MANAGEMENT DISCUSSION & ANALYSIS BUSINESS SNAPSHOT GTL Limited (GTL), a Global Group Enterprise, is a diversified Technology and Infrastructure services company focused on Telecom. In the telecom segment the Company provides network services to telecom operators, OEM's and tower companies. TELECOM Network Planning, Design for 2G / 3G / 4G LTE networks The introduction of smart phones, and the ever growing data usage over the traditional telecom networks, has made the task of planning and optimizing existing networks a challenge to service providers. The Network Planning & Design and services deliver value by designing networks that live up to customer's expectations, with high Quality of Service to support technology and capacity requirements of Operators. GTL's engineers use technology expertise, sophisticated algorithms, world-class tools and disciplined design processes to provide an end-to-end, multi-vendor design solutions across 3G and 4G / LTE technologies. Network Planning & Design cover Radio Frequency (RF) and Transmission Engineering, Fixed and Core Network Engineering for 3G, 4G, Microwave Transmission, SDH, DWDM, WiMAX and Broadband networks. Operations & maintenance GTL under its Network Operations and Maintenance services portfolio manages Operations and Maintenance activities for Telecom infrastructure of Operators enabling them to focus on core areas of their business like branding, marketing and value creation. With this service GTL ensures high level of network uptime with control over operational expenses. GTL's extensive experience on multi technology products across geographies, system & process based maintenance and right shoring of operations provides the operator with required comfort to partner with GTL for managing its business critical task of operations & maintenance. Services such as Network Monitoring & Operations, Network Field Maintenance, Technical Support and Process Management and Logistic with Vendor Management are offered to operators. Energy management GTL's Energy Management Solutions are aimed at reducing energy expenses through installation of energy efficient devices, energy audit of telecom infrastructure, process improvements, using alternate sources of energy like solar and wind. These solutions will benefit service providers by reducing their operational expenditure and their carbon footprint. Widely used diesel generator for power at sites needs to optimized in absence of 24X7 grid power. GTL's Energy Management Services help tower companies and service providers, manage their energy more efficiently. Under the Energy Management Service the Company offers a fixed energy model where the customer pays fixed energy costs based on brvious consumption patterns and a Consumption Per Hour (CPH) model, where in the actual energy costs are reimbursed. Additionally process efficiency is brought in through Tower Operations Center (TOC) operated under Network Operation Center (NOC) which monitors alarms from sites through trouble ticketing mechanism and ensures closure of tickets within specific time frames agreed with customers. TOC also monitors Preventive maintenance activity with focus on equipment ageing life cycle management which helps in asset planning from a perspective of network upgrade. This gives network the required uptime and stability brventing unforeseen equipment failure. managed Services GTL's Managed Services allow operators to free themselves from non-differentiating tasks of building & operating the network and helps them focus on customers and products. GTL's Managed Network Services offerings are based on the Build-Operate-Manage (BOM) model and offer KPI / SLA based end-to-end services. Some of the offerings in which the Company has been able to showcase significant wins are : • Project Delivery Support Services • Network planning, Design and Optimization • Field level Management - Active and passive • Remote Network Infrastructure Management Services (RNIMS) • Network Roll out Services Network Optimization and Benchmarking GTL's benchmarking and Optimization solutions are aimed at improving the performance of an operators network, post the network roll out. With ever changing data traffic demands with the usage of smart phones and brssures on managing the operational costs, service providers are increasingly looking at Benchmarking and Optimization services for meeting the needs of customers and save on capital and operational expenditure. GTL's trained resources offer their expertise across 3G and 4G technologies for benchmarking the operators services against competition and also on optimizing the current network for increased performance. • Network Optimization Verification Drive Test : With a site on air, it is necessary to check the performance of the new site. This is done through verification drive tests. The sites are checked for validating integration parameters and ascertaining call performance: call termination, call origination, handover, power control RX Quality and RX Level. Parametric Optimization : Once a radio network is operational, its performance is monitored. The performance is compared against chosen key performance indicators (KPIs). After fine-tuning radio parameters, the results are applied to the network to achieve the desired performance. The main focus of radio network optimization is on areas such as power control, quality, handovers, subscriber traffic, and resource availability (and access) measurements. Periodic Monitoring & Optimization of the Live Network throughout the Network life-cycle : Regular monitoring of the network health (new rollout and expansion) by doing drive tests and KPI maintenance. • Network Benchmarking and Audit Benchmarking Services is a combrhensive comparative analysis that provides details on in-market analysis and network review. The service evaluates performance against competition and measures network performance using a Drive Test to examine coverage and call quality. Tests are conducted for call availability, call quality, call set up success rate and handover success rate. Site Audit is a process that identifies discrepancies between the design and implemented network. Network Rollout Services GTL offers a combrhensive suite of Network roll out services that supports every phase of the roll out process. The offerings include Active as well as Passive Infrastructure Services for Wireline & Wireless Domain including GSM, CDMA, Microwave Transmission, Optical Transmission, WiMAX and Broadband Networks. GTL's Network roll out services enable customers to roll out their networks efficiently and benefit them with a shorter time to market, thus improving productivity and maximizing their investments into technology. With experience from several projects around the world, GTL has a proven track record of timely and successful roll outs to customer satisfaction. Our multi-skilled technicians and professionals combined with our available processes and techniques create turnkey solutions by managing, integrating, installing and testing the customer's multi-vendor network. • Site Construction Engineering • Management Service • Site Implementation • Acceptances Services • Site Documentation • GTL's Value Proposition power The Company has discontinued Power DF business as detailed in the Directors' Report. case studies Some of the unique projects that we are undertaking for our international customers, that have growth potential moving forward, are described below 4G / LTE network Planning and Design for a large overseas based Operator For a large overseas Operator, we are leveraging Indian skill sets, to deliver Network Planning and Optimization project. The onsite teams located in the country, are used to collect field data, and the Indian resources, do the post processing work, generating feedback and recommendations, which the onsite team then takes forward. This approach has the following advantages: • Faster completion of project • Increased margins • Ability to execute large and complex projects Project Delivery Support Services for a large OEM GTL has won a significant Managed Services deal with a leading OEM. The PDSS - project delivery support service, for their key customers O2, MBNL and Everything Everywhere. This deal is the largest win for GTL in the Managed Services space and the duration of the contract is 26 months. The services offered under the contract would include Project Management, Site Solutions, Installation Planning of Radio and Core Sites, Transmission, Acquisition & other enabling works. This contract is among the biggest deals that the OEM has signed with any of its vendors in Europe this year, and more importantly, this process had been core business and never outsourced. It is a long term deal in the Managed Services domain and has got the potential to be a great reference for GTL. GTL has been successfully handling the Field Operations for nearly 50% of the sites for the Biggest GSM Operator for the last 5 years. The scope of work handled by GTL ranges from, • Basic Passive Equipment Maintenance (Diesel Generators, Battery Banks, Power Management Units, Air Conditioners) to Solar Power Plants • Active Equipment Maintenance (MW, BTS, BSC etc.) • Access Management • Site Security • Electricity Bill Collection to Electricity Bill Payment • Diesel Filling in Generators It is one of the most combrhensive Managed Services contracts & GTL has been successfully managing it for the last 5 years. Network Benchmarking Contract GTL is one of a very few companies doing Network Benchmarking for an Operator on an outsourced model. This project envisaged us to invest one of the latest tools available in the market to do comparative analysis of our Customers & their competitors Network. The scope of contract was to provide network improvement would have to be suggested by us in line with our analysis. PROJECT ENDEAVORS GTL has taken initiatives at field level to enhance efficiency resulting in better management of field operations. This initiative has allowed the Company to focus on customer needs of better uptime and optimum energy management. EB initiative GTL has taken initiative to increase grid power availability at its customer sites. Last year GTL has managed to bring new EB connections to over 500 sites and over 2700 EB reconnections across various circles. EB being the most reliable and cheap source of energy at site, it has been given prime importance at field level. With increase in EB availability the dependency on diesel decreases drastically not only saving cost at site but also reduces pollution which has its adverse effect on the environment. This initiative continues to be part future plans with intention to bring EB to all the sites. Network Upgradation Project GTL has undertaken Network Upgradation project for its customers with aim to upgrade & rectify the network to bring improvements in up-time. The project is divided into three phases across 25,000 cell sites covering Capex as well as Opex upgradation. End of life of equipment and additional equipment requirement for increased tenancy for upgrades are prime considerations for upgrade. The major equipments deployed under CAPEX up gradation are Air conditioners, AC Controllers, AC Stabilisers and Sevo Stabilizers, Diesel Generators, AMF Panels, SMPS, Rectifier Modules, Battery Banks, PIU / PMUs etc. The major rectifications undertaken under OPEX are Aircon rectifications, AMF rectifications, DG rectifications, Shelter Ratifications, SMPS rectifications, and EB rectifications. Solar, wind, Hydro and Fuel Cells Implementation With focus on increasing alternate source of energy, GTL is looking towards Solar, Wind, Hydro and Fuel cell projects for its customers. The objective of project is to contribute to the efficient use of energy towards protection of environment by installing Green / Clean technology at telecom sites. GTL has initiated a pilot project of installation and operation of Fuel Cell System (FCS) instead of Diesel Generator (DG) over number of cell sites. FCS will address the DC power requirements on a 24x7 basis and EB & DG power will be used to power other AC loads at the sites and as back up. vehicle tracking GTL has undertaken SMS based vehicle tracking solution in order to achieve dynamic reallocation of diesel filling teams to address site down & diesel outage issues specifically during force majeure situations. This activity has brought in quick response mechanism to achieve consistency of network uptime. It also helps in mitigating diesel related pilferages. The diesel availability and subsequent filling at site is controlled by NOC through sms based mechanism between site engineer and NOC. The entire activity along with consumption at sites is monitored through NOC which has resulted in improved and efficient diesel management and faster response in case of outages. INDUSTRY STRUCTURE & DEVELOPMENTS As the world telecom market moves from voice to data, the telcos face new technology and infrastructure related challenges in meeting their expansion and customer experience goals. The advent of technologies like 4G / LTE is further adding to those challenges. Operators are now opening up to the possibility of embracing the next wave of mobile broadband revolution - both on coverage and capacity increase of 3G and the adoption of 4G / LTE. The challenges that the service providers are grappling with, are enumerated below. These challenges throw interesting opportunities for service companies like GTL, which has a portfolio of service offerings in the above mentioned area and will aim to leverage the expertise gained in offering and addressing the same. GTL will address the challenge of LTE and new technologies internationally. The Middle East market is moving towards implementation of LTE and GTL is likely to offer its solutions based on our experience in the western world. The Asia pacific market especially Nepal is still at the nascent stage in terms of new technology. GTL is already in dialogue with the operators to implement 3G based solutions along with its energy solutions. Broadly the customers are divided into three segments namely Operators, OEMs and Tower companies. GTL has unique set of solutions for each customer segment. Depending upon the evolution of technology cycle in each country of its brsence, GTL offers its solutions to its customers. OPPORTUNITIES AND THREATS telecom GTL's business operates in the areas of India, North America, Europe, Middle East, Asia Pacific and SAARC. The growth markets of SAARC and Middle East region continue to offer opportunities for Network Deployment, Operations & Maintenance services. The SAARC region is also being explored for offering NOC based services. The matured markets of North America and Europe offer opportunities for Network Planning, Design, Optimization and Benchmarking services. While the developing market offers opportunities in 2G and 2.5G networks, developed markets offer opportunity in 3G and 4G space. The Company plans and continues to operate those projects which offer higher margins and require lower working capital. GTL will concentrate to develop Network Services business in international markets. Domestically, GTL will continue to offer its services of Energy Management for the Telecom business. Operation, Maintenance & Energy Management Services Energy consumption is one of the leading drivers of operating expenses for both fixed and mobile network operators. Reliable access to electricity is limited in many developing countries that are currently the high-growth markets for telecommunications. The roll out of 3G and 4G / LTE networks across this countries will expand the opportunity for Operation, Maintenance & Energy Management services. Additionally in India Network expansion by existing operators in semi urban and rural areas is expected to drive demand for towers in the region. These regions are plagued with shortage of power. Currently power requirements are met through electricity mains, batteries and diesel generators. At GTL, Energy Management is an opportunity to address a critical need of our customers and contribute to reduction of carbon footprint of the telecom industry. GTL plans to use innovative methods and processes, products and solutions that can bring down energy consumption. The Company is looking at leveraging partnership with innovative companies in the field of Energy Management to bring down the energy consumption. The areas that are being looked at include fuel cells, reflective paints, intelligent Energy Management system etc. 4G Expansion The Indian 4G market is expected to see a significant pickup in subscriber base with launch of services in 2015 and a better ecosystem. India's 4G subscriber base is expected to touch about 80 million by 2018-19, with a better evolved ecosystem in place. Reliance Jio Infocomm will launch its services in a phased manner in 2015 with initial focus on launches in Metros and Circle A, which are characterised by high data usage. Though current pricing for data in 4G is comparable to 3G data tariffs, 4G pricing to decline by 10-20 per cent at the time of a more wide scale launch. It is expected, that other operators will follow with 4G launch. This provides opportunity for GTL to enhance its business portfolio with various operators in the industry. Investment from Operators resulting in Higher Tenancy With expected launch of 4G / LTE in 2015, 3G data tariffs will be aggressively priced going ahead, to aid migration of more subscribers to 3G from 2G. Operators will seek alternative strategies to push usage of high-speed services. This could include significant enhancement of the 3G experience either by launching 3G services using dual frequencies (at a lower cost) where the user experience is comparable to 4G or by freeing bandwidth in the current 2G spectrum to ensure higher capacity available to users for a better 3G experience. Investment on infrastructure is expected to increase in order to ensure better services to its end customers resulting in higher tenancy opportunity for GTL. Dramatic changes in environment Changes in global environmental conditions has been a concern in todays world. Climatic conditions have taken a hit not only in India but across the world. Impact can be felt with uncharacteristic changes in weather resulting in untimely rains, floods, temperature swings during day and night and devastation by cyclones. All this has impact on the energy requirement at sites, resulting in unplanned peak / low in energy requirement. This inconsistency result in higher energy cost and also attracts investments to enhance the site condition after such force majeure. Operators and Infrastructure companies need to ready themselves to tackle such unbrdictable conditions in future. FUTURE OUTLOOK GTL's current business focus revolves around leveraging 3G / 4G expertise in network planning and optimization, and operations centric managed service solutions that help operators optimize their costs and enhance their revenues. Moving forward, GTL is evolving a strategy focused on the Remote Network Infrastructure Management Services (RNIMS), Customer Experience Management Solutions building on our expertise in Managed Services, Planning and Optimization businesses. Some of the key shifts that the Company is contemplating in response to the evolving industry and technology landscape and in line with the Company's strategy to generate large annuity driven and high margin revenues are : • One time revenues (project based) to Recurring services revenues: A significant chunk of the services business revenues are one time in nature, the Company would like to work towards a recurring revenue based and long term engagements • OEM dependency to Relationship with mobile operators: We are highly dependent on our relationships / partnerships with OEMS, for generating business • Field manpower oriented services to move towards hybrid model utilizing high end tools: Most of our current service offerings have revolved around resource centric offerings. Moving forward we intend to move towards high end technology services, which offer a chance to have a deeper and a recurring engagement with service providers as our customers. The Company is in the process of entering into partnerships with companies that provides tools and software solutions for Network Services FUTURE OUTLOOK • NOc to GDc: The expertise gained in offering NOC to Indian customers is being leveraged to offer to international customers, with additional capabilities being built in niche service offerings segment reporting "Network Services" comprises of Network Planning & Design, Network Deployment, Professional Services, Energy Management, Operations and Maintenance and Infrastructure Management. The Company discontinued power EPC and power distribution franchise business in 2015 due to losses, therefore revenue was lower. Employee Benefit expenses stood at Rs. 285.89 Cr. (US$ 46.32 Mn.) (11.45 % of revenue) as against Rs. 283.70 Cr. (US$ 45.97 Mn.) (10.77 % of revenue) in FY 2013-14. Other Expenses includes Travelling, Conveyance, Rent, Consultancy, Provision for Doubtful debts and other expenses stood at Rs. 411.11 Cr. (US$ 66.61 Mn.) (66.63 % of revenue) as against Rs. 116.05 Cr. (US$ 18.80 Mn.) (4.41% of revenue) in FY 2013-14. The increase in Other Expenses mainly on account of Provision for bad debts & advances of Rs. 307.41 Cr. (US$ 49.81) as against brvious year Rs. 4.94 Cr. (US$ 0.80 Mn.) Pre-elimination and Post-elimination Revenues of the Group C Exchange Variation The Company and its subsidiaries execute projects in several countries and thus have exposure in several currencies related to bank deposits, payment to suppliers, receivables and loans. Fluctuations in currency exchange rates and interest rates are the potential risks in these transactions. RISK MANAGEMENT In today's dynamic business environment 'Risk Management' is an essential function to have a sustainable & effective business model in place. In India, Enterprise Risk Management (ERM) has evolved steadily in progressive companies. It is developing from being merely a risk identification and assessment process to building a risk portfolio that is continually assessed and monitored. The perception that "risk is not my responsibility" has evolved to a more realistic "risk is everybody's responsibility". GTL has a Risk Management Group (RMG) in place to facilitate the execution of risk management across the organization. The Company's approach is to identify, monitor and evaluate risk throughout the group companies and to manage these risks within its risk appetite. For this very purpose GTL has an Integrated ERM Framework in place. This report brpared in accordance with Clause 49 (IV) of the Listing Agreement with Stock Exchanges in India, sets out the ERM practiced by GTL Limited (the Company). Shareholders and other readers are cautioned that the risks outlined here are not exhaustive and are for information purposes only. New risks and uncertainties arise from time to time, and it is impossible for the Company to brdict these events or how they may affect it. OVERVIEW GTL took a decision to restructure its financial indebtedness in the year 2011-12 and has completed and implemented the Corporate Debt Restructuring (CDR). The current progress under the CDR plan is outlined in the Directors Report. I. FINANCIAL RISK Market Risk The global perspective According to IMF, global activity strengthened during the second half of 2014, but slightly lower than anticipated. The latest World Economic Outlook (WEO) states global activity to improve for 2015 and 2016, largely on account of recovery in advanced economies and emerging markets. However the global growth projected is slightly lower than stated in last WEO revised to 3.5% from 4% for 2015. WEO estimates global growth rate to be 3.8% in the year 2016. • Robust economic recovery is expected to continue in the United States of America, where growth averaged about 4 percent in the last three quarters of 2014. The growth is a result of lower energy prices, tame inflation, reduced fiscal drag, strengthened balance sheets, and an improving housing market • The Euro Area to continue to recover. Lower oil prices, lower interest rates, Euro debrciation and neutral fiscal stance, could boost the projected growth but the lingering Greek crisis and weak private investment could affect growth rate in 2015-16 in a negative way. • Growth remained tepid across the Middle East, North Africa, Afghanistan, and Pakistan last year, and only a modest strengthening is expected this year. In this Fiscal Dollar (US$) has shown strength as a result of positive outlook for the US economy and expectations of a widening monetary policy divergence between the United States Federal Reserve (Fed) and other central banks. Compared to various currencies. INR has held its momentum against Dollar. Previous Chart showsmovement of various currencies against US$. A rise in the index indicates an apbrciation in that currency vis-à-vis US$ The Indian perspective • Reserve Bank of India (RBI) shall continue to maintain current level of interest rates and has fixed the Consumer Price Index as the key economic marker to bring down interest rates. Interest rates are unlikely to soften significantly in the current financial year. Currently RBI reduced the Repo and Reverese Repo by 25 bps to 7.50% and 6.50% respectively showing faith in the Indian economy. RBI may continue to cut the interest rates as the inflation has made it within the Reserve banks’ comfort zone. Market risk is moderate for the Company owing to the CDR that has been completed, helping bring down interest rate to the extent of the rupee term loan exposure. The domestic currency risk has thus been successfully postponed • The Company continues to have exposure to foreign currency loans in the form of External Commercial Borrowings (ECB) of US$ 150 Mn. (overdue), which face un-hedged foreign exchange risks as the Company does not have sufficient foreign currency income to act as a natural hedge for these loans. • As the revenues from our existing business lines are all dependent on the sustainability of Telecom sector, we believe that macroeconomic factors, including growth of the Indian economy, interest rates, as well as the positive political and economic environment, currently have a significant direct impact on our business, results of operations and financial position Liquidity & Leverage Risk • The Telecom industry, which is the main contributor to the Company’s revenues ,continues to face intense liquidity and cost brssures which are adding to the strain on margins and timely payments to the Company from customers, thus intensifying the liquidity brssure on the Company. Telecom operators have also bid for additional spectrum during the year and paid the government more than 18,000 Cr. This has further strained liquidity of Telecom Operators • Due to sectoral developments in the beginning of the financial year 2011-12, the Company faced severe liquidity crunch and had referred itself to the CDR to restructure its debt, which ithas successfully implemented. Due to adverse economic conditions facing the Company which have been discussed elsewhere in this annual report, in Consolidated Financial Statement, the amount payable to its lenders is as mentioned in the table below: Post CDR certain developments severely affected Telecom Sector. The major developments are : • Cancellation of 2G licenses upheld by Hon’ble Subrme Court in February 2012; • Aircel Group’s suspension of tenancy commitments in July 2013; • Slower 3G & BWA growth since auctions; • Freeze on expansion by Telecom Operators; and • BSNL’s decision to suspend expansion. Negative impact arising out of downward trend in telecom industry, delay in policy decisions not only affected the business outlook of the Company but the expected valuation of its investments in Tower Companies in the group expected out of acquisition of Aircel Towers based on the future business outlook. Power Sector • No tariff revisions; • Slash in power tariffs by 20% in Maharashtra; and • Refusal of lenders to offer SBLC despite approval in CDR package. To add to the woes, the recent cancellation by the Hon’ble Subrme Court of all but four of the 218 coal lock allocations by the government over the past two decades has had major implications for the power and energy sector. As per earlier information provided, almost 30% of GTL’s annual revenue, approx. ` 1,200 Cr., was from DF business. Already strained revenues and margins and cash flow will be irreparably impacted further due to the termination by MSEDCL of the DF contract. MSEDCL additionally has claimed ` 393 Cr. from the Company and invoked SBLC of ` 150 Cr. held by it under DF agreement. These factors that are beyond management control, continue to impact GTL’s financial performance and are affecting its ability to meet debt service obligations. The Company belives that MSEDCL claims are frivelous and without validity. The Company has a counter claim of ` 503 Cr. approximately. • Borrowings Inter Creditor Issues The Company has ever since made all reasonable efforts within its control to implement the restructuring of the ECB and NCD facility. However, restructuring of the ECB Facility could not close on account of certain factors beyond management control such as the financial impact of adverse developments in the telecom and power sectors, inter-creditor issues among various lenders of the Company on matters relating to pari-passu sharing of security, payment of interest to ECB lenders etc. Resignation by the ECB Facility Agent and also the ECB Authorized Dealer has further hampered GTL’s efforts to restructure the ECB debt. Similarly, with respect to the restructured NCD facility, while the Company and NCD lender have bilaterally agreed the terms, necessary approval from CDR lenders and consequent execution of the amended agreements and security documents to ensure paripassu rights to NCD lenders to the Cash Flows and Security package of GTL is still awaiting approval of CDR Lenders. Requests of GTL for release of certain interest / principal dues of ECB and NCD lenders have been denied by CDR lenders and not acted upon as CDR lenders are secured lenders and have no obligation towards NCD and ECB lenders. In light of the inter-creditor issues, developments post CDR and alleged non pari-passu treatment to ECB / NCD lenders vis-à-vis CDR lenders, notices have been sent by ECB / NCD lenders to GTL and IDBI Bank Ltd. (as Monitoring Institution to CDR Lenders) advising the Company to desist from: i. Making any further payment to CDR lenders till ECB / NCD interest / principal dues are paid; ii. Sharing the proceeds of Trust and Retention Account (TRA) on pari-passu basis with the CDR lenders going forward; and iii. Creating security in their favor. Actions by ECB Lenders Furthermore, certain ECB lenders have even filed recovery proceedings in the Hon’ble High Court of Justice, Queens Bench Division, Commercial Court, London. The Hon’ble Court vide its Order dated February 20, 2015 directed the Company to make payments in respect of the outstanding principal amount relating to these lenders in terms of the Loan Agreement dated September 8, 2006 executed by participants in ECB. The Hon’ble Court has dismissed the application of the claimants for a summary judgment on theirclaims for interest. Further, the Court has also ordered payment of GBP 31,500 towards Claimants legal costs by the Company. Actions by NCD Lenders In addition to the aforesaid proceeding, on January 09, 2015 the NCD lender has filed a petition before the High Court of Judicature at Bombay inter alia seeking winding up of the Company and in the interim seeking an injunction against any disposal of assets & against making payments to the secured CDR lenders. Notice of filing was served on the Company on January 16, 2015. The CDR lenders and ECB lenders of the Company intervened. By its order dated January 28, 2015, the High Court asked the CDR lenders’ position on the NCD holder’s treatment on pari-passu basis. The matter is currently subjudice. Since all funds of the Company are subject matter of the TRA which is controlled by the CDR lenders, the question of payment to the NCD holder and ECB lenders does not arise, until and unless the CDR lenders decide on the issue directed by the Hon’ble Bombay High Court. In view thereof, as on March 31, 2015, none of the Directors of the Company are disqualified under Section 164(2)(b) of the Act from being appointed as Directors. Initiatives by GTL The Company continues to make efforts to improve cash flow to facilitate an equitable settlement of its debt amongst CDR, ECB and NCD lenders. Reeling under industry happenings, beyond its control, the Company had submitted proposals without altering end date of debt repayment: a. Consolidating GTL Group Level debt at Holding Company (HoldCo) level (April 2013). b. GTL consolidated debt through Debt Realignment Proposal through fresh ECB and SBLC for repayment of rupee debt (September 2013); could not be implemented because of various delays in conclusive decisions till April 2014. RBI issued a circular on April 22, 2014 disallowing ECB and SBLC route for repaying rupee debt. Under current proposal the steps envisaged, subject to necessary approvals, are: • Sale of Operations, Maintenance & Energy business; • Monetization of Investments in Tower Companies; • Realization of Current Assets; • Monetization of non-core assets; • Formation of JV or raising new Capital; and • Such other actions as may be deemed fit in the interest of all stakeholders. For these initiatives, requisite approvals from Shareholders of the Company have been obtained at the 26th Annual General Meeting held on September 16, 2014 and through Postal Ballot for creation of charges / mortgages and for sale / disposal of the whole or substantially the whole of the undertaking(s) of the Company result of which was declared on September 25, 2014. The Company has appraised CDR / NCD lenders of the above initiatives and brsented a plan for their consideration at the Joint Lender Forum meetings held on November 13, 2014, September 01, 2014 and June 17, 2014. While the Company continues to engage with all the 3 sets of lenders, viz. ECB Lenders, NCD Lender and CDR Lenders separately to find a resolution to such challenges, which are beyond management control, we believe that given the challenges of telecom and power sector scenario and its resultant impact on the financial performance of GTL, a joint engagement between all the sets of lenders and GTL to draw a long term road map to resolve the issues is essential. The Company believes that in view of the current unsustainable debt levels and the continued bleak outlook in the telecom sector, the most viable option for the Company would be to divest its assets and enter into a negotiated / one-time settlement with its lenders. The Company has submitted this proposal before the forum of lenders in the context of winding-up petition filed by the NCD holder against the Company, where the CDR / ECB Lenders have also intervened. The matter is currently sub-judice and has impacted GTL’s ability to meet commitment under MRA. C ORPORATE DEBT RESTRUCTURING The Company has implemented Corporate Debt Restructuring CDR) Plan for its Rupee Term Loan. In view of overall set-back in the Company’s business operations, cash losses have been incurred which has resulted in substantial erosion of the Company’s net worth. In addition to the above, certain disputes among inter-creditor has caused delay in restructuring of ECB facility and execution of amended agreement with NCD lender and has resulted in initiation of legal proceedings against the Company which inter-alia seeks an injunction against disposal of any asset and making payments to secured CDR lenders and liquidation of the Company. The Company has taken appropriate legal steps in these matters to defend / protect its interest. Considering the developments post-CDR, intercreditor issues (which is beyond management control) and actions initiated by ECB and NCD lenders, the Company has submitted Settlement proposal for which the Company has envisaged / planned steps, such as sale of Operation Maintenance & Energy (OME) business (part of Network Services), monetization of investment including in Tower Companies, monetization of non-core assets. The Company is awaiting lenders approval / consent and resolution to inter-creditor issues. Credit Risk • A large part of the Company’s business is to provide Network Services to the Telecom Operators and OEMs. Hence, the customer base is largely in the Telecom Industry. As the Telecom sector is facing growth and profitability issues, payments from customers continue to be delayed • A significant portion of the Company’s revenue contribution comes from Aircel, which hasa long term contract with the Company for Energy Management. Any disruption in the arrangement due to delivery issues by the II. strategic risk Industry Risk • The telecom operator's growth plans which had been affected due to various factors like low ARPU, lack of liquidity, high domestic interest rates and uncertainties in Telecom Regulations have been significantly addressed by the following steps • The Government has permitted 100% FDI in the telecom sector for both Telecom Operators and Tower Operators. This is expected to give a major boost to FDI in the sector and ameliorate a lot of liquidity issues facing the sector • The telecom regulator TRAI conducted auction in February 14 and the Auction saw success where a new entrant Reliance Jio actively participated for 1800 MHz Spectrum. Only 8 major operators participated of which incumbent operators like Vodafone, Bharti Airtel, Idea Cellular bid for the spectrum in Metros and Circle A where GTL has major operations. Further the auction saw successful bidding over Rs. 28,000 Cr. • The new government and the successful auction could mean positive avenues for the industry in the next year which will lead to growth in this sector • The 3G services have not yet attracted desired level of customers and still witnesses slow growth. But it is anticipated that 3G will pick up in the coming year which will have positive impact on the Company's business prospects and growth Until 2012 India had lowest mobile-phone penetration rate in Asia but this has changed. Now India has the second largest base of mobile subscribers in the world and has one of the fastest growing mobile internet base across the world All the above mentioned factors could lead to positive changes in the sector in times to come Business concentration Risk • Historically, the Company has been in the telecom sector functioning as an ancillary to Telecom Operators. The customer profile has always been Telecom Operators, Original Equipment Manufacturers (OEMs) and tower companies. Almost 85% of the Company's revenues has come from India. Therefore, the element of customer concentration risk was always very high. The Company had entered into the business of Energy Management and won a big contract with Aircel which is expected to generate around 33% of the revenues of the Company. Therefore, the performance of the Company are very tightly integrated with those of some customers like Aircel and the Company should take steps to mitigate such concentration risks by getting additional customers and also geographically diversifying operations and customer base competition Risk • The Competitive landscape for the Company is limited in the telecom side of the business as most of the competition in network rollouts is from small fragmented players. The Energy Management business has been pioneered by the Company. The first contract of its kind has been signed in the country with Aircel. In Network Planning and Optimization the competition is from IT firms but not from any telecom players III. OPERATIONAL RISK Reputation Risk • The Company still continues to face reputation risk due to the multiple factors like erosion in market capitalization, the CDR, other issues beyond management control & industry dynamics discussed in this report Project Risk • It is critical for the Company to execute large & complex projects within budgeted cost and schedule to avoid penalties from customers. In most of the Company's contracts there are penalties / liquidated damages and any delayed or deficient delivery may lead to a loss of profitability for the Company • Certain banks had incorrectly withheld release of sanctioned limits of PBGs and working capital which also one of the reasons for discontinuation of Power DF Manpower Risk • The Company's earlier ESOS plans have taken a significant value erosion and most options granted to employees are now out of the money therefore may not be a likely retention tool for employees in the near term and may lead to higher attrition. However, the Company hasn't seen significant attrition. The Company has also chalked out a good incentive and reward scheme for employees and has thus been able to retain most of its quality manpower resources Automation, IT Security & Business continuity Risk • Service related business extensively depends on IT systems to provide connectivity across business functions through software, hardware and network systems. Any failure in IT systems or loss of connectivity or any loss of data arising from such failure can impact business continuity adversely • The Company has implemented Disaster Recovery Plan and has effective back up systems in place to ensure business continuity • The Company needs to introduce effective automation in businesses like Energy Management to rationalize costs, improve efficiency in delivery and improve profitability Technology Risk • The Company constantly strives to identify new technology requirements and adapts to provide new services to its customers. Investments are required in training in software and service architecture for certain businesses of the Company iv. legal & compliance risk Legal and contractual Risk Till date Company's customers have co-operated and we have not seen significant increase in penalties Regulatory Risk • The business segments that the Company operates in are heavily regulated by multiple regulators like TRAI, DOT etc. so the operations of the Company may be subject to regulatory uncertainties and also impact on profitability v. OTHER RISKS These risks may not have direct impact on the organization and its activities but are risks that could affect the stakeholders of the Company and thus may affect the Company in long run. Political Risk • The Company does not have any interface with the Government or any regulatory authority in its business INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY The Internal Control Framework of the Company is devised to provide reasonable assurance regarding the achievement of objectives in the following categories: • Effectiveness and efficiency of operations • Reliability of financial reporting • Compliance with applicable laws and regulations With the objective of safeguarding the Company's assets and ensuring financial compliance, there are well documented and established operating procedures in the Company and its subsidiaries, in India and overseas. The Internal Control Framework of the Company is made up of five components. They are derived from the way the management runs an operation or functions and are integrated with the management process. The components of the internal control framework are: control Environment The control environment of the Company sets the tone of an organisation, influencing the control consciousness of the employees. Control environment factors include the integrity, ethical values and competence of the Company's employees; management's philosophy and operating style; the way management assigns authority and responsibility, and organizes and develops its employees and the attention and direction provided by the Company. Risk Assessment The Company has a system of risk assessment which covers the identification and analysis of relevant risks to achievement of the objectives, forming a basis for determining how the risks should be managed. control Activities The Company has a well-defined set of control activities that includes the policies and procedures that ensure management directives are carried out. They include a range of activities as diverse as approvals, authorisations, verifications, reconciliations, reviews of operating performance, security of assets, and segregation of duties. Information and communication Information systems produce reports containing operational, financial and compliance-related information that make it possible to run and control the organization. The Information systems also ensure that effective communication occurs in a broader sense, flowing down, across and up the organization. Monitoring The Company has also a process to ensure that Internal Control Systems are properly monitored - a process that assesses the quality of the system's performance over time. This is accomplished through ongoing monitoring activities, separate evaluations or a combination of the two. Ongoing monitoring occurs in the course of operations. An independent review of the internal control systems is also carried out by the Statutory Auditors. Any significant deficiency in internal control along with the progress in implementation of recommended remedial measures is regularly brsented to and reviewed by the Audit Committee of the Board. Internal Audit The Role of Internal Audit Department is in line with the role for Internal Auditors as laid down by the Institute of Chartered Accountants of India, as given below: • Understanding and assessing the risk • Identifying areas for systems improvement and strengthening controls • Ensuring optimum utilization of the resources of the Company • Ensuring proper and timely identification of liabilities • Ensuring compliance with internal and external guidelines and policies of the Company as well as the applicable statutory and regulatory requirements • Safeguarding the assets of the Company • Reviewing and ensuring adequacy of information systems security control • Reviewing and ensuring adequacy, relevance, reliability and timeliness of management information system The Internal Audit process is designed to review the adequacy of internal control checks in the system and covers all the significant areas of the Company's operations. The Internal audit department performs risk based audits, based on an internal audit plan, which is reviewed each year in consultation with statutory auditors and the Audit Committee. The Audit Committee reviews monthly Audit reports submitted by the Internal Auditors and tracks the implementation of corrective actions. The Internal Audit Department is well staffed with experienced members. Some significant features of the Internal Control systems are: • Well-defined Corporate policies on accounting and major processes • Well-defined processes for formulating and reviewing annual and long term business plans • Preparation and monitoring of annual budgets for all operating and support functions • A well established Internal Audit team, which reviews and reports monthly to management and the Internal Audit Committee about the compliance with internal controls and the efficiency and effectiveness of operations • Audit Committee of Board of Directors, regularly reviews the audit plans, significant audit findings, adequacy of internal controls, compliance with Accounting Standards as well as reasons for changes in accounting policies and practices, if any Thus effective internal controls enhance the organizational performance and contribute towards accomplishment of company objectives. HUMAN RESOURCES 1. Objective The primary objective of Human Resource (HR) function is to attract and retain talent with requisite competencies, especially for emerging businesses and focus on training and development to improve productivity thereby strengthening the competitive edge of the Company. As on March 31, 2015 GTL has 5,043 associates directly or indirectly working for the Company as against 6,383 associates in March 31, 2014. 2. Talent Management Organizations are made up of people creating value through proven business processes, innovation, customer service, sales, and many other important activities. As an organization, we strive to meet our business goals, by making sure that we have a continuous and integrated process for recruiting, training, managing, supporting, and compensating people. Based on the business growth, we source and recruit close to 100 professionals every month. Talent acquisition helps us to enhance efficiency and also bring about positive cultural change within the Organization. 3. Learning & Development Learning and Development (L&D) strategy is an organizational strategy that articulates the workforce capabilities, skills or competencies required to ensure a sustainable, successful organization and that sets out the means of developing these capabilities to underpin organizational effectiveness. Training has implications for productivity, health and safety at work and personal development. Training Need Identification (TNI) is arrived at from our Performance Appraisals' system. TNI helps employees do their work more effectively and efficiently. Based on training requirements provided by divisions / departments a Training Calendar is brpared and circulated. GTL's training plan bears a direct and powerful relationship to its ability to recruit and to retain employees. GTL offers training opportunities that help employees become more proficient in their work and follow a career path to fulfill their career aspirations. Effective training can help retain employees by giving them skills they need to make a difference and the confidence to keep trying, learning, and growing professionally. 4. Health, Safety & wellbeing As a leading Network Engineering Company that caters to global customers, GTL takes its Health, Safety and Environment initiatives seriously and the HSE objectives form an integral part of the overall corporate strategy. Regular trainings on awareness on HSE issue are conducted. Employees are encouraged to participate in the community activities initiated through Global Foundations, like health awareness seminars, marathons, Cyclothons etc. Employee health and safety are priority concerns. We engage in a wide range of initiatives and programs to afford them appropriate protection in the workplace. We also have an in house Medical Centre. During the year under review, no complaint / case has been received in terms of Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 and Rules made there under. 5. Employee Engagement The employee engagement initiatives at GTL are undertaken with an objective of shaping a positive experience that drives advocacy, productivity and profitability. We strive for consistency and a two way communication flow - top down and bottom up, and communication that gives clarity on performance and feedback and overall, shapes organizational culture. Towards these objectives, we have several initiatives that are giving positive results. • Rewards and recognition process We understand the importance of developing a recognition and reward program to recognize the accomplishments and validate the work of our employees. 218 employees have been recognized for their efforts through Passion for Action Program . We plan on expanding the scope of this program by recognizing performers across many more categories. GTL aims to achieve number of results through recognition and reward programs, including: • Motivating and reinforcing high performance • Creating a positive work environment • Attracting and retaining employees • Creating a culture of recognition • Increasing employee morale • Supporting the organization's mission and values • Encouraging loyalty • Internal communication newsletter The Globalite - Internal Newsletter is a valuable communication tool and is released on a monthly basis. Information is conveyed to employees that involves both work and social activities. This includes, accomplishments, general information and how the Company is operating. 6. Looking forward the year ahead • Improve on training system to ensure better skill upgradation. Developing our talent and ensuring that our employees have the right skills and competencies is a priority that will continue. We are committed to providing employees and administrators with the tools and skills they need and we plan on enhancing our existing offerings and developing new offerings to ensure employee success • Raise the bar in the Reward & Recognition program by broad basing the program QUALITY & PROCESS Our Quality Management System has been laid on strong systems and processes in order to capture "Voice of Customers" and "Voice of Business" to help achieve our core value of "Delighting Customers through Superior Services". At GTL, our focus is on maturing and stabilizing world-class processes and procedures yielding the best possible Quality. A holistic approach is adopted to involve everyone - Employees, Customers, Suppliers, Shareholders and Society to achieve operational excellence. Quality Initiatives at GTL Quality initiatives at GTL are taken to achieve excellence in Business, Operations and Processes. Business Excellence We adopted IMC's Ramakrishna Bajaj Business Model based on Malcolm Baldrige Business Excellence Framework in 2004 and CII - ITC's Business Sustainability Award Model in 2007. The adoption of these models helped us to fine-tune our systems and processes to ensure sustainable growth and excellence. Our efforts were recognized at various National and International Forums when GTL received awards in various categories as follows: • Ramakrishna Bajaj Performance Excellence Trophy in 2008- 09 • Ramakrishna Bajaj Outstanding Achiever Trophy in 2010- 11 for exemplary performance in all aspects of Business Excellence • GTL was awarded Commendation Certificate for Strong Commitment towards Sustainability in 201011 by CII - ITC Centre of Sustainable Development • International Asia Pacific Quality Organization awarded GTL Limited the "World Class Award", the highest award, in the Large Services category for the "Best Performing Organization in the World" for year 2010-11 Process Excellence Reinforcing its commitment to high levels of quality, best-in-class project management and robust service delivery practices, GTL attained a number of milestones during the FY 2014-15. • Continuation of the ISO 9001:2008 (Quality Management System requirements) Certification • Continuation of the ISO 14001:2004 (Environment Management) and OHSAS 18001:2007 (Occupational Health & Safety Assessment Series) Certification Apart from this, GTL Limited is in the process of incorporating Energy Management System in the Operation and Maintenance System after which fresh application for TL 9000 Certification (a Communications Industry-specific Quality Standard developed by QUEST Forum) may be considered. The above certifications are a testimony to GTL's commitment to achieve the highest standards of Quality. The cornerstone of these Certifications is the in-house developed Business Management System, a vibrant, process-driven, people-oriented and customer focused Management System which is continuously evolving to cater to the requirements of the organization's varied business offerings. Operational Excellence GTL's operational excellence is a result of implementing a blend of Sustainability Initiatives. During the year, extensive trainings related to Environment, Health & Safety as well as etiquettes were conducted for Employees . corporate social responsibility The objective of CSR at GTL is to take a balanced approach to address economic, social and environmental issues through diverse programs in the field of education, health, disability and community development. GTL's CSR activities are channeled through the Global Group's not-for-profit arm i.e. Global Foundation. Since the Company is currently in CDR, it is not contributing to the Global Foundation which is being managed through the generosity of employees and other donors. We take this opportunity to thank all our employees for their continued commitment and support through the payroll-giving program and for actively participating as Positrons (volunteers). Employee volunteerism Program In addition to financial donations and in-kind support, employee volunteer programs allow companies to cultivate a personal link to the community. At Global we have realized that if employees are given the opportunity to pursue their social commitments, they get a sense of work-life balance and a renewed apbrciation of their jobs. Employees who volunteer their time for the Foundation are known as Positrons-People who exude positivity. Positrons are the lifeline of our CSR activities, through their continued commitment towards the Foundation's objectives. The Foundation has been able to engage employees in a number of activities & projects. Art of Giving (Payroll Giving Initiative) Art of Giving is a voluntary payroll giving initiative of Global Foundation through which employees provide financial contributions for the long-term sustainability of projects. More than 880 Global Group employees regularly donate to the Foundation. Most of these initiatives have been in progress for over fifteen years. As we look back there is an overwhelming sense that these initiatives are seamlessly aligned with the national vision of our Hon'ble Prime Minister-one such being the recently launched Digital India. Computer Education for the blind, Knowledge on Wheels (KNOW), Computer education programs in schools in rural areas and computer training for senior citizens are some of the programs which has helped ensure that the under-served are not left behind but on the other hand, are IT ready. It's humbling to realize that in our zeal to reach out to the under served communities through our various computer education programs, we have already made significant inroads to make the Digital India Movement a reality. Even as we are making efforts to digitally enable the community, we also realize that working knowledge of English is equally important. Moving in this direction, we intend to launch English training program not only for students but across other sections of the community. 'Swachh wadi, Sunder gaon' is another significant and exciting program that was launched in response to the Hon'ble Prime Minister's 'Swachh Bharat Abhiyan'. Teachers and students in various towns and villages of Sindhudurg cleaned up public places. Soon the community got involved too. It did not end there. Students conducted surveys in villages regarding sanitation and health. education Our philosophy towards education is to ensure meaningful education to the economically under served sections so as to enable them to compete on equal footing. The education program covers 3 areas - Computer education, English language education and Value education to students. We do this through the following programs. Gyan IT - computer Education The field of education has seen a fair number of transformations over the years. In this age of rapid technology growth; we see a world which is more connected than ever before. Global Foundation had the vision to map these changes very early in the 90's and worked towards making a part of Maharashtra computer literate by setting up labs in schools in the Sindhudurg district. One of the greatest advantages of having labs in schools is the fact that everyone can have equal access to computers. All students who have little or no access to computers in today's day and time are able to learn technology and build a better future for themselves through those labs. Last year Global Foundation successfully set up 27 computer labs which benefited approximately 2,600 students. The Foundation has set up more than 133 computer labs all over Sindhudurg district in the last 11 years which has benefited more than 188,000 people. Knowledge on wheels (KNOw) Global Foundation under project 'KNOW', reaches out to the rural students through its mobile computer lab along with a qualified instructor. This unique mobile computer lab traverses through rural areas to promote IT literacy. More than 43,361 students have been covered in this program. At brsent the KNOW bus is traveling through Sindhudurg district training the school children for whom computer education is a challenge. The tremendous response from that area has also been seen and apbrciated by educationists who have requested that a similar kind of bus is launched in other such areas. Gyanjyot Education Financial Support Program The Foundation had started this Educational Financial Support scheme in order to support children from economically backward families. The objective of the scheme is to provide financial assistance to students belonging to poor families so as to enable them to pursue and complete their education. Year 2014-15 saw many students taking advantage and more than 1400 students were supported financially under this program. To date the Foundation has provided 5,584 scholarships. Education for Peace - value Education Education for Peace program (EFP) is our contribution to build a better future by empowering school teachers and students. Education for Peace implies a paradigm shift in the total transaction of education. The training enables and equips teachers to nurture among children knowledge, attitudes and values that comprise a culture of Peace. It is a long-term proactive strategy to nurture peaceful persons who resolve conflicts non violently. Education for Peace has taken a huge leap in the year 2014-15 in terms of diversity of activities for students and content, delivery and coverage for teachers. Professional trainers were assigned to design a competency training program-"Antarjyot" which covers six competencies to build required skills to transform teachers to become Peace educators. The design also lends itself to be measured to facilitate scaling up. Another milestone has been partnering with like minded organizations working in this field. Outcomes have been experience-sharing, training the trainers and collaborating with partners in framing and designing the curriculum for peace activities as envisioned by UNESCO and NCERT. EFP is holistic, embracing the physical, emotional, intellectual and social growth of children within a framework of human values. • Teachers: The Foundation has created a competency based framework to train teachers on Holistic Thinking, Interpersonal Skills, Execution Excellence, Transformational Leadership, Problems Solving and Decision Making and last but not the least Communication and Etiquettes HEALTH & SAFETY Aarogya Health does not merely mean the absence of a disease but also the general well being or freedom from an illness. The Indian population is weighed down by diseases due to lack of environmental sanitation and safe drinking water, malnutrition, poor living conditions, and limited access to brventive and curative health services. Expenditure on health care in our country has been minimal and hence there is a gap in the urban & rural medical services. Global Foundation has been creating health awareness in parts of Maharashtra and is conducting general health camps, diabetes awareness, ophthalmic and blood donation camps for more than 11 years. Hemoglobin checkup camps have helped people identify and treat many potentially harmful diseases. The mobile health van services are provided free of charge. Global Foundation's mobile health van travels to areas that do not have ready access to health services. Our van enables doctors and health counselors to overcome the obstacles that often brvent or deter people from obtaining important health tests. The van frequently visits community centers, old age homes and schools also to conduct various health related camps Emergency Medical Assistance As per the World Health Organization (WHO) survey, there are around 30% people who die due to lack of adequate Emergency Medical Services. Emergency financial assistance for treatment is an essential part of the healthcare support provided by Global Foundation. We have also provided a couple of ambulances and medicines in the after math of the floods in J&K. Therefore, developing a strong emergency medical assistance system has been one of the focal points of the overall health care objectives of Global Foundation. DISABILITY Netra Global Foundation's project Netra for the visually impaired has an Advanced Computer center in Mumbai. Global Foundation intends to provide training and enables the visually impaired achieve success in pursuing higher education, cope with a competitive work environment and discover better employment opportunities. The Computer courses are supported by additional soft skills and personality development programs by Positrons and other volunteers. Refresher courses and sessions on the interview process are conducted to enhance their job prospects. Last year a total 35 students were awarded certificates on successful completion of their courses. Many of them have found jobs in the IT sector, banks and have become financially independent. At brsent 18 students are currently undergoing the basic & advanced computer course at Global Foundation's Advanced Computer Center for the Visually Challenged at Mumbai. The Foundation encourages students and trainers to seek better opportunities in the main stream corporate sector. Many students as well as past trainers have gone on to do very well in their professional careers after training. The Foundation has also supported the Cricket Association for the Blind in Maharashtra to conduct Blind Cricket Tournament in FY 2014-15. community development Community Development supports the establishment of strong communities who work together to improve the social structure of a country. Towards this, the Global Foundation has supported in constructing the building of a School at Alibaug in the state of Maharashtra that enables more students to be admitted in primary section. The Foundation has also provided bio toilets in some schools. We also supported 4 shelter homes for girls in J&K by providing them with solar lamps, inverters and UPS that would assist them with their education and livelihood since they were adversely affected due to the floods. village Knowledge center (vKc) - IT Education for women & livelihood skill training programs The VKCs have benefited women mainly housewives by generating employment and improving their standard of living. It's also a center for learning and awareness in rural areas. Women earn a decent amount without having to leave their homes for longer duration. This has added to their self esteem and confidence. At brsent Global Foundation supports two VKCs in Kudal and Vengurla which provides computer education and vocational training to women. Special tailoring batches for girls, soft toy training and purse making have benefited women in the vicinity. Additionally women have also taken advantage of the computer training programs and have found jobs near their homes. Global Foundation's support to other NGOs and institutions during the FY 2014-15 • Borderless World Foundation - Support for Jammu & Kashmir (J&K) Flood Relief • Standing Together Enable Peace Trust (STEP) support for Youth development centre at J&K • Shri Lalita Charitable Foundation - Support for constructing school for students affected by Cancer and AIDS ENVIRONMENT PEDAL FOR PEACE CYCLOTHONS The Government of India has been taking several measures to promote cycling as an alternate means of transport. The objective being to decongest roads, promote sustainable cities and greener environment. Recognizing this as an important initiative, the Foundation, has started promoting cyclothons to sbrad the awareness of cycling, greener environment and also to ensure safer roads for pedestrains and cyclists. Global Foundation supports Pedal for Peace cyclothon, an annual event, that is held with an objective to promote the message of cycling, peace and harmony. The cyclothon is organized from Thane to Mumbai and back, covering a distance of more than 100 kms. So far the cyclists have covered more than 13,100 kms sbrading the message of cycling and peace. Standard chartered Mumbai Marathon (ScMM) Every year Global Group employees participate in the Standard Chartered Mumbai Marathon to support the Global Foundation. This year 112 persons took part to support and donate to the Global Foundation. environment excellence GTL Limited is an Energy-conscious, Environment-friendly Business Organization. The Company has been taking various measures to achieve continual sustainable development and has put in a combrhensive Environment at Management System (EMS). GTL being a Service Provider has limited impact in terms of Environmental Pollution. Some of the Initiatives taken are described below: 1) Statutory & voluntary compliances Through the EMS framework, GTL ensures that it complies with relevant laws of the land and provides for a work environment that is safe. 2) consumption of Natural Resources The Company also actively moniters the consumption of electricity, water & paper. As an offshoot from the EMS, GTL developed Green Energy based Solutions for Telecom Towers under the Energy Management System. GTL's Energy Management Services help in reducing Electricity and Diesel consumption expenses of Telecom sites. The Energy Management Solutions harness wind / solar / free cooling and other solutions that reduce the electricity and diesel requirements. These solutions coupled with energy audits and reduced power losses, help the Telecom Customers reduce their power consumption and carbon footprints. |