Do Big Through Connectivity, Security, Cloud and Collaboration Solutions
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Enabling Enterprises to Do Big Through connectivity, security, cloud and collaboration solutions. ANNUAL REPORT 2020-21 Index Corporate Overview In a world navigating through large- 01 Who we are scale disruption and rapid change, 02 Board of Directors 04 Our response to COVID-19 enterprises are accelerating their 05 Awards and Accolades digital transformation by several Statutory Reports years to survive and thrive in the 06 Corporate details new normal. With our connectivity, 07 List of banks and financial institutions 08 Notice security, cloud and collaboration 14 Directors’ Report offerings, we have been enabling Financial Statements businesses to simplify the transition 34 Standalone Independent Auditors’ Report effectively. Our deep understanding 42 Standalone Balance Sheet 44 Standalone Statement of Profit & Loss Account of businesses is reflected in our wide 45 Standalone Cash Flow Statement 49 Notes forming part of the Standalone Financial Statements array of innovative products which 117 Consolidated Independent Auditors’ Report 124 Consolidated Balance Sheet drive digital inclusion. 126 Consolidated Statement of Profit & Loss Account 128 Consolidated Cash Flow Statement 132 Notes forming part of the Consolidated Financial Statements 202 Form AOC – I As the coronavirus pandemic altered the very way people work and interact, we empowered our customers to seamlessly move to a remote working environment, facilitating a culture of collaboration for today’s anytime, anywhere, any device workforce. The expanding digital ecosystem, however, has brought in more pervasive cyber security risks. We are enabling our customers to harness the power of digital technologies and build a more connected and secure future. Who we are Tata Teleservices Limited (TTSL) is a leading player in the connectivity and communication solutions market for enterprise customers. With services ranging from connectivity, collaboration, cloud, security, IoT and marketing solutions, we offer a comprehensive portfolio of ICT services for businesses in India under the brand name Tata Tele Business Services (TTBS). TTBS provides integrated telecom solutions to small, medium & large Our promise enterprises which go beyond the purview of connectivity into offering one-stop-shop business solutions and managed services. Our solutions allow enterprises to be resilient and maintain business continuity in a flexible, Develop Deliver Delight scalable and secure manner. Develop deep Deliver pioneering Delight our customers understanding of the products & services of with great experience at We have a progressive approach of unique needs of our outstanding quality & every touch point partnering with SMEs as technology customers value enablers and subject matter experts to bring them at par with the fast- evolving tech landscape. Our objective is to provide products and services that significantly impact the competitiveness of our customers and enable them to DO BIG. We deliver customer delight with solutions through deeper understanding of unique customer needs. Our solutions allow enterprises to be resilient and maintain business continuity in a flexible, scalable and secure manner. TELESERVICES LIMITED ANNUAL REPORT 2020-21 Board of Directors Our Board steers the business towards sustainable growth, with the objective of mutual growth of our customers and company’s long-term goals. Mr. Amur S Lakshminarayanan Ms. Bharati Rao Dr. Narendra Damodar Jadhav Chairman (Non-Executive) Independent Director Independent Director Mr. Lakshminarayanan is a longstanding Ms. Rao is a former banker and she has the Dr. Jadhav is a renowned author, economist, member of the Institute of Electrical distinction of being the first woman Deputy educationist, social scientist and public and Electronics Engineers (IEEE). He has Managing Director of the State Bank of India speaker. He currently serves as a Member over 35 years of experience in a broad (SBI). She has over 40 years of experience in of Parliament (Nominated to Rajya Sabha range of leadership roles across regions banking and financial sector in companies. by Hon President of India), and visiting and industries. He holds a Degree in Ms. Rao has a post graduate degree in faculty at four distinguished universities. Mechanical Engineering from BITS, Pilani Economics from Madras University. She Dr. Jadhav, in his four decades of public and is an alumnus of London Business currently serves on the boards of companies service, has served in key positions as School. He is currently the Managing like the SBI Capital Markets Ltd., SBI CAP Member of the Planning Commission and Director and Chief Executive Officer of Tata Securities Ltd., Suprajit Engineering Ltd., the National Advisory Council. He has also Communications Limited. Prior to joining Neuland Laboratories Ltd., Delphi – TVS held the position of Vice-Chancellor at Tata Communications, he was President Technologies Ltd. and Tata Teleservices Ltd. University of Pune and Principal Adviser and CEO of Tata Consultancy Services and Chief Economist, Reserve Bank of India Japan, Ltd., Global Head of four P&L units (RBI). During his 31-year association with the (Telecom, Media & Information Services, RBI, he also served in Advisory capacities HiTech and Utilities) and Head of UK & at International Monetary Fund (IMF) and Europe business. Governments of Afghanistan and Ethiopia. Dr. Jadhav holds a PhD in Economics from Indiana University, USA and has penned or edited 43 books, numerous reports and research papers. He is a recipient of 70 national and international awards, including four Honorary D-Litt Degrees, and the title of the Commander of the Order of Academic Palmes by the Government of France. He currently serves on the boards of companies like Jain Irrigation Systems Ltd., Sustainable Agro-commercial Finance Ltd., Dhani Services Ltd., Dhani Loans and Services Ltd., Tata Teleservices Ltd. and Tata Teleservices (Maharashtra) Ltd. 2 COMPANY OVERVIEW Mr. Ankur Verma Mr. N. Srinath Non-Executive Director Non-Executive Director Mr. Verma has around 16 years of Mr. Srinath joined the Tata Administrative experience in Investment Banking, Capital Services in 1986. He has held positions in Markets and Corporate Strategy. He is the Project Management, Sales & Marketing, Senior Vice President, Chairman’s Office and Management in different Tata at Tata Sons Pvt. Ltd. Previously, he was companies in the ICT sector over the Managing Director (Investment Banking past 35 years. Under his leadership, Tata Division) in Bank of America Merrill Lynch, Communications transformed from a and also Group Manager & Head, Business monopoly, public sector undertaking into Planning in Infosys Technologies Limited a global communications services provider – Corporate Planning Group. Mr. Verma offering advanced network, managed and has PGDM from IIM Calcutta, and is a B.E. cloud services to customers worldwide. in Mechanical Engineering. He currently In 2008 and 2009, Mr. Srinath was named serves on the boards of companies like Tata as the world’s eighth most influential Capital Housing Finance Ltd., Tata Elxsi Ltd., telecom personality by the Global Telecoms Tata AutoComp Systems Ltd., Tata Sky Ltd., Business magazine, as well as the ‘Telecom Tata Teleservices Ltd. and Tata Teleservices Person of the Year’ by the India-based (Maharashtra) Ltd. Voice and Data magazine in 2008. He has a degree in Mechanical Engineering from IIT Chennai and a Management Degree from IIM Calcutta, specialising in Marketing and Systems. Mr. Srinath has joined as CEO of Tata Trusts with effect from April 1, 2020. He currently serves on the boards of companies like Tata Communications Ltd., Tata Industries Ltd., Tata Teleservices Ltd. and Tata Teleservices (Maharashtra) Ltd. 3 TELESERVICES LIMITED ANNUAL REPORT 2020-21 Our Response to COVID-19 The COVID-19 pandemic has caused unprecedented disruption, affecting physical and financial health of millions globally. At TTSL we ensured safety and well-being of our employees. We also undertook multiple customer-centric initiatives to enable their business continuity with minimal disruption. Ensuring safety and well- being of our Some of our prominent product launches are point connectivity, enabling cloud connect employees as below: to prominent cloud service providers in a We ensured the safety of our employees by cost-effective manner with faster delivery strictly following the government guidelines timelines. in each of our offices. We launched SABAL, Collaboration Solutions a company sponsored employee assistance To address the continuous shift in modern program, which enabled Online/Telephone workplace, where employees expect more counselling, along with face-to-face counselling openness, collaboration and flexibility in and enabled “Doctor on Call” facility for our Smartflo how they stay connected, we launched a employees and their family members. It is an anytime, anywhere, flexible suite of host of plug and play collaboration solutions, advanced cloud communication solutions for With a specific employee safety and well- such as web conferencing solutions, hosted enterprises. It has been innovatively designed being policy, comprising of guidelines and interactive voice response (‘HIVR’), and to support the new hybrid work culture. It standardised practices, based on robust international bridging services (‘IBS’). allows uninterrupted connectivity between processes, we formalised COVID Standard all stakeholders, internally within employees Operating Procedure and deployed it