Seshadri Sampath Kumar
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SEC/SE/049/19-20 Chennai, July 05, 2019 BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, P J Towers, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (East), Scrip Code: 533121 Mumbai - 400 051 Scrip Code: EXPLEOSOL Sub: Submission of Annual Report for the Financial Year 2018-19 along with Notice of 21st Annual General Meeting. Dear Sir/Madam, Pursuant to Regulation 34 (1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached the Annual Report for the financial year 2018-19 along with Notice of 21st Annual General Meeting of the Company. You are requested to take the above on record and oblige. Thanking you, Yours faithfully, For Expleo Solutions Limited (Formerly known as SQS India BFSI Limited) S. Sampath Kumar Company Secretary and Compliance Officer Membership No. FCS 3838 Expleo Solutions Ltd. (Formerly known as SQS India BFSI Ltd.) 6A, Sixth Floor, Prince InfoCity II, No. 283/3 & 283/4, Rajiv Gandhi Salai (OMR) Kandanchavadi, Chennai 600096 • India • T. +91 44 4392 3200 CIN: L64202TN1998PLC066604 • GST No: 33AABCT0976G1ZG Expleo Solutions Ltd. EXPLEO SOLUTIONS LTD. (formerly SQS India BFSI Ltd.) (.FORMERLY SQS INDIA BFSI LTD) ژĺ ª¯ÔªĺpÀ ǝ°ژ6A, Sixth Floor, Prince InfoCity II, ǝhwÞw No. 283/3 & 283/4, Rajiv Gandi Salai (OMR)ĺ Kandanchavadi, Chennai – 600 096, Indiaĺ T. +91 44 43923200 Annual Jeport FY 2018 – 2019 Expleo Solutions Ltd. business locations Countries where Expleo Group is represented Printed by Chennai Micro Print (P) Ltd. - 77 expleogroup.com Think bold, act reliable Expleo Solutions Limited (formerly known as SQS India BFSI Limited) Corporate information BOARD OF DIRECTORS René Gawron Chairman & Director Prof. K. Kumar Deputy Chairman & Independent Director Balaji Viswanathan Managing Director & CEO Lilian Jessie Paul Independent Director Olivier Aldrin Non-Executive Director Prof. S. Rajagopalan Independent Director Rajiv Kuchhal Independent Director Ralph Gillessen Non-Executive Director Ulrich Bäumer Independent Director CHIEF FINANCIAL OFFICER Desikan Narayanan COMPANY SECRETARY & S. Sampath Kumar COMPLIANCE OFFICER AUDITORS Kalyaniwalla & Mistry LLP Chartered Accountants Esplanade House, 29, Hazarimal Somani Marg, Fort, Mumbai – 400 001. INTERNAL AUDITORS A. Murali & Associates, Chartered Accountants New No.2, T4, 3rd Floor, Majestic Square, Sherfudeen Street, Choolaimedu, Chennai - 600 094 BANKERS The Lakshmi Vilas Bank Limited Cathedral Road, Chennai - 600 086 ICICI Bank Limited Bazullah Road, T. Nagar, Chennai - 600 017 The Hongkong and Shanghai Banking Corporation Limited Cathedral Road, Chennai - 600 086 LEGAL ADVISORS S. Ramasubramaniam & Associates New No.13/1, Bishop Wallers Avenue West Mylapore, Chennai - 600 004 REGISTRAR AND SHARE Cameo Corporate Services Limited TRANSFER AGENTS Subramanian Building No.1, Club House Road, Chennai - 600 002, Tel. +91 044 2846 0390 / 044-40020700, email: [email protected] website: http://www.cameoindia.com @ Chennai 2019 Solutions at Inspire Expleo Team REGISTERED OFFICE 6A, Sixth Floor, Prince Infocity II, No.283/3 & 283/4 Rajiv Gandhi Salai (OMR), Kandanchavadi, Chennai - 600 096 Tel: 044 4392 3200, email: [email protected], website: www.sqs-bfsi.com SQS India BFSI Limited contents Letter to the STANDALONE CONSOLIDATED 04 Shareholders FINANCIAL STATEMENTS FINANCIAL STATEMENTS Performance Independent Independent Highlights Auditor’s Auditor’s 06 74 Report 135 Report Directors’ Balance Balance 07 Report 84 Sheet 143 Sheet Annexure Statement Statement to Directors’ of Profi t of Profi t 20 Report 85 and Loss 144 and Loss Management Statement Statement Discussion of Change of Change 44 and Analysis 86 in Equity 145 in Equity Report on Statement Statement Corporate of Cash of Cash 50 Governance 87 Flow 147 Flow Certifi cations Notes Notes 69 88 148 Expleo Solutions Limited (formerly known as SQS India BFSI Limited) BOARD OF DIRECTORS Board of Directors 1 2 3 4 5 6 7 8 9 Annual Report 2018-19 | 2 Expleo Solutions Limited (formerly known as SQS India BFSI Limited) BOARD OF DIRECTORS 1. René Gawron 4. Lilian Jessie Paul the Karnataka State Council for Science Chairman and Director (Non-Executive) Independent Director and Technology for 14 years and also was Founder and Chairman of TIDE an René is a Chairman and Director of Expleo Lilian Jessie Paul is an Independent NGO. Since 2008, he is a professor at the Solutions Limited. Rene Gawron has Director of Expleo Solutions Limited. International Institute of Information held various positions including Head of Jessie Paul has 25 years of experience as Technology, Bengaluru. Business Development for mobile telecom a marketer. She was Global Brand Manager networks at Siemens AG. His most recent of Infosys, headed marketing for iGATE 7. Rajiv Kuchhal position was CFO at SQS. René Gawron (now a part of CapGemini) and was Chief Independent Director is a graduate of Freie University of Berlin Marketing Offi cer of Wipro Technologies. Rajiv is an Independent Director of Expleo (Germany). She commenced her career with Ogilvy Solutions Limited. Rajiv is seasoned & Mather Advertising. In 2010, Jessie Paul 2. Prof. K. Kumar professional with more than 30 years founded Paul Writer (www.paulwriter. experience in IT and related areas. He spent Deputy Chairman & Independent com), a marketing advisory fi rm that works many years at Infosys heading Telecom Director with clients to design targeted outreach and Product Engineering Services. He was Kumar is Deputy Chairman and campaigns that result in business impact. founding member of Infosys BPO and was Independent Director of Expleo Solutions Clients include Adobe, IBM, LinkedIn, COO at OnMobile. He is currently partner at Limited. He has over three decades of Manipal Global, and Oracle. She now drives Exfi nity Venture Partner. Rajiv is graduate experience as a corporate manager, the Paul Writer Impact Network, an agency from IIT Delhi. consultant, entrepreneur and in academia. network dedicated to managing and Kumar holds a bachelor’s degree in optimising the complete buyer journey. 8. Ralph Gillessen Electrical & Electronics Engineering Jessie is frequently cited as a marketing Director (Non-Executive) (Madurai Kamaraj University) and obtained expert in publications and is the author Ralph Gillessen is the Director (Non- both the PGDM and Fellowship (Doctoral of No Money Marketing, published by Tata Executive) of Expleo Solutions Limited. level) qualifications from the Indian McGraw-Hill. She publishes a newsletter Ralph Gillessen spent his fi rst professional Institute of Management, Bengaluru that reaches India’s top marketers and has years at Time Warner as an IT systems (IIM-B). In his current role as Professor crossed 400 issues. She holds an MBA from and business analyst before he moved of Entrepreneurship at Indian Institute Indian Institute of Management, Kolkata, into consultancy and held various senior of Management, Bengaluru (IIM-B), he and a bachelor’s degree in computer business development and consultancy is involved in teaching, research and science and engineering from National positions. Ralph joined SQS in 2002 and entrepreneurship promotion initiatives. His Institute of Technology, Trichy. entered the board by an internal promotion corporate experience includes a consulting 5. Olivier Aldrin in 2013, and became the COO in 2015 where role at Tata Consultancy Services (1991-95) Director (Non-Executive) he managed the global sales, delivery and and as CEO (1995-2001) and President operation organisation. Ralph is a graduate (2005-2006) of Trigent Software Ltd. Olivier Aldrin is the Director (Non-Executive) of the University of Hagen (Germany). of Expleo Solutions Limited. Olivier Aldrin 3. Balaji Viswanathan is the Chief Executive Offi cer of Expleo 9. Ulrich Bäumer Managing Director and CEO Group. After starting his career at Arthur Independent Director Balaji is the Managing Director and CEO Andersen, Olivier Aldrin has held the of Expleo Solutions Limited. Balaji is a positions of Chief Financial Offi cer and Ulrich is an Independent Director of Expleo Physics Graduate with an Intermediate Deputy Chief Executive Offi cer at various Solutions Limited. He is a qualifi ed lawyer in Cost Accounting, he comes with close digital services companies (Serete, Thales and a partner in the technology group of to 25 years of professional experience in IS, Ingenico, Econocom). His previous the international law fi rm, Osborne Clarke. the fi nancial services domain of which 16 roles include Deputy General Manager in He advises the clients of the fi rm mainly years have been in the Financial Services charge of Finance at Altran Technologies in the areas of information technology Industry and 8 years in the Outsourcing/ and CEO of Assystem Technologies. Olivier and outsourcing. He drafts and negotiates Offshoring of Financial Services. His last is a graduate of Neoma Business School complex international IT project (especially assignment was as Senior Director in (France). outsourcing and licensing) contracts and assists the technology clients of the fi rm charge of Global Delivery for BFSI services 6. Prof. S Rajagopalan at Concentrix which is the outsourced in M&A transactions. He also advises Independent Director business division of SYNNEX Corporation, in all other aspects of technology and a Fortune 500 company listed on the Rajagopalan is an Independent Director of licensing law. He advises many German NYSE. Balaji also worked with Serco, IBM Expleo