual shareholders holding NSDL from your mailbox. Open the email
securities in demat mode and shareholders holding and open the attachment i.e. a .pdf file.
securities in physical mode Open the .pdf file. The password to open
How to Log-in to NSDL e-Voting website? the .pdf file is your 8 digit client ID for NSDL
account, last 8 digits of client ID for CDSL
1. Visit the e-Voting website of NSDL. Open web account or folio number for shares held in
browser by typing the following URL: https://www. physical form. The .pdf file contains your
evoting.nsdl.com/ either on a Personal Computer or ‘User ID’ and your ‘initial password’.
on a mobile.
ii) If your email ID is not registered, please
2. Once the home page of e-Voting system is launched, follow steps mentioned below in process for
click on the icon “Login” which is available under those shareholders whose email ids are not
‘Shareholder/Member’ section. registered.
3. A new screen will open. You will have to enter your 6. If you are unable to retrieve or have not received the
User ID, your Password/OTP and a Verification Code “Initial password” or have forgotten your password:
as shown on the screen. Alternatively, if you are
registered for NSDL eservices i.e. IDEAS, you can log- a) Click on “Forgot User Details/Password?” (If
in at https://eservices.nsdl.com/ with your existing you are holding shares in your demat account
IDEAS login. Once you log-in to NSDL eservices with NSDL or CDSL) option available on www.
after using your log-in credentials, click on e-Voting evoting.nsdl.com.
and you can proceed to Step 2 i.e. Cast your vote b) “Physical User Reset Password?” (If you are
electronically. holding shares in physical mode) option available
4. Your User ID details are given below: on www.evoting.nsdl.com.
c) If you are still unable to get the password by
Manner of holding
shares i.e. Demat aforesaid two options, you can send a request
Your User ID is: at [email protected] mentioning your demat
(NSDL or CDSL) or
Physical account number/folio number, your PAN, your
name and your registered address etc.
a. For Members 8 Character DP ID followed by
who hold shares 8 Digit Client ID For example if d) Members can also use the OTP (One Time
in demat account your DP ID is IN300*** and Client Password) based login for casting the votes on
with NSDL. ID is 12****** then your user ID is
the e-Voting system of NSDL.
IN300***12******.
b. For Members 16 Digit Beneficiary ID For 7. After entering your password, tick on Agree to “Terms
who hold shares example if your Beneficiary ID is and Conditions” by selecting on the check box.
in demat account 12************** then your user ID is
8. Now, you will have to click on “Login” button.
with CDSL. 12**************
c. For Members EVEN Number followed by Folio 9. After you click on the “Login” button, Home page of
holding shares in Number registered with the e-Voting will open.
Physical Form. company For example if folio
number is 001*** and EVEN is
Details on Step 2 are mentioned below:
101456 then user ID is 101456001*** A. How to cast your vote electronically on NSDL e-Voting
5. Password details for shareholders other than system and join General Meeting on NSDL e-Voting
Individual shareholders are given below: system?

a) If you are already registered for e-Voting, then 1. After successful login at Step 1, you will be able to see
you can user your existing password to login and all the companies “EVEN” in which you are holding
cast your vote. shares and whose voting cycle and General Meeting
is in active status.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

2. Select “EVEN” of company for which you wish to D. Other Instructions:

cast your vote during the remote e-Voting period
1. The Board of Directors has appointed Mr. Puttaparthi
and casting your vote during the General Meeting.
Jagannatham, Corporate Advocate, and Practicing
For joining virtual meeting, you need to click on “VC/
Company Secretary as the Scrutinizer to scrutinise
OAVM” link placed under “Join General Meeting”.
the remote e-Voting process as well as e-voting
3. Now you are ready for e-Voting as the Voting page during the AGM in a fair and transparent manner.
opens.
The Scrutinizer shall immediately after the conclusion
4. Cast your vote by selecting appropriate options i.e. of voting at the AGM, unblock the votes cast through
assent or dissent, verify/modify the number of shares remote e-Voting (votes cast during the AGM and
for which you wish to cast your vote and click on votes cast prior to the AGM) and make consolidated
“Submit” and also “Confirm” when prompted. Scrutiniser’s Report and submit the same to the
Chairperson.
5. Upon confirmation, the message “Vote cast
successfully” will be displayed. The result of e-voting will be declared within two
working days of the conclusion of the Meeting and
6. You can also take the printout of the votes cast by you
the same, along with the consolidated Scrutiniser’s
by clicking on the print option on the confirmation
Report, will be placed on the website of the Company:
page.
www.in10stech.com and on the website of NSDL
7. Once you confirm your vote on the resolution, you will www.evoting.nsdl.com immediately. The result
not be allowed to modify your vote. will simultaneously be communicated to the stock
exchanges where the shares of the company are
B. The instructions for e-Voting during the AGM are as
listed.
under:
18. Process for those shareholders whose email ids are not
1. The procedure for remote e-Voting during the AGM is
registered with the depositories for procuring user id and
same as the instructions mentioned above for remote
password and registration of e mail ids for e-voting for
e-Voting since the Meeting is being held through VC/
the resolutions set out in this notice:
OAVM.
1. In case shares are held in physical mode please
2. Only those Members/Shareholders, who will be
provide Folio No., Name of shareholder, scanned copy
present in the AGM through VC/OAVM facility and
of the share certificate (front and back), PAN (self
have not cast their vote on the Resolutions through
attested scanned copy of PAN card), AADHAR (self
remote e-Voting and are otherwise not barred from
attested scanned copy of AADHAAR Card) by email
doing so, shall be eligible to vote on such resolution(s)
to [email protected]
through e-Voting system at the AGM.
2. In case shares are held in demat mode, please provide
C. General Guidelines for Shareholders: DPID-CLID (16 digit DPID + CLID or 16 digit beneficiary
1. Institutional shareholders (i.e. other than individuals, ID), Name, client master or copy of Consolidated
HUF, NRI etc.) are required to send scanned copy Account statement, PAN (self attested scanned copy
(PDF/ JPG Format) of the relevant Board Resolution/ of PAN card), AADHAR (self attested scanned copy
Authority letter etc. with attested specimen signature of AADHAAR Card) to [email protected]. If you are
of the duly authorized signatory(ies) who are an Individual shareholders holding securities in demat
authorized to vote, to the Scrutinizer by e-mail to mode, you are requested to refer to the login method
[email protected] with a copy marked to explained at step 1 (A) i.e. Login method for e-Voting
[email protected]. and joining virtual meeting for Individual shareholders
holding securities in demat mode.
2. It is strongly recommended not to share your
3. Alternatively shareholder/members may send a
password with any other person and take utmost
request to [email protected] for procuring user
care to keep your password confidential. Login to
id and password for e-voting by providing above
the e-voting website will be disabled upon five
mentioned documents.
unsuccessful attempts to key in the correct password.
In such an event, you will need to go through the 4. In terms of SEBI circular dated December 9, 2020
“Forgot User Details/Password?” or “Physical User on e-Voting facility provided by Listed Companies,
Reset Password?” option available on www.evoting. Individual shareholders holding securities in demat
nsdl.com to reset the password. mode are allowed to vote through their demat
account maintained with Depositories and Depository
3. In case of any queries, you may refer the Frequently Participants. Shareholders are required to update
Asked Questions (FAQs) for Shareholders and their mobile number and email ID correctly in their
e-voting user manual for Shareholders available at the
demat account in order to access e-Voting facility.
download section of www.evoting.nsdl.com or call on
toll free no.: 1800 1020 990 and 1800 22 44 30 or
send a request to [email protected].

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Annual Report 2022-23
19. Notice for shareholders/investors for unpaid dividends receiving dividend, members are requested to update
their bank account details with their Depository
Pursuant to the provisions of Investor Education and
Participants in case securities are held in demat mode
Protection Fund (Uploading of information regarding
and members holding securities in physical form
unpaid and unclaimed amounts lying with companies)
should send a request for updating their bank details
Rules as amended from time to time, the Company has
to the Company’s Registrar & Share Transfer Agents.
uploaded the details of unclaimed/ unpaid amounts lying
with the Company as on September 22, 2022 on the iv) Payment of Dividend shall be subject to deduction of
website of the Company and also on the website of the tax at source (TDS) at applicable rates as notified by
Ministry of Corporate Affairs, the information in respect of the Government of India.
such unclaimed/ unpaid dividend.
v) Members are requested to notify immediately any
Pursuant to the provisions of Sections 124 and 125 of the change of address and other relevant correspondence
Companies Act, 2013, the amount of dividend along with including NECS/ECS/NEFT/RTGS details and
the remaining unclaimed for a period of seven years is to submission of Permanent Account Number (PAN)
be transferred to Investor Education and Protection Fund.
a. to their Depository Participants (DPs) in respect
Information in respect of such unclaimed dividend when
of their electronic share accounts; and
due for transfer to the said Fund.
b. to the Company at its registered office or
Members who have not encashed the dividend warrants
the Registrar & Transfer Agent, M/s KFin
so far in respect of the aforesaid periods are requested to
Technologies Limited (Selenium Tower B, Plot 31-
send their claims, if any, to the company well in advance
32, Gachibowli, Financial District, Nanakramguda,
before due dates.
Hyderabad-500032) in respect of their physical
20. PROCEDURE FOR INSPECTION OF DOCUMENTS: shares, if any, quoting their folio number, Banker’s
name and account number to ensure prompt and
The Register of Directors and Key Managerial Personnel
safe receipt of dividend warrants
and their Shareholding maintained under Section 170 of
the Act, and the Register of Contracts or Arrangements vi) Manner of registering mandate for receiving Dividend:
in which the directors are interested, maintained under
a) with their Depository Participant(s) with whom
Section 189 of the Act, and relevant documents referred
they maintain their demat accounts if shares are
to in the Notice or explanatory statement will be available
held in dematerialised mode by submitting the
electronically for inspection by the Members during the
requisite documents, and
AGM. Members seeking to inspect such documents can
send an e-mail to [email protected] b) with the Company / KFinTech by clicking on
https://ris.kfintech.com/form15 or by emailing
21. DIVIDEND RELATED INFORMATION
at [email protected] or einward.ris@kfintech.
i) The Board of Directors recommended a final dividend com, if shares are held in physical mode, by
on equity shares at the rate of 25% i.e. `0.50/- per submitting scanned copy of the (i) signed
Equity Share of face value of ` 2/- each for the request letter which shall contain member’s
Financial Year ended on March 31, 2023, subject to name, folio number, bank details (Bank account
approval of the Members at the AGM, the dividend number, Bank and Branch Name and address,
will be paid on Wednesday, 4th October, 2023, to the IFSC, MICR details), (ii) self-attested copy of the
Members whose names appear on the Company’s PAN card and (iii) cancelled cheque leaf. In case
Register of Members as on the Record Date and in shares are held in dematerialised mode, details in
respect of the shares held in dematerialised mode, to a form prescribed by your Depository Participant
the Members whose names are furnished by National may also be required to be furnished.
Securities Depository Limited and Central Depository
vii) Pursuant to the amendments introduced by the
Services (India) Limited as beneficial owners as on
Finance Act, 2020 the Company will be required to
that date. The dispatch of dividend warrants/demand
withhold taxes at the prescribed rates on the dividend
drafts will be completed on same day.
paid to its members w.e.f. April 01, 2020. No tax will
ii) The Company has notified closure of Register of be deducted on payment of dividend to the resident
Members and Share Transfer Books from Saturday, individual members if the total dividend paid does not
23rd September, 2023 to Friday, 29th September, exceed `5,000/-, The withholding tax rate would vary
2023 (both days inclusive) for determining the names depending on the residential status of the member and
of member(s) eligible for dividend on Equity Shares, documents registered with the Company as follows:
if declared at the Meeting.
iii) As per relevant Circulars, payment of dividend shall be
made through electronic mode to the members who
have updated their bank account details. Dividend
Warrants/ Demand Drafts will be dispatched to the
registered address of the members who have not
updated their bank account details. To avoid delay in

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

A. RESIDENT MEMBERS:
A.1 Tax Deductible at Source for Resident Members
Sl No Particulars Withholding tax rate Documents required (if any)
Valid PAN updated in the Company’s No document required (if no exemption is
1 10%
Register of Members sought)
No PAN/Valid PAN not updated in the No document required (if no exemption is
2 20%
Company’s Register of Members sought)
Availability of lower/nil tax deduction
certificate issued by Income Tax Rate specified in the Lower tax deduction certificate obtained from
3
Department u/s 197 of Income Tax Act, certificate Income Tax Authority
1961
A.2 No Tax Deductible at Source on dividend payment to resident members if the Members submit and register following
documents as mentioned below table with the Company/Kfintech

Sl Withholding
Particulars Documents required (if any)
No tax rate
Declaration in Form No. 15G (applicable to any person
other than a company or a firm) / Form 15H (applicable to
1 Submission of form 15G/15H Nil
an Individual who is 60 years and above), fulfilling certain
conditions.
Members to whom section 194 of the Income Documentary evidence that the said provisions are not
2 Nil
Tax,1961 does not apply such as LIC, GIC, etc. applicable
Member covered u/s 196 of Income Tax Act,
Documentary evidence for coverage u/s 196 of Income Tax
3 1961such as Government, RBI, corporations Nil
Act, 1961
established by Central Act & mutual funds
Category I and II Alternative investment SEBI registration certificate to claim benefit under section
4 Nil
Fund 197A(1F) of Income Tax Act, 1961
• Recognised provident funds
Necessary documentary evidence as per Circular No. 18/2017
5 • Approved superannuation fund Nil
issued by Central Board of Direct Taxes(CBDT)
• Approved gratuity fund
6 National Pension Scheme Nil No TDS as per section 197A (1E) of Income Tax Act, 1961

B. NON-RESIDENT MEMBERS:
Withholding tax on dividend payment to non-resident members if the non-resident members submit and register
following document as mentioned in the below table with the Company / RTA.

Sl
Particulars Withholding Tax rate Documents required (if any)
No
1 Foreign Institutional 20% (plus applicable FPI registration number / certificate
Investors (FIIs) / Foreign surcharge and cess)
Portfolio Investors (FPIs)
2 Other Non-resident 20% (plus applicable To avail beneficial rate of tax treaty following tax documents would be
members surcharge and cess) required:
or tax treaty rate i. Tax Residency certificate issued by revenue authority of country of
whichever is beneficial residence of member for the year in which dividend is received
ii. PAN
iii. Form 10F filled & duly signed
iv. Self-declaration for non-existence of permanent establishment/
fixed base in India
(Note: Application of beneficial Tax Treaty Rate shall depend upon the
completeness of the documents submitted by the Non- Resident member
and review to the satisfaction of the Company)
3 Indian Branch of a NIL Lower tax deduction certificate u/s 195(3) obtained from Income Tax
Foreign Bank Authority Self-declaration confirming that the income is received on its
own account and not on behalf of the Foreign Bank
4 Availability of Lower/NIL Rate specified in Lower tax deduction certificate obtained from Income Tax Authority
tax deduction certificate certificate
issued by Income Tax
Department u/s 197 of
Income Tax Act, 1961

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Annual Report 2022-23
Notes:
i. The Company will issue soft copy of the TDS certificate to its members through email registered with the Company / Kfintech post payment of
the dividend. Members will be able to download the TDS certificate from the Income Tax Department’s website https://incometaxindiaefiling.
gov.in (refer to Form 26AS).
ii. The aforesaid documents such as Form 15G/ 15H, documents under section 196, 197A, FPI Registration Certificate, Tax Residency Certificate,
Lower Tax certificate etc. can be uploaded on the link https://ris.kfintech.com/form15/ on or before September 10, 2023 to enable the
Company to determine the appropriate TDS / withholding tax rate applicable. Any communication on the tax determination/deduction
received post September 10, 2023 shall not be considered.
iii. Application of TDS rate is subject to necessary verification by the Company of the member details as available in Register of Members as on
the Record Date and other documents available with the Company / RTA.
iv. In case TDS is deducted at a higher rate, an option is still available with the member to file the return of income and claim an appropriate
refund.
v. In the event of any income tax demand (including interest, penalty, etc.) arising from any misrepresentation, inaccuracy or omission of
information provided by the Member(s), such Member(s) will be responsible to indemnify the Company and also provide the Company with
all information/documents and co-operation in any appellate proceedings.
vi. This Communication is not exhaustive and does not purport to be a complete analysis or listing of all potential tax consequences in the
matter of dividend payment. Members should consult their tax advisors for requisite action to be taken by them.

22. OTHER INFORMATION:

1. In terms of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”),
securities of listed companies can only be transferred in dematerialized form with effect from April 1, 2019, except in
case of transmission or transposition of securities. In view of the above, Members are advised to dematerialize shares
held by them in physical form.
2. Members are requested to follow the process detailed below and intimate changes, if any, pertaining to their name,
postal address, e-mail address, telephone/mobile numbers, Permanent Account Number (PAN), mandates, nominations,
power of attorney, bank details such as, name of the bank and branch details, bank account number, MICR code, IFSC
code, etc.

Type of
Process to be followed
holder
For availing the following investor services, send a written request in the prescribed forms to the RTA of the Company,
KFin Technologies Limited either by email to [email protected] or by post to Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda, Serilingampally Mandal, Hyderabad – 500032.
Form for availing investor services to register PAN, email address, bank details and other
Form ISR-1
KYC details or changes / update thereof for securities held in physical mode
Update of signature of securities holder Form ISR-2

Physical For nomination as provided in the Rules 19 (1) of Companies (Share capital and debenture)
Form SH-13
Rules, 2014
Declaration to opt out Form ISR-3
Cancellation of nomination by the holder(s) (along with ISR-3) / Change of Nominee Form SH-14
Form for requesting issue of Duplicate Certificate and other service requests for shares /
Form ISR-4
debentures / bonds, etc., held in physical form
The forms for updating the above details are available at https://in10stech.com/
Please contact your DP and register your email address and bank account details in your demat account, as per the
Demat
process advised by your DP.

3. Members may also note that the 33rd Annual Report for the financial year 2022-23 will also be available on the Company’s
website www.in10stech.com. For any communication, the members may also send requests to the Company’s investor
email id: [email protected].
By Order of the Board of Directors
Sd/-
Registered Office: Pratyusha Podugu
A1, Vikrampuri, Company Secretary & Compliance Officer
Secunderabad - 500 009 M. No: ACS-71069
Telangana, India
CIN: L30007TG1990PLC011510 Date: July 25, 2023
Ph: 040 44558585/27849019/27844551 Place: Secunderabad
E-mail: [email protected]

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Explanatory Statement pursuant or in excess of the limits laid down under the applicable
sections of the Act and SEBI Listing Regulations.
to Section 102 of the Companies
c) The Managing Director will also be a member of the Group
Act, 2013 Medical and Personal Accident Insurance policies of the
Company.
d) Exempted perquisite: In addition to the perquisites referred
As required under Section 102 of the Companies Act, 2013
above, he will also be eligible to the following perquisites,
(hereinafter referred to as (“the Act”) the following Statement
which shall not be included in the computation of the
sets out all material facts relating to the Special Business
ceiling on remuneration.
mentioned in the Notice.
• Contribution to provident fund, superannuation fund
or annuity fund to the extent these either singly or put
Item No.4. together are not taxable under the IT Act;
The Shareholders of the Company, at their 30th Annual General • Gratuity as per the Act;
Meeting held on September 30, 2020 appointed Mr. C. K.
Shastri (DIN: 00329398) as Managing Director of the Company • Encashment of leave at the end of the tenure; and
for a term of 3 years upto September 30, 2023, not liable to • Reimbursement of expenses incurred for the business
retire by rotation. of the Company.
The Board of Directors and the Nomination and Remuneration e) Subject to the applicable provisions of the Act, perquisites
Committee, approved re-appointment of Mr. C. K. Shastri (DIN: and allowances shall be evaluated as per Income Tax Rules,
00329398) as Managing Director, not liable to retire by rotation, 1962 (“IT Rules”), wherever applicable and at cost, in the
for a further period of 3 (Three) years from October 1, 2023 absence of any such rule.
upto September 30, 2026 on terms and conditions including
remuneration as recommended by the Nomination and f) Subject to the superintendence, control and direction
Remuneration Committee of the Board and approved by the of the Board, the Managing Director shall manage and
Board from time to time, subject to approval of Shareholders at conduct the business and affairs of the Company.
this Annual General Meeting. Wherein in any financial year, the Company has no profits
Broad particulars of the terms of re-appointment and or its profits are inadequate, the foregoing amount of
remuneration payable to Mr. C. K. Shastri are as under: remuneration and benefits shall be paid, subject to the
limits prescribed in Schedule V of the Companies Act,
Remuneration: 2013.

The Minimum Remuneration during the above tenure should be Brief profile of Mr. C. K. Shastri, nature of his expertise in
in the pay scale of `8,00,000/- per month (Rupees Eight lakhs specific functional areas and names of companies in which
only) which includes basic salary, taxable perquisites and other he holds directorships and memberships / chairmanships
allowance but excluding perquisites to the extent exempted of Board Committees, shareholding and relationships
under the Income-tax Act, 1961 (“IT Act”). between directors inter-se as stipulated under SEBI (Listing
Obligation & Disclosure Requirements) Regulations, 2015,
Other Terms and Conditions: Companies Act, 2013 and Secretarial Standard on General
Meetings (“SS-2”), issued by the Institute of Company
a) Perquisites: Subject to overall ceiling as aforesaid, Secretaries of India (ICSI) New Delhi is as follows.
Managing Director shall have liberty to opt for such other
allowances, perquisites and incentive as he deems fit
including house rent allowance, medical reimbursement,
leave travel concession for self and family, club fees, use
of Company cars and such other allowances, benefits,
amenities and facilities etc., as per the Company’s rules
or as may be agreed to between the Board and Managing
Director.
b) Commission: 5% of net profits of the Company for a
financial year, provided that the net profit of the company
shall be computed under Section 198 of the Act, based
upon the Audited Annual Financial Statements for that
financial year.
Any increase or decrease in the amount of Commission
would be determined by the Board in such a manner as
may be mutually agreed, based on the net profits of the
Company in a particular year during his tenure, beyond

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Annual Report 2022-23
 Name of the Director Mr. C.K. Shastri
Director Identification Number 00329398
Date of Birth 31st December, 1958
Date of first appointment 1st July, 2010
Nationality Indian
Profile / Qualifications & Is a B.Com & P.G. Diploma in Marketing having 42 years of Business Experience including
Experience 24 years in I.T. Industry. He is passionate about business excellence, entrepreneurship and
India’s place on the global stage for excellence in enterprise software products. He believes in
‘leadership through transparency and empowerment’ and as a top management professional
has set an example in corporate excellence by adhering to the best practices in management,
leadership and motivation. Overall, he is a people person, passionate about building teams
and mentoring miracles.
Remuneration Proposed to be As detailed above in the Explanatory Statement
paid
Directorships held in other Company Type Company Name Begin Date
Companies Public Limited - -
Private Limited I - TRACE NANOTECH PRIVATE LIMITED 01-04-2008
(CIN: U74999TG2008PTC058474)
PAVISARA GREENTECH PRIVATE LIMITED 12-07-2013
(CIN: U24232TG2013PTC088925)
LLP CKAJ ADVISORY LLP (LLPIN: AAX-5003) 22-06-2021
Chairman/Member of the Nil
Committees of the Boards of
other companies in which he is
Director
Shareholding in the Company 25,28,592 equity shares
(No’s)
Relationship with Other Except Ms. C. Anisha Shastri , not related to any other Director / Key Managerial Personnel
Directors, Manager and other
Key Managerial Personnel of
the Company.
*8,00,000 equity shares were allotted to Mr. Krishna Shastri Chidella, upon conversion of Warrants allotted under Preferential basis by the
Company on 22nd February, 2023 and Listing & Trading Approvals from Stock Exchanges (Both BSE & NSE) were given on 20th June, 2023.

Mr. C.K. Shastri and Ms. C. Anisha Shastri are relatives and rotation, for a further period of 3 (Three) years from October
their other relatives, to the extent of their shareholding 1, 2023 upto September 30, 2026 on terms and conditions
interest and Directorship in the Company, may be deemed to including remuneration as recommended by the Nomination
be concerned or interested. None of the other Directors/ Key and Remuneration Committee of the Board and approved by
Managerial Personnel of the Company / their relatives are, in the Board from time to time, subject to approval of Shareholders
any way, concerned or interested, financially or otherwise, in at this Annual General Meeting.
the resolution.
Broad particulars of the terms of re-appointment and
The Board of Directors recommends the Special Resolution set remuneration payable to Mr. Jayant Dwarkanath are as under:
out in item No.4 of the Notice for approval of the Shareholders.
Remuneration:
Item No. 5.
The Minimum Remuneration during the above tenure should
The Shareholders of the Company, at their 30th Annual General be in the pay scale of Rs 8,00,000/- per month (Rupees Eight
Meeting held on September 30, 2020 appointed Mr. Jayant lakhs only) which includes basic salary, taxable perquisites
Dwarkanath (DIN: 00329597) as Whole Time Director of the and other allowance but excluding perquisites to the extent
Company for a term of 3 years upto September 30, 2023, not exempted under the IT Act.
liable to retire by rotation.
Other Terms and Conditions:
The Board of Directors and the Nomination and Remuneration
a) Perquisites: Subject to overall ceiling as aforesaid, the
Committee, approved re-appointment of Mr. Jayant Dwarkanath
Whole-time Director shall have liberty to opt for such
(DIN: 00329597) as Whole Time Director, not liable to retire by
other allowances, perquisites and incentive as he deems fit

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

including house rent allowance, medical reimbursement, d) Exempted perquisite: In addition to the perquisites referred
leave travel concession for self and family, club fees, use above, he will also be eligible to the following perquisites,
of Company cars and such other allowances, benefits, which shall not be included in the computation of the
amenities and facilities etc., as per the Company’s rules or ceiling on remuneration.
as may be agreed to between the Board and the Director. • Contribution to provident fund, superannuation fund
b) Commission: 5% of net profits of the Company for a or annuity fund to the extent these either singly or put
financial year, provided that the net profit of the company together are not taxable under the IT Act;
shall be computed under Section 198 of the Act, based • Gratuity as per the Act;
upon the Audited Annual Financial Statements for that • Encashment of leave at the end of the tenure; and
financial year.
• Reimbursement of expenses incurred for the business
Any increase or decrease in the amount of Commission of the Company.
would be determined by the Board in such a manner as
e) Subject to the applicable provisions of the Act, perquisites
may be mutually agreed, based on the net profits of the
and allowances shall be evaluated as per IT Rules, wherever
Company in a particular year during his tenure, beyond
applicable and at cost, in the absence of any such rule.
or in excess of the limits laid down under the applicable
sections of the Act and SEBI Listing Regulations. f) Subject to the superintendence, control and direction
of the Board, Mr. Jayant Dwarkanath (DIN: 00329597)
c) Mr. Jayant Dwarkanath (DIN: 00329597) will also be a
shall manage and conduct the business and affairs of the
member of the Group Medical and Personal Accident
Company.
Insurance policies of the Company.

Wherein in any financial year, the Company has no profits or its profits are inadequate, the foregoing amount of remuneration and
benefits shall be paid, subject to the limits prescribed in Schedule V of the Companies Act, 2013.
Brief profile of Mr. Jayant Dwarkanath, nature of his expertise in specific functional areas and names of companies in which he
holds directorships and memberships / chairmanships of Board Committees, shareholding and relationships between directors
inter-se as stipulated under SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and
Secretarial Standard on General Meetings (“SS-2”), issued by the Institute of Company Secretaries of India (ICSI) New Delhi is as
follows.

Name of the Mr. Jayant Dwarkanath

Director
Director 00329597
Identification
Number
Date of Birth 06th September, 1964
Date of first 01/10/2009
appointment
Nationality Indian
Profile / Is a Bachelor of Engineering and an MBA from Osmania University having 36 years of Experience in Banking
Qualifications and I.T. Industry. He looks after the overseas operations of the company and has been instrumental in
& Experience tie-ups with global majors for overseas distribution of the company's software products. He is exploring
opportunities in the US and Europe. He does not see the world in terms of clients or partners, rather as one
comprising of excellence-oriented corporations to whom he would like to hold out the invitation – to join our
network and benefit from our enterprise agility, document management, process agility and information-
driven customer life-cycle management paradigms – and profit from it.
Remuneration As detailed above in the Explanatory Statement
Proposed to
be paid

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Annual Report 2022-23
 Directorships Company Type Company Name Begin Date
held in other Public Limited - -
Companies
Private Limited KADAMBI ENGINEERING CONSULTANTS 04-05-2009
PRIVATE LIMITED
(CIN:U74999TG2009PTC063529)
REASY APPS PRIVATE LIMITED 30-08-2022
(CIN: U72200KA2022PTC165571)
LLP CKAJ ADVISORY LLP 22-06-2021
(LLPIN: AAX-5003)

Chairman/ Nil
Member of the
Committees
of the Boards
of other
companies in
which he is
Director
Shareholding 12,95,635 equity shares
in the
Company
(No’s)
Relationship Not related to any Director / Key Managerial Personnel
with Other
Directors,
Manager and
other Key
Managerial
Personnel of
the Company.

None of the other Directors/ Key Managerial Personnel of Remuneration:

the Company / their relatives are, in any way, concerned or
The Minimum Remuneration during the above tenure should
interested, financially or otherwise, in the resolution.
be in the pay scale of `3,50,000/- per month (Rupees Three
The Board of Directors recommends the Special Resolution set lakh fifty thousand only) which includes basic salary, taxable
out in item No.5 of the Notice for approval of the Shareholders. perquisites and other allowance but excluding perquisites to
the extent exempted under the IT Act.
Item No. 6.
Other Terms and Conditions:
The Shareholders of the Company, at their 30th Annual
General Meeting held on September 30, 2020 appointed Ms. C. a) Perquisites: Subject to overall ceiling as aforesaid, the
Anisha Shastri (DIN: 08154544) as Whole Time Director of the Whole-time Director shall have liberty to opt for such
Company for a term of 3 years upto September 30, 2023, not other allowances, perquisites and incentive as he deems fit
liable to retire by rotation. including house rent allowance, medical reimbursement,
leave travel concession for self and family, club fees, use
The Board of Directors and the Nomination and Remuneration
of Company cars and such other allowances, benefits,
Committee, approved re-appointment of Ms. C. Anisha Shastri
amenities and facilities etc., as per the Company’s rules or
(DIN: 08154544) as Whole Time Director, not liable to retire by
as may be agreed to between the Board and the Director.
rotation, for a further period of 3 (Three) years from October
1, 2023 upto September 30, 2026 on terms and conditions b) Commission: 5% of net profits of the Company for a
including remuneration as recommended by the Nomination financial year, provided that the net profit of the company
and Remuneration Committee of the Board and approved by shall be computed under Section 198 of the Act, based
the Board from time to time, subject to approval of Shareholders upon the Audited Annual Financial Statements for that
at this Annual General Meeting. financial year.
Broad particulars of the terms of re-appointment and Any increase or decrease in the amount of Commission
remuneration payable to Ms. C. Anisha Shastri are as under: would be determined by the Board in such a manner as
may be mutually agreed, based on the net profits of the

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Company in a particular year during his tenure, beyond or in excess of the limits laid down under the applicable sections of
the Act and SEBI Listing Regulations.
c) Ms. C. Anisha Shastri (DIN: 08154544) will also be a member of the Group Medical and Personal Accident Insurance policies
of the Company.
d) Exempted perquisite: In addition to the perquisites referred above, she will also be eligible to the following perquisites, which
shall not be included in the computation of the ceiling on remuneration.
• Contribution to provident fund, superannuation fund or annuity fund to the extent these either singly or put together are
not taxable under the IT Act;
• Gratuity as per the Act;
• Encashment of leave at the end of the tenure; and
• Reimbursement of expenses incurred for the business of the Company.
e) Subject to the applicable provisions of the Act, perquisites and allowances shall be evaluated as per IT Rules, wherever
applicable and at cost, in the absence of any such rule.
f) Subject to the superintendence, control and direction of the Board, Ms. C. Anisha Shastri (DIN: 08154544) shall manage and
conduct the business and affairs of the Company.
Wherein in any financial year, the Company has no profits or its profits are inadequate, the foregoing amount of remuneration and
benefits shall be paid, subject to the limits prescribed in Schedule V of the Companies Act, 2013.
Brief profile of Ms. C. Anisha Shastri , nature of his expertise in specific functional areas and names of companies in which she
holds directorships and memberships / chairmanships of Board Committees, shareholding and relationships between directors
inter-se as stipulated under SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, Companies Act, 2013 and
Secretarial Standard on General Meetings (“SS-2”), issued by the Institute of Company Secretaries of India (ICSI) New Delhi is as
follows.

Name of the Director Ms. C. Anisha Shastri

Director Identification Number 08154544
Date of Birth 17th January, 1990
Date of first appointment 27/07/2018
Nationality Indian
Profile / Qualifications & Experience Is a B.Tech and MBA having a diverse experience of working with large enterprises, SMEs
and startups. Her expertise lies in building corporate and product strategies. Having
consulted for large clients in the Telecommunications, BFSI and Health Care industries,
she comes with immense domain knowledge in these industries and a strong passion to
solve problems. She holds an MBA in Entrepreneurship from Babson College, U.S.A and
a Bachelor of Engineering, Information Technology from Osmania University. Currently,
Anisha handles business strategy and overseas growth for Intense.
Remuneration Proposed to be paid As detailed above in the Explanatory Statement
Directorships held in other Companies Company Type Company Name Begin Date
Public Limited - -
Private Limited REASY APPS PRIVATE LIMITED 30-08-2022
(CIN: U72200KA2022PTC165571)
LLP CKAJ ADVISORY LLP 22-06-2021
(LLPIN: AAX-5003)
Chairman/Member of the Committees of the Boards Nil
of other companies in which she is Director
Shareholding in the Company (No’s) 726 equity shares
Relationship with Other Directors, Manager and Except Ms. C K Chidella Shastri, not related to any other Director / Key Managerial
other Key Managerial Personnel of the Company. Personnel

Mr. C.K. Shastri and Ms. C. Anisha Shastri are relatives and their other relatives, to the extent of their shareholding interest
and Directorship in the Company, may be deemed to be concerned or interested. None of the other Directors/ Key Managerial
Personnel of the Company / their relatives are, in any way, concerned or interested, financially or otherwise, in the resolution.

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Annual Report 2022-23
The Board of Directors recommends the Special Resolution set Your Company believes that equity-based compensation plans
out in item No.6 of the Notice for approval of the Shareholders. are an effective tool to reward and retain the talents working
with the Company. With a view to attract, retain, motivate
Item No. 7.
its employees and improve performance of the Company
With a view to broad base the Board with respect to composition for ensuring sustained growth, your Company intends
of Board of Directors of the Company, the Board at its Meeting to implement a restricted stock unit plan namely Intense
held on July 25, 2023, on the recommendations of the Technologies Limited - Restricted Stock Unit Plan 2023 (“RSU
Nomination and Remuneration Committee, inducted Mr. Gopala Plan 2023”/“Plan”) to such employees as may be determined by
Krishna Dhanyamraju (DIN: 08217921), as an Additional Director the Nomination and Remuneration Committee in terms of the
in the category of Non- Executive Independent Director of the Plan, with the authority to grant not exceeding 5,00,000 (Five
Company for a term of 5 (Five) consecutive years w.e.f. July 25, lakhs) Restricted Stock Units (“RSU”) in one or more tranches,
2023, subject to the approval of shareholders of the Company. from time to time, which in aggregate shall be exercisable into
Mr. Gopala Krishna Dhanyamraju (DIN: 08217921) has submitted not more than 5,00,000 (Five lakhs) equity shares of face value
a declaration that he meets the criteria for independence as of Rs 2 (Rupees two) each fully paid-up, (as adjusted for any
provided in Section 149(6) of the Companies Act,2013 along changes in the capital structure of the Company), with each
with the rules framed thereunder and Regulation 16(1)(b) of such RSU conferring a right upon the employees to apply for
SEBI Listing Regulations. The Company has received notice in one equity share in the Company in accordance with the terms
writing from a member under Section 160 of the Companies and conditions as may be decided under the Plan.
Act, 2013 proposing the candidature of Mr. Gopala Krishna
Accordingly, the Nomination and Remuneration Committee
Dhanyamraju (DIN: 08217921) as a Non-Executive Independent
(“Committee”) and the Board of Directors of the Company,
Director of the Company.
both at their meetings held on 25th July, 2023 have approved
Mr. Gopala Krishna Dhanyamraju (DIN: 08217921) aged about the introduction of the Plan, subject to approval of Shareholders
60 years is a veteran from Indian Air Force, is a 1st Class Graduate of the Company vide a Special Resolution.
in Bachelor of Commerce. He has an experience of over 32 years
The main features of the Plan are as under:
in the Indian Air Force. He held prestigious positions as Senior
Accountant Officer in various operational units and served as A. Brief Description of the Plan:
Joint Director Finance of Air Head Quarters Non-Public Funds. Keeping in view, the aforesaid objectives, the Plan
He is highly regarded for skilled leadership, financial integrity contemplates grant of RSUs to such employees as may be
and exceptional teamwork. He is a vivid golfer. determined by the Committee in terms of the Plan. After
vesting of RSUs, such employees earn a right, but not an
In compliance with Listing Regulations and Secretarial
obligation, to exercise the vested RSUs within the exercise
Standards-2 on General Meetings, the brief resume of Mr.
period and obtain equity shares of the Company subject
Gopala Krishna Dhanyamraju (DIN: 08217921) is separately
to payment of exercise price and satisfaction of any tax
annexed and forming part of this notice.
obligation arising thereon.
The Board considers that association of Mr. Gopala Krishna
The Committee shall act as compensation committee
Dhanyamraju (DIN: 08217921) as a Non-Executive Independent
for the administration of the Plan. All questions of
Director would be of immense benefit to the Company. In
interpretation of the Plan shall be determined by the
the opinion of the Board, Mr. Gopala Krishna Dhanyamraju
Committee and such determination shall be final and
(DIN: 08217921) fulfills the conditions for his appointment as
binding upon all persons having an interest in the Plan.
an Independent Director as specified in the Companies Act,
2013 and SEBI (Listing Obligation & Disclosure Requirements) B. Total number of restricted stock units to be granted:
Regulation, 2015 as amended from time to time. The total number of RSUs to be granted under the Plan
shall not exceed 5,00,000 (Five lakhs) RSUs which upon
A copy of the draft letter of appointment of Mr. Gopala Krishna
exercise shall be convertible into not more than 5,00,000
Dhanyamraju (DIN: 08217921) has been uploaded on the
(Five lakhs) equity shares of face value of Rs 2 (Rupees
website of the company at www.in10stech.com and available
two) each fully paid-up, (as adjusted for any changes in
for inspection.
the capital structure of the Company). Each RSU when
Save and except the appointee, none of the other Directors / exercised would be converted into one equity share of Rs
Key Managerial Personnel of the Company / their relatives are, 2 (Rupees two) each fully paid-up, (as adjusted for any
in any way, concerned or interested, financially or otherwise, in changes in the capital structure of the Company). Further,
the resolution set out at Item No.7 of the Notice. Securities and Exchange Board of India (Share Based
Employee Benefits and Sweat Equity) Regulations, 2021
The Board recommends the Ordinary Resolution set out at Item
(“SEBI SBEB & SE Regulations”) require that in case of any
No.7 of the Notice for approval by the shareholders.
corporate action such as rights issue, bonus issue, merger,
Item No. 8. sale of division etc., a fair and reasonable adjustment
needs to be made to the RSUs granted. In this regard,
Equity based compensation is considered to be an integral the Committee shall adjust the number and price of the
part of employee compensation across sectors which RSUs granted in such a manner that the total value of the
enables alignment of personal goals of the employees with RSUs granted under the Plan shall remain the same after
organizational objectives by participating in the ownership any such corporate action. Accordingly, if any additional
of the Company through stock-based compensation scheme. RSUs are issued by the Company to the grantees for

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

making such fair and reasonable adjustment, the ceiling of from the date of respective vesting or such other shorter
5,00,000 (Five lakhs), shall be deemed to be increased to period as may be decided by the Committee from time to
the extent of such additional RSUs issued. time.
C. Identification of classes of employees entitled to The vested RSUs shall be exercisable by the grantees by
participate and be beneficiaries in the Plan: an application to the Company expressing his/her desire
Subject to determination or selection by the Committee, to exercise such RSUs in such manner and on such format
the following classes of employees/directors are eligible as may be prescribed by the Committee from time to time.
being: Exercise of RSUs shall be entertained only after payment
(i) an employee as designated by the Company, who is of requisite exercise price and satisfaction of applicable
exclusively working in India or outside India; or taxes by the grantee. The RSUs shall lapse if not exercised
within the specified exercise period.
(ii) a director of the Company, whether whole time or
not, including a non-executive director who is not H. Appraisal process for determining the eligibility of
a promoter or member of the promoter group, but employees under the Plan:
excluding an independent director. The appraisal process for determining the eligibility shall
but excludes be determined by the Committee at its sole discretion from
time to time. The broad criteria for appraisal and selection
(i) an employee who is a promoter or belongs to the
may include parameters like tenure of association with
promoter group; and
the Company or its subsidiary company, performance
(ii) a director who either by himself or through his during the previous years, position and responsibilities of
relatives or through anybody corporate, directly or the concerned employee, contribution towards strategic
indirectly holds more than 10% of the issued and growth, contribution to team building and succession,
subscribed shares of the Company. corporate governance and other factors that may be
D. Requirements of Vesting and period of Vesting: deemed relevant for accomplishing the purpose of the
RSUs granted on any date shall vest not earlier than Plan
minimum period of 1 (one) year and not later than a I. Maximum number of RSUs to be issued per employee and
maximum period of 4 (four) years from the date of grant in aggregate:
of RSUs as may be determined by the Committee. The The maximum number of RSUs that may be granted to any
Committee may extend, shorten or otherwise vary the specific employee and in aggregate, under the Plan shall
vesting period from time to time subject to these minimum not exceed 3,00,000 (Three Lakh) RSUs.
and maximum vesting periods.
J. Maximum quantum of benefits to be provided per
The vesting dates in respect of the RSUs granted under employee under the Plan:
the Plan shall be determined by the Committee and may Apart from grant of RSUs as stated above, no monetary
vary from employee to employee or any class thereof and benefits are contemplated under the Plan.
/ or in respect of the number or percentage of RSUs to be
vested. K. Route of the Plan implementation:
The Plan shall be implemented and administered directly
RSUs shall vest essentially based on continuation of by the Company.
employment/service as per requirement of SEBI SBEB
& SE Regulations. In addition to this, the Committee L. Source of acquisition of shares under the Plan:
may also determine, at its sole discretion, certain criteria The Plan contemplates issue of fresh/primary equity
like designation, period of service, performance linked shares by the Company.
parameters viz., revenue targets, PBT targets etc., subject M. Amount of loan to be provided for implementation of
to satisfaction of which the RSUs would vest. Further, the the scheme(s) by the Company to the trust, its tenure,
Committee shall have the power to modify the allocation utilization, repayment terms etc.:
percentage of performance and tenure based RSUs, at the This is currently not contemplated under the present Plan.
time of grant, based on business requirements.
N. Maximum percentage of secondary acquisition:
E. Maximum period (subject to Regulation 18 (1) and 24 (1) This is not relevant under the present Plan.
of the regulations, as the case may be) within which the
options / benefit shall be vested: O. Accounting and Disclosure Policies:
RSUs granted on any date shall vest not later than a The Company shall follow the IND AS 102 on Share-based
maximum of 4 (four) years from the date of grant of RSUs Payments and/or any relevant accounting standards as may
as stated above. be prescribed by the Institute of Chartered Accountants
of India (“ICAI”) or any other appropriate authority,
F. Exercise price or pricing formula: from time to time, including the disclosure requirements
The exercise price per RSU shall be the face value of equity prescribed therein, in compliance with relevant provisions
share of the Company as on the grant date. of SEBI SBEB & SE Regulations. In case, the existing
G. Exercise period and the process of exercise: guidance note or accounting standards do not prescribe
The exercise period would commence from the date of accounting treatment or disclosure requirements, any
vesting and will expire on completion of 4 (four) years other Accounting Standard that may be issued by ICAI or

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Annual Report 2022-23
 any other competent authority shall be adhered to in due compliance with the requirements of Regulation 15 of SEBI SBEB
& SE Regulations.
P. Method of RSUs valuation:
The Company shall adopt ‘fair value method’ for valuation of RSUs as prescribed under guidance note or under any accounting
standard, as applicable, notified by appropriate authorities from time to time.
Q. Lock-in period:
The shares issued pursuant to exercise of RSUs shall not be subject to any lock-in period restriction except such restrictions
as may be prescribed under applicable laws including that under the Code of Conduct framed by the Company under the
Securities and Exchange Board of India (Prohibition of Insider Trading), Regulations, 2015, as amended.
R. Terms and conditions for buy back, if any:
The Committee shall determine the procedure for buy-back of RSUs granted under the Plan if to be undertaken at any time
by the Company and the applicable terms and conditions including (i) permissible sources of financing for buy-back; (ii)
any minimum financial thresholds to be maintained by the Company as per its last financial statements; and (iii) limits upon
quantum of RSUs that the Company may buy-back in a financial year.
S. Voting rights
Equity shares so issued and allotted under RSUs 2023 shall rank pari-passu with the existing equity shares of the Company.
T. Declaration:
In case, the Company opts for expensing of share-based employee benefits using the intrinsic value, the difference between
the employee compensation cost so computed and the employee compensation cost that shall have been recognized if it had
used the fair value of the RSUs and the impact of this difference on profits and on Earning Per Share (EPS) of the Company
shall also be disclosed in the Directors’ Report.
Consent of the Shareholders is being sought by way of Special Resolution pursuant to Section 62(1)(b) and all other applicable
provisions, if any, of the Act and as per Regulation 6 of the SEBI SBEB & SE Regulations.

By Order of the Board of Directors

Sd/-
Pratyusha Podugu
Company Secretary & Compliance Officer
M. No: ACS-71069

Date: July 25, 2023

Place: Secunderabad
Registered Office:
A1, Vikrampuri,
Secunderabad - 500 009
Telangana, India
CIN: L30007TG1990PLC011510
Ph: 040 44558585/27849019/27844551
E-mail: [email protected]

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Annexure-1
Information of Director seeking re-appointment under Section 152 of the Companies Act, 2013, Regulation 36(3) of the SEBI
(Listing Obligations and Requirements) Regulations, 2015 and Secretarial Standard-2
Item No. 3:

1. Name of the Director Mr. Tikam Sujan

Director Identification Number 02137651
Date of Birth February 23, 1959
Date of First Appointment August 14, 2003
Qualifications B. Com in Commerce
Experience Mr. Tikam Sujan, has over 36 years of experience in various functional areas. He is
a successful NRI businessman based at Miami, Florida, USA, operating in American
geography.
His areas of experience include general management, foreign trade business strategy,
research & innovation amongst others
Remuneration Nil
List of Directorships held in other Nature of interest
Names of the Companies/bodies Date on which
Companies/ LLP as on 31/03/2023 Sl. or concern /
corporate/firms/ association of interest or concern
No. Change in interest
individuals arose/changed
or concern
1 Satvadhara Eco Solutions Private Director 01/07/2019
Limited
2 Pavisara Greentech Private Limited Director 12/07/2013
3 Satvaayush Technologies Private Director 01/07/2019
Limited
Chairman/Member of the Nil
Committees of the Boards of other
companies in which he is Director as
on 31/03/2023
Shareholding in the Company 22,37,642 equity shares
Relationship with Other Directors, Not related to any Director / Key Managerial Personnel
Manager and other Key Managerial
Personnel of the Company

By Order of the Board of Directors

Sd/-
Pratyusha Podugu
Company Secretary & Compliance Officer
M. No: ACS-71069

Date: July 25, 2023

Place: Secunderabad
Registered Office:
A1, Vikrampuri,
Secunderabad - 500 009
Telangana, India
CIN: L30007TG1990PLC011510
Ph: 040 44558585/27849019/27844551
E-mail: [email protected]

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45
Annual Report 2022-23
Information of individual seeking appointment as an Non-Executive Independent Directors as per Companies Act, 2013 & the
SEBI (Listing Obligations and Requirements) Regulations, 2015 and Secretarial Standard-2
Item No. 7:

Name of the Director Mr. Gopala Krishna Dhanyamraju

Director Identification Number 08217921
Date of Birth November 28, 1963
Nationality Indian
Profile / Qualifications & Experience Is a veteran from Indian Air Force, is a 1st Class Graduate in
Bachelor of Commerce. He has an experience of over 32 years
in the Indian Air Force. He held prestigious positions as Senior
Accountant Officer in various operational units and served as
Joint Director Finance of Air Head Quarters Non-Public Funds.
He is highly regarded for skilled leadership, financial integrity
and exceptional teamwork. He is a vivid golfer.
Terms and Conditions of Appointment/Re-appointment As mentioned in the letter of appointment as an Independent
Director for first term of 5 years effective from 25th July, 2023.
Remuneration Proposed to be paid Will be entitled to only Sitting Fees for Board and Committee
Meetings of the Company as approved by the Members of the
Company.
List of Directorships held in other Companies Nil
Listed entities from which the Director has resigned in the Nil
past three years
Chairman/Member of the Committees of the Boards of other Nil
companies in which he is Director
Shareholding in the Company Nil
Relationship with Other Directors, Manager and other Key Not related to any Director / Key Managerial Personnel
Managerial Personnel of the Company.
Directorship includes Directorship of other Indian Companies Nil
and Committee memberships includes only Audit Committee
and Stakeholders’ Relationship Committee of Public Limited
Company (Whether Listed or not).

By Order of the Board of Directors

Sd/-
Pratyusha Podugu
Company Secretary & Compliance Officer
M. No: ACS-71069

Date: July 25, 2023

Place: Secunderabad
Registered Office:
A1, Vikrampuri,
Secunderabad - 500 009
Telangana, India
CIN: L30007TG1990PLC011510
Ph: 040 44558585/27849019/27844551
E-mail: [email protected]

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

BOARDS’ REPORT
Dear Members,
Your Directors have pleasure in presenting the Thirty-Third(33rd) Annual Report of your Company together with the Audited
Standalone & Consolidated Financial Statements for the Financial Year ended March 31, 2023.
FINANCIAL POSITION AND COMPANY’S STATE OF AFFAIRS
1. Financial performance
The attached Financial Statements for the year ended March 31, 2023 have been prepared in accordance with Indian
Accounting Standards (Ind AS) consequent to the Notification of the Companies (Indian Accounting Standards) Rules, 2015
issued by the Ministry of Corporate Affairs. The Standalone and Consolidated Financial Statements of the Company, forming
part of the Annual Report, have been prepared and presented in accordance with all the material aspects of the Indian
Accounting Standards (‘Ind AS’) as notified under section 133 of the Companies Act 2013 read with the Companies (Indian
Accounting Standards) Rules 2015 (by Ministry of Corporate Affairs (‘MCA’)) and relevant amendment rules issued thereafter
and guidelines issued by the Securities Exchange Board of India (“SEBI”).
2. Financial Results
(` in lakhs) except EPS
Standalone Consolidated
Particulars
FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22

Gross Revenues 8,731.39 8,091.48 9,183.62 8,395.70

Total Expenditure 7,502.75 6,016.48 7,498.71 5,969.81
Profit before Tax 1,228.64 2,075.00 1,684.91 2,425.89
Tax Expense 275.69 510.98 310.02 518.73
Profit after tax 952.95 1,564.02 1,374.89 1,907.16
Earnings per equity share
Basic EPS (Face Value ` 2/- each) 4.06 6.96 5.86 8.49
Diluted EPS (Face Value ` 2/- each) 4.06 6.96 5.86 8.49

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47
Annual Report 2022-23
 Performance Review 5. Dividend Distribution Policy
In terms of Regulation 43A of the Securities and Exchange
Standalone Financial Statements
Board of India (Listing Obligations and Disclosure
Your Company, during the year under review earned Requirements) Regulations, 2015 (“Listing Regulations”),
revenue from operations (Gross) of ` 8,731.39 lakhs, against the Company has formulated and adopted a Dividend
` 8,091.48 lakhs over the previous year. The profit before Distribution Policy with the objective of providing clarity
tax was of ` 1,228.64 lakhs as against ` 2,075.00 lakhs in to its stakeholders on the profit distribution strategies of
the previous year. The profit after tax for the current year is the Company. During the year, the said Policy has been
` 952.95 lakhs against ` 1,564.02 lakhs in the previous year. reviewed by the Board of Directors of the Company and
hosted on the website of the Company at https://in10stech.
Consolidated Financial Statements
com/investors/policies
The Consolidated Financial Statements of the Company and
6. Share capital
its subsidiaries for FY 2022-23, are prepared in compliance
During the year under review, your Company allotted
with the applicable provisions of the Act and as stipulated
10,00,000 equity shares on conversion of warrants into
under Regulation 33 of the Listing Regulations as well as in
equity shares & 10,500 equity shares are allotted on
accordance with the Indian Accounting Standards notified
exercise of stock options under various Employee Stock
under the Companies (Indian Accounting Standards) Rules,
Option Schemes. Consequently, the issued, subscribed
2015. The Audited Consolidated Financial Statements
and paid-up equity share capital has increased from `
together with the Auditor’s Report thereon forms part of
4,49,13,898 divided into 2,24,56,949 equity shares of `2/-
this Annual Report.
each to ` 4,69,34,898 divided into 2,34,67,449 equity
Your Company, during the year under review earned shares of `2/- each.
revenue from operations (Gross) of Rs 9183.62 lakhs,
During the financial year, the Company has not raised any
against Rs 8,395.70 lakhs over the previous year. The profit
funds in the form of equity. The Company has paid listing
before tax was Rs 1684.91 lakhs as against Rs 2,425.89
fee for the financial year 2022-23, to BSE Limited and
lakhs in the previous year. The profit after tax for the
National Stock Exchange of India Limited, where its shares
current year is Rs 1,374.89 lakhs against Rs 1,907.16 lakhs
are listed.
in the previous year.
7. Deposits
Pursuant to the provisions of Section 136 of the Act, the
Your Company has not accepted any deposits from the
Financial Statements of the Company, Consolidated
Directors/ Shareholders/Public and as such falling within
Financial Statements along with relevant documents
the ambit of Sections 73 and 74 of the Companies Act,
and separate annual accounts in respect of subsidiaries
2013, read with the Companies (Acceptance of Deposits)
are available on the website of the Company. The
Rules, 2014, during the year under review and hence there
annual accounts of the subsidiaries and related detailed
are no unpaid/unclaimed deposits nor amount of principal
information will be made available to investors seeking
or interest on public deposits was outstanding as on the
information till the date of the AGM.
Balance Sheet date.
Your Company has complied with all the Acts, Rules,
8. Buy Back of shares and disinvestment
Regulations and Guidelines issued/prescribed by the
The Company has not bought back any of its securities
Securities Exchange Board of India, Reserve Bank of
and there was no disinvestment during the Financial Year
India, Ministry of Corporate Affairs and other statutory
ended March 31, 2023.
authorities.
9. Particulars of loans, guarantees and investments
3. Transfer to reserves
Details of loans, guarantees and investments covered
Your Directors do not propose to transfer any amount to
under the provisions of Section 186 of the Act are given in
general reserves for the financial year ended March 31,
the notes to the Financial Statements.
2023.
10. Particulars of Contract or Arrangements made with
4. Dividend
Related Parties
Your Directors have pleasure in recommending a dividend
The particulars of contracts or arrangements with related
of 25% i.e. ` 0.50/- per equity share of face value of ` 2/-
parties as per Section 188 of the Companies Act, 2013
each for the financial year ended March 31, 2023 at their
and rules and SEBI Listing Regulations made thereof as
meeting held on June 05, 2023 amounting to ` 117.34 lakhs.
amended from time to time and as per the Related Party
The dividend payout is subject to approval of members at
Transaction (RPT) policy of the Company, during the
the ensuing Annual General Meeting.
financial year ended March 31, 2023, in prescribed Form
The Register of Members and Share Transfer Books will AOC-2 is annexed to this Board’s Report (Annexure-I).
remain closed from Saturday, September 23, 2023, to
Further there are no materially significant related party
Friday, September 29, 2023 (both days inclusive) for the
transactions during the year under review with Promoters,
purpose of payment of dividend for the financial year
Directors, Key Managerial Personnel’s, and their relatives,
ended March 31, 2023.
which may have potential conflict with interest of the
company at large. The related party transactions were
placed before the audit committee and also with the Board

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48
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

at their respective meetings for approval. All related party to time, the Management’s Discussion and Analysis is
transactions entered during the year were in the ordinary provided in a separate section and forms an integral part
course of business and at arm’s length basis. Details of the of this Report.
related party transactions during the year are part of the
15. Revision of Financial Statements
financial statements forming part of this Annual Report.
There was no revision of financial statements and Board
The Company has formulated a Policy on Related Party Report of the Company during the year under review.
Transactions and manner of dealing with related party
BUSINESS DESCRIPTION
transactions which is available on the Company’s website
at https://in10stech.com/investors/policies 16. Subsidiaries, Associates and Joint Ventures
The Company has 4 (four) Wholly Owned Subsidiary
11. Material changes and commitments affecting the
Company(ies) (WOS):
financial position of the company between the end of the
financial year and the date of the report a. “Intense Technologies FZE” in Hamriyah Free Zone,
There are no material changes and commitments affecting Hamriyah, United Arab Emirates (U.A.E).
the financial position of the company, which occurred after
b. “Intense Technologies INC” in Miami, Florida, United
the end of the financial year i.e., March 31, 2023.
States of America (USA).
12. Directors’ Responsibility Statement
c. “Intense Technologies UK Limited” in 200 Brook
Pursuant to the requirement under Section 134(5) of the
Drive, Green Park Reading RG2 6UB, United Kingdom
Companies Act, 2013, your Directors confirm as under:
(UK).
i. In the preparation of the annual accounts (Standalone
& Consolidated) for the financial year 2022-23, d. “Reasy Pte. Ltd.” at # 10, Anson Road # 24-09,
the applicable accounting standards read with International Plaza, Singapore – 079903.
requirements set out under Schedule III to the Singapore Branch: The Company has one Branch office
Companies Act, 2013 have been followed and there located at # 10, Anson Road # 24-09, International Plaza,
are no material departures from the same. Singapore – 079903.
ii. The Directors have selected such accounting policies
and applied them consistently and made judgments The performance and financial position of the subsidiary
and estimates that are reasonable and prudent so as companies included in the consolidated financial
to give a true and fair view of the state of affairs of statement is provided in accordance with the provisions of
your Company at the end of the financial year 2022- Section 129 read with Rule 5 of the Companies (Accounts)
23 and the Profit of the Company for the year under Rules, 2014 containing the salient features of the financial
review. statement of Company’s subsidiary companies in Form
AOC – 1 in “Annexure II” to this report.
iii. The Directors have taken proper and sufficient care
for the maintenance of adequate accounting records The Company’s Policy on determining material subsidiaries,
in accordance with the provisions of the Companies as approved by the Board, is uploaded on the Company’s
Act, 2013 for safeguarding the assets of the Company website at https://in10stech.com/investors/policies
and for preventing and detecting fraud and other There are no associates or joint venture companies within
irregularities. the meaning of Section 2(6) of the Companies Act, 2013
iv. The Directors have prepared the annual accounts on a (“Act”), and during the financial year under review, your
‘going concern’ basis. Company has not added/removed any joint ventures or
v. The Directors have laid down internal financial associate companies.
controls to be followed by the company and that such In accordance with Section 136 of the Companies
internal financial controls are adequate and operating Act, 2013, the audited financial statements, including
effectively. the Consolidated Financial Statements and related
vi. The Directors have devised proper systems to ensure information of the Company and audited accounts of its
compliance with the provisions of all applicable laws wholly-owned Subsidiary is available on the website of
and that such systems were adequate and operating your Company www.in10stech.com. These documents will
effectively. also be available for inspection during the business hours
13. Variation in market capitalization of the Company at its registered office in A1, Vikrampuri,
Secunderabad-500009, India.
As at March 31
PARTICULARS 17. Awards and Recognitions
2023 2022 Your Company continued its quest for excellence in its area
Market Capitalisaion (Rs. in Crores) 127.91 187.18 of business to strengthen its position in global markets. In
doing so, several awards and rankings continue to endorse
Note: Data based on share prices quoted on BSE
your Company as a thought leader in the industry. Few
14. Management Discussion and Analysis of the Awards / recognitions received by the Company
In compliance with Regulation 34(3) read with Schedule during the FY 2022-23 include:
V(B) of the SEBI (Listing Obligations & Disclosure
Requirements) Regulations, 2015 as amended from time

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Annual Report 2022-23
 Recognitions: Name of the Director DIN Category
• Intense Technologies achieves Leader Position in
2023 SPARK Matrix for Customer Communications Mr Pavan Kumar Independent
02530632
Management by Quadrant Knowledge Solutions. Pulavarty Non-Executive
• Intense Technologies positioned amongst AnyPrem Mr Srivath Shanker Independent
02593315
Customer Communications Management (CCM) Rao Kandukuri Non-Executive
Software Leaders for Telecom, Insurance, Public Sector Independent
and Utilities verticals in the 2022Aspire CCM-CXM Mr Shyamsunder
02665539 Non-Executive
Leaderboard™. Mallick Vadlamani
Director
• Additionally, Intense Technologies has been recognized Independent
as a Leader in two other segments Vendor Hosted Mrs Sarada Devi
02268210 Non-Executive
SAAS CCM and Communications Experience Platform Vemuri
Woman
(CXP) for the Utilities and Telecom verticals in the
same report. The Independent Directors of the Company hold office
for a term of five years or until completion of 75 years,
• Intense Technologies positioned in the 2022 SPARK
whichever is earlier. They are not liable to retire by rotation
Matrix for Customer Communication Management by
in terms of Section 149(13) of the Act. The Board is of the
Quadrant Knowledge Solutions.
opinion that the Independent Directors of the Company
• UniServe™ NXT Digital Suite rated the best, ranked possess requisite qualifications, experience and expertise
Number One in Gartner Peer Insights 2022 by in the fields of science and technology, digitalization,
customers securing a 4.7 Rating out of 5. human resources, strategy, auditing, tax and risk advisory
18. Research & Development services, financial services, corporate governance, etc. and
The Company lays great emphasis on R&D, which forms that they hold highest standards of integrity.
the core of the business development strategy. All the Declaration by Independent Directors
process technologies implemented by the company Your Company has received necessary declaration from
have been developed in-house in the DSIR recognized each independent director stating that they met the
R&D center. The R&D department has developed and criteria prescribed for independence under Section 149 of
mastered a library of reactions over a period of time which the Companies Act, 2013 and Regulation 25 of SEBI (Listing
forms the crux for future developments. The swiftness in Obligations & Disclosure Requirements) Regulations, 2015
development and implementation of new technologies has and the Board has confirmed its veracity and taken the
brought and will continue to bring good business for the same on record.
company.
Familiarisation Programme
19. Directors and Key Managerial Personnel These programmes aim to provide insights into the
Directors Company to enable the Independent Directors to
understand its business in depth and contribute
Appointment/Re-appointment significantly to the Company. The Board members are also
In order to comply with the provisions of section 152 of the regularly updated on changes in the statutory provisions
Companies Act, 2013 and rules applicable thereunder, Mr. like changes in Corporate Laws, SEBI Regulations, Taxation
Tikam Sujan (DIN: 02137651) Non-Executive Director of the Laws and People related laws as applicable at the quarterly
Company is liable to retire by rotation and offers himself Board meetings. The Board members are also updated on
for re-appointment. the Risk universe applicable to the Company’s business.
Cessation and Resignations: The MD & CEO of the Company conducts quarterly
During the year under review, none of the Directors retired sessions with Board members sharing updates about
or resigned from the Board. the Company’s business strategy, operations and the key
Declaration from Directors trends in the IT industry that are relevant for the Company.
Your Company has received necessary declaration from all These updates help the board members to keep abreast of
directors stating that they are not debarred or disqualified the key changes and their impact on the Company.
from being appointed or continuing as Directors of The newly appointed Directors are given induction and
companies as per the Securities and Exchange Board of orientation with respect to the Company’s Vision, Core
India, Reserve Bank of India, Ministry of Corporate Affairs purpose, Core Values and Business operations. In addition,
or any such other Statutory Authority. detailed presentations are made on business environment,
Independent Directors: performance of the Company at every Board Meeting.
During the year under review, the following are the The above initiatives help the Directors to understand the
Independent Directors of the Company, in terms of Section Company, its business and the regulatory framework in
149 of the Act: which the Company operates and enables the Directors to
fulfill their role/responsibility.

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Key Managerial Personnel (‘KMP’):

During the year under review, the Company has the following persons as Key Managerial Personnel.

Name of the Director DIN/ Membership No Category/ Designation

Mr. C.K. Shastri 00329398 Chairman & Managing Director

Mr. Jayant Dwarkanath 00329597 Whole time Director
Ms. C. Anisha Shastri 08154544 Whole time Director
Mr. Madhukar Nayak Halasinakatte* - Chief Financial Officer
Mr. Nitin Sarda* - Chief Financial Officer
Ms. Saheli Banerjee ACS-44382 Company Secretary and Compliance
(up to 22.02.2023) officer
Ms. Pratyusha Podugu ACS-71069 Company Secretary and Compliance
(Wef. 18/04/2023) officer
During the year under review, Ms. Saheli Banerjee (ACS: 44382), Company Secretary and Compliance officer resigned w.e.f.
February 22, 2023. The Company values her contribution during her tenure as the Company Secretary of the company.
*Mr. Madhukar Nayak has resigned from the office of Chief Financial Officer w.e.f May 30, 2023. (He was relieved from his
office from closing hours of May 31, 2023)
*Mr. Nitin Sarda was appointed as Chief Financial Officer w.e.f June 01, 2023

20. Committees of the Board

Currently, the Board has five committees i.e., Audit Committee, Nomination and Remuneration Committee, Corporate Social
Responsibility Committee, Stakeholders Relationship Committee and Risk Management Committee.
A detailed note on the Board and its committees is provided under the Corporate Governance Report section in this Annual
Report. The composition of the committees and compliances, as per the applicable provisions of the Act and Rules, are as
follows:

Name of the Composition of the

Highlights of duties, responsibilities and activities
Committee Committee
Audit committee Mr K.S. Shanker Rao (C) y All recommendations made by the audit committee during the year
Mrs V. Sarada Devi (M) were accepted by the Board.
Mr V.S. Mallick (M) y Reviewing with the management, the quarterly financial statements be-
fore submission to the Board for approval.
y Approval or any subsequent modification of transactions of the Compa-
ny with related parties.
y Reviewing with the management, the performance of statutory auditors
and internal auditors, adequacy of internal control systems, etc.
Nomination and Mr K.S. Shanker Rao (C) • The committee oversees and administers executive compensation, oper-
Remuneration Mrs V. Sarada Devi (M) ating under a written charter adopted by our Board of Directors.
Committee Mr V.S. Mallick (M) • The nomination and remuneration committee has framed the nomina-
tion and remuneration policy.
Corporate Social Mr K.S. Shanker Rao (C) • To formulate and recommend to the Board, a Corporate Social Respon-
Responsibility Mrs V. Sarada Devi (M) sibility (CSR) Policy indicating activities to be Undertaken by the Com-
Committee Mr V.S. Mallick (M) pany in compliance with provisions of the Companies Act, 2013 and
rules made there under.
• To monitor the implementation of the CSR Policy of the Company from
time to time
Stakeholders Mr V.S. Mallick (C) • The committee reviews and ensures redressal of investor grievances.
Relationship Mrs V. Sarada Devi (M) • The committee noted that all the grievances of the investors have been
Committee Mr K.S. Shanker Rao (M) resolved during the year.

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Annual Report 2022-23
 Name of the Composition of the
Highlights of duties, responsibilities and activities
Committee Committee
Risk Management Mr V.S. Mallick (C) • The purpose of the committee is to assist the Board in fulfilling its cor-
Committee Mrs V. Sarada Devi (M) porate governance with regard to the identification, evaluation & miti-
Mr K.S. Shanker Rao (M) gation of operational, strategic and environmental risks efficiently and
effectively.
• The Company has developed and implemented a risk management
framework that includes identification of elements of risk, if any, which
in the opinion of the Board may threaten the existence of the Company.
C- Chairperson M-Member

21. Policies
The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 mandated the formulation of certain policies
for all listed companies. All the corporate policies are available in the Company website (https://in10stech.com/investors/
policies). The policies are reviewed periodically by the Board and updated based on need and new compliance requirement.
In addition to its Code of Conduct and Ethics, key policies that have been adopted by the Company are as follows:

Web
Name of the policy Brief description
link
Whistle-blower Policy The Company has adopted the whistleblower mechanism for directors and
employees to report concerns about unethical behaviour, actual or suspected
(Policy on vigil mechanism) fraud, or violation of the Company’s code of conduct and ethics. It also
provides for adequate safeguards against victimization of employees who
availed the mechanism and also provides for direct access to the Chairperson
of the Audit Committee.
Insider Trading Policy and Code The Company has adopted a Code of Conduct to Regulate, Monitor & Report
of Practices and Procedures for Trading by Insiders and Code of Practices and Procedures for Fair Disclosure

https://in10stech.com/investors/policies
Fair Disclosure of Unpublished of Unpublished Price Sensitive Information as per the SEBI (Prohibition of
Price Sensitive Information Insider Trading) Regulation 2015, with a view to regulate trading in securities
by the Directors and Designated Persons while in possession of unpublished
price sensitive information in relation to the Company and during the period
when the Trading Window is closed and other certain situations. All Board
of Directors and the designated employees have confirmed compliance with
the Code.
Nomination and This policy formulates the criteria for determining qualifications,
Remuneration Policy competencies, positive attributes and independence for the appointment of
a director (executive / non-executive) and also the criteria for determining
the remuneration of the directors, key managerial personnel and senior
management of the Company.
Corporate Social The policy outlines the Company’s strategy to bring about a positive impact on
Responsibility Policy Society through programs relating to hunger, poverty, education, healthcare,
environment etc., as per the provisions of the Companies Act, 2013.
Related Party Transaction Policy The policy regulates all transactions between the Company and its related
parties
Policy on Preservation of The policy is for the preservation of corporate records of the Company.
Documents

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Web
Name of the policy Brief description
link
Policy on Determination of The policy is to determine materiality of events or information relating to the
Materiality of Events Company and to ensure timely and accurate disclosure on all material matters
concerning the Company.
Policy for The policy is used to determine the material subsidiaries and material non-
Determining Material listed Indian subsidiaries of the Company and to provide the governance
Subsidiaries framework for them.

https://in10stech.com/investors/policies
Archival Policy The policy deals with the retention and archival of corporate records of the
Company.
Dividend Distribution Policy This policy is to ensure the right balance between the quantum of Dividend
paid and amount of profits retained in the business for various purposes.
Policy on Prohibition of Sexual This policy is adopted to protect women against sexual harassment at
Harassment workplace and to ensure safe working environment for women
Risk Management Policy This policy is a formal representation of the Company’s commitment to Risk
Management. The Policy is supported by the Risk Management & Assessment
Framework which provides guidance with regard to the processes that
underpin effective and consistent risk management.
Board Diversity Policy This policy on Board Diversity (the “Policy”) sets out the Company’s approach
to ensuring adequate diversity in its Board of Directors (the “Board”)
Business Responsibility Policy This policy endorses the Company’s commitment to follow principles and
core elements, in conducting its business, as laid down in the National
Voluntary Guidelines on Social, Environmental and Economic responsibilities
of Business.
22. Health, Safety and Environment protection
The Company is committed to excellence in safety, health, environment and quality management. It accords highest priority
to the health and safety of its employees, customers and other stakeholders as well as to the protection of the environment.
The management of your Company is focused on continuous improvement in these areas which are fundamental to the
sustainable growth of the Company.
23. State of Company’s Affairs:
Intense offers a comprehensive range of capabilities that enable our customers to gain a competitive edge. Our strategy
revolves around uniting domains, products, services, and partners to craft tailored solutions that yield optimal business
outcomes.
To achieve this, we take the initiative to envision, orchestrate, and seamlessly implement value. Our approach involves
harnessing domain expertise, cutting-edge technologies, strategic partnerships, and hyperscalers to solve intricate challenges
for our clients.
Central to our ethos is cultivating enduring client relationships rooted in shared visions and outcomes. We forge these
connections through a well-governed, co-managed engagement process. In the realm of IT Services, we offer a spectrum of
solutions, encompassing digital strategy advisory, custom application design, development, re-engineering, cloud service,
talent services, system integration, data analytics, business processes, research and development.
In our IT Products division, our award-winning CCM solution is evolving with marketing automation, and campaign
management. Rather than standalone products, these offerings synergize with our IT services portfolio to enhance client
solutions.
As we chart our path forward, we remain focused on services and digital engagements. We approach System Integration (SI)
engagements selectively, directing our resources toward opportunities where we can create the most impactful outcomes.
24. Future outlook:
In anticipation of future developments, we acknowledge that our actual results might differ significantly from our projections
due to certain factors. The following sections outline our outlook, risks, and concerns:
I. Market-Related Risks
Market Volatility: Fluctuations in technology spending by clients are influenced by economic, geopolitical, monetary, and
regulatory factors within their respective markets.

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Annual Report 2022-23
 Economic Health: Economic slowdowns or adverse VI. Operational Risks
events within industries concentrated in the United Hybrid Working Transition: Moving to a hybrid model
States, United Kingdom, EU, Australia, or other focal presents potential operational risks.
markets could impact our revenue.
Data Security and Privacy: Inadvertent disclosure of
Climate Impact: Clients operating in sectors vulnerable confidential information or cybersecurity incidents
to climate change may impact our business and could harm our reputation and incur liabilities.
reputation.
Legal and Regulatory Compliance: Changing
Visa and Regulatory Factors: Visa restrictions, cost regulations and compliance requirements increase
increases, delays due to the pandemic, and increased uncertainty and costs.
enforcement might limit our ability to provide services
VII. Legislation and Regulatory Risks
across various countries.
IP Protection and Taxation: Intellectual property
Sanctions and Restrictions: Clients’ exposure to protection and tax policies can affect our operations
sanctions may limit growth, increase penalties, and and profitability.
subject our business to consequential sanctions.
25. Industrial relations
Client Dependency: A significant portion of our During the year under review, industrial relations remained
revenue depends on a limited number of major clients, cordial and stable. The directors wish to place on record
and losing any of them could substantially affect our their sincere appreciation of the co-operation received
business. from employees at all levels.
II. Investment-Related Risks HUMAN RESOURCES
Technology Agility: Failing to innovate and adapt Your Company has taken several initiatives in the
to rapid technological and industry changes could development of human resources, the most important
adversely affect our business. asset of the Company. Your Company takes pride in the
commitment, competence and dedication shown by its
Software Development Costs: Investment costs in
employees in all areas of business and ensures that it
software products may not be recouped effectively.
provides a harmonious and cordial working environment
Acquisitions and Ventures: Engaging in strategic to all its employees. To ensure good human resources
partnerships, alliances, or ventures may have varying management, your Company focused on all aspects of
degrees of success. the employee lifecycle. This provides a holistic experience
for the employee as well. During their tenure at the
III. Cost Structure Risks
Company, employees are motivated through various skill-
Expense Variability: Unpredictable expenses can
development program, engagement, and volunteering
cause fluctuations in profitability.
programs. Your company has put in continued efforts in
Growth Management: Challenges in managing growth building capabilities of Human Resources with adoption of
might disrupt business operations and profitability. specific and targeted interventions.
Wage Pressures: Wage increases and hiring practices Your Company has a structured induction process at all
may affect competitive advantage and profits. locations and management development programs to
upgrade skills of managers. Objective appraisal systems
Infrastructure Investment: Significant investments in based on Key Result Areas are in place for all employees.
infrastructure could reduce profitability if business Your Company is committed to nurturing, enhancing, and
growth doesn’t align proportionally. retaining talent through superior Learning & Organizational
IV. Workforce-Related Risks Development. This is a part of Corporate HR function and
Talent Dependency: Our success relies on skilled is a critical pillar to support the organization’s growth and
professionals, and attracting, retaining, and training its sustainability in the long run. Some of the initiatives
them is crucial. taken in this area are –

Management and Key Personnel: Leadership roles’ Communication:

stability and retention significantly impact our Frequent, Transparent and Empathetic With associates
success. working from home, your Company faced natural
challenges in ensuring that a distributed workforce stayed
V. Contractual Obligations Risks connected. Your Company communicated with urgency,
Contract Fulfillment: Failing to complete contracts transparency and empathy to help associates adjust to
within budget or timeframes could affect profitability. the constantly changing conditions crises bring and to
Contract Termination: Clients’ ability to terminate maintain a single source of truth. Your Company created
contracts without cause may impact revenue and a live microsite to prioritize consistent and continuous
profitability. communication. Your Company launched newsletters
that included messages from leaders, inspirational
Conditional Contracts: Client contracts often hinge on stories, training calendars, associate engagements etc.
satisfactory performance, which could result in lower Additionally, a new connect series was introduced to keep
revenues. associates updated and inspired by external speakers. This

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54
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

was a way to virtually connect, featuring global leaders 5(1) of the Companies (Appointment and Remuneration
from a cross section of industries. of Managerial Personnel) Rules, 2014 are annexed as
Annexure-IV to this report.
Engagement:
Your Company used connected technologies to create A statement containing the names of every employee
meaningful experiences for associates working remotely employed throughout the financial year and in receipt
and organized several collaborative activities. of remuneration of `1.02 crore or more per annum or
employed for part of the year and in receipt of `8.50 lakh
Hiring:
or more in a month under Rule 5(2) of the Companies
Your Company has taken proactive steps to introduce
(Appointment and Remuneration of Managerial Personnel)
young talent that will thrive in the ‘new normal.’ Your
Rules, 2014 as amended from time to time are provided in
Company gives fresh graduates the flexibility of remote
this report
work from home. Your Company has also expanded the
use of the new-age platform in the hiring process. 29. Prevention of Sexual Harassment (‘POSH’)
The Company has always believed in providing a safe
Learning:
and harassment free workplace for every woman working
During the year virtual learning gained momentum as your
in Company’s premises, through various interventions
Company prioritized re-skilling and up-skilling through
and practices. The Company has adopted policy and
various initiatives.
constituted the Internal Complaint Committee under
Diversity: Prevention of Sexual Harassment of Women at Workplace
Creating a sense of Belonging Your Company reinforced its in accordance with the Sexual Harassment of Women at
commitment to being intentionally diverse. The associates Workplace (Prevention, Prohibition and Redressal) Act,
of your Company have helped driving future business in 2013 as amended from time to time.
the ‘new normal.’ Focused efforts were made towards
The Company has not received any complaints during the
generational diversity as young leaders were developed
year.
through various programs.
The Company regularly conducts awareness programmes
26. Leadership:
for its employees.
The Company adopted new changes and changed the
leadership paradigm and style of functioning. It warranted The following are the summary of sexual harassment
being focused and yet open to revisiting strategies, taking complaints received and disposed of during the year:
bold risks, judiciously deploying resources and above all,
working tirelessly till the desired results are achieved! The Status of the No. of
Sl No

leaders helped rally their teams, kept the team engaged Particulars complaints received
and communicated clear, crisp messages frequently while and disposed off
challenging conventional thinking. Your Company has 1 Number of complaints on Nil
launched to drive towards high-performance culture which sexual harassment received
ensures that key business initiatives and leaders’ goals are
2 Number of complaints dis- Nil
in-sync and tracked regularly.
posed off during the year
27. Employee Stock Option Plan 3 Number of cases pending for Nil
During the year, 10,500 equity shares were issued and more than ninety days
allotted under the Employee Stock Option Scheme. The
ESOP Scheme(s) of the Company is in compliance with 4 Number of workshops or The Company regu-
SEBI (Share Based Employee Benefits and Sweat Equity) awareness programmes larly conducts nec-
against sexual harassment essary awareness
Regulations, 2021.
carried out programmes for its
A certificate from Auditors of the Company certifying that employees
the Employee Stock Option Scheme of the Company is
5 Nature of action taken by the Nil
implemented in accordance with the SEBI (Share Based
employer or district officer
Employee Benefits and Sweat Equity) Regulations, 2021
and in accordance with the resolutions passed in the 30. Vigil Mechanism
General Body Meetings will be available for inspection The Board of Directors of the Company had adopted the
in electronic mode during the AGM to any person having Whistle Blower Policy in compliance with the provisions
right to attend the meeting. of Section 177 of the Companies Act, 2013 and Regulation
22 of the SEBI (Listing Obligations and Disclosure
The Disclosures pursuant to Regulation 14 of the SEBI
Requirements) Regulations, 2015. A mechanism has
(Share Based Employee Benefits and Sweat Equity)
been established for employees to report concerns about
Regulations, 2021 read with SEBI Circular dated June 16,
unethical behaviour, actual or suspected fraud, or violation
2015 on ESOP disclosures forms a part of this Annual
of the Code of Conduct and Ethics. It also provides adequate
Report. (Annexure-III)
safeguards against the victimization of employees who
28. Particulars of Employees avail of the mechanism and allows direct access to the
Disclosures pertaining to remuneration and other details Chairperson of the Audit Committee in exceptional cases.
as required under Section 197(12) of the Act, read with Rule The Audit Committee reviews periodically the functioning

Intense Technologies Limited

55
Annual Report 2022-23
 of whistle blower mechanism. No complaints have been Diversity Policy which sets out the approach to diversity
received during the Financial Year ended March 31, 2023. of the Board of Directors. The Policy is available on the
No personnel have been denied access to the Audit Company website at https://in10stech.com/investors/
Committee during the Financial Year 2022-23. policies.
The details of said vigil mechanism are given in the 36. Board Composition
Corporate Governance Report, which forms part of this It is desired to have an appropriate mix of Executive and
Annual Report. A copy of the Whistle Blower Policy is Non-executive & Independent and Women Directors to
available in the company’s website i.e., https://in10stech. maintain the independence of the Board and separate its
com/investors/policies functions of governance and management.
CORPORATE GIVERNANCE As on March 31, 2023, the Board consists of 8 members,
3 of them are Executive/Whole-time directors, 1 is Non-
31. Corporate Governance
Executive Non-Independent Director, 1 is Non-Executive
Corporate governance is an ethically driven business
Independent Woman Director and 3 are Non-Executive
process that is committed to values aimed at enhancing
Independent Directors.
an organization’s brand and reputation. This is ensured
by taking ethical business decisions and conducting The Board periodically evaluates the need for a change
business with a firm commitment to values, while meeting in its composition and size. The policy of your Company
stakeholders’ expectations. It is imperative that your on directors’ appointment and remuneration, including
company’s affairs are managed in a fair and transparent criteria for determining qualifications, positive attributes,
manner. This is vital to gain and retain the trust of the independence of a director and other matters as provided
stakeholders. under Section 178(3) of the Companies Act, 2013, and
SEBI (Listing Obligations & Disclosure Requirements)
The Report on corporate governance for the year ended 31st
Regulations, 2015 was adopted by the Board. It is affirmed
March 2023, pursuant to Regulation 34 of the SEBI (Listing
that the remuneration paid to the Director(s) are as per the
Obligations and Disclosure Requirements) Regulations,
terms laid out in the nomination and remuneration policy
2015 forms part of the Annual Report.
of the Company.
32. Auditors’ certificate on Corporate Governance
37. Nomination and Remuneration Policy
As required by SEBI (Listing Obligations & Disclosure
The Board has on the recommendation of the Nomination
Requirements) Regulations, 2015, the auditor’s certificate
and Remuneration Committee, framed a policy for selection
on corporate governance regarding the compliance of
and appointment of Directors, Senior Management
conditions forms part of the Annual Report.
Personnel and their remuneration. The Nomination and
33. Governance and Compliance Remuneration Policy adopted by the Board is available
The Secretarial and Legal functions of the Company ensure on the Company’s website at https://in10stech.com/
maintenance of good governance within the organization. investors/policies.
They assist the business in functioning smoothly by
38. Board Evaluation
being compliant at all times and providing strategic
Pursuant to the provisions of the Companies Act, 2013 and
business partnerships in the areas including legislative
Regulation 19 read with Schedule II, Part D of the Securities
expertise, corporate restructuring, regulatory changes and
and Exchange Board of India (Listing Obligations and
governance.
Disclosure Requirements) Regulations, 2015, the Board
34. Governance Guidelines has devised a policy on evaluating the performance of
The Company has adopted the Governance Guidelines the Board of Directors, the Chairman, Committees, and
on Board Effectiveness to fulfill its corporate governance Individual Directors. The evaluation process was carried out
responsibility towards its stakeholders. The Governance during the year and the summary of the evaluation reports
Guidelines cover aspects relating to composition and role was presented to the Board. The Directors had positive
of the Board, Chairman and Directors, Board diversity, feedback on the overall functioning of the Committees and
definition of independence, Director’s term, retirement the Board. The suggestions made by the Directors in the
age and Committees of the Board. It also covers aspects evaluation process have been suitably incorporated in the
relating to nomination, appointment, induction and processes.
development of Directors, Director’s remuneration,
39. Procedure for Nomination and Appointment of Directors
subsidiary oversight, code of conduct, review of Board
The NRC is responsible for developing competency
effectiveness and mandates of Committees of the Board.
requirements for the Board based on the industry and
35. Board Diversity strategy of the Company. The Board composition analysis
Your Company recognizes and embraces the importance reflects in-depth understanding of the Company, including
of a diverse board for its success. Your Company believes its strategies, environment, operations, financial condition
that a truly diverse board will leverage differences in and compliance requirements.
thought, perspective, knowledge, skill and industry
NRC conducts a gap analysis to refresh the Board
experience, cultural and geographical background,
on a periodic basis, including each time a Director’s
age and gender, which will help the Company, retain its
appointment or reappointment is required. The
competitive advantage. The Board has adopted the Board
Committee is also responsible for reviewing the profiles of

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

potential candidates vis-à-vis the required competencies by Mr Navajyoth Puttaparthi (FCS 9896) (CP No: 16041),
and meeting potential candidates, prior to making Partner of M/s Puttaparthi Jagannatham & Co., Practicing
recommendations for their nomination to the Board. Company Secretaries, Hyderabad in Form MR-3, is annexed
At the time of appointment, specific requirements for as Annexure-V and forms integral part of this Report.
the position, including expert knowledge expected, are
The Secretarial Audit Report is self-explanatory and does
communicated to the appointee.
not call for any further comments. The Secretarial Audit
During FY 2022-23, the Board had also identified the list Report does not contain any qualification, reservation,
of core skills, expertise and competencies of the Board of adverse remark or disclaimer. During the year under
Directors as are required in the context of the businesses review, the Secretarial Auditors had not reported any
and sectors applicable to the Company and those actually matter under Section 143 (12) of the Act, therefore no
available with the Board. The Company has also mapped detail is required to be disclosed under Section 134 (3)(ca)
each of the skills, expertise and competencies against the of the Act.
names of the Board Members possessing the same.
In terms of the amended SEBI (Listing Obligation and
40. Meetings of the Board Disclosure Requirements) Regulation, 2015, the Company
The Board met six times during the financial year 2022- had obtained the Secretarial Compliance certificate from
23. The meeting details are provided in the Corporate Mr. Navajyoth Puttaparthi (FCS 9896) (CP No: 16041),
Governance report that forms part of this Annual Report. Partner of M/s Puttaparthi Jagannatham & Co., Practicing
The maximum interval between any two meetings did not Company Secretaries, Hyderabad which is annexed as
exceed 120 days as prescribed in the Companies Act, 2013 Annexure-V(A) and forms part of the Annual Report and
and SEBI Listing Regulations. the same was also intimated to the Stock Exchange where
the shares of the Company are listed.
41. Auditors and Auditors’ Report
Pursuant to Regulation 34(3) and Schedule V Para C clause
Statutory Auditors
(10)(i) of the SEBI (Listing Obligations and Disclosure
As per Section 139 of the Companies Act, 2013 (‘the Act’),
Requirements) Regulations, 2015 Company has obtained
read with the Companies (Audit and Auditors) Rules,
a certificate from Mr. Navajyoth Puttaparthi (FCS 9896)
2014, M/s. MSPR & Co., Chartered Accountants (Firm
(CP No: 16041), Partner of M/s Puttaparthi Jagannatham &
Registration No. 010152S), Hyderabad, were appointed as
Co., Practicing Company Secretaries, Hyderabad which is
the statutory auditors at the 31st Annual General Meeting
annexed as Annexure-V (B) and forms part of the Annual
held on 30th September, 2021 for a term of five (5) years
Report and the same was also intimated to the Stock
from the conclusion of the 31st annual general meeting till
Exchanges where the shares of the Company are listed.
the conclusion of 36th Annual General Meeting.
In terms of Section 204 of the Companies Act, 2013 read
Pursuant to amendments in Section 139 of the Companies
with the Companies (Appointment and Remuneration of
Act, 2013, the requirements to place the matter relating
Managerial Personnel) Rules, 2014, the Board of Directors
to such appointment for ratification by members at every
appointed M/s Puttaparthi Jagannatham & Co., Practicing
annual general meeting has been omitted with effect from
Company Secretaries as the Secretarial Auditors of the
7th May 2018. The Board of Directors is empowered to
Company for the financial year 2023-24.
fix the remuneration of the Statutory Auditor on a yearly
basis. The Company has received their written consent that
the appointment is in accordance with the applicable
The Audit reports dated May 30, 2023, issued by M/s.
provisions of the Act and rules framed thereunder. The
MSPR & Co., Chartered Accountants (Firm Registration
Secretarial Auditors have confirmed that they are not
No. 010152S), Statutory Auditors on the Company’s
disqualified to be appointed as the Secretarial Auditors of
Standalone and Consolidated Financial Statements for the
the Company for the financial year 2023-24.
financial year ended 2022-23 is part of the Annual Report.
There has been no qualification, reservation or adverse Secretarial Standards
remark in their Report. Your Company is in compliance with all applicable
Secretarial Standards issued by the Institute of Company
Audit Committee
Secretaries of India, New Delhi for the financial year ended
During the year under review, the Audit Committee was
March 31, 2023.
comprised of three (3) Members out of which all three (3)
are Non-Executive Independent Directors. During the year, Internal Auditors
four (4) Audit Committee meetings were held, details of The Company has external firms of Chartered Accountants
which are provided in the Corporate Governance Report. acting as internal auditors that reviews internal controls
and operating systems and procedures as per the scope
During the year under review, all the recommendations
of audit. The Internal Audit Reports of the company are
made by the Audit Committee were accepted by the
reviewed by the Audit Committee on quarterly basis.
Board of Directors.
The Board of Directors, on recommendation of the Audit
Secretarial Auditors
Committee appoints/re-appoints the Internal Auditors
The Secretarial Audit for the financial year ended March
of your Company every year in compliance with Section
31, 2023, was carried out by M/s. Puttaparthi Jagannatham
138 of the Act read with the Companies (Accounts) Rules,
& Co., Practicing Company Secretaries. The Report given
2014.
Intense Technologies Limited
57
Annual Report 2022-23
 Cost Audit the internal auditors and statutory auditors to ascertain
As per the Cost Audit Orders, Cost Audit is not applicable their views on the internal financial control systems. The
to the Company for the financial year 2022-2023. Audit Committee satisfied itself as to the adequacy and
effectiveness of the internal financial control system as laid
Declaration as per Section 134(3) (ca) of the Companies
down and kept the Board of Directors informed.
Act, 2013
During the year, the statutory auditors and secretarial However, the Company recognizes that no matter how the
auditor have not reported any instances of frauds internal control framework is, it has inherent limitations
committed by or against the Company by its Directors/ and accordingly, periodic audits and reviews are put in
Officers/ Employees to the Audit Committee or Board place to ensure that such systems are updated on regular
under section 143(12) of the Companies Act, 2013 and intervals.
rules made thereof. Therefore, no detail is required to be
Details of the internal control system are given in the
disclosed under Section 134 (3) (ca) of the Act.
Management Discussion and Analysis Report, which forms
42. CEO & CFO Certification part of this Annual Report.
The Whole-Time Director and the Chief Financial Officer of
45. Significant Material Orders Passed by the Regulators
the Company have given annual certification on financial
There were no significant material orders passed by any
reporting and internal controls to the Board in terms
Regulators/Courts that would impact the going concern
of Regulation 17(8) of the SEBI (Listing Obligation &
status of the Company and its future operations.
Disclosure Requirements) Regulation, 2015.
Your Company has complied with all the Acts, Rules,
Whole-Time Director and the Chief Financial Officer
Regulations and Guidelines issued/prescribed by the
also give quarterly certification on financial results while
Securities Exchange Board of India, Reserve Bank of
placing the financial results before the Board in terms
India, Ministry of Corporate Affairs and other statutory
of Regulation 33(2)(a) of the SEBI (Listing Obligation &
authorities.
Disclosure Requirements) Regulation, 2015.
46. Extract of the Annual Return
The annual certificate given by the Whole-Time Director
An Extract of Annual Return as per the provisions of
and the Chief Financial Officer forms part of the Annual
Section 92 (3) and Section 134(3) of the Companies
Report.
Act, 2013 and Rule 12 of Companies (Management and
43. Internal Controls Administration) Rules, 2014 as amended from time to
The Company has put in place an adequate system of time, is made available on the website of the Company at
internal controls commensurate with its size and the https://in10stech.com/investors/annual-reports.
nature of its operations. The Company’s internal control
47. Transfer of Un-Claimed Dividends/Shares
system covers the following aspects:
Pursuant to the provisions of Section 124 of the Act, Investor
• Financial propriety of business transactions. Education and Protection Fund Authority (Accounting,
• Safeguarding the assets of the Company. Audit, Transfer and Refund) Rules, 2016 (“IEPF Rules”)
• Compliance with prevalent statutes, regulations, read with the relevant circulars and amendments thereto,
management authorization, policies and procedures. the amount of dividend remaining unpaid or unclaimed for
The Audit Committee of the Board periodically reviews a period of seven years from the due date is required to be
audit plans, observations and recommendations of the transferred to the Investor Education and Protection Fund
internal and external auditors, with reference to the (“IEPF”), constituted by the Central Government.
significant risk areas and adequacy of internal controls and Your Company does not have any Un-Claimed Dividends/
keeps the Board of Directors informed of its observations, Shares for a period of seven years. Therefore, there were
if any, from time to time. no funds which were required to be transferred to Investor
44. Internal Financial Controls Education and Protection Fund (IEPF).
Internal financial control systems of the Company are Ms. Pratyusha Podugu is the Nodal Officer who is
commensurate with its size and the nature of its operations. appointed by the Company under the provisions of IEPF.
These have been designed to provide reasonable assurance (w.e.f 18-04-2023)
with regard to recording and providing reliable financial
and operational information, complying with applicable 48. Risk Management
accounting standards and relevant statutes, safeguarding Your Company have constituted a Risk Management
assets from unauthorized use, executing transactions with Committee pursuant to Section 134 (3) (n) of the Companies
proper authorisation and ensuring compliance of corporate Act, 2013 & Regulation 21 of SEBI (Listing Obligations &
policies. The Company has a well-defined delegation of Disclosure Requirements) Regulations 2015, which has
authority with specified limits for approval of expenditure, been entrusted with the responsibility to assist the Board
both capital and revenue. The Company uses an efficient in (a) Overseeing and approving the Company’s enterprise
accounting system to record day-to-day transactions for risk management framework; and (b) Overseeing that
accounting and financial reporting. all the risks that the organization faces such as strategic,
financial, credit, market, liquidity, security, property,
The Audit Committee deliberated with the members of the Information Technology, legal, regulatory, reputational and
management, considered the systems as laid down and met other risks have been identified and assessed and there

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

is an adequate risk management infrastructure in place system, the members are requested to avail the facility
capable of addressing those risks. of Dematerialization of the Company’s shares on NSDL &
CDSL. The ISIN allotted to the Company’s Equity shares is
The Committee has formulated a Risk Management Policy
INE781A01025.
for dealing with different kinds of risks which it faces in day-
to-day operations of the Company. The Risk Management 53. Listing and Custodian Fees
Policy of the Company outlines different kinds of risks and The equity shares of your Company are listed at BSE
risk mitigating measures to be adopted by the Board. The Limited, Mumbai and National Stock Exchange of India
Risk Management Procedure shall be reviewed by the Risk Limited, Mumbai. The applicable annual listing fees were
Management Committee and Board of Directors on a half- paid before the due date. The annual custodian fees have
yearly basis at the time of review of Financial Results of also been paid to the depositories before the due date.
the Company.
54. Cautionary Statement
The policy is available in the Company website: www. Statements in this Report, particularly those which relate
in10stech.com to Management Discussion and Analysis as explained in the
Corporate Governance Report, describing the Company’s
49. Corporate Social Responsibility (CSR)
objectives, projections, estimates and expectations may
Your Company has been an early adopter of corporate
constitute ‘forward looking statements’ within the meaning
social responsibility (CSR) initiatives. Your Company has
of applicable laws and regulations. Actual results might
made Corporate Social Responsibility (CSR) an integral
differ materially from those either expressed or implied in
part of its ethos and culture.
the statement depending on the circumstances.
Your Company constituted a Corporate Social Responsibility
55. Acknowledgement
Committee (“CSR Committee”) in accordance with Section
Your Company has been able to operate efficiently because
135 of the Companies Act, 2013.
of the culture of professionalism, creativity, integrity and
The CSR Committee of the Board evaluated various continuous improvement in all functions and areas as well
options to implement the CSR activities and decided to as the efficient utilization of the Company’s resources for
contribute the mandated CSR amount in such activities/ sustainable and profitable growth.
projects, which are in accordance with Schedule VII of the
The Board of Directors takes this opportunity to place on
Companies Act, 2013 and the Company’s CSR Policy. The
record their appreciation for the unstinted co-operation,
Policy has been uploaded on the Company’s website at
commitment, and dedication of all the employees of
www.in10stech.com.
the Company, and the support extended by the channel
A brief outline of the Corporate Social responsibility partners, customers, vendors, business associates, banks,
(CSR) policy of the Company and the initiatives taken government authorities and all concerned. The Directors
by the Company on CSR activities during the year under are thankful to the shareholders for their continued
review are set out in Annexure-VI of this report in the patronage.
format prescribed in the Companies (Corporate Social
Your Directors look forward to the long-term future with
Responsibility Policy) rules, 2014.
confidence.
50. Conservation of energy, Technology absorption, Foreign
Exchange earnings & outgo
The particulars as prescribed under Section 134(3)(m) For and on behalf of
of the Companies Act 2013, read with the Companies Intense Technologies Limited
(Accounts) Rules, 2014 are provided in Annexure-VII to
the Board Report. C. K. Shastri
Chairman & Managing
51. Prevention of Insider Trading Code
Director
As per SEBI (Prohibition of Insider Trading) Regulation, (DIN: 00329398)
2015 as amended from time to time, the Company has
adopted a Code of Conduct for Prevention of Insider
Trading. The Company has appointed Company Secretary Jayant Dwarkanath
& Compliance Officer of the Company, who is responsible Whole Time Director
for setting forth procedures and implementation of the (DIN: 00329597)
Registered Office
code of conduct for trading in Company’s securities. During A1 Vikrampuri
the year under review, there has been due compliance with Secunderabad – 500009
the said code. Telangana, India
CIN: L30007TG1990PLC011510
52. Depository System Ph: +91-040 42221212/ 2323
As the Members are aware, your Company’s shares E-mail: [email protected]
are tradable compulsorily in electronic form and your Website: www.in10stech.com
Company has established connectivity with both National Date: July 25, 2023
Securities Depository Limited (NSDL) and Central Place: Secunderabad
Depository Services (India) Limited (CDSL). In view of
the numerous advantages offered by the depository

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Annual Report 2022-23
Annexure-I

FORM NO. AOC-2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in
sub-section (1) of section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso thereto
1. Details of contracts or arrangements or transactions not at arm’s length basis: Nil
All the contracts or arrangements or transactions entered into during the year ended 31st March, 2023 were at arm’s length
basis and in the ordinary course of business of the Company.
2. Details of contracts or arrangement or transactions at arm’s length basis:
The Company has not entered into any material contracts or arrangement or transactions with any of the related parties
during the FY 2022-23. However the details of non-material contracts or arrangement or transactions entered at arm’s length
basis and in the ordinary course of business of the company for FY 2022-23 are given below:
Value of con-
tracts/ Duration of
arrangements/ contracts/
Sr. No.

Name(s) of the related Nature of Nature of contracts/

transactions arrange-
party Relationship arrangements/ transactions
during the ments/
Year (` In transactions
Lakhs)
Intense Technologies U.K. Wholly owned Subsidiary Sales value 156.60
1.
Limited Company Reimbursement of Expenditure 188.09 Purchase or-
Wholly owned Subsidiary der/ Invoice
2. Intense Technologies FZE Sales value 93.11
Company
Wholly owned Subsidiary
3. Intense Technologies INC Reimbursement of Expenditure 56.50
Company
During FY
Wholly owned Subsidiary
4. Reasy Pte Ltd Reimbursement of Expenditure 2.84 2022-23
Company
Key Managerial Personnel Short- term employee Benefits 82.65
5. Chidella Krishna Shastri
(Managing Director) Other employment benefits 83.45
Key Managerial Personnel (Whole- Short- term employee Benefits 82.65
6. Jayant Dwarkanath
time Director) Other employment benefits 83.45 As per terms
Key Managerial Personnel (Whole- Short- term employee Benefits 34.79 of
7. C. Anisha Shastri
time Director) Other employment benefits 83.45 Appoint-
Key Managerial Personnel (Chief ment
8. H.M. Nayak Short- term employee Benefits 30.19
Financial Officer)
Key Managerial Personnel
9. Saheli Banerjee Short- term employee Benefits 11.9
(Company Secretary)

Note:
• Appropriate approvals have been taken from the Audit Committee and Board for the above Related Party Transactions by the Company
and no amount paid as advance for the above Related Party Transaction.
• The Audit committee / Board approved all the tentative Related party transactions before the commencement of financial year 2022-23
and in every quarter committee/Board review and approved the above Related party transactions, that are mostly repetitive in nature.
• Approval under section 188(1) from shareholders are not required for the above related party transactions during FY 2022-23.

For and on behalf of

Intense Technologies Limited
Registered Office
A1 Vikrampuri, Secunderabad
Telangana-500009, India
CIN: L30007TG1990PLC011510
Ph: +91-040 42221212/ 2323 C. K. Shastri Jayant Dwarkanath
E-mail: [email protected] Chairman & Managing Director Whole Time Director
Website: www.in10stech.com (DIN: 00329398) (DIN: 00329597)

Date: July 25, 2023

Place: Secunderabad

Intense Technologies Limited

60
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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Annexure-II

FORM AOC – 1
Pursuant to first proviso to sub-section (3) of section 129 read with rule 5 of Companies (Accounts) Rules 2014)
statement containing salient feature of the financial statements of subsidiaries/associate companies/joint ventures

PART - A: SUBSIDIARIES
Sl.No. Particulars Details
Intense Intense Intense
1 Name of Subsidiary Technologies Technologies Technologies Reasy Pte Ltd
FZE INC UK Ltd
Reporting period for the subsidiary concerned,
2 if different from the holding company’s April 01 to March 31
reporting period
3 Date of acquiring subsidiary 17.06.2013 08.09.2013 24.06.2014 23.12.2020
Reporting currency and Exchange rate as on
4 the last date of the relevant Financial year in Indian Rupees (in lakhs)
the case of foreign subsidiaries
5 Share capital 844.94 1,184.89 1.01 0.62
6 Profit/(Loss) Account 248.19 (605.91) 1,405.97 (8.08)
7 Total Assets 882.54 590.47 1,634.23 0.65
8 Total Liabilities 882.54 590.47 1,634.23 0.65
9 Investments - - - -
10 Turnover 475.56 93.39 681.31 -
11 Profit/(Loss) before Tax 275.71 5.04 177.74 (2.23)
12 Provision for Tax - - (34.33) -
13 Profit/(Loss) after Tax 275.71 5.04 143.41 (2.23)
14 Proposed Dividend - - - -
15 % of shareholding 100% 100% 100% 100%
PART - B: Associate Companies/Joint Ventures : NA

For and on behalf of

Intense Technologies Limited
Registered Office
A1 Vikrampuri, Secunderabad
Telangana- 500009, India
CIN: L30007TG1990PLC011510
C. K. Shastri Jayant Dwarkanath
Ph: +91-040 42221212/ 2323
Chairman & Managing Director Whole Time Director
E-mail: [email protected]
(DIN: 00329398) (DIN: 00329597)
Website: www.in10stech.com

Date: July 25, 2023

Place: Secunderabad

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Annexure-III

THE DISCLOSURES PURSUANT TO REGULATION 14 OF THE SEBI (SHARE BASED EMPLOYEE

BENEFITS) REGULATIONS, 2021 READ WITH SEBI CIRCULAR DATED JUNE 16, 2015 ON ESOP
DISCLOSURES

Sl.
Particulars Status of compliance
No.
A Disclosures in terms of the ‘Guidance note on accounting for employee share- Relevant disclosures has been made
based payments’ issued by ICAI or any other relevant accounting standards as in the Notes to Accounts attached to
prescribed from time to time. the Annual Report

B Diluted EPS on issue of shares pursuant to all the schemes covered under the The basic and diluted EPS has been
regulations shall be disclosed in accordance with ‘Indian Accounting Standard 33 disclosed in accordance with the
- Earnings Per Share’ issued by ICAI or any other relevant accounting standards as Ind-AS 33 in the Notes to Accounts
prescribed from time to time of Standalone and Consolidated
Financial Statement for the year
ended March 31, 2023
C i. A description of each ESOS that existed as any time during the year including Details are provided below
general terms and conditions of each ESOS, including –
(a) Date of shareholders’ approval
(b) Total number of options approved under ESOS
(c) Vesting requirements
(d) Exercise price or pricing formula
(e) Maximum term of options granted
(f) Source of shares (primary, secondary or combination)
(g) Variation in terms of options
ii. Method used to account for ESOS – Intrinsic or Fair Value The Company uses the Fair value-
based method of Accounting for
stock options granted after 2005.
iii. Where the company opts for expensing of the options using the intrinsic N.A
value of the options, the difference between the employee compensation
cost so computed and the employee compensation cost that shall have been
recognized if it had used the fair value of the options shall be disclosed. The
impact of this difference on profits and on EPS of the company shall also be
disclosed.
iv. Option movement during the year (for each ESOS) Details provided below
v. Weighted-average exercise prices and weighted-average fair values of Details provided below
options shall be disclosed separately for options whose exercise price either
equals or exceeds or is less than the market price of the stock.

vi. Employee wise details (name of employee, designation, number of options No stock options were granted to any
granted during the year, exercise price) of options granted to - employees during the year
(a) Senior Managerial personnel; Nil
(b) any other employee who receives a grant in any one year of option Nil
amounting to 5% or more of option granted during that year; and

(c) identified employees who were granted option, during any one year, Nil
equal to or exceeding 1% of the issued capital (excluding outstanding
warrants and conversions) of the company at the time of grant.

vii. A description of the method and significant assumptions used during the Not Applicable
year to estimate the fair value of options including the following information:

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Sl.
Particulars Status of compliance
No.
(a) the weighted-average values of share price, exercise price, expected N. A
volatility, expected option life, expected dividends, the risk-free interest
rate and any other inputs to the model;
(b) the method used and the assumptions made to incorporate the effects
of expected early exercise;
(c) how expected volatility was determined, including an explanation of the
extent to which expected volatility was based on historical volatility; and

(d) whether and how any other features of the option grant were incorporated
into the measurement of fair value, such as a market condition.

D Details related to ESPS Not Applicable

E Details related to SAR Not Applicable
F Details related to GEBS / RBS Not Applicable
G Details related to Trust Not Applicable

A. Summary of Status of ESOPs during the year

The description of the existing scheme is summarized as under:
S.
Particulars ESOP Scheme A 2009
No.

1 Total number of options approved 20,00,000

2 Number of options granted 10,55,000

The options would vest in phased manner in four years
(i) upon completion of 1 year from the date of grant, 25% of the
total options granted shall vest and become vested options.
(ii) upon completion of 2 years from the date of grant, 25%
of the total options granted shall vest and become vested
options.
Vesting Requirement (iii) upon completion of 3 years from the date of grant, 25%
5 of the total options granted shall vest and become vested
options.
(iv) upon completion of 4 years from the date of grant, the
balance 25% of the total options granted shall vest and
become vested options.
As per the plan, options lapsed i.e. unexercised options on
account of resignation etc., shall not become available for future
grants under the existing plan
Exercise price for the options granted under this plan is ` 2/- per
6 Pricing Formula
share

7 Maximum Term of options granted Options to be exercised within 4 years of vesting.

8 Sources of shares Primary

9 Variation in terms of options No variation

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Annual Report 2022-23
 The movement of options during the year are as follows:
S. ESOP Scheme
Particulars
No. A 2009

1 Total no of options granted from ESOP Scheme A 2009 20,00,000

2 No. of Options Outstanding at the beginning of the year on 1ST April 2022 58,333

3 No. of Options Granted during the year NIL

4 No. of Options Forfeited/Lapsed during the year 44,333

5 No. of Options Vested during the year -

6 No. of Options Exercised during the year 10,500

7 No. of Shares arising as a result of exercise of options 10,500

8 Money realised by exercise of options during the year (`) Rs 1,05,000

9 Loan repaid by the trust during the year from the exercise price received Not applicable

10 No. of Options outstanding at the end of the year 3,500

11 No. of Options exercisable at the end of the year 3,500

B. Weighted Average Fair Value/Exercise Price of Options granted during the year
S. Weighted Average Fair Weighted Average Exercise
Particulars
No. Value (`) Price (`)

1 Exercise price equals market price N.A. N.A.

2 Exercise price is greater than market price N.A. N.A.

3 Exercise price is less than market price N.A. N.A.

C. Employee-wise details of options granted during the financial year 2022-23 under ESOP Scheme A 2009 to:

S.
Particulars No of options granted
No.

1 Senior managerial personnel NIL

Employees who were granted, during any one year, options amounting to 5% or
2 NIL
more of the options granted during the year.
Identified employees who were granted option, during one year, equal to or
3 NIL
exceeding 1% of the issued capital of the Company at the time of grant

D. Method used to account for ESOPs

The compensation cost of stock options granted to employees is calculated based on fair value at grant date.
The fair value at grant date is determined using the Black Scholes Merton methodology. The compensation cost
is amortized tothe Statement of Profit and Loss over the vesting period of the stock option. The financial impact
is provided in the Notes to financial statements.
E. Method and significant assumptions used to estimate the fair value of options granted during the year:
S.
Particulars No of options granted
No.
1 Date of Grant N.A.
2 Risk free interest rate N.A.
3 Expected life N.A.

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64
Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

S.
Particulars No of options granted
No.
4 Expected volatility N.A.
5 Expected dividend N.A.
6 Price of the underlying share at the time of option grant N.A.

Other Intense Employee Stock Option Plans

ESOP Plan A 2007
Sl.No. Particulars ESOP 2005 Scheme A 2009
(Market Value)
1 Total options approved 30,00,000 5,00,000 20,00,000
2 Total Options granted 29,17,000 4,50,000 10,55,000
3 options vested, exercised and allotted 22,59,200 0 9,74,167
4 options not yet granted 83,000 50,000 9,45,000
5 options not exercised/ lapsed 6,57,800 4,50,000 44,333
Options which be further granted by the
6 Management, as previously approved by the 7,40,800 5,00,000 10,25,833
shareholders
Rs 2/- per Price prevailing on the Exercise price of Rs
7 Pricing formula
share date of grant 2/- per share

Intense Technologies Limited

65
Annual Report 2022-23
Annexure-IV

Particulars Of Employee
(As per Sub-section (12) of section 197 of the Act and rules made thereof as amended from time to time)

A. Statement of particulars as per Rule 5 of the Companies (Appointment and Remuneration of Managerial personnel) Rules,
2014.
The remuneration and perquisites provided to the employees and Management are at par with the industry levels. The
remunerations paid to the Managing Director and Senior Executives are reviewed and recommended by the Nomination and
Remuneration Committee
i. The ratio of the remuneration of each Director to the median remuneration of the employees of the Company for the
financial year
Ratio of
Sl No Name of the director Title remuneration
to MRE
Sitting Fees
1 Mr Pavan Kumar Pulavarty Independent Non-Executive Director 0.87:1
2 Mr Srivath Shanker Rao Kandukuri Independent Non-Executive Director 8.73:1
3 Mr Shyamsunder Mallick Vadlamani Independent Non-Executive Director 8.73:1
4 Ms Sarada Devi Vemuri Independent Non-Executive Woman Director 8.73:1
Remuneration
5 Mr. C.K. Shastri Chairman & Managing Director 483.40:1
6 Mr. Jayant Dwarkanath Whole time Director 483.40:1
7 Ms. C. Anisha Shastri Whole time Director 343.82:1
*Median Remuneration of Employees

Note: Sl No 1 to 4 are related to sitting fees paid to Non-Executive Directors

Sl No. 5 & 7 Remuneration includes monthly salary, perquisites and commission

ii. The percentage increase in remuneration of each Director, Chief Financial Officer, Chief Executive Officer, Company
Secretary or Manager in the financial year
Sl % Increase in
Name of the director Title
No Remuneration
Sitting Fees
1 Mr. Pavan Kumar Pulavarty Independent Non-Executive Director -
2 Mr. Srivath Shanker Rao Kandukuri Independent Non-Executive Director -
3 Mr. Shyamsunder Mallick Vadlamani Independent Non-Executive Director -
4 Ms. Sarada Devi Vemuri Independent Non-Executive Woman Director -
Remuneration
5 Mr. C.K. Shastri Chairman & Managing Director (4.74)
6 Mr. Jayant Dwarkanath Whole time Director (4.74)
7 Ms. C. Anisha Shastri Whole time Director (1.80)
8 Mr. Madhukar H Nayak Chief Financial Officer 5.96
9 Ms. Saheli Banerjee^ Company Secretary -
* There was no Sitting fees paid during the FY 2021-22, hence increase % not mentioned and during the FY 2022-23 Company has
started the Sitting Fees i.e. `15,000 for each Committee Meetings and ` 30,000 for each Board meetings attended by the Non-
Executive Directors
# Remuneration includes monthly salary, perquisites and commission
^ Ms Saheli Banerjee, Company Secretary and Compliance officer had joined the Company on 04.03.2022 and resigned from the
Company w.e.f. 22-02-2023.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

i. The percentage increase in the median remuneration of employees in the financial year: 9.70%
ii. The number of permanent employees on the rolls of Company: There are 696 permanent employees on the
rolls of the Company
iii. Average percentile increase already made in the salaries of employees other than the managerial
personnel in the last financial year and its comparison with the percentile increase in the managerial
remuneration and justification thereof and point out if there are any exceptional circumstances for
increase in the managerial remuneration
The average percentage increase made in the salaries of employees other than the managerial personnel was 12.14%,
while there is decrease in the remuneration of managerial personnel.
iv. The Remuneration paid to the Board of Directors and to Key Managerial Personnel is as per the Re-
muneration policy of the Company.
B. Information as per Rule 5(2) of Chapter XIII, the Companies (Appointment & Remuneration of Managerial Personnel)
Rules, 2014
i. Details of employee Employed throughout the financial year was in receipt of remuneration for that year which in the
aggregate, was not less than One Crore and Two lakh rupees
Expe- Gross Previous
Employee Educational rience Date of Remuneration employment
Designation Age
Name qualification (in joining Paid And
years) (Rs. in Lakhs) designation
Mr Anil Chief Amdocs,
Bachelor of
Vengayil Operating 58 33 01.08.2014 131.93 Designation
Engineering
Officer Senior Director
ii. Details of employee Employed for a part of the financial year was in receipt of remuneration for any part of that year
at a rate which, in the aggregate, was not less than Eight Lakhs and Fifty Thousand rupees per month:

Date Gross Previous

Employee Educational Experience
Designation Age of Remuneration employment
Name qualification (in years)
joining Paid and designation

Nil

For and on behalf of

Intense Technologies Limited
Registered Office
A1 Vikrampuri, Secunderabad
Telangana-500009, India
CIN: L30007TG1990PLC011510
C. K. Shastri Jayant Dwarkanath
Ph: +91-040 42221212/ 2323
Chairman & Managing Director Whole Time Director
E-mail: [email protected]
(DIN: 00329398) (DIN: 00329597)
Website: www.in10stech.com

Date: July 25, 2023

Place: Secunderabad

Intense Technologies Limited

67
Annual Report 2022-23
Annexure-V (b) The Securities and Exchange Board of India
(Substantial Acquisition of Shares and Takeovers)
FORM NO. MR-3 Regulations, 2011;
SECRETARIAL AUDIT REPORT (c) The Securities and Exchange Board of India
FOR THE FINANCIAL YEAR ENDING 31ST MARCH 2023 (Prohibition of Insider Trading) Regulations, 2015;
[Pursuant to section 204(1) of the Companies Act, 2013 (d) The Securities and Exchange Board of India (Issue of
and Rule No.9 of the Companies (Appointment and Capital and Disclosure Requirements) Regulations,
Remuneration of Managerial Personnel) Rules, 2014] 2009;
(e) The Securities and Exchange Board of India (Share
Based Employee Benefits and Sweat Equity)
To
Regulations, 2021;
The Members of Intense Technologies Limited
A-1, Vikrampuri, (f) The Securities and Exchange Board of India (Issue
Secunderabad - 500009. and Listing of Debt Securities) Regulations, 2008;
(Not applicable to the Company during the
financial year under review);
We have conducted the Secretarial Audit pursuant to Section (g) The Securities and Exchange Board of
204 of the Companies Act, 2013, on the compliance of applicable India(Registrars to an Issue and Share Transfer
statutory provisions and the adherence to good corporate Agents) Regulations, 1993 regarding the Companies
practices by Intense Technologies Limited (hereinafter called Act and dealing with client; (Not Applicable as the
“the Company”). Secretarial Audit was conducted in a manner Company is not registered as Registrar to Issue
that provided us a reasonable basis for evaluating the Corporate and Share Transfer Agent during the financial year
Conducts/Statutory Compliances and expressing our opinion under review);
thereon. (h) The Securities and Exchange Board of India
Based on our verification of the Company’s books, papers, (Delisting of Equity Shares) Regulations, 2009;
minutes books, forms and returns filed and other records (Not applicable as the Company has not delisted/
maintained by the Company and also the information proposed to delist its equity shares from any Stock
and according to the examinations carried out by us and Exchange during the financial year under review);
explanations provided by the Company, its officers, agents and (i) The Securities and Exchange Board of India
authorized representatives during the conduct of secretarial (Buyback of Securities) Regulations, 2018; (Not
audit, we hereby report that in our opinion, the Company has, applicable as the Company has not bought back
during the audit period covering the financial year ended on any of its equity shares).
31st March, 2023 complied with the statutory provisions listed (j) The Securities Exchange Board of India (Listing
hereunder and also that the Company has proper Board- Obligations and Disclosure Requirements)
processes and compliance mechanism in place to the extent, Regulation, 2015; and
in the manner and subject to the reporting made hereinafter.
(k) The Securities and Exchange Board of India
We have examined the books, papers, minute books, forms and (Depositories and Participants) Regulations, 2018.
returns filed and other records maintained by the Company for
We have also examined compliance with the applicable clauses
the financial year ended on 31st March, 2023 according to the
of the following:
provisions of:
(i) Secretarial Standards issued by The Institute of Company
(i) The Companies Act, 2013 (the Act) and the rules made
Secretaries of India with relating to Board Meetings and
there under;
General Meetings.
(ii) The Securities Contracts (Regulation) Act, 1956 (‘SCRA’)
(ii) The Listing Agreements entered into by the Company
and the rules made there under;
with BSE Limited (BSE) on 31st March 2023 read with
(iii) The Depositories Act, 1996 and the Regulations and the Securities and Exchange Board of India (Listing
Bye-laws framed there under; Obligations and Disclosure Requirements) Regulations,
(iv) Foreign Exchange Management Act, 1999 and the 2015 (to the extent applicable).
rules and regulations made thereunder to the extent of (iii) Other Specifically applicable laws to the Company:
Foreign Direct Investment, Overseas Direct Investment
• Information Technology Act, 2000
and External Commercial Borrowings;
• The Special Economic Zones Act,2005
(v) The following Regulations and Guidelines prescribed
under the Securities and Exchange Board of India Act, • Software Technology Parks of India Rules and
Regulations
1992 (‘SEBI Act’):-
• Indian Copy rights Act, 1957
(a) The Securities and Exchange Board of India
(Issue of Capital and Disclosure Requirements) • The Trademarks Act, 1999
Regulations, 2018; • The Patents Act, 1970

Intense Technologies Limited

68
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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

We further report that: issue of 10,00,000 Warrants to the persons belonging

(i) based on the information provided by the Company, its to Public and Promoter Category to the tune of `
officers, and its authorized representatives during the 3,69,30,000/- and the Company have obtained in-
conduct of the audit and also on review of quarterly principle approval’s from NSE & BSE};
reports by respective Department Heads/Company (iii) The Company vide its Board’s approval dt 07.03.2023
Secretary/ CEO taken on record by the Board of Directors have allotted 10,500 Equity Shares to the eligible
of the Company, adequate systems and processes and grantees pursuant to the exercise of the Stock options;
control mechanism exist in the company to monitor and
(iv) During the review period, one of the Promoter have
ensure the compliance of with the applicable general
traded 101 shares during the Trading Window Closure
laws like Labour laws, competition law and environment
Period which has resulted in non-compliance of the
laws.
Insider Trade Policy of the Company. However, the
(i) the Compliance by the Company of applicable financial above non-compliance was duly intimated to the Stock
laws like direct and indirect laws has not been reviewed Exchange(s) and a fine imposed by the Audit Committee
in this Audit since the same have been subject to review have been paid by the Promoter. The non-compliance
by Statutory Financial Audit and Other designated is very miniscule, negligible and it was the result of
professionals. inadvertent and human error without any malafide
(ii) the Board of Directors of the Company is duly intention.
constituted with proper balance of Executive Directors, (v) The Company vide its Boards’ approval dt 18.04.2023
Non-Executive Directors, and Independent Directors. have appointed Ms. Pratyusha Podugu (M No.71069) as
(iii) adequate notice is given to all Directors to schedule Company Secretary and Compliance Officer with effect
the Board and Committee Meetings, agenda and from 18.04.2023.
detailed notes on agenda were sent electronically well
We further report that:
in advance or shorter consent were taken in other cases,
(i) there are adequate systems and processes in the
and a system exists for seeking and obtaining further
Company commensurate with the size and operations
information and clarifications on the agenda items
of the Company to monitor and ensure compliance with
before the meeting and for meaningful participation at
applicable laws, rules, regulations and guidelines.
the meeting.
(iv) all the decisions at the Board Meetings and Committee (ii) there were no specific events/actions in pursuance of
Meetings have been carried out unanimously as recorded the above referred laws, rules, regulations, etc., having
in the Minutes of the meetings of the Board of Directors a major bearing on the Company’s affairs except as
or Committee of the Board, as the case may be. reported in the Financial Audit Report:

We further report that: Place: Hyderabad For Puttaparthi Jagannatham& Co.

(ii) The Company vide its Board Meeting dt 22.02.2023 Date: 30th May, 2023 Company Secretaries
have approved the allotment of 10,00,000 Equity
shares to Promoter and Non-promoter, on preferential CS Navajyoth Puttaparthi
basis pursuant to the exercise of the options attached Partner
FCS No: 9896; C P No: 16041
to warrants allotted on 18.05.2021 {The Company vide
Peer Review Certificate No. 1158/2021
its Board’s approval dt 20.04.2021 and Shareholder’s UDIN: F009896E000418205
approval dt 18.05.2021 have approved the preferential

*This report is to be read with our letter with given date which is annexed as ‘Annexure A’ and forms an integral part of this report.

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69
Annual Report 2022-23
‘ANNEXURE A’

To
The Members of Intense Technologies Limited
A-1, Vikrampuri,
Secunderabad - 500009.
Our report with given date is to be read along with this letter.
1. Maintenance of secretarial record is the responsibility of the management of the company. Our responsibility is to express
an opinion on these secretarial records based on our audit.
2. We 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. We believe that the processes and practices, we followed provide a reasonable basis
for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the company.
4. Wherever required, we 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.

Place: Hyderabad For Puttaparthi Jagannatham& Co.

Date: 30th May, 2023 Company Secretaries

CS Navajyoth Puttaparthi
Partner
FCS No: 9896; C P No: 16041
Peer Review Certificate No. 1158/2021
UDIN: F009896E000418205

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Annexure-V(A)

SECRETARIAL COMPLIANCE REPORT OF INTENSE TECHNOLOGIES LIMITED

FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2023

We have conducted the review of the compliance of the applicable statutory provisions and the adherence to good corporate
practices by Intense Technologies Limited (hereinafter referred as ‘the listed entity’) having its Registered Office at A1, Vikrampuri,
Secunderabad – 500009, Telangana, India. Secretarial Review was conducted in a manner that provided us a reasonable basis for
evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the listed entity’s books, papers, minutes books, forms and returns filed and other records maintained
by the listed entity and also the information provided by the listed entity, its officers, agents, and authorized representatives
during the conduct of Secretarial Review, we hereby report that in our opinion, the listed entity has, during the review period
covering the financial year ended on 31st March 2023, complied with the statutory provisions listed hereunder and also that the
listed entity has proper Board processes and compliance mechanism in place to the extent, in the manner and subject to the
reporting made hereinafter:
We, Puttaparthi Jagannatham & Co., a firm of Practicing Company Secretaries, Hyderabad, have examined:
a) all the documents and records made available to us and explanation provided by (“the Intense Technologies Limited
listed entity”),
b) the filings/ submissions made by the listed entity to the stock exchanges,
c) Website of the listed entity
d) any other document/ filing, as may be relevant, which has been relied upon to make this certification

for the financial year ended 31st March 2023 (“Review Period”) in respect of compliance with the provisions of:
(a) the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and the Regulations, circulars, guidelines issued
thereunder; and
(b) the Securities Contracts (Regulation) Act, 1956 (“SCRA”), rules made thereunder and the Regulations, circulars, guidelines
issued thereunder by the Securities and Exchange Board of India (“SEBI”);

The specific Regulations, whose provisions and the circulars/ guidelines issued thereunder, have been examined, include:
(a) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;
(b) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;
(c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
(d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; Not Applicable to the Company
during the review period;
(e) Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021;
(f) Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008; Not Applicable to the
Company during the review period;
(g) Securities and Exchange Board of India (Issue and Listing of Non-Convertible and Redeemable Preference Shares)
Regulations, 2021; Not Applicable to the Company during the review period;
(h) Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018;
(i) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(j) and circulars/ guidelines issued thereunder;

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I/We hereby report that, during the Review Period the compliance status of the listed entity is appended as below:

Sr. No. Particulars Compliance Status Observations/

(Yes/ No/NA) Remarks by PCS
1 Secretarial Standard
The compliances of the listed entity are in accordance with the applicable Secretarial Yes None
Standards (SS) issued by the Institute of Company Secretaries India (ICSI), as notified
by the Central Government under section 118(10) of the Companies Act, 2013 and
mandatorily applicable.
2 Adoption and timely updation of the Policies:
• All applicable policies under SEBI Regulations are adopted with the approval of
board of directors of the listed entities. Yes None
• All the policies are in conformity with SEBI Regulations and have been reviewed &
timely updated as per the regulations/ circulars/ guidelines issued by SEBI.
3 Maintenance and disclosures on Website:
• The Listed entity is maintaining a functional website. Yes None
• 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 re-directs to the relevant document(s)/ section of
the website.
4 Disqualification of Director:
None of the Directors of the Company are disqualified under Section 164 of the Companies Yes None
Act, 2013 as confirmed by the listed entity.
5 Details related to Subsidiaries of listed entities have been examined w.r.t.:
(a) Identification of material subsidiary companies. Yes None
(b) Disclosure Requirements of material as well as other subsidiaries.
6 Preservation of Documents:
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 Yes None
Archival policy prescribed under SEBI LODR Regulations, 2015.
7 Performance Evaluation:
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 Yes None
Regulations.
8 Related Party Transactions:
(a) The listed entity has obtained prior approval of the Audit committee for all Related
party transactions; or
(b) The listed entity has provided detailed reasons along with confirmation whether the Yes None
transactions were subsequently approved/ratified/rejected by the Audit Committee, in
case no prior approval has been obtained.
9 Disclosure of events or information:
The listed entity has provided all the required disclosure(s) under Regulation 30 along
with Schedule III of SEBI LODR Regulations, 2015 within the time limits prescribed Yes None
thereunder.
10 Prohibition of Insider Trading:
The listed entity is in compliance with Regulation 3(5) & 3(6) SEBI (Prohibition of Insider Yes None
Trading) Regulations, 2015.
11 Actions taken by SEBI or Stock Exchange(s), if any: NA
No action(s) has been taken against the listed entity/ its promoters/ directors/ subsidiaries Self-explanatory
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 except as provided under separate paragraph herein.
12 No additional non-compliance observed for any SEBI regulation/circulars/guidance note Self-explanatory
etc. *

Compliances related to the resignation of Statutory Auditors from listed entities and their material subsidiaries as per SEBI
Circular CIR/CFD/CMD1/114/2019 dated 18th October 2019: Not applicable, no such event during the review period.
*During the review period, one of the Promoter have traded 101 shares during the Trading Window Closure Period which has resulted in non-
compliance of the Insider Trade Policy of the Company. However, the above non-compliance was duly intimated to the Stock Exchange(s) and a
fine imposed by the Audit Committee have been paid by the Promoter. The non-compliance is very miniscule, negligible and it was the result of
inadvertent and human error without any malafide intention.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

(a) The listed entity has complied with the provisions of the above Regulations and circulars/ guidelines issued thereunder,
except in respect of matters specified below: -

Compliance
Type of
Requirement
Action. Observations/
(Regulations/
Action Advisory/ Remarks of Management
Circulars/ Regulation/ Details of Fine
Sr. No Deviations Taken Clarification/ the Practicing Response Remarks
Guidelines Circular No. Violation Amount
by Fine/ Show Company
including
Cause Notice/ Secretary
specific
Warning, etc.
clause)

- - - - - - - - - - -

(b) The listed entity has taken the following actions to comply with the observations made in previous reports (31.03.2022):

Compliance
Type of
Requirement
Action Observations/
(Regulations/
Action Advisory/ Remarks of Management
Sr. Circulars/ Regulation/ Details of Fine
Deviations Taken Clarification/ the Practicing Response Remarks
No Guidelines Circular No. Violation Amount
by Fine/ Show Company
including
Cause Notice/ Secretary
specific
Warning, etc.
clause)

- - - - - - - - -

Assumptions & Limitations of scope and Review:

1. Compliance of the applicable laws and ensuring the authenticity of documents and information furnished, are the
responsibilities of the management of the listed entity.
2. Our responsibility is to certify based upon our examination of relevant documents and information. This is neither an audit
nor an expression of opinion.
3. We have not verified the correctness and appropriateness of the listed entity’s financial Records and Books of Accounts.
4. This Report is solely for the intended purpose of compliance in terms of Regulation 24A(2) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and is neither an assurance as to the future viability of the listed entity nor
of the efficacy or effectiveness with which the management has conducted the affairs of the listed entity.

Place: Hyderabad For Puttaparthi Jagannatham& Co.

Date: 30th May, 2023 Company Secretaries

CS Navajyoth Puttaparthi
Partner
FCS No: 9896; C P No: 16041
Peer Review Certificate No. 1158/2021
UDIN: F009896E000418018

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Annexure-V(B)

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 of
Intense Technologies Limited
A1, Vikrampuri, Secunderabad-500009.

We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Intense Technologies
Limited having CIN L30007TG1990PLC011510 and having registered office at A1, Vikrampuri, Secunderabad – 500009, Telangana,
India (hereinafter referred to as ‘the Company’), produced before 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 our opinion and to the best of our 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 us by the Company & its
officers, We hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending
on 31st March, 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.

Sr. No. Name of Director DIN Date of appointment in Company

1 Krishna Shastri Chidella 00329398 24-07-1990
2 Jayant Dwarkanath 00329597 19-12-2003
3 Tikam Sujan 02137651 14-08-2003
4 Sarada Devi Vemuri 02268210 21-07-2008
5 Pavan Kumar Pulavarty 02530632 31-01-2009
6 SrivathShanker Rao Kandukuri 02593315 27-03-2009
7 ShyamsunderMallick Vadlamani 02665539 25-08-2009
8 C. Anisha Shastri 08154544 27-07-2018
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.

Place: Hyderabad For Puttaparthi Jagannatham& Co.

Date: 30th May, 2023 Company Secretaries

CS Navajyoth Puttaparthi
Partner
FCS No: 9896; C P No: 16041
Peer Review Certificate No. 1158/2021
UDIN: F009896E000418018

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Annexure-VI

The Annual Report On CSR Initiatives

1. Brief outline on CSR Policy of the Company

Social and environmental responsibility has always been at the forefront of our company. The Company has-
been regularly spending for social welfare and philanthropic activities in the communities in which it is operating,
even though it did not come under CSR obligation. As per the provisions of the Act, based on the profitability for
the three preceding financial years, the Company has come under the purview of CSR obligation. Accordingly,
The CSR Committee was constituted and the CSR Policy was framed in alignment with the provisions of the
Companies Act, 2013. The activities proposed to be undertaken include projects in urban and rural development,
welfare activities, women empowerment, eradicating hunger, promoting health care and education in the areas
surrounding the factory location. The CSR policy is available on the website of the Company at https://in10stech.
com/investors/csr
The CSR policy of the Company including overview of projects or programs undertaken / proposed to be
undertaken are given below. The primary focus areas are:
• Education – To provide education and skill development to rural youth.
• Health– To provide health care, medication, safe drinking water to underprivileged sections of the society.
• Environment– To promote a clean and green environment.
• Rural Development– To adopt schools and distribute books to students in schools in rural areas.

2. Composition of CSR Committee:

Designation Number of meetings of Number of meetings of
Sl.
Name of Director / Nature of CSR Committee held CSR Committee attended
No.
Directorship during the year during the year
1 Mr K.S. Shanker Rao Chairman 1 1
2 Mrs V. Sarada Devi Member 1 1
3 Mr V.S. Mallick Member 1 1

3. The web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on
the website of the company:
Composition of CSR Committee: https://in10stech.com/investors/csr
CSR Policy: https://in10stech.com/investors/csr
CSR Projects: https://in10stech.com/investors/csr

4. Provide the executive summary along with web-link(s)of Impact Assessment of CSR Projects carried out in pursuance of
sub-rule (3) of rule 8, if applicable: Not Applicable

5. (a) Average net profit of the company as per sub-section (5) of section 135: ` 1501.66 Lakhs for FY 2021-22
(b) Two percent of average net profit of the Company as per section 135(5): ` 30.03 lakhs
(c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Nil
(d) Amount required to be set-off for the financial year, if any: Nil

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6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project): ` 30.12 Lakhs

Amount Mode of implementation

Location of the project Amount Transferred – Through implementing
Amount spent in to agency
Item from the list Local allocated The Unspent
Name Mode of
Sl. of activities area Project for the current CSR Account
of the implementation -
No. in Schedule VII to (Yes/ duration project financial for the CSR
Project Direct (Yes/No)
the Act No) State District (Rs. in Year Project as Name registration
Lakhs) (Rs. In per Section number
Lakhs) 135(6) (Rs.
In Lakhs).

Blanket (i) eradicating

1 Distribution hunger, poverty Yes Telangana Hyderabad 1 Year 0.68 0.68 - Yes - -
and malnutrition

Cricket Kits (vii) training to

Distribution promote rural
sports, nationally
2 recognised sports, Yes Telangana Hyderabad 1 Year 0.56 0.56 - Yes - -
paralympic sports
and olympic
sports

Nimble (iii) promoting

hands gender equality,
with Sree empowering
Sai Seva women, setting
Nilayam up homes and
hostels for women
and orphans;
setting up old age
homes, day care Sree Sai
3 centres and such Yes Telangana Medak 1 Year 10.50 10.50 - No Seva CSR00033918
other facilities for Nilayam
senior citizens
and measures
for reducing
inequalities faced
by socially and
economically
backward groups;

Association
with Mathru
4 Mathru Yes Telangana Medchal 1 Year 18.38 18.38 - No Abhaya CSR00018027
Abhaya Foundation
Foundation

Total 30.12 30.12 -

(b) Amount spent in Administrative Overheads : Nil

(c) Amount spent on Impact Assessment, if applicable : Nil
(d) Total amount spent for the Financial Year [(a)+(b)+(c)] : ` 30.12 Lakhs
(e) CSR amount spent or unspent for the financial year:

Amount Unspent (Rs. In Lakhs)

Total Amount
Spent for the Total Amount transferred to Unspent CSR Amount transferred to any fund specified under
Financial Year Account as per section 135(6) Schedule VII as per second proviso to section 135(5)
2022-23
Name of the
(Rs. In Lakhs) Amount Date of Transfer Amount Date of Transfer
Fund
30.12 - - - - -
(f) Excess amount for set-off, if any:

Sl. Amount
Particular
No. (Rs. In Lakhs)
i Two percent of average net profit of the company as per section 135(5) 30.03
ii Total amount spent for the Financial Year 30.12
iii Excess amount spent for the financial year [(ii)-(i)] 0.09
iv Surplus arising out of the CSR projects or programmes or activities of the previous financial Nil
years, if any
v Amount available for set off in succeeding financial years [(iii)-(iv)] Nil

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

7. Details of Unspent CSR amount for the preceding three financial years:

1 2 3 4 5 6 7 8
Sl. Preceding Amount Balance Amount Amount transferred to any Amount Deficiency,
No. Financial Trans- Amount spent In the fund specified under Sched- Remaining to if any
Year. ferred to in Un- Finan-cial ule VII as per second proviso be spent in
Unspent spent CSR Year to sub- succeeding
CSR Account (Rs. In section(5)ofsection135, if any financial
Account under sub- lakhs) years.
under section(6) Name of the Date of (Rs. In lakhs)
sub- sec- of Section Fund Amount transfer.
tion(6) of 135 (Rs. In (Rs. In lakhs).
Section lakhs)
135 (Rs. In
Lakhs)
1 2019-20 - - - - - - NA
2 2020-21 2.25 2.25 - - - NA
3 2021-22 - - - - - - NA

8. Details of capital assets created or acquired during the financial year:

Short particulars of the property Pin code Date of Amount CSR Details of entity/ Authority/
or of the creation of CSR beneficiary of the registered
property amount Registration owner
asset(s) [including complete or spent Number, if
address and location of the asset(s) applicable Name Registered
property (In Lakhs) Address

Nil
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5): NA

For and on behalf of

Intense Technologies Limited
Registered Office
A1 Vikrampuri, Secunderabad
Telangana-500009, India
CIN: L30007TG1990PLC011510
Ph: +91-040 42221212/ 2323 C. K. Shastri K. S. Shanker Rao
E-mail: [email protected] Chairman & Managing Director Chairman of CSR Committee
Website: www.in10stech.com (DIN: 00329398) (DIN: 02593315)

Date: July 25, 2023

Place: Secunderabad

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Annexure-VII 1) Efforts, in brief, made towards technology absorption,
adaptation and innovation
All process technologies are developed in-house at
the R&D. The R&D is equipped with instruments and
Conservation of energy, equipment to generate products. After completely
studying the process, standard operating procedures
Technology absorption, Foreign are developed for implementation.
Exchange earnings & outgo 2) Benefit derived as a result of above efforts
- Improvement in the quality of products.
(Information required under the Companies (Disclosure of
- Reduction in cost of manufacture.
Particulars in the Report of the Board of Directors) Rules,
- Commercialization of new product.
2014)
3) In case of imported technology (imported during last
5 years), give details of Technology imported, year of
A) Conservation of Energy import, whether technology fully absorbed.
Energy plays an eminent role in the economic growth - No technology has been imported by the
of a nation, and is also one of the critical inputs to the company
production process at any Company. Intense has always
D) Foreign exchange earnings and outgo:
been conscious of the need to conserve energy. The
The Foreign Exchange earned in terms of actual
Company’s core activity is information technology and
inflows during the Financial Year 2022-23: `962.43
services related and is making every effort to conserve
the usage of power. The operations of the company are lakhs.
not energy intensive. However the company endeavors to The Foreign Exchange outgo in terms of actual
conserve energy consumption wherever possible. outflows during the Financial Year 2022-23: ` 551.03
lakhs.
B) Research and Development
The Company lays great emphasis on R&D which forms the
core of the business development strategy. All the process
technologies implemented by the company have been For and on behalf of
developed in-house in the DSIR recognized R&D center. Intense Technologies Limited
The R&D department has developed and mastered a library
of reactions over a period of time which forms the crux for
future developments. The swiftness in development and C. K. Shastri
implementation of new technologies have brought and Chairman & Managing Director
will continue to bring good business for the company. (DIN: 00329398)
1) Specific areas in which R&D is carried out by the
company Jayant Dwarkanath
- To enhance its capability and customer service Whole Time Director
the company continuous to carry out R & D (DIN: 00329597)
activities in-house.
Registered Office
- Continuous research to upgrade existing products
A1 Vikrampuri
and to develop new products and services
- Scale up and optimization of process technologies Secunderabad - 500009
CIN: L30007TG1990PLC011510
2) Benefits derived as a result of the above efforts: Ph: +91-040 42221212/ 2323
During Financial Year 2022- 2023 the company has E-mail: [email protected]
- Continued Optimization of the existing process. Website: www.in10stech.com
- Introduced of new and qualitative products.
- Up gradation of existing products Date: July 25, 2023
Place: Secunderabad
3) Future plan of action
Intense will continue to invest in and adopt the best
processes and methodologies suited to its line of
business and long-term strategy. Training employees
in the latest appropriate technologies will remain a
focus area. The Company will continue to leverage
new technologies and also on the expertise available.
C) Technology, absorption, adaptation and innovation
Technology absorption helps support the innovation
process with advanced analytical tools and the latest
detection technologies. The Company has been and will
continue to leverage new technologies and adopts the
best processes and methodologies that fits to its line of
business.
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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

MANAGEMENT

DISCUSSION AND ANALYSIS

Achieve improved outcomes with technology-enabled services
– Key Drivers

Overview of the Industry Company Overview

Leading Companies rely on our enterprise software products
Technology-enabled businesses have emerged rapidly in the and services for enhancing their customer experience.
past few years and data is the cornerstone of this transformation. Headquartered in Hyderabad, India, our team serves customers
across 4 continents. We are leading players in the Indian
The new business landscape is all about data-driven Telecom industry, Insurance, and private sector banking
insights. One big area here is around data governance, and domain. With more than 20+ years of experience in the
how it cascades into security and access. telecom, banking and insurance sectors we have established
**The global data analytics market size was exhibited at USD 30 the value of our award-winning product portfolio.
billion in 2022 and is projected to surpass around USD 393.35 Our list of marquee customers includes top five private banks,
billion by 2032, poised to grow at a projected CAGR of 29.4% top five insurance service providers, and the two top telecom
during the forecast period 2023 to 2032. service providers (TSPs) of India. We believe that leveraging
The transformative power of cloud, automation and AI is technology to deliver mission critical enterprise class
simplifying business operations and accelerating innovation. applications at scale is the cornerstone of the business impact
By integrating machine learning and artificial intelligence to we deliver.
collect and analyze operational data, organizations can unlock With over 50% market share in the insurance and telecom
tremendous value. sectors in India, our highly scalable enterprise-grade solutions
According to IDC research, “The foundation of enterprise generate over 5 million statements and more than 400 million
intelligence lies in AI-driven technology platforms, notifications each day.
comprising three pillars: information synthesis, Intense Technologies produces software products that are
learning capacity, and scalable insights application.” designed for digital business transformation. Our platform is
**Source: Precedence Research cloud-based and designed to seamlessly integrate with our

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client’s existing systems, providing insightful and ingenious Our strategic footprint is firmly established in high-volume,
solutions on a global scale. Our strong data management recurring revenue landscapes, a testament to our commitment
capabilities, backed by powerful analytics and AI help us to sustainable growth. By fostering a “Customer Centric” and
to position our products as part of the Digital Customer “Agile” ethos, we are cultivating an organizational culture that
Experience value proposition. puts the customer at the heart of our operations and adapts
seamlessly to evolving demands. This transformation also
Digital ecosystems, strong partnerships, and key alliances
extends to reshaping our innovation strategies and product
bring the best of capabilities through joint business solutions
portfolio, ensuring we remain at the forefront of dynamic
to clients and help us penetrate newer markets in newer
industries. This pursuit, while requiring substantial financial
geographies.
investment, is firmly anchored in a steadfast long-term focus,
Your Company offers innovative and customer-centric digital as we lay the foundations for a truly sustainable and thriving
experiences, enabling enterprises, associates, and society enterprise.
to evolve progressively. We are focused on leveraging next-
The capabilities that we have built over the past years, including
generation technologies to enable end end-to-end digital
Customer Communication Management and Data Management,
transformation for global customers.
are what large enterprises are looking for.
The company aims at delivering tomorrow’s experiences today
Intense’s market-leading capabilities in data, low code, AI, and
and believes that the Future is now. Intense Technologies
automation, puts the company indispensably inside the clients’
Limited is a Public Listed Company, incorporated and domiciled
ecosystem. In several instances the company has emerged as a
in India, and has its primary listing on the National Stock
critical partner for its customers.
Exchange of India Limited (NSE) and BSE Limited.
This year, we made several investments, and added new
Mapping the paradigm shift capabilities to support future growth, with focused teams in
Technology spending is forecasted to increase with enterprises data services, cloud services, SaaS products, and Government
investing in value-driven transformation focused on areas Managed Services. Our complete communications suite now
like cloud transformation, automation, integration of AI, and comes with transmission services, making this a comprehensive
data analytics as their top priorities. The demand for digital offering.
transformation and infrastructure modernization will continue With IP enabled services and a strong focus in cloud, we
to drive growth for the industry with accelerated adoption have partnered with hyperscalers like AWS, Azure, and IBM
of digital and emerging technologies. IT services include a to be a preferred partner to customers seeking to use cloud
significant digital component, led by digital transformation, capabilities.
cloudification, platform engineering, AI, building software-as-
UniServe™ NXT Digital Suite, comes with complete customer
a-service (“SaaS”) enabled products and associated consulting
lifecycle management, right from campaign management,
services.
omnichannel digital customer engagement, bill presentment &
As an innovative product and tech-enabled services company, payment, and analytics to providing newer services, and robust
equipped with valuable IP assets in Data Management, data management capabilities. Penetrating global markets,
Enterprise Communications, MarTech, and BPM, Intense leveraging partnerships, and strengthening relationships with
continues to invest in cutting-edge growth engines, including existing customers is resulting in consistent revenues streams.
Blockchain, cloud, and low-code technologies. We have expanded our portfolio with newer capabilities and
To ensure continuous progress and evolution in the ever- services to meet the needs of our customers.
evolving tech landscape. Intense is strategically positioned
Expanding capabilities in key digital technology areas such as
to scale and grow in the coming years. Additionally, the
AI, product engineering, the digital platform UniServeTM NXT
technology solutions are tried, tested, and trusted by Fortune
helps enterprises reimagine their digital journeys.
500s across BFSI and Telecom domains.

According to IDC, “The AI software market grew rapidly

Driving an agile transformation during 2021, and with accelerated digital disruption,
During the year under review, we have seen steady growth the overall AI software market will approach $791.5
given that our customers are expanding their work with us. We billion in revenue in 2025 at a CAGR of 18.4%, with the
launched internally a 3-year project- “Project Butterfly” with a AI-centric part to approach $192.6 billion at a CAGR
focus to scale and expand our tech-enabled service offerings to of 31.2% over the forecast period.
our existing customers and drive new opportunities to enhance Despite all-time high inflation and looming recession fears,
the topline and bottom-line. spending in AI and automation technologies and solutions
As the name suggests, “Project Butterfly” stands for proceed at full steam. Technology leaders emphasize that
transformation. Like the transformation of a pupa into a butterfly, lessons learned from past downturns signal that technology is
our journey is underscored by growth and metamorphosis. Just a critical business driver and will help them future proof their
as the pupa undergoes a remarkable transition, our IP and tech- business.”
enabled services act as accelerators, affording us the invaluable Further enhancing the Customer Communication Management
advantages of both time and cost efficiency. In a world fueled (CCM) offering is our marketing automation platform
by agility and speed, this becomes paramount for ours and our
customers’ success.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

orchestrating end-to-end customer journeys, using data, AI and ML, social media integration and interactive communication
capabilities.
The communications offering, now incorporates transmission services, enabling us to provide an end-to-end communications
solution to our esteemed enterprise clientele, such as banks and insurance companies thus securing long-term partnerships.
Year after year we have been recognized by leading analysts such as Gartner, Forrester, Aspire Leaderboard, and most recently
Spark Matrix. We believe that these recognitions are a vindication of our technology strengths. We have emerged as leaders in
the Private sector banking and Private sector insurance vertical in the CCM domain.

Ensuring Sustainable Growth

A Tech-Enabled Services Company, with a portfolio of elite services, end-to-end communication solutions,
and cutting-edge innovations in Data and Cloud technology.
As a tech-enabled service company, we are actively developing a portfolio of elite services, end-to-end communication solutions,
with strategic investments in Data and Cloud technology and other cutting-edge innovations to create enhanced value for our
customers and stakeholders.
Riding the cloud for growth acceleration and enabling new revenue models
We have partnered with cloud infrastructure providers like AWS, Azure, and IBM to offer Software as a Service offering of our
solutions across geographies. Our cloud capabilities create seamless experiences in public, private, and hybrid clouds. Scaling
our cloud capabilities, especially around cloud advisory, data on cloud, cloud security, SaaS, PaaS, IaaS, and private cloud
New deals in the banking and insurance sectors
We have penetrated deeper into the domestic insurance, financial services and banking verticals and are channeling our efforts
for maximum results, going deeper into areas we have strength in like Services and Insurance.
Customer engagement at the forefront
We conduct Quarterly CSAT surveys to get feedback from our existing customers to continuously improve support, and
operations and work on technology innovation. It is heartening to note we are continuously getting a rating of 4 out of 5 on
an average across all our customer engagements. We know this from our interactions with customers and partners who have
appreciated our efforts in going beyond the normal to support business continuity.

Our Focus
Focusing on technologies enabled by the cloud, our digital customer engagement solutions are now cloud-hosted, delivering
experiences that delight customers. Our commitment to delivering cutting-edge solutions is evident through our data services,
cloud services, and managed services.

The key pointers are:

AI, Cloud, and Big Data continue to gain momentum:
In a changing business landscape, our focus is on enhancing automation, data analytics, AI, digital experience, amplified
by the cloud. Our Digital Suite of services and solutions are driving accelerated cloud-powered transformations for clients.
Strengthening our own digital prowess through the cloud we offer faster modernization benefits.
Growing our market share
We continue to gain market share because of our customers' confidence in our ability to successfully navigate their digital
journeys. With the acceleration of digital adoption across industries, we see immense potential to engage and partner with
newer customers as they transform, adapt, and thrive while we accelerate innovation and digital capabilities to capitalize on the
expanding market opportunities.
Comprehensive digital customer engagement for seamless customer interactions
Our strategic focus on customer-centric initiatives with UniServeTM Reach, a marketing automation platform, has yielded
remarkable insights that drive business optimization. The omnichannel journey analysis offers a nuanced perspective &
empowers us to offer actionable insights that lead to improved business outcomes. The digital customer engagement includes
last-mile transmission for seamless customer interactions
Strengthening the leadership team by increasing sales presence in matured markets, strengthening marketing, pre-sales,
consulting, and business development teams is a strategic initiative. The year gone by has seen new Leadership Hiring with Nitin
Sarda joining the company as our CFO.

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 Partnerships & Alliances
We're exploring financial and business partnerships to enhance our agility and deliver better results. We have nurtured premier
ecosystem alliances with System Integrators, and software companies, to be able to offer holistic solutions to our clients.

Our Strengths
We are a global enterprise software products company, headquartered in India with a strong and emerging presence in USA,
LATAM, EMEA and APAC. We believe we are well-positioned in the global competitive market with almost three decades of
experience in product development, digital offerings, and IT services, uniquely positioned to help enterprises across the world
embrace digital transformation with our Digital and AI First Strategy.
• We offer end-to-end tech-enabled service offering in consulting, software application development, data, product engineering,
cloud, and business process management.
• Our digital customer engagement includes last-mile transmission for seamless connections and exceptional interactions.
• Our industry-led IP solutions have garnered strong resonance with our esteemed customers, and we are dedicated to further
developing and scaling these solutions. There has been a significant uptick in the adoption of our tech-enabled services,
leveraging our invaluable IP assets. This holds immense strategic importance for us and underlines our growing impact in
the industry.
• We have invested in cutting-edge solutions that is evident through our data services, cloud services, and managed services
tailored for governments.
• By enabling businesses with deep tech capabilities, we empower them to confidently embrace emerging technologies.
• Our internal research and development teams identify, develop, and deploy new offerings leveraging next-generation
technologies. These give us the ability to keep pace with ever-changing technology and how they apply to customer
requirements.

As industries evolve, our unwavering dedication to providing robust and transformative solutions makes us a trusted partner for
growth and success.
We have a strong and well-recognized brand. Our flagship UniServe™ NXT Digital Suite offers differentiated solutions for our
client’s business processes. Our solutions are cloud-based and seamlessly integrate into the clients’ existing systems, obviating
the need to rip and replace existing hardware or software, leading to a rapid return on investment, with technology not being a
hurdle. We serve customers in telecom, banking, insurance, and government verticals who contribute a significant annuity and
services revenue.

Our Competition
In the domains we operate there are many global players and we have been evaluated by research agencies like Gartner, Spark
Matrix and Aspire for our capabilities. We experience a rapidly changing marketplace with new competitors in niche technology
areas. We see intense competition in traditional services, a rapidly changing marketplace, and the emergence of new players in
niche technology areas.
In addition to this, insourcing of technology services by the technology departments of our clients is another ongoing competitive
threat.

Risks faced by the Company.

Global, economic and regulatory situation Consistent approach of the Market towards technology
(digital products and services) is subject to fluctuations,
which depend on both economic and regulatory factors of
the markets in which they operate.
Due to a substantial increase in unemployment rates across
certain countries in which we operate (including the United
States, United Kingdom, and MEA regions) governments have
imposed restrictive legislations limiting companies in those
countries partnering with us, or could inhibit our ability to
staff client projects in a timely manner, which may impact our
revenue and profitability.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Global, economic and regulatory situation New and changing regulatory compliances, corporate
governance and public disclosure requirements add
uncertainty to our compliance policies and increase our costs
of compliance.
Per-country restrictions on visas, increases in required
minimum wage levels for visa-dependent employees, and /
or increased enforcement may affect our ability to compete,
resulting in various adversities.
Supply-side risks The economic fallout and the subsequent recovery from
COVID-19 could decrease our customers’ spending on
technology. The economic fallout results in supply chain
disruptions which might adversely impact the demand for
prospective projects, cause cancellations or ramp-downs of
existing projects, increased requests for furloughs, increase
pricing pressure, higher travel restrictions, impose supply-side
constraints, and adversely impact cash conversion cycles.
Dependence on skilled manpower As an enterprise software products company with solutions
addressing niche technologies, there is greater dependency
on manpower with specialized domain skills both to work
on the roadmap of our platform and to deploy solutions at
customer locations. There is always a threat of manpower
attrition and the risk of not being able to scale up skilled
expertise on time resulting in delays in achieving our
milestones.
Our success depends largely on our management team and
key personnel and our ability to attract and retain them.
Long sales cycles Long sales cycles because of restrictions on travel, marketing
events, and in-person client meetings may result in sub-
optimal branding and delays in our sales and commercial
processes. Any delay is detrimental to the business. And sales
delay can be equally adverse on our revenue. Long sales
cycles due to various factors directly affect the timing of
predicted revenues.
Dependence on business partners Globally, we are dependent on many system integrators and
partners to improve our reach to global markets and ride on
their brand. While we are scaling and expanding our reach
to global markets and exploring direct sales opportunities,
there will be pressures on margins in the immediate term. We
may engage in acquisitions, strategic investments, strategic
partnerships or alliances, or other ventures that may or may
not be successful given the current pandemic situation.
Changes in the policies of the Indian Government or political
instability may adversely affect the economic conditions
in India generally, which could impact our business and
prospects.
Proprietary technology There can be instances of misappropriation of our
technological expertise or reverse engineering of our
solutions. Legal standards and scope of protection in many
countries may not provide adequate protection to our
proprietary technology/technologies. We have filed copyright
and patent for around four of our innovative IPs to avoid
misappropriation.

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Our Business Development Strategies • The data management software (excluding DBMS) market
grew by 7.9% in U.S. dollars in 2022, to reach $10.44 billion.
Keeping in view the opportunities created and market trends
across the world, the following are our strategies to capitalize • Communication Service Providers are adopting
and take your company to the next level. composability approaches, by investing in scalable
technologies to accelerate business outcomes.
• Cloud/SaaS- We seek to deliver capabilities that create
seamless experiences in public, private, and hybrid cloud, • By 2025, 50% of large organisations will have failed to
across PaaS, SaaS, and IaaS landscapes. unify engagement channels, resulting in a disjointed and
siloed CX that lacks context.
• CCM on cloud- Our modern, cloud-based CCM is a
customer communications and experience solution hosted
Recommendations
on the cloud.
• Organizations today view cloud as a highly strategic
• Business Development, Sales, and Marketing- Our talent
platform for digital transformation, which is requiring
strategy continues to be a key focus. We’ve made long-
cloud providers to offer more sophisticated capabilities as
term investments in capability building across business
the competition for digital services heats up. In the current
development, sales, delivery, and innovation; thereby
market, hyperscale cloud providers are driving the cloud
supporting a healthy pipeline, across geographies.
agenda.
• New digital experiences – The need for improved
• From the next generation of augmented user experiences
experiences is shaped by business agility, scaled
and beyond, data and analytics, these changes will require
innovation, and ecosystems. We have a strategic focus
organizations to resource optimize, accelerate change,
on areas of relevance for our clients. The demand for
drive innovation, and transform.
new service and technology offerings, including cloud
solutions, marketing automation platforms, and chatbot • Organizations need to maximize business value from
integration, is encouraging. ongoing AI initiatives, optimize our resources, speed up
change, and drive innovation.
• Work with System Integrators and Partners to penetrate
newer markets, and newer geographies. We’re focused • With customers readily adopting digital applications
on building global partnerships to improve our reach and and platforms for interacting with businesses, delivering
leverage local relationships of our partners to accelerate contextual customer experience across their customer
growth. journeys has become a key priority to drive customer
engagement and loyalty.
• The Company’s industry-led IP solutions have garnered
strong resonance with customers, and the team remains • As businesses continue to scale their digital communication,
dedicated to further developing and scaling these driving for that unified experience, it is imperative to focus
solutions. on Customer Data, Personalization, Journey Maps and to
address Business siloed, environments.
• Award-winning portfolio - The capabilities that we
have built over the past years, including customer **Source: Gartner
communication management and data management, are These factors emphasize the expanding scope of technology
what large enterprises are looking for. Our market-leading in enterprises and reinstate rising growth opportunities in the
capabilities in data and analytics, low code, AI, automation, future. With our AI-first strategy, Intense is guided by that road
are enabling us to be a critical partner for our customers. map to help enterprises to build a competitive edge, empowers
• Driving growth going ahead, given cross-sell/up-sell professionals to quickly understand and act on data-driven
opportunities with our long-standing engagements, insights to improve engagement. To remain agile and keep pace
enhancement of product capabilities, adding new clients, with the dynamic technology landscape, we have partnered
and winning large transformational deals with global leading players like AWS, Azure, and IBM and are
engaging with other players in this space.
Market Potential: Gartner Predictions
Awards and Recognitions
• 80% of Executives Think Automation Can Be Applied to
Any Business Decision. One-third of organizations are Your Company continued its quest for excellence in its area
applying AI across several business units. of business to strengthen its position in global markets. In
doing so, several awards and rankings continue to endorse
• 79% of Corporate Strategists See AI and Analytics as
your Company as a thought leader in the industry. Few of the
Critical to Their Success Over the Next Two Years
Awards / recognitions received by the Company during the
• By 2026, as much as 75% of organisations will adopt a year 2022-23 include:
digital transformation model predicated on cloud as the
fundamental underlying platform. Recognitions:
• By 2024, Gartner expects 50% of new system deployments • UniServe™ NXT Digital Suite rated the best, ranked Number
in the cloud will be based on a cohesive cloud data One in Gartner Peer Insights 2022 by customers securing a
ecosystem rather than on manually integrated point 4.7 Rating out of 5.
solutions.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

• Intense Technologies achieves Leader Position in 2023 Training and development

SPARK Matrix for Customer Communications Management
We are committed to providing opportunities to employees
by Quadrant Knowledge Solutions.
for growth and development of their skills, knowledge, and
• Intense Technologies positioned amongst AnyPrem competencies for improved job performance. The competency
Customer Communications Management (CCM) Software development of our employees continues to be a key area of
Leaders for Telecom, Insurance, Public Sector and Utilities strategic focus for us. Keeping in view of the organization’s
verticals in the 2022Aspire CCM-CXM Leaderboard™. strategy, global competition and changing market trends,
• Additionally, Intense Technologies has been recognized as our L&D functions as a consulting partner for organizational
a Leader in two other segments Vendor Hosted SAAS CCM development by coordinating learning requirements with
and Communications Experience Platform (CXP) for the corporate objectives. We operate as a hybrid culture, and
Utilities and Telecom verticals in the same report. training is being imparted to the employees in a hybrid model.
e-learning and gamification have a major role and we have
• Intense Technologies positioned in the 2022 SPARK Matrix adopted and adapted to a culture of self-directed learning
for Customer Communication Management by Quadrant through our LMS, thus combining the best of both Digital and
Knowledge Solutions. Physical Learning.

Material developments in human resources / The focus of our training programs is to create a unique
experience for learners at Intense Technologies Limited that
industrial relations, including the number of
can enhance the relevance and effectiveness of learning.
people employed
We have launched new programs for our employees and
Being a product company, our way of imbibing agility to our
enhanced our training efforts in multiple areas. The past year
culture attracts the best talent as they will be exposed to
saw close to 300 trainings being held for employees across the
immense learning opportunities, key responsibilities, and faster
organization.
career growth.
Our LMS portal combines teaching, hands-on learning
We have the ability to attract and retain high-quality
and assessments of in-class training, so as to provide the
management and technology professionals, and sales personnel
employees with an enhanced learning experience. In addition
globally and at scale.
to the classroom training, the LMS allows the employees to
access the training courses at their convenience and complete
Human capital
the assigned courses from any location, ensuring continuous
Our people are our biggest assets. The products and services learning and enhancing productivity.
we deliver are of the highest standard and have won the trust
Our skill-based program has twin objectives i.e. increasing the
of our customers. We continue our endeavor to bring and
fulfillment of immediate digital skill requirements for client
hone the right talent to advance our business objectives. Our
projects and enriching the expertise of our global workforce in
success depends largely upon our highly skilled technology
next-generation technologies and methodologies.
professionals and our ability to hire, attract, motivate, retain
and train these personnel.
Compensation
We at Intense Technologies are also continuously transforming
Our people receive competitive salaries and benefits. We have
our workforce to digital. The talent management levers help
a performance linked compensation program. At Intense,
us maintain the right digital talent mix, meet self-sufficiency in
the work practices and values all come together to give its
digital areas and better engage and retain our talent.
employees a rewarding experience of working and contributing
As we prepare to thrive in the future, the new workplace here. In addition to the standard compensation and benefits,
will be a hybrid one with distributed teams becoming more we strive to offer diverse career experiences and platforms for
prominent. We expect that the change in the workplace will creative contributions as well.
encourage different workforce models that will help us connect,
While we have not been immune to the impact of ‘The Great
collaborate, and create a culture of effective engagement, well-
Resignation’ we have made necessary adjustments, significantly
being, and productivity.
increasing wages to attract and retain exceptional talent. We
have strengthened our internal processes, invested strongly in
Recruitment
our people, leadership, and technology innovation to accelerate
Our recruitment process is very stringent. We have built our growth, which has further added to our cost structure.
talent pool by recruiting students from reputed universities
and colleges across India. We have also recruited experienced,
local sales and operational talent in UK and MEA regions. Our
rigorous selection process involves aptitude tests, technical and
HR interviews to identify the right talent. The selection process
continuously evolves to include new methods.
We constantly attract and hire leaders and middle management
across the globe across various new age and modern
technologies.

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Financial overview
Revenue from operations
The Standalone revenue from operations increased to ` 86.08 Crs in FY 2022-23 from ` 80.02 Crs in FY 2021-22. The increase in
turnover by 7.57% was made possible with a suitable business strategy.
The Consolidated revenue of the Company in FY 2022-23, having gone up to ` 90.60 Crs in the year from ` 83.00 Crs by 9.16%
of the previous year.
Profit after Tax
The Standalone profit after tax decreased to ` 9.53 Crs in the FY 2022-23 as against ` 15.64 Crs in the previous year. The
company has invested in new talent for enabling new segments of Services such as Cloud Services. These investments will yield
results in the coming years.
Financial Highlights
(` In Crs)
Standalone Consolidated
Particulars % Increase/ % Increase/
2022-23 2021-22 2022-23 2021-22
(Decrease) (Decrease)
Sales 86.08 80.02 7.57% 90.60 83.00 9.16%
Other Income 1.24 0.89 39.33% 1.24 0.96 29.17%
Expenditure 75.03 60.16 24.72% 74.99 59.70 25.61%
Employee Cost 41.40 37.49 10.43% 45.66 41.21 10.80%
EBITDA 14.06 22.17 -36.58% 18.63 25.69 -27.48%
PBT 12.29 20.75 -40.77% 16.85 24.26 -30.54%
PAT 9.53 15.64 -39.07% 13.75 19.07 -27.90%
Basic EPS ` 4.06 6.96 -41.67% 5.86 8.49 -30.98%
Diluted EPS ` 4.06 6.96 -41.67% 5.86 8.49 -30.91%

Future outlook
Technology is transforming businesses in every industry around the world. In the past year and 2023, we saw emerging
technologies, like generative AI, 5G, Low Code No Code, shape the future of industries.
Intense offers a comprehensive range of capabilities that enable our customers to gain a competitive edge. Our strategy
revolves around uniting domains, products, services, and partners to craft tailored solutions that yield optimal business
outcomes.
Our approach involves harnessing domain expertise, cutting-edge technologies, strategic partnerships, and hyperscalers drive
value for our clients.
Central to our ethos is cultivating enduring client relationships rooted in shared visions and outcomes. We forge these
connections through a well-governed, co-managed engagement process. In the realm of IT Services, we offer a spectrum of
solutions, encompassing custom application development, re-engineering, cloud services, talent services, managed services and
data analytics.
In our IT Products division, our award-winning CCM solution is evolving with marketing automation, and campaign
management. Rather than standalone products, these offerings synergize with our IT services portfolio to enhance client
solutions.
As we chart our path forward, we remain focused on services and digital engagements. We approach System Integration (SI)
engagements selectively, directing our resources toward opportunities where we can create the most impactful outcomes.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

CORPORATE

GOVERNANCE REPORT
The Board of Directors of the Company have pleasure in Corporate Governance is essential for achieving long-term
presenting the Company’s Report on Corporate Governance corporate goals and enhancing stakeholders’ value. In this
for the Financial Year 2022-23 in pursuant to Regulation 34(3) pursuit, the Company’s Corporate Governance philosophy
read with Schedule V and other applicable provisions of the is to ensure fairness, transparency, and integrity of the
Securities and Exchange Board of India (Listing Obligations management, in order to protect the interests of all its
and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing stakeholders.
Regulation’).
Your Company continues to strengthen its governance
1. Company’s philosophy on code of governance: principles to generate long-term value for its various
The Company’s philosophy on corporate governance stakeholders on a sustainable basis thus ensuring ethical
oversees business strategies and ensures fiscal and responsible leadership both at the Board and at the
accountability, ethical corporate behavior and fairness Management levels.
to all stakeholders comprising regulators, employees,
Your Company’s Corporate Governance Framework
customers, vendors, investors, and the society at large.
ensures that making timely disclosures and share accurate
The Company has over the years followed the best practices information regarding the financial and performance, as
of Corporate Governance. Your Company is committed to well as the leadership and governance of the Company.
the Company’s Code of Conduct which articulates values
The Company has a strong legacy of fair, transparent, and
and ideals that guide and govern the conduct of the
ethical governance practices. Your Company has adopted
company as well as its employees in all matters relating to
a Code of Conduct for its employees including the
business. The Company’s overall governance framework,
Managing Director, all Executive Directors as well as for its
systems and processes reflect and support our Mission,
Non-Executive Directors including Independent Directors
Vision, and Values.
which suitably incorporates the duties of Independent
The Company’s Corporate Governance philosophy Directors as laid down in the Companies Act, 2013 (‘the
has been further strengthened through the Intense Act’). The Company has also adopted the Guidelines on
Technologies Code of Conduct for Prevention of Insider Board Effectiveness to fulfill its responsibilities towards its
Trading and the Code of Corporate Disclosure Practices stakeholders.
(“Insider Trading Code”).
Your Company has adhered to the requirements stipulated
Your Company has a strong legacy of fair, transparent, under Regulations 17 to 27 read with para C and D of
and ethical governance practices and it believes that good Schedule V and clauses (b) to (i) of sub-regulation (2) of

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 Regulation 46 of SEBI (Listing Obligations and Disclosure Committees of the Board constituted under the Companies
Requirements) Regulations, 2015 (‘Listing Regulations’) Act, 2013 and SEBI (Listing Obligations & Disclosure
as applicable [including notifications and/or circulars by Requirements) Regulations 2015 as amended from time to
Ministry of Corporate Affairs (MCA) and Securities and time.
Exchange Board of India (SEBI) in the wake of COVID-19], Board Leadership:
with regard to Corporate Governance and the same has An enlightened Board consciously creates a culture
been disclosed in this Report. The Company endeavours of leadership to provide a long-term vision and policy
to ensure that highest standards of ethical and responsible approach to improve the quality of governance. The Board’s
conduct are met throughout the organisation. actions and decisions are aligned with the Company’s
Transparency and accountability are the two basic best interests. It is committed to the goal of sustainably
requirements of Corporate Governance. Responsible elevating the Company’s value creation. Your Company
Corporate conduct is integral to the way the Company has defined guidelines and an established framework for
do the business. The actions are governed by the values the meetings of the Board and its Committees. These
and principles which are reinforced at all levels in your guidelines seek to methodize the decision making process
Company. The code of business is reflected in the at the meeting of the Board and its Committees in an
continued commitments to ethical business practices informed and efficient manner.
across the dealings. The Board critically evaluates your Company’s strategic
Your Company firmly believes that Board independence direction, management policies and their effectiveness.
is essential to bring objectivity and transparency in the The agenda for the Board reviews include strategic review
management and in the dealings of your Company. As on from each of the Board committees, a detailed analysis
March 31, 2023, the Board consists of eight (8) members and review of annual strategic and operating plans and
out of which one (1) is Executive Chairman and Managing capital allocation and budgets. Additionally, the Board
Director, two (2) are Executive/Whole-time Directors, one reviews related party transactions if any, possible risks
(1) is Non-Executive Non-Independent Director and four and risk mitigation measures, financial reports from the
(4) are Non-Executive Independent Directors. Executive Directors. Frequent and detailed interaction sets
the agenda and provides the strategic roadmap for the
Ethics/Governance Policies: Company’s future growth.
Your company has adopted a set of policies and Codes and
ensure that the business of your company is carried out in As the COVID-19 pandemic continues to disrupt every
line with its core value systems. Your Company strives to aspect of Business resulting in strained supply chains,
conduct the business and strengthen the relationship in a liquidity concerns, financial strains, absent employees, a
manner that is dignified, distinctive and responsible. Your move to remote working: the list of operating challenges
Company adhere to ethical standards to ensure integrity, seems endless. Your Company Board has taken a highly
transparency, independence and accountability in dealing active oversight role ensuring the company operations are
with stakeholders. Therefore, your Company have adopted carried out efficiently during the global pandemic.
various codes and policies to carry out business in an 2. Board of Directors:
ethical manner. Some of these codes and policies are:
• Code of Conduct & Ethics for Board & Senior Composition and category of Directors
Management The Board of your company bears the ultimate responsibility
• Code of Conduct for Fair Disclosure of Unpublished for the organization and administration of your company.
Price Sensitive Information It is vital to have a well-balanced Board with a combination
• Code of Conduct to Regulate, Monitor & Report of Executive, Non-Executive and Independent, Woman
Trading by Insiders Directors on the Board of the Company to ensure Board’s
independence and effective management. As on 31st
• Policy on Related Party Transactions
March 2023 the Company has eight Directors. Out of the
• Corporate Social Responsibility Policy
eight Directors five are Non-Executive Directors out of
• Sustainability Policy
which 4 are Independent Directors. The composition of
• Nomination & Remuneration Policy the Board is in conformity with Regulation 17 of the SEBI
• Board Evaluation Framework Listing Regulations read with Section 149 of the Act. The
• Familiarisation Programme for Independent Directors Board periodically evaluates the need for change in its
• Policy on Preservation of Documents composition and size.
• Whistle Blower Policy
• Policy on Determination of Materiality of Events None of the Directors on the Board holds directorships in
• Business Responsibility Policy more than ten public companies. None of the Independent
Directors serves as an independent director on more than
Appropriate Governance Structure with defined roles seven listed entities. Necessary disclosures regarding
and responsibilities: Committee positions in other public companies as on 31st
Your Company has put in place an internal management March 2023 have been made by the Directors. None of the
structure with defined roles and responsibilities of every Directors are related to each other except Mr. C K Shastri
constituent of the system. The Company’s shareholders and Ms. C. Anisha Shastri .
appoint the Board of Directors, which in turn governs the
Company. The Board has constituted five Committees Independent Directors are non-executive directors as
to discharge its responsibilities in an effective manner. defined under Regulation 16(1) (b) of the SEBI Listing
The Company Secretary acts as the Secretary to all the Regulations read with Section 149(6) of the Act along with
rules framed there under. In terms of Regulation 25(8) of

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

SEBI Listing Regulations, declarations were received from Number of

the Independent Directors and the Board of Directors has memberships /
confirmed that all the independent Directors meet the No of chairmanships in Name of
criteria of independence as mentioned under Regulation Directorships Audit / Stakeholder the other
Category of
Name of the in listed listed
16(1)(b) of the SEBI Listing Regulations and that they are Director entities Committee(s) Company
Directorship
independent of the management. including this including this listed as on 31-
listed entity 03-2023
entity
The Company has an active, experienced, diverse and a
well-informed Board. The Board along with its Committees Chairman Member

undertakes its fiduciary duties keeping in mind the Mr. C.K. -

interests of all its stakeholders and the Company’s Shastri
1 - - -
Corporate Governance philosophy. The Nomination and Mr. Jayant
Remuneration Committee of the Board ensures the right Dwarkanath
1 - - - -
composition of the Board. As on March 31, 2023, the
Ms. C. Anisha
composition of the Board of Directors was as under: Shastri
1 - - - -

Mr. Tikam
1 - - - -
Sujan
Mrs. V.
Sarada Devi
1 - 2 - -

Mr. P. Pavan
Kumar
1 - - - -

Mr. K. S.
Shanker Rao
1 1 2 - -

Mr. V. S.
1 1 2 - -
Mallick

Note:
• The directorships held by directors as mentioned
The composition of the Board of Directors of the above, does not include directorships in Foreign
Company is in conformity with Regulation 17 of the Listing Companies.
Regulations and Section 149 of the Act. • In accordance with Regulation 26 of the Listing
Attendance of each Director at the meeting of the Board Regulations, Membership(s) / Chairmanship(s) of only
of Directors and last Annual General Meeting: Audit Committees and Stakeholders’ Relationship
Committees in all Public Limited Companies have
Attendance at Whether been considered.
Board Meetings present
Name of
Director
Category at the Number of shares held by the directors as on 31st March,
previous 2023:
Held Attended AGM

No of eq-
Mr. C.K. Shastri Chairman & 6 6 Y Name Category
Managing Director uity shares
Mr. Jayant Whole Time 6 6 Y Mr. C.K. Shastri Promoter 17,28,592
Dwarkanath Director
Mr. Tikam Sujan Promoter 22,37,642
Ms. C. Anisha Whole time 6 6 Y
Shastri Director Ms. C. Anisha Shastri Promoter Group 726
Mr. Tikam Sujan Non-Executive- 6 1 N Mr. Jayant Dwarkanath - 12,95,635
Non Independent
Director Roles, Responsibilities and Duties of the Board:
The duties of Board of Directors have been enumerated
Mrs. V. Sarada Non-Executive- 6 6 Y
Devi Independent in Listing Regulations, Section 166 of the Companies Act,
Woman Director 2013 read with the rules and Schedule IV of the said Act.
The Board has complete access to all the information
Mr. P. Pavan Non-Executive- 6 6 N
Kumar Independent
within the Company. As a part of its function, the Board
Director periodically reviews all the relevant information, which is
required to be placed before it, pursuant to the SEBI Listing
Mr. K. S. Shanker Independent Non- 6 6 Y
Rao Executive
Regulations, and, in particular, reviews and approves
financial statements, business plans, projects, strategies,
Mr. V. S. Mallick Non-Executive- 6 6 Y annual budgets, projects and capital expenditure. The
Independent
Director Board discharges all its responsibilities, functions,
duties and obligations in timely and effective manner in
Name and number of other board of directors or accordance with applicable laws, keeping close watch on
committees in which a director is a member or the business operations of the Company.
chairperson, and:

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 Board Meeting Meetings held on
No of
During the year, the Board met six (6) times on 30th May, Name of
Director
May August November February February March Meetings
30, 13, 14, 2022 10, 2023 22, 2023 07,
2022, 13th August, 2022, 14th November, 2022,10th February, 2022 2022 2023
Attended

2023, 22nd February, 2023, and 07th March, 2023. All Mr. Jayant
material information was circulated to the directors before Dwarkanath,
Y Y Y Y Y Y 6
Whole-time
the meeting or placed at the meeting. The necessary Director
quorum was present for all the meetings. The maximum Ms. C.
gap between any two Board Meetings was less than one Anisha
Shastri, Y Y Y Y Y Y 6
hundred and twenty days. Whole-time
Director
During the year, a separate meeting of the Independent Mr. Tikam
Directors was held on 30th May, 2022 without the Sujan,
attendance of non-independent directors and members of Non- N N N N N Y 1
Executive
the management. All Independent Directors attended the Director
said meeting by participating through video conferencing/ Mrs. V.
other audio visual means. Sarada Devi,
Non-
Y Y Y Y Y Y 6
The Company has proper online systems to enable the Executive
Independent
Board to review on a half yearly basis compliance reports Woman
of all laws applicable to the Company, as prepared by Director
Mr. P. Pavan
the Company as well as to assess the steps taken by the Kumar,
Company to rectify instances of non-compliances, if any. Non- Y Y Y Y Y Y 6
Executive
Agenda and relevant information to Directors: Independent
Director
The agenda for each Board/ Committee meeting is Mr. K. S.
Shanker
circulated well in advance to the Directors. All material Rao,
information is incorporated in the agenda facilitating Non- Y Y Y Y Y Y 6
meaningful and focused discussions in the meeting. Every Executive
Independent
Board/ Committee Member is free to suggest items for Director
inclusion in the agenda. The agendas and other relevant Mr. V. S.
Mallick, Non-
documents/ information to Board/ Committee members Executive Y Y Y Y Y Y 6
are provided in secured electronic mode. Independent
Director
Matters of the Meetings: Independent Directors
All divisions / departments of the Company are advised The Company currently has 4 Non-Executive Independent
to schedule their work plans in advance, particularly with Directors which comprise 50% of the total strength of the
regard to matters requiring discussion/ approval/ decision Board of Directors.
of the Board meetings. All such matters are communicated Selection of Independent Directors:
to the Company Secretary in advance so that the same Considering the requirement of skill sets on the Board,
could be included in the Agenda for the Board/ Committee eminent people having an independent standing in
meetings. their respective field/profession and who can effectively
contribute to the Company’s business and policy decisions
Presentations by management: are considered by the Nomination and Remuneration
Committee for appointment as Independent Director
The Chief Financial Officer and Company Secretary and on the Board. The Committee, inter alia, considers
Head of the Departments (HODs) (on case-to-case basis), qualification positive attributes, area of expertise and
updates the Board on their related matters through number of Directorships and Memberships held in various
presentations / Board notes. Such presentations and committees of other Companies by such persons in
Board notes cover finance, sales, major business segments accordance with the Company’s Policy for Selection of
and operations of the Company, including business Directors and determining Directors’ independence. The
Board considers the Committee’s recommendation, and
opportunities, business strategy and risk management
takes appropriate decision.
practices, internal audit observations, regulatory changes
and their probable impact on the operations of the Independence of Directors
Company. The Company has received declaration from the
Independent Directors confirming that they meet the
Attendance at the Board Meetings held during the year criteria of independence as prescribed under Section
149(6) of the Act read with Regulation 16(1)(b) of the
Meetings held on
No of Listing Regulations. In terms of Regulation 25(8) of the
Name of
Director
May
30,
August
13,
November
14, 2022
February
10, 2023
February
22, 2023
March
07,
Meetings Listing Regulations, the Independent Directors have
2022 2022 2023
Attended confirmed that they are not aware of any circumstances
Mr. C.K. or situations which exist or may be reasonably anticipated
Shastri, that could impair or impact their ability to discharge their
Chairman & Y Y Y Y Y Y 6 duties.
Managing
Director In the opinion of the Board, the Independent Directors
fulfil the conditions of independence specified in the Act
and the Listing Regulations and are independent of the
management.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Further, the Independent Directors of the Company Pursuant to Regulation 46 of the Listing Regulations, the
have undertaken requisite steps towards the inclusion of details of such familiarisation programme are available on
their names in the data bank of Independent Directors the website of the Company at www.in10stech.com
maintained with the Indian Institute of Corporate Affairs
in terms of Section 150 of the Act read with Rule 6 of the Skills/Expertise/Competencies of the Board of Directors.
Companies (Appointment & Qualification of Directors) The Directors of your Company comprise of qualified
Rules, 2014. individuals who collectively possess the skills,
competencies, and experience across diverse fields that
Meetings of Independent Directors: enable them to make effective contributions to the Board
Pursuant to Schedule IV of the Companies Act, 2013 & and its Committees.
Rules made there under and SEBI (Listing Obligations
& Disclosure Requirements) Regulations, 2015 as The following is the list of core skills/expertise/
amended from time to time, the independent directors competencies identified by the Board of Directors as
of the Company shall hold at least one meeting in a year, required in the context of the Company’s business (es)
without the attendance of non-independent directors and for it to function effectively and those available with the
members of the Management. The meeting shall review the Board as a whole.
performance of non-independent directors and the Board
as a whole; review the performance of the Chairperson of i. Sales & Marketing: Experience in sales and marketing
the Board, taking into account the views of the executive management based on understanding of the
directors and non-executive directors; assess the quality, consumer & consumer goods industry, developing
quantity and timeliness of flow of information between strategies to grow sales and market share, build brand
the Management and the board that is necessary for it to awareness, equity and enhance enterprise reputation.
effectively and reasonably perform its duties.
ii. General management/Governance and Compliance:
During the year under review, one meeting of the
Service on a company board to develop insights about
Independent Directors of the Company was held on May
maintaining board and management accountability,
30, 2022, as required under Schedule IV of the Act (Code of
strategic thinking, decision making, protecting
Independent Directors) and Regulation 25(3) of the Listing
shareholder interests, and observing appropriate
Regulations. At their Meeting, the Independent Directors
governance practices. Ability to identify key risks to
reviewed the performance of Non-Independent Directors
the organisation in a wide range of areas including
and the Board as a whole, Chairperson (as elected by the
legal and regulatory compliance and monitor risk and
Board for each meeting of the Board of Directors) along
compliance management frameworks and systems.
with the Executive Directors and Non-Executive Directors;
and also assessed the quality, quantity and timeliness of iii. Financial skills: Understanding the financial
flow of information between the Company’s management statements, financial controls, risk management,
and the Board that is necessary for the Board to effectively mergers and acquisition, etc. Management of
and reasonably perform their duties. The Meeting was the finance function of an enterprise, resulting in
attended by all the Independent Directors. proficiency in complex financial management, capital
Terms and Conditions of appointment of Independent allocation, and financial reporting processes, or
Directors experience in actively supervising a financial officer,
All the Independent Directors of the Company have been accounting officer, controller, auditor or person
appointed as per the provisions of the Act and the Listing performing similar functions
Regulations. Formal letters of appointment are issued iv. Technical and professional skills/ Policy
to the Independent Directors after their appointment by Development: Ability to identify key issues and
the Members. As required by Regulation 46 of the Listing opportunities for the Company within the industry and
Regulations, the terms and conditions of their appointment develop appropriate policies to define the parameters
have been disclosed on the website of the Company at within which the organisation should operate and
www.in10stech.com knowledge including legal and regulatory aspects.
Familiarisation programmes for Board Members v. Operational Skill/ Strategy planning, Mergers and
The Company has a familiarisation programme for its
Independent Directors. The objective of the programme is Acquisitions: Experience in operating and managing
to familiarise the Independent Directors to enable them of business. Ability to think strategically and identify
to understand the Company, its operations, strategies, and critically assess strategic opportunities and
business, functions, policies, industry and environment threats and develop effective strategies in the context
in which it functions and the regulatory environment of the strategic objectives of the Company’s relevant
applicable to it and operations of its subsidiaries. These policies and priorities. Leading growth through
include orientation programme upon induction of new acquisitions and other business combinations, with
Directors as well as other initiatives to update the Directors
on a continuous basis. the ability to assess ‘build or buy’ decisions, analyze
the fit of a target with the Company’s strategy and
Pursuant to Regulation 25(7) of the Listing Regulations, culture, accurately value transactions, and evaluate
the Company imparted various familiarisation programmes operational integration plan.
to its Directors including review of long-term strategy,
industry outlook, regulatory updates at the Board and Audit vi. Leadership: Extended leadership experience for
Committee Meetings, Corporate Social Responsibility and a significant enterprise, resulting in a practical
Litigation updates. The Directors are also kept continuously understanding of organizations, processes, strategic
updated by regularly sharing various useful articles relating planning, and risk management. Demonstrated
to the Company’s performance, operations, its market and strengths in developing talent, planning succession,
competition on the Board Application. and driving change and long-term growth. Oversee

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 strategic human resource management including workforce planning, employee and industrial relations and oversee
large scale organisational change.
vii. Information Technology: A significant background in technology, resulting in knowledge of how to anticipate
technological trends, generate disruptive innovation, and extend or create new business models. Knowledge and
experience in the strategic use and governance of information management and information technology within the
organisation.
viii. International Business: Knowledge of and experience in companies with operations outside of India.
Given below is a list of core skills, expertise and competencies of the individual Directors:

Given below is a list of core skills, expertise and competencies of the individual Directors:
Area of Expertise

Strategy
Director Leadership Governance
Policy Information planning, Sales & International
Financial and
Development Technology Mergers and Marketing Business
Compliance
Acquisitions

Mr. C.K. Shastri a a a a a a a a

Mr. Jayant
a a a a a a a a
Dwarkanath
Ms. C. Anisha Shastri a a a a a a a
Mr. Tikam Sujan a a a a a
Mrs. V. Sarada Devi a a
Mr. P. Pavan Kumar a a a a
Mr. K. S. Shanker Rao a a a a
Mr. V. S. Mallick a a a a a
These skills/competencies are broad-based, encompassing several areas of expertise/ experience. Each Director may possess
varied combinations of skills/experience within the described set of parameters, and it is not necessary that all Directors
possess all skills/experience listed therein.
Policy for Prevention of Insider Trading
The Company has adopted a Policy for Prohibition of Insider Trading (‘Policy/Code”) for Regulating, Monitoring and Reporting
of Trades by Designated Persons’ (“the Code”) in accordance with the SEBI (Prohibition of Insider Trading) Regulations,
2015 (The PIT Regulations). The Policy is applicable to Promoters, Member of Promoter’s Group, all Directors, designated
persons and third parties such as auditors, consultants etc. who are expected to have access to unpublished price sensitive
information relating to the Company. The trading window is closed from the first day of the every quarter and will open after
the 48 hours of the declaration of financial results and occurrence of any material events as per the code.
Appointment/Re-appointment of Directors
As required under Regulation 26(4) and Regulation 36(3) of the Listing Regulations and Secretarial Standards - 2 on General
Meetings issued by Institute of Company Secretaries of India, particulars of Directors seeking appointment/ re-appointment
at this AGM are given in the Notice of the AGM which forms part of this Annual Report.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

3. Committees of the Board • Recommend to the Board, the appointment, re-

There are four statutory Board Committees as on 31st appointment, removal of the external auditors,
March, 2023 and the quorum for committee meetings is fixation of audit fees and also approval for payment
as per the Companies Act and SEBI Listing Regulations. of audit and non-audit services;
A. Audit Committee • Scrutinise inter-corporate loans and investments,
and review the utilisation of loans and/or advances
B. Nomination & Remuneration Committee
from/investment by the holding company in the
C. Stakeholders Relationship Committee subsidiary;
D. Corporate Social Responsibility Committee • Reviewing the adequacy of internal control system,
E. Risk Management Committee internal audit function and risk management
function;
The quorum for committee meetings is either two
members or one-third of the members of the committee, • Discussion with internal auditors of any significant
whichever is higher with at least one Independent Director. findings and follow up thereon;
The Company Secretary of the company is acting as the • Provide guidance to the Compliance Officer for
Secretary in each Committee. setting forth policies and implementation of the
Intense Code of Conduct for Prevention of Insider
A. AUDIT COMMITTEE Trading. Reviewing compliance with the provisions
The Audit Committee is constituted in line with the of SEBI (Prohibition of Insider Trading) Regulations,
provisions of Regulation 18 of SEBI Listing Regulations and 2015, atleast once in a financial year and verifying
Section 177 of the Companies Act, 2013 as amended from that the systems for Internal Controls are adequate
time to time. The Audit Committee meetings were held and are operating effectively;
four times during the financial year 2022-23 i.e., on 30th
May, 2022, 13th August, 2022, 14th November, 2022 and 10th • Review the significant related party transactions;
February 2023. • Valuation of undertakings or assets of the listed
entity, wherever it is necessary;
The Audit Committee’s role is to assist the Board fulfill
its Corporate Governance and overseeing responsibilities • Reviewing the findings of any internal investigations
in relation to the Company’s financial reporting process by the internal auditors into matters where there is
carried out by the Management, internal control system, suspected fraud or irregularity or a failure of internal
risk management system and internal and external audit control systems of a material nature and reporting
functions. The Audit Committee functions according to its the matter to the Board;
Charter/Terms of Reference that defines its composition, • Approve the appointment of the Chief Financial
authority, responsibilities and reporting functions. The Officer after assessing the qualifications, experience
Board has adopted a Charter of the Audit Committee for and background of the candidate;
its functioning. All the items listed in Section 177 of the Act • Carrying out any other function as is mentioned in
and Regulation 18(3) read with Part C of Schedule II of the the terms of reference of the Audit Committee.
Listing Regulations are covered in its terms of reference.
Further pursuant to Regulation 18(2)(c) of the Listing
Terms of reference Regulations, the Audit Committee is empowered to
The Audit Committee of the Company is responsible for investigate any activity within its terms of reference, seek
supervising the Company’s internal controls and financial information it requires from any employee, obtain outside
reporting process and inter alia, performs the following legal or other Independent professional advice and
functions: secure attendance of outsiders with relevant expertise,
• Oversight of the Company’s financial reporting if considered necessary. Apart from the above, the Audit
process and disclosure of its financial information; Committee also exercises the role and powers entrusted
• Review of the Company’s accounting policies, upon it by the Board of Directors from time to time.
internal accounting controls, financial and such other
matters;
• Review the functioning of Whistleblower Mechanism
of the Company which shall include the Vigil
Mechanism for Directors and employees to report
genuine concerns in the prescribed manner;
• Discuss and review, with the management and
auditors, the annual/quarterly Financial Statements
before submission to the Board;
• Hold timely discussions with external auditors
regarding critical accounting policies and practices,
significant reporting issues and judgements made,
nature and scope of audit;
• Evaluate auditors’ performance, qualification,
independence and effectiveness of audit process;

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 Composition/Meetings of the Committee as on March 31, 2023:

No. of Meetings
Name Category
Designation Held Attend
Mr. K. S. Shanker Rao Non-Executive Independent Director Chairman 4 4
Mr V.S. Mallick Non-Executive Independent Director Member 4 4
Mrs. V. Sarada Devi Non-Executive Independent Director Member 4 4

Mr. K. S. Shanker Rao, Chairperson of the Audit Committee • Identify persons who are qualified to become
is a chartered civil engineer and a fellow of the Indian directors and who may be appointed in senior
Institute of Engineers. He has vast experience on management in accordance with the criteria laid
construction of mega projects dealing with all disciplines down and recommend to the Board of Directors
of project management including industrial relations and their appointment and removal;
HRD. He also has wide experience in arbitration matters.
• Formulate the criteria for determining qualifications,
All Members of the Audit Committee are financially literate.
positive attributes and independence of a Director
Mr Madhukar H Nayak, Chief Financial Officer of the and recommend to the Board a policy, relating to
Company is the permanent invitee and Statutory the remuneration of the Directors, Key Managerial
Auditor and Internal Auditors are also invited to the Personnel (‘KMP’) and other employees;
Audit Committee Meeting and Company Secretary &
• Support the Board and Independent Directors, as
Compliance Officer of the Company acts as the Secretary
may be required, in evaluation of the performance of
to the Committee.
the Board, its Committees and Individual Directors;
The composition of the Committee is in conformity with
• Formulate criteria for evaluation of Directors and
Section 177 of the Act and Regulation 18(1) of the Listing
the Board;
Regulations. The Chairperson of the Audit Committee has
one on one meetings both with the Internal Auditor and • Recommend to the Board, the appointment or
the Statutory Auditors to discuss key concerns on periodic removal of KMP and executive team members;
basis. The Managing Director, COO, Executive Director,
Chief Financial Officer, Statutory Auditor and Internal • Whether to extend or continue the term of
Auditor attend and participate in all the Meetings of the appointment of the Independent Director, on the
Committee. The Committee, from time to time, also invites basis of the report of performance evaluation of
such of the executives, as it considers appropriate, to be Independent Directors;
present at the Meetings. • On an annual basis, recommend to the Board
B. NOMINATION AND REMUNERATION COMMITTEE the remuneration payable to Directors, KMP and
The Committee is constituted in line with the provisions of executive team members of the Company;
Regulation 19 of SEBI Listing Regulations and Section 178 • Devise a policy on Board diversity;
of the Act. The Nomination & Remuneration Committee
meeting was held once during the financial year 2022-23 • Recommend to the Board the appointment or re-
i.e. on 30th May 2023. appointment of Directors;

The role of the Nomination and Remuneration Committee • Review matters related to remuneration and
(‘NRC’) is to oversee the selection of Directors and Senior benefits payable upon retirement and severance to
Management Personnel based on criteria related to the the Managing Director/Executive Director(s), KMP
specific requirement of expertise and independence. and executive team members;
The NRC evaluates the performance of Directors and • Assist the Board in fulfilling its corporate governance
Senior Management Personnel based on the expected responsibilities relating to remuneration of Board,
performance criteria. NRC also recommends to the KMP and executive team members;
Board the remuneration payable to Directors and Senior
Management Personnel of the Company. • Oversee familiarization programmes for Directors;
Terms of reference • Review people strategy and its alignment with the
The Board has adopted a charter of the NRC for its smooth business strategy periodically or when a change is
functioning covering aspects relating to composition, made to either;
responsibilities, evaluation process, remuneration, Board • Provide guidelines for remuneration of Directors on
development and also for reviewing strategies. The key material subsidiaries;
terms of reference of the NRC, inter alia, are:
• Perform other activities related to the charter as
The terms of reference of the Nomination & Remuneration requested by the Board from time to time
Committee is as follows:
Composition/Meetings of the Committee as on March 31,
• Make recommendations to the Board regarding the 2023: The composition and terms of reference of the NRC
setup and composition of the Board; are in compliance with the provisions of Section 178(1) of
the Act and Regulation 19 of the Listing Regulations.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

No. of Meetings
Name Category Designation
Held Attend
Mr. K. S. Shanker Rao Non-Executive Independent Director Chairman 1 1
Mr V.S. Mallick Non-Executive Independent Director Member 1 1
Mrs. V. Sarada Devi Non-Executive Independent Director Member 1 1
Mr. K. S. Shanker Rao, is the Chairperson of the NRC and was present at the last AGM held on September 21, 2022. Mr.
Madhukar H Nayak, Chief Financial Officer of the Company is the invitee to the Nomination & Remuneration Committee
Meeting and Company Secretary & Compliance Officer of the Company acts as the Secretary to the Committee.
Nomination/Remuneration Policy:
The compensation of the Executive Directors comprises of fixed component, perquisites and performance based incentive and
is determined based on the remuneration prevailing in the industry and the performance of the Company. The remuneration
of the Executive Directors is periodically reviewed and suitable revision is recommended to the Board by the Nomination and
Remuneration Committee. The Board shall recommend the same for the approval of the Shareholders. The nomination and
remuneration policy as adopted by the Board is placed on the Company’s website. https://in10stech.com/investors/policies
Board and Director Evaluation:
One of the key functions of the Committee is to monitor and review the board evaluation framework. Your Board is committed
to assessing its own performance as a Board in order to identify its strengths and areas in which it may improve its functioning.
In terms of the requirement of the Act and the Listing Regulations, during the year under review, the Board has carried out an
annual performance evaluation of its own performance, performance of the Directors as well as the evaluation of the working
of its Committees. The exercise was led by the Chairman of the NRC along with the Chairman elected for each Meeting of
the Board.
Criteria for Evaluation
The Board of Directors has carried out an annual evaluation of its own performance, its committees and Directors pursuant
to the provisions of the Act and the Corporate Governance requirements as prescribed by the Listing Regulations. The
performance of the Board was evaluated after seeking inputs from all the Directors on the basis of criteria such as the board
composition and structure, effectiveness of board processes, information and functioning, etc. as provided by the Guidance
Note on Board Evaluation issued by SEBI.
The NRC has defined the evaluation criteria, procedure and time schedule for the performance evaluation process of the
Board, its Committees and Directors. The criteria for Board Evaluation was based on the Guidance Note issued by SEBI which,
inter alia, included questions on the following:

Board Evaluation Evaluation of Individual Directors Committee Evaluation

• Board Structure - qualifications, • Professional qualifications and • Mandate and composition
experience and competencies experience • Effectiveness of the
• Board Diversity • Knowledge, skills and competencies Committee
• Meetings – regularity, frequency, agenda, • Fulfillment of functions, ability to • Structure of the Committee
discussion and recording of minutes function as a team Meetings – regularity,
frequency, agenda,
• Functions – strategy, governance, • Attendance
discussion and dissent,
compliances, evaluation of risks, • Commitment, contribution, integrity
recording of minutes
stakeholder value and responsibility, and independence
conflict of interest, review of TBEM • Independence of the
findings and monitoring action plans In addition to the above, the Chairperson Committee from the
of the Board Meetings is also evaluated Board and contribution to
• Independence of management from the on key aspects of his role, including effec-
decisions of the Board
Board, access of Board and management tiveness of leadership and ability to steer
to each other Succession plan and Meetings, impartiality and ability to keep
professional development shareholders’ interests in mind.
The Company has followed the practice of implementing each of the observations from the annual evaluation by calendarizing
its implementation through the Action Taken Report which is reviewed by the Board of Directors from time to time.
The procedure followed for the performance evaluation of the Board, Committees and Individual Directors is detailed in the
Board’s Report.
Remuneration to Directors
The Nomination and Remuneration Committee determines and recommends to the Board the compensation payable to
director(s). All Board-level compensation shall be approved by the shareholders and disclosed separately in the financial
statements.

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 The compensation payable to the Independent/ Non-Executive Directors is limited to sitting fees and reimbursement of
actual conveyance, travelling and other expenses for attending the Board & Committee meeting(s), as approved by the Board
& shareholders, as per the provisions of the Companies Act, 2013 and SEBI (Listing Obligations & Disclosure Requirements)
Regulations, 2015 as amended from time to time.
There is no pecuniary relationship or transactions between the company and Non-Executive directors except the sitting fees
they are getting for attending the board/committee meeting and dividend on shares held by him/her.
The Non-Executive Directors are paid remuneration by way of Sitting Fees and reimbursement of actual expenses for
attending the Board/ Committee Meeting. The Non-Executive Directors/ Independent Directors do not have any material
pecuniary relationship or transactions with the Company.
The Details of remuneration paid/payable for the year ended March 31, 2023, is as follows:

Name Sitting Fees Remuneration Perquisites Commission Total

Independent Directors
Mrs. V. Sarada Devi 3,00,000 - - - 3,00,000
Mr. P. Pavan Kumar 30,000 - - - 30,000
Mr. K. S. Shanker Rao 3,00,000 - - - 3,00,000
Mr. V. S. Mallick 3,00,000 - - - 3,00,000
Non-Executive Directors
Mr. Tikam Sujan Nil - - - Nil
Executive Directors (CMD)
Mr. C.K. Shastri Nil 82,65,000 83,44,930 1,66,09,930
Whole-time Directors
Mr. Jayant Dwarkanath Nil 82,65,000 83,44,930 1,66,09,930
Ms. C. Anisha Shastri Nil 34,70,200 83,44,930 1,18,24,130
Succession Plan
The Company believes that sound succession plans for the senior leadership are very important for creating a robust future
for the Company and strives to maintain an appropriate balance of skills and experience, within the organization and the
Board, in an endeavor to introduce new perspectives, whilst maintaining experience and continuity. The Nomination and
Remuneration Committee works along with the Management team of the Company for a structured leadership succession
plan.
C. STAKEHOLDERS RELATIONSHIP COMMITTEE
The Stakeholders Relationship Committee (‘SRC’) Committee is constituted in line with the provisions of Regulation 20 of
SEBI Listing Regulations and Section 178 of the Act. The Stakeholders Relationship Committee meetings held once during the
financial year 2022-23 on 13th August 2022. The SRC looks into various aspects of interest of shareholders.
Terms of reference
The terms of reference of the Stakeholders Relationship Committee is as follows:
• Resolving the grievances of the security holders including complaints related to transfer/transmission of shares /
debentures, non-receipt of annual report, non-receipt of declared dividends, issue of new/ duplicate certificates, general
meetings etc;
• Reviewing details of transfer of unclaimed dividend /securities to the Investor Education and Protection Fund;
• Reviewing the transfer, transmission, dematerialization of securities;
• Reviewing measures taken for effective exercise of voting rights by shareholders;
• Reviewing adherence to the service standards in respect of various services being rendered by the Registrar & Share
Transfer Agent;
• Reviewing various measures and initiatives taken for reducing the quantum of unclaimed dividends and ensuring timely
receipt of dividend warrants/annual reports/statutory notices by the shareholders of the Company;
• To approve issue of duplicate certificates.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Composition/Meetings of the Committee as on March 31, 2023:

No. of Meetings
Name Category Designation
Held Attend
Mr V.S. Mallick Non-Executive Independent Director Chairman 1 1
Mr. K. S. Shanker Rao Non-Executive Independent Director Member 1 1
Mrs. V. Sarada Devi Non-Executive Independent Director Member 1 1
The Company Secretary is acts as the Secretary to the Committee.
The Company has always valued its customer relationships. This philosophy has been extended to investor relationship,
focusing on servicing the needs of various stake-holders viz. investors, analysts, brokers and the general public.
All valid requests for share transfer received during the year have been acted upon and no such transfer is pending
Details of Investor complaints and Compliance Officer are provided herein below.
Stakeholders Relationship Committee - other details:

Name of non-executive director

Mr V.S. Mallick
heading the committee
Ms. Pratyusha Podugu
Company Secretary
Intense Technologies Limited
Name, designation and address of A1 Vikrampuri,
Compliance Officer:* Secunderabad-500009.
Telangana, India
Ph: 91-40-44558585
E-mail: [email protected]

Details of the Complaints /request i. Number of shareholder complaints/request received: 1

during Financial Year 2022-23 as ii. Number of solved to the satisfaction to the shareholders: 1
follows: iii. Number of pending complaints: Nil
*Ms. Saheli Banerjee, Company Secretary and Compliance officer of the Company resigned from the Company on 22.02.2023
and Ms. Pratyusha Podugu joined as Company Secretary and Compliance officer of the Company wef. 18.04.2023
D. Corporate Social Responsibility Committee (CSR)
The Corporate Social Responsibility (CSR) Committee’s composition and terms of reference are in compliance with the
provisions of section 135 of the Companies Act, 2013. The CSR Committee meeting was held once during the financial year
2022-23 i.e., on February 10, 2023.
The CSR Committee was entrusted with the specific responsibility of reviewing corporate social responsibility programmes,
health and safety framework and sustainable development. The overall roadmap as well as specific issues of concern including
those related to safety and climate change is reviewed in detail. The scope of the CSR Committee also included approving the
budget of CSR, reviewing the CSR programmes and monitoring the CSR spends.
Terms of reference
The terms of reference of the CSR Committee is as follows:
• To formulate and recommend to the Board, a Corporate Social Responsibility (CSR) Policy which shall indicate the
activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013.
• To recommend the amount of expenditure to be incurred on the activities for the above said purpose.
• To review and monitor the Company’s CSR Policy periodically and activities of the Company on behalf of the Board to
ensure that the Group is in compliance with appropriate laws and legislations;
• To provide guidance to management to evaluate long term strategic proposals (including technologies adopted) with
respect to CSR implications;
• To review periodic reports on performance of corporate social responsibility.

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 Composition/Meetings of the Committee as on March 31, 2023:

No. of Meetings
Name Category Designation
Held Attend
Mr. K. S. Shanker Rao Non-Executive Independent Director Chairman 1 1
Mr V.S. Mallick Non-Executive Independent Director Member 1 1
Mrs. V. Sarada Devi Non-Executive Independent Director Member 1 1
Mr Madhukar Nayak, Chief Financial Officer of the Company is the invitee to the Corporate Social Responsibility Committee
Meeting and Company Secretary & Compliance officer of the Company acts as the Secretary to the Committee.
E. Risk Management Committee
As on March 31, 2023, the Risk Management Committee consists of members as stated below.
Mr. V.S. Mallick - Chairman
Mr. K. S. Shanker Rao - Member
Mrs. V. Sarada Devi - Member
The role of the Risk Management Committee is as under:-
1. Preparation of Risk Management Plan, reviewing and monitoring the same on regular basis.
2. To review critical risks those are identified.
3. To report key changes in critical risks to the Board.
4. To get the Risk Management Systems evaluated by the Audit Committee on yearly basis.
5. To review cyber security risk.
6. To perform such other functions as may be prescribed or deemed fit by the Board.
4. General Body Meetings
Annual General Meetings (AGM)
For the financial year 2019-20,2020-21 & 2021-22, the Company’s Annual General Meeting was held through VC/OAVM
pursuant to the Ministry of Corporate Affairs (“MCA”) circular No. 20/2020 dated May 5, 2020 read together with circulars No.
14/2020 dated April 8, 2020 and No. 17/2020 dated April 13, 2020 and SEBI Circular No. SEBI/HO/CFD/CMD1/CIR/P/2020/
79 dated May 12, 2020 and SEBI (Listing Obligation & Disclosure Requirement) Regulations, 2015 and the deemed venue was
the Registered Office of the Company. Details of date & time are as follows:

Financial Year Date Time Venue Special Resolutions passed during last 3 FYs
2019-2020 30.09.2020 2.00 PM 1. Re-appointment of Mr. C.K. Shastri as
Managing Director
2. Re-appointment of Mr. Jayant Dwarkanath as
Through video conference
Whole time Director
(VC) or Other Audio Visual
3. Re-appointment of Ms. C. Anisha Shastri as
Means (OAVM) at the
Whole time Director
Registered Office of the
4. Approval and ratification for the arrears paid
Company through VC/
to Mr. C. K. Shastri, Managing Director and
OAVM
Mr. Jayant Dwarkanath, Whole time Director,
as against the voluntary reduction taken in
remuneration.
2020-2021 30.09.2021 4.00 PM Through video conference -
(VC) or Other Audio Visual
Means (OAVM) at the
Registered Office of the
Company through VC/
OAVM
2021-2022 21.09.2022 12.30 PM Through video conference 1. To approve the revision in the managerial
(VC) or Other Audio Visual remuneration of Executive Directors of the
Means (OAVM) at the Company.
Registered Office of the
Company through VC/
OAVM
Extra Ordinary General Meetings (EGM)
No Extra Ordinary General Meeting of the Shareholders was held during financial year ended March 31, 2023.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Procedure for postal ballot: Live Webcast of AGM

In compliance with Sections 108 and 110 and other
Due to COVID 19 norms, for AGM held on September 21,
applicable provisions of the Companies Act, 2013, read
2022, the Company provided live Webcast facility of the
with the related Rules and read with MCA circulars, the
proceedings of the AGM which was extensively viewed by
Company provides electronic voting (e-voting) facility, in
the Members.
addition to physical ballot, to all its members.
The postal ballot notices was sent by email to all the
members who have registered their mail id. The Company Company’s Website
also publishes a notice in the newspaper declaring the
details and requirements as mandated by the Act and The Company’s website is in line with the requirements laid
applicable rules. down under Regulation 46 of the Listing Regulations. It is
a comprehensive reference of Company’s management,
Voting rights are reckoned on the paid-up value of the vision, mission, policies, corporate governance, corporate
shares registered in the names of the members as on the sustainability, disclosures to investors, updates and news.
cut-off date. The section on ‘Investors’ serves to inform the Members
by giving complete financial details, annual reports,
The scrutinizer completes his/her scrutiny and submits
shareholding patterns, presentation made to institutional
his/her report to the Chairman of the Company, and
investors and analysts, corporate benefits, information
the consolidated results of the voting are announced by
relating to stock exchange intimations, Company policies,
the Chairman / authorized officer. The results are also
Registrar and Transfer Agent (‘RTA’), etc. The section
displayed on the Company website, www.in10stech.com,
“Recent Announcements” includes all major press releases,
besides being communicated to the stock exchanges.
awards and campaigns. The Members can log in the
5. Means of Communication: company website and find out whether their dividend for
any of the years is outstanding.
Stock Exchange Intimations
All price-sensitive information and matters that are Presentations to shareholders/ Members
material to shareholders are disclosed to the respective
Annual Report: The Annual Report containing inter- alia
Stock Exchanges where the securities of the Company are
Notice of the 33rd Annual General Meeting, Audited Annual
listed. All submissions to the Exchanges are made through
Accounts (Standalone & Consolidated), Directors’ Report
the respective electronic filing systems. Material events
including Annexure thereto, Auditors Report, Management
or information as detailed in Regulation 30 of the Listing
Discussion and Analysis, Report on Corporate Governance,
Regulations are disseminated to the Stock Exchange by
Secretarial Audit Report and other important information
filing them with the with BSE Limited (‘BSE’) through BSE
is circulated to Members and others entitled thereto.
Online Portal and NSE Ltd through NEAPS portal. They
are also displayed on the Company’s website at www. Reminder to Investors: Reminders for unclaimed/ unpaid
in10stech.com dividend and shares (if any) thereof are sent to shareholders
(as applicable) as per records.
Financial Results
The quarterly/half-yearly/annual financial results are BSE Corporate Compliance & Listing Centre (the ‘Listing
displayed under ‘Investors’ section of the Company’s Centre‘) (Scrip Code: 532326): BSE’s Listing Centre is a web-
website viz. https://in10stech.com/investors/stock- based application designed for Corporates. All periodical
exchange-compliances. compliance filings like shareholding pattern, corporate
governance report, media releases, among others are also
They are also filed with the BSE through BSE Online Portal
filed electronically on the Listing Centre.
and NSE Ltd through NEAPS portal, as per the applicable
provisions of the SEBI (LO&DR) Regulations, 2015 as NSE Electronic Application Processing System (NEAPS)
amended from time to time. (Scrip Code: INTENTECH): The NEAPS is a web-based
application designed by National Stock Exchange of India
The shareholders are provided with the necessary
Limited (NSE), Mumbai for Corporates. All periodical
information with notices sent for the Annual General
compliance filings like shareholding pattern, corporate
Meeting / Extraordinary General Meeting. Any other
governance report, media releases, among others are filed
information sought by shareholders is being provided on
electronically on NEAPS.
request.
SEBI Complaints Redress System: The investor complaints
News Paper where results normally published
are processed in a centralized web- based complaints
The quarterly/annual Financial results are published in redress system. The salient features of this system are:
English newspaper namely i.e. Business Standard all centralized database of all complaints, online upload of
editions and vernacular language newspaper namely i.e. Action Taken Reports (ATRs) by concerned companies
Andhra Prabha Newspapers (Telugu), Hyderabad edition and online viewing by investors of actions taken on the
complaint and its current status.
Letters and Reminders to Shareholders for Unclaimed
Shares/Dividends:
In addition to the statutory requirement, a voluntary
reminder for unclaimed shares/dividends is also sent to
the shareholders as per records.

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6. General shareholder information

Day, Date, time and venue of the Annual General Friday, 29th day of September, 2023 at 12.00 P.M. IST through video
Meeting conference/ other audio visual means deemed to be held at the
registered office of the Company
Financial year April 01 to March 31
Listing of shares on stock exchanges BSE Limited (BSE)
Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
National Stock Exchange of India Limited (NSE)
‘Exchange Plaza”, Bandra-Kurla Complex, Bandra (E), Mumbai – 400051
Payment of Listing Fee Annual listing fee for the year 2023-24 has been paid by the Company
to BSE and NSE.
Book Closure Saturday, September 23, 2023 to Friday, September 29, 2023 (Both
days inclusive)
Dividend Payment date The dividend, if declared, shall be paid/credited to the respective bank
account of members on or before 30 days from the date of AGM, subject
to deduction of applicable taxes. The dispatch of dividend warrants/
demand drafts will be completed on same day.
Scrip Code 532326
Corporate Identification Number(CIN) L30007TG1990PLC011510
International Securities Identification Number INE781A01025
(ISIN) for equity shares of ` 2/- each under
Depository System
Registrar and Share Transfer Agents (RTA) For shares related matters, the shareholders are requested to correspond
with the RTA of the Company quoting their Folio Number or Client ID
and DP ID at the following address:
KFin Technologies Limited
(Formerly known as KFin Technologies Private Limited)
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda,
Serilingampally Mandal, Hyderabad - 500 032,
E-mail:[email protected]
Toll free number - 1- 800-309-4001
Share Transfer System All the valid transfers received are processed and approved by the Share
Transfer Agent
Dematerialization of Shares 99.42% of the equity shares of the Company were dematerialized as on
31st March, 2023
Outstanding GDRs/ADRs/Warrants or any Nil
convertible instruments.
Address for Correspondence Intense Technologies Limited
A1 Vikrampuri, Secunderabad - 500 009,
Tel No.: 91-40-44558585
Fax No.: 91-40-27819040
Market price data
The monthly high and low-price quotations of the company’s shares at the BSE Limited and National Stock Exchange Limited
during the period from 01st April, 2022 to 31st March, 2023

The Bombay Stock Exchange Limited The National Stock Exchange of India Limited
Month (BSE) (NSE)
High Price Low Price High Price Low Price
April 2022 91.00 78.50 91.40 78.10
May 2022 86.00 65.20 84.15 65.50
June 2022 82.00 57.40 79.80 57.30
July 2022 79.60 67.05 77.45 66.80

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

August 2022 72.40 63.60 72.85 63.10

September 2022 94.90 62.45 95.00 61.25
October 2022 78.50 67.55 78.90 68.00
November 2022 76.00 68.00 77.00 69.00
December 2022 79.20 64.95 75.80 65.10
January 2023 81.00 67.40 74.30 68.20
February 2023 81.10 62.00 79.00 62.90
March 2023 69.20 53.05 69.00 53.10
Performance in comparison to broad-based indices such as BSE Sensex, CRISIL index etc.
During the year under review the shares of your Company are not suspended from trading by any of the stock exchange
where the shares are listed.
Registrar to an issue and share transfer agent:
KFin Technologies Limited
(Formerly known as KFin Technologies Private Limited)
Selenium Tower B, Plot 31 & 32,
Financial District, Nanakramguda,
Serilingampally Mandal, Hyderabad-500032
E-mail: [email protected]
Toll free number - 1- 800-309-4001
Share transfer system:
SEBI vide its notification No. SEBI/LAD-NRO/GN/2018/24 dated June 08, 2019 notified that except in case of transmission
or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held
in dematerialized form with a depository and came into effect from April 01, 2019. The Board has delegated the authority
for approving transmission, etc. of the Company’s securities to the Managing Director/Executive Director. A summary of
transmission of securities of the Company so approved by the Managing Director/Executive Director are placed at every
Stakeholder’s Relationship Committee meeting. The Company obtains from a Company Secretary in Practice yearly certificate
of compliance with the share transfer formalities as required under Regulation 40(9) of SEBI (Listing Obligations & Disclosure
Requirement) Regulations 2015 and files a copy of the said certificate with Stock Exchanges.
Distribution of shareholding as on March 31, 2023
Shareholding of nominal Number of Percentage of share- Amount of share- Percentage of
Sl. No.
value shareholders holders holding (Rs.) shares held
1 up to 5000 18,735 96.52 9,333,050.00 20.78
2 5001-10000 321 1.65 2,307,604.00 5.14
3 10001-20000 178 0.92 2,648,920.00 5.90
4 20001-30000 56 0.29 1,397,354.00 3.11
5 30001-40000 22 0.11 780,632.00 1.74
6 40001-50000 19 0.10 864,030.00 1.92
7 50001-100000 29 0.15 2,048,558.00 4.56
8 Above 100000 50 0.26 25,533,750.00 56.85
Total 19,410 100.00 44,913,898 100.00
Shareholding Pattern as on March 31, 2023
S. No Description Cases Shares % Equity
1 Bodies Corporates 143 2,384,690 10.62
2 Clearing Members 19 12,418 0.06
3 Employees 62 467,204 2.08
4 HUF 373 553,368 2.46
5 Non Resident Indian Non-Repatriable 67 75,675 0.34
6 Non Resident Indians 37 454,035 2.02

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 7 Promoter Group 2 726 0.00
8 Promoters 6 4,059,759 18.08
9 Directors 1 1,295,635 5.77
10 Resident Individuals 18,700 13,153,439 58.57
Total 19,410 22,456,949 100.00
Shareholding pattern of the Promoter and Promoter Group as on March 31, 2023

Name of the Shareholder No. of Shares held Shares as a % of total number of Shares
PROMOTERS
Mr. C K Shastri 17,28,592 7.70
Mr. Tikam Sujan 22,37,642 9.97
Mrs. Chidella Uma Maheswari 93,525 0.42
Total 40,59,759 18.09
PROMOTER GROUP
Ms. C. Anisha Shastri 726 0.0
TOTAL 40,60,485 18.09
Dematerialization of shares and liquidity:
Details of Shareholding in physical mode and electronic mode as on 31st March, 2023
Sl. No Description No of shareholders Total Shares % To Equity
1 Physical 873 1,30,954 0.58%
2 NSDL 7,126 1,43,89,981 64.08%
3 CDSL 11,411 79,36,014 35.34%
Total 19,410 2,24,56,949 100.00%
Dematerialization of Shares
99.42% of the Company’s paid-up Equity share capital has been dematerialised as on March 31, 2023. The total holdings
of shares of promoters/PAC are in Demat form. The trading of the Equity shares of the company is permitted only in
dematerialised form as per the notification issued by SEBI.
The Company has complied the Regulation 31(2) of SEBI (Listing Obligation & Disclosure Requirement) Regulation 2015, as
follows:

Total Shares In Demat Form

Category of sharehold- No of
er Number No of Number % of Respective
Sharehold-
of shares Held Shareholders of shares Held Shareholding
ers
Promoters & 4 40,60,485 4 40,60,485 100%
Promoters Group
Public 18,917 1,83,96,464 18,044 1,82,65,510 99.29%
Total: 18,921 2,24,56,949 18,048 2,23,25,995

To enable us to serve our investors better, we request Telangana, India

shareholders whose shares are in the physical mode to Tel No.: 91-40-44558585
dematerialize their shares and update their bank accounts Fax No.: 91-40-27819040
with the respective depository participants.
Company Secretary & Compliance Officer:
The Company has not issued any ADRs/GDRs/Warrants or Ms. Pratyusha Podugu
any convertible instruments during the year under review. A1 Vikrampuri, Secunderabad - 500 009,
Telangana, India
Investor Correspondence:
Tel No.: 91-40-44558585
Registered Office Address: Fax No.: 91-40-27819040
Intense Technologies Limited
E-mail : [email protected]
A1 Vikrampuri, Secunderabad-500009
Website : www.in10stech.com

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Other Disclosures Warrants and accordingly issued and allotted in aggregate

and upto 10,00,000 (Ten Lacs) Convertible Warrants
• Disclosure of related party transactions:
(“Warrants”) each convertible into or exchangeable for One
All transactions entered into with related parties during
(1) Equity Share of face value of Rs 2/- each (“the Equity
the financial year were on arm’s length basis and in the
Shares”) at a price (including the warrant subscription
ordinary course of business. The transactions with the
price and the warrant exercise price) of Rs 36.93 /- each
related parties are in compliance with Section 188 of the
at a premium of Rs 34.93 /- per share for each Warrant
Companies Act, 2013 and Regulation 23 of the Regulations.
aggregating to Rs 3,69,30,000 (Rupees Three crores sixty
There were no materially significant transactions entered nine lakhs and thirty thousand only), with the object of
into by the Company with the related parties which might augmenting the fund requirements of the Company for
be deemed to have had a potential material conflict with immediate working, marketing of products and capital
the interests of the Company at large. The details of the expenditure requirements, and for other general corporate
related party transactions entered during the year and purposes, subject of approval of the Members of the
disclosures as required by the Indian Accounting Standards Company at the Extra Ordinary General Meeting duly held
(IND AS 24) are disclosed in the note 46 of notes forming on May 18, 2021, for the purpose. The list of allottees are
part of the financial statements. The policy lays down the as under:
criteria for determining the materiality of transactions. The
said policy has been posted on the Company’s website at Sl No of
Name of Allottee Category
the following link https://in10stech.com/investors/policies No Warrants
1. Mr. Chidella Krishna 8,00,000 Promoter group
• Compliance(s) of matters relating to Capital Market:
Shastri
The Company has complied with all applicable rules and
regulations prescribed by stock exchange (BSE & NSE), 2. Mrs. Usha Rani 2,00,000 Non-Promoter
Securities and Exchange Board of India (SEBI) or any other Padmasola group
statutory authority relating to the capital markets. Total 10,00,000
• Statutory Compliance, Penalties and Strictures • Code of conduct for prevention of insider trading
The Company has complied with the requirements of the The Company has adopted a code of conduct for
Stock Exchanges, SEBI and Statutory Authority on all prevention of Insider Trading (Insider Trading Code) in
matters related to capital markets. During the year under accordance with the requirements of SEBI (Prohibition
preview, no penalties or strictures have been imposed on of Insider Trading) Regulations, 2015. The Insider Trading
the Company by these authorities. The Company’s listed code which is applicable to all directors and designated
securities were never suspended from trading. employees lays down guidelines and procedures to be
• Whistle Blower Policy/Vigil Mechanism: followed and disclosures to be made while dealing in the
The Company has adopted a Whistleblower Policy and securities of the Company.
Vigil Mechanism to provide a formal mechanism to the • Details of compliance with mandatory requirements and
Directors, employees and other external stakeholders to adoption of Discretionary Requirements
report their concerns about unethical behaviour, actual The Company has complied with the mandatory
or suspected fraud or violation of the Company’s Code of requirements of the Corporate Governance as per SEBI
Conduct. (Listing Obligations and Disclosure Requirements)
The Policy provides for adequate safeguards against Regulations, 2015. With regard to the non-mandatory
victimisation of employees who avail of the mechanism requirements, the Company has complied to the extent
and also provides for direct access to the Chairperson stated below:
of the Audit Committee. No personnel of the Company
a Shareholder Quarterly financial results are
have been denied access to the Audit Committee. The
rights published in leading newspapers, viz.
Whistleblower Policy and Vigil Mechanism ensures that Business Standard and vernacular–
strict confidentiality is maintained in such cases and no Andhra Prabha. The audited results for
unfair treatment is meted out to a Whistleblower. the financial year are approved by the
Board and then communicated to the
The Company, as a Policy, condemns any kind of members through the Annual Report
discrimination, harassment, victimisation or any other and also published in the newspapers.
unfair employment practice being adopted against
Whistleblowers. The policy also lays down the process b Modified The financial statements for the
opinion(s) in financial year ended 31st March, 2023
to be followed for dealing with complaints. The said Annual Report were with unmodified audit opinion
policy has been posted on the Company’s website at the
following link https://in10stech.com/investors/policies c Separate post The Chairman of the Company is also
of Chairman the Managing Director in the category:
• Details of utilization of funds raised through preferential Executive
allotment or qualified institutional placement d Other Non- The Company would be progressively
The Company has not made any preferential allotment Mandatory adopting the other non-mandatory
or qualified institutions placement during the year under Requirements: requirements
review.
The Board of Directors of the Company at their meeting
held on Tuesday, 20th April, 2021, had approved the issue of

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Annual Report 2022-23
• The Disclosures of the compliance with Corporate Governance requirements specified in Regulation 17 to 27 and clauses
(b) to (i) of sub-regulation (2) of regulation 46 are as follows:

Regulation Particulars of Regulation Compliance Status(Yes/No/NA)

17 Board of Directors Yes
18 Audit Committee Yes
19 Nomination and Remuneration Committee Yes
20 Stakeholders Relationship Committee Yes
21 Risk Management Committee Yes
22 Vigil Mechanism Yes
23 Related Party Transactions Yes
24 Corporate Governance Requirements with respect to subsidiaries Yes
of listed entity
25 Obligations with respect to Independent Directors Yes
26 Obligations with respect to Directors and Senior Management Yes
Personnel
27 Other Corporate Governance Requirements Yes
46 (2)(b) to (i) Disclosures on website Yes
• Non-Mandatory Requirements
The Company has complied with the following non-mandatory requirements of the Listing Regulations relating to Corporate
Governance. The status of compliance with the non-mandatory requirements listed in Regulation 27(1) read with Part E of
Schedule II of the Listing Regulations is as under:
 During the year under review, there was no audit qualification in the Company’s Financial Statements. The Company
continues to adopt best practices to ensure regime of unmodified audit opinion.
 The Company follows a robust process of communicating with the Shareholders which has been elaborated in the
Report under the heading ‘Means of Communication’.
 The Internal Auditor reports to the Audit Committee.
• Disclosure of Accounting Treatment
The financial statements of the Company have been prepared in accordance with Indian Accounting Standards (Ind AS)
notified under Section 133 of the Companies Act, 2013.
• Risk Management
During the year, there were no major elements of risk which have the potential to harm the interests of the Company.
• Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act,
2013
As per the requirement of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013
(‘POSH Act’) and Rules made thereunder, the Company addresses complaints pertaining to sexual harassment in accordance
with the POSH Act. The Company has in place a Policy on Prevention of Sexual Harassment at Workplace (‘POSH’) and the
same is uploaded on the website of the Company at www.in10stech.com.
During the year under review, the Company has not received any complaint and no complaint was pending as at the end of
the financial year. The Company periodically conducts awareness programmes for its employees.
The following are the summary of sexual harassment complaints received and disposed off during the year:

Sl Status of the No. of complaints received and

Particulars
No disposed off
1 Number of complaints on sexual harassment received Nil
2 Number of complaints disposed off during the year Nil
3 Number of cases pending for more than ninety days Not Applicable
Number of workshops or awareness programmes against sexual The Company conducts necessary awareness
4
harassment carried out programmes for its employees
5 Nature of action taken by the employer or district officer Not Applicable

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

• Confirmation by the Board of Directors regarding acceptance of recommendations of all Committees:

In terms of the amendments made to the Listing Regulations, the Board of Directors confirm that during the year, it has
accepted all recommendations received from all its Committees.
• PCS Certificate
A certificate has been received from Mr Navajyoth Puttaparthi (FCS 9896) (CP No: 16041), Partner of M/s Puttaparthi
Jagannatham & Co., Practicing Company Secretaries, Hyderabad that none of the Directors on the Board of the Company has
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 statutory authority.
• Statutory Auditor Remuneration
M/s MSPR & Co., Chartered Accountants (Firm Registration No. 010152S) have been appointed as the Statutory Auditors of
the Company. Details of total fees for all services paid by the Company and its subsidiaries (on a consolidated basis), to the
Statutory Auditor and all entities in the network firm/ network entity of which the statutory auditor is a part is as under:
(Rs in Lakhs)
Intense Intense
Intense Intense Reasy Pte
Particulars Technologies Technologie UK Total
Technologie FZE Technologie INC ltd.
Limited Ltd
Audit Fees 10,00,000 87,200 26,06,835 5,58,574 1,11,161 43,63,770
Professional
Charges - 42,817 - 1,01,559 83,088 2,27,464
Total 10,00,000 1,30,017 26,06,835 6,60,133 1,94,249 45,91,234
• Notice for shareholders/investors for unpaid dividends
Your Company does not have any Un-Claimed Dividends/Shares for a period of seven years. Therefore, there were no funds
which were required to be transferred to Investor Education and Protection Fund (IEPF).
All shareholders, whose dividend remains unpaid/ unclaimed, are requested to verify the same on the Company’s website
and lodge their claim to RTA by submitting an application in writing supported by a deed of indemnity immediately.
• CEO and CFO Certification
The Executive Director and the Chief Financial Officer of the Company have given annual certification on financial
reporting and internal controls to the Board in terms of Regulation 17(8) of the SEBI (Listing Obligation & Disclosure
Requirements) Regulation, 2015. The annual certificate given by the Chairperson and Managing Director and the Chief
Financial Officer forms part of the Annual Report.
• Compliance Certificate from the Secretarial Auditors
Certificate from Mr Navajyoth Puttaparthi (FCS 9896) (CP No: 16041), Partner of M/s Puttaparthi Jagannatham & Co.,
Practicing Company Secretaries, Hyderabad confirming Compliance with the conditions of Corporate Governance as
stipulated under SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 is forming part of the Annual
Report.
• Green Initiative
As a responsible corporate citizen, the Company welcomes and supports the ‘Green Initiative’ undertaken by the
Ministry of Corporate Affairs, Government of India, enabling electronic delivery of documents including the Annual
Report, quarterly and half-yearly results, amongst others, to Shareholders at their e-mail address previously registered
with the Depository Participants (‘DPs’) and RTA.
Shareholders who have not registered their e-mail addresses so far are requested to do the same. Those holding shares
in demat form can register their e-mail address with their concerned DPs. Shareholders who hold shares in physical
form are requested to register their e-mail addresses with the RTA, by sending a letter, duly signed by the first/sole
holder quoting details of Folio Number.
• Accounting Treatment in preparation of Financial Statements
The Company has prepared the Financial Statements in accordance with the Indian Accounting Standards (Ind AS)
to comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 3 of the Companies
(Indian Accounting Standards) Rules, 2015 and the relevant provisions of the Act, as applicable.
• Evolution of Equity Share Capital of the Company
The Authorised Share Capital of the Company is Rs 50,00,00,000/- (Rupees fifty crore only), divided into equity shares of
Re.2/- each, and the paid up equity share capital of the Company is ` 4,69,34,898 divided into 2,34,67,449 equity shares of
`2/- each.
During the year under review, your Company allotted 10,00,000 equity shares upon conversion of Warrants and 10,500
equity shares on the exercise of stock options under various Employee Stock Option Schemes. Consequently, the issued,
subscribed and paid-up equity share capital has increased from ` 4,49,13,898/- divided into 2,24,56,949 equity shares of
Re.2/- each to ` 4,69,34,898 divided into 2,34,67,449 equity shares of `2/- each.

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 During the financial year, the Company has not raised any funds in the form of equity.

Particulars of issue of Allotment

No. of shares Category
capital Date
30 Issue Price `10; 24-Jul-90 Memorandum Subscription
33000 Issue Price `10; 01-Mar-95 Allotment to Promoters
117000 Issue Price `10; 15-Feb-96 Allotment to Promoters
5000 Issue Price `10; 08-Feb-99 Allotment to Promoters
Allotment to Promoters / Directors, their friends,
2496800 Issue Price `10; 31-Mar-99
associates and relatives
Allotment to Promoters / Directors, their friends,
1423770 Issue Price `10; 28-May-99
associates and relatives
300000 Issue Price `10; 28-May-99 ESOP Scheme-Fortune Foundation Trust
690000 Issue Price `10; 30-Sep-99 Allotment to Promoters
1858200 Issue Price `10; 30-Sep-99 IPO Allotment to Resident Indian Public
150000 Issue Price `10; 30-Sep-99 IPO Firm Allotment to Reliance Capital Mutual Fund
IPO Firm Allotment to Karvy Investor Services Limited
100000 Issue Price `10; 30-Sep-99
-lead managers to the issue
Preferential Issue-conversion of warrants: Specified
130000 Issue Price `14; 30-Mar-02
persons
50000 Issue Price `14; 24-Aug-02 Preferential Issue-conversion of warrants: Promoters
Preferential Issue-conversion of warrants: Foreign
800000 Issue Price `14; 16-Sep-02
investor
Preferential Issue-conversion of warrants: ESOP
200000 Issue Price `14; 16-Sep-02
Scheme.
650000 Issue Price `14; 25-Jul-03 Preferential Issue-conversion of warrants: Promoters
Preferential Issue-conversion of warrants: Promoters /
750000 Issue Price `14; 09-Apr-03
Specified persons
500000 Issue Price `14; 25-Jun-03 Preferential Issue-conversion of warrants: Promoters
Preferential Issue-conversion of warrants: Foreign
720000 Issue Price `14; 24-Sep-03
investors / specified persons
Preferential Issue-conversion of warrants: Corporate
1650000 Issue Price `60; 21-Feb-06
Bodies/NRI’s/Specified persons
Preferential Issue-conversion of warrants: Specified
100000 Issue Price `19; 07-Oct-06
persons
Preferential Issue-conversion of warrants: NRI / Spec-
660000 Issue Price `19; 16-Nov-06
ified persons
Allotment of shares on exercise of ESOP: ESOP
206550 Issue Price `10; 27-Feb-07
scheme - 2005
Allotment of shares on exercise of ESOP: ESOP
125150 Issue Price `10; 31-Mar-07
scheme - 2005
Allotment of shares on exercise of ESOP: ESOP
38250 Issue Price `10; 29-Jul-07
scheme - 2005
Issue Price `10 at premium Preferential Issue-conversion of warrants: Promoters /
500000 20-Aug-07
of `50/- per share; Specified persons
3455000 Issue Price `80; 11-Oct-07 Allotment of shares to Qualified Institutional Buyers
595282 Issue Price `10; 28-Oct-07 Preferential Issue: NRI
Allotment of shares on exercise of ESOP scheme –
333850 Issue Price `10; 31-Jan-08
2005

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Particulars of issue of Allotment

No. of shares Category
capital Date
Preferential Issue-conversion of warrants: Specified
500000 Issue Price `12; 2-Dec-10
persons- ISON
Allotment of shares on exercise of ESOP - 2005 (JD
142500 Issue Price `2; 10-Feb-14
125000; Balaraman 17500)
Allotment of shares on exercise of ESOP Scheme B
800000 Issue Price `2; 27-Jun-15
2009 - (to JD)
935500 Issue Price `2; 26-Oct-15 Allotment of shares on exercise of ESOP 2005
477400 Issue Price `2; 26-Oct-15 Allotment of shares on exercise of ESOP 2005
Allotment of shares on exercise of ESOP (SCH A
202802 Issue Price `2; 26-Oct-15
2009)
Allotment of shares on exercise of ESOP (SCH A
427977 Issue Price `2; 6-Mar-17
2009)
Allotment of shares on exercise of ESOP (SCH A
215078 Issue Price `2; 30-May-18
2009)
Allotment of shares on exercise of ESOP (SCH A
45810 Issue Price `2; 11-Dec-18
2009)
Allotment of shares on exercise of ESOP (SCH A
23000 Issue Price `2; 14-Feb-20
2009)
Allotment of shares on exercise of ESOP (SCH A
16000 Issue Price `2; 12-Feb-21
2009)
Allotment of shares on exercise of ESOP (SCH A
33000 Issue Price `2; 06-Nov-21
2009)
Preferential Issue-conversion of warrants: Promoters /
10,00,000 Issue Price Rs 36.93; 22-Feb-23
Specified persons
Allotment of shares on exercise of ESOP (SCH A
10,500 Issue Price `10; 07-Mar-23
2009)
The Company has not made any preferential allotment or qualified institutions placement during the year under review.

DECLARATION ON CODE OF CONDUCT

Pursuant to Regulation 26 read with schedule V (Part D) of SEBI (Listing Obligation and Disclosure Requirements) Regulations,
2015, We, hereby confirm that all the Members of the Board and Senior Management Personnel of the Company have affirmed
the compliance of the Company’s Code of Conduct for the Board of Directors and Senior Management for the financial year 31st
March, 2023.

For and on behalf of

Intense Technologies Limited

Registered Office
A1 Vikrampuri, Secunderabad Telanga-
na-500 009, India
Tel No.: 91-40-44558585
Fax No.: 91-40-27819040 C K Shastri Jayant Dwarkanath
E-mail: [email protected] Chairman & Managing Director Whole-time Director
(DIN: 00329398) (DIN: 00329597)
Date: July 25, 2023
Place: Secunderabad

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THE MANAGING DIRECTOR AND CHIEF FINANCIAL OFFICER CERTIFICATION
To
The Board of Directors,
Intense Technologies Limited

We, C K Shastri, Chairman & Managing Director and H. Madhukar Nayak, Chief Financial officer of Intense Technologies Limited,
to the best of our knowledge and belief, certify that:
(a) We have reviewed the financial statements and the cash flow statement for the year under review and certify
that:
i. These statements do not contain any materially untrue statement or omit any material facts or contain statements
that might be misleading.
ii. These statements together present a true and fair view of the company’s affairs and are in compliance 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 year are fraudulent,
illegal or violative of the company’s code of conduct.
(c) We are responsible for establishing and maintaining internal controls for financial reporting and have evaluated the
effectiveness and disclosed to the auditors and audit committee, the deficiencies in the design and operation of such
internal controls and the steps taken to rectify these deficiencies.
(d) We have indicated to the auditors and the audit committee that
i. There are no significant changes in internal control over financial reporting during the year
ii. There are no significant changes in accounting policies during the year and the same have been disclosed in the
notes to the financial statements.
iii. There are no frauds of which we are aware, that involves management or other employees who have a significant
role in the company’s internal controls system.

Sd/- Sd/-
C K Shastri H Madhukar Nayak
Chairman & Managing Director Chief Financial Officer
(DIN: 00329398)
Place: Secunderabad
Date: May 30, 2023

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

CERTIFICATE ON CORPORATE GOVERNANCE

To,
The Members of
Intense Technologies Limited
A1, Vikrampuri,
Secunderabad-500009.

We have examined the relevant records relating to compliance of conditions of Corporate Governance by Intense Technologies
Limited (“the Company”), for the year ended 31st March 2023, as per the relevant provisions of Securities and Exchange Board of
India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’) as referred to in Regulation 15(2)
of the Listing Regulations for the year ended 31st March 2023.
The compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination was limited
to procedures and implementation thereof, adopted by the Company for ensuring compliance with the conditions of Corporate
Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company has
complied with the conditions of Corporate Governance as stipulated in above mentioned Listing Regulations.
We 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.

Place: Hyderabad For Puttaparthi Jagannatham & Co.

Date: May 30, 2023 Company Secretaries
Sd/-
CS Navajyoth Puttaparthi
Partner
FCS No: 9896; C P No: 16041
Peer Review Certificate No. 1158/2021
UDIN: F009896E000418106

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Independent Auditor’s Report
To The Members of Intense Technologies Limited

Report on the Audit of the Standalone Financial Statements

Opinion
We have audited the accompanying Standalone Financial Statements of M/s INTENSE TECHNOLOGIES LIMITED
(hereinafter referred to as “the Company”), which comprise the Balance Sheet as at 31st March 2023 , the Statement of Profit and
Loss (including Other Comprehensive Income), the Statement of the Changes in Equity and the Statement of Cash Flows for the
year ended on that date and a summary of the significant accounting policies and other explanatory information. (hereinafter
referred to as the “Standalone Financial Statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial
Statements give the information required by the Companies Act, 2013 (“the Act”) in the manner so required and give a true and
fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the companies
(Indian Accounting Standards) Rules, 2015, as amended,(‘’Ind AS’’) and other accounting principles generally accepted in India,
of the state of affairs of the Company as at 31st March 2023, and its profit , total comprehensive income, changes in equity and its
cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit of the Standalone Financial Statements in accordance with the standards on Auditing (“SA”s) specified
under section 143(10) of the Act . Our responsibilities under those standards are further described in the Auditors responsibilities
for the Audit of the Standalone Financial Statements section of our report. We are independent of the company in accordance
with the code of ethics issued by the Institute of Chartered Accountants of India (‘’ICAI’’) together with the ethical requirements
that are relevant to our audit of Standalone Financial Statements under the provisions of the act and the rules made thereunder,
and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s code of Ethics.
We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the
Standalone Financial Statements.
Key audit matters:
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Standalone
Financial Statements of the current period. These matters were addressed in the context of our audit of Standalone Financial
Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have
determined the matters described below to be the key audit matters to be communicated in our report.

Key Audit Matter Auditor’s Response

Accuracy of revenue Principal Audit Procedures
recognition in respect of
Our audit approach was a combination of test of internal controls and substantive
fixed price contracts involves
procedures which included the following, among others:
critical estimates. Estimated
effort is a critical estimate Evaluated the design of internal controls relating to recording of efforts incurred and
to determine revenues estimation of efforts required to complete the performance obligations.
and liabilities for onerous
Tested the access and application controls pertaining to time recording and allocation
obligations. This estimate has
systems which prevents unauthorized changes to recording of efforts incurred.
a high inherent uncertainty as it
requires consideration of progress Selected a sample of contracts and through inspection of evidence of performance of
of the contract, efforts incurred these controls, tested the operating effectiveness of the internal controls relating to
till date and efforts required to efforts incurred and estimated.
complete the remaining contract
performance obligations. Selected a sample of contracts and performed a retrospective review of completed
efforts and activities with the planned efforts and activities to identify significant
variations and verified whether those variations have been considered in estimating
the remaining efforts to complete the contract.
Reviewed a sample of contracts with unbilled revenues to identify possible delays in
achieving milestones, which require a change in estimated efforts to complete the
remaining performance obligations.
Performed analytical procedures and test of details for reasonableness of incurred and
estimated efforts.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Information Other than the Financial Statements and Our objectives are to obtain reasonable assurance about whether
Auditor’s Report Thereon the Standalone Financial Statements as a whole are free from
The Company’s Board of Directors is responsible for the other material misstatement, whether due to fraud or error, and to
information. The other information comprises the information issue an auditor’s report that includes our opinion. Reasonable
included in the Management discussion and Analysis, Board’s assurance is a high level of assurance but is not a guarantee
report including Annexures to Board’s Report, Business that an audit conducted in accordance with SAs will always
Responsibility and sustainability report, corporate governance, detect a material misstatement when it exists. Misstatements
and Shareholder’s information, but does not include the can arise from fraud or error and are considered material if,
Consolidated Financial Statements, Standalone Financial individually or in the aggregate, they could reasonably be
Statements and our auditor’s report thereon. expected to influence the economic decisions of users taken on
the basis of these Standalone Financial Statements.
Our opinion on the Standalone Financial Statements does not
cover the other information and we do not express any form of As part of an audit in accordance with SAs, we exercise
assurance conclusion thereon. professional judgment and maintain professional skepticism
throughout the audit. We also:
In connection with our audit of the Standalone Financial
Statements, our responsibility is to read the other information z Identify and assess the risks of material misstatement of
and, in doing so, consider whether the other information the Standalone Financial Statements, whether due to fraud
is materially inconsistent with the Standalone Financial or error, design and perform audit procedures responsive
Statements, or our knowledge obtained during the course of to those risks, and obtain audit evidence that is sufficient
our audit or otherwise appears to be materially misstated. and appropriate to provide a basis for our opinion. The
risk of not detecting a material misstatement resulting
If, based on the work we have performed, we conclude that
from fraud is higher than for one resulting from error, as
there is a material misstatement of this other information, we
fraud may involve collusion, forgery, intentional omissions,
are required to report that fact. We have nothing to report in
misrepresentations, or the override of internal control.
this regard.
z Obtain an understanding of internal financial controls
Responsibilities of Management and Those Charged
relevant to the audit in order to design audit procedures
with Governance for the Standalone Financial
that are appropriate in the circumstances. Under section
Statements
143(3)(i) of the Act, we are also responsible for expressing
The Company’s Board of Directors is responsible for the
our opinion on whether the Company has adequate internal
matters stated in section 134(5) of the Act with respect to the
financial controls with reference to Standalone Financial
preparation of these Standalone Financial Statements that
Statements in place and the operating effectiveness of
give a true and fair view of the financial position, financial
such controls.
performance, including other comprehensive income, changes
in equity and cash flows of the Company in accordance with z Evaluate the appropriateness of accounting policies used
accounting principles generally accepted in India, including the and the reasonableness of accounting estimates and
Indian Accounting Standards (Ind AS) specified under section related disclosures made by management.
133 of the Act. This responsibility also includes maintenance of
z Conclude on the appropriateness of management’s use of
adequate accounting records in accordance with the provisions
the going concern basis of accounting in preparation of
of the Act for safeguarding the assets of the Company and
Standalone Financial Statements and, based on the audit
for preventing and detecting frauds and other irregularities;
evidence obtained, whether a material uncertainty exists
selection and application of appropriate accounting policies;
related to events or conditions that may cast significant
making judgments and estimates that are reasonable and
doubt on the Company’s ability to continue as a going
prudent; and design, implementation and maintenance of
concern. If we conclude that a material uncertainty exists,
adequate internal financial controls, that were operating
we are required to draw attention in our auditor’s report
effectively for ensuring the accuracy and completeness of
to the related disclosures in the Standalone Financial
the accounting records, relevant to the preparation and
Statements or, if such disclosures are inadequate, to
presentation of the Standalone Financial Statements that give
modify our opinion. Our conclusions are based on the
a true and fair view and are free from material misstatement,
audit evidence obtained up to the date of our auditor’s
whether due to fraud or error.
report. However, future events or conditions may cause
In preparing the Standalone Financial Statements, the the Company to cease to continue as a going concern.
management is responsible for assessing the Company’s
z Evaluate the overall presentation, structure and content
ability to continue as a going concern, disclosing, as applicable,
of the Standalone Financial Statements, including the
matters related to going concern and using the going concern
disclosures, and whether the Standalone Financial
basis of accounting unless the Board of Directors either intends
Statements represent the underlying transactions and
to liquidate the Company or to cease operations, or has no
events in a manner that achieves fair presentation.
realistic alternative but to do so.
Materiality is the magnitude of misstatements in the Standalone
The Board of Directors is also responsible for overseeing the
Financial Statements that, individually or in aggregate, makes
Company’s financial reporting process.
it probable that the economic decisions of a reasonably
Auditor’s Responsibility for the Audit of the knowledgeable user of the Standalone Financial Statements
Standalone Financial Statements may be influenced. We consider quantitative materiality and

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qualitative factors in (i) planning the scope of our audit work effectiveness of the Company’s internal financial
and in evaluating the results of our work: and (ii) to evaluate controls with reference to Standalone Financial
the effect of any identified misstatements in the Standalone Statements.
Financial Statements.
g) With respect to the other matters to be included in the
We communicate with those charged with governance Auditor’s report in accordance with the requirements
regarding, among other matters, the planned scope and of section 197(16) of the Act, as amended :
timing of the audit and significant audit findings, including
In our opinion and to the best of our information
any significant deficiencies in internal control that we identify
and according to the explanations given to us, the
during our audit.
remuneration paid by the company to its directors
We also provide those charged with governance with a during the year is in accordance with the provisions of
statement that we have complied with relevant ethical section 197 of the Act.
requirements regarding independence, and to communicate
h) With respect to the other matters to be included in
with them all relationships and other matters that may
the Auditors’ Report in accordance with Rule 11 of
reasonably be thought to bear on our independence, and
the Companies (Audit and Auditor’s) Rules,2014,
where applicable, related safeguards.
as amended, in our opinion and to the best of our
From the matters communicated with those charged with information and according to the explanations given
governance, we determine those matters that were of most to us:
significance in the audit of the Standalone Financial Statements
i. The Company has disclosed the impact of
of the current period and are therefore the key audit matters.
pending litigations as at 31st March 2023 on
We describe these matters in our auditor’s report unless law
its financial position in its Standalone Financial
or regulation precludes public disclosure about the matter
Statements. Refer Note 31 to the Standalone
or when, in extremely rare circumstances, we determine that
Financial Statements.
a matter should not be communicated in our report because
the adverse consequences of doing so would reasonably be ii. The Company has made provisions, as required
expected to outweigh the public interest benefits of such under the applicable law or accounting standard,
communication. for material foreseeable losses, if any, on long-
term contracts including derivative contracts. The
Report on Other Legal and Regulatory Requirements
company did not have any long-term derivative
As required by section 143 (3) of the Act, based on our audit contracts.
we report that:
iii. There has been no delay in transferring amounts,
a) We have sought and obtained all the information and required to be transferred, to the Investors
explanations which to the best of our knowledge and Education and Protection Fund by the Company.
belief were necessary for the purpose of our audit.
iv. (a) The management has represented that,
b) In our opinion, proper books of account as required to the best of its knowledge and belief, no
by law have been kept by the Company so far as it funds (which are material either individually
appears from our examination of those books. or in aggregate) have been advanced or
loaned or invested (either from borrowed
c) The Standalone Balance Sheet, the Standalone
funds or share premium or any other
Statement of Profit and loss (including of other
sources or kind of funds) by the Company to
comprehensive Income), the Standalone Statement
or in any other persons or entities, including
of changes in equity and the Standalone Statement of
foreign entities(“intermediaries”) with the
Cash flows dealt with by this Report are in agreement
understanding, whether recorded in writing
with the books of account.
or otherwise that the intermediary shall:
d) In our opinion, the aforesaid Standalone Financial
z Directly or indirectly lend or invest in
Statements comply with the Ind AS specified under
other persons or entities identified in
Section 133 of the Act.
any manner whatsoever (“Ultimate
e) On the basis of written representations received Beneficiaries”) by or on behalf of the
from the directors as on 31st March 2023, and taken company
on record by the Board of Directors, none of the
Or
directors is disqualified as on 31st March 2023, from
being appointed as a director in terms of section 164 z Provide any guarantee, security or the
(2) of the Act. like to or on behalf of the Ultimate
Beneficiaries.
f) With respect to the adequacy of the internal financial
controls with reference to Standalone Financial (b) The management has represented that,
Statements of the Company and the operating to the best of its knowledge and belief, no
effectiveness of such controls, refer to our separate funds (which are material either individually
report in “Annexure A”. Our report expresses an or in aggregate) have been received by
unmodified opinion on the adequacy and operating the Company from any persons or entities,

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

including foreign entities (“Funding parties”) with the understanding, whether recorded in writing or otherwise
that the Company shall:
z Directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever
(“Ultimate Beneficiaries”) by or on behalf of the Funding party
Or
z Provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries: and
(iii) Based on such audit procedures that have been considered reasonable and appropriate in the circumstances,
nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and
(ii) of Rule 11(e),as provided under iv (a) and iv (b) above, contain any material mis-statement.
v. The dividend declared or paid during the year by the company is in compliance with section 123 of the Act.
vi. Proviso to Rule 3(1) of the Companies (Accounts) Rules,2014 for maintaining books of account using accounting
software which has a feature of recording audit trail (edit log) facility is applicable to the Company with effect
from April 1,2023, and accordingly, reporting under Rule 11(g) of Companies (Audit and Auditors) Rules,2014 is not
applicable for the financial year ended March 31,2023.
vii. As required by the Companies (Auditor’s Report) Order,2020 (the “Order”) issued by the Central Government in
terms of section 143(11) of the Act, we give in “Annexure B” a statement on the matters specified in paragraphs 3
and 4 of the Order.

For MSPR & CO.,

Chartered Accountants
ICAI Firm Registration No: 010152S

Voruganti Madhusudhan
(Partner)
Place: Hyderabad Membership No: 208701
Date: 30-May-2023 UDIN:23208701BGVVJC6270

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Annexure A to the Independent operating effectiveness. Our audit of internal financial controls
with reference to Standalone Financial Statements included
Auditors’ Report on the Standalone obtaining an understanding of such internal financial controls
Financial Statements of Intense with reference to Standalone Financial Statements, assessing
Technologies Limited for the year the risk that a material weakness exists, and testing and
evaluating the design and operating effectiveness of internal
ended 31st March 2023 control based on the assessed risk. The procedures selected
(Referred to in paragraph 1(f) under ‘Report on Other Legal depend on the auditor’s judgment, including the assessment of
and Regulatory Requirements’ section of our report to the the risks of material misstatement of the Standalone Financial
Members of Intense Technologies Limited of even date). Statements, whether due to fraud or error.
Report on the Internal Financial Controls with We believe that the audit evidence we have obtained is
reference to the aforesaid standalone financial sufficient and appropriate to provide a basis for our audit
statement under Clause (i) of Sub-section 3 of Section opinion on the Company’s internal financial controls with
143 of the Companies Act, 2013 reference to Standalone Financial Statements.
We have audited the internal financial controls with reference Meaning of Internal Financial Controls with reference
to the Standalone Financial Statements of INTENSE to Standalone Financial Statements
TECHNOLOGIES LIMITED (“the Company”) as of 31st A company’s internal financial controls with reference to
March 2023 in conjunction with our audit of the financial Standalone Financial Statements is a process designed to
statements of the Company for the year ended on that date. provide reasonable assurance regarding the reliability of
financial reporting and the preparation of Standalone Financial
Management’s Responsibility for Internal Financial
Statements for external purposes in accordance with generally
Controls
accepted accounting principles. A company’s internal financial
The Company’s Management is responsible for establishing
control with reference to Standalone Financial Statements
and maintaining internal financial controls with reference to
include those policies and procedures that (1) pertain to the
Standalone Financial Statements based on the internal control
maintenance of records that, in reasonable detail, accurately
over financial reporting criteria established by the Company
and fairly reflect the transactions and dispositions of the
considering the essential components of internal control stated
assets of the company;(2) provide reasonable assurance that
in the Guidance Note on Audit of Internal Financial controls
transactions are recorded as necessary to permit preparation
over Financial Reporting issued by the Institute of Chartered
of Standalone Financial Statements in accordance with
Accountants of India. These responsibilities include the design,
generally accepted accounting principles, and that receipts
implementation and maintenance of adequate internal financial
and expenditures of the company are being made only in
controls that were operating effectively for ensuring the orderly
accordance with authorizations of management and directors of
and efficient conduct of its business, including adherence to
the company; and (3) provide reasonable assurance regarding
the Company’s policies, the safeguarding of its assets, the
prevention or timely detection of unauthorized acquisition,
prevention and detection of frauds and errors, the accuracy
use, or disposition of the company’s assets that could have a
and completeness of the accounting records, and the timely
material effect on the Standalone Financial Statements.
preparation of reliable financial information, as required under
the Act. Inherent Limitations of Internal Financial Controls
with Reference to Standalone Financial Statements
Auditor’s Responsibility
Because of the inherent limitations of internal financial controls
Our responsibility is to express an opinion on the Company’s
with reference to Standalone Financial Statements, including
internal financial controls with reference to Standalone
the possibility of collusion or improper management override
Financial Statements based on our audit. We conducted
of controls, materials misstatements due to error or fraud may
our audit in accordance with the Guidance Note on Audit
occur and not be detected. Also, projections of any evaluation
of Internal Financial Controls over Financial Reporting (the
of the internal financial controls with reference to Standalone
“Guidance Note”) issued by the ICAI and the Standards on
Financial Statements to future periods are subjects to the risk
Auditing, prescribed under Section 143(10) of the Act, to the
that the internal financial controls with reference to Standalone
extent applicable to an audit of internal financial controls
Financial Statements may become inadequate because of
with reference to Standalone Financial Statements. Those
changes in conditions, or that the degree of compliance with
Standards and the Guidance Note require that we comply with
the policies or procedures may deteriorate.
ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether adequate internal financial Opinion
controls with reference to Standalone Financial Statements In our opinion, to the best of our information and according to
were established and maintained and if such controls operated the explanations given to us, the company has, in all material
effectively in all materials respects. respects, an adequate internal financial controls with reference
to Standalone Financial Statements were operating effectively
Our audit involves performing procedures to obtain audit
as at March 31 , 2023, based on the criteria for internal financial
evidence about the adequacy of the internal financial controls
control with reference to Standalone Financial Statements
with reference to Standalone Financial Statements and their

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

established by the company considering the essential the records of the Company, Property tax Receipts
components of internal control stated in the Guidance Note ,the title deeds of immovable properties (other than
on Audit of Internal Financial Controls Over Financial reporting immovable properties where the company is the
issued by the ICAI. lessee and the lease agreements are duly executed
in favor of the lessee) disclosed in the Standalone
Financial Statements are held in the name of the
Company as at the balance sheet date.
For MSPR & CO.,
Chartered Accountants (d) According to the information and explanations
ICAI Firm Registration No: 010152S given to us and on the basis of our examination of
the records of the Company, the Company has not
revalued its Property, plant and equipment (including
Voruganti Madhusudhan Right-of-use assets) or Intangible assets or both
(Partner) during the year.
Membership No: 208701
UDIN:23208701BGVVJC6270 (e) According to the information and explanations given
to us and on the basis of our examination of the
Place: Hyderabad records of the Company, there are no proceedings
Date: 30-May-2023 have been initiated or pending against the Company
for holding any benami property under the Prohibition
of Benami Property Transactions Act, 1988 and rules
Annexure B to the Independent made thereunder.
Auditors’ Report on the Standalone ii. (a) The Company does not have any inventory and
Financial Statements of Intense hence reporting under clause 3(ii)(a) of the order is not
Technologies Limited for the year applicable.

ended 31st March 2023 (b) According to the information and explanations
given to us and on the basis of our examination of
the records of the Company, the Company has been
(Referred to in paragraph 2 under ‘Report on Other Legal and sanctioned working capital limits in excess of five
Regulatory Requirements’ section of our report to the Members crore rupees, in aggregate, from banks on the basis of
of Intense Technologies Limited of even date). security of current assets. In our opinion, the quarterly
To the best of our information and according to the explanations returns or statements filed by the Company with such
provided to us by the company and the books of accounts and banks are in agreement with the books of account of
records examined by us in the normal course of audit, we state the Company.
that: iii. According to the information and explanations given to
i. In respect of the Company’s property, plant and equipment, us and on the basis of our examination of the records
right-of-use assets and intangible assets: of the Company, the company has made investments in
Companies and granted unsecured loans to other parties,
(a) (A) The Company has maintained proper records during the year, in respect of which:
showing full particulars, including quantitative
details and situation of Property, plant and (a) According to the information and explanations given
equipment and relevant details of right-of-use to us and based on the audit procedures carried on by
assets. us and as per the information and explanations given
to us, the Company has granted loans of ` 6,10,384/-
(B) The Company has maintained proper records to one of its subsidiary company.
showing full particulars of intangible assets.
(b) According to the information and explanations given
(b) According to the information and explanations given to us and based on the audit procedures conducted
to us and on the basis of our examination of the by us, we are of the opinion that investments made,
records of the Company, the Company has a regular guarantees provided, security given and the terms
program of physical verification of its property, plant and conditions of the grant of all loans and advances
and equipment by which all Property, plant and in the nature of loans and guarantees provided are,
equipment are verified in a phased manner of once prima facie, not prejudicial to the interest of the
every three years. In accordance with this program, Company.
certain Property, plant, and equipment were verified
during the year. In our opinion, this periodicity of (c) According to the information and explanations given
physical verification is reasonable having regard to to us and on the basis of our examination of the
the size of the Company and the nature of its assets. records of the Company, in the case of in respect of
No material discrepancies were noticed on such loans and advances in the nature of loans given, the
verification. repayment of principal and payment of interest has
been stipulated and the repayments or receipts have
(c) According to the information and explanations been regular.
given to us and on the basis of our examination of

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Annual Report 2022-23
 (d) According to the information and explanations given period of more than six months from the date they
to us and on the basis of our examination of the became payable.
records of the Company, there is no overdue amount
(b) Details of Statutory dues referred to in sub-clause (a)
remaining outstanding as at the balance sheet date.
above which have not been deposited as on March 31,
(e) According to the information and explanations 2023, on account of disputes are given below:
given to us and on the basis of our examination of
the records of the Company, there is no loan granted Nature Forum where
Amount Financial
Statute of dispute is
which has fallen due during the year, which has been Dues
of Due Year
pending
renewed or extended or fresh loans granted to settle
the over dues of existing loans given to the same The
parties. Income Income
51,03,010 2016-17 DCIT, Circle-2(1)
Tax tax
(f) According to the information and explanations given Act,1961
to us and on the basis of our examination of the
records of the Company, the Company has not given viii. According to the information and explanations given to us
any loans either repayable on demand or without and on the basis of our examination of the records of the
specifying any terms or period of repayment during Company, the Company has not surrendered or disclosed
the year. Hence, reporting under clause 3(iii)(f) is not any transactions, previously unrecorded as income in
applicable. the books of account, in the tax assessments under the
Income-tax Act, 1961 as income during the year.
The Company has not made investments in Firms
and Limited Liability Partnerships during the year. ix. (a) According to the information and explanations given
Further the Company has not provided any guarantee to us and on the basis of our examination of the
or security or granted any advances in the nature of records of the Company, the Company has not been
loans, secured or unsecured, to companies, Firms, declared a willful defaulter by any bank or financial
Limited Liability Partnerships or any other parties. institution or government or government authority.

iv. According to the information and explanations given to us (b) According to the information and explanations given
and on the basis of our examination of the records, the to us and on an overall examination of the balance
Company has complied with the provisions of Section 185 sheet of the Company, we report that no funds have
and 186 of the Companies Act, 2013 in relation to loans been raised on short term basis by the Company.
granted, investments made and guarantees and securities Accordingly, clause 3(ix)(b) of the Order is not
provided, as applicable. applicable.
(c) According to the information and explanations given
v. The Company has not accepted any deposits or amounts to us and on an overall examination of the financial
which are deemed to be deposits from the public as per statements of the Company, we report that the
the provisions of sections 73 to 76 or any other relevant Company has not taken any funds from any entity or
provisions of the Companies Act and the rules made person on account of or to meet the obligations of
thereunder. Accordingly, clause 3(v) of the Order is not its subsidiaries as defined under the Companies Act,
applicable. 2013. Accordingly, clause 3(ix)(c) of the Order is not
vi. The maintenance of cost records has not been specified by applicable.
the central government under sub-section (1) of section (d) According to the information and explanations given
148 of the Companies Act, 2013 for the business activities to us and procedures performed by us, we report that
carried out by the company. Hence, reporting under clause the Company has not raised loans during the year
(vi) of the Order is not applicable to the company. on the pledge of securities held in its subsidiaries as
defined under the Companies Act, 2013. Accordingly,
vii. According to the information and explanations given to us, clause 3(ix)(d) of the Order is not applicable.
in respect of statutory dues:
x. (a) The Company has not raised any moneys by way of
(a) In our opinion, the Company has generally been initial public offer or further public offer (including
regular in depositing undisputed statutory dues, debt instruments) during the year. Accordingly, clause
including Goods and Services Tax, provident fund, 3(x)(a) of the Order is not applicable.
employees’ state insurance, Income tax, Sales tax,
Service tax, duty of customs, duty of excise, Value (b) The Company has made preferential allotment of
added tax, Cess and other material statutory dues to shares during the year, which is in accordance with
it with the appropriate authorities. the requirements of section 42 and section 62 of the
Companies Act, 2013 and the funds raised have been
There were no undisputed amounts payable in used for the purposes for which the funds were raised.
respect of Goods and Services Tax, provident fund, Company has not issued any convertible debentures
employees’ state insurance, Income tax, Sales tax, (fully, partially or optionally convertible) during the
Service tax, duty of customs, duty of excise, duty of year.
Custom, Value added tax, Cess and other material
statutory dues in arrears as at March 31, 2023 for a xi. (a) Based on examination of the books and records of
the Company and according to the information and

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Annual Report 2022-23
 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

explanations given to us, considering the principles accompanying the financial statements, our knowledge
of materiality outlined in Standards on Auditing, of the Board of Directors and management plans and
we report that no fraud by the Company or on the based on our examination of the evidence supporting the
Company has been noticed or reported during the assumptions, nothing has come to our attention, which
course of the audit. causes us to believe that any material uncertainty exists
as on the date of the audit report that the Company is
(b) According to the information and explanations given
not capable of meeting its liabilities existing at the date of
to us, no report under sub-section (12) of Section
balance sheet as and when they fall due within a period of
143 of the Companies Act, 2013 has been filed by the
one year from the balance sheet date. We, however, state
auditors in Form ADT-4 as prescribed under Rule 13 of
that this is not an assurance as to the future viability of the
Companies (Audit and Auditors) Rules, 2014 with the
Company. We further state that our reporting is based on
Central Government.
the facts up to the date of the audit report and we neither
(c) We have taken into consideration the whistleblower give any guarantee nor any assurance that all liabilities
complaints received by the Company during the year falling due within a period of one year from the balance
(and upto the date of this report), while determining sheet date, will get discharged by the Company as and
the nature, timing, and extent of our audit procedures. when they fall due.
xii. According to the information and explanations given to us, xx. In our opinion and according to the information and
the Company is not a Nidhi Company. Accordingly, clause explanations given to us, there are no unspent amounts
3(xii) of the Order is not applicable. towards Corporate Social Responsibility (“CSR”) under
sub-section (5) of Section 135 of the Companies Act, 2013
xiii. In our opinion and according to the information and
pursuant to any project. Accordingly, clauses 3(xx)(a) and
explanations given to us, the transactions with related
3(xx)(b) of the Order are not applicable.
parties are in compliance with Sections 177 and 188 of the
Companies Act, 2013, where applicable, and the details xxi. The requirement to report on clause 3(xxi) of the Order is
of the related party transactions have been disclosed in not applicable to the Standalone Financial Statements of
the Standalone Financial Statements as required by the the company.
applicable Indian Accounting Standards.
For MSPR & CO.,
xiv. (a) Based on information and explanations provided Chartered Accountants
to us and our audit procedures, in our opinion, the ICAI Firm Registration No: 010152S
Company has an internal audit system commensurate
with the size and nature of its business.
Voruganti Madhusudhan
(b) We have considered the internal audit reports of the
(Partner)
Company issued till date for the period under audit.
Membership No: 208701
xv. In our opinion and according to the information and UDIN:23208701BGVVJC6270
explanations given to us, the Company has not entered
into any non-cash transactions with its directors or persons Place: Hyderabad
connected to its directors and hence, provisions of Section Date: 30-May-2023
192 of the Companies Act, 2013 are not applicable to the
Company.
xvi. (a) The Company is not required to be registered under
Section 45-IA of the Reserve Bank of India Act, 1934.
Accordingly, clause 3(xvi)(a),(b) and (c) of the Order
is not applicable.
(b) The Company is not a Core Investment Company
(CIC) as defined in the regulations made by the
Reserve Bank of India. Accordingly, clause 3(xvi)(d)
of the Order is not applicable.
xvii. The Company has not incurred cash losses in the
current and in the immediately preceding financial year.
Accordingly, clause 3(xvii) of the Order is not applicable.
xviii. There has been no resignation of the statutory auditors
during the year. Accordingly, clause 3(xviii) of the Order is
not applicable.
xix. According to the information and explanations given
to us and on the basis of the financial ratios, ageing
and expected dates of realization of financial assets
and payment of financial liabilities, other information

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Annual Report 2022-23
 Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Standalone Balance Sheet as on 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)
As at As at
Particulars Note
31.03.2023 31.03.2022
A. ASSETS
(1) Non-Current Assets
(a) Property, Plant and Equipment 3 43,494 33,794
(b) Intangible Assets Under Development 4 194,245 119,245
(c) Financial Assets
(i) Investments 5 275,124 275,152
(ii) Other Financial Assets 6 235,832 220,280
(d) Deferred tax assets (net) 7 15,101 12,195
(e) Other non-current assets 8 8,274 6,610
Total Non-Current Assets 772,070 667,276
(2) Current Assets
(a) Financial Assets
(i) Trade Receivables 9 477,242 399,503
(ii) Cash & Cash equivalents 10 103,113 205,196
(iii) Other Financial Assets 11 22,902 1,630
(b) Current tax assets 12 91,240 68,634
(c) Other current assets 13 34,745 23,433
Total Current Assets 729,242 698,396
Total Assets 1,501,312 1,365,672
B. EQUITY AND LIABILITIES
(1) Equity
(a) Equity Share capital 14 46,935 44,914
(b) Other Equity 15 1,062,318 959,813
Total Equity 1,109,253 1,004,727
(2) Liabilities
Non-Current Liabilities
(a) Financial liabilities
(i) Borrowings 16 2,587 1,417
(b) Provisions 17 62,218 49,276
Total Non-current Liabilities 64,805 50,693
Current Liabilities
(a) Financial liabilities
(i) Trade Payables 18
Total outstanding dues of MSME 17,180 2,488
Total outstanding dues of creditors other than MSME 224,074 182,791
(ii) Other current financial liabilities 19 1,495 8,010
(b) Other current liabilities 20 84,505 116,963
Total Current Liabilities 327,254 310,252
Total Equity and Liabilities 1,501,312 1,365,672
Summary of significant accounting policies 2
The accompanying notes are an integral part of the financial statements. As per our Report of even date attached.
MSPR & Co., For and on behalf of the Board of Directors of
Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn. No. 010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No. 208701 DIN: 00329398 DIN: 00329597
UDIN: 23208701BGVVJC6270

Date: 30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

Intense Technologies Limited

118
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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Statement of Standalone Profit & Loss for the Year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)
Year Ended Year Ended
Particulars Note
31.03.2023 31.03.2022
Revenue
Revenue from Operations 21 860,759 800,220
Other Income 22 12,380 8,928
Total Income 873,139 809,148

Expenses
Operating Expenses 23 163,959 76,947
Employee Benefits Expense 24 414,040 374,980
Financial Cost 25 2,310 4,294
Depreciation and amortization Expense 3&3A 15,393 9,949
Other Expenses 26 154,573 135,478
Total Expenses 750,275 601,648

Profit/(Loss) before Tax 122,864 207,500

Tax Expense 27
Income Tax 30,475 51,682
Deferred Tax Asset/(Liability) 2,906 584
Profit/(Loss) for the period 95,295 156,402

Other comprehensive income 28

Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability / asset (net of taxes) (12,080) (715)
Exchange differences on translation of foreign operations 2,172 665
Items that will be reclassified subsequently to profit or loss
Equity instruments through other comprehensive income 319 (655)
Total other comprehensive income, net of tax (9,589) (705)
Total comprehensive income for the period 85,706 155,697
Earnings per equity share (Face Value ` 2/- each) 29
Basic ` 4.06 6.96
Diluted ` 4.06 6.96
Weighted average equity shares used in computing earnings per equity share
Basic 23,467 22,457
Diluted 23,467 22,463
Significant accounting policies 2
The accompanying notes are an integral part of the financial statements. As per our Report of even date attached.
MSPR & Co., For and on behalf of the Board of Directors of
Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn. No. 010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No. 208701 DIN: 00329398 DIN: 00329597
UDIN: 23208701BGVVJC6270

Date: 30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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 Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Standalone Statement of Cash Flow for the Year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature,
any deferrals, or accruals of past or future operating cash receipts or payments, and item of income or expenses associated with investing
or financing cash flows. The cash flows from operating, investing, and financing activities of the Company are segregated. The Company
considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents.
Year ended Year ended
Particulars
31.03.2023 31.03.2022
A) Cash Flow from operating Activities
Net Profit/(Loss) before tax 122,864 207,500
Adjustment for:
Depreciation 15,393 9,949
Equity instruments through other comprehensive income 319 (655)
Re-measurement gains/(losses) on employee defined benefit plans (12,080) (715)
Exchange differences on translation of foreign operations 2,172 665
Income Tax (27,569) (51,097)
Other Income (12,380) (8,928)
Operating Profit/(Loss) before working capital changes 88,719 156,719
Adjustment for:
(Increase)/Decrease in Trade Receivables (77,739) 106,735
(Increase)/Decrease in Other Current Assets (55,191) (29,317)
Increase/(Decrease) in Current Liabilities 17,002 (20,832)
Cash generated from Operations (27,209) 213,305
Prior Period Items - (1,363)
Net Cash Flow from Operating Activities (27,209) 211,942

B) Cash Flow from investing Activities

(Increase)/Decrease in Fixed Assets (25,093) (12,775)
(Increase)/Decrease in Non-current Investments 28 (60)
(Increase)/Decrease in Fixed Deposits & Mutual Funds (20,121) (55,655)
Increase/(Decrease) in Non-current Liabilities 14,114 (1,811)
(Increase)/Decrease in Intangible Assets Under Development (75,000) (59,600)
Other Income Received 12,380 8,928
Net Cash used in investing activities (93,692) (120,973)

C) Cash Flow from Financing Activities

Increase/(Decrease) in Share Capital 2,021 66
Increase/(Decrease) in Share Application Money (9,233) 9,233
Increase/(Decrease) in Share Premium 35,014 -
Dividend (8,984) (8,984)
Net cash generated from Financing Activities 18,818 315
Cash & Cash equivalents utilized (A+B+C) (102,083) 91,284
Cash & Cash equivalents (Opening Balance) 205,196 113,912
Cash & Cash equivalents (Closing Balance) 103,113 205,196
As per our Report of even date attached.
MSPR & Co., For and on behalf of the Board of Directors of
Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn. No. 010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No. 208701 DIN: 00329398 DIN: 00329597
UDIN: 23208701BGVVJC6270

Date: 30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

Intense Technologies Limited

120
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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(a) Equity share capital

Particulars Amount (in thousands)

Balance as at 1 April 2020 44,816
Changes in equity share capital during the period 32
Balance as at 1 April 2021 44,848
Changes in equity share capital during the period 66
Balance as at 1 April 2022 44,914
Changes in equity share capital during the period 2,021
Balance as at the 31st March 2023 46,935

b) Other equity

Reserves and surplus Other comprehensive income

Share
Application Equity Total
Particulars Money Securities Remeasurements instruments
Share Retained equity
pending premium ESOP's of the net defined through other
allotment Warrants earnings
reserve benefit plans comprehensive
income
As at April 01, 2020 - 295,557 20,803 - 432,476 (28,231) (16,014) 704,591
Add: Profit for the year - - - - 100,631 - - 100,631
Other comprehensive - - - - (84) 92 8
income -
Addition made during - - - - - - - -
the year
Balance at 31st March - 295,557 20,803 - 533,107 (28,315) (15,922) 805,229
2021
Add: Profit for the year - - - - 146,056 - - 146,056
Other comprehensive - - - - - (50) (655) (706)
income
Addition made during 9,233 - - - - - - 9,233
the year
Balance at 31st March 9,233 295,557 20,803 - 679,163 (28,365) (16,577) 959,813
2022
Add: Profit for the year - - - - 86,312 - - 86,312
Other comprehensive - - - - - (12,080) 2,491 (9,589)
income
Addition made during ( 9,233) 35,014 - - - - - 25,782
the year
Balance at 31st March - 330,571 20,803 - 765,475 (40,445) (14,086) 1,062,318
2023

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

1. Company Overview
Intense Technologies Limited (the Company) is a public limited company domiciled and incorporated in India under the
Companies Act, 1956 and has its registered Office at A1, Vikrampuri, Secunderabad – 500 009. The company has its primary
listings on BSE Limited and NSE Limited. The company is engaged in the business of developing software products that are
designed for data analytics and providing tech-enabled services for organizations. The company platform is cloud-based and
designed to seamlessly integrate with varied client’s existing systems.
2. Significant accounting policies
2.1 Basis of preparation of Financial Statements
These Standalone Financial Statements are prepared in accordance with Indian Accounting Standard (Ind AS), under the
historical cost convention on accrual basis, except for certain financial instruments which are measured at fair values, the
provisions of the Companies Act, 2013 (‘’the Act’’) and guidelines issued by the Securities and Exchange Board of India
(SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian Accounting
Standards) Rules, 2015 and relevant amendment rules issued thereafter.
Accounting policies have been consistently applied, except where a newly issued accounting standard is initially adopted
or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use. The Financial
statements are presented in Indian Rupees unless otherwise stated.
2.2 Summary of significant accounting policies
(a) Use of Estimates
The preparation of Standalone Financial Statements requires estimates on assumptions to be made that affect the
reported amount of assets and liabilities and the disclosure relating to Contingent assets and liabilities as on date
of financial statements and reported amount of Revenue and expenses during the reported period. Management
believes that the estimates used in the preparation of financial statements are prudent and reasonable. Actual
results could differ from these estimates and differences between the actual results and estimates are recognized
where the results are known or materialized.
(b) Operating Cycle
The Company presents assets and liabilities in the balance sheet based on current/ non-current classification.
An asset is treated as current when it is:
• Expected to be realised or intended to be sold or consumed in normal operating cycle.
• Held primarily for the purpose of trading.
• Expected to be realised within twelve months after the reporting period, or
• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period.
All other assets are classified as non-current.
A liability is current when:
• It is expected to be settled in a normal operating cycle.
• It is due to be settled within twelve months after the reporting period, or
• There is no unconditional right to defer the settlement of the liability for at least twelve months after the
reporting period.
The Company classifies all other liabilities as non-current.
The Company has identified twelve months as its operating cycle.
(c) Foreign currencies transactions
The financial statements are presented in Indian rupees, which is also the functional currency of the Company and
the currency of the primary economic environment in which the Company operates.
(d) Transactions and balances
Transactions in foreign currencies are initially recorded at their respective functional currency spot rates at the date
the transaction first qualifies for recognition. Monetary assets and liabilities denominated in foreign currencies are
translated into the functional currency at spot rates of exchange at the reporting date.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(e) Fair value measurement

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption
that the transaction to sell the asset or transfer the liability takes place either:
In the principal market for the asset or liability, or
In the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the
most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value
measurement as a whole:
Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
directly or indirectly observable.
Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is
unobservable.
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the lowest
level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
For the purpose of fair value disclosures, the Company has determined classes of assets and liabilities on the basis of
the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained above.
(f) Revenue recognition
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and
the revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the
fair value of the consideration received or receivable, taking into account contractually defined terms of payment
and excluding taxes or duties collected on behalf of the government. The specific recognition criteria described
below must also be met before revenue is recognised.
The Company’s contracts with customers include an obligation to transfer multiple products and provision of
services to a customer. Revenues from customer contracts are considered for recognition and measurement when
the contract has been approved, in writing, by the parties to the contract, the parties to contract are committed to
perform their respective obligations under the contract, and the contract is legally enforceable.
The Company derives revenues primarily from IT services comprising software development and related services,
cloud and infrastructure services, maintenance, consulting and licensing of software products.

Revenue from licenses where the customer obtains a “right to use” the licenses is recognized at the time the
license is made available to the customer. Revenue from licenses where the customer obtains a “right to access” is
recognized over the access period.

The Company presents revenues net of indirect taxes in its Statement of Profit and Loss.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Sale of Products
Revenue from Sale of Products is recognised when control of the goods are constructively transferred to the
customer at an amount that reflects the consideration entitled in exchange for those goods.

Sale of services
Revenue from provision of services is recognised based on completion of defined milestones in contracts
executed with customers and approved by customer.

Interest income
Interest income is recognised on a time proportion basis taking into account the amount outstanding and the
applicable interest rate. Interest income is included under the head “other income” in the statement of profit and
loss.
Dividend income
Dividend income is recognised when the Company’s right to receive the payment is established, which is generally
when shareholders approve the dividend.
Other income
Revenue in respect of other income is recognized when a reasonable certainty as to its realization exists.
(g) Taxes on Income
Income-tax expense comprises of current tax (i.e., amount of tax for the period determined in accordance with
the income-tax law), Company opted Tax rate U/s 115BAA and deferred tax charge or credit (reflecting the tax
effects of timing differences between accounting income and taxable income for the period).
The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the
tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax
assets are recognised only to the extent there is a reasonable certainty that the assets can be realised in future;
However, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets
are recognised only if there is a virtual certainty supported by convincing evidence that sufficient future taxable
income will be available against which such deferred tax assets can be realised. Deferred tax assets are reviewed
as at the balance sheet date and written down or written up to reflect the amount that is reasonably/virtually
certain (as the case may be) to be realised.
Current tax and deferred tax assets and liabilities are offset to the extent to which the Company has a legally
enforceable right to set off and they relate to taxes on income levied by the same governing taxation laws.
(h) Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs
directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as
intended by the Management. The charge in respect of periodic depreciation is derived after determining an
estimate of an asset’s expected useful life and the expected residual value at the end of its life.
When the tax incurred on purchase of assets is not recoverable from the taxation authority, the tax paid is
recognised as part of the cost of acquisition of the asset.
Repairs and maintenance costs are recognized in the Statement of Profit and Loss when incurred.
Depreciation on fixed assets is provided on a written down value method based on the useful lives estimated by
the management which are in accordance with Schedule II to the Companies Act, 2013.The management believes
that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are
likely to be used.
An item of property, plant and equipment and any significant part initially recognised is derecognised upon
disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on
derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying
amount of the asset) is included in the income statement when the asset is derecognised.
The residual values and useful lives of property, plant and equipment are reviewed at each financial year end and
adjusted prospectively, if appropriate.

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(i) Intangible assets

Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets with finite
lives are amortized over the useful economic life and assessed for impairment. The amortization period and
the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period. The amortization expense on intangible assets with finite lives is recognised on a straight-line
basis from the date that they available for use in the statement of profit and loss unless such expenditure forms
part of the carrying value of another asset.
Research costs are expensed as incurred. Software product development costs are expensed as incurred unless
technical and commercial feasibility of the project is demonstrated, the future economic benefits are probable,
the Company has an intention and ability to complete and use or sell the software, and the costs can be measured
reliably. The costs which can be capitalized include the cost of material, direct labor, and overhead costs that are
directly attributable to prepare the asset for its intended use.
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit or loss when
the asset is derecognised.
Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their
carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the
higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis.
If such assets are considered to be impaired, the impairment to be recognized in the Statement of Profit and Loss
is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount
of the asset. An impairment loss is reversed in the Statement of Profit and Loss if there has been a change in the
estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised
recoverable amount, provided that this amount does not exceed the carrying amount that would have been
determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior
years.
(j) Leases
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement
at the inception of the lease. The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent
on the use of a specific asset or assets and the arrangement conveys a right to use the asset or assets, even if that
right is not explicitly specified in an arrangement.
For arrangements entered into prior to April 1, 2016, the Company has determined whether the arrangement contains
lease on the basis of facts and circumstances existing on the date of transition.
Company as a lessee
A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially
all the risks and rewards incidental to ownership to the Company is classified as a finance lease.
Operating lease payments are recognised as an expense in the statement of profit and loss on a straight-line basis
over the lease term.

(k) Provisions
General
Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a
past event, it is probable that an outflow of resources embodying economic benefits will be required to settle
the obligation and a reliable estimate can be made of the amount of the obligation. The expense relating to a
provision is presented in the statement of profit and loss net of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision
due to the passage of time is recognised as a finance cost.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(l) Employee benefits

Employee benefits payable wholly within twelve months of receiving employee services are classified as short-
term employee benefits. These benefits include salaries and wages, bonus and ex-gratia. The undiscounted
amount of short-term employee benefits to be paid in exchange for employee services is recognised as an
expense as the related service is rendered by employees.
Retirement benefit in the form of provident fund is a defined contribution scheme. The Company has no
obligation other than the contribution payable to the provident fund. The Company recognizes contribution
payable to the provident fund scheme as an expense when an employee renders the related service.
The Company provides defined benefit gratuity plan for the employees in India, which requires contributions to be
made to a separately administered fund.
Liabilities with regard to these defined benefit plans are determined by actuarial valuation, performed by an
external actuary, at each Balance Sheet date using the projected unit credit method. These defined benefit plans
expose the Company to actuarial risks, such as longevity risk, interest rate risk and market risk.
Remeasurements, comprising of actuarial gains and losses, are recognized immediately in the balance sheet
with a corresponding debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.
(m) Dividends
Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim dividends
are recorded as a liability on the date of declaration by the Company’s Board of Directors.
(n) Earning per share:
The Company presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic EPS is
calculated by dividing the profit or loss attributable to ordinary shareholders of the company by the weighted
average number of ordinary shares outstanding during the period. Diluted EPS is determined by adjusting the profit
or loss attributable to ordinary shareholders and the weighted average number of ordinary shares outstanding for
the effect of all dilutive potential ordinary shares, which include all stock options granted to employees.
(o) Provisions and contingent liabilities
Restructuring
A provision for restructuring is recognised when the Company has approved a detailed and formal restructuring
plan, and the restructuring either has commenced or has been announced publicly. Future operating costs are not
provided.
Onerous contracts
A provision for onerous contracts is recognised when the expected benefits to be derived by the Company from
a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is
measured at the present value of the lower of the expected cost of terminating the contract and the expected net
cost of continuing with the contract. Before a provision is established, the Company recognizes any impairment loss
on the assets associated with that contract.
Reimbursement rights
Expected reimbursements for expenditures required to settle a provision are recognised only when receipt of such
reimbursements is virtually certain. Such reimbursements are recognised as a separate asset in the balance sheet,
with a corresponding credit to the specific expense for which the provision has been made.
Contingent liabilities
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may,
but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation
in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
(p) Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Financial assets
Initial recognition and measurement

(i) Financial assets carried at amortized cost.

A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective
is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

(ii) Financial assets carried at fair value through other comprehensive income (FVTOCI).
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding. The Company has made an irrevocable election for
its investments, which are classified as equity instruments to present the subsequent changes in fair value in other
comprehensive income based on its business model.

(iii) Financial assets carried at fair value through profit or loss (FVTPL).
A financial asset, which is not categorized in any of the above categories, is subsequently fair valued through
profit or loss. All financial assets are recognised initially at fair value plus associated transaction costs, in the case
of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a
time frame established by regulation or convention in the marketplace (regular way trades) are recognised on the
trade date, i.e., the date that the Company commits to purchase or sell the asset.

Subsequent measurement
For purposes of subsequent measurement, a ‘debt instrument’ is measured at the amortized cost if both the
following conditions are met:
The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows,
and Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding.
After initial measurement, such financial assets are subsequently measured at amortized cost using the effective
interest rate (EIR) method. Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included in finance
income in the profit or loss. The losses arising from impairment are recognised in the profit or loss. This category
generally applies to trade and other receivables.

Equity investments:
In respect of equity investments, when an entity prepares separate financial statements, Ind AS 27 requires it to
account for its investments in subsidiaries and associates either:

(a) at cost; or
(b) in accordance with Ind AS 109.

If a first-time adopter measures such an investment at cost in accordance with Ind AS 27, it shall measure that
investment at one of the following amounts in its separate opening Ind AS Balance Sheet:

(a) Cost determined in accordance with Ind AS 27; or

(b) Deemed cost. The deemed cost of such an investment shall be its:

fair value at the entity’s date of transition to Ind ASs in its separate financial statements; or
previous GAAP carrying amount at that date.
A first-time adopter may choose either (i) or (ii) above to measure its investment in each subsidiary or associate
that it elects to measure using a deemed cost.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Since the company is a first-time adopter, it has measured its investment in subsidiary and associate at deemed
cost in accordance with Ind AS 27 by taking previous GAAP carrying amount.

Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised (i.e. removed from the Company’s balance sheet) when:

a) the rights to receive cash flows from the asset have expired, or
b) the Company has transferred its rights to receive cash flows from the asset, and

the Company has transferred substantially all the risks and rewards of the asset, or
the Company has neither transferred nor retained substantially all the risks and rewards of the asset but has
transferred control of the asset.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss on the following financial assets and credit risk exposure on trade receivables or
any contractual right to receive cash or another financial asset that result from transactions that are within the
scope of Ind AS 18.
ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the
statement of profit and loss (P&L).

Financial liabilities
Initial recognition and measurement
All financial liabilities are recognised initially at fair value and in the case of loans, borrowings and payables are
recognised net of directly attributable transaction costs.

Subsequent measurement
Financial liabilities are subsequently carried at amortized cost using the effective interest method. For trade and
other payables maturing within one year from the Balance Sheet date, the carrying amounts approximate fair
value due to the short maturity of these instruments.

Derecognition
Financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as
the derecognition of the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognised in the consolidated statement of profit and loss.
(q) Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, demand deposits and short-term, highly liquid investments
that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in
value. For this purpose, “short-term” means investments having maturity of three months or less from the date of
investment. Bank overdrafts that are repayable on demand and form an integral part of our cash management are
included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash flows.
(r) Subsequent Events:
There are no significant events that occurred after the balance sheet date.

(s) Recent accounting Pronouncements:

The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards under
Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023, MCA amended
the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:
Ind AS 1, Presentation of Financial Statements – This amendment requires the entities to disclose their material
accounting policies rather than their significant accounting policies. The effective date for adoption of this

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment
and the impact of the amendment is insignificant in the Standalone Financial Statements.
Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors – This amendment has introduced a
definition of ‘accounting estimates’ and included amendments to Ind AS 8 to help entities distinguish changes in
accounting policies from changes in accounting estimates. The effective date for adoption of this amendment is
annual periods beginning on or after April 1, 2023. The Company has evaluated the amendment and there is no
impact on its Standalone Financial Statements.
Ind AS 12, Income Taxes – This amendment has narrowed the scope of the initial recognition exemption so that it
does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for
adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the
amendment and there is no impact on its Standalone Financial Statements.
3. Property, plant and equipment

Furniture Total
Freehold Office
Computers and Vehicles Tangible
buildings equipment
fittings Assets
Cost
At April 01, 2020 15,725 212,783 18,240 19,239 9,742 275,729
Additions - 7,997 212 - - 8,209
Disposals/ Adjustments - - - - - -
At March 31, 2021 15,725 220,780 18,452 19,239 9,742 283,938
Additions - 12,775 - - - 12,775
Disposals/ Adjustments - - - - - -
At March 31, 2022 15,725 233,555 18,452 19,239 9,742 296,713
Additions - 21,979 223 - 3,158 25,359
Disposals/ Adjustments - - 549 - 1,149 1,698
At March 31, 2023 15,725 255,534 18,126 19,239 11,750 320,375

Furniture Total
Freehold Office
Computers and Vehicles Tangible
buildings equipment
fittings Assets
Depreciation/amortisation
At April 01, 2020 10,125 196,839 17,048 19,042 3,981 247,035
Charge for the year 273 4,083 530 29 1,021 5,936
Disposals/ Adjustments - - - - - -
At March 31, 2021 10,398 200,922 17,578 19,071 5,002 252,971
Charge for the year 259 8,425 369 37 859 9,949
Disposals/ Adjustments - - - - - -
At March 31, 2022 10,657 209,347 17,947 19,108 5,861 262,920
Charge for the year 247 13,347 215 25 1,559 15,393
Disposals/ Adjustments - - 521 - 911 1,432
At March 31, 2023 10,903 222,695 17,641 19,132 6,509 276,881
Furniture Total
Freehold Office
Computers and Vehicles Tangible
buildings equipment
fittings Assets
Net Block
At April 01, 2020 5,600 15,944 1,192 197 5,761 28,695
At March 31, 2021 5,327 19,858 874 168 4,740 30,967
At March 31, 2022 5,068 24,208 505 131 3,881 33,793
At March 31, 2023 4,822 32,839 484 108 5,241 43,494

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
4. Intangible Assets Under Development
Intangible Assets Under Development 194,245 119,245
Total 194,245 119,245
5 Non-current Investments
Unquoted,Valued at cost
a) Investment in Subsidiaries
Intense Technologies FZE 69,555 69,555
(3,779 Shares @ Face Value of 1000 AED)
Intense Technologies U.K. Limited 111,160 111,160
(12,46,460 Shares @ Face Value of 1 GBP)
Intense Technology INC 94,100 94,100
(14,43,000 Shares @ Face Value of 1 USD)
Reasy Pte Ltd, Singapore 55 55
(1000 shares @ Face Value of 1 SGD)
b) Investments in Listed Entities
Quoted & Valued at FVTOCI
Investments in equity shares in other listed entities 254 282
(Invested in Various securities in various dates)
Total 275,124 275,152
6 Others Financials Assets - Non-current
Bank deposits with more than 12 months
i) In Deposit Accounts 171,204 180,997
ii) Investments in Mutual Funds 64,628 39,283
Total 235,832 220,280
7 Deferred tax assets (net)
Deferred tax assets
Accrued employee benefits 15,656 12,382
Other timing differences - (165)
A 15,656 12,217
Deferred tax liability
Unabsorbed depreciation (555) (22)
B (555) (22)
Total 15,101 12,195
8 Other Non-Current Assets
a) Security & Other Deposits 3,513 4,298
b) EMDs 4,761 2,312
Total 8,274 6,610

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
9 Trade Receivables- Unsecured considered good
- Unsecured, considered good 477,242 399,503
Total 477,242 399,503
Includes due from Subsidiaries 23,079 -
Trade Receivables ageing schedule as at March 31, 2023
Outstanding for the following periods from due date of payment
Particulars Less than 6 months - More than
1-2 Years 2-3 Years Total
6 months 1 year 3 Years
Undisputed trade receivables - 341,003 76,911 26,421 9,809 23,098 477,242
considered good
Undisputed trade receivables - - - - - - -
considered doubtful
Disputed trade receivables - - - - - - -
considered good
Disputed trade receivables - - - - - - -
considered doubtful
341,003 76,911 26,421 9,809 23,098 477,242
Trade Receivables ageing schedule as at March 31, 2022
Outstanding for the following periods from due date of payment
Particulars Less than 6 months - More than
1-2 Years 2-3 Years Total
6 months 1 year 3 Years
Undisputed trade receivables - 309,668 22,582 38,108 15,498 13,647 399,503
considered good
Undisputed trade receivables - - - - - - -
considered doubtful
Disputed trade receivables - - - - - - -
considered good
Disputed trade receivables - - - - - - -
considered doubtful
309,668 22,582 38,108 15,498 13,647 399,503

10 Cash and Cash equivalents

a) Cash on hand 45 45
b) Balance with Banks
i) In Current Accounts 103,068 205,151
Total 103,113 205,196
11 Other financial assets- Current
Other loans and advances:
a) Loans & Advances to Subsidiaries 610 326
b) Advance for Purchases 20,875 238
c) Staff Advances 1,417 1,066
Total 22,902 1,630

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
12 Current tax Assets
TDS Receivable (Previous Years) 52,662 43,531
TDS Receivable (Current Year) Net 38,578 25,103
Total 91,240 68,634
13 Other Current Assets
a) Other Advances
- Balances with statutory/government authorities 8,309 8,309
- Prepaid expenses 26,436 15,124
Total 34,745 23,433
14 SHARE CAPITAL
2023 2022
No.of Shares (Amount in `) No.of Shares (Amount in `)
a) Authorised Share Capital
Equity Shares of ` 2/- each 250,000,000 500,000,000 250,000,000 500,000,000
250,000,000 500,000,000 250,000,000 500,000,000
b) Issued, subscribed and fully paid up
Share capital
Equity Shares of ` 2/- each 23,467,449 46,934,898 22,456,949 44,913,898
23,467,449 46,934,898 22,456,949 44,913,898
c) Rights of shareholders:
The Company has only one class of equity shareholders. Each holder of equity shares is entitled to one vote per share.

d) Reconciliation of the shares outstanding at the beginning and at the end of the year
2023 2022
No.of Shares (Amount in `) No.of Shares (Amount in `)
Equity Shares
At the beginning of the year 22,456,949 44,913,898 22,423,949 44,847,898
Add: Issue of shares 1,010,500 2,021,000 33,000 66,000
At the end of the year 23,467,449 46,934,898 22,456,949 44,913,898
23,467,449 46,934,898 22,456,949 44,913,898
e) Shareholders holding more than 5% shares in the Company
2023 2022
Name of the shareholder
No.of Shares % of holding No.of Shares % of holding
1. C.K.Shastri 2,528,592 10.77 1,728,592 7.70
2. Tikam Sujan 2,237,642 9.53 2,237,642 9.96
3. Jayant Dwarkanth 1,295,635 5.52 1,295,635 5.77
*8,00,000 equity shares were allotted to Mr. Krishna Shastri Chidella, upon conversion of Warrants allotted under Preferential basis by the
Company on 22nd February, 2023 and Listing & Trading Approvals from Stock Exchanges (Both BSE & NSE) were given on 20th June, 2023

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
15 Other Equity
Share Premium 330,571 295,557
Warrants Forfeiture 20,803 20,803
Share Warrants Money - 9,233
Retained Earnings (27,844) (18,862)
Prior Period Adjustments (1,674) (1,674)
Balance in Profit & Loss Account 740,462 654,756
Total 1,062,318 959,813
16 Borrowings- Financial Liabilities Non-current
Secured
(a) From banks
(i) Term loans - -
(ii) Equipment and vehicle loans 2,587 1,417
Total 2,587 1,417
17 Non-current Provisions
Provision for employee benefits:
Gratuity – Net benefit Obligation 56,156 43,750
Compensated absences 6,049 5,449
Other Provisions 13 77
Total 62,218 49,276
18 Trade Payables
Total Outstanding dues of MSME 17,180 2,488
Total Outstanding dues of Creditors other than MSME* 224,074 182,791
241,254 185,279
*Includes due to Subsidiaries 200,256 171,517

The information as required to be disclosed pursuant under the Micro, Small and Medium Enterprises Development
Act, 2006 (MSMED Act, 2006) has been determined to the extent such parties have been identified based on the
information available with the Company.
Amount remaining unpaid:
Principal 17,180 2,488

Interest - -
Interest paid by the Company under MSMED Act, 2006 along with the amounts - -
of the payment made to the supplier beyond the appointed day
Interest due and payable for the period of delay in making payment (which has - -
been paid but beyond the appointed day during the year) but without adding the
interest specified under the MSMED Act, 2006;
Interest accrued and remaining unpaid at the end of the year - -

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
Interest remaining due and payable (pertaining to prior years), until such date - -
when the interest dues as above are actually paid to the small enterprise, for the
purpose of disallowance as a deductible expenditure under Section 23 of MSMED
Act 2006.
Trade Payables ageing schedule as at March 31, 2023
Outstanding for the following periods from due date of payment
Particulars Less than More than
1-2 Years 2-3 Years Total
1 year 3 Years

MSME 17,180 - - - 17,180

Others 18,674 4,633 - 511 23,818
Subsidiaries 28,739 22,149 93,899 55,469 200,256
Disputed Dues - MSME - - - - -
Disputed Dues - Others - - - - -
64,593 26,782 93,899 55,980 241,254
Trade Payables ageing schedule as at March 31, 2022
Outstanding for the following periods from due date of payment
Particulars Less than More than
1-2 Years 2-3 Years Total
1 year 3 Years

MSME 2,488 - - - 2,488

Others 10,763 - - 511 11,274
Subsidiaries 22,149 93,899 55,469 - 171,517
Disputed Dues - MSME - - - - -
Disputed Dues - Others - - - - -
35,400 93,899 55,469 511 185,279

19 Other current financial liabilities

Term loans - 6,481
Equipment and vehicle loans 1,495 1,529
Total 1,495 8,010
20 Other Current Liabilities
Advance from Customers 705 480
Provision for Expenses 61,260 69,348
Statutory Dues Payable 22,540 47,135
Total 84,505 116,963

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
21 Revenue from operations
Revenue from operations 860,759 800,220
Total 860,759 800,220
22 Other Income
Interest 9,774 5,421
Foreign Exchange Fluctuations 1,099 2,575
Expected Return on Plan Assets 852 724
Profit on Sale of Vehicle 492 -
Profit on Sale of Office Equipment 158 -
Dividend Received 5 4
Misc Receipts - 204
Total 12,380 8,928
23 Operating Expenses
Purchase of Products 101,244 22,858
Support Services 53,602 48,311
Electricity Charges 4,903 3,375
Repairs & Maintenance 1,813 1,178
AMC Charges 1,395 173
Consumables 1,002 1,052
Total 163,959 76,947
24 Employee Benefits Expense
Salaries 366,711 337,716
Gratuity 9,731 9,159
Group Medical Insurance to Staff 17,790 8,591
Contribution to Provident and other Funds 12,782 11,376
Leave Encashment Expense 600 600
Staff Welfare 6,426 7,538
Total 414,040 374,980
25 Financial Costs
Interest
- On Term Loan 155 1,049
- On Vehicle Loan 251 323
- On OD A/c - 43
- On Others 473 -
Bank Charges & Commission 1,431 2,879
Total 2,310 4,294

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
26 Other Expenses
Professional Charges 43,611 40,469
Directors Remuneration 45,044 46,903
Rent 20,393 21,451
Travelling Expenses 11,747 5,023
Rates & Taxes 9,128 4,695
Communication Expenses 6,427 5,455
Business Promotion 3,872 865
Scanning charges 3,161 2,313
CSR Expense 3,012 1,688
Office Maintenance 1,570 775
Bad Debts Written off 1,257 1,129
Insurance 1,254 1,036
Statutory Audit Fees 1,000 1,000
Courier and Postage 751 578
Housekeeping Expenses 579 360
Expected Credit Loss 571 541
Security Services 567 288
Printing & Stationery 288 220
Vehicle Insurance 119 122
Commission & Brokerage 104 -
Advertisement Expenses 76 492
AGM Expenses 40 40
Books, Periodicals& News Papers 2 1
EGM Expenses - 35
Total 154,573 135,478
27 Taxes
(a) Current tax 30,475 51,681
Deferred tax charge/ (credit) 2,906 584
Total income tax expense recognized in statement of Profit & Loss 27,569 51,097
(b) Reconciliation of effective tax rate:
Profit Before Tax (A) 122,864 207,500
Enacted tax rate in India (B) 25.168% 25.168%
Expected tax expenses (C = A*B) 30,922 52,224
Addl deduction under Income Tax Act, 1961 - -
Effect of non-Deductible expenses under Income Tax Act, 1961 (447) (543)
Income tax expenses 30,475 51,681

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
31.03.2023 31.03.2022
28 Components of Other Comprehensive Income (OCI)
Re-measurement gains/(losses) on employee defined benefit plans
Actuarial Loss (12,080) (715)
Deferred tax effect on remeasurement costs 2,172 665
Remeasurement of the net defined benefit liability / asset (9,908) (50)
Non-Current Investment To FVTOCI 319 (655)
Total (9,589) (705)
29 Earning per equity share
Profit for the year (in `) 95,295 156,402
Weighted average number of equity shares considered 23,467 22,457
(For calculation of basic earnings per share)
Add: Effect of dilution
Effect of dilution on account of Employee Stock Options granted - 6
Weighted average number of equity Shares considered 23,467 22,463
(For calculation of diluted earnings per share)
Earnings per share
- Basic (in `) 4.06 6.96
- Diluted (in `) 4.06 6.96
30. Additional disclosure requirements as required by the Companies Act, 2013
a) Ageing Schedule of Capital Work-in-Progress (CWIP)
Amount in CWIP for a period of
Particulars
Less than 1 year 1-2 Years 2-3 Years More than 3 Years Total

(i) Projects in Progress - - - - -

(ii) Projects temporarily suspended - - - - -
Total - - - - -
Note: The Company do not have any projects whose activity has been suspended.
b) Completion Schedule for Capital Work-in-Progress whose completion is overdue because of delay due to pandemic
caused by COVID-19
To be completed in
Particulars
Less than 1 year 1-2 Years 2-3 Years More than 3 Years Total

(i) Projects in Progress - - - - -

(ii) Projects temporarily suspended - - - - -
Total - - - - -
c) Proceedings under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder
There are no proceedings initiated or are pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

d) Willful Defaulter
The Company is not declared as willful defaulter by any bank or financial Institution or other lenders.
e) Relationship with Struck off Companies
The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or
Section 560 of Companies Act, 1956 considering the information available with the Company.
f) Compliance with number of layers of companies
The Company do not have any parent company and accordingly, compliance with the number of layers prescribed under
clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable
for the year under consideration.
g) Key Financial Ratios
Reason for variance
(where the change in
Unit of March 31, March 31, Variation
Particulars the ratio is more than
Measurement 2023 2022 in %
25% as compared to
the preceding year)
Current Ratio In multiple 2.24 2.31 -3.03% - The reason for variation in
Debt service coverage ratio
Debt-Equity Ratio In multiple 0.35 0.36 -2.78% is due to the reduction in
Debt Service Coverage Ratio In multiple 19.65 12.21 60.93% Debt.
Return on Equity Ratio In % 8.11% 16.79% -51.70% - The reason for variation
in Return on Equity Ratio ,
Inventory Turnover Ratio In Days - - - Net Profit Ratio , Return on
Capital Employed , Return
Trade receivables Turnover Ratio In Days 186.00 207.00 -10.14%
on Investment (Assets)
Trade payables Turnover Ratio In Days 90.00 81.00 11.11% ratio is due to the reduction
in Net Profit because of
Net Working Capital Turnover Ratio In Days 95.00 126.00 -24.60% new investment in talent
Net Profit Ratio In % 14.27% 25.93% -44.97% services. These investments
will yield results in the
Return on Capital Employed In % 11.13% 20.69% -46.21% coming years.
Return on Investment (Assets) In % 5.98% 11.98% -50.08%

Formula adopted for above Ratios:

Current Ratio = Current Assets / (Total Current Liabilities – Security Deposits payable on Demand – Current maturities
of Long-Term Debt)
Debt-Equity Ratio = Total Debt / Total Equity
Debt Service Coverage Ratio = (EBITDA – Current Tax) / (Principal Repayment + Gross Interest on term loans)
Return on Equity Ratio = Total Comprehensive Income / Average Total Equity
Inventory Turnover Ratio (Average Inventory days) = 365 / (Net Revenue / Average Inventories)
Trade receivables Turnover Ratio (Average Receivables days) = 365 / (Net Revenue / Average Trade receivables)
Trade Payables Turnover Ratio (Average Payable days) = 365 / (Net Revenue / Average Trade payables)
Net Working Capital Turnover Ratio = (Inventory Turnover Ratio + Trade receivables turnover ratio – Trade payables
turnover ratio)
Net Profit Ratio = Net Profit / Net Revenue
Return on Capital employed = (Profit Before Tax + Interest) / (Average of (Equity + Total Long-term debt))
Return on Investment (Assets) = Total Comprehensive Income / Average Total Assets
h) Scheme of arrangements
There is no Scheme of Arrangements approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the year.
i) Advance or loan or investment to intermediaries and receipt of funds from intermediaries
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 person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
The company has also not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
j) Pending Charge or satisfaction with ROC
The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies
(‘ROC’) beyond the statutory period.
k) Undisclosed Income
The Company do not have any transactions which are not recorded in the books of accounts that has been surrendered
or disclosed as income in the tax assessments under the Income Tax Act, 1961 during any of the years.
l) Details of Crypto Currency or Virtual Currency
The Company did not trade or invest in Crypto Currency or virtual currency during the financial year. Hence, disclosures
relating to it are not applicable.
m) Revaluation of Property, Plant and Equipment’s.
During the year ended 31st March 2023, the Company has not revalued its Property, Plant and Equipment’s.
n) Title deeds of Immovable Properties
Tittle deeds comprising of all the Immovable properties of the land and building held by the company are in the name
of company as at the balance sheet date.
31. Commitments and Contingencies
Contingent liabilities
Year Ended Year Ended
Particulars
31st March 2023 31st March 2022
Counter Guarantees given to Banks towards issue of B.G’s 38,935 33,150
Dues relating to Income tax* 5,103 5,103
* Dues relating to Income Tax for the Financial Year 2016-17 relevant to the Assessment Year 2017-18 the Company has demand of `5,103
thousand which the Company is contesting and filed an application for Rectification under sec.154 of the Income Tax Act. Based on consultant
opinion the Company is confident of favorable order.
32. Employee Benefits
a) Defined contribution plan
Eligible employees receive benefits from the provident fund & ESI, which is a defined contribution plan. Both the employee
and the Company make monthly contributions to the provident fund plan equal to a specified percentage of the covered
employee’s basic salary. The Company has no further obligations under the plan beyond its monthly contributions. The
Company’s contribution to the Employees’ Provident Fund scheme maintained by the Central Government is charged to
the statement of profit and loss on accrual basis.
Particulars Year Ended Year Ended
31st March 2023 31st March 2022
Contribution to provident and other funds recognised as expense in the 12,782 11,376
Statement of P & L
b) Disclosures related to defined benefit plan
The Company has a defined benefit gratuity plan and is governed by Payment of Gratuity Act, 1972. Every employee who
has completed five years or more of service gets a gratuity on departure at 15 days last drawn salary for each completed
year of service. The scheme is funded by Life Insurance Corporation in the form of a qualifying insurance policy. The
following tables summarize the components of net benefit expense recognized in the statement of profit and loss, the
fund status and balance sheet position:

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

A) Net employee benefit expense (included under employee benefit expenses & Other Income)
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Current service cost 6,029 5,778
Interest cost on benefit obligation 3,702 3,380
Expected return on plan assets (852) (724)
Net employee benefit expenses 8,879 8,434
B) Amount recognized in the Balance Sheet
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Defined benefit obligation 67,806 52,884
Fair value of plan assets (11,650) (9,134)
Net Plan Liability 56,156 43,750
C) Changes in the present value of the defined benefit obligation for Gratuity are as follows
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Opening defined benefit obligation 52,884 48,292
Current service cost 6,029 5,778
Interest cost 3,702 3,380
Benefits paid (6,889) (5,282)
Net Actuarial (gains)/losses on obligation for the year recognised under OCI 12,080 716
Closing defined benefit obligation 67,806 52,884
D) Changes in fair value of plan assets
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Fair Value of Assets at the beginning of the year 9,002 8,598
Expected return on plan assets 852 724
Contributions 8,553 4,962
Benefits paid (6,889) (5,282)
Other Adjustments 132 -
Closing fair value of plan assets 11,650 9,002
The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Investments with Life Insurance Corporation 100% 100%
E) Amount recognized in statement of other comprehensive income (OCI):(gross)
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Remeasurement for the year - Obligation gain 12,080 716
Closing amount recognised in OCI 12,080 716

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

The principal assumptions used in determining gratuity obligations for the Company’s plans are shown below:
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Discount rate 7.00% 7.00%
Expected rate of return on assets 6% 6%
Salary rise 6% 6%
1. The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion
and other relevant factors, such as supply and demand in the employment market.
2. The expected rate of return on assets is based on the expectation of the average long-term rate of return expected on
investments of the fund during the estimated term of the obligations.

33. Remuneration to Statutory Auditors

Year ended Year ended
Particulars
31.03.2023 31.03.2022
As Auditor
Statutory audit & Limited review 1,000 1,000
Total 1,000 1,000
34. Related party disclosures
Names of related parties and description of relationship
Name of the related party Relationship
1. C.K.Shastri Chairman and Managing Director
2. Jayant Dwarkanath Wholetime Director
3. C. Anisha Shastri Wholetime Director (Daughter of Chairman & Managing Director)
4. Intense Technology FZE Wholly Owned Subsidary
5. Intense Technology U.K Wholly Owned Subsidary
6. Intense Technology INC Wholly Owned Subsidary
7. Reasy Pte Limited Wholly Owned Subsidary
In accordance with the provisions of Ind AS 24 “Related Party Disclosures” and the Companies Act, 2013, Company’s Directors,
members of the Company’s Management Council and Company Secretary are considered as Key Management Personnel.
List of Key Management Personnel of the Company:
1. C.K.Shastri Chairman and Managing Director
2. Jayant Dwarkanath Whole-time Director
3. C. Anisha Shastri Whole-time Director
4. H.Madhukar Nayak (Up to 30.05.2023) Chief Financial Officer
5. Nitin Sarda (w.e.f. 01.06.2023) Chief Financial Officer
6. Saheli Banerjee (Upto 22.02.2023) Company Secretary & Compliance Officer
7. Pratyusha Podugu (From 18.04.2023) Company Secretary & Compliance Officer

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

35. Transactions during the year

Particulars Year ended Year ended
31.03.2023 31.03.2022
a) Subsidiary companies
Intense Technologies FZE
Sales made during the year 9,311 -
Payments received from 1,893 8,405
Services received from 11,416 6,890

Intense Technologies U.K Ltd

Payments made 18,810 25,227
Sales made during the year 15,661 -
Services received from 32,726 29,323

Intense Technologies INC

Payments made 5,650 4,145
Payments received from - -
Services received from 9,057 12,098

Reasy Pte Ltd, Singapore

Payments made 284 213
Investments During the Year - -

b) Transactions with key managerial personnel or their relatives

a) C.K. Shastri
Managerial Remuneration 16,610 17,436
b) Jayant Dwarkanath
Managerial Remuneration 16,610 17,436
c) C. Anisha Shastri
Managerial Remuneration 11,824 12,031
36. Outstanding Balances
Particulars Year ended Year ended
31.03.2023 31.03.2022
Subsidiary Companies
Intense Technologies FZE
Investments 69,555 69,555
Trade Payable 26,652 15,236
Trade receivables 7,418 -
Intense Technologies U.K Ltd
Investments 111,160 111,160

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Particulars Year ended Year ended

31.03.2023 31.03.2022
Trade Payable 130,253 116,336
Trade receivables 15,661 -
Intense Technologies INC
Investments 94,100 94,100
Trade Payable 43,352 39,945
Trade receivables - -
Reasy Pte Limited
Investments 55 55
Advances 610 326

37. Significant accounting judgements, estimates and may change due to market changes or circumstances
assumption arising that are beyond the control of the Company.
The preparation of the Company’s financial statements Such changes are reflected in the assumptions when
requires management to make judgements, estimates and they occur.
assumptions that affect the reported amounts of revenues,
(i) Defined employee benefit plans (Gratuity)
expenses, assets and liabilities, and the accompanying
The cost of the defined benefit gratuity plan
disclosures, and the disclosure of contingent liabilities.
and the present value of the gratuity obligation
Uncertainty about these assumptions and estimates could are determined using actuarial valuations. An
result in outcomes that require a material adjustment to actuarial valuation involves making various
the carrying amount of assets or liabilities affected in assumptions that may differ from actual
future periods. developments in the future. These include
the determination of the discount rate; future
(A) Judgements
salary increases and mortality rates. Due to the
In the process of applying the Company’s accounting
complexities involved in the valuation and its
policies, management has made the following
long-term nature, a defined benefit obligation is
judgements, which have the most significant effect on
highly sensitive to changes in these assumptions.
the amounts recognised in the financial statements.
All assumptions are reviewed at each reporting
(i) Lease commitments - the Company as lessee date.
The Company has entered into leases for office
The parameter most subject to change is the
premises. The Company has determined, based
discount rate. In determining the appropriate
on an evaluation of the terms and conditions of
discount rate for plans operated in India, the
the arrangements, such as the lease term not
management considers the interest rates of
constituting a major part of the economic life of
government bonds in currencies consistent with
the land and office premises and the fair value of
the currencies of the post-employment benefit
the asset, that it does not retain significant risks
obligation.
and rewards of ownership of the land and the
office premises and accounts for the contracts as The mortality rate is based on publicly available
operating leases. mortality tables. Future salary increases and
gratuity increases are based on expected future
(B) Estimates and assumptions
inflation rates. Further details about gratuity
The key assumptions concerning the future and other
obligations are given in Note 32
key sources of estimation uncertainty at the reporting
date, that have a significant risk of causing a material 38. Fair Values
adjustment to the carrying amounts of assets and The management assessed that loans, cash and cash
liabilities within the next financial year, are described equivalents, trade receivables, borrowings, trade payables
below. The Company based its assumptions and and other current liabilities approximate their carrying
estimates on parameters available when the financial amounts largely due to the short-term maturities of these
statements were prepared. Existing circumstances and instruments.
assumptions about future developments, however,

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

The fair value of the financial assets and liabilities is Before accepting any new customer, the Company uses
included at the amount at which the instrument could be an external/internal credit scoring system to assess the
exchanged in a current transaction between willing parties, potential customer’s credit quality and define credit limits
other than in a forced or liquidation sale. of customer. Limits and scoring attributed to customers
are reviewed at periodic intervals. The expected credit
loss allowance is based on the ageing of the days the
39. Financial risk management objectives and policies
receivables are due and the rates as given in the provision
Financial Risk Management Framework matrix.
The Company is exposed primarily to Credit Risk, Liquidity
Liquidity Risk
Risk and Market risk (fluctuations in foreign currency
exchange rates and interest rate), which may adversely Liquidity risk refers to the risk that the Company cannot
impact the fair value of its financial instruments. The meet its financial obligations. The objective of liquidity
Company assesses the unpredictability of the financial risk management is to maintain sufficient liquidity
environment and seeks to mitigate potential adverse and ensure that funds are available for use as per
effects on the financial performance of the Company. requirements. The Company manages liquidity risk by
maintaining adequate reserves, banking facilities and
Credit Risk
reserve borrowing facilities, by continuously monitoring
Credit risk is the risk that a counterparty will not
forecast and actual cash flows, and by matching the
meet its obligations under a financial instrument or
maturity profiles of financial assets and liabilities.
customer contract, leading to a financial loss. Credit risk
encompasses both the direct risk of default and the risk of
As of 31st March 2023, the Company had working capital
deterioration of creditworthiness as well as concentration
(current assets less current liabilities) of `401,988 (in
of risks. Credit risk is controlled by analyzing credit limits
thousands) including cash and cash equivalents of
and creditworthiness of customers on a continuous basis
`103,113(in thousands), investments in term deposits
to whom the credit has been granted after obtaining
of ` 171,204 (in thousands). As of 31st March 2022, the
necessary approvals for credit. Financial instruments that
Company had working capital (current assets less current
are subject to concentrations of credit risk principally
liabilities) of `388,144 (in thousands) including cash and
consist of trade receivables, investments, loans, cash and
cash equivalents of `205,196(in thousands), investments
cash equivalents, bank deposits and other financial assets.
in term deposits of `180,997(in thousands).
None of the financial instruments of the Company result
in material concentration of credit risk, except for trade Market Risk
receivables. Market risk is the risk that the fair value or future cash flows
of a financial instrument will fluctuate because of changes
Exposure to credit risk:
in market prices. Such changes in the values of financial
The carrying amount of Trade receivable represents
instruments may result from changes in the foreign
the maximum credit exposure. The maximum exposure
currency exchange rates, interest rates, credit, liquidity
to credit risk was `454,163 (excluding Subsidiaries)
and other market changes. The Company’s exposure to
(In thousands) & `399,503 (excluding Subsidiaries)
market risk is primarily on account of foreign currency
(In thousands) as of March 31, 2023 & March 31, 2022,
exchange rate risk.
respectively, being the total of the carrying number of
balances with trade receivables. Interest rate risk
Interest rate risk is the risk that the fair value or future
Trade receivables:
cash flows of a financial instrument will fluctuate because
Ind AS requires expected credit losses to be measured of change in market interest rates. As the Company’s
through a loss allowance. The Company assesses at each debt obligation with Fixed interest rates are in Rupees
date of statements of financial position whether a financial which is subject to insignificant change, exposure to the
asset or a group of financial assets is impaired. Expected risk of changes in market interest rates are substantially
credit losses are measured at an amount equal to the 12 independent of changes in market interest rates. As the
month expected credit losses or at an amount equal to company has no significant interest-bearing assets,
the lifetime expected credit losses if the credit risk on the income and operating cash flows are substantially
the financial asset has increased significantly since initial independent of changes in market interest rates.
recognition. The Company has used a practical expedient
by computing the expected credit loss allowance for trade
receivables based on a provision matrix. The provision
matrix takes into account historical credit loss experience
and adjusted for forward-looking information.

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Standalone Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

31.03.2023 31.03.2022
(` in thousands) (` in thousands)
Expenditure in foreign currency
Transferred to Subsidiaries 17,345 29,372
Transferred to Singapore Branch 28,352 16,902
Reimbursement of expenses 9,406 114
55,103 46,388
Earnings in foreign currency (on accrual basis)
Sale of services 96,243 115,909

Foreign Currency exchange rate risk the Company has accounted for such differences.
The fluctuation in foreign currency exchange rates may Deferred tax adjustments are recognized in
have potential impact on the statement of profit or loss correlation to the underlying transaction in other
and other comprehensive income and equity, where any equity.
transaction references more than one currency or where
iii. Remeasure of actuarial gains/ (losses):
assets / liabilities are denominated in a currency other
Both under Previous GAAP and Ind AS, the Company
than the functional currency of the respective entities.
recognised costs related to its post-employment
Considering the countries and economic environment in
defined benefit plan on an actuarial basis. Under
which the Company operates, its operations are subject
Previous GAAP, the entire cost, including actuarial
to risks arising from fluctuations in exchange rates in
gains and losses, is charged to profit or loss. Under
those countries. The risks primarily relate to fluctuations
Ind AS, remeasurements comprising of actuarial gains
in US Dollar, Euros, AED and GBP against the functional
and losses are recognised immediately in the balance
currencies of the Company.
sheet with a corresponding debit or credit to retained
i. Investments earnings through OCI.
Investments in equity instruments are carried at fair
iv. Other comprehensive income
value through OCI as per IND-AS 109 as compared to
As per Ind AS, the company translated Previous GAAP
being carried at cost under Previous GAAP.
profit or loss to total comprehensive income.
ii. Deferred Tax Liabilities
v. Statement of cash flows
Previous GAAP requires deferred tax accounting
The transition from Indian GAAP to Ind AS has not
using the income statement approach, which
had a material impact on the statement of cash flows.
focuses on differences between taxable profits
and accounting profits for the period. Ind AS vi. Adjustments to Opening reserves.
12 requires accounting for deferred taxes using Preliminary expenses which has been classified in
the Balance sheet approach, which focuses on BS as Other Assets have been adjusted to Opening
temporary difference between the carrying amount reserves.
of an asset or liability in the Balance Sheet and its
vii. Prior period adjustments
tax base. The application of Ind AS 12 approach
Prior period adjustments in Profit and loss account
has resulted in recognition of deferred tax on new
have been adjusted to opening reserves.
temporary differences which was not required under
Previous GAAP. In addition, the various transitional As per our Report of even date attached.
adjustments lead to temporary differences and

MSPR & Co., For and on behalf of the Board of Directors of

Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn. No. 010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No. 208701 DIN: 00329398 DIN: 00329597
UDIN: 23208701BGVVJC6270

Date: 30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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Independent Auditor’s Report
To The Members of Intense Technologies Limited

Report on the Audit of the Consolidated Financial Statements

Opinion
We have audited the Consolidated Financial Statements of M/s INTENSE TECHNOLOGIES LIMITED (hereinafter referred to
as “the Holding Company”) and its Subsidiaries ( Holding company and its subsidiaries together referred to as “the Group”),which
comprise the Consolidated Balance Sheet as at March 31, 2023 and the Consolidated Statement of Profit and Loss (including
Other Comprehensive Income), the Consolidated Statement of Changes in Equity and the Consolidated Statement of Cash Flows
for the year then ended, and notes to the Consolidated Financial Statements, including a summary of the significant accounting
policies and other explanatory information. (Hereinafter referred to as “the Consolidated Financial Statements”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Consolidated
Financial Statements give the information required by the Companies Act,2013 (“the Act”) in the manner so required and give
a true and fair view in conformity with the Indian Accounting Standards prescribed under section 133 of the Act read with the
Companies ( Indian Accounting standards) Rules, 2015, as amended (“Ind AS”) and other accounting principles generally accepted
in India, of the Consolidated state of affairs of the Group as at March 31, 2023 and their consolidated profit, their consolidated
total comprehensive income, their consolidated changes in equity and their consolidated cash flows for the year ended on that
date.
Basis for Opinion
We conducted our audit of the Consolidated Financial Statements in accordance with the standards on Auditing (SAs) specified
u/s 143(10) of the Act. Our responsibilities under those SAs are further described in the Auditors Responsibilities for the Audit of
the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the code of
ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant
to our audit of the Consolidated Financial Statements under the provisions of the act and the rules made thereunder, and we have
fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s code of ethics. We believe that
the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Consolidated
Financial Statements.
Key audit matters:
Key audit matters (‘KAM’) are those matters that, in our professional judgment, were of most significance in our audit of the
Consolidated Financial Statements of the current period. These matters were addressed in the context of our audit of Consolidated
Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
We have determined the matters described in tabular form :

Key Audit Matter Auditor’s Response

Accuracy of revenue recognition Principal Audit Procedures
in respect of fixed price contracts
Our audit approach was a combination of test of internal controls and
involves critical estimates. Estimated
substantive procedures which included the following, among others:
effort is a critical estimate to
determine revenues and liabilities for Evaluated the design of internal controls relating to recording of efforts
onerous obligations. This estimate has incurred and estimation of efforts required to complete the performance
a high inherent uncertainty as it requires obligations.
consideration of progress of the contract,
Tested the access and application controls pertaining to time recording and
efforts incurred till date and efforts required
allocation systems which prevents unauthorized changes to recording of
to complete the remaining contract
efforts incurred.
performance obligations.
Selected a sample of contracts and through inspection of evidence of
performance of these controls, tested the operating effectiveness of the
internal controls relating to efforts incurred and estimated.
Selected a sample of contracts and performed a retrospective review of
completed efforts and activities with the planned efforts and activities to
identify significant variations and verified whether those variations have been
considered in estimating the remaining efforts to complete the contract.
Reviewed a sample of contracts with unbilled revenues to identify possible
delays in achieving milestones, which require a change in estimated efforts to
complete the remaining performance obligations.
Performed analytical procedures and test of details for reasonableness of
incurred and estimated efforts.

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Information other than the Financial Statements and The respective Board of Directors of the companies included
Auditor’s report Thereon in the Group are responsible for overseeing the Company’s
The Company’s Board of Directors is responsible for the financial reporting process of the Group.
preparation of the other Information. The other information
Auditor’s Responsibility for the Audit of the
comprises the information included in the Management
Consolidated Financial Statements
Discussion and Analysis, Board’s Report including Annexures
Our objectives are to obtain reasonable assurance about
to Board’s report, Business Responsibility and Sustainability
whether the Consolidated Financial Statements as a whole
report, Corporate Governance and Shareholder’s Information,
are free from material misstatement, whether due to fraud or
but does not include the financial statements and our auditor’s
error, and to issue an auditor’s report that includes our opinion.
report thereon.
Reasonable assurance is a high level of assurance, but is not
Our opinion on the Consolidated Financial Statements does not a guarantee that an audit conducted in accordance with SAs
cover the other information and we do not express any form of will always detect a material misstatement when it exists.
assurance conclusion thereon. Misstatements can arise from fraud or error and are considered
material if, individually or in the aggregate, they could
In connection with our audit of the Consolidated Financial
reasonably be expected to influence the economic decisions
Statements, our responsibility is to read the other information
of users taken on the basis of these Consolidated Financial
identified above when it becomes available and, in doing
Statements.
so, consider whether the other information is materially
inconsistent with the Consolidated Financial Statements, or As part of an audit in accordance with SAs, we exercise
our knowledge obtained during the course of our audit or professional judgment and maintain professional skepticism
otherwise appears to be materially misstated. throughout the audit. We also:
If, based on the work we have performed, we conclude that z Identify and assess the risks of material misstatement
there is a material misstatement of this other information, we of the Consolidated Financial Statements, whether due
are required to report that fact. We have nothing to report in to fraud or error, design and perform audit procedures
this regard. responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our
Responsibilities of Management and Those Charged
opinion. The risk of not detecting a material misstatement
with Governance for the Consolidated Financial
resulting from fraud is higher than for one resulting from
Statements
error, as fraud may involve collusion, forgery, intentional
The Company’s Board of Directors are responsible for the matters
omissions, misrepresentations, or the override of internal
stated in section 134(5) of the Act with respect to preparation
control.
and presentation of these Consolidated Financial Statements
that give a true and fair view of the Consolidated financial z Obtain an understanding of internal control relevant to
position , Consolidated financial performance including other the audit in order to design audit procedures that are
comprehensive income, Consolidated statement of changes in appropriate in the circumstances. Under section 143(3)
equity and Consolidated cash flows of the Group in accordance (i) of the Act, we are also responsible for expressing
with the accounting principles generally accepted in India. our opinion on whether the holding Company has
The respective Board of Directors of the Companies included adequate internal financial controls with reference to
in the Group are responsible for maintenance of adequate the Consolidated Financial Statements in place and the
accounting records in accordance with the provisions of the operating effectiveness of such controls.
Act for safeguarding the assets of the group and for preventing
z Evaluate the appropriateness of accounting policies used
and detecting frauds and other irregularities; selection
and the reasonableness of accounting estimates and
and application of appropriate accounting policies; making
related disclosures made by management and Board of
judgments and estimates that are reasonable and prudent;
directors.
and design, implementation and maintenance of adequate
internal financial controls, that were operating effectively for z Conclude on the appropriateness of management and
ensuring the accuracy and completeness of the accounting board of director’s use of the going concern basis of
records, relevant to the preparation and presentation of the accounting in preparation of Consolidated Financial
Consolidated Financial Statements that give a true and fair view Statements and, based on the audit evidence obtained,
and are free from material misstatement, whether due to fraud whether a material uncertainty exists related to events
or error, which have been used for the purpose of preparation or conditions that may cast significant doubt on the
of the Consolidated Financial Statements by the Management ability of the Group to continue as a going concern. If
and Board of directors of the holding company, as aforesaid. we conclude that a material uncertainty exists, we are
required to draw attention in our auditor’s report to
In preparing the Consolidated Financial Statements, the
the related disclosures in the Consolidated Financial
respective Board of Directors of the companies included
Statements or, if such disclosures are inadequate, to
in the group are responsible for assessing the ability of the
modify our opinion. Our conclusions are based on the
respective entities to continue as a going concern, disclosing,
audit evidence obtained up to the date of our auditor’s
as applicable, matters related to going concern and using the
report. However, future events or conditions may cause
going concern basis of accounting unless the respective board
the Group to cease to continue as a going concern.
of directors either intends to liquidate the Company or to cease
operations, or has no realistic alternative but to do so.

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z Evaluate the overall presentation, structure and content far as it appears from our examination of those books
of the Consolidated Financial Statements, including the and the reports of the other auditors.
disclosures, and whether the Consolidated Financial
c) The Consolidated Balance Sheet, the Consolidated
Statements represent the underlying transactions and
Statement of Profit and loss (including other
events in a manner that achieves fair presentation.
comprehensive Income), the Consolidated Statement
z Obtain sufficient appropriate audit evidence regarding of changes in equity and the Consolidated Statement
the financial information of entities within the Group of Cash flows dealt with by this Report are in agreement
to express an opinion on the Consolidated Financial with the relevant books of account maintained for the
Statements. We are responsible for the decision, purpose of preparation of the Consolidated Financial
supervision, and performance of the audit of financial Statements.
information of such entities included in the Consolidated
d) In our opinion, the aforesaid Consolidated Financial
Financial Statements. We remain solely responsible for
Statements comply with the Ind AS specified under
our audit opinion.
Section 133 of the Act read with the companies
Materiality is the magnitude of misstatements in the (Indian Accounting Standards) Rules,2015:
Consolidated Financial Statements that, individually or in
e) On the basis of written representations received from
aggregate, makes it probable that the economic decisions of a
the directors of the Holding Company as on March
reasonably knowledgeable user of the Consolidated Financial
31,2023 and taken on record by the Board of Directors
Statements may be influenced. We consider quantitative
of the Holding company, none of the directors of the
materiality and qualitative factors in (i) planning the scope of
holding company are disqualified as on 31st March
our audit work and in evaluating the results of our work; and
2023, from being appointed as a director in terms of
(ii) to evaluate the effect of any identified misstatements in the
section 164 (2) of the Act;
Consolidated Financial Statements.
f) With respect to the adequacy of the internal
We communicate with those charged with governance of
financial controls with reference to Consolidated
the Holding Company and such other entities included in
Financial Statements of the Holding Company and
the Consolidated Financial Statements of which we are the
the operating effectiveness of such controls, refer to
independent auditors regarding, among other matters, the
our separate report in “Annexure A” wherein we have
planned scope and timing of the audit and significant audit
expressed an unmodified opinion: and
findings, including any significant deficiencies in internal
control that we identify during our audit. g) With respect to the other matters to be included in the
Auditors’ Report in accordance with the requirements
We also provide those charged with governance with a
of section 197(16) of the Act, as amended:
statement that we have complied with relevant ethical
requirements regarding independence, and to communicate In our opinion and to the best of our information
with them all relationships and other matters that may and according to the explanations given to us , the
reasonably be thought to bear on our independence, and remuneration paid by the company to its directors
where applicable, related safeguards. during the year is in accordance with the provisions of
section 197 of the Act.
From the matters communicated with those charged with
governance, we determine those matters that were of h) With respect to the other matters to be included in
most significance in the audit of the Consolidated Financial the Auditors’ Report in accordance with the Rule 11
Statements of the current period and are therefore the key of the companies (Audit and Auditors) Rules,2014,
audit matters. We describe these matters in our auditor’s as amended in our opinion and to the best of our
report unless law or regulation precludes public disclosure information and according to the explanations given
about the matter or when, in extremely rare circumstances, to us:
we determine that a matter should not be communicated in
i) The Consolidated Financial Statements disclose
our report because the adverse consequences of doing so
the impact of pending litigations as at 31st March
would reasonably be expected to outweigh the public interest
2023 on the consolidated financial position of
benefits of such communication.
the Group. (Refer Note 31 ) to the Consolidated
Report on Other Legal and Regulatory Requirements Financial Statements.
1. As required by section 143 (3) of the Act, based on our ii) The Group did not have any material foreseeable
report, we report that: losses on long-term contracts including derivative
contracts during the year ended 31st March 2023.
a) We have sought and obtained all the information and
The Group did not have any long-term derivative
explanations which to the best of our knowledge and
contracts.
belief were necessary for the purpose of our audit of
the aforesaid Consolidated Financial Statements. iii) There has been no delay in transferring amounts
to the Investors Education and Protection Fund
b) In our opinion, proper books of account as required
by the Holding company during the year ended
by law relating to preparation of the aforesaid
31st March 2023.
Consolidated Financial Statements have been kept so

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

iv) (a) The management has represented that, reporting under Rule 11(g) of Companies (Audit
to the best of its knowledge and belief, and Auditors) Rules,2014 is not applicable for the
no funds have been advanced or loaned financial year ended March 31,2023.
or invested (either from borrowed funds
or share premium or any other sources or
kind of funds) by the Holding Company or For MSPR & CO.,
in any other persons or entities, including Chartered Accountants
foreign entities(“intermediaries”) with the ICAI Firm Registration No: 010152S
understanding, whether recorded in writing
or otherwise that the intermediary shall:
Voruganti Madhusudhan
z Directly or indirectly lend or invest in (Partner)
other persons or entities identified in Membership No: 208701
any manner whatsoever (“Ultimate UDIN:23208701BGVVJD6530
Beneficiaries”) by or on behalf of the
Place: Hyderabad
Holding company or
Date: 30-May-2023
z Provide any guarantee, security or the
like to or on behalf of the Ultimate
Beneficiaries. Annexure A to the Independent
(b) The management has represented that, to
Auditors’ Report on the
the best of its knowledge and belief, no Consolidated Financial Statements of
funds have been received by the Holding Intense Technologies Limited for the
company from any persons or entities,
including foreign entities (“Funding
year
parties”) with the understanding, whether ended 31st March 2023
recorded in writing or otherwise that the (Referred to in paragraph 1(f) under ‘Report on Other Legal and
Holding company shall: Regulatory Requirements’ section of our report to the Members
z Directly or indirectly lend or invest in of Intense Technologies Limited of even date).
other persons or entities identified in Report on the Internal Financial Controls with reference to the
any manner whatsoever (“Ultimate aforesaid Consolidated Financial Statements under Clause (i)
Beneficiaries”) by or on behalf of the of Sub-section 3 of Section 143 of the Companies Act, 2013
Funding party. (“the Act”)
Or Opinion
z Provide any guarantee, security, or the In Conjunction with our audit of the Consolidated Financial
like from or on behalf of the Ultimate Statements of M/s. INTENSE TECHNOLOGIES LIMITED
Beneficiaries: and (hereinafter referred to as “the Holding Company”) and its
subsidiaries together referred to as ‘the Group’) as at and for
(c) Based on such audit procedures as the year ended 31st March 2023, we have audited the internal
considered reasonable and appropriate in financial controls with reference to the financial statements of
the circumstances, nothing has come to our the Holding Company ,which is company covered under the
notice that has caused us to believe that the Act, as of that date.
representations under sub-clause (i) and (ii)
of Rule 11(e) as provided under (a) and (b) In our opinion, the holding company, which is company covered
above, contain any material misstatement. under the Act, has in all material respects, adequate internal
financial controls with reference to financial statements and
(v) The dividend declared or paid during the year such internal financial controls were operating effectively as at
by the Holding company and its subsidiary 31st March 2023, based on the internal financial controls with
companies are in compliance with section 123 of reference to financial statements criteria established by the
the Act. Holding Company considering the essential components of
(vi) Proviso to Rule 3(1) of the Companies (Accounts) such internal controls stated in the guidance note on audit of
Rules,2014 requires all Companies which use Internal Financial Controls Over Financial Reporting issued by
accounting software for maintaining their books the Institute Of Chartered Accountants of India (the “Guidance
of accounts, to use such an accounting software Note”).
which has a feature of recording audit trail Management’s Responsibility for Internal Financial
(edit log) facility is applicable to the company Controls
with effect from April 1,2023, and accordingly,

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The Board of Directors of the Holding Company, which Accounting Principles, and that receipts and expenditures
is company covered under the Act, are responsible for of the company are being made only in accordance with
establishing and maintaining internal financial controls authorizations of management and directors of the company;
with reference to financial statements based on the criteria and (3) provide reasonable assurance regarding prevention or
established by the respective Company considering the timely detection of unauthorized acquisition, use, or disposition
essential components of internal control stated in the Guidance of the company’s assets that could have a material effect on the
Note. These responsibilities include the design, implementation financial statements.
and maintenance of adequate internal financial controls
Inherent Limitations of Internal Financial Controls
that were operating effectively for ensuring the orderly and
with reference to financial statements.
efficient conduct of its business, including adherence to the
Because of the inherent limitations of internal financial controls
respective Company’s policies, the safeguarding of its assets,
over financial reporting, including the possibility of collusion
the prevention and detection of frauds and errors, the accuracy
or improper management override of controls, material
and completeness of the accounting records, and the timely
misstatements due to error or fraud may occur and not be
preparation of reliable financial information, as required under
detected. Also, projections of any evaluation of the internal
the Companies Act, 2013(hereinafter referred to as “the Act”).
financial controls with reference to financial statements to
Auditor’s Responsibility future periods are subject to the risk that the internal financial
Our responsibility is to express an opinion on the internal controls with reference to financial statements may become
financial controls with reference to the financial statements inadequate because of changes in conditions, or that the degree
of the Holding Company, as aforesaid, based on our audit. We of compliance with the policies or procedures may deteriorate.
conducted our audit in accordance with the Guidance Note and
Opinion
Standards on auditing, prescribed under section 143(10) of the
In our opinion, to the best of our information and according to
Act, to the extent applicable to an audit of internal financial
the explanations given to us, the Holding Company which is
controls with reference to Consolidated Financial Statements.
company covered under the Act ,has in all material respects,
Those Standards and the Guidance Note require that we
an adequate internal financial controls with reference to
comply with ethical requirements and plan and perform the
financial statements and such internal financial controls with
audit to obtain reasonable assurance about whether adequate
reference to financial statements were operating effectively
internal financial controls with reference to financial statements
as at March 31,2023, based on the criteria for internal financial
were established and maintained and if such controls operated
control with reference to financial statements established by
effectively in all material respects.
the Holding Company considering the essential components of
Our audit involves performing procedures to obtain audit internal control stated in the Guidance Note on Audit of Internal
evidence about the adequacy of the internal financial controls Financial Controls Over Financial reporting issued by the ICAI.
with reference to financial statements and their operating
effectiveness. Our audit of internal financial controls with
reference to financial statements included obtaining an For MSPR & CO.,
understanding of internal financial controls with reference to Chartered Accountants
financial statements, assessing the risk that a material weakness ICAI Firm Registration No: 010152S
exists, and testing and evaluating the design and operating
effectiveness of internal control based on the assessed risk.
The procedures selected depend on the auditor’s judgment, Voruganti Madhusudhan
including the assessment of the risks of material misstatement (Partner)
of the financial statements, whether due to fraud or error. Membership No: 208701
UDIN:23208701BGVVJD6530
We believe that the audit evidence we have obtained is
Place: Hyderabad
sufficient and appropriate to provide a basis for our audit
Date: 30-May-2023
opinion on the internal financial controls with reference to the
financial statements of the Holding Company.
Meaning of Internal Financial Controls with reference
to financial statements
A company’s internal financial control with reference to
financial statements is a process designed to provide reasonable
assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes
in accordance with generally accepted accounting principles. A
company’s internal financial controls with reference to financial
statements includes those policies and procedures that (1)
pertain to the maintenance of records that, in reasonable detail,
accurately and fairly reflect the transactions and dispositions of
the assets of the company;(2) provide reasonable assurance that
transactions are recorded as necessary to permit preparation
of financial statements in accordance with Generally Accepted

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Consolidated Balance Sheet as at 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)
As at As at
Particulars Note
31.03.2023 31.03.2022
A. ASSETS
(1) Non-Current Assets
(a) Property, Plant and Equipment 3 43,543 33,910
(b) Intangible Assets Under Development 4 194,245 119,245
(c) Financial Assets
(i) Investments 5 253 281
(ii) Other Financials Assets 6 235,832 220,280
(d) Deferred tax assets (net) 7 15,101 12,195
(e) Other non-current assets 8 8,274 6,610
Total Non-Current Assets 497,248 392,521
(2) Current Assets
(a) Financial Assets
(i) Trade Receivables 9 536,650 440,068
(ii) Cash & Cash equivalents 10 144,118 239,646
(iii) Other Financial Assets 11 22,291 1,305
(b) Current tax assets 12 91,241 68,634
(c) Other current assets 13 35,130 23,839
Total Current Assets 829,430 773,492
Total Assets 1,326,678 1,166,013
B. EQUITY AND LIABILITIES
(1) Equity
(a) Equity Share capital 14 46,935 44,914
(b) Other Equity 15 1,078,462 927,568
Total Equity 1,125,397 972,482
(2) Liabilities
Non-Current Liabilities
(a) Financial liabilities
(i) Borrowings 16 2,587 1,417
(b) Provisions 17 62,218 49,276
Total Non-current Liabilities 64,805 50,693
Current Liabilities
(a) Financial liabilities
(ii) Trade Payables 18
Total outstanding dues of MSME 17,180 2,488
Total outstanding dues of creditors other than MSME 25,362 11,273
(iii) Other current financial liabilities 19 1,495 8,010
(b) Other current liabilities 20 92,439 121,067
Total Current Liabilities 136,476 142,838
Total Equity and Liabilities 1,326,678 1,166,013
Summary of significant accounting policies 2
The accompanying notes are an integral part of the financial statements. As per our Report of even date attached.
MSPR & Co., For and on behalf of the Board of Directors of
Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn.No.010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No.208701 DIN: 00329398 DIN: 00329597
UDIN:23208701BGVVJD6530

Date:30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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 Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Statement of Consolidated Profit & Loss for the Year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)
Year Ended Year Ended
Particulars Note
31.03.2023 31.03.2022
Revenue
Revenue from Operations 21 905,967 829,999
Other Income 22 12,394 9,571
Total Income 918,361 839,570

Expenses
Operating Expenses 23 110,835 28,636
Employee Benefits Expense 24 456,637 412,148
Financial Cost 25 2,352 4,329
Depreciation and amortization Expense 3&3A 15,462 10,017
Other Expenses 26 164,585 141,851
Total Expenses 749,871 596,981

Profit/(Loss) before Tax 168,490 242,589

Tax Expense 27
Income Tax 33,836 51,681
Deferred Tax Asset/(Liability) 2,834 (192)
Profit/(Loss) for the period 137,488 190,716

Other comprehensive income 28

Items that will not be reclassified subsequently to profit or loss
Remeasurement of the net defined benefit liability / asset (12,080) (715)
(net of taxes)
Exchange differences on translation of foreign operations 13,257 3,159
Items that will be reclassified subsequently to profit or loss
Equity instruments through other comprehensive income 319 (655)
Total other comprehensive income, net of tax 1,497 1,789
Total comprehensive income for the period 138,985 192,505
Earnings per equity share (Face Value ` 2/- each) 29
Basic ` 5.86 8.49
Diluted ` 5.86 8.49
Weighted average equity shares used in computing earnings
per equity share
Basic 23,467 22,457
Diluted 23,467 22,463
Significant accounting policies 2
The accompanying notes are an integral part of the financial statements. As per our Report of even date attached.

MSPR & Co., For and on behalf of the Board of Directors of

Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn.No.010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No.208701 DIN: 00329398 DIN: 00329597
UDIN:23208701BGVVJD6530

Date:30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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 CORPORATE STATUTORY FINANCIAL
OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Consolidated Statement of Cash Flow for the Year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Cash flows are reported using the indirect method, whereby profit for the year is adjusted for the effects of transactions of a non-cash nature,
any deferrals, or accruals of past or future operating cash receipts or payments, and item of income or expenses associated with investing
or financing cash flows. The cash flows from operating, investing, and financing activities of the Company are segregated. The Company
considers all highly liquid investments that are readily convertible to known amounts of cash to be cash equivalents.
Particulars 31.03.2023 31.03.2022
A) Cash Flow from operating Activities
Net Profit/(Loss) before tax 168,490 242,589
Adjustment for:
Depreciation 15,462 10,017
Equity instruments through other comprehensive income 319 (655)
Re-measurement gains/(losses) on employee defined benefit plans (12,080) (715)
Exchange differences on translation of foreign operations 2,172 665
Income Tax (27,569) (51,097)
Other Income (12,394) (9,571)
Operating Profit/(Loss) before working capital changes 134,400 191,233
Adjustment for:
(Increase)/Decrease in Trade Receivables (131,009) 96,361
(Increase)/Decrease in Other Current Assets (55,128) (29,335)
Increase/(Decrease) in Current Liabilities 13,421 (21,501)
Cash generated from Operations (38,315) 236,758
Prior Period Items - (1,363)
Net Cash Flow from Operating Activities (38,315) 235,395
B) Cash Flow from investing Activities
(Increase)/Decrease in Fixed Assets (25,093) (12,775)
(Increase)/Decrease in Non-current Investments 28 (60)
Other Income Received 12,394 9,571
(Increase)/Decrease in Fixed Deposits & Mutual Funds (20,049) (55,638)
Increase/(Decrease) in Non-current Liabilities 35,985 (1,319)
(Increase)/Decrease in Intangible Assets Under Development (75,000) (59,600)
Net Cash used in investing activities (71,735) (119,821)
C) Cash Flow from Financing Activities
Increase/(Decrease) in Share Capital 2,021 66
Increase/(Decrease) in Share Application Money (9,233) 9,233
Increase/(Decrease) in Share Premium 35,014 -
Net Movements in Shareholder's Current Account (7,001) (25,579)
Dividend (8,983) (8,983)
Effect of exchange differences on translation of foreign currency cash and cash equivalents 2,704 1,132
Net cash generated from Financing Activities 14,522 (24,131)
Cash & Cash equivalents utilized (A+B+C) (95,528) 91,442
Cash & Cash equivalents (Opening Balance) 239,646 148,205
Cash & Cash equivalents (Closing Balance) 144,118 239,646
As per our Report of even date attached.
MSPR & Co., For and on behalf of the Board of Directors of
Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn.No.010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No.208701 DIN: 00329398 DIN: 00329597
UDIN:23208701BGVVJD6530

Date:30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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Statement of changes in equity
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(a) Equity share capital

Particulars Amount (in
thousands)
Balance as at 1 April 2020 44,816
Changes in equity share capital during the period 32
Balance as at 1 April 2021 44,848
Changes in equity share capital during the period 66
Balance as at 1 April 2022 44,914
Changes in equity share capital during the period 2,021
Balance as at the 31st March 2023 46,935

b) Other equity
Reserves and surplus Other comprehensive income
Share
Application Equity
Foreign Total
Particulars Money Securities Remeasurements instruments
Share Retained Currency equity
pending premium ESOP's of the net defined through other
allotment Warrants earnings transaction
reserve benefit plans comprehensive
reserve
income
As at April 01, - 295,557 20,803 - 257,931 28,115 (28,231) (10,617) 563,558
2020
Add: Profit for - - - - 161,000 - - - 161,000
the year
Other - - - - - 25,035 (10,190) - 14,845
comprehensive
income
Addition made - - - - - - - -
during the year

Balance at 31st - 295,557 20,803 - 418,931 53,150 (38,421) (10,617) 739,403

March 2021
Add: Profit for - - - - 149,613 - - - 149,613
the year
Other - - - - - 27,530 1,788 - 29,318
comprehensive
income
Addition made 9,233 - - - - - - - 9,233
during the year

Balance at 31st 9,233 295,557 20,803 - 568,544 80,680 (36,633) (10,617) 927,567
March 2022
Add: Profit for - - - - 165,682 - - - 165,682
the year
Other - - - - - - (12,080) 13,576 1,496
comprehensive
income
Addition made (9,233) 35,014 - - - (42,065) - - (16,283)
during the year

Balance at 31st - 330,571 20,803 - 734,226 38,615 (48,712) 2,959 1,078,462

March 2023

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)
1. Corporate Overview
Intense Technologies Limited (the Company) is a public limited company domiciled and incorporated in India under the
Companies Act, 1956 and has its registered Office at A1, Vikrampuri, Secunderabad – 500 009. The company has its primary
listings on BSE Limited and NSE Limited. The company is engaged in the business of developing software products that are
designed for data analytics and providing tech-enabled services for organizations. The company platform is cloud-based and
designed to seamlessly integrate with varied client’s existing systems.
Intense together with it’s subsidaries is hereinafter referred to as “the Group.”
2. Significant accounting policies
2.1 Basis of preparation
These Consolidated Financial Statements are prepared in accordance with the Indian Accounting Standard (Ind AS),
under the historical cost convention on accrual basis, except for certain financial instruments which are measured at
fair values, the provisions of the Companies Act, 2013 (“the Act”) and guidelines issued by the Securities and Exchange
Board of India (SEBI). The Ind AS are prescribed under Section 133 of the Act read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 and relevant amendment rules issued thereafter.
Accounting policies have been consistently applied, except where a newly issued accounting standard is initially adopted
or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.
The Consolidated Financial Statements are presented in INR and all values are rounded to the nearest thousands, except
where otherwise indicated.
2.2 Basis of consolidation
Intense Technologies Limited consolidates entities which it owns or controls. The Consolidated Financial Statements
comprise the financial statements of the Company and its subsidiary companies as disclosed in Note 39. Control exists
when the parent has power over the entity, is exposed, or has rights, to variable returns from its involvement with the
entity and has the ability to affect those returns by using its power over the entity. Power is demonstrated through
existing rights that give the ability to direct relevant activities, those which significantly affect the entity’s returns.
Subsidiaries are consolidated from the date control commences until the date control ceases.
The financial statements of the Group companies are consolidated on a line-by-line basis and intra-group balances
and transactions including unrealized gain / loss from such transactions are eliminated upon consolidation. These
financial statements are prepared by applying uniform accounting policies in use at the Group. Noncontrolling interests
which represent part of the net profit or loss and net assets of subsidiaries that are not, directly or indirectly, owned or
controlled by the Holding company, are to be excluded.
2.3 Summary of significant accounting policies
(a) Use of Estimates
The preparation of Consolidated Financial Statements requires estimates on assumptions to be made that affect the
reported amount of assets and liabilities and the disclosure relating to Contingent assets and liabilities as on date
of financial statements and reported amount of Revenue and expenses during the reported period. Management
believes that the estimates used in the preparation of financial statements are prudent and reasonable. Actual
results could differ from these estimates and differences between the actual results and estimates are recognized
where the results are known or materialized.
(b) Operating Cycle
The Group presents assets and liabilities in the balance sheet based on current/ non-current classification. An asset
is treated as current when it is:
• Expected to be realized or intended to be sold or consumed in normal operating cycle
• Held primarily for the purpose of trading.
• Expected to be realized within twelve months after the reporting period, or
• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least twelve
months after the reporting period.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

All other assets are classified as non-current.

A liability is current when:
• It is expected to be settled in normal operating cycle.
• It is due to be settled within twelve months after the reporting period, or
• There is no unconditional right to defer the settlement of the liability for at least twelve months after the
reporting period.
The Group classifies all other liabilities as non-current.
The Group has identified twelve months as its operating cycle.
(c) Foreign currencies
The Group’s Consolidated Financial Statements are presented in Indian rupees, which is also the parent company’s
functional currency. For each entity the Group determines the functional currency and items included in the financial
statements of each entity are measured using that functional currency.
(d) Transactions and balances
Transactions in foreign currencies are initially recorded by the Group’s entities at their respective functional currency
spot rates at the date the transaction first qualifies for recognition. However, for practical reasons, the Group uses
an average rate if the average approximates the actual rate at the date of the transaction. Monetary assets and
liabilities denominated in foreign currencies are translated at the functional currency spot rates of exchange at the
reporting date.
Exchange differences arising on settlement or translation of monetary items are recognized in profit or loss with
the exception of the following:
• Exchange differences arising on monetary items that forms part of a reporting entity’s net investment in a
foreign operation are recognized in profit or loss in the separate financial statements of the reporting entity
or the individual financial statements of the foreign operation, as appropriate. In the financial statements
that include the foreign operation and the reporting entity (e.g., Consolidated Financial Statements when the
foreign operation is a subsidiary), such exchange differences are recognized initially in OCI. These exchange
differences are reclassified from equity to profit or loss on disposal of the net investment.
(e) Group companies
On consolidation, the assets and liabilities of foreign operations are translated into INR at the rate of exchange
prevailing at the reporting date and their statements of profit or loss are translated at exchange rates prevailing
at the dates of the transactions. For practical reasons, the group uses an average rate to translate income and
expense items, if the average rate approximates the exchange rates at the dates of the transactions. The exchange
differences arising on translation for consolidation are recognized in OCI. On disposal of a foreign operation, the
component of OCI relating to that particular foreign operation is recognized in profit or loss.
Cumulative currency translation differences for all foreign operations are deemed to be zero at the date of transition,
viz., April 1, 2016. Gain or loss on a subsequent disposal of any foreign operation excludes translation differences
that arose before the date of transition but includes only translation differences arising after the transition date.
(f) Fair value measurement
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction
between market participants at the measurement date. The fair value measurement is based on the presumption
that the transaction to sell the asset or transfer the liability takes place either:
In the principal market for the asset or liability, or In the absence of a principal market, in the most advantageous
market for the asset or liability The principal or the most advantageous market must be accessible by the Group.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when
pricing the asset or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate
economic benefits by using the asset in its highest and best use or by selling it to another market participant that
would use the asset in its highest and best use.

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

The Group uses valuation techniques that are appropriate in the circumstances and for which sufficient data
are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the use of
unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized
within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair
value measurement as a whole:
Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities.
Level 2 — Valuation techniques for which the lowest level input is significant to the fair value. Measurement is
directly or indirectly observable.
Level 3 — Valuation techniques for which the lowest level input is significant to the fair value. Measurement is
unobservable.
For assets and liabilities that are recognized in the financial statements on a recurring basis, the Group determines
whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based on the
lowest level input that is significant to the fair value measurement as a whole) at the end of each reporting period.
For the purpose of fair value disclosures, the Group has determined classes of assets and liabilities on the basis
of the nature, characteristics and risks of the asset or liability and the level of the fair value hierarchy as explained
above.
(g) Revenue recognition
Revenue is recognized to the extent that it is probable that the economic benefits will flow to the Group and the
revenue can be reliably measured, regardless of when the payment is being made. Revenue is measured at the fair
value of the consideration received or receivable, taking into account contractually defined terms of payment and
excluding taxes or duties collected on behalf of the government. The specific recognition criteria described below
must also be met before revenue is recognised.
The Group contracts with customers include an obligation to transfer multiple products and provision of services
to a customer. Revenues from customer contracts are considered for recognition and measurement when the
contract has been approved, in writing, by the parties to the contract, the parties to contract are committed to
perform their respective obligations under the contract, and the contract is legally enforceable.
The Group derives revenues primarily from IT services comprising software development and related services,
cloud and infrastructure services, maintenance, consulting and licensing of software products.
Revenue from licenses where the customer obtains a “right to use” the licenses is recognized at the time the
license is made available to the customer. Revenue from licenses where the customer obtains a “right to access” is
recognized over the access period.
The Group presents revenues net of indirect taxes in its Statement of Profit and Loss.

Sale of Products
Revenue from Sale of Products is recognised when control of the goods are constructively transferred to the
customer at an amount that reflects the consideration entitled in exchange for those goods.

Sale of Services
Revenue from provision of services is recognised based on completion of defined milestones in contracts
executed with customers and approved by customer.
Interest income
Interest income is recognized on a time proportion basis taking into account the amount outstanding and the
applicable interest rate. Interest income is included under the head “other income” in the statement of profit and
loss.
Dividend income
Dividend income is recognized when the Group’s right to receive the payment is established, which is generally
when shareholders approve the dividend.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Other income
Revenue in respect of other income is recognized when a reasonable certainty as to its realization exists.
(h) Taxes on Income
Current income tax assets and liabilities are measured at the amount expected to be recovered from or payable
to the taxation authorities. The tax rates and tax laws used to compute the amount are those that are enacted
or substantively enacted, at the reporting date in the countries where the Group operates and generates taxable
income.
Current income tax relating to items recognized outside profit or loss is recognised outside profit or loss (either
in other comprehensive income or in equity). Current tax items are recognised in correlation to the underlying
transaction either in OCI or directly in equity. Management periodically evaluates positions taken in the tax returns
with respect to situations in which applicable tax regulations are subject to interpretation and establishes provision
where appropriate.
The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the
tax rates and tax laws that have been enacted or substantively enacted by the balance sheet date. Deferred tax
assets are recognised only to the extent there is a reasonable certainty that the assets can be realised in future;
however, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets
are recognised only if there is a virtual certainty supported by convincing evidence that sufficient future taxable
income will be available against which such deferred tax assets can be realised. Deferred tax assets are reviewed as
at the balance sheet date and written down or written up to reflect the amount that is reasonably/virtually certain
(as the case may be) to be realised.
Current tax and deferred tax assets and liabilities are offset to the extent to which the Company has a legally
enforceable right to set off and they relate to taxes on income levied by the same governing taxation laws.
(i) Property, plant and equipment
Property, plant and equipment are stated at cost, less accumulated depreciation and impairment, if any. Costs
directly attributable to acquisition are capitalized until the property, plant and equipment are ready for use, as
intended by the Management. The charge in respect of periodic depreciation is derived after determining an
estimate of an asset’s expected useful life and the expected residual value at the end of its life.
When the tax incurred on purchase of assets is not recoverable from the taxation authority, the tax paid is
recognised as part of the cost of acquisition of the asset.
Repairs and maintenance costs are recognized in the Statement of Profit and Loss when incurred.
Depreciation on fixed assets is provided on a written down value method based on the useful lives estimated by
the management which are in accordance with Schedule II to the Companies Act, 2013.The management believes
that these estimated useful lives are realistic and reflect fair approximation of the period over which the assets are
likely to be used.
An item of property, plant and equipment and any significant part initially recognised is derecognised upon
disposal or when no future economic benefits are expected from its use or disposal. Any gain or loss arising on
derecognition of the asset (calculated as the difference between the net disposal proceeds and the carrying
amount of the asset) is included in the income statement when the asset is derecognised.
The residual values and useful lives of property, plant and equipment are reviewed at each financial year end and
adjusted prospectively, if appropriate.
(j) Intangible assets
Intangible assets are stated at cost less accumulated amortization and impairment. Intangible assets with finite
lives are amortized over the useful economic life and assessed for impairment. The amortization period and
the amortization method for an intangible asset with a finite useful life are reviewed at least at the end of each
reporting period. The amortization expense on intangible assets with finite lives is recognised on a straight-line
basis from the date that they available for use in the statement of profit and loss unless such expenditure forms
part of the carrying value of another asset.
Research costs are expensed as incurred. Software product development costs are expensed as incurred unless
technical and commercial feasibility of the project is demonstrated, the future economic benefits are probable,

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

the Company has an intention and ability to complete and use or sell the software, and the costs can be measured
reliably. The costs which can be capitalized include the cost of material, direct labor, and overhead costs that are
directly attributable to prepare the asset for its intended use.
Gains or losses arising from derecognition of an intangible asset are measured as the difference between the net
disposal proceeds and the carrying amount of the asset and are recognised in the statement of profit or loss when
the asset is derecognised.
Intangible assets are evaluated for recoverability whenever events or changes in circumstances indicate that their
carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the
higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis.
If such assets are considered to be impaired, the impairment to be recognized in the Statement of Profit and Loss
is measured by the amount by which the carrying value of the assets exceeds the estimated recoverable amount
of the asset. An impairment loss is reversed in the Statement of Profit and Loss if there has been a change in the
estimates used to determine the recoverable amount. The carrying amount of the asset is increased to its revised
recoverable amount, provided that this amount does not exceed the carrying amount that would have been
determined (net of any accumulated depreciation) had no impairment loss been recognized for the asset in prior
years.
(k) Leases
The determination of whether an arrangement is (or contains) a lease is based on the substance of the arrangement
at the inception of the lease.
The arrangement is, or contains, a lease if fulfilment of the arrangement is dependent on the use of a specific asset
or assets and the arrangement conveys a right to use the asset or assets, even if that right is not explicitly specified
in an arrangement.
For arrangements entered into prior to 1 April 2016, the Group has determined whether the arrangement contains
lease on the basis of facts and circumstances existing on the date of transition.
Group as a lessee
A lease is classified at the inception date as a finance lease or an operating lease. A lease that transfers substantially
all the risks and rewards incidental to ownership to the Group is classified as a finance lease.
Operating lease payments are recognized as an expense in the statement of profit and loss.
(l) Provisions
Provisions are recognized when the Group has a present obligation (legal or constructive) as a result of a past event,
it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation
and a reliable estimate can be made of the amount of the obligation.
The expense relating to a provision is presented in the statement of profit and loss net of any reimbursement.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that
reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision
due to the passage of time is recognized as a finance cost.
(m) Employee benefits
Employee benefits payable wholly within twelve months of receiving employee services are classified as short-
term employee benefits. These benefits include salaries and wages, bonus and ex-gratia. The undiscounted
amount of short-term employee benefits to be paid in exchange for employee services is recognised as an
expense as the related service is rendered by employees.

Retirement benefit in the form of provident fund is a defined contribution scheme. The Group has no obligation
other than the contribution payable to the provident fund. The Group recognizes contribution payable to the
provident fund scheme as an expense when an employee renders the related service.

The Group operates a defined benefit gratuity plan in India, which requires contributions to be made to a
separately administered fund. The cost of providing benefits under the defined benefit plan is determined based
on actuarial valuation.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Liabilities with regard to these defined benefit plans are determined by actuarial valuation, performed by an
external actuary, at each Balance Sheet date using the projected unit credit method. These defined benefit plans
expose the Company to actuarial risks, such as longevity risk, interest rate risk and market risk.

Remeasurements, comprising of actuarial gains and losses, are recognized immediately in the balance sheet
with a corresponding debit or credit to retained earnings through OCI in the period in which they occur.
Remeasurements are not reclassified to profit or loss in subsequent periods.
(n) Dividends
Final dividends on shares are recorded as a liability on the date of approval by the shareholders and interim
dividends are recorded as a liability on the date of declaration by the Group’s Board of Directors.
(o) Earnings per share
The Group presents basic and diluted earnings per share (“EPS”) data for its ordinary shares. Basic EPS is
calculated by dividing the profit or loss attributable to ordinary shareholders of the Group by the weighted
average number of ordinary shares outstanding during the period.

Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted
average number of ordinary shares outstanding for the effects of all dilutive potential ordinary shares, which
includes all stock options granted to employees.
(p) Provisions, contingent liabilities
Restructuring
A provision for restructuring is recognized when the Company has approved a detailed and formal restructuring
plan, and the restructuring either has commenced or has been announced publicly. Future operating costs are not
provided.
Onerous contracts
A provision for onerous contracts is recognized when the expected benefits to be derived by the Company from
a contract are lower than the unavoidable cost of meeting its obligations under the contract. The provision is
measured at the present value of the lower of the expected cost of terminating the contract and the expected net
cost of continuing with the contract. Before a provision is established, the Company recognizes any impairment loss
on the assets associated with that contract.
Reimbursement rights
Expected reimbursements for expenditures required to settle a provision are recognized only when receipt of such
reimbursements is virtually certain. Such reimbursements are recognized as a separate asset in the balance sheet,
with a corresponding credit to the specific expense for which the provision has been made.
Contingent liabilities
A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may,
but probably will not, require an outflow of resources. Where there is a possible obligation or a present obligation
in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made.
(q) Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.

Financial assets

Initial recognition and measurement

(i) Financial assets carried at amortized cost.

A financial asset is subsequently measured at amortized cost if it is held within a business model whose objective
is to hold the asset in order to collect contractual cash flows and the contractual terms of the financial asset give
rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount
outstanding.

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

(ii) Financial assets carried at fair value through other comprehensive income (FVTOCI).
A financial asset is subsequently measured at fair value through other comprehensive income if it is held within a
business model whose objective is achieved by both collecting contractual cash flows and selling financial assets
and the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments
of principal and interest on the principal amount outstanding. The Company has made an irrevocable election for
its investments, which are classified as equity instruments to present the subsequent changes in fair value in other
comprehensive income based on its business model.

(iii) Financial assets carried at fair value through profit or loss (FVTPL).
A financial asset, which is not categorized in any of the above categories, is subsequently fair valued through
profit or loss. All financial assets are recognised initially at fair value plus associated transaction costs, in the case
of financial assets not recorded at fair value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset. Purchases or sales of financial assets that require delivery of assets within a
time frame established by regulation or convention in the marketplace (regular way trades) are recognised on the
trade date, i.e., the date that the Company commits to purchase or sell the asset.

Subsequent measurement
For purposes of subsequent measurement, a ‘debt instrument’ is measured at the amortized cost if both the
following conditions are met:
The asset is held within a business model whose objective is to hold assets for collecting contractual cash flows,
and Contractual terms of the asset give rise on specified dates to cash flows that are solely payments of principal
and interest (SPPI) on the principal amount outstanding.
After initial measurement, such financial assets are subsequently measured at amortized cost using the effective
interest rate (EIR) method. Amortized cost is calculated by taking into account any discount or premium on
acquisition and fees or costs that are an integral part of the EIR. The EIR amortization is included in finance
income in the profit or loss. The losses arising from impairment are recognised in the profit or loss. This category
generally applies to trade and other receivables.

Equity investments:
In respect of equity investments, when an entity prepares separate financial statements, Ind AS 27 requires it to
account for its investments in subsidiaries and associates either:
(a) at cost; or
(b) in accordance with Ind AS 109.

If a first-time adopter measures such an investment at cost in accordance with Ind AS 27, it shall measure that
investment at one of the following amounts in its separate opening Ind AS Balance Sheet:
(a) Cost determined in accordance with Ind AS 27; or
(b) Deemed cost. The deemed cost of such an investment shall be its:

(i) fair value at the entity’s date of transition to Ind ASs in its separate financial statements; or
previous GAAP carrying amount at that date.

A first-time adopter may choose either (i) or (ii) above to measure its investment in each subsidiary or associate
that it elects to measure using a deemed cost.
Since the company is a first-time adopter, it has measured its investment in subsidiary and associate at deemed
cost in accordance with Ind AS 27 by taking previous GAAP carrying amount.

Derecognition
A financial asset (or, where applicable, a part of a financial asset or part of a group of similar financial assets) is
primarily derecognised (i.e. removed from the Company’s balance sheet) when:

a) the rights to receive cash flows from the asset have expired, or
b) the Company has transferred its rights to receive cash flows from the asset, and

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

the Company has transferred substantially all the risks and rewards of the asset, or
the Company has neither transferred nor retained substantially all the risks and rewards of the asset but has
transferred control of the asset.
Impairment of financial assets
In accordance with Ind AS 109, the Company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss on the following financial assets and credit risk exposure on trade receivables or
any contractual right to receive cash or another financial asset that result from transactions that are within the
scope of Ind AS 18.

ECL impairment loss allowance (or reversal) recognized during the period is recognized as income/ expense in the
statement of profit and loss (P&L).

Financial liabilities
Initial recognition and measurement
All financial liabilities are recognised initially at fair value and in the case of loans, borrowings and payables are
recognised net of directly attributable transaction costs.

Subsequent measurement
Financial liabilities are subsequently carried at amortized cost using the effective interest method. For trade and
other payables maturing within one year from the Balance Sheet date, the carrying amounts approximate fair
value due to the short maturity of these instruments.

Derecognition
Financial liability is derecognized when the obligation under the liability is discharged or cancelled or expires.
When an existing financial liability is replaced by another from the same lender on substantially different terms,
or the terms of an existing liability are substantially modified, such an exchange or modification is treated as
the derecognition of the original liability and the recognition of a new liability. The difference in the respective
carrying amounts is recognised in the consolidated statement of profit and loss.
(r) Cash and cash equivalents
Cash and cash equivalents consist of cash on hand, demand deposits and short-term, highly liquid investments
that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in
value. For this purpose, “short-term” means investments having maturity of three months or less from the date of
investment. Bank overdrafts that are repayable on demand and form an integral part of our cash management are
included as a component of cash and cash equivalents for the purpose of the consolidated statement of cash flows.

Diluted EPS is determined by adjusting the profit or loss attributable to ordinary shareholders and the weighted
average number of ordinary shares outstanding for the effects of all dilutive potential ordinary shares, which
includes all stock options granted to employees.
(s) Subsequent Events:
There are no significant events that occurred after the balance sheet date.
(t) Trade receivables
Trade receivables are initially recognized at fair value and subsequently measured at amortized cost using effective
interest method, less provision for impairment.
(u) Trade and other payables
These amounts represent liabilities for goods and services provided to the Company prior to the end of the financial
year which are unpaid. The amounts are unsecured and are presented as current liabilities unless payment is not
due within twelve months after the reporting period. They are recognized initially at fair value and subsequently
measured at amortized cost using the effective interest method.
(v) Recent accounting Pronouncements:
The Ministry of Corporate Affairs (MCA) notifies new standards or amendments to the existing standards
under Companies (Indian Accounting Standards) Rules as issued from time to time. On March 31, 2023,
MCA amended the Companies (Indian Accounting Standards) Amendment Rules, 2023, as below:

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Ind AS 1, Presentation of Financial Statements – This amendment requires the entities to disclose their
material accounting policies rather than their significant accounting policies. The effective date for adoption
of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the
amendment and the impact of the amendment is insignificant in the Standalone Financial Statements.

Ind AS 8, Accounting Policies, Changes in Accounting Estimates and Errors – This amendment has
introduced a definition of ‘accounting estimates’ and included amendments to Ind AS 8 to help entities
distinguish changes in accounting policies from changes in accounting estimates. The effective date
for adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company
has evaluated the amendment and there is no impact on its Standalone Financial Statements.

Ind AS 12, Income Taxes – This amendment has narrowed the scope of the initial recognition exemption so that it
does not apply to transactions that give rise to equal and offsetting temporary differences. The effective date for
adoption of this amendment is annual periods beginning on or after April 1, 2023. The Company has evaluated the
amendment and there is no impact on its Standalone Financial Statements

3. Property, plant and equipment

Freehold Office Furniture Total Tangible
Computers Vehicles
buildings equipment and fittings Assets
Cost
At April 01, 2020 15,725 213,112 18,240 19,239 9,742 276,058
Additions - 8,097 212 - - 8,309
Disposals/ Adjustments - - - - - -
At March 31, 2021 15,725 221,209 18,452 19,239 9,742 284,367
Additions - 12,775 - - - 12,775
Disposals/ Adjustments - - - - - -
At March 31, 2022 15,725 233,984 18,452 19,239 9,742 297,142
Additions - 21,979 223 - 3,158 25,359
Disposals/ Adjustments - - 549 - 1,149 1,698
At March 31, 2023 15,725 255,962 18,126 19,239 11,751 320,803

Freehold Office Furniture Total Tangible

Computers Vehicles
buildings equipment and fittings Assets
Depreciation/amortisation
At April 01, 2020 10,125 197,010 17,048 19,042 3,981 247,206
Charge for the year 273 4,154 530 29 1,021 6,007
Disposals/ Adjustments - - - - - -
At March 31, 2021 10,398 201,164 17,578 19,071 5,002 253,213
Charge for the year 259 8,493 369 37 859 10,017
Disposals/ Adjustments - (2) - - - (2)
At March 31, 2022 10,657 209,659 17,947 19,108 5,861 263,232
Charge for the year 248 13,416 215 25 1,559 15,462
Disposals/ Adjustments - 2 521 - 911 1,434
At March 31, 2023 10,905 223,073 17,641 19,133 6,509 277,260

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Freehold Office Furniture Total Tangible

Computers Vehicles
buildings equipment and fittings Assets
Net Block
At April 01, 2020 5,600 16,102 1,192 197 5,761 28,852
At March 31, 2021 5,327 20,045 874 168 4,740 31,154
At March 31, 2022 5,068 24,325 505 131 3,881 33,910
At March 31, 2023 4,822 32,888 484 107 5,241 43,543

As at As at
Particulars
31.03.2023 31.03.2022
4 Intangible Assets Under Development 194,245 119,245
Total 194,245 119,245
5 Non-current Investments
Unquoted, Valued at cost
a) Other non-Current Investments
Quoted & Valued at FVTOCI
Investments in equity shares in other listed entities 253 281
(Invested in Various securities in various dates)
Total 253 281
6 Other Financials Assets - Non-current
Bank deposits with more than 12 months
i) In Deposit Accounts 171,204 180,997
ii) Investments in Mutual Funds 64,628 39,283
Total 235,832 220,280
7 Deferred tax assets (net)
Deferred tax assets
Accrued employee benefits 15,656 12,382
Other timing differences - (165)
A 15,656 12,217
Deferred tax liability
Unabsorbed depreciation (555) (22)
B (555) (22)
Total 15,101 12,195
8 Other Non-Current Assets
a) Security & Other Deposits 3,513 4,298
b) EMDs 4,761 2,313
Total 8,274 6,610
9 Trade Receivables - Unsecured considered good
- Unsecured, considered good 536,650 440,068
Total 536,650 440,068

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Trade Receivables ageing schedule as at March 31, 2023

Outstanding for the following periods from due date of payment
Particulars Less than 6 6 months 1-2 Years 2-3 Years More than Total
months - 1 year 3 Years
Undisputed trade receivables - considered 400,411 76,911 26,421 9,809 23,098 536,650
good
Undisputed trade receivables - considered - - - - - -
doubtful
Disputed trade receivables - considered good - - - - - -
Disputed trade receivables - considered - - - - - -
doubtful
400,411 76,911 26,421 9,809 23,098 536,650

Trade Receivables ageing schedule as at March 31, 2022

Outstanding for the following periods from due date of payment
Particulars Less than 6 months More than
1-2 Years 2-3 Years Total
6 months - 1 year 3 Years
Undisputed trade receivables - considered 350,233 22,582 38,108 15,498 13,647 440,068
good
Undisputed trade receivables - considered - - - - - -
doubtful
Disputed trade receivables - considered good - - - - - -
Disputed trade receivables - considered - - - - - -
doubtful
350,233 22,582 38,108 15,498 13,647 440,068

10 Cash and Cash equivalents

a) Cash on hand 45 45
b) Balance with Banks
i)In Current Accounts 144,073 239,601
Total 144,118 239,646
11 Other financial assets- Current
Other loans and advances:
b) Advance for Purchases 20,874 239
c) Staff Advances 1,417 1,066
Total 22,291 1,305
12 Current tax Assets
TDS Receivable (Previous Years) 52,663 43,531
TDS Receivable (Current Year) Net 38,578 25,103
91,241 68,634

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

13 Other Current Assets

a) Other Advances
- Balances with statutory/government authorities 8,308 8,308
- Prepaid expenses 26,821 15,531
Total 35,130 23,839

2023 2022
No.of Shares (Amount in `) No.of Shares (Amount in `)
14 SHARE CAPITAL
a) Authorized Share Capital
Equity Shares of ` 2/- each 250,000,000 500,000,000 250,000,000 500,000,000
250,000,000 500,000,000 250,000,000 500,000,000
b) Issued, subscribed and fully paid up
share capital
Equity Shares of ` 2/- each 23,467,449 46,934,898 22,456,949 44,913,898
23,467,449 46,934,898 22,456,949 44,913,898
c) Rights of shareholders :
The Company has only one class of equity shareholders. Each holder of equity shares is entitled to one vote per share.

d) Reconciliation of the shares outstanding at the beginning and at the end of the year
2023 2022
No.of Shares (Amount in `) No.of Shares (Amount in `)
Equity Shares
At the beginning of the year 22,456,949 44,913,898 22,423,949 44,847,898
Add: Issue of shares 1,010,500 2,021,000 33,000 66,000
At the end of the year 23,467,449 46,934,898 22,456,949 44,913,898
23,467,449 46,934,898 22,456,949 44,913,898

e) Shareholders holding more than 5% shares in the Company

2023 2022
Name of the shareholder
No. of Shares % of holding No. of Shares % of holding
1 C.K.Shastri 2,528,592 10.77 1,728,592 7.70
2 Tikam Sujan 2,237,642 9.53 2,237,642 9.96
3 Jayant Dwarkanth 1,295,635 5.52 1,295,635 5.77

*8,00,000 equity shares were allotted to Mr. Krishna Shastri Chidella, upon conversion of Warrants allotted under Preferential
basis by the Company on 22nd February, 2023 and Listing & Trading Approvals from Stock Exchanges (Both BSE & NSE) were
given on 20th June, 2023

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

As at As at
Particulars
31.03.2023 31.03.2022
15 Other Equity
Share Premium 330,571 295,557
Warrants Forfeiture 20,803 20,803
Retained Earnings (27,844) (18,862)
Share Warrants Money - 9,233
Prior Period Adjustments (1,674) (1,674)
Foreign Currency translation reserve 38,614 27,530
Balance in Profit & Loss Account 717,992 594,981
Total 1,078,462 927,568
16 Borrowings- Financial Liabilities Non-current
Secured
(a) From banks
(i) Term loans - -
(ii) Equipment and vehicle loans 2,587 1,417
Total 2,587 1,417
17 Non-current Provisions
Provision for employee benefits:
Gratuity 56,156 43,750
Compensated absences 6,049 5,449
Other Provisions 13 77
Total 62,218 49,276
18 Trade Payables
Total Outstanding dues of MSME 17,180 2,488
Total outstanding dues of Creditors other than MSME 25,362 11,273
42,542 13,762
The information as required to be disclosed pursuant under the Micro, Small and Medium Enterprises Development
Act, 2006 (MSMED Act, 2006) has been determined to the extent such parties have been identified based on the
information available with the Company.
Particulars 31.03.2023 31.03.2022
Amount remaining unpaid:
Principal 17,180 2,488
Interest - -
Interest paid by the Company under MSMED Act, 2006 along with the amounts of - -
the payment made to the supplier beyond the appointed day
Interest due and payable for the period of delay in making payment (which has been - -
paid but beyond the appointed day during the year) but without adding the interest
specified under the MSMED Act, 2006;
Interest accrued and remaining unpaid at the end of the year - -

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Interest remaining due and payable (pertaining to prior years), until such date when - -
the interest dues as above are actually paid to the small enterprise, for the purpose
of disallowance as a deductible expenditure under Section 23 of MSMED Act 2006.

Trade Payables ageing schedule as at March 31, 2023

Outstanding for the following periods from due date of payment
Particulars Less than 6 months 1-2 Years 2-3 Years More than Total
6 months - 1 year 3 Years
MSME 17,180 - - - - 17,180
Others 20,218 4,633 - - 511 25,362
Disputed Dues - MSME - - - - - -
Disputed Dues - Others - - - - - -
37,398 4,633 - - 511 42,542

Trade Payables ageing schedule as at March 31, 2022

Outstanding for the following periods from due date of payment
Particulars Less than 6 months 1-2 Years 2-3 Years More than Total
6 months - 1 year 3 Years

MSME 2,488 - - - - 2,488

Others 10,762 - - - 511 11,273
Disputed Dues - MSME - - - - - -
Disputed Dues - Others - - - - - -
Disputed Dues - Others - - - - - -
13,250 - - - 511 13,762

19 Other current financial liabilities

Term loans - 6,481
Equipment and vehicle loans 1,495 1,529
Total 1,495 8,010
20 Other Current Liabilities
Advance from Customers 704 480
Provision for Expenses 63,552 73,436
Statutory Dues Payable 28,183 47,151
Total 92,439 121,067

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Year Ended Year Ended

Particulars
31.03.2023 31.03.2022
21 Revenue from operations
Revenue from operations 905,967 829,999
Total 905,967 829,999
22 Other Income
Interest 9,788 6,063
Foreign Exchange Fluctuations 1,099 2,575
Expected Return on Plan Assets 852 724
Profit on Sale of Vehicle 492 -
Profit on Sale of Office Equipment’s 158 -
Dividend Received 5 4
Misc Receipts - 204
Total 12,394 9,571
23 Operating Expenses
Purchases of products 101,243 22,857
Electricity Charges 4,903 3,375
Repairs & Maintenance 1,813 1,178
AMC Charges 1,395 173
Consumables 1,078 1,052
Support Services 403 -
Total 110,835 28,636
24 Employee Benefits Expense
Salaries 404,939 371,306
Gratuity 9,731 9,159
Group Medical Insurance to Staff 21,750 11,886
Contribution to Provident and other Funds 12,782 11,376
Leave Encashment Expense 600 600
Staff Welfare 6,835 7,821
Total 456,637 412,148
25 Financial Costs
Interest
- On Term Loan 154 1,049
- On Vehicle Loan 251 324
- On OD A/c - 42
- On Others 473 -
Bank Charges & Commission 1,474 2,914
Total 2,352 4,329

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Year Ended Year Ended

Particulars
31.03.2023 31.03.2022
26 Other Expenses
Professional Charges 48,414 44,676
Directors Remuneration 45,044 46,903
Rent 21,531 22,560
Travelling Expenses 14,492 4,788
Rates & Taxes 9,700 5,538
Communication Expenses 6,917 5,868
Business Promotion 4,086 2,453
Scanning charges 3,161 2,313
Donations 3,012 100
Office Maintenance 1,599 806
Bad Debts Written off 1,257 1,129
Insurance 1,254 1,036
Statutory Audit Fees 1,000 1,000
Courier and Postage 764 578
Housekeeping Expenses 579 360
Expected Credit Loss 571 541
Security Services 567 288
Printing & Stationery 294 225
Vehicle Insurance 119 121
Commission & Brokerage 104 -
Advertisement 76 492
AGM Expenses 40 40
Books,Periodicals & News Papers 2 1
EGM Expenses - 35
Total 164,585 141,851
27 Taxes
(a) Current tax 33,836 51,681
Deferred tax charge/ (credit) 2,834 (192)
Total income tax expense recognized in statement of Profit & Loss 31,002 51,873
(b) Reconciliation of effective tax rate:
Profit Before Tax (A) 122,864 207,500
Enacted tax rate in India (B) 25.168% 25.168%
Expected tax expenses (C = A*B) 30,922 52,224
Addl deduction under Income Tax Act, 1961 - -
Effect of non-Deductible expenses under Income Tax Act, 1961 (447) (543)
Income Tax -UK 3,361 -
Income tax expenses 33,836 51,681

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Year Ended Year Ended

Particulars
31.03.2023 31.03.2022
28 Components of Other Comprehensive Income (OCI)
Re-measurement gains/(losses) on employee defined benefit plans (12,080) (715)
Exchange differences on translation of foreign operations 13,257 3,159
Non-Current Investment To FVTOCI 319 (655)
Total 1,497 1,789
29 Earning per equity share
Profit for the year (in `) 137,488 190,717
Weighted average number of equity shares considered 23,467 22,457
(For calculation of basic earnings per share) - -
Add: Effect of dilution - -
Effect of dilution on account of Employee Stock Options granted - 6
Weighted average number of equity Shares considered 23,467 22,493
(For calculation of diluted earnings per share)
Earnings per share
- Basic (in `) 5.86 8.49
- Diluted (in `) 5.86 8.49
30. Additional disclosure requirements as required by the Companies Act, 2013
a) Ageing Schedule of Capital Work-in-Progress (CWIP)
Particulars Amount in CWIP for a period of
Less than 1 year 1-2 Years 2-3 Years More than 3 Years Total
(i) Projects in Progress - - - - -
(ii) Projects temporarily suspended - - - - -
Total - - - - -
Note: The Company do not have any projects whose activity has been suspended.
b) Completion Schedule for Capital Work-in-Progress whose completion is overdue because of delay due to pandemic
caused by COVID-19
To be completed in
Particulars
Less than 1 year 1-2 Years 2-3 Years More than 3 Years Total
(i) Projects in Progress - - - - -
(ii) Projects temporarily suspended - - - - -
Total - - - - -
c) Proceedings under the Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder
There are no proceedings initiated or are pending against the company for holding any benami property under the
Benami Transactions (Prohibition) Act, 1988 (45 of 1988) and rules made thereunder.
d) Willful Defaulter
The Company is not declared as willful defaulter by any bank or financial Institution or other lenders.
e) Relationship with Struck off Companies
The Company did not have any transactions with Companies struck off under Section 248 of Companies Act, 2013 or
Section 560 of Companies Act, 1956 considering the information available with the Company.

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

f) Compliance with number of layers of companies

The Company do not have any parent company and accordingly, compliance with the number of layers prescribed under
clause (87) of section 2 of the Act read with Companies (Restriction on number of Layers) Rules, 2017 is not applicable
for the year under consideration.
g) Key Financial Ratios
Reason for variance
(where the change in
Unit of March March Variation
Particulars the ratio is more than
Measurement 31, 2023 31, 2022 in %
25% as compared to the
preceding year)
Current Ratio In multiple 6.14 5.74 6.97% - The reason for variation in
Debt service coverage ratio
Debt-Equity Ratio In multiple 0.18 0.20 -10.00% is due to the reduction in
Debt Service Coverage Ratio In multiple 27.01 14.78 82.75% Debt.

Return on Equity Ratio In % 13.25% 21.92% -39.55% - The reason for variation
in Return on Equity Ratio ,
Inventory Turnover Ratio In Days - - - Net Profit Ratio , Return on
Trade receivables Turnover Ratio In Days 197 213 -7.51% Capital Employed , Return
on Investment (Assets)
Trade payables Turnover Ratio In Days 11 7 57.14% ratio is due to the reduction
in Net Profit because of
Net Working Capital Turnover Ratio In Days 186 207 -10.14% new investment in talent
Net Profit Ratio In % 18.60% 29.23% -36.37% services. These investments
will yield results in the
Return on Capital Employed In % 15.15% 25.23% -39.95% coming years.
Return on Investment (Assets) In % 11.15% 17.62% -36.72%
Formula adopted for above Ratios:
Current Ratio = Current Assets / (Total Current Liabilities – Security Deposits payable on Demand – Current maturities
of Long-Term Debt)
Debt-Equity Ratio = Total Debt / Total Equity
Debt Service Coverage Ratio = (EBITDA – Current Tax) / (Principal Repayment + Gross Interest on term loans)
Return on Equity Ratio = Total Comprehensive Income / Average Total Equity
Inventory Turnover Ratio (Average Inventory days) = 365 / (Net Revenue / Average Inventories)
Trade receivables Turnover Ratio (Average Receivables days) = 365 / (Net Revenue / Average Trade receivables)
Trade Payables Turnover Ratio (Average Payable days) = 365 / (Net Revenue / Average Trade payables)
Net Working Capital Turnover Ratio = (Inventory Turnover Ratio + Trade receivables turnover ratio – Trade payables
turnover ratio)
Net Profit Ratio = Net Profit / Net Revenue
Return on Capital employed = (Profit Before Tax + Interest) / (Average of (Equity + Total Long-term debt))
Return on Investment (Assets) = Total Comprehensive Income / Average Total Assets
h) Scheme of arrangements
There are no Scheme of Arrangements approved by the Competent Authority in terms of sections 230 to 237 of the
Companies Act, 2013 during the year.
i) Advance or loan or investment to intermediaries and receipt of funds from intermediaries
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 person(s) or entity(ies), including foreign entities (Intermediaries) with the
understanding (whether recorded in writing or otherwise) that the Intermediary shall (i) directly or indirectly lend or

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

invest in other persons or entities identified in any manner whatsoever by or on behalf of the company (Ultimate
Beneficiaries) or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate beneficiaries.
The company has also not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party)
with the understanding (whether recorded in writing or otherwise) that the company shall (i) 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 (ii) provide any guarantee, security or the like on behalf of the Ultimate beneficiaries.
j) Pending Charge or satisfaction with ROC
The Company do not have any charges or satisfaction which is yet to be registered with Registrar of Companies (‘ROC’)
beyond the statutory period.
k) Undisclosed Income
The Company do not have any transactions which are not recorded in the books of accounts that has been surrendered
or disclosed as income in the tax assessments under the Income Tax Act, 1961 during any of the years.
l) Details of Crypto Currency or Virtual Currency
The Company did not trade or invest in Crypto Currency or virtual currency during the financial year. Hence, disclosures
relating to it are not applicable.
m) Revaluation of Property, Plant and Equipment’s
During the year ended 31st March 2023, the Company has not revalued its Property, Plant and Equipment’s.
n) Title deeds of Immovable Properties
Tittle deeds comprising of all the Immovable properties of the land and building held by the company are in the name
of company as at the balance sheet date.
31. Commitments and Contingencies
Contingent liabilities
Year Ended Year Ended
Particulars
31st March 2023 31st March 2022
Counter Guarantees given to Banks towards issue of B.G.s 38,935 37,500
Dues relating to Income tax* 5,103 5,103
* Dues Relating to Income Tax for the Financial Year 2016-17 relevant to the Assessment Year 2017-18 the Company has demand of `5,103
thousand which the Company is contesting and filed an application for verification under sec.154 of the Income Tax Act. Based on consultant
opinion the Company is confident of favorable opinion.

32. Employee Benefits

a) Defined contribution plan
Eligible employees receive benefits from the provident fund & ESI, which is a defined contribution plan. Both the employee
and the Company make monthly contributions to the provident fund plan equal to a specified percentage of the covered
employee’s basic salary. The Company has no further obligations under the plan beyond its monthly contributions. The
Company’s contribution to the Employees’ Provident Fund scheme maintained by the Central Government is charged to
the statement of profit and loss on accrual basis.
Year Ended Year Ended
Particulars
31st March 2023 31st March 2022
Contribution to provident and other funds recognized as expense in the 12,782 11,376
Statement of P & L
b) Disclosures related to defined benefit plan
The Company has a defined benefit gratuity plan and is governed by Payment of Gratuity Act, 1972. Every employee who
has completed five years or more of service gets a gratuity on departure at 15 days last drawn salary for each completed
year of service. The scheme is funded by Life Insurance Corporation in the form of a qualifying insurance policy. The
following tables summarize the components of net benefit expense recognized in the statement of profit and loss, the
fund status and balance sheet position:

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

A) Net employee benefit expense (included under employee benefit expenses)

Year ended Year ended
Particulars
31.03.2023 31.03.2022
Current service cost 6,029 5,778
Interest cost on benefit obligation 3,702 3,380
Expected return on plan assets (852) (724)
Net employee benefit expenses 8,879 8,434
B) Amount recognized in the Balance Sheet
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Defined benefit obligation 67,806 52,884
Fair value of plan assets (11,650) (9,134)
Net Plan Liability 56,156 43,750
C) Changes in the present value of the defined benefit obligation for Gratuity are as follows
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Opening defined benefit obligation 52,884 48,292
Current service cost 6,029 5,778
Interest cost 3,702 3,380
Benefits paid (6,889) (5,282)
Net Actuarial (gains)/losses on obligation for the year 12,080 716
recognised under OCI
Closing defined benefit obligation 67,806 52,884
D) Changes in fair value of plan assets
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Fair Value of Assets at the beginning of the year 9,002 8,598
Expected return on plan assets 852 724
Contributions 8,553 4,962
Benefits paid (6,889) (5,282)
Other Adjustments 132 -
Closing fair value of plan assets 11,650 9,002
The major categories of plan assets as a percentage of the fair value of total plan assets are as follows:
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Investments with Life Insurance Corporation 100% 100%
E) Amount recognized in statement of other comprehensive income (OCI):(gross)
Year ended Year ended
Particulars
31.03.2023 31.03.2022
Remeasurement for the year - Obligation gain 12,080 716
Closing amount recognized in OCI 12,080 716
The principal assumptions used in determining gratuity obligations for the Company’s plans are shown below:
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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

Year ended Year ended

Particulars
31.03.2023 31.03.2022
Discount rate 7.00% 7.00%
Expected rate of return on assets 6% 6%
Salary rise 6% 6%
1. The estimate of future salary increases, considered in actuarial valuation, takes account of inflation, seniority,
promotion and other relevant factors, such as supply and demand in the employment market.
2. The expected rate of return on assets is based on the expectation of the average long-term rate of return
expected on investments of the fund during the estimated term of the obligations.
33. Details of dues to micro and small enterprises as defined under the MSMED Act, 2006
Group companies don’t have any dues to micro and small enterprises as defined under the MSMED Act,2016 for the year
ended 31st March 2023.
34. Remuneration to Statutory Auditors
Year ended Year ended
Particulars
31.03.2023 31.03.2022
As Auditor
Statutory audit & Limited review 1,000 1,000
Total 1,000 1,000
35. Related party disclosures
Names of related parties and description of relationship
Name of the related party Relationship
1. C.K.Shastri Chairman and Managing Director
2. Jayant Dwarkanath Wholetime Director
3. C. Anisha Shastri Wholetime Director (Daughter of Chairman & Managing Director)
4. Intense Technology FZE Wholly Owned Subsidary
5. Intense Technology U.K Wholly Owned Subsidary
6. Intense Technology INC Wholly Owned Subsidary
7. Reasy Pte Limited Wholly Owned Subsidary
In accordance with the provisions of Ind AS 24 “Related Party Disclosures” and the Companies Act, 2013, Company’s Directors,
members of the Company’s Management Council and Company Secretary are considered as Key Management Personnel.
List of Key Management Personnel of the Company is as below:
1. C.K.Shastri Chairman and Managing Director
2. Jayant Dwarkanath Whole-time Director
3. C. Anisha Shastri Whole-time Director
4. H.Madhukar Nayak(Up to 30.05.2023) Chief Financial Officer
5. Nitin Sarda (w.e.f. 01.06.2023) Chief Financial Officer
6. Saheli Banerjee (Upto 22.02.2023) Company Secretary & Compliance Officer
7. Pratyusha Podugu (From 18.04.2023) Company Secretary & Compliance Officer

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

36. Significant accounting judgements, estimates and assumption

The preparation of the Company’s financial statements requires management to make judgements, estimates and assumptions
that affect the reported amounts of revenues, expenses, assets and liabilities, and the accompanying disclosures, and the
disclosure of contingent liabilities.
Uncertainty about these assumptions and estimates could result in outcomes that require a material adjustment to the
carrying amount of assets or liabilities affected in future periods.
(A) Judgements
In the process of applying the Company’s accounting policies, management has made the following judgements, which
have the most significant effect on the amounts recognized in the financial statements.
(i) Lease commitments - the Company as lessee
The Company has entered into leases for office premises. The Company has determined, based on an evaluation of
the terms and conditions of the arrangements, such as the lease term not constituting a major part of the economic
life of the land and office premises and the fair value of the asset, that it does not retain significant risks and rewards
of ownership of the land and the office premises and accounts for the contracts as operating leases.
(B) Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that
have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next
financial year, are described below. The Company based its assumptions and estimates on parameters available when
the financial statements were prepared. Existing circumstances and assumptions about future developments, however,
may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes
are reflected in the assumptions when they occur.
(i) Defined employee benefit plans (Gratuity)
The cost of the defined benefit gratuity plan and the present value of the gratuity obligation are determined
using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from
actual developments in the future. These include the determination of the discount rate, future salary increases
and mortality rates. Due to the complexities involved in the valuation and its long-term nature, a defined benefit
obligation is highly sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
• The parameter most subject to change is the discount rate. In determining the ppropriate discount rate for
plans operated in India, the management considers the interest rates of government bonds in currencies
consistent with the currencies of the post-employment benefit obligation.
• The mortality rate is based on publicly available mortality tables. Future salary increases and gratuity increases
are based on expected future inflation rates. Further details about gratuity obligations are given in Note 33
37. Fair Values
The management assessed that loans, cash and cash equivalents, trade receivables, borrowings, trade payables and other
current liabilities approximate their carrying amounts largely due to the short-term maturities of these instruments.
The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in
a current transaction between willing parties, other than in a forced or liquidation sale.
38. Financial risk management objectives and policies
Financial Risk Management Framework
The Company is exposed primarily to Credit Risk, Liquidity Risk and Market risk (fluctuations in foreign currency exchange
rates and interest rate), which may adversely impact the fair value of its financial instruments. The Company assesses the
unpredictability of the financial environment and seeks to mitigate potential adverse effects on the financial performance of
the Company.
Credit Risk
Credit risk is the risk that a counterparty will not meet its obligations under a financial instrument or customer contract,
leading to a financial loss.
Credit risk encompasses both, the direct risk of default and the risk of deterioration of creditworthiness as well as
concentration of risks. Credit risk is controlled by analyzing credit limits and creditworthiness of customers on a continuous
basis to whom the credit has been granted after obtaining necessary approvals for credit. Financial instruments that are

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OVERVIEW REPORTS STATEMENTS

Intense Technologies Limited

(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

subject to concentrations of credit risk principally consist of trade receivables, investments, loans, cash and cash equivalents,
bank deposits and other financial assets. None of the financial instruments of the Company result in material concentration
of credit risk, except for trade receivables.
Exposure to credit risk:
The carrying amount of Trade receivable represents the maximum credit exposure. The maximum exposure to credit risk
was `536,650 and `440,068 as of March 31, 2023 & March 31, 2022 respectively, being the total of the carrying amount of
balances with trade receivables.
Trade receivables:
Ind AS requires expected credit losses to be measured through a loss allowance. The Company assesses at each date of
statements of financial position whether a financial asset or a group of financial assets is impaired. Expected credit losses are
measured at an amount equal to the 12 month expected credit losses or at an amount equal to the life time expected credit
losses if the credit risk on the financial asset has increased significantly since initial recognition.. The Company has used a
practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix. The
provision matrix takes into account historical credit loss experience and adjusted for forward-looking information.
Before accepting any new customer, the Company uses an external/internal credit scoring system to assess the potential
customer’s credit quality and defines credit limits of customer. Limits and scoring attributed to customers are reviewed at
periodic intervals. The expected credit loss allowance is based on the ageing of the days the receivables are due and the rates
as given in the provision matrix.
Liquidity Risk
Liquidity risk refers to the risk that the Company cannot meet its financial obligations. The objective of liquidity risk
management is to maintain sufficient liquidity and ensure that funds are available for use as per requirements. The Company
manages liquidity risk by maintaining adequate reserves, banking facilities and reserve borrowing facilities, by continuously
monitoring forecast and actual cash flows, and by matching the maturity profiles of financial assets and liabilities.
Market Risk
Market risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in
market prices. Such changes in the values of financial instruments may result from changes in the foreign currency exchange
rates, interest rates, credit, liquidity and other market changes. The Company’s exposure to market risk is primarily on account
of foreign currency exchange rate risk.
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 a change
in market interest rates.
As the Company’s debt obligation with Fixed interest rates are in Rupees which is subject to insignificant change, exposure to
the risk of changes in market interest rates are substantially independent of changes in market interest rates. As the company
has no significant interest-bearing assets, the income and operating cash flows are substantially independent of changes in
market interest rates.
Foreign Currency exchange rate risk
The fluctuation in foreign currency exchange rates may have potential impact on the statement of profit or loss and other
comprehensive income and equity, where any transaction references more than one currency or where assets / liabilities
are denominated in a currency other than the functional currency of the respective entities. Considering the countries
and economic environment in which the Company operates, its operations are subject to risks arising from fluctuations in
exchange rates in those countries. The risks primarily relate to fluctuations in US Dollar, Euros, AED and GBP against the
functional currencies of the Company Foreign Currency

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Intense Technologies Limited
(CIN:L30007TG1990PLC011510)
Notes to Consolidated Financial Statements for the year ended 31st March 2023
(All amounts are in Indian Rupees in thousands, except share data and unless otherwise stated)

39. Group information

Information about subsidiaries
The Consolidated Financial Statements of the Group include subsidiaries listed in the table below:
Percentage of Equity Interest
Name
Country of Incorporation 31-Mar-23 31-Mar-22
Intense Technologies FZE UAE 100% 100%
Intense Technologies U.K Ltd United Kingdom 100% 100%
Intense Technologies INC USA 100% 100%
Reasy Pte Ltd Singapore 100% 100%

As per our Report of even date attached.

MSPR & Co., For and on behalf of the Board of Directors of

Chartered Accountants INTENSE TECHNOLOGIES LIMITED
Firm Regn.No.010152S

Madhusudhan Voruganti C.K. Shastri Jayant Dwarkanath

Partner Managing Director Director
Membership No.208701 DIN: 00329398 DIN: 00329597
UDIN:23208701BGVVJD6530

Date:30th May 2023 H. Madhukar Nayak Pratyusha Podugu

Place: Secunderabad Chief Financial Officer Company Secretary

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Intense Technologies Limited
A1, Vikrampuri, Secunderabad – 500009
Telangana, India
Tel: +91-40-44558585
Fax: +91-40-27819040
www.in10stech.com