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Nucleus AR 1-16 United Colour KYC Data Pay security Grow Conventional Lending Customer Service Marke MakingInterest AccrualsVirtual keyboard Research Teller Sales Islamic Banking Business Technology Manual renewal ti Interest Interest ACH Credits ACH Transactions Profit Leadership En Retail ng Mul Cost optimization Banking ti ty Status Check ty Status Retail banking Jurisdictions Customer Global Liquidity Management Pro INSTA cheques ti Product offerings laundering risks Money Term Deposit -service Banking transac Award Winning Tools Fleet Finance fi Tabular FX rates Cash Higher Stakeholder Pool Interest Mul Organizations Mul t Deposits Commercial lending Specialised Lending Analy Lending Modules Performance Local Local Cash Flows ti Combo Loans Finance Against Securi Finance Against ti - geography Asset management Asset -currency Sales Forrester Forrester mCAS research ti Strategies Finance Variable Leasing EMI Schedule ons Security Module Financial Quotes Loan Delinquency ons FCY Notional Pooling CASA ti ca Interest Interest Audit Trails Clients Data Banking Business Internet fi Hub Single sign-on Award Vision Cash Certificates business ECM Integrated Transac Integrated Forrester ti Financing Support Credit Cards Status Bill research Primary market Auto loans Auto Cash Educa Term No Cash Bill Synergizing ti Geography es Recurring Deposits Recurring Asset management Asset Vision Awards Strengthened Business Control Strengthened Cost ServicesCustomer Acquisition System Recovery Management Recovery ti Client Collections ti Mortgage on Loans Tracking Lending Customer Services cs Repayment management Warrant Re-scheduling Enquiry tools op Cost e-FSCM Educa Research Mul Rules Careers Leveraging ECM Agility ti Loan Management Warrant ti on Banking Android ti Duplication on Loans Seamlessly Integrated Product Suite Product Seamlessly Integrated Global Payments Shariah -product ti Alerts players Global Ownership Grow Pool Interest Data miza Partners EMI Schedule Easy channel Alerts INSTA cheques INSTA Insurance ti Robust security Robust ti General Ledger Global Payments Payroll on Ownership Dynamics Debtors Scalable Service Mul Careers Reliability Accounting Audit Trails Investor Funding Cash Cer Access Balance Tracking relations Personal loans User Money Home loans Cheques Tax on Customer Delight Customer Variable Floa Monitoring ti Buyer Operational Efficiency Accounting Floating Flagship product MICR Release Press Loan Delinquency ti Renewal ng Monies Monies Tabular FX rates FX Tabular Inventory Funding Inventory Rules ti Analysis Quotes Interest Accruals Money Dynamic mapping Fleet Finance fi Credits So Multichannel Alerts business cates Innova ft Forecaster Global Liquidity Management Global Liquidity Management ware BPM Quotes Design Dealer Funding Lending Retail Retail Performance Clients LCY Mobility Hub ‘Easy’Approach Satisfaction andGlobal Synergizing Leadership RFI Islamic Banking Customized Management E-banking Cross Border Report Enquiry tools Credibility Hub Channel Partners Bills Discounting I–ARMS Loan Tools Transaction BankingRetail Balance Tracking Multi-service IBS Publishing Treasury Loans Gartner Funding Risk Re-pricing Geography RFP Support Mobility suite CRM Robust security Robust Retail ‘Enriching’Architecture Process Security BPM Flagship product Release Customized Balance RFI Engine CFO dashboards Balance Tracking ECM Presentations RFP Positive pay Investor Investor Audit Direct Debits Direct Cash Flows Design RatesSchedule Manual Balance Analysis Accessibility Cost Tax CalculatiRegional on Finances 24/7 Rules Global Term Deposit EMI Product User MICR Strategies Strategies Corporate Duplica WorldwideEntity Status Check Collections ti on NUCLEUS SOFTWARE EXPORTS LIMITED ANNUAL REPORT 201314 ‘ICAI Awards for Excellence in Financial Reporting’ EƵĐůĞƵƐ^ŽŌǁĂƌĞΖƐŶŶƵĂůZĞƉŽƌƚŝŶĐůƵĚŝŶŐƚŚĞĮŶĂŶĐŝĂůƐƚĂƚĞŵĞŶƚƐĨŽƌƚŚĞLJĞĂƌ ĞŶĚĞĚDĂƌĐŚϯϭ͕ϮϬϭϯ͕ǁĂƐŝŶĚƵĐƚĞĚŝŶƚŽƚŚĞĐŽǀĞƚĞĚ,ĂůůŽĨ&ĂŵĞďLJƚŚĞ /ŶƐƟƚƵƚĞŽĨŚĂƌƚĞƌĞĚĐĐŽƵŶƚĂŶƚƐŽĨ/ŶĚŝĂ͕ŝŶƚŚĞĐĂƚĞŐŽƌLJ͕^ĞƌǀŝĐĞƐĞĐƚŽƌ;ŽƚŚĞƌ ƚŚĂŶĮŶĂŶĐŝĂůƐĞƌǀŝĐĞƐͿǁŝƚŚƚƵƌŶŽǀĞƌůĞƐƐƚŚĂŶZƐ͘ϱϬϬĐƌŽƌĞ͕ŽĨƚŚĞ͚//ǁĂƌĚƐ ĨŽƌdžĐĞůůĞŶĐĞŝŶ&ŝŶĂŶĐŝĂůZĞƉŽƌƟŶŐ͛ĨŽƌƚŚĞLJĞĂƌϮϬϭϮͲϭϯ͘ Dƌ͘sŝƐŚŶƵZƵƐĂĚ͕KĂŶĚDĂŶĂŐŝŶŐŝƌĞĐƚŽƌĂŶĚDƌ͘WƌŝƚŚǀŝ,ĂůĚĞĂ͕EŽŶͲĞdžĞĐƵƟǀĞ͕/ŶĚĞƉĞŶĚĞŶƚ ŝƌĞĐƚŽƌŽĨEƵĐůĞƵƐ^ŽŌǁĂƌĞƌĞĐĞŝǀĞĚƚŚĞĂǁĂƌĚŽŶďĞŚĂůĨŽĨƚŚĞŽŵƉĂŶLJ͘ CONTENTS Chairman’s Message 2 Balance Sheet 74 CEO’s Message 5 Profit & Loss Account 75 The Road to Transformation 7 Statement of Cash Flow 76 Integrated Talent Development 8 Notes forming part of the financial statements 77 and Management Statement as per Section 212 104 Product Innovation 9 Management’s Discussion and 105 Customer Focus & Market 11 Analysis of Financial Condition and Expansion for growth Results of Consolidated Operations Corporate Governance 12 Risk Management Report 116 Awards & Recognitions 13 Corporate Social Responsibility 120 Board of Directors 14 Auditors‘ Report 122 Years at a Glance 17 Consolidated Financial Statements 124 Directors’ Report 19 Shareholders’ Referencer 154 Report on Corporate Governance 32 Economic Value Added 164 Management’s Discussion and 59 Segment Information & Ratio Analysis 165 Analysis of Financial Condition and Results of Operations Glossary 168 Auditors’ Report 70 Cautionary statement regarding forward-looking statements Certain statements in this Annual Report are based on assumptions and expectations of future events and may be considered as forward-looking statements. Such statements must be reviewed in conjunction with the risks that the Company faces. Although the Management has considered future risks as part of the discussions, future uncertainties are not limited to the Management perceptions. From the Chairman’s Desk are sll declining in several countries. Deflaon is a new threat in Europe. Quantave easing in the US is being wound up while rising in Japan, with expectaons of similar steps in the EU. Central banks in these countries are commied to keep interest rates close to zero for some years and there is a fierce debate on how this affects the less developed/ emerging economies. We, in India, saw turbulent currency markets in July and August 2013 with steep depreciaon of the Rupee. High volality creates uncertainty and risks are to be connuously monitored. Informaon Technology industry in India is expected to clock export revenues of USD 84-87 billion in FY 15 maintaining a growth rate of 12-14 per cent (Source: Nasscom). IT services and soware products will lead this growth. Increase in IT adopon by companies will lead to a significant shi towards emergence of new technologies. The role of IT in organizaons will evolve from being "order takers" to transformave "business partners". Janki Ballabh Informaon Technology is connuing to play a crical role in growth of the banking sector, the Dear Shareholders, industry segment your Company caters to. Larger banks are successfully implemenng the basic IT th Warm greengs to all of you in this 25 year of infrastructure to run their operaons, and the next your Company's remarkable history, started by er is also moving towards greater IT adopon young entrepreneurs with "value creaon" being through increased usage of technology and the driving force. replacement of legacy systems, to meet the growing and ever–changing business requirements. As I write to you, the polical environment in our To effecvely leverage this opportunity, IT country has changed dramacally. This has led to companies are today required to grow and nurture widespread hope of an economic upsurge. Our their capabilies, governance models and IT talent cizens are righully expecng a higher GDP management. End user sasfacon and value growth accompanied by rising living standards creaon will remain most crical and will require across the enre social strata. We, at Nucleus greater aenon. Soware, are commied to developing technology soluons for financial inclusion which, we believe, will enrich the people of our country as a whole. Preceding Twelve Months Our focus in the year was on transformaon of your Company to achieve growth in revenue and Information Technology profitability as well as to rightly posion your around the world Company in the future. Product companies need to Nearly six years aer the global financial crisis, the innovate constantly; product development and ‘go world economy is witnessing signs of revival this to market’ strategies are key to success. year, pulled along by a recovery in the high-income economies. Global economic indicators are Mobile technology is changing how individuals are showing visible improvements. However, one does understood and engaged. Your Company is now not have to be especially astute to see that there building a team to develop new products and are sll dangers that lurk beneath the surface. The applicaons to exploit the huge benefits of this Euro Area is out of recession but median incomes technology. Our R&D centre, duly recognised by Annual Report 2013-14 | 02 NUCLEUS SOFTWARE EXPORTS LIMITED the Department of Scienfic and Industrial coveted Hall of Fame by the Instute of Chartered Research, Government of India launched two new Accountants of India, in the relevant category, of path breaking product suites: FinnAxiaTM the ‘ICAI Awards for Excellence in Financial integrated transacon banking offering and the Reporting’. This elevaon was in recognion of FinnOneTM Mobility product suite. The Mobility your Company having won this annual award for suite, consisng of FinnOneTM mCAS, mServe and fih year in a row. mCollect, have been tailored to cater to specific market needs in originaon, lending and collecons operaons management to help our Looking ahead..
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