Dear shareholders, good afternoon, and a warm welcome to the 34th annual general meeting of Tata Elxsi Limited. As a reminder, for the smooth conduct of the meeting, the members will be in the mute mode, and audio and video will be enabled when they are called upon to speak at the AGM as per the pre-registration. Please note that as for the requirements, the proceedings of the annual general meeting will be recorded and available on the website of the company. I now hand over the proceedings to Ms. Cauveri Sriram, Company Secretary of Tata Elxsi Limited. Over to you, ma'am. Thanks, Devin. A very good afternoon, and let me extend a warm welcome to the 34th annual general meeting of Tata Elxsi Limited. This meeting is being held through video conference in adherence with directives and relevant circulars issued by the MCA and SEBI. The company has taken all necessary steps to ensure that shareholders are provided with an opportunity to participate in this AGM through video conferencing. The proceedings of this meeting are being webcast live on the NSDL platform. In accordance with the articles of association of the company, Mr. NG Subramaniam, Chairperson of the Board of Directors, will chair this meeting. The notice convening the 34th AGM, along with the annual report of the company, was sent to all shareholders whose email was available with the depositories company and the registrar. As the AGM is being held through VC, the appointment of proxies has been dispensed with. In terms of the provisions of the Companies Act and SEBI LODR, the company has facilitated the option of voting to all businesses, as mentioned in the notice, by way of remote e-voting, which was open from 30th June until 3rd July. The members who have not voted through remote e-voting can cast their vote during the AGM and 15 minutes thereafter by way of e-voting available on the NSDL platform. There will be no proposing or seconding of the resolutions. Please note that all the participants will be on mute mode only. Shareholders who have joined through the NSDL link can post their queries through the communicate option available on the screen, and these queries shall be responded to. Those shareholders who have pre-registered their names for the Q&A session will be called serially, and their audio and video will be unmuted. The speaker shareholders are requested to wait for at least 30 seconds for their audio and video to be enabled for a seamless communication. Each speaker shareholder is requested to restrict their query to a maximum of three minutes. I would also like to inform that the shareholders, that the representatives of our promoters, Tata Sons Private Limited, have joined the meeting through video conferencing. We also have representatives from KPMG, our statutory auditors, Mrs. Jayashree Parthasarathy, secretarial auditor, and Mr. Madan B, who has been appointed as a scrutinizer for the e-voting process, who have attended this meeting through video conferencing. I would now request Mr. N.G. Subramaniam, Chairman, to conduct the proceedings of the meeting. Thank you. Namaskar. Good afternoon to all of you. It's my absolute pleasure and privilege as your Chairman to welcome all of you to the company's 34th annual general meeting. On behalf of the board of directors and everyone at Tata Elxsi Limited, I thank you for your continued trust, encouragement, and support to the company and its management. In adherence to the government's directives, the 34th annual general meeting of Tata Elxsi Limited is being conducted through video conference. I have Mr. Manoj Raghavan, MD and CEO of your company, and Mrs. Cauveri Sriram, Company Secretary, along with me in Bangalore, where we are headquartered. The other directors of the board have joined the meeting remotely. Let me begin by introducing your board of directors. I now invite Mrs. Gopinath to introduce herself, please. Yes, good afternoon to all of you. This is Shyamala Gopinath. I'm joining from my daughter's residence in California. I chair the audit committee and the nomination and remuneration committee, and I'm also a member of the CSR committee. Thank you. It's a privilege to be with all of you. Thank you, ma'am. Mr. Sudhakar Rao? Good afternoon, everyone. I am Sudhakar Rao, joining this 34th annual general meeting of Tata Elxsi from my residence or my place of stay in Singapore. I am a member and the chairman of the CSR committee of the board and also the stakeholders committee, and I'm on the audit committee. Welcome to you once again for this AGM. Thank you. Thank you, Mr. Rao. Professor Anurag Kumar? Good afternoon. This is Professor Anurag Kumar, logging in from my home in Bangalore. I'm Independent Director of the company, Tata Elxsi, and I chair the Risk Management Committee, the Ethics Committee, and I'm also a member of the Shareholder Relationship Committee and the Audit Committee. I'm happy to be here. Welcome to everyone. Thank you, Professor Kumar. Mr. Ankur Verma? Good afternoon, everyone. My name is Ankur Verma. I'm the director of the company, and I'm also the member of an audit committee. I'm joining this meeting, from Mumbai, my office today. Thank you, and it's a privilege to be part of the staff. Thank you. Thank you, Ankur. Mr. Manoj Raghavan? Good afternoon. I'm Manoj Raghavan. I'm the MD and CEO of Tata Elxsi. I'm joining the meeting from our registered office at Bangalore. Welcome once again to all the shareholders. Thank you, fellow directors. As the requisite quorum is present, with your permission, I now call the meeting to order. In terms of the MCA notifications, as the shareholders are allowed to join the AGM personally through video conference, the necessity of appointing proxies is dispensed with. I would like to mention that those shareholders who have pre-registered with the company will be called upon one by one to post their questions, queries, and feedback during the question and answer session. Let me deliver my customary speech at this AGM. As your chairperson, I take great pleasure in once again welcoming you all to this thirty-fourth annual general meeting. On behalf of the board of directors and everyone at Tata Elxsi Limited, I would like to thank you for the trust and confidence that you have placed in us. I look forward to your continued support. I am pleased to chair this annual general meeting this afternoon. In the financial year 2023, we witnessed another year of strong and sustained top-line growth while maintaining industry-leading margins. I would like to thank my co-directors for their able guidance, CEO and MD, Manoj Raghavan, the senior leadership team, and the entire Tata Elxsi staff for an outstanding performance during the year under review. The integrated annual report for the year ended 31st March 2023, along with the directors' report and audited annual accounts of the company, have been shared with you. May I request that these be taken as read. I would now share with you the key aspects of your company's financial performance for the year 2022-23. I'll follow that by certain highlights on operations, human resources, our commitment to the community and environment, and a brief overview of the overall business environment and the outlook for the coming financial year. Firstly, let me reflect on the company's financial performance for the year passed by. The total income for your company for the financial year 2022-2023 increased by 28% from INR 2,515.3 crores to INR 3,218.5 crores. The operating revenue grew by 27.3% to INR 3,144.7 crores. The profit before tax increased by 25.8% from INR 745.5 crores to INR 937.5 crores. The profit after tax for the financial year was INR 755.2 crores, growing strongly by 37.4% from INR 549.7 crores. The top-line growth was a result of strong performance by the company in all the key geographies of the United States, Europe and Asia Pacific. The company's unique design-led engineering offerings helped your company deepen its engagements with the current customers and start new client engagements. Your company's deep domain expertise in the areas of software-defined vehicles, communication technologies, including 5G, and digital healthcare has helped in securing business arising from impact of connectivity, software and digital technologies in the chosen industry verticals. I now share some of the highlights related to key segments of your company's business. In the transportation segment, your company has built strong capabilities in the domains of connected, autonomous and electric vehicles. In the financial year, this segment witnessed a healthy growth of 32.7%. This is the strongest growth that the transportation segment of your company has witnessed in the last 3 years. Your company's strong capabilities in software development services and solutions for electric vehicles, powertrains, advanced driver assistance systems, autonomous vehicles, infotainment systems, and related areas, coupled with long-term engagements with leading OEMs and tier 1 suppliers, is making Tata Elxsi a leader in this particular segment. As the world is moving close to zero emission deadlines announced by the US and various other countries in Europe, there is significant push from the automotive OEMs to bring better zero-emission cars to the market. This is propelling adoption of associated e-mobility technologies, along with continued adoption and evolution of features such as advanced driver assistance systems, autonomous vehicles and connected infotainment. Your company expects this trend to continue in the coming years and is committed to keep pushing the envelope of innovation in connected, autonomous and electric vehicles. To build future-ready solutions in electric mobility, your company recently signed an MOU with the Indian Institute of Technology Guwahati to jointly work on developing and commercializing state-of-the-art solutions for the electric mobility market. In the media, broadcast, and communication segment, your company works with leading multi-system operators, broadcasting companies, and studios across the world to help them roll out multi-play services with optimized viewing experience. Your company also supports its customers in their digital transformation journey in the areas of ad tech and workflow management, and assists in their integration, process automation, and network transmission efforts. In the current challenging environment for the global media and communication industry, this segment witnessed a growth of 18.2% over the previous financial year. The growth in healthcare segment is being driven by digitalization of healthcare, where devices are becoming connected and more software driven. Digital patient engagement platforms are proliferating amongst healthcare services providers and are seeing higher adoption by patients. Your company has a strong portfolio of digital health platforms addressing the growing opportunities in omni-channel care, digital therapeutics, and patient assistance. In the financial year, your company's healthcare and medical devices business grew by 37.6% year-over-year. Complementing the technology and software development services, your company offers industrial design services to our customers worldwide. It's an integral part of the design digital capabilities, and includes services like consumer research and strategy, product design, service design, and user experience design. This division helps in creating strong traction through design-led ideas and deals. The industrial design business grew by 24.4% year-on-year during the financial year. Your company's system integration and support services provides professional services for cloud and infrastructure management, virtual reality, and augmented reality. It uniquely blends your company's capabilities in technology, design, and content of turnkey development of virtual reality labs, world-class experience centers, and training and safety centers. During the financial year, system integration business grew by 54.9% year-on-year. Let me now share with you the highlights of human resources and talent in your company. Your company considers its employees and their success as key success of the company. Company is committed to fostering a workplace culture that values diversity, inclusivity, and collaboration. Our people-centric policies and efforts contribute to the development of our employees and significant improvement in our operational effectiveness. Your company's newly adopted employee value proposition, "Home to billion possibilities," carries an idea of Tata Elxsi being a home to our people, where they are cared for, nurtured, and mentored, enabled to explore endless possibilities and pursue accelerated paths of career growth. In line with our core thought process, that success means growing together, your company has introduced the performance stock option plan, which will provide opportunity for the Elxsians to participate in long-term success of the organization. With access to some of the world's leading technology, management, and leadership training courses, coupled with our own digital repository and training content, our employees have the required resources for self-paced training and upskilling. We are also committed to ensuring employee diversity and inclusivity at the workplace. 36% of our workforce are female employees, making us amongst the leaders in the technology and engineering R&D provider space. To ensure the overall wellbeing of our employees and their families, we are providing access to our premium healthcare platform to benefit all our employees and their family members. This is apart from the other facilities, like access to a unified healthcare portal and 1-to-1 counseling services for employees who need them. I would now share some updates on innovation initiatives of your company. For your company, which operates on the forefront of digital technologies, innovation is key to its success and essential for its operations. Tata Elxsi has a dedicated patents team, which actively supports and innovators within your company with intellectual property rights management and various formalities related to the patent filings. Till date, your company has filed 111 patents and has been granted 36 patents. A testimony of your company's design-led engineering capabilities and its deep expertise in cutting-edge technologies, Tata Elxsi's futuristic connected TV solution won the prestigious Tata Innovista Award. Tata Elxsi also received the Innovative Company of the Year Award for the large enterprise services sector at the ninth Annual CII Industrial Innovation Awards, 2022. To further the spirit of design and innovation, your company also announced a global contest for creating a sustainable design solution on the World Industrial Design Day. The contest received over 180 design innovation submissions from across the world, including leading design schools from the United States, United Kingdom, and India. Let me now address our commitment to the environment. Your company is committed to creating a sustainable future through our targeted initiatives, collaboration, renewable energy, and responsible practices that benefit both the environment and the society. The efforts under this include driving net zero, reducing waste, recharging groundwater, recycling everything, and preserving nature and biodiversity. We have been replacing conventional lighting and equipment with energy efficient lighting and equipments. More than 38% of our energy, electricity requirement that we currently use are coming from renewable sources. Your company recycles 100% of its wastewater that it produces. We also recycle our e-waste with the help of specialized agencies. These initiatives are taking us closer to our aspiration to be 100% carbon neutral by 2030. In terms of contributing to our community, your company's CSR initiatives are run on three important themes that are important to all of us: education, healthcare, and environment. Shiksha is an umbrella program under which we run several initiatives which support the underprivileged in their education and skill development. This includes scholarships for engineering diploma students, scholarships for students from underprivileged areas, skill development programs for transgenders, and many more. Under Niramay, we strive to make healthcare available to the needy, often at their doorsteps. The activities under Niramay include setting up network of clinics in slums and mobile clinics in tribal villages, and many more initiatives which make healthcare accessible to the needy. Theme Paryavaran, which was initiated in this financial year, reinforces our commitment to the environment and brings in a more focused approach towards preservation of natural resources. Under this theme, we have commenced a set of long-term programs, which includes rejuvenation and restoration of lakes in the vicinity of Tata Elxsi's offices in Bangalore, creating an eco-campus in the CSIR facility in Trivandrum, and planting over 2,500 trees and shrubs in the campus, and a project at Kodagu to improve the livelihood of 350 tribal farmers by enhancing their coffee yield significantly over the next three years. Let me now discuss the overall business environment. Firstly, on technology. As digital technologies are becoming all-pervasive, we are experiencing technologies like artificial intelligence, augmented reality, digital twins, and 5G take center stage and push the boundaries of experiential innovation. Talking of the automotive industry, with the advent of electric vehicles, technologies like connected cars and autonomous driving are seeing accelerated adoption. To address these market shifts, automakers and suppliers are investing in platforms, products, and technologies to address future opportunities in connected, autonomous, and electric cars. Connected vehicles would also be increasingly generating immense amount of data, which would open up new monetization opportunities for various players in the e-mobility ecosystem. In the media and communication segment, too, technologies like 5G, artificial intelligence-based personalized content delivery and enhanced viewer engagement, augmented reality, virtual reality technologies, blockchain technologies for better copyright management, are seeing faster adoption. They present immense opportunities for companies like Tata Elxsi. Your company, with its competencies, strong talent base, and deep domain expertise, is well-positioned to address these opportunities. Moving to the macroeconomic view, the global macroeconomic outlook is likely to remain volatile in the coming quarters, with significant geopolitical risks and challenges around inflation and economic growth. Technology advancements and disruptions from artificial intelligence, machine learning are likely to be there at an accelerated pace. Your company is investing adequately in building the required capabilities in AI, ML, both predictive and generative, and be prepared to exploit such technologies in our products and services. Your company's diversified presence in key geographies, verticals, alliances, research and innovation, and last but not the least, an agile operating model, does provide the necessary mitigations. We are confident of keeping our growth momentum going by leveraging our deep domain expertise and our presence in key geographies across the world. I would like to congratulate our CEO, Mr. Manoj Raghavan, the entire management team, staff, and business associates for their excellent performance in the financial year two thousand twenty-two, twenty-three, and thank them for their commitment, passion, and contribution to Tata Elxsi. I would also like to record my appreciation for my fellow directors for their valuable guidance. On behalf of the Board of Directors and our management and staff at Tata Elxsi Limited, I thank all of you, our valued shareholders, for your continued trust, support to the company and its management. Thank you very much. We now move to the e-voting and question and answer sessions. I would like to now call the names of the shareholders who have pre-registered themselves with the company one by one, to pose their questions, queries, and feedback. In case of any technical issues with any particular shareholder, who is in the next shareholder in the queue will be called. The said shareholders can rejoin after the technical issue is restored. The moderator will unmute the audio and video once the shareholder's name is called out. They may kindly wait for 30 seconds for the video to activate. To ensure that we give opportunity to all participants, I would earnestly request each one of the shareholders to restrict your queries to maximum 3 minutes. Thank you. Dr. Arun kumar Boppana, please? Sir, we request you to kindly accept the prompt on your screen, unmute all your audio and video, and you may proceed with your question. Good afternoon, sir. Good afternoon, Dr. Boppana. Thank you for your speech, sir. You can smile and with a twinkle in your eyes. Thank you for the smile. The success of Tata Elxsi and the CS team does have many hands with one mind to lead. That is the success of Tata Elxsi, sir. Thanks to Mrs. Cauveri Sriram for arranging this VC. Compliment, sir. It's hard to express the sense of awe and satisfaction on the market cap after you took over as Chairman. I hope it keeps rising northwards, 'cause I'm not a great share market investor, but I'm proud of Tatas. Tata Elxsi is a global design and tech services company with wide range of expertise in various industries, harnessing power of AI, ML to improve the business processes. My question, sir, Tata Elxsi has lots of opportunities to assist companies in digital transformation, in IoT, AI, et cetera. What are the opportunities and your comments on that, sir? Cyber crimes. What are the investments in cybersecurity to ensure our data protection for 24/7, 365 days? IT has given, is mighty, definitely. It has given so much of tenacity, and it has given so much audacity to the cyber criminals who are on the rampage nowadays. Emerging technologies, uncharted territories, are we doing enough in R&D? What is R&D budget? How does Tata Elxsi use the digital vision to create a seamless user experience, ensuring usability and accessibility in terms of media and communication industry? The millennials and workforce, they want to have life beyond clock and work time, sir, because now they want a balanced lifestyle. What are Tata Elxsi's plans? What are Tata Elxsi plans to skill to match the skill mismatch currently with new-age courses like coding, AI, robotics, et cetera? What is the subsequent transition to work as a springboard with healthcare and life sciences, concept ideation, et cetera? Where do we stand? The strong presence in the automotive domain, service-related connected cars and autonomous driving, what innovation did Tata Elxsi offer to Tata Motors last year? Sir, you said we are aiming for net-zero emission. Is it right, sir? Chairman, sir? Yes. Yes, yes, sir. I want to add one thing, sir. Electric cars have become so silent, the buses and all, there is scope for a lot of accidents. The accidents can be violent. Too much silent may lead to accident violence, so we have to take care of it. Lastly, sir, in conclusion, the potential is vast. We are merely scratching the surface. The future must be crafted, Tata Elxsi has a great future. I wish you all the best, thank you, Chairman, sir, for giving me the opportunity. It's wonderful, always interacting with you. Thank you very much. Thank you, Dr. Boppana. Mr. Anand aroop Sagar Dutta, please. Sir, we request you to kindly accept the prompt on your screen. Unmute your audio and video, and you may proceed with your question. Hello? Yes, please, go on. We are able to hear you. I would like to express my thanks and gratitude to the Tata Elxsi management for giving me the opportunity to speak in this 34th AGM of Tata Elxsi, which also happens to be my very first AGM speech in my life as a common shareholder. I have been a Tata Elxsi shareholder since 2019. I would want to express my support to the Tata Elxsi management, the way they have conducted themselves so far in remaining committed towards highest pedigree of engineering design led services. Robust design is very essential in today's world, when we have the very recent Titan disaster to take cue form. The OceanGate Titan disaster happened in deep sea exploration due to its flawed designs. Now that Tata Elxsi has partnered with ISRO for Gaganyaan, all the more power to the management and all the more support to them for remaining laser focused. Our world is a world of billion possibilities. I would like to offer a few suggestions to the management in this regard. Please, if possible, partner with Titan Company to see if Tata Elxsi can design more innovative touchscreen smartwatches which can compete with Apple products. Please see if there is any possibility to design Oculus devices, the way Meta company is designing for virtual reality headsets. Tata Elxsi is way ahead of its Indian competitors, and we have the potential to become the Tesla of India in matters of driving innovation. Please see that the engineering of driverless electric cars in India be such that these cars don't catch fire easily, as Tesla cars are catching fires when coming in contact with electrolytic salt floodwaters in USA. Lastly, I have come in contact with many control reviews and comments asking for bonuses splits to the Tata Elxsi management. I urge the management not to shift their focus from the amazing work that they have been doing for the past few years and keep up that same laser focus attitude. We look forward that Tata Elxsi be the brand for futuristic novel engineering designs from our country. Thank you, everyone. Thank you, Mr. Dutta. Mr. Manoj Kumar Gupta, please. Sir, we request you to kindly accept the prompt on your screen, unmute your audio and video, and proceed with your question. Hello? Yes, Mr. Gupta. Good afternoon, respected Chairman, Board of Directors, fellow shareholders. My name is Manoj Kumar Gupta. I've joined this meeting from Calcutta. Sir, first of all, I thanks to you and your team for the excellent result of the company. I thanks to MD and his team for the good achievement of the company for the year 2022, 2023. I thanks to the Company Secretary and their team, for their excellent support to the small investors to join this meeting through VC. I thanks to the Company Secretary, she always ready to help the small investors. Whenever we call her, she always takes the call and she try to solve the issues. Sir, we always want to see your smiling face because we, as a small investor, whenever we see your face, smiling face, we think that we will get good return in future also. Chairman's smiling face send is a good indication to the small investors that company is in a good state and good condition. Sir, we expect that you will give a reward to the investors. That's a long due. Try to consider the reward to the investors. Sir, try to split the stock, because now, in 10: 1 or 5: 1, sir. Think about our this, request from last 5 years, we are requesting you to think about to split the shares, that your market liquidity will increase, market capitalization will increase, and the invest- More people will get-. More people will get a chance. Opportunity. to get opportunity to be a part of Tata Elxsi. Thanks for your a good dividend of INR 60 per share. I will not say that, because I know your Tata's culture, they disperse the dividend soon after the AGM. Sir, what's your future plan for the company for next 2 to 3 years with it? Sir, unclaimed dividend, before send that dividend to the central government, I request you, I request to the company secretary from this platform, send a notice to the shareholders with this year dividend warrant, that they can claim their dividend from the company or put their name on your website. Whenever luckily, they open your website, if they find their name in the unclaimed dividend portion, they can claim their dividend from the company. Thanks for your CSR. I will not say a single word on the CSR because it's like a suraj ko deepak dikhana, sir. We know Tata's culture about the CSR. You have done a lot of wonderful, novel job in that second phase of Corona. You have saved, Tata Group has saved more than 3.5 million lives to provide the oxygen, through rail and transportation to provide the oxygen. I will not say anything. Sir, try to take action to develop the skill develop system in the country, in the talent system, because we have the talent, foreign has the money. They use our talent on their cost. You think about to inspire the talent, young talents in the country, sir. Sir, what's your view about the ISRO Gaganyaan? I wish the company that their ambition should success, and our beloved Prime Minister ambition should success that Tata Elxsi will be part of ISRO this time, to help the ISRO to get achieve of Gaganyaan. Last but not least, I thanks to you and your team for excellent result of the company, and best of luck for the next year. We believe that next year our price will be in 5-digit, and we will get a split. Thank you, sir. Thank you, Mr. Gupta. Mrs. Bharati Saraf, please. Ma'am, we request you to kindly accept the prompt on your screen. Unmute your audio and video, and proceed with your question. Mr. Saraf? Yes, yes, hear me. सर मैं यह जानना चाहूंगा कि आपने स्पेस इंडस्ट्री के अंदर में या फिर जो हाइड्रोजन जो अभी इलेक्ट्रिक मोटर इंडस्ट्री में चल रही बात चल रही है। हाइड्रोजन जो मतलब ये चलाने के लिए इसके एरिया में कोई काम कंपनी कर रही है क्या? टेक्नोलॉजी के अंदर जिससे कि हमें उससे थोड़ा-सा बताने का कोशिश करिएगा sir. पिछले साल आपने कोई नया ऐसा कोई प्रोडक्ट बनाया, जिसकी डिमांड बहुत बाजार में आई हो और बाजार के हिसाब से, बजट सिचुएशन के हिसाब से, जो बजट कंडीशन के हिसाब से नया प्रोडक्ट को लॉन्च किया तो उसके बारे में जरूर बताइएगा. मैं ज्यादा समय नहीं लूंगा कि कंपनी sir परफॉर्म कर रही है और एक बार फिर आप और आपकी टीम को धन्यवाद देना चाहूंगा. काफी अच्छे अवार्ड और रिवार्ड मिलने के लिए sir, उनकी मेहनत का फल है कि आज हमें अवार्ड और रिवार्ड मिल रहे हैं sir. भाई, बिना मेहनत से कोई नहीं देता sir. मैं उनको एक बार धन्यवाद दूंगा और आशा करता हूं, उनसे प्रार्थना भी करता हूं, इसी तरह भविष्य में काम करते रहिए और हमारी कंपनी को रिवार्ड और अवार्ड दोनों मिलेंगे. मैं स्टॉक बोनस और स्प्रेड के फेवर में नहीं हूं, क्योंकि हमारी, अब देखिए, एमआरओ INR 1 lakh का है तो कोई भी shareholder shareholder बन सकता है, लाखपति. एक शेयर में तो INR 1 lakh का sir, मैं उसी चाहूंगा, आप ना तो split करें, ना बोनस दिए. हमारा शेयर इसी तरह आगे बढ़ता जाए, growth करता जाए. Future में हम एक शेयर वाले भी कह सकें कि हम लाखपति shareholder हैं. ज्यादा कुछ नहीं sir, बीसी मीटिंग काफी अच्छी है. Future में sir, देखिए, मैं करता जाऊंगा. जैसे आपकी Director कोई सिंगापुर से, कोई foreign से कहां-कहां से अटेंड कर रहे हैं sir. बीसी के कारण possible है sir. मैं चाहूंगा Future में अगर आप physical मीटिंग भी करनी पड़ती है, आपको मजबूरी के वजह से, तो उसके हिसाब से 15-20 मिनट आधे घंटे का सेशन video conference का रखिए, जिससे Director भी बाहर से join कर सकें. हम भी Director बाहर से join कर सकें sir, क्योंकि Bangalore आकर मीटिंग करना और university के साथ मीटिंग करना possible नहीं होता है sir. मैं आपके Secretary और उनकी टीम को भी धन्यवाद देता हूं sir. मैं देखा कि आप अच्छे हैं, आपको Secretary भी काफी अच्छा मिला हुआ है sir. लेडी इतनी अच्छी Secretary है ना sir, मैंने बहुत companies में Secretary देखे, लेकिन मैं उनके ज्यादा तो नहीं कहूंगा, दूसरी बुराई नहीं कहूंगा. अपने आप में एक मिसाल हैं. मैं उनको भी धन्यवाद देता हूं. साथ में नए जो आए Manoj Ji, उनको भी धन्यवाद देता हूं. उनके कार्य मेहनत के फल है कि आज हम सुस्त भाव में मैं अच्छी तरह join कर सकता हूं. Last में sir, आप जितने भी Director हैं, जितने भी हमारे अधिकारी हैं और जितने भी shareholder भाई-बहन आते हो, video conference मीटिंग में उपस्थित हैं, उनके परिवार को 2023 की शुभकामनाएं देता हूं और भगवान से प्रार्थना करता हूं, भगवान 2023-2024 जो financial year है, सभी के लिए healthy, wealthy, prosperity और safety के साथ व्यतीत हो. जय जय भारत! नमस्कार सर। आशा करता हूं अगले साल फिर BC मीटिंग में आप बुलाकर दूंगा। नमस्कार। Thank you, Mr. Saraf. Um, Mrs. Lekha Satish Shah, please. Ma'am, we request you to kindly accept the prompt on your screen. Unmute your audio and video, and proceed with your question. Ma'am, we request you to kindly accept the prompt on your screen. Unmute your audio and video, and proceed with your question. Hello, can you hear me, Sir?? Yes, Ma’am, we are able to hear you. Thank you, Sir. Respected Chairman Sir, Board of Directors, and my fellow members, good afternoon to all of you. Myself, Lekha Shah from Mumbai. First of all, I am very thankful to our Company Secretary, Ms. Cauveri, for sending me the AGM notice well in time, which is full of knowledge, facts, and clarification points. Also, our Company Secretary, Ms. Cauveri, has always answered all my calls and happily cleared all my doubts. Once again, thank you so much, Ms. Cauveri. Thank you, Chairman Sir, for explaining to us as well about the company. Congratulations for the excellent work, Sir. Sir, I pray to god that He always showers His blessings upon you. Thanks for the wonderful dividend, Sir. I am proud to be a shareholder of this company. As you said, I congratulate our management and his team for receiving the ninth Annual CII Award Initiative Company of the Year. Also, I am happy that the company is doing very well in the field of CSR activities. Our company has a postal ballot dated 25th January for implementation of the Tata Elxsi Performance Stock Option Plan 2023. How many employees have been benefited, and how many PSOPs have been granted to employees? How Many R&D centers are there in India and in the global market? Chairman Sir, I hope the company will continue video conference meetings in the future. So, I strongly support all the resolutions for today's meeting, and my best wishes to our company and its prosperity. Thank you, Sir. Thank you, Ma'am. Mr. Shailesh Mahadevia, please. Sir, we request you to kindly accept the prompt on your screen, unmute your audio and video, and proceed with the question. Dear shareholders, we will wait for a moment for the connection from Mr. Shailesh. There seems to be a connection issue from Mr. Shailesh. Can you please proceed? We'll come back to him later. No, no. Now I am getting the whole thing. Yes, Mr. Mahadevia, we are able to hear you. Please go ahead. Yeah. Sir, please go ahead. Sir, just, you have to accept the prompt to unmute your audio and video, sir. Yeah, I am doing that. Yes. I have unmuted as far as my audio is concerned. I would like to unmute my video, but where is the icon for video opening? Sir, you may have received a prompt on your screen to start your video. Now it has come. Start my video. Yes. I believe now you can see me as well as hear me. Yes, sir. We are able to see you and able to hear you. Respected Chairman, distinguished Directors, members of the Management Team, and all the members present for this meeting. Sir, firstly, let me congratulate you for achieving excellent result during the year under consideration. It is not only excellent, it is exceptional. The way in which you have projected, it appears that this trend will continue for quite some time to come. Sir, our working has been well presented in our integrated report, which is full of knowledge and information. Sir, before I proceed further, I would also like to appreciate the cooperation and services of Ms. Cauveri and her team, which has enabled me to join this meeting with ease. Sir, let me make a request, one more. Please continue to do VC meetings only, so that a person like me, at the age of 84 plus, can participate in such meetings. Well, anyway, sir, I would now like to put some questions with a view to increase my understanding and appreciation of the working of the company and the work done by directors. Sir, my first question is regarding the patents. The question is that, what is the validity of these patents? Whether it will be from the filing date or it will be from the day on which it is granted. Sir, number 2, related to the same thing, what is the filing of and granting period? Because there is a long pending. We have registered so many patents, we have been granted a very small number. Can you, sir, tell us from which day we can start getting benefit of patents, whether it will be from the date of registration or from the date on which it is granted? Sir, my next question is that we are now only not national, but international operations. You have very well projected our expansion program, particularly in Germany and in many other parts of India also. Sir, therefore, what I would like to know is that, who are our competitors nationally and internationally, and what is our market share? Sir, my third question is regarding the CSR work, which is being done by the company. We have spent about INR 10 crore. Sir, here I find that our main expense are in the field of education and healthcare. Sir, my extreme suggestion is that these institutions through which we are giving this service to the society, they should give emphasis to millets, which is... This is the year of millets, and the education as well as healthcare, including millets, will have four advantages: it will give food security, it will protect environment, it will give employment, and it will also improve the health from wherever they may be. Sir, my next question is regarding the economic value added of our company. Sir, we are doing such wonderful job. A mere addition of one figure can give us an idea, what is the addition in the wealth of the company during the year? You may also give the rate of interest at which EVA has been calculated. Sir, TCS have INR 34,000 crores of EVA calculated, taking into account 12% rate of interest. Sir, my next question is regarding the acquisition of Tata Sons, also the promoters of our company of Tejas. Sir, may I know that this investment of INR 15,000, the company on which you are a chairman, how Tata Elxsi and Tejas will have interaction with each other? Sir, may I also request you to send me a copy of Tejas, as I have not received it so far, because I came to know about it only on the day of the AGM. Sir, that is my request. Sir, my further question, the last one, is regarding the world GDP, which is likely to remain under 3% in the next year also. The Western world is suffering considerably. Sir, what I would like to know, of course, we have enough orders, we have enough business. We have expanded in all the three verticals in which we are working. Sir, is it likely that this may slow down, or we are not getting the orders at a speed at which we would have got if the international situation would have been better? Sir, well, sir, I think it includes all my questions for you, and I will be very happy if you send your reply to this in the question and answer session. I will do, sir. I will do so, sir. Thank you. Thank you so much. With pranams, I wish you all the best. Thank you, sir. Mr. Vasudev Ramaswamy? Sir, we request you to kindly accept the prompt on your screen, unmute your audio and video, and proceed with your question. Namaskar, NGS, sir. Namaskar, sir. How are you? How are you, sir? Great. Good to see you again, sir. Mr. Manoj Raghavan, good afternoon, the board of directors and the management team. I congratulate the Elxsians, led by Mr. Manoj Raghavan, on the INR 30 billion revenue, sir. It was achieved in a very increased pace, I should tell. In all, the Elxsians deserves a kudos for community engagement and continuing to the common good and create positive changes. Congratulations to the secretary team and the design team for the nicely prepared integrated annual report. It contains lot of good contents. Sir, I have got a couple of questions to you, sir. What is our share in the increased AI market? I was going through an article by Mr. Aswath Damodaran, which was centered around the NVIDIA valuation. It was talking about, you know, that AI chip market will increase exponentially in the days to come, though NVIDIA will lose only 10% of their market share, which itself runs into many billions. We at Tata Elxsi are one of the very few companies having a very rich intellectual capital in design embedded software capabilities. With the likely explosion in the AI embedded chip industry, embedded software skills with right set of patents is going to be much in demand. In this background, sir, as to how we are planning to harness this heightened opportunity surrounding this game-changing generative AI space and encash the same in our chosen verticals. Sir, do we have plans to go in for any inorganic acquisition in this space so that it cater to our need? Sir, my next question is about the reinvestment opportunities. Sir, we are generating good amount of operating cash flows during the period under review and in the past several years as well. We have given good dividends also. Thanks to the management for that, sir. Our cash reserves have increased very, you know, substantially. Kindly share your views on as to what are the reinvestment opportunities we are looking to maintain the accelerated growth path, so that we achieve the $1 billion company in the targeted time. That's all from my side, sir. Thanks for the opportunity, and we wish you all the best to do well, sir. Thank you very much. Thank you. Ramaswamy. Mr. Naveen Bothra, please. Sir, we request you to kindly accept the prompt on your screen, unmute your audio and video, and you may proceed with your question. Naveen Bothra, pleasure attending the 34th AGM from Delhi. Sir, coincidentally, this is my 9th continuous Tata Elxsi AGM since 2015, and it's 9th for you as well, staying with Tata Elxsi. It's a double pleasure attending the 34th AGM, and again, connecting with you and the management team. Good afternoon, respected Chairman NGS, sir, our MD and CEO, Mr. Manoj Raghavan, the other distinguished board members, the management team, Mr. Nitin Pai, Mr. Gaurav, and our secretarial company secretary, Cauveri. Congratulations back to the team under your able guidance as chairman and the leadership of Mr. Manoj Raghavan, for crossing the revenue milestone of INR 30 billion during this year, and once again achieving highest ever industry leading operating growth metrics. Sir, you took well over 27 years to achieve our first INR 10 billion revenues in the year 2016, the second one, or second INR 10 billion took 6 years, from there on, it took just a little bit more than 1 year to achieve the third INR 10 billion revenues. It's quite remarkable, sir. Yeh Dil Maange More. Our company has won the prestigious award during the last financial year. We have won many prestigious awards, including Tata InnoVista, CII Innovative Company of the Year Award, and Golden Peacock Award. Big round of applause for all the Elxians. Congratulations to all. The integrated annual report of the company details the seven capitals of the company, the information provided is in a very precise manner. The hard work of finance and secretarial team, as well as the design team in preparing this annual report is highly commendable. It's very informative, and I can say that one of the best annual reports in our company's annual report presentation. As regard accolades for wealth creation, a long way to go. The growth journey of our company after your assuming the chairmanship nine years ago, has been tremendous. Credit also goes to the foundations led by management team. Further, the revenues of our company on TTM basis in the last three and a half years, three and a half years, has doubled to more than INR 3,200 crore from INR 1,600 crore. PAT has accelerated even more from more than tripled from INR 236 crore to INR 755 crore this year. This has eventually resulted in huge wealth creation for all the shareholders. As a result, our market cap in the last three and a half years has gone up by 11 times from INR 4,000 crore to INR 46,000-47,000 crore as of now. Kudos to the proud Elxsi led by Mr. Manoj Raghavan. Sir, I have some points for your kind view. Number one is Design Digital Innovating for the Future. Our theme of this year's integrated annual report is Design Digital Innovating for the Future. The front page depiction of a play button on the chip, which is also appearing in this background, in the front of our this AGM also. The depiction of play button on the chip raises my curiosity. Sir, does this indicate that we are planning for something bigger in semiconductor space, chip designing? To better understand about our strategy on this space, your views will be helpful, Chairman, sir. Number two is $1 billion and way forward in this coming decade. As mentioned earlier, we took just one year, more than, little bit more than one year, to achieve the third INR 10 billion turnover. We are confident that this accelerated growth journey, as you have already talked about in your chairman speech, and the investments we are making to maintain the momentum of this growth and write our future growth journey. We will be most likely achieving our $1 billion revenue company by 2026, 2027, in the spirit of home for billion possibilities. In our shareholders letter, you have also alluded about bringing design digital with innovation to the forefront to write our future growth journey. In view of the humongous opportunities presented by the digital revolution, we seek your wisdom on this, on our journey beyond $1 billion revenue, and the way ahead in the coming decade. Number 3, sir: share-based incentives. Sir, I highly appreciate and thanks to the board for considering my suggestion in the earlier interactions and granting share-based incentives to Elxsians. Congratulations to all Tata Elxsi, Elxsians. To conclude, a small suggestion from my side, sir, the scale and speed of change in technology these days has increased manifold. R&D expenses in absolute terms has increased from INR 39 crore to INR 53 crore in the last 2 years, as a percentage of revenue, it has decreased from 2.2% to 1.7%. Sir, I would suggest to suitably further increase the R&D innovation budget as a percentage of revenue in the coming 2-3 years, that we remain ahead of the curve in this hugely disruptive and technologically advancement time, and invest in the future technologies like generative AI, metaverse, and quantum computing, et cetera. My readings and talks with various people suggest that to gain geopolitical advantage after generative AI, the quantum computing, all the developments will fasten further. It will help us. The R&D expenses will help us in future opportunities also. All the very best to Elxsi in times ahead. I already voted in favor of all the resolutions. I propose a vote of thanks to the board, and a special thanks to our company secretary, Kaveri Ji, and the secretarial team, and the event team, AGM, Velja, who are handling, quite coordinating for the smooth onboarding in this AGM. Thank you very much, sir. Thank you. Thank you, Mr. Bothra. Mr. Ravi Kumar Naredi? Sir, we request you to kindly accept the prompt on your screen. Unmute your audio and video, and you may proceed with your question. Hello? Yes, sir. Yes, sir. Okay. Respected Chairman, Mr. NG Subramaniam Ji, MD, Mr. Manoj Raghavan, and honorable board of directors and fellow shareholders. Sir, I am luckily shareholder of Tata Elxsi since 11 year, and I made a very good wealth in the company. Thank you very much for your support and everything. Sir, we are having INR 1,200 crore cash available with us and INR 200 crore every year we are generating. What is the plan to deploy this fund for better utilization and better return to shareholder and the better return of ROC? Secondly, as we cross 3 months of current year, what mind you make up for growth, new hiring in current year and financial year 25? These are my only 2 question, thank you very much for all you are doing. Thank you, Mr. Naredi. Mr. Aspi Basania? Sir, we request you to kindly accept the prompt on your screen. Unmute your audio and video, you may proceed with your question. Can you see me and hear me? We're able to hear you, sir. Yeah, we are able to see you also now. Thank you. Sir, I'm Aspi from Bombay. Yes, sir. Thanks for giving me an opportunity to talk, and I hope next year also, when the physical meeting starts, you continue with the hybrid meetings. At the outset, I congratulate the management on excellent results. Sir, we have crossed INR 3,000 crore revenue during the current year. When do you expect to cross INR 5,000 crore? I hope in the year-ending March 2025, we should be able to cross INR 5,000 crore. Sir, our trade receivables have increased from INR 553 to INR 856 crore. Is it that companies are not paying us on time? Sir, around one third of our income comes from auto, media, broadcast, and communication and healthcare. How do you see this ratio going forward, say, after two, three years? Sir, why dividend of 606%? Why not 600%? Sir, how much percentage of our income comes from Tata Motors and its subsidiaries, like JLR? Sir, if, say, Toyota or Suzuki wants some job to be done, will our company bid, TCS will bid, or Tata Technologies will bid? Will you be submitting competitive or complimentary bids? Sir, resolution 4 for related party transactions with JLR for INR 600 crore. Why JLR comes to us? Is Tata Technologies not capable of doing the job? Sir, promoter holding is only 43.92%. Why so low? In spite of such a low holding, Tata Investment Corporation has sold 1 lakh shares. Had I known about this, I would have told them in the AGM of Tata Investment Corporation. Sir, we have so much cash on the balance sheet, many other shareholders have also said that. What are our plans for using the same? I would recommend that, like Colgate, you pay off INR 9 per share as capital reduction and make the share capital 10% of existing capital. Thereafter, you can give 1 for 1 bonus. Our share price is undervalued, I hope you follow Colgate. Sir, make our Tata Elxsi site more user-friendly. I tried to check if any unclaimed dividend is there of mine, when I put my client ID, the remark came: "Please enter valid client ID." Please make it more user-friendly. Thank you very much, and all the best for the future. Thank you, Mr. Aspi Basania. Let me move on to Mrs. Prakashini Shenoy, please. Mrs. Shanoy? Ma'am, we request you to kindly accept the prompt on your screen. Unmute your audio, and you may proceed with your question. Hello, can you hear me, sir? Yes, ma'am. Please go ahead. Yes, sir. I'm Prakashini Ganeshan Shanoy from Bombay. Respected honorable Chairman, Shri Subrahmanyam Ji, other dignitaries on the board, and my fellow shareholders, good afternoon to all of you. I'm first of all thankful to Kaveri for a wonderful Tata Elxsi report, which has been brought up in this year. I received the annual report well in time, which is transparent, informative, knowledgeable, and contains all the informations as per the corporate governance. I thank the Company Secretary once again, Ms. Kaveri, for her work and for the same. The Chairman has given a beautiful picture regarding the company in all parameters. Thank you, Chairman, sir. I'm glad that the company is showing robust performance during the year in all parameters when compared to the last year. Once again, congratulations, Chairman, sir. I'm thankful to the board for recommending dividend for the financial year 2022, 2023. At the outset, I congratulate one and all staff for getting various awards during the year. This shows the sincerity and hard work of one and all. I congratulate the management for doing outstanding work in the field of CSR activities. Sir, I have few questions. My question number one... Can you hear me, sir? Yes, ma'am. Hello. Please go ahead. Yeah. Question number one, on the sustainability front, how does the company plan to invest? Question number two. Ma'am, we are not able to hear you. While you check your connection, Chairman, sir, we request you to move to the next speaker shareholder. Mrs. Celestine Mascarenhas, please. Ma'am, we request you to kindly accept the prompt on your screen, unmute your audio and video, and you may proceed with your question. Ms. Mascarenhas, are you there? Yes, yes, I am very much there. Thank you. I think you can see me also. Yes, yes, ma'am. Yes, I feel so delighted to see you and even your brother, Chandrasekhar, you know, doing so well for our company. Anyway, I go to the formal part. Respected Chairman, Mr. N. Ganapathi Subramaniam, members of the board, my fellow shareholders attending this e-meeting, and I am Mrs. C. Mascarenhas. I am speaking from Mumbai. First of all, I thank the Company Secretary, Madam Kaveri Sriram, and her team, who sent me an e-annual report and also registered me as a speaker at my request, and also saw that I'm comfortable with my device and with this platform. Thank you so much, madam. Any query also I ask her, she attends all these years. I go to the annual report. Very good, self-explanatory, adhering to all the norms of corporate governance. Good working, dividend of INR 60.60 per share is very good in spite of difficult days. I hope we can get that much next year. Don't know, we may perform still better, that only leave it to God. I would definitely say I would like to have a split of the shares like the other Tata Group, because all our INR 10 came to INR 1, and it becomes like a nice mini bonus to us and also those who want to, small people, like they just started working, they can afford. Like, now INR 7,800 and all, it is not that easy, you know? It will be affordable. Instead of you give, once like Colgate, they gave INR 9 out, and then it remained, and there's no any other. My share lot will become more. I mean, that's leaving, I leave it to the board to decide. I would this congrats for all the awards and applause which are there. I don't want to elaborate it. Your CSR work is very good. Tata's applaud. I come to the ESG. My question. Have you applied for the rating of the ESG? If it is so, who is the rating agency, and what is our ratings for? Any plan to list on some ESG platform? My second question is, we are in 3 verticals: automotive, media, broadcast communications, and healthcare. I would like to know which is our strong vertical, which gives us good revenue and which will be the future. Can I just understand now Tejas Networks, is it like helping us in our vertical of communication, broadcast and all? Could you just throw some light? Third is, we have filed 111 patents. Our Mahadevia also touched this point, and 36 only were granted. I would like to know, what is the position now, my question is, and how many we have got and how many further we have applied? Next question is, workforce is 11,000, and out of that, 4,000 is women. That's a great plus point I find, you know. I would like to know whether all are working from home or 2, 3 days in the office. What is the attrition level? If how do we try to retain specially talented designing, innovation or AI staff? How do we retain such staff, you know, because they are highly innovative, you know? We have a new office in Frankfurt, collaborated closely with the OEMs Tier One suppliers. How much we are enjoying as margin there, or is it profitable, or still we have teething problems? Sir, last but not the least, future roadmap for the next five years, CapEx for the next five years, especially for AI or machine learning, or any acquisition by organic growth, especially from the front of AI, blockchains, and other ultra-modern, what is happening, which we find it quite difficult to understand also. I support all the resolutions. I wish my company all the best, and thank you once again for giving me this opportunity to speak. See you until the next AGM. Thank you very much. Thank you, ma'am. Yeah. Now, Mr. Mascarenhas will speak. He is registered. Yes. Uh. Yes, Mr. Mascarenhas, please go ahead. Respected Chairman, sir, very distinguished members of the board and my fellow shareholders, good evening to you all. My name is Aloysius Mascarenhas. At the outset, I thank the management, company secretary, and his team for sending me the balance sheet, which I received on time. It is voluminous, informative, transparent, and adhering to all the parameters required for a good corporate governance. Our results is excellent, as shown in facts and figures. The PBT and PAT has gone up, and so also our dividend from 425% to present 606%. Very good, sir. Keep it up. We expect such bonuses year after year. Very good, CSR initiative by the company. My questions are as follows: First and foremost, who are our peers and competitors, and what is our market share, both in the domestic market and the international? I believe strongly that we are an export-oriented company. Why I'm asking this question is, with the rising dollar and the falling rupee, how much revenue are we generating? If so, please let us know which countries do we have maximum export. Are we giving our know-how to any of the defense companies? If so, let us know. I join hands with my predecessor shareholders, especially my wife. I'm over 30 years in this company, our shares have gone up phenomenally. A split is a very good instead of bonus. We don't ask bonus. This sale itself will be a mini bonus. With this, sir, I thank you for giving me a patient hearing. I thank you personally, all the board members, and more importantly, all the employees, all the very best in the days and years to come. With this, sir, thank you very much. Once again, thank you. God bless you and our company. Thanks. Thank you, sir. Thank you for joining, both of you. Mr. Om Prakash Kejriwal? Sir, we request you to kindly accept the prompt on your screen. Unmute your audio and video, you may proceed with your question. Hello? Yes, sir. Am I audible? Yes, sir. You're audible. Please, go ahead. my video is not working. 1 minute, sir. Okay. Yes, sir. Thank you. Good afternoon, Sirji, good afternoon, everybody attending this AGM. Myself, Om Prakash Kejriwal, your equity shareholder from Kolkata. Thank you, Sirji, for providing me the platform to speak something before you. Thanks to our secretarial department for helping me in registration as a speaker shareholder. Especially, thanks to our CA, Cauveri madam, for calling me and taking my know-how. Sirji, this is my second AGM, only due to virtual, though I am your very old shareholder. It is just an opportunity for me to join this virtual AGM sitting in Kolkata. We are here from California and abroad, directors are joining due to virtual AGM. If possible, please follow this virtual AGM in next year also. Sirji, wow, what a result, Sirji! Mind-blowing performance. इसके लिए आपको बहुत-बहुत बधाई। सभी Directors को बहुत-बहुत बधाई, सभी employees को बहुत-बहुत बधाई, इतना अच्छा रिजल्ट देने के लिए। On equity of INR 62 crore, our total income is INR 3,218 crore, our net profit is INR 755 crore. It means our EPS is INR 121 on face value of INR 10, dividend is INR 60.60, means 50% distribution of net profit. Good distribution. Sirji, यह दिल मांगे मोर। Your sister company, TCS, in which you are also a Director, has distributed almost 100% of net profit. Sirji, our company was founded in 1989, our company issued bonus share only once in whole journey of 34 years. Please consider to issue bonus share. Our book value also support the same. A split of shares. Many our shareholders are also requested, every company in Tata Group is of face value of INR 1, except Tata Elxsi. Please split our shares in 10:1 ratio. Our sister company, TCS, is also of a face value of INR 1. Please consider a split of shares. Sirji, you hired a record number of employees, as you said in your message. What is this number? What is this number in India and in abroad? What is our employee attrition rate at current times? How many new clients we added in current year? From a special business item number 4, page number 58, it seems that JLR is our one of the biggest client, which is expected to give revenue of INR 600 in current year. Sir, how many more clients we have of such volume, and what will be our total revenue expected in current year? Sir, we, from page 10, we are using design thinking and digital technology such as IoT, cloud, mobility, virtual reality, and artificial intelligence, AI. How much revenue will be generated by using AI in current year? How much this AI will affect in employee employment generations? Sir, is it dangerous for human beings as well as nature? Some time back, I was reading a news article in which the inventor of this AI was regretting for his invention, and later on, he left his job. Every invention should be used for betterment of human beings, as I think. Please share your views. At last, sir, please maintain your smile and be cheerful. We are always with you as a long-term investor. Thank you. Thank you, sir. Thank you, sir. Mr. Yusuf Rangwala? Sir, we request you to kindly unmute your audio. Sir, apka awaaz aa raha hai? Yes, sir, we are able to hear you. Good afternoon, dear respected Chairman. I will first say vanakkam, sir. We are from the South. I am also from the South, sir. That is why I will say vanakkam, sir. Now I will start my speech. Sir, you've given the INR 60.60 dividend. That is a very fantastic. That is a very good, sir. On the aaj apka on INR 10 share, aaj apna market rate around sada sattar hajar rupiya, 7,500. As you mentioned, we are having 11,000 employees, as you mentioned in the annual report. Usme se 4,000 staff hai, sir. Usme se 4,000 lady staff hai. Sir, this was how our company started in 1989, and now it is 2023. With this means this year, 34-year-old company, sir. I'm joining all the previous speaker, never the lifetime, issue a one-time bonus, sir. I request, a humble request for the bonus issue, sir, and also split the stock. I'm so thankful to our Kauri madam and his team, and also remembering why they are joining on that. This shows how our company is growing, and also TCS, Tata Teleservices, that testing by link, sir. This shows how they're caring for the shareholder, sir. We are very lucky. Sir, you are gone on mute, sir. We can't hear you. You, Yusuf, sir? Yeah. Mute, sir. Yes, sir, you can proceed. I wish you a very happy Diwali, happy Dashera, sir. May you all accept, svikar kariye, and our brother and Shanda, unke saath mein sab hota hai. Sir, aapse bhi hamari mulakat hui. Sir, ye hum mein jaan ke bahut khushi, aapke liye ek share pass karna chahata hun. Phoolon ki khusbu mehkti rahe, har aane wale sab tyoharon ki main su-shubhkamnaen dene, aur apko sir main haath jodke vinanti karta hun. Jai Hind, sir. Jai sir. Jai Hind! Jai Hind, sir. Vanakam, sir. Thank you. Jai Hind. Mr. Gaurav Leeladhar Rojatkar? Sir, we request you to kindly unmute your audio and video, and you may proceed with your question. Mr. Gaurav? Hi. Am I audible? Yes, sir. We are able to hear you. Please go ahead. Namaskar to one and all present here. I'm joining this annual general meet today from Berlin, Germany. I wish chairman, MD and CEO, board members, all my fellow shareholders, good health. Coming to my questions, my question for today's annual general meet are that, what is the company's strategy for growth and expansion for upcoming years? Second will be that the company's sustainability initiative towards the environmental and social responsibility shall not be tossed with the respect of the safety. As per my point of view, research and development shall be given the topmost priority. Can company share any thoughts about the same for future? Last but not least, even if the annual general meet starts getting physically in future, I request to keep it hybrid so that people from all around the world can join from their comfort zone as well. Lastly, I wish all the very best to Company and all the board members, all the people. Thank you so much. Thank you, Mr. Gaurav. We now have speaker number 11, Mrs. Prakashni G. Shenoy. Chairman Sir, with your permission, can we allow them to ask their question? Yes, please. Yes, ma'am, you may unmute your audio and proceed with your question. Yes, sir. Sir, can you hear me? Yes, ma'am, we are able to hear you. Yeah. I think. Thank you. Shall I continue, or shall I start from the beginning, sir? Please continue. I think you asked the first question on sustainability and how are we investing. Yes. You can ask your second question. Yes, sir. My second question is, first of all, I want to thank the Chairman for giving me the second chance for speaking. Thank you, Chairman, sir, once again. My second question is: How do we adopt digital technologies to increase productivity? My third question is: How are we planning to increase the revenue in future? My fourth question is: What% of total strength is women workforce, and how does the company invest in learning and development? My last question is: When was the last bonus paid? Last but not the least, as my many earlier predecessors have requested for VC, I once again request the Chairman, please continue with VC meeting in future so that the people all around shall get an opportunity to give their views and thoughts. I wish the company good luck for a bright future, and pray God that the profit of the company shall reach the peak in due course. Sir, I strongly and wholeheartedly support all the resolutions put forth in today's meeting. Thank you, Chairman, sir. Thank you, ma'am. This was the last question. I now hand over the meeting to Chairman, sir, to address the shareholders' queries. Over to you, sir. Thank you. My dear shareholders, thank you for attending today's AGM and providing your queries and feedback. Let me try and answer all the questions as much as possible. In case if I'm not able to answer some of this, if you need more information, please feel free to send an email or contact our company, and we'll be really pleased to give more recent responses. Dr. Boppana, I think you have asked a lot of questions. I think what opportunities that Tata Elxsi have in the future, specifically as we embrace digital technologies more and IoT, AI, and so on. We work with companies and really, you know, in these three important segments that we have, I think we work with some of the world-class corporations. They actually adopt many of these technologies already, and we have built tremendous capabilities in each one of these areas, whether it is IoT or computing on the edge, AI, machine learning, and so on. I think these are, you know, changing by the week, if I can say it that way. I think there are newer methods of working are emerging, newer tools are coming in. The company continuously looks at all these opportunities and then stay relevant to our customers and at the same time encouraging our employees to upskill themselves in these critical technologies for the future. I do believe that, you know, in each one of these segments that we operate, whether it is automotive, media, broadcasting or healthcare, including system integration businesses, I think, you know, IoT, blockchain, 5G, these are technologies that will come in so handy, and we are quite equipped to harness these opportunities. The investments that we are doing to protect ourselves and in the cyber area, I think, you know, there are. One is that, you know, we are adequately protecting ourselves by having a very good cybersecurity initiative within the company to protect our own networks, our customers' networks, by embracing a number of tools that are there in the market. We also constantly look at making sure that whatever we develop for our customers, whether it is software or products in the area of embedded development, and as we expose many of the microservices or APIs, make sure that the code that we develop are free from vulnerabilities. Clearly, you know, the focus is on securing ourselves, securing our customers, the products that we develop, and ensure that it complies with the many laws of the land, including the data protection laws and privacy laws that we have. There are many people who asked about questions on about our R&D and investments that we are making in R&D. Some pointed out that on percentage terms, that actually it has come down from 2.2% to 1.7%, while it has increased to INR 53 crores in the last financial year. I think the company employs a certain amount of frugal engineering methods to ensure that whatever investments that we make in R&D is very agile, and continue to keep the focus on outcome of the R&D, and how R&D is aligned to our customer needs and the industry needs that we are working on. Point is taken. I think, you know, there are many such areas in which we are investing, and as someone, one of the shareholders pointed out, that. importance of investing in AI, ML is clearly not to be undermined, and we will ensure that we make the adequate investments in R&D. I want to assure all of you that we are not compromising on R&D and our future by no means in under investing in it. Right? How does Tata Elxsi use digital mission is the other question from Dr. Boppanna. I think, you know, we are working on supporting the intent of various aspects of this digital mission in various industries as it is applicable. There are the aspects which are clearly mentioned on National Urban Digital Mission, inclusivity, and then the unified digital interface platforms. Many of these developments, something that we are tracking, we are aligned to deliver, you know, whatever solutions that products and services that we are delivering is, clearly, you know, meeting some of those expectations of, as I mentioned, ease of use as well as, secured, aspects of it. Social media, cell phones, and plans skills match with new age courses like coding, AI, robotics, et cetera. As I said, we have one of the finest digital platforms. The resources that are available for our people to get trained and continuously upskill themselves is, world-class and second to none. We continue to invest and collaborate with leading academic institutions in piloting and jointly co-creating next generation technologies as we apply some of these newer ones into relevant fields like digital healthcare. Automotive vertical, what innovations we offer to TML or Tata Motors and Jaguar Land Rover last year? In both the companies, I think we are working on some of their future areas, including electric, autonomous, connected and infotainment areas. We have licensed some of our products like TETHER. Our connected vehicle platform is something that we have licensed to them. We also won some of the, you know, recognitions and awards for from Tata Motors for the design of HMI and UX, specifically on the Nexon platform that they have. There are more things that, you know, if you are interested, then I think the company can provide more information in terms of what exactly we are doing for them. I think, you know, I have answered many questions. I think you're also talking about too much silence in electric vehicles that could be a cause for accidents. Along with the electric vehicles, the autonomous or automation that comes in will also sense such dangers and then alert the driver, as well as sometimes automatic intervention on the vehicles itself to stop the car rather than, you know, going ahead with the accident. I mean, some of those advancements is there. I think, you know, responsibly, we should use those technologies to ensure that it is meaningful and providing the necessary safety features. I think the second shareholder, Anandaroop Dutta, first AGM, so I wish you many more AGMs, sir, and you are most welcome to participate in it in whatever form that we organize the next AGMs. Thank you for your kind inputs. I think a robust design and the engineering certainty that you articulated in the products that we are doing, and suggestions related to partnering with Titan and other Oculus devices, virtual reality headsets, all that is taken, and we will surely consider it, and I'm requesting the management team to take some of these inputs into their next strategic planning sessions. Many people asked about bonus split, and I think we'll take those inputs. We will place it in front of the board of directors, and we will take appropriate decisions, taking into account the company's strategic plans for the future. Mr. Manoj Kumar Gupta, again, you asked about rewards split. We have answered that question already. Future plans-wise, a lot of people were asking this. The company has a very clear rolling three-year strategic plan. Every year they come up with a three-year rolling plan, outlining the investments that are needed, emerging technologies in which they should participate in it. What are the three verticals that we have right now, and how do we, you know, penetrate those services and products in those three verticals? Any new geographies that we need to highlight, we need to enter, or newer verticals that we need to enter, any alliance partnerships that could be of helpful. There are a variety of topics that people consider, deliberate as a management team, and then they come up with a really, very focused plan for a plan of action for the current year, and then a rolling plan for the next three years. That's something that people continue to do. That also addresses CapEx investments, that also addresses hiring plans, retention plans, and all of that. We have a very fairly, a very comprehensive process of strategic plan, that really pushed the company in a growth path, and I think they are yielding good results. I would encourage the management team to continue the journey for the future. Your suggestions on website and ease of it, as well as putting information related to unclaimed dividend, et cetera, we will certainly consider, then we'll put this across. Mrs. Bharati Saraf, you asked about our role in... Are we working in hydrogen, et cetera? This is an area of focus for us, and I think our customers are also looking at hydrogen technologies. We are doing certain amount of research and collaborating with some of the institutions towards its applicability, and so on and so on. Mrs. Lekha Shah, thank you for your blessings, ma'am. I think the number of employees who are benefited by the ESOP plan is about 2,424 employees. The second thing is how many R&D centers we have. We have six cities in India, in which we have R&D centers. In overseas, we have about four centers. You know, they are all complementing with each other, collaborating with each other to deliver the right value proposition to a customer's problem all the time, right? Mr. Shailesh Mahadevia, I think, thank you so much, sir, for your presence and for your suggestions. Patents, I think what is the validity of the patents? You talked about filing date, when it is granted, and so on and so on. I think, you know, filing itself gives certain protection for us, but of course, you know, it needs to be granted for it to be really secured. You know, we leverage the patents right from the time of filing. The minute we see that, look, there is a original thinking or an innovation or conceptually it is differentiated, then we do go ahead and file the patent, then, you know, use those patent to build our products, our solutions and services. We don't have to wait for the things to be granted to be effective, but generally, you know, if when it is granted, it has a much more potential to of implementing it and then, you know, unlocking the potential of that patent fully. When it is granted, it has much more value. International operations, you know, and then you also talked about who are our competitors. I think many of the Indian, India-based software companies, who are having an engineering services as one of the domains, it's certainly, you know, we compete with them in this particular domain. You know, Tata Elxsi is very much differentiated by the fact that, you know, it's not just an embedded software development, but it is led by design and embracing a number of digital technologies into this. Design digital is a very unique, comprehensive, bundled set of products and services which differentiates the company. In the three segments that we are operating, namely the automotive segment, the media broadcast segment, as well as the healthcare segment, I think, you know, our design-led engineering services are quite unique and differentiating, and our customers really like our offering and then continue to do more with us. In terms of our market share, it's very difficult to quantify, you know, at this point in time, there is enough headroom for us to grow, so we're really not looking at market share, but continue to grow our company's revenue. Our market share is one thing, as long as there is so much headroom to grow, we make the right investments, right innovations, and work with our customers to harness all the opportunities that they are able to offer, I think, you know, we are on the right track. Your suggestion on spreading the millets theme is taken, we will see how we can embed the theme of millets in our CSR initiatives. Economic value add, we don't really systematically do the EVA, our Chief Financial Officer tells me that it's about INR 485 crores is the EVA at 12% WACC, right? You know, as you asked for it. Tejas Networks, I think, you know, it's a company belonging to the Tata Group, between Tata Elxsi Limited and Tejas Networks, there is no direct relationship or direct correlation. However, you know, as Tejas Networks designs new radios, the opportunity is there for Tata Elxsi Limited to go and pitch in their design services into Tejas Networks. That's for both the companies to discuss and then see if it makes sense for them to work with each other. You wanted a copy of the Tejas Networks annual report to be sent to you, Mr. Shailesh Mahadevia. I will request the Tejas Networks secretarial team to do this. I think you rightfully mentioned about the GDP rate and business slowdown, et cetera. It is true. There are many corporations are taking a view of conserving cash in the short term. At the same time, they also recognize the fact that, look, there are certain technologies in which work has to start, and they are investing in it as well. Their budgets itself have not come down while they are conserving it at this point in time. I think, you know, we have to wait and see the next 1 or 2 quarters before we can take a call on where the market is going to go. Mr. Ramaswamy, I think you called out many things. I think I've answered most of it, except that whether we are looking for inorganic growth, inorganic opportunities, and what are the reinvestment opportunities that we are thinking, given the cash positions that we have. I think someone else also asked that question. The company is looking and exploring some of these options, but then, you know, there is enough opportunity for organic growth, and the company is really focused on organic growth. In the area of edge computing, in the area of semiconductors, is there an opportunity? Something that we are exploring. Primarily providing design capabilities, into to other, let's say, semiconductor players, rather than we ourselves doing many of this stuff. You know, though they are all very much work in progress, and then probably you will hear from the company as they announce the next quarterly results or the next AGM, as well, right? Then, we have Mr. Naveen Bothraji. I think I rightfully reminded that it is my ninth year as well. Thank you, sir. Thank you for your patronage and support, and whenever you are in Bangalore, you try to reach the company, reach me. Certainly, a source of inspiration and motivation for all of us. I think the accelerated growth journey momentum that you asked whether we will continue, what are our plans, et cetera. As I mentioned, the company is having those three-year plans, very focused on these three verticals, very niche company, providing certain very unique services and products in those three segments. Naturally, the opportunity is there to get into adjacent micro segments, adjacent verticals, which the company will continue to do this. You know, you talked about, when will we reach? As you know, that we don't give any forward-looking statements or guidance, but, you know, you talked about 2026 and 2027. May that become true, sir. Thank you very much. I think we'll continue to work on these other areas like quantum computing, metaverse, 5G, and all that. They're all relevant areas, and I think, you know, we will certainly need to prepare ourselves to do some of these things. Mr. Ravi Kumar Naredi, I think I also talked about it. I think you rightfully raised certain queries on 1,200 crores of cash that we have, then we are able to generate about 200 crore cash per year, and what are our plans, et cetera. I think I answered it, and then, we will consider your suggestions as well. Mr. Aspi Besenia, thank you for joining the meeting and for your comments. I've answered most of your questions. The receivables, we used to be. It has gone up slightly from 65 days to 60 days to 85 days, primarily because we shifted to a new enterprise system in the last quarter, which has led to us, you know, validating everything correctly once more, and then took some time to generate the invoices, and now that's fully under control. You'll see that receivables will come back to where we want it to be in the quarters ahead. Roughly, you know, transportation, media, and broadcasting, as well as healthcare, if you really look at it. Healthcare is a new segment that we have got into. I think, you know, transportation is our main segment, and probably, you know, media and entertainment is coming second. Between these two, I think we are about 80%-85% of our revenue distribution. The other, healthcare, is nicely growing. I think the company publishes during the quarterly results that share of top customer review, revenue, top 5 customers' revenue, et cetera, et cetera. I think we'll continue to do so. Why JLR come to us and why not with other, their own Tata Technologies, et cetera? I think they work with many companies, and we have, they have enough work to do. At the same time, you know, Tata Elxsi is something that, you know, as I said, the differentiated services that we have, some of the products that we have, like Tether and others, are extremely meaningful. The company has built a very strong value proposition and skill sets, specifically in the electric vehicles area, which I think, you know, augurs well for our own future growth, and that's one of the reasons why not only JLR, but other OEMs and other tier one players come and talk to us. Mr. Kejriwal, I think, you also talked about bonus split, et cetera, which I have answered. Attrition, I think we are at 30. Sorry, the women employees is at. 36%. Huh? Thirty-six. 36%. As far as attrition is concerned, it's about 17.5% in the current year, 17%. Women employees attrition is 17.1%, and men employees at 17.5%. Both have come down significantly from FY 2022 numbers, right? How much of revenue which we will make in AI/ML? We are not tracking it to the extent that we should probably track. You know, in every one of the services that we do, a part of AI/ML is there, so it's very difficult to split that moving forward. Maybe, you know, I think we will take this question as an input for us, input to us, then see whether we want to distinctly track the revenues only on AI/ML moving forward, right? That we will do. Mr. Yusuf Rangwala, thank you for your suggestion on bonus split and others, I think, you know, I've answered your question. Mrs. Ma and Mr. Mascarenhas, I think, both of you, thank you for your time. Your ESG ratings is, we have gone with a company called EcoVadis, and they have given a silver rating this year. Last year, they rated us as a bronze. We have no plans to list our listing per se, but I think, you know, we need to advance our sustainability journey as we move to the next 2, 3 years, and really, you know, achieve our own goal of not just a carbon neutral, but net zero in the soonest possible timeframe. Our initial focus is really to, I think, and as I mentioned in my opening speech, renewable energy usage. Then, as well as our own optimizing our own electricity usage, water conservation, lake rejuvenation. Many of these things that we are doing are all linked to the sustainability initiatives. Auto is our strongest vertical, very closely followed by media, broadcast, and communications. I answered the question on Tejas already. The correct level of patents is what we have already stated as of 31st of March, and in the coming quarter, results, we will publish the actual position as of that quarter, end of that quarter. Attrition levels and retention, I think we are taking many steps, including all employee engagement. I think the ESOP scheme that we are putting together will also further help. New office in Frankfurt, I think you rightfully observed. Future roadmap, I think I talked about it, the three-year plan. You know, defense companies, we don't directly, we don't work too much at this point in time. For the. We have done some work in the past for some of the defense departments in India, that's something that we'll have to see how it evolves and as we move forward. Clearly, you know, we are working with some of the cutting-edge things like, you know, our association with ISRO is very good, and we are also talking to on opportunities with DRDO and so on and so on, right? Mrs. Prakashini Shanoy, I think I have answered most of your questions on sustainability, and increase in revenue in the future. Percentage of women workforce, I think 36%. R&D investment, I already commented on. Last bonus was issued by the company in the year 2017, right? Mr. Gaurav Leeladhar, thank you for joining us from Berlin. I think, you know, your R&D, your comments on sustainability and R&D is well taken, and we will take those things into consideration as we define our future plans. Okay. I think, with that, I have answered all the questions. As I mentioned, if anything on which any of the shareholders want more information, please do write to us. It'll be a pleasure to respond to you the same. Okay? Okay. I think, you know, with that, I think, you know, I would like to move on to my closing remarks. In case there are, as I said, in case there are any more queries, please do write to us. May I also request all shareholders who have not exercised the remote voting to cast their voting through e-voting. I hereby authorize the Company Secretary to carry out the voting process. Please note that the e-voting will be kept open for another 15 minutes. The scrutinizer shall count the number of votes for and against the resolutions after downloading the same from the e-voting system of NSDL. The scrutinizer will then submit his report to the Chairman, which will be put up on the website of the company and filed with the stock exchanges within 48 hours of the conclusion of the AGM. With that, you know, I once again want to thank all of you for joining this AGM, and also thank all the my fellow directors for being there today. With this, I would like to conclude the proceedings of this AGM and wish you all well, and very healthy year ahead. Thank you so much. Dear members, as instructed by the scrutinizers, request all the members participating in the AGM and who have not casted their vote yet, to cast their vote in the remaining period of 15 minutes. Thank you.