September 28, 2020
Genesys AGM 2019-2020 Transcript
Our analyst
Read of this earnings call — headline is the investment verdict. Research synthesis, not investment advice.
No actionable investment read-through:
this AGM primarily covered statutory approvals and governance matters, with no operating or financial outlook provided. Shareholders received no substantive Q&A, while revised director remuneration and a new ESOP scheme add governance and dilution considerations without quantified detail.
- Annual General Meeting
- Corporate Governance
- Director Remuneration
- Employee Stock Options
- No Operating Outlook
Near term
- Approval and implementation of revised remuneration terms for the chairman and whole-time director.
- Potential market focus on the size and dilution impact of the Genesys ESOP Scheme 2020, which was not quantified in the transcript.
Longer term
- Actual operating performance, earnings trajectory, and cash generation remain unassessed from this AGM.
- Future dilution and capital-allocation discipline should be monitored following approval of employee options and director compensation changes.
Red flags
- No substantive shareholder questions or analyst-style challenge were recorded.
- Remuneration revisions and ESOP approvals were presented without financial amounts, dilution estimates, or performance conditions in the transcript.
- The AGM provided no guidance on revenue, margins, earnings, strategy, or competitive positioning.
RECORDING TRANSCRIPT
38TH ANNUAL GENERAL MEETING
Date of Meeting
Monday, September 28, 2020
Time
4.00 P.M. (IST)
Place
Through Video Conferencing/ Other Audio-Visual Means
Regd. Office
73-A, SDF-III, SEEPZ, Andheri (E), Mumbai-400
096, India Tel.: +91-22-2829 0303; +91-22-4488 4488; Fax:
+91-22-2829 0603
Website
www.igenesys.com;
E-mail:[email protected] CIN:
L65990MH1983PLC029197
Mr. Vineet Chopra
Good Afternoon all, and welcome to the 38th Annual General Meeting of
Genesys International Corporation Limited.
Requisite quorum for the meeting is present. I would like to inform the shareholders that the Company had extended remote e-voting facility to members during 25th September 2020 to 27th September 2020.
Shareholders who could not cast their vote still have an opportunity to cast their vote during the meeting. Mr. Sanam Umbargikar of M/s DSM &
Associates, Company Secretaries, is the Scrutinizer for today’s meeting.
Mr. Sanam Umbargikar, Partner of M/s DSM & Associates, was also present in the meeting.
Now, I would request chairman to take up further proceedings of the meeting.
Mr. Sajid Malik, Chairman & Managing Director of the Company to Chair the meeting. We have the requisite quorum present through video conference to conduct the proceedings of this meeting.
Before, I handover to conduct the proceedings of this AGM to the
Chairman Sir, I would like to draw the attention of the members to a few points.
Mr. Sajid Malik
Welcome to Shareholders. a. Necessary quorum for meeting is present, I declare AGM as ‘open’.
b. Introduction of colleagues present
• Mr. Ganesh Acharya: Independent Director & Chairman of the
Audit Committee
• Mrs. Saroja Malik: Whole-time Director
• Mr. Ganapathy Vishwanathan: Director
Mr. Shreyas Parikh, Partner of GK Chokshi & Co., the Statutory Auditors was also present.
The Chairman then delivered his speech.
With the permission of shareholders, Notice & Directors Report is considered as read. Company Secretary may please read the agenda items.
Regd. Office
73-A, SDF-III, SEEPZ, Andheri (E), Mumbai-400
096, India Tel.: +91-22-2829 0303; +91-22-4488 4488; Fax:
+91-22-2829 0603
Website
www.igenesys.com;
E-mail:[email protected] CIN:
L65990MH1983PLC029197
Mr. Vineet Chopra
Agenda Items for today’s meeting are:
Ordinary Business
1. Adoption of Accounts, Report of the Auditors and Directors thereon for
FY ended on 31st March 2020.
2. Re-appointment of Director retiring by rotation.
Special Business
3. Appointment of Mr. Manish Patel (DIN: 03051315) as Independent
Director.
4. Reappointment of Mr. Manish Patel (DIN: 03051315) as Independent
Director.
5. Revision in terms of remuneration of Mrs. Saroja Malik, Whole-time
Director for remaining term.
6. Revision in terms of remuneration of Mr. Sajid Malik, Chairman and
Managing Director for remaining term.
7. Payment of remuneration to Mr. Ganapathy Vishwanathan,
Non-Executive Non-Independent Director.
8. Approval of Genesys International Corporation Limited - Employee
Stock Option Scheme 2020 (“Genesys ESOP Scheme - 2020”)
9. Grant of Stock Options to the employees of Subsidiary Company/ies under “GENESYS ESOP SCHEME - 2020”
Mr. Sajid Malik
Auditor’s Report has no qualification or adverse observations, I consider it as read.
Now I invite members to raise queries.
Mr. Vineet Chopra
We have Mr. Yusuf Rangwala as a registered speaker.
He was invited, however he was not present.
Mr. Vineet Chopra
Thankyou. With this, we can conclude the question session from shareholders. I would like to inform all the members who could not cast their votes through remote e-voting can cast their vote now on this portal in next few Minutes present at the meeting.
Mr. Sajid Malik
This concludes the business of the 38th AGM of the Company. I thank you all the members and the Board for the participation and smooth conduct of the meeting.
*****************************************
Regd. Office
73-A, SDF-III, SEEPZ, Andheri (E), Mumbai-400
096, India Tel.: +91-22-2829 0303; +91-22-4488 4488; Fax:
+91-22-2829 0603
Website
www.igenesys.com;
E-mail:[email protected] CIN: