August 05, 2024

BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400 001. Scrip Code: 543398

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex Bandra East, Mumbai 400 051 Scrip Symbol: LATENTVIEW

Dear Sir/Madam,

Sub: Notice of the 18[th] Annual General Meeting (“AGM”) and Annual Report for Financial Year 2023-24

Please be informed that the 18[th] AGM of the Company is scheduled to be held on Tuesday, August 27, 2024, at 9.00 a.m. IST through Video conferencing (VC) and Other Audio-Visual Means (OAVM). Copy of the Notice of the 18[th] AGM and the Annual report for the Financial Year 2023-24 is enclosed. The Company has availed the services of Central Depository Services (India) Limited for the e-voting platform and video conferencing facilities.

In compliance with the provisions of Companies Act 2013, rules framed thereunder and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, the Notice convening the 18[th] AGM of members and the Annual Report for FY 2023-24 has been sent through electronic mode to all the members of the Company whose names appear in the register of members/register of beneficial owners maintained by the depositories as on Wednesday, July 31, 2024 and whose e-mail addresses are registered with the Company / Registrar and Share Transfer Agent/ Depository Participant(s).

The following reports are also published on the website of the Company:

Name of the Report Website Link	Name of the Report Website Link
18thAGM Notice	Click here to download Notice
Annual Report for FY 2023-24	Click here to download Annual report

AGM Information at a glance:

Particulars	Details
Time and date of AGM	09:00 AM IST,Tuesday,August 27,2024
Mode	VC/OAVM

Particulars		Details
Helpline number for VC participation		CDSL : 1800 21 09911 NSDL : 022-4886 7000 & 022-2499 7000
Recordingand transcripts		https://www.latentview.com/investor-relations/
Cut-off date for e-voting		Tuesday,August 20,2024
E-votingstart time and date		Friday,August 23,2024(9:00 a.m. IST)
E-votingend time and date		Monday,August 26,2024(5:00p.m. IST)
E-votingwebsite of CDSL		https://web.cdslindia.com/myeasitoken/home/login

This announcement is also available on the website of the company i.e., https://www.latentview.com/.

This is for your information and records.

Thanking you,

For Latent View Analytics Limited

PARTHASAR Digitally signed by PARTHASARATHY ATHY SRINIVASAN Date: 2024.08.05 SRINIVASAN 22:26:24 +05'30'

_____

P. Srinivasan

Company Secretary and Compliance Officer

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ACTIONABLE INSIGHTS. Accurate Decisions.

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Latent View Analytics Limited Annual Report 2023-24

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Actionable Insights. Accurate Decisions. We’re focused on bridging the gap between insights delivery and value realisation, partnering with our clients to help them cross the last mile gap in analytics. But actionable insights are more than just numbers on a page. They’re about understanding the underlying trends, identifying emerging opportunities, and anticipating potential risks. It’s about translating complex data into clear, actionable both their professional and personal pursuits. recommendations that drive tangible results.

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profitability; rather, they represent a diverse array of individuals with unique backgrounds and viewpoints. By cultivating a collaborative atmosphere, we cultivate trust, spark creativity, and attract & nurture outstanding talent. Our ultimate goal is to empower individuals, enabling them to hone their skills and unleash their full potential in both their professional and personal pursuits.

At LatentView, we realise that becoming a data driven organization is not a sprint, but a marathon. As with every marathon, the building blocks are as important as a strong finish. A lot of enterprises struggle with taking data analytics beyond insight generation and use them to generate value and drive decisions.

At the core of LatentView’s achievements lies a powerful fusion of profound domain expertise, mastery in advanced analytics, and a vibrant workplace ethos. This synergy empowers us to provide technological solutions, invaluable insights, and strategic counsel, equipping our clients to overcome any obstacle they encounter.

So, it is imperative not to lose sight of the broader trends influencing industries. At LatentView, we navigate this terrain with finesse. While we maintain a steadfast focus on technology, mathematics, and business intricacies, we also stay attuned to macro shifts and emerging market dynamics. This multifaceted perspective equips both us and our clients with the competitive edge needed to stay ahead of the curve.

We will continue pushing the boundaries of what’s possible with data analytics, unlocking new opportunities, driving innovation, and empowering businesses to achieve their goals with confidence. Because when it comes to making decisions that matter, actionable insights are the key to success.

We deeply value the indispensable role of individuals as the driving force behind innovation within organizations. We recognise that our team members are not just a cohesive unit propelling growth and

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Inside the document

01 Strategic Review

01 Company Overview 21 Founders’ Address
23 Letter to Shareholders
25 Management Quotes 26 Performance Review

30 Success Stories

35 Investment Case

36 Growth Strategies
37 Sustainability at LatentView
39 Our People Philosophy
43 Corporate Social Responsibility
45 Corporate Governance
48 Management Discussion & Analysis
59 Statutory Reports 59 Corporate Information
60 Board’s Report
107 Corporate Governance Report
130 Financial Statements 130 Consolidated Financial Statement 189 Standalone Financial Statement
253 Notice to the AGM

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HELPING UK’S
LEADING ICE
CREAM BRAND
renovate itself
to consumer
preferences 32
Potential Cost
savings of ~USD
1 million
a year for the
largest media
retailer
33
POWERING
~2 MILLION
DEVICES AND
increasing their
lifespan by ~1
year
31
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POWERING
~2 MILLION
DEVICES AND
increasing their
lifespan by ~1
year
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Forward looking statement

In this Annual Report, we present forward-looking statements to help investors understand our future prospects and make informed decisions. This report and other statements done periodically, whether written or verbal, reflect our management’s expectations and assumptions about future events. We use terms like ‘anticipate,’ ‘estimate’, ‘expect’, ‘project’, ‘intend’, ‘plan’, and ‘believe’ or similar ones to signal these forward-looking statements. Despite our efforts to base these statements on reasonable assumptions, we cannot assure that they will materialise. The actual outcomes may differ significantly due to various risks, uncertainties, and incorrect assumptions. Therefore, investors should be cautious and consider these factors. We are not obligated to update any forward-looking statements in response to new information, future events, or otherwise.

Click here to view more on our website

Company Overview > About us

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1
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Strategic Review Company Overview

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About us
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Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Empowering businesses with data analytics

As a global leader in data analytics, we empower businesses to thrive in the digital realm through strategic data utilisation. Our comprehensive solutions offer a detailed understanding of the digital consumer, enabling businesses to transform existing models or inspire new revenue streams through predictive and prescriptive analytics, customer insights, trend forecasts, risk evaluation, optimisation, and simulation.

Our reputation as a trusted partner is backed by our extensive clientele, which includes over 30+ Fortune 500 companies across sectors such as Retail, Consumer, Finance, Technology, and Healthcare. With a team of 1,280 dedicated professionals, we operate from offices in Princeton, San Jose, Seattle, Amsterdam, Munich, London, Singapore, Chennai, and Bengaluru. This global presence ensures our ability to deliver exceptional value to enterprises worldwide, helping them navigate and succeed in the complex digital landscape.

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Comprehensive Domain Global
solutions expertise delivery
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Our global delivery centres in Chennai and Bengaluru serve as the operational backbone of our business, while our on-site go-to-market teams and subsidiaries in the US, Netherlands, Germany, UK, and Singapore, provide dedicated support and maintain close proximity to our clients in key markets.

With deep expertise in sectors like Technology, Industrials, Consumer Packaged Goods (CPG), Retail, and Financial Services, we consistently drive data-driven innovations and deliver consulting-led solutions that yield tangible outcomes.

Featuring extensive capabilities such as business consulting services, data engineering, business analytics, Generative AI readiness, and digital solutions across:

Marketing analytics Customer analytics HR analytics Supply chain analytics Finance & Risk analytics

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Enhanced capabilities
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Acquired Decision Point , adding capabilities in revenue growth management in the CPG (Consumer Packaged Goods) space, a strong Gen-AIbased and advanced analytics solution for consumption of analytics and insight, with presence in the North America, LATAM, Europe and Africa region.

To know more on our DP acquisition, click here.

LatentView Analytics Annual Report 2023-2024

Company Overview > Key facts and figures

1. Strategic Review Company Overview

About us

Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

1[st] Pure-play data analytics Company Listed on BSE and NSE - went public in 2021

6Global subsidiaries Across 4 continents (US, Europe, APAC and LATAM)

10Countries LatentView offices across 10 countries representing our global footprint

*As on March 31, 2024

₹ mn 104,548 Market capitalization*

18+Years

Of transforming businesses to excel in a data-driven world

30+

Fortune 500 clients enabled

130Impactful solutions Delivered in FY24

61+Global blue chip brands

Part of our valuable clientele

90%Of the clients 1,280Analytical minds Indicating that they are either Which bring a unique combination satisfied or very satisfied with our of business, math, and technology partnership with a recommendation score of 8 (out of 10)

Data speaks louder than words

Company Overview > Vision, mission and values

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3
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Strategic Review

Company Overview

A business with a purpose

About us Key facts and figures

Vision, mission and values

Milestones in the journey

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis 2. Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Mission statement

Help clients win by creating holistic and sustainable impact powered by data Become a talent magnet by empowering employees through a culture of fun, collaboration and learning Drive excellence through thought leadership by ingraining innovation and insight into our DNA

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Cultural values Vision statement We live by a simple rule - at LatentView, people come first, along with: Inspire and transform businesses to excel in Happiness the digital world by Trust harnessing the power of Autonomy data and analytics Diversity & inclusion Equity, equality and collaboration

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LatentView Analytics Annual Report 2023-2024

Company Overview > Milestones in the journey

1. Strategic Review Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Moments to cherish on the way

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2006
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2009
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Marked our presence with the first appearance on the ‘Deloitte Fast 50’

Founded by Venkat

& Pramad 2007 Established presence in the United States through material subsidiary 2013 2010

Over the last 18 years, we have transformed into a globally significant data analytics partner for some of the largest brands worldwide.

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2017 2013 2010
• Secured ‘Analytics Solution Provider • Set up a new global Commenced business
of the Year’ by Frost & Sullivan delivery centre in Chennai relationship with our first
• Inaugurated a global delivery US client - Microsoft
2016 • Established presence in
centre in Bengaluru Featured in Europe ‘Technology Fast 500 • Gopi K Appointed as CEO
2018 Asia Pacific’ by Deloitte 2023 2022 • Focussed on Value
Awarded ‘AI Game Changer proposition-driven
Award’ by NASSCOM • Launched ‘ConnectedView’ business solutions
supply chain value proposition • Launched GenAI
2021 • Set up the LatentView Advisory solution
Council
2019 • Successfully completed our IPO with • Crossed the 1,000 team
• Positioned as ‘Strong Performers’ a record 338X oversubscription from 2024 strength mark
in The Forrester Wave: Customer investors, making history as the first pureAcquired
Analytics Services Providers play analytics Company in India to get Decision
listed
• Rajan S. Appointed as the CEO Point

Strategic Review Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition

Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Decision Point has a global presence, with operations in North America, Latin America, and Europe. They have developed innovative analytics tools on the cloud and manage MLOps across Azure, AWS, and Google Cloud. The company has also established product development teams for solutions like Beagle, Fable, and their RGM platform.

Company Overview > DP acquisition

Strategic leap in GenAI & CPG analytics with DP acquisition

Atlanta

About Decision Point (DP)

Mexico

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Delhi

Decision Point is a leading analytics service provider specializing in IP-led data analytics and digital transformation services. The company has a proven track record of delivering business impact at scale for some of the largest brands in the consumer space. Decision Point offers turn-key delivery across the data value chain, transforming data assets into actionable business insights.

Santiago

map not to scale only for illustration purpose

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Revenue Growth Retail ●Data Advanced
DP 1 Management (RGM) 2 Execution Analytics 3 Democratization 4 Diagnostics
Leveraging cross-functional Enabling CPG companies Harmonizing data from Providing capabilities
analytics to identify growth to optimize in-store multiple sources and delivering around pricing and
capabilities
opportunities and investments through automated, industrialized promotions that engage
institutionalize data data-driven retail analytics to end users. C-suite executives.
include science solutions. execution.
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LatentView Analytics Annual Report 2023-2024

Company Overview > DP acquisition (continued)

Potential Synergies of the DP Acquisition

Strategic Review Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey

The acquisition of Decision Point by LatentView Analytics is expected to create significant synergies, enhancing both companies’ capabilities and market reach. Key synergies include:

Global presence DP acquisition synergies, enhancing both companies’ capabilities and market reach. Key synergies include: Our team Key numbers Solutions and services AnalAdvisorytics offeriny council gs Enhanced Expansion of Increased Complementary Cultural and Financial Industry offerings Revenue Growth Generative AI Market Expertise and Operational Growth and GenAI capabilities Management (RGM) Solutions Reach Solutions Alignment Stability GenAI case studies Founders’ Address Capabilities Letter to Shareholders Management Quotes Decision Point’s expertise Decision Point’s Beagle Decision Point’s established The acquisition brings Both companies share a Decision Point’s impressive Performance Review in RGM, particularly in the product, an NLP-enabled presence in Latin America, together Decision Point’s strong alignment in terms financial performance, will Key performance indicators CPG sector, complements conversational BI tool, along with their growing strengths in supply chain of culture, values, and contribute to LatentView’s OClient servicin Success Stories perating metricsg philosophy capabilities. This will enable LatentView’s existing strategy to enhance their aligns with LatentView’s Europe, will help LatentView footprint in the US and management, R&D innovation, and ConnectedView solutions This alignment is expected operational practices. acquisition is expected to financial growth. The Investment Case the combined entity to Generative AI offerings. expand its market reach. The with LatentView’s capabilities to facilitate a smooth make the CPG vertical the 2[nd] Growth Strategies offer comprehensive RGM Beagle provides real-time combined entity will leverage in data analytics and AI. This integration process and largest revenue contributor Sustainability at LatentView solutions, including pricing, access to relevant data and Decision Point’s client base will enable the combined enhance the efficiency of for LatentView. Our PeoCorCorpporate Social Resorate Governanceple Philosophpyonsibility promotions, and assortment optimization. insights within workplace collaboration platforms, market investments to drive and LatentView’s go-torange of solutions to clients.entity to offer a broader the combined operations. Management Discussion & Analysis making it a valuable addition growth in these regions. to LatentView’s portfolio. Statutory Reports Corporate Informationporate Informationorate Information Board’s Reportportort Business Responsibility and Sustainability Reportponsibility and Sustainability Reportonsibility and Sustainability Reporty and Sustainability Report and Sustainability Reporty Report Reportportort Corporate Governance Report 1 2 3 4 5 6

Statutory Reports Corporate Informationporate Informationorate Information Board’s Reportportort Business Responsibility and Sustainability Reportponsibility and Sustainability Reportonsibility and Sustainability Reporty and Sustainability Report and Sustainability Reporty Report Reportportort Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Outlook

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The acquisition of Decision Point by LatentView Analytics represents a strategic move to enhance its capabilities in revenue growth management, strengthen position in the CPG sector, expand Generative AI offerings, and bolster market reach. The combined entity is well-positioned to deliver comprehensive analytics solutions to clients, driving significant business outcomes and growth in the coming years.

LatentView Analytics Annual Report 2023-2024

Strategic Review Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition

Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics
Annual Report 2023-2024
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Company Overview > Global presence
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Delivering data analytics solutions across the world With presence in 4 regions - US, Europe, LATAM and APAC

Winning the world over Team strength

1,082 198 In India On-site 1:5 Onsite: Offshore team ratio

Global delivery centres Bengaluru | Chennai

Revenue mix

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Company Overview > Our team

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence

Our team

Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Soul of our success

Great Place to Work for 3[rd] Consecutive year - 2023-2024

At LatentView Analytics, our team is the soul behind our success, solving real-world problems and driving meaningful impact through advanced data analytics. We are a collective of brilliant analytical minds who seamlessly blend expertise in business, technology, and mathematics to deliver substantial value to our clients worldwide.

Great Place to Work - India’s Great Mid-size Workplaces 2024

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Our diverse team brings a wealth of knowledge and experience, enabling us to approach problems from multiple vantage points and deliver comprehensive solutions. Whether it’s through predictive analytics, customer insights, trend forecasting, or risk evaluation, our team’s expertise ensures that our clients can make informed, data-driven decisions that drive their success.

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Team strength in India
(in numbers)
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On-site team strength
(in numbers)
FY23 166
FY24 198
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Total team strength (in numbers)

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FY23 1,116
FY24 1,280
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FY23 950
FY24 1,082
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Team strength by function
(in numbers)
74
FY23 1,082969 73
FY24 1,072 78 64
66
Delivery | Sales & Marketing |
Corporate functions | Centre of Excellence
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Team strength by qualification

Onsite:Offshore ratio (in ratio)

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(in numbers)
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15
FY23 1,082676 177 209 39
FY24 790 204 216 49
21
Engineers | Management Graduates |
Post Graduates & PhDs |
Statisticians & Mathematicians | Others
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FY23 1:6
FY24 1:5
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9
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Company Overview > Key numbers

Metrics that matter

₹ mn 6,407 Revenue from Operations

18.9% Y-o-Y Growth in Revenue from Operations

₹ mn 1,360

21.2%

EBITDA

EBITDA margin

₹ mn 1,586

22.2% PAT Margin

PAT

9.1% 3-Y EBITDA CAGR

20.1% 3-Y PAT CAGR

₹ mn 13,744 Shareholders’ funds

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NPS - 37 January 2023 to December 2023

VoC Voice of the Customer

90%

Of the clients say they are either satisfied or very satisfied with our partnership

Recommendation score of 8 (out of 10)

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LatentView Analytics Annual Report 2023-2024

Company Overview > Key numbers (continued)

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10
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Strategic Review

Metrics that matter

Company Overview

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About us Profit After Tax (PAT)
Key facts and figures
Vision, mission and values ₹1,586mn
Milestones in the journey Technology 2.07%
DP acquisition ₹4,551mn Profit Before Tax (PBT)
Global Our teampresence 22.77% ₹1,970mn
Key numbers Total Income 4.01% Tax
Solutions and services ₹7,144mn
Analytics offerings ₹384mn
AdvisorIndustryy offerin council gs 20.15% 13.11%
GenAI capabilities
GenAI case studies
Founders’ Address
Letter to Shareholders
Management Quotes
Performance Review Total Expenses
KeOClient servicinpyeratinperformance indicatorsg metricsg philosophy Industrials ₹5,174mn27.68% Employee Benefits ₹4,339mn
Success Stories ₹812mn 29.08%
Investment Case
Growth Strategies 20.56%
Sustainability at LatentView
Our People Philosophy
Corporate Social Responsibility
Corporate Governance Financial Services
Management Discussion & Analysis
₹489mn
2. Statutory Reports
Corporate Information 6.77%
Board’s Report Selling, General, and
Business Responsibility and Sustainability Report Administrative Expenses
Corporate Governance Report CPG & Retail ₹708mn
₹557mn
3. Financial Statements
22.90%
Consolidated Financial Statement
1.35%
Standalone Financial Statement
Depreciation and
4. Notice to the AGM Amortisation
Other Income ₹97mn
₹737mn
9.60%
32.08%
Finance Cost
₹30mn
LatentView Analytics Y-o-Y growth 15.46%
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LatentView Analytics Annual Report 2023-2024

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1. Strategic Review Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Company Overview > Solutions and services

Human-centric questions. Data-centric answers.

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Consulting

Business intelligence & insights

Leveraging our deep expertise in data
and analytics, we empower businesses to confront their transformation challenges
directly. By synergising AI with your business strategy, our innovative suite of solutions, including business intelligence (BI), data insights, and predictive modelling, drives optimal outcomes, propelling businesses toward sustained success.

Our advanced business analytics solutions are crucial in enhancing business strategies, optimising operations, and enabling intelligent, data-driven decision-making. By leveraging the vast potential of big data, we empower businesses to develop automated solutions and uncover invaluable insights, resulting in sustainable competitive advantages and long-term success.

We specialise in:

We:

Identify challenges and opportunities presented by industry trends

Descriptive and diagnostic analytics

Predictive analytics

Develop an analytics roadmap to effectively address these challenges and opportunities

Prescriptive analytics

Data modernization

Our meticulous data modernization solutions empower businesses to monetise and extract maximum value from their data assets. By establishing a robust data foundation and utilising advanced data mining techniques, we generate actionable insights that drive growth and transformation. Our mission is to overcome critical challenges that prevent businesses from seizing opportunities, enabling them to become data-savvy competitors at scale.

We:

Adopt a business-centric approach

Develop scalable, modern architectures Utilise a diverse partner ecosystem

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Advanced analytics
& AI
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Our cutting-edge digital solutions have transformed business processes, predicted trends, and delivered actionable insights for numerous Fortune 500 companies. By seamlessly integrating these solutions into their operations, clients experience faster product development and reduced time to market (TTM). Additionally, our precise forecasting capabilities enable clients to align their business goals with emerging trends, ensuring a competitive edge in the market.

We assist in:

Predicting consumer trends Forecasting and detecting anomalies Embedding processes

LatentView Analytics Annual Report 2023-2024

Company Overview > Analytics offerings

1. Strategic Review Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers Solutions and services

Analytics offerings

Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Our advanced analytics offerings empower businesses to transform raw data into actionable insights. Leveraging cutting-edge technologies and sophisticated algorithms, we help clients uncover hidden patterns, predict future trends, and make data-driven decisions with confidence. From descriptive analytics that provide a clear picture of their current operations, to predictive analytics that forecast future scenarios, and prescriptive analytics that recommend optimal courses of action, our solutions are designed to meet the unique needs of businesses. With our expertise, clients can enhance operational efficiency, drive customer engagement, and unlock new growth opportunities.

From data to decisions via analytics

Earning global recognitions & accolades

Customer analytics

Customer segmentation • Cross-selling and upselling and behaviour • Loyalty and
• Lifetime value analysis personalisation 1
Supply chain analytics • Sourcing and replenishment • Inventory and network • Metrics measurement optimisation • Demand forecasting 2
Marketing analytics Cutting-edge • Brand and competitive positioning • Campaign design and 3 • Attribution modelling marketing spend optimisation analytics
and personalised marketing offerings
Finance & risk analytics 4 • Portfolio performance • Collection analytics • Counterfeit analysis HR analytics 5 • Employee retention • Talent acquisition • Performance & compensation

Recognised 9 consecutive times in Deloitte Technology Fast 50 Forrester Wave Leader 2023 Custom Analytics Service Providers Great Place to Work - India’s Great Mid-size Workplaces 2024 Identified as one of the Top 50 places to work for Data Scientists by AIM Research

NHRD Hosur - ESG - Winner CSR Impact Award for Education Winner 2023 CSR Box Award

The Minsky Awards: AI for Community Welfare Award 2023 Excellence in Cultivating a Culture of Trust & High Performance Bronze - 2023 to 2024 NHRD Hosur - Employee Engagement Awards - Runner-up Silver Award for Excellence in Rewards and Recognition Strategy by The Economics Times Human Capital Awards India’s Best Workplaces in IT & ITBPM - November 2023 India’s Best workplaces for women - September 2023 Post-Pandemic Workplace of the Year Bronze - 2023 to 2024 Great Place to Work - 2023-2024

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13
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence

Our team Key numbers Solutions and services Analytics offerings

Advisory council

Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Company Overview > Advisory council Driving excellence through industry leaders

Advisory council

Advisory Council Members:

LatentView Analytics has established an Advisory Council composed of industry leaders who bring a wealth of experience and expertise from various sectors. The council’s mission is to guide LatentView and its clients by providing insights and strategic advice that fuel business growth and support delivery. Members of the council work closely with LatentView’s executives to understand market trends, address challenges, and build relevant solutions. This collaboration helps in validating operating plans, enhancing brand awareness, and expanding networks.

Angshuman Rajkhowa MD, Financial Industry Advisory Services, Alvarez & Marsal Ex - RBS | ABN AMRO

Leon Van Haaster

Independent Advisor, LEON ID Ex - UBER FREIGHT | DHL

Raj Menon Board Advisor, RIM Advisory Ex - SUN HYDRAULICS | CUMMINS

Chandrasekhar B Board Member/Advisor Ex - ARAB FINANCIAL SERVICES

Ram Balasubramanian Co-founder, Mantrah Ex - MARRIOTT | US AIRWAYS

Egbert Van Acht Business Growth Advisor, Octo Consilium Ex - PHILIPS | P&G

Sanjay Singh Independent Advisor Ex - QURATE RETAIL GROUP | A&F CO.

Finn Raben Strategic Advisor Ex - ESOMAR | SYNOVATE

A panel of industry leaders

Sean Carney Creative Partner, Group of Humans Ex - PHILIPS | HP

Spearheading the development of new initiatives Validating operating plans Enhancing brand awareness Expanding networks

Jai Kibe

Independent Advisor Ex - SC JOHNSON | COCA-COLA

TV Kumaresh

Chief – Strategy & Corporate Development, M Financial Group Ex - USAA | NATIONWIDE INSURANCE

John Copeland Leader – Global Marketing Analytics and Insights, ServiceNow Ex - ADOBE | EBAY

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Building a strong, diversified council of seasoned industry professionals with 2-3 decade experience including CEOs, C-suite executives across CPG & Retail, Financial services, Industrials, and Technology companies over US$1 billion.

Partnerships

LatentView Analytics accelerates digital transformation for its clients through strategic partnerships with leading technology companies. These partnerships leverage the combined expertise of business software providers, niche technology developers, and platform vendors to deliver tailored, data-driven solutions. This collaborative approach helps lower risks, accelerate go-to-market strategies, and expand market reach. They collaborate to:

●Enhancing competency development

●Crafting joint value propositions and co-selling initiatives
●Prioritising new client acquisitions
●Strengthening partner relationships

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Company Overview > Industry offerings

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14
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence

Our team Key numbers Solutions and services Analytics offerings Advisory council

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Industry offerings
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From insights to impacts

In today’s digital age, data-driven analytics solutions have become indispensable for businesses across various industries. We pride ourselves on our deep domain expertise spanning multiple sectors, empowering businesses to navigate complex challenges and seize opportunities with confidence.

Our team comprises renowned business and analytics experts globally, who specialise in designing and implementing best-in-class practices customised for each industry.

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Technology
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Illustrative list of clients

Leading US-based software player

Leading American mobility as a service provider

Fortune 500 search engine technology player

GenAI capabilities

GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

We have forged strategic partnerships with esteemed clientele across diverse sectors, including Technology, Industrials, Financial Services, Consumer Packaged Goods (CPG) and Retail, Media & Entertainment, and more.

By understanding the unique dynamics and challenges of each industry, we facilitate informed decision-making, predict outcomes, make recommendations that support digital transformation and sustainability, and deliver comprehensive solutions that empower businesses to flourish and achieve superior outcomes.

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Technology
Financial
Industrials
Services
CPG and
Retail
orindustries weserv
j e
a i
m nc
r lu
u d
o
F e
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Industrials

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CPG and
Retail
3
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Financial Services

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US-based home appliance manufacturer European luxury car manufacturer

Leading US-based home appliance manufacturer

Leading US-based convenience retail player US-based cosmetics company Leading beverage and snack manufacturer

Turnkey asset management company American crypto currency exchange platform Global fintech and payment processor

Company Overview > Industry offerings (continued)

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15
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council

Industry offerings

GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

3. Financial Statements Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Technology

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1
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Technology assumes a pivotal role in propelling the digital economy’s expansion, constantly evolving and reshaping global business landscapes. To navigate these dynamic disruptions, tech-driven enterprises must embrace continual reinvention.

LatentView Analytics seamlessly integrates analytical prowess with technological expertise, offering sustainable solutions that prioritise user experience and expedite our clients’ digital transformation journey. Since our inception, technology has stood as the cornerstone of our operations, serving as the focal point of our expertise and innovation.

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Key offerings

Unravelling insights from customer data generated by applications and software through customer analytics

Enhancing ROI from marketing campaigns and refining the allocation of marketing budgets through marketing analytics

71.0% Revenue contribution in FY24 vs. 68.9% in FY23

Industrials

In the evolving industrial sector, attaining operational excellence and scalability stands as a key imperative.

Companies within this industry grapple with the dual challenge of modernising legacy systems while upholding technological proficiency, preparing a data architecture and platform for advanced analytics use cases, and using advanced machine learning algorithms to enhance efficiencies in their supply chains, provide advanced mobility solutions, or provide proactive customer care. The Industrials practice at LatentView currently serves customers in Automotive, Food Distribution, Chemicals, Construction and the Oil and Gas industries.

We provide a transformative strategy by amalgamating digital solutions with advanced analytics capabilities. Our customised approaches empower businesses to discern vital performance-driving variables, fostering improvements and charting a course toward a sustainable future. Collaboratively, we navigate the intricacies of this sector, enabling businesses to not only thrive but also fulfil their growth objectives.

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Key offerings

Crafting demand and supply forecasting solutions like multi tier supplier visibility, demand forecasting, inventory control etc.

Implementing predictive maintenance strategies for machines and equipment

Using connected vehicle data for advanced solutions like product feature redesign and warranty costs reduction

Leveraging advanced algorithms to provide proactive customer care, customer and marketing analytics like sales forecasting, multi mix modeling, pricing etc.

Defining the data strategy, architecture and roadmap for digital transformation, and providing data engineering services to enable predictive and prescriptive analytics and dashboarding

12.7% Revenue contribution in FY24 vs. 12.5% in FY23

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LatentView Analytics Annual Report 2023-2024

Company Overview > Industry offerings (continued)

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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council

Industry offerings

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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CPG & Retail

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3
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The CPG & Retail industry has experienced a profound transformation in recent years, with many developments accelerating the pace of change.

To meet evolving consumer demands, companies in these sectors are embracing innovation and adopting new strategies. In this dynamic domain, consumer businesses are achieving exponential growth by expanding their brand portfolios, diversifying product lines, being more consumer centric and optimizing marketing & sales investments. With e-commerce platforms and direct-to-consumer online marketplaces playing pivotal roles, staying ahead of the competition requires actionable insights.

LatentView Analytics’ advanced analytics solutions enable companies to gain a deep understanding of consumer purchasing behaviour. By leveraging these insights, businesses can secure a competitive edge and establish themselves as leaders in their markets.

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Key offerings

Optimizing product assortment, channel strategy, and marketing spend

Drive product innovation and development Assess and optimize pricing & promotions

AI powered rapid experimentation and measurement

8.7% Revenue contribution in FY24 vs. 10.2% in FY23

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4 Financial services
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LatentView Analytics is a trusted partner to leading institutions in the Banking, Financial Services, and Insurance (BFSI) sector, offering a comprehensive range of strategic, technological, and operational analytics solutions.

Our FS industry experts provide comprehensive, integrated analytical solutions to the Banking & Capital Markets, Payments, Insurance, and Investment Management sectors. Our breadth of services and industry view helps us understand client’s unique business needs.

Financial Services being a pillar of societal growth, we leverage our data & AI capabilities coupled with our technological expertise to enhance core business functions for our BFSI clients, by enabling them to make data-driven strategic decisions. We help optimise their intelligent operations to deliver exceptional customer experiences, ensuring they remain at the forefront of an ever-evolving industry landscape. Our value-chain encapsulates Banking, Fin-Tech & Insurance across Sales, Marketing & customer life cycle, Risk & Regulatory compliance Payments & Remittances, Investment & Asset Management, Healthcare Analytics and E2E customer platforms. Coupled with our strong industry partnerships, we leverage engineering & advanced analytics to implement data strategy across front, middle and back office. Our customer solutions and accelerators help institutions understand consumer behaviour, enabling the development of innovative products that meet top-line growth for the Chief Marketing Officer (CMO), Chief Risk Officer (CRO) and the Chief Information & Data Officer (CIO/CDO) through a data-lens.

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Key offerings

Sales & Marketing Analytics: Customer acquisition, retention, segmentation, lead scoring, marketing ROI, Merchant behaviour, MMM, paid media

Risk & Regulatory Compliance: Risk assessment, provisioning, compliance reporting, data governance, fraud detection, anti-financial crimes

Investment Management: Investor experience, advisor 360, regulatory reporting, operational resilience, middle office data strategy

Payments & Remittances: Pricing & promotions, customer loyalty, lead origination, credit and fraud detection, servicing, portfolio management

7.6% Revenue contribution in FY24 vs. 8.5% in FY23

Insurance: Demand forecasting, capacity planning, plan comparisons, claims management, member loyalty, preventive care

LatentView Analytics Annual Report 2023-2024

Company Overview > GenAI capabilities

Strategic Review

Company Overview

GenAI capabilities

GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Unlocking business potential with GenAI accelerators

LatentView’s GenAI practice is designed to help clients achieve responsible growth and development in the field of Generative AI. By fostering engaged conversations and offering market perspectives, LatentView ensures that businesses can effectively leverage the power of Generative AI.

End-to-End AI Workflows with NVIDIA

As an NVIDIA Select partner, LatentView provides its customers with end-to-end AI workflows using the NVIDIA AI Enterprise software stack and the NVIDIA 1 DGX platform. This collaboration allows LatentView to deliver robust enterprise AI solutions, including generative AI, that are optimized for performance and scalability.

Experience with Leading AI Technologies

LatentView boasts extensive experience in developing Generative AI solutions using various platforms such as Databricks DBRX, Azure OpenAI, Mistral, and Custom Copilots. This expertise allows LatentView to deliver high-quality, tailored AI solutions to meet diverse business needs.

Accelerators for Quick Wins and Business Outcomes

The Company’s suite of accelerators, including LASER, InsightsIQ, AI PenPal, MarketLens, and InsightLens, is designed to deliver quick wins and accelerate time to value for business outcomes. These accelerators provide customizable and scalable solutions that address specific business challenges across different domains.

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LatentView Analytics Annual Report 2023-2024

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18 Company Overview > GenAI capabilities (continued)
An overview of LatentView’s GenAI solutions,
1. Strategic Review
Company Overview their descriptions, and applications:
About us
Key facts and figures
Vision, mission and values
Milestones in the journey
DP acquisition
Global presence
Our team
Key numbers 1 2 3 4 5 6 7
Solutions and services
Analytics offerings
Advisory council
Industry offerings
GenAI case studies GenAI capabilities InsightsIQ LASER AI Market Sally Beagle Hubble
Founders’ Address
Letter to ShareholdersManagement Quotes PenPal Lens Chatbot GPT
Performance Review
Key performance indicators
Operating metrics
Client servicing philosophy
Success Stories
Investment Case
Growth Strategies
Sustainability at LatentView Custom GenAI GPT, Azure OpenAI GPT-based GenAI-powered GPT-OpenAI AI-enabled
Our People Philosophy solution OpenAI-based enabled persona builder chatbot for solution for holistic next-
CorCorpporate Social Resorate Governanceponsibility powered enterprise conversational for targeted optimized custom 1:1 gen RGM model
Management Discussion & Analysis by NVIDIA search engine interfaces marketing customer persona- for maximizing
microservices solution for for enhanced campaigns service and specific value creation.
2. Statutory Reports for enhanced efficient customer and customer engagement. insights.
Corporate Information analytics and knowledge engagement. segmentation.
Board’s ReBusiness Resportponsibility and Sustainability Report insights. retrieval.
Corporate Governance Report
3. Financial Statements
Consolidated Financial Statement
Standalone Financial Statement
4. Notice to the AGM Enterprise- Enterprise- Sales & Sales & Enterprise- Enterprise- Enterprise-
wide wide marketing marketing wide wide wide
LatentView Analytics
Annual Report 2023-2024
Solution
Description
Application
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Company Overview > GenAI capabilities (continued)

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19
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings

GenAI capabilities

GenAI case studies

Founders’ Address Letter to Shareholders

Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy

Corporate Social Responsibility

Corporate Governance

Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Enhanced Capabilities through DP Acquisition

LatentView’s recent acquisition of Decision Point further accelerates its Generative AI practice through the integration of the Beagle product. Beagle is a new-age, NLP-enabled conversational BI tool designed to live within workplace collaboration platforms such as MS Teams, Slack, Zoom, and Google Chat. It provides real-time access to relevant data and insights in engaging visual formats.

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Beagle features

1 AI-based Natural Language Conversational Interface: Enables intuitive and interactive data queries.
2 Collaboration through Narrative Boards: Facilitates team collaboration and decision-making.
Dynamic Data Visualization through Insight Cards: Offers visual representations of data for easier interpretation
3 and actionable insights.

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Beagle products
Beagle available on
Beagle Studio
Beagle Application
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With these comprehensive solutions and enhanced capabilities, LatentView is well-positioned to drive significant business outcomes through the responsible and innovative use of Generative AI.

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Company Overview > GenAI case studies

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities

GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

LATENTVIEW’S GENERATIVE AI COLLABORATION Background with world’s leading A global technology leader, sought to enhance its decision-making processes by leveraging GenAI. The primary objective was to build a Minimum Viable Product (MVP) for search engine provider

A global technology leader, sought to enhance its decision-making processes by leveraging GenAI. The primary objective was to build a Minimum Viable Product (MVP) for the Brand Nerve Center, designed for marketers. This project aimed to streamline data access and insights generation, providing a userfriendly, web-based chat interface that is intuitive and aesthetically pleasing.

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Solution
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Impact
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LatentView partnered with the client to develop an AI-powered insights generation tool using Google Cloud Native Services and Tools, such as Vertex AI, Gemini Pro, Codey, and BigQuery.

The integration of GenAI capabilities into the Brand Nerve Center achieved significant operational efficiency including enhanced decision-making, reduced analyst dependence, improved data exploration, and faster onboarding of additional team members.

Challenges Fragmented Knowledge Base Across Multiple Sourced

AI-power Automated Code Generation Enhanced Data Access Eliminating Numerous Documents Interactive UI Enabling Visualizations and Interactivity Enterprise-grade security with Single Sign-On (SSO) and access controls

Limited Data Exploration Because of Restrictive Dashboards

Conclusion

Dependence on Data Analysts Slowing Decision Making

LatentView’s collaboration exemplified the transformative potential of Generative AI in enhancing decision-making processes. By integrating advanced AI capabilities, LatentView helped the client streamline data access, reduce reliance on analysts, and improve overall operational efficiency.

A RAG (Red, Amber, Green) framework ensuring grounded insights and minimal hallucinations. Performance Monitoring Continuous Improvement of the tool.

Long Onboarding Times for New Team Members

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A future-proof architecture designed to adapt to evolving needs and trends.

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21
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Founder’s Address : Growth in a changing world Thriving in a new data-driven paradigm

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The operating environment in FY24 presented both challenges and opportunities. We faced difficulties in winning large discretionary projects but saw substantial interest in generative AI (GenAI) and large language models (LLM). Our partnership with NVIDIA on the generative AI tech stack and the launch of a marketing analytics centre of excellence shall position us well for future growth.

Dear Shareholders,

The global economy has shown remarkable resilience amidst various challenges. Despite inflationary pressures and geopolitical tensions, economic activity has remained largely steady, with major economies maintaining growth. The increasing demand for data analytics and AI-driven solutions continues to drive significant growth in the technology sector. The impact of AI is not just limited to tech but has moved on to more traditional industries at a rapid pace. This unprecedented shift has set the stage for continued expansion in the data analytics market, reflecting these technologies’ critical role in modern business strategies.

A significant highlight of the year was our announced acquisition of Decision Point Private Limited, which brings deep, valuable capabilities in revenue growth management and generative AIbased solutions. This acquisition is expected to drive significant growth in our CPG practice and expand our footprint in LATAM, the US, and Europe. We are excited to welcome the Decision Point leadership & team to the LatentView family and look forward to together delivering best-in-class solutions to our clients.

Moving forward, our strategic focus remains on replicating our success in the US within European markets. Our expansion plans build on our organic growth and consider potential inorganic growth opportunities in Data Engineering, BFSI, and Retail. We are also investing in R&D to innovate in supply chain analytics and on-shelf availability, ensuring our clients can access the most advanced data-driven solutions.

The role of data has never been more crucial. Data analytics is no longer just a tool for improving business operations; it is a strategic asset that drives decision-making and fosters innovation. We are proud to lead this transformation, utilizing state-of-the-art data analytics and innovative methodologies to deliver actionable insights that simplify decision-making for our clients. Our comprehensive solutions empower businesses to navigate complex digital landscapes, enhance customer experiences, and drive sustainable growth.

The year that was

This has been a transformative year, marked by significant achievements and strategic advancements that highlight our commitment to driving value through innovative data analytics. We successfully won eighteen new clients, enhancing our market presence and expanding our service offerings.

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LatentView Analytics Annual Report 2023-2024

Founder’s Address (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Another emerging trend is Explainable AI (XAI), which emphasizes making the decision-making processes of AI systems transparent and comprehensible to humans. As AI algorithms become more complex, understanding how they arrive at specific conclusions is crucial for building trust and ensuring ethical use. XAI helps organizations ensure compliance with regulatory standards, improve accountability and foster greater acceptance of AI-driven decisions within their workforce.

The world that is

The data analytics industry is evolving rapidly, with key trends such as GenAI, Data-as-a-Service (DaaS), AI and ML, predictive and prescriptive analytics, and edge analytics driving growth and business value. At LatentView, we are aligning our strategies with these trends, ensuring that our clients benefit from the latest advancements in data analytics. People are curious about their future. So are businesses. They wish to predict the future to be ready for it.

The bottom line is that the growing significance of data analytics in driving business success cannot be overstated. Our work at LatentView is crucial in helping businesses transform data into actionable insights, enabling them to optimize operations, enhance customer experiences, and achieve strategic goals.

Predictive analytics uses historical data to forecast future events, trends, and behaviors, enabling businesses to anticipate changes and adapt proactively. This approach is crucial for various applications, from sales forecasting to risk management, helping companies stay ahead of market trends and customer needs. Prescriptive analytics goes a step further by predicting outcomes and recommending actions to achieve desired results. By integrating these advanced analytics, businesses can optimize decision-making processes, reduce risks, and enhance operational efficiency.

The future that will be

We are excited about the potential these technologies hold. We will strive to make the most of these changes and remain steadfast in our commitment to help our customers transform their businesses and stay relevant in their chosen markets.

In that aspect, AI and ML are revolutionizing data analytics by automating complex data processing tasks and uncovering patterns in large datasets that are beyond human capability. AI and ML are being integrated into various business functions, from customer service to supply chain management, driving innovation and improving efficiency across industries.

The integration of Decision Point is expected to accelerate growth in our CPG practice, and we anticipate strong performance from our partnerships and new client acquisitions.

“

Explainable AI (XAI) Another emerging trend is Explainable Al (XAl), which emphasizes making the decisionmaking processes of Al systems transparent and comprehensible to humans.

We extend our heartfelt gratitude to our shareholders, clients, partners, and employees for their untiring support and trust. Your belief in our vision and commitment to excellence has been instrumental in our success. We are proud of what we have achieved together and excited about the opportunities that lie ahead.

With warm regards,

Pramad and Venkat Founders

LatentView Analytics Annual Report 2023-2024

Letter to Shareholders

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address

Letter to Shareholders

Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Strategic efforts. Promising future.

Solutions provider

Dear Shareholders,

While pursuing inorganic growth, LatentView itself is transitioning from a data analytics service provider to a data analytics solutions provider. This strategic shift focuses on creating ready-to-fit solutions for many targeted sub-verticals within our current industry offerings, that facilitate deeper engagements, reduce delivery efforts, and serve as conversation starters rather than standalone products.

It is with great pleasure and optimism that I present to you our performance for FY24. Over the past year, LatentView Analytics has made significant strides, demonstrating confidence, innovation, and a dogged dedication to delivering value to our clients, stakeholders, and employees. Despite the challenging macroeconomic environment, we have moved forward with bold decisions and an adaptive approach.

Our approach involves developing assets, accelerators, and solutions that we use internally to execute our work. We have at least two dozen solutions including ‘ConnectedView’ and ‘Smart Innovation’, along with a suite of AI solutions like ‘AI Penpal’ and ‘LASER’. These solutions are designed to enhance our service offerings rather than being sold as distinct products.

Financial performance

Our financial performance this year has been robust. We achieved a growth of about 19% in Revenue from Operations, amounting to ₹6,407 million, and an EBITDA of ₹1,360 million, with an EBITDA margin of 21.2%. Our EBITDA margins witnessed a compression on account of us being in an investment phase. Our profit after tax (PAT) stood at ₹1,586 million, reflecting a PAT margin of 22.2%. Our ability to generate strong financial results while continuing to invest in our future remains a key feature in our performance. Looking back, since the IPO, this has been the third straight year that we have posted reasonably strong results despite the market talking about a slowdown and macroeconomic sluggishness.

In this regard, ‘Beagle’ stands out as an exception. It is a standalone solution integrated with the Microsoft tech stack, particularly Microsoft Teams, to facilitate seamless data analytics communication for end-users without requiring deep technical knowledge. We are exploring the potential to evolve some of our solutions into quasi-product models. This involves assessing their marketability and integrating components that can

enhance their applicability and value.

“

Strategic acquisition

The performance aside, one of the most significant milestones this year was the acquisition of Decision Point, a strategic move that enhances our capabilities, especially in the Consumer Packaged Goods (CPG) sector, as Revenue Growth Management is a very important area for pretty much all the consumer packaged goods companies. And today when everybody is talking about generative AI, GPTs and LLMs, this acquisition gives us a very strong leg up in this domain as well.

Overall, our focus remains on building and leveraging solutions that enhance our consulting and implementation services, aiming to drive greater value for our clients while exploring new opportunities for growth and innovation. ”

Moreover, this acquisition is not just about expanding our footprint, which will no doubt happen especially in the LATAM region, but about integrating valuable expertise and innovative solutions that will drive our practice forward. The inclusion of key management from Decision Point will undoubtedly bolster our leadership team and provide fresh perspectives.

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Tactical reorganization

In line with our vision of becoming a comprehensive solutions provider, we have reorganized our technology practice into distinct sub-verticals: B2B Technology (B2B), Consumer Technology (C-Tech), Marketplaces & Retail, and Communication & Devices. This reorganization allows us to offer specialised solutions tailored to the unique needs of our clients in these domains, thereby reinforcing our position as domain experts and trusted partners.

The Communication & Devices sub-vertical takes care of all the telecommunications companies and device manufacturers of our earlier Technology Northwest (US) practice, and the B2B sub-vertical focusses on technology solutions for clients including media and entertainment companies. The C-Tech sub-vertical is dedicated to consumer-facing technology businesses, while the Marketplaces sub-vertical combines our retail practice with marketplace solutions, addressing the evolving needs of e-commerce, e-tailing, and traditional retail clients.

Letter to Shareholders (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence

Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders

Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

With clients & prospective engagements becoming more mature, this internal reorganization has enhanced our ability to understand the domain and its context. This allows us to identify the most relevant trends, recognise the opportunities and challenges they present, and develop the value propositions and solutions needed to address these issues and capitalise on these opportunities.

Talent investment

This domain expertise comes with the right talent. Our commitment to attracting and nurturing top talent remains a cornerstone of our strategy. So, our largest investment has been in the front-end go-to-market team across the US and Europe. In the US, we have shifted towards creating a dedicated sales and business development team. This new team includes hires from various backgrounds, particularly those with experience in sales of analytics services.

In Europe, our recalibration efforts focus on aligning our capacity with our targeted sectors, particularly BFSI and CPG, and ensuring our go-to-market team is equipped with relevant and compelling case studies. In India, we initiated a small ongoing experiment by merging the team with the European team while maintaining capacity. We also continued to strengthen our advisory council with renowned experts in marketing strategy, analytics, and data-driven decision-making.

Technological advancements

Exceptional talent leads to innovation. The pace of technological advancement continues to accelerate, and we are at the forefront of this transformation. Our investments have been focussed on building capabilities, value propositions, and solutions across various horizontal and vertical domains. Key areas include supply chain, data engineering, data science, and consulting capabilities. We have continued to invest in these horizontals.

A significant development has been the launch of a new horizontal in marketing analytics, establishing a Centre of Excellence (COE) to focus on innovative solutions. This new focus aims to elevate our work in the marketing space, addressing specific client challenges with advanced analytics. Additionally, we have introduced the “Smart Innovation” and ‘ConnectedView’ value propositions, targeting supply chain optimisation from demand forecasting to on-shelf availability.

Sustained growth

Technological advancement is reflected in our approach to handling increasingly complex and sophisticated client projects. As these projects grow in complexity, they require the integration of diverse data sets, hypotheses, domain knowledge, and collaboration across multiple parts of our clients’ organizations. This leads to more extensive and intricate initiatives, necessitating significant management efforts and larger, more complex foundational data engineering tasks.

We therefore anticipate larger and more extended Statements of Works (SOWs), moving from typical one-year contracts to engagements lasting 18, 24, or even 36 months. The size and complexity of our teams increase, impacting our billing sizes, chargeability, and utilisation metrics. Larger, more complex deals require more time during the onset, but offer greater certainty & productivity once secured. Pursuing larger, multi-year engagements can reduce the uncertainty around revenue projections and contract renewals, providing a more stable financial outlook.

By focussing on these areas, we aim to enhance our operational efficiency, drive greater value for our clients, and achieve more predictable and sustainable financial outcomes. Along with that, our strategic focus on key sectors, such as BFSI and CPG, and geographical expansion into new markets, is positioning us for sustained growth.

Industry recognitions

Sustained growth has other rewards too. This year, LatentView Analytics has received several significant industry recognitions, highlighting our excellence and impact. We were finalists in the Microsoft Partner Award ecosystem, reaching the top three. This recognition highlights our valuable partnership with Microsoft, our first major client in the United States, and reflects the impactful work we continue to do for them.

We were also honoured as the Partner of the Year by the International Myeloma Foundation, driven by the success and relevance of our contributions. This award is particularly meaningful as it acknowledges our efforts in providing critical resources for myeloma patients, a form of cancer with severe implications.

Once again we were recognised as a Great Place to Work. We were also included in an additional list published by the Great Place to Work Institute. This recognition is a testament to our commitment to creating a supportive and rewarding work environment for our employees.

Established Centre of Excellence

COE aims to elevate our work in the marketing space, addressing specific client challenges with advanced analytics solutions

These recognitions affirm our dedication to excellence, both in our client engagements and within our organizational culture.

Looking ahead

As we look to the future, we are filled with optimism and confidence. The investments we have made have laid a solid foundation for LatentView’s continued growth. We are well-positioned to capitalise on emerging opportunities and navigate the challenges ahead.

We are also keen on realising the synergies from recent acquisitions and maintaining a robust pipeline of inorganic growth opportunities. Our focus on identifying specific trends, problems, and opportunities will guide our value propositions and solutions, reinforcing our position as a leading analytics consulting partner.

Building domain expertise, enhancing horizontal capabilities in data engineering and data sciences, and maintaining our consulting edge will be our priorities. We remain optimistic and bullish about the market, driven by the vast opportunities and the critical work ahead. Shareholders can anticipate continued action and progress in these areas in the coming quarters.

In conclusion, I want to express my heartfelt gratitude to our shareholders for their support and trust. Together, we have achieved remarkable milestones, and I am confident that we are on the right path to achieving even greater success. As we move forward, we will remain agile and adaptable, dedicated to delivering value to our clients, employees, and other stakeholders.

Sincerely,

Rajan Sethuraman Chief Executive Officer

Strategic Review

Company Overview

Founders’ Address

Letter to Shareholders

Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Management Quotes

Top insights impacting end results

“FY24 has been a year of significant expansion and innovation for LatentView Technologies. Our strategic focus on growth has enabled us to extend our market reach and deepen our client relationships. By leveraging advanced analytics, AI, and machine learning, we have developed cutting-edge solutions that address the evolving needs of our clients. The successful integration of Decision Point Private Limited has been a pivotal milestone, enhancing our capabilities in revenue growth management and expanding our presence in new geographies. Our Growth Accelerator programme, tailored to drive digital transformation, has empowered clients to unlock new revenue streams and optimize their operations. Looking ahead, we remain committed to pushing the boundaries of data analytics, generative AI, and other emerging technologies to deliver unparalleled value to our clients and stakeholders. Our growth strategy is firmly rooted in growing our clients and their capabilities.”

FY24 has been a milestone year for LatentView, marked by strong financial performance and strategic expansion. Despite a challenging environment, a client-centric approach has boosted CSAT and NPS scores by over 4 points, reaching 85% and 37, respectively. This has supported strong revenue and profitability while enabling continued investment in growth. Financial management has allowed investments in cutting-edge technologies and strategic acquisitions, such as Decision Point Private Limited, enhancing capabilities in Revenue Growth Management and GenAI, and establishing nearshore operations in Mexico and Chile. Looking ahead, LatentView aims to leverage solutions across its client base to maximize value, with continued investment in Supply Chain, Marketing Analytics, Data Engineering, and Consulting. The Company also has a robust mechanism for evaluating inorganic growth opportunities, balancing internal development with external acquisitions to drive profitable growth and maintain leadership in the data analytics industry.

“LatentView’s client servicing philosophy is built on the pillars of trusted partnerships and tailored solutions. Our recent Voice of Customer (VoC) survey is an apt evidence to our commitment, recording a Net Promoter Score (NPS) of +37. With 90% of our clients expressing satisfaction and a recommendation score of 8 out of 10, it is clear that our dedication to delivering best-in-class service is driving long-term, successful relationships. We are proud of our partnerships with marquee clients, including a 14-year engagement with a US-based global software giant and a 12-year relationship with a multinational e-commerce corporation. Our ability to evolve client relationships, deliver strategic insights, and provide comprehensive solutions ensures we continue to foster growth and explore new geographies. We remain committed to nurturing these relationships and achieving unparalleled client satisfaction.”

Krishnan Venkata Chief Client Officer

Prashant Ramanujan Chief Growth Officer

Rajan Venkatesan Chief Financial Officer

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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators

Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Performance Review > Key performance indicators
Creating long-term value
Revenue from Operations EBITDA & EBITDA margin PAT & PAT margin
(in ₹ million) (in ₹ million and %) (in ₹ million and %)
FY20 3,104 FY20 804 25.9% FY20 728 22.1%
FY21 3,059 FY21 1,046 34.2% FY21 915 28.0%
FY22 4,078 FY22 1,219 29.9% FY22 1,295 30.2%
FY23 5,388 FY23 1,451 26.9% FY23 1,554 26.1%
FY24 6,407 FY24 1,360 21.2% FY24 1,586 22.2%
₹ 6,407mn EBITDA EBITDA margin ₹ 1,360mn PAT PAT margin ₹ 1,586mn
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Performance Review > Key performance indicators

Creating long-term value

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Net Cash Flow from Operations Capital Employed & ROCE
(in ₹ million) (in ₹ million and %)
FY20 630 FY20 3,775 23.8%
FY21 899 FY21 4,871 24.2%
FY22 874 FY22 10,501 15.9%
FY23 974 FY23 12,292 12.7%
FY24 1,154 FY24 14,028 10.3%
₹ 1,154mn Capital Employed ROCE ₹ 14,028mn
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Net Worth & ROE
(in ₹ million and %)
FY20 3,479 23.6%
FY21 4,378 23.3%
FY22 10,063 17.9%
FY23 11,870 14.2%
FY24 13,744 12.4%
Net Worth ROE ₹ 13,744mn
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LatentView Analytics Annual Report 2023-2024

Operating metrics

Strategic Review

Company Overview

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27
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Performance Review > Operating metrics

Creating long-term value

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators

Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Revenue per employee (in ₹ million)

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FY20 5.1
FY21 4.9
FY22 5.5
FY23 5.5
FY24 5.3
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₹ 5.3mn

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Team strength
(in number)
FY20 622
FY21 621
FY22 860
FY23 1,116
FY24 1,280
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1,280
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EBITDA per employee (in ₹ million)

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FY20 1.3
FY21 1.7
FY22 1.6
FY23 1.5
FY24 1.1
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₹ 1.1mn
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Onsite:Offshore (in ratio)

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FY20 1:3.7
FY21 1:5.4
FY22 1:5.8
FY23 1:5.6
FY24 1:5.2
1:5.2
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FY24 performance highlights

Highest-ever Revenue from Operations at ₹6,407 million, an increase of 19% over the previous year. This growth was primarily driven by long-term relationships, despite challenging economic conditions.

Strong cash generation with net cash flow from operations of ₹1,154 million in FY24, an increase of ₹179 million over the previous financial year. Cash reserves stood at ₹1,649 million as of March 31, 2024, providing sufficient liquidity to pursue future strategic growth initiatives.

Net team strength increased by 164 people, during the year, with proportionately higher hiring of on-site team, in line with our go-to-market strategy. Total team count stands at its highest-ever with 1,280 employees.

LatentView Analytics Annual Report 2023-2024

Performance Review > Client servicing philosophy

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Strategic Review

SDE scorecard

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics

Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

811 125 Tot

#DEL L1 Insights

Insights appreciated[1] by our immediate stakeholder or key sponsor

#DEL L2 Insights

L1 Insights

+ Ability to articulate estimated or realised impact[2] of the insight

Tailored solutions, 02 trusted artnershi s p p

#DEL L3 Insights

L2 Insights

+ Action from the client on our insight[3]

Client Partnerships

Service Delivery Excellence (SDE)

IdeaLabs

To further drive continuous innovation, we have established IdeaLabs, a dedicated team focused on specialised research and development. IdeaLabs serves as a support system, fostering and nurturing our ongoing innovation initiatives. Through IdeaLabs, we aim to remain at the forefront of industry advancements, delivering cutting-edge solutions to our clients. This version maintains the original meaning and details while presenting the information in a fresh and distinct manner.

Our extensive experience in service delivery has led to the development of the Service Delivery Excellence (SDE) framework. This framework underscores our commitment to continuous improvement through targeted enhancement studies tailored to specific contexts and client requirements. By leveraging the SDE framework, we ensure that our services are aligned with the evolving needs of our clients, actively engaging in client-driven innovations.

LatentView Analytics takes immense pride in its enduring and valued client partnerships. These relationships have flourished over time due to our unwavering commitment to delivering exceptional results consistently. This dedication has not only earned us repeat business but also enabled us to expand our engagements into new divisions and access new geographical markets.

1email evidence

2additional validation by entity leads 3additional validation by CEO & COO

Performance Review > Client servicing philosophy (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence

Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics

Client servicing philosophy

Partnering for success

Our recent Voice of Customer (VoC) survey recorded a Net Promoter Score (NPS) of +37, with 90% of the clients indicating that they are either satisfied or very satisfied with our partnership, resulting in a recommendation score of 8 (out of 10).

Capability,

Our commitment to delivering best-in-class service forms the foundation of our business growth and the development of strong, lasting client relationships. Here are some of our key long-term engagements with marquee clients:

lement ability d to long- ing client ationships	14 years US-based global software giant	12 years Multinational e-Commerce Corporation	9 years Global internet digital marketing & search engine giant	7 years Leading global payment card services corporation	9 years Average age of relationship with Top 5 clients

Evolving client relationships, delivering new opportunities for growth, and access to new geographies

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Pilot/short Business Strategic Advanced term consulting Fixed fee Long-term Intelligence & insights analytics and engagements & duration managed visualisation & thought predictive & proof of projects services services leadership concepts Nurturing growth by deepening existing relationships Revenue Mix (in %) Clients Over ₹100 mn to ₹50 mn to Under Over ₹500 mn₹500 mn500 mn 39 serviced ₹500 mn ₹500 mn ₹100 mn ₹50 mn ₹100 mn to ₹500 mn100 mn to ₹500 mn₹500 mn500 mn 31 ₹50 mn to ₹100 mn50 mn to ₹100 mn₹100 mn100 mn 18 60 2 8 12 38 FY23 FY23 FY23 FY23 FY23 Under ₹50 mn₹50 mn50 mn 12 61 3 11 8 39 Over ₹100 mn to ₹500 mn₹500 mn₹100 mn to ₹500 mn₹500 mn100 mn to ₹500 mn₹500 mn₹500 mn₹500 mn500 mn₹500 mn₹500 mn500 mn 5228 FY24 FY24 FY24 FY24 FY24

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Revenue Mix (in %)
Over ₹500 mn₹500 mn500 mn 39
₹100 mn to ₹500 mn100 mn to ₹500 mn₹500 mn500 mn 31
₹50 mn to ₹100 mn50 mn to ₹100 mn₹100 mn100 mn 18 Demonstrated
Under ₹50 mn₹50 mn50 mn 12 success in
acquiring and
Over ₹100 mn to ₹500 mn₹500 mn₹100 mn to ₹500 mn₹500 mn100 mn to ₹500 mn₹500 mn₹500 mn₹500 mn500 mn₹500 mn₹500 mn500 mn 285228 expanding client partnerships
₹50 mn to ₹100 mn 10
Under ₹50 mn 10
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1. 2. 3. 4.	30 Strategic Review Company Overview About us Keyfacts and fgures Vision,mission and values Milestones in thejourney DP acquisition Globalpresence Our team Keynumbers Solutions and services Analytics offerings Advisorycouncil Industryofferings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operatingmetrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis Statutory Reports Corporate Information Board’s Report Business Responsibilityand SustainabilityReport Corporate Governance Report Financial Statements Consolidated Financial Statement Standalone Financial Statement Notice to the AGM	Success 1 3 4 2	Stories Powering ~2 million devices and increasing their average life span by ~1 year for a global technology Company Helping UK’s leading ice cream brand renovate itself to consumer preferences, and maintain its leadership position Potential cost savings of ~USD 1 million a year, and reducing the migration time by 75% for the largest media retailer LatentView’s partnership with a non- proft organization to improve life of cancer patients	Transformative triumphs L e v er a gi n g d at a a n d a n al yt ic s t o s ol v e c o m pl e x a n d f u z z y pr o bl e m s	Transformative triumphs L e v er a gi n g d at a a n d a n al yt ic s t o s ol v e c o m pl e x a n d f u z z y pr o bl e m s
	LatentView Analytics
	Annual Report 2023-2024

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence

Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

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31
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Success Stories (continued)

POWERING ~2 MILLION DEVICES AND INCREASING their average life span by ~1 year for a global technology company

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Problem
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The client faced a significant challenge: how to utilise real-time device data to help users better understand and optimize their device’s performance through natural language interactions. They needed a solution that could provide both proactive and reactive feedback mechanisms,

guiding users in maintaining optimal system performance and extending the lifespan of their devices.

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Solution
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Our team developed a cutting-edge Large Language Model (LLM) powered chatbot application. This GenAI Bot was designed to be easily deployed across all client laptops and desktops, supporting multi-modal user inputs for a seamless and intuitive user experience.

The GenAI Bot leverages real-time device data to provide users with actionable insights and personalised recommendations. Whether users are seeking immediate assistance or proactive guidance, the GenAI Bot is equipped to handle both scenarios effectively. This AIdriven solution enables users to interact with their devices in a natural, conversational manner, making it easier for them to optimize performance and address potential issues before they escalate.

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Positive Impact
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The implementation of the GenAI Bot has been transformative. Currently powering approximately 2 million devices, the GenAI Bot has significantly increased the average lifespan of these devices by about one year. By providing users with tailored guidance on optimal system usage, the GenAI Bot helps prevent common issues and promotes better maintenance practices.

~1 year Increase in lifespan of devices

Success Stories (continued)

Strategic Review Company Overview

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

HELPING UK’S LEADING ICE CREAM BRAND renovate itself to consumer preferences, and maintain its leadership position

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Problem

Our partners were facing significant ~~challenges in determining renovation~~ opportunities for their leading ice cream brand. Traditional methods to understand consumer preferences and the underlying drivers were costly and time-consuming. Additionally, the available data points for their classic product were insufficient for comprehensive analysis, making it difficult to pinpoint the factors influencing consumer opinions and preferences.

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Solution
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We deployed a systematic four-step ~~approach to tackle this challenge.~~

Discover consumer preferences: Utilised extensive data sources, including e-commerce platforms, review sites, and social media, to gather over 22,000+ data points covering various aspects of consumer preferences.
Understand underlying drivers: Employed Natural Language Processing (NLP) to analyse and categorise consumer feedback into actionable insights.
Identify opportunity spaces: Conducted volume vs. growth analysis to identify trending flavours and

preferences, focussing on factors like low-calorie options and flavours with health benefits.

Identify top product factors: Developed a rank-ordered list of key factors impacting consumer opinions, such as chocolate, taste, texture, flavour, and size.

Positive Impact

LatentView’s data-driven approach yielded ~~precise~~ insights, enabling the company to make informed decisions. They identified ‘fig’ as a trending flavour, and low calorie, Vitamin C, and unique taste as the liking factors, with high growth potential, leading to the introduction of innovative flavours that catered to health-conscious consumers. This strategic move enhanced consumer satisfaction and brand loyalty.

By improving transparency through better product labelling and including E-names instead of series/ numbers, the company boosted consumer trust. The insights also facilitated the introduction of mini-size options and recyclable packaging, addressing consumer preferences for convenience and sustainability.

As a result, the company reinforced its superior market position, driving a significant increase in sales volume and market share.

Success Stories (continued)

Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes Performance Review

POTENTIAL COST SAVINGS OF ~USD 1 MILLION A YEAR, and reducing the migration time by 75% for the largest media retailer

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Problem

The media retailer faced a significant issue with the high operational costs of maintaining their data on an ageing on-premises Teradata system. As the volume of data grew, so did the complexity and expense of managing it, making it increasingly clear that a more efficient and cost-effective solution was needed.

Solution

In response to this challenge, our team at LatentView Analytics developed MigrateMate, a precise and robust data acceleration tool. MigrateMate was designed to facilitate seamless migration of data from the legacy Teradata system to the cloud. This tool

includes automated components for data discovery, object creation, and validation, ensuring a smooth and efficient migration process.

MigrateMate has capabilities that go beyond simple data transfer. The tool’s automated data discovery feature identifies and categorises data across the legacy system, while the object creation component re-structures the data to fit the cloud environment. Finally, the validation component ensures the integrity and accuracy of the migrated data, providing the client with confidence in their new cloud-based system.

Positive Impact

The implementation of MigrateMate has been transformative for the media retailer. By reducing the migration time by 75%, MigrateMate has enabled the client to transition to the cloud swiftly and efficiently. This transition has not only streamlined their data management processes but has also resulted in potential cost savings of approximately USD 1 million over the course of a year.

million ~$1 Cost savings

Success Stories (continued)

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34
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1. Strategic Review Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

LATENTVIEW’S PARTNERSHIP WITH A NON-PROFIT Mission Improving the quality of life of organization to improve life myeloma cancer patients while working toward prevention and cure. Challenges of cancer patients

The non-profit organization needed an AIpowered knowledge platform to provide a customized 360-degree view of patients

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Approach
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The platform needed to serve as a digital touchpoint and help the client’s team make improved medical decisions

LatentView collaborated with the non-profit organization and AWS on a D2E workshop to understand the need and create a phased MVP plan: Patient 360 with ML model Content recommendation

Quantitative results LatentView collaboration was guided by a phased approach strategy with the primary objective of attaining a minimum viable product (MVP). Upon the successful culmination of the initial MVP phase, the partnership effectively facilitated the establishment of diverse donation conduits. These donations were subsequently allocated as supplementary funding to support the foundation’s ensuring phase of operation.

Strong data infrastructure to build a dashboard and enable a voice chatbot Set up a data infrastructure using AWS tools for data storage, analysis, and data flow from Salesforce & other available data sources.

Solution Overview

LatentView partnered with the client to create an AI-powered knowledge platform

Created a consolidated Patient 360 profile for future machine learning recommendations and analysis. Built a Patient Assist Portal for easy access to patient history, procedural documents, and customization options for InfoLine team members.

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Awards & Recognition
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The platform includes a data infrastructure, 360-degree patient profile, Patient Assist Portal, and single sign-on capability with a digital chat interface

LatentView’s work with the client has come in for a lot of recognition from the clients themselves

Suggested beneficial tools like PowerBi for visualization based on the client’s needs and usage.

Won the Minsky award in the year 2023

Adding more Dashboarding insight on donations and the funnel analytics over YouTube/bing Ads. Enabled single sign-on and integrated a digital chat interface with AI technology to augment the reach and effectiveness of the InfoLine team.

“Partner of the Year,” on 18[th] April 2024

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Investment Case

Strong leadership. Robust financials.

Strategic Review Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey Robust financials. DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Tailored solutions Unparalleled Letter to Shareholders and innovative expertise and Management Quotes Performance Review breakthroughs comprehensive KeOpyeratinperformance indicatorsg metrics for a unique high-potential Client servicing philosophy competitive edge offerings Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Sustainable Corporate Social Responsibility CorManagement Discussion & Analysisporate Governance competitive 2. Statutory Reports strengths Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report Long-lasting client Strong leadership, 3. Financial Statements relationships driven go-to-market team Consolidated Financial Statement by exceptional and outstanding Standalone Financial Statement execution delivery capabilities
Notice to the AGM

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Investment rationale

Robust financial Strong business fundamentals model

Cash and investments

Engagement with top companies

₹12,744 million as of March 31, 2024, to fund future strategic growth initiatives

30+ Fortune 500 clients and many other blue chip companies

Superior profitability profile

Technologically advanced and digitally native

26% 3Y Average EBITDA margin 26% 3Y Average PAT margin

A unique combination of Math + Technology + Business competence

Sustainable and profitable growth Profitable, double-digit growth 28% 3Y Revenue CAGR 20% 3Y PAT CAGR

Focus on creating business impact Delivered 130 impactful solutions in FY24, generating measurable results for clients

LatentView Analytics Annual Report 2023-2024

Growth Strategies

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Strengthen. Innovate. Expand.

Our growth strategies are designed to solidify our leadership in the analytics market by strengthening our core competencies, innovating for better solutions, and expanding our global footprint.

Some key growth strategies include:

Build Strengthen functional position expertise with through select focus on BFSI inorganic & Retail opportunities

Build technical expertise with focus on Data Engineering

Expand Europe and APAC presence

Leverage our Continuous supply chain evolution of expertise and ‘Analytics solution Thought Partner’

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Focus on building and Focus on developing and Pilot projects with existing Focus on developing new Seek to swiftly access
evolving Marketing launching new solutions in and potential clients to gain solutions in Fraud analytics cutting-edge technologies
analytics as a core offering Migration (Product Migrate access to new geographies & Insurance analytics and cultivate greater
Mate) and Data activation expertise in fields such as
Strengthen discovery Continued presence in Focussed on potential
(Data Tray) AI and ML
engagements to improve these geographies through opportunities in BFSI
our presence as Leveraging technology subsidiaries driven by & Retail verticals to Provide us with access
thought leader and cloud partnerships to market opportunities and strengthen domain to novel geographies,
co-build solutions client referrals capabilities industries, and clientele
Build a strong advisor
network of domain and Capability building through To grow client base by Strategic hires of personnel Enable us to identify
technological experts industry best certification focussing on industry with extensive experience synergies to seamlessly
courses and programmes leaders and leveraging in industry verticals to drive integrate operations,
existing client relationships go-to-market strategy culture, and data
engineering capabilities
2 3 4 5 6
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Enhance end-to-end service line offerings using partnership channels (Microsoft, Snowflake, Databricks)

Evolve ConnectedView solution for Retail and Hi-tech Industry

Synergetic with existing operations and complement data engineering, data science and BI capabilities

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1
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LatentView Analytics Annual Report 2023-2024

Sustainability at LatentView

Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

For the second year running, we continued to share our impact report and BRSR as a step forward in institutionalising and communicating our sustainability worldview which we had since inception. We also won several accolades for our sustainable practices.

We strongly believe that sustainability and ESG (Environmental, Social, and Governance) principles are not only vital for the well-being of our planet and people but are also essential for long-term prosperity and business success.

Key

highlights

GPTW CSR Box Winner NHRD Great Place to Work Award Hosur - ESG 2024-2025

At LatentView Analytics, we embrace ‘A Sustainable WorldView’, recognising the intrinsic connection between environmental stewardship, social responsibility, effective governance, and economic performance in driving meaningful change. We understand that our actions as an organization have far-reaching impacts, and we are committed to driving positive change through our business practices.

Winner AI GPTW CSR Impact Award for The Minsky Awards: AI for India’s Great Mid-size Education Winner 2023 Community Welfare Award 2023 Workplaces 2024

We hope to never lose our human touch, which is becoming increasingly necessary in today’s world. As long as we navigate this journey with these important aspects in mind, we are confident in our ability to create a lasting impact in the hearts and minds of our people and society at large. For us at LatentView, this commitment is non-negotiable.

Bronze Top 50 Excellence in Cultivating a Culture of Trust & Identified as one of the Top 50 places to High Performance Bronze 2023 to 2024 work for Data Scientists by AIM Research

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Our path to lasting impact

Sustainability at LatentView (continued)

38 1. Strategic Review Key highlights Sustainability at LatentView Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey Environmental protection DP acquisition 100% CDP Score “B” Phased-out Bronze We are dedicated to minimising our carbon and energy footprint through Global Our teampresence targeted initiatives. Our efforts include increasing the use of renewable energy, Of lighting Climate Disclosure Project R22 In our first Key numbers enhancing energy and water efficiency, implementing effective waste management systems (CDP) score upgraded from From our operations disclosure Solutions and services practices, including e-waste recycling, adopting green building standards, embracing converted to “C” to a “B”. Our score “B” is and shifted to to EcoVadis AnalAdvisorytics offeriny council gs green technologies, and fostering a culture of innovation that drives sustainable processes and services. LEDs, from CFLs higher than the Asia regional average of “C” and higher than refirgerants with lower assesment IndustrGenAI cay offerinpabilitiesgs the specialized professional Global Warming Potential (GWP) GenAI case studies services sector average of “C” Founders’ Address 1 Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Employees Community Client servicing philosophy Social responsibility Success Stories We are committed to nurturing our employees and empowering 100,000+ 36% 57% 8 8 Investment Case communities. For our employees, we promote diversity, equality, and fairness through Learning hours Diversity ratio achieved Of the total Partnerships Projects initiated Growth StrategiesOur PeoCorporate Social Resple PhilosoSustainability at LatentViewphpyonsibility transparent policies governing employment terms, training, learning and development, and performance management. We strive to create an inclusive work environment that values and respects the unique contributions of each individual spent 7.9 94% economic value generated with NGOs 41,000+ ₹22.07mn Corporate Governance Our dedication to community upliftment aims to create a positive societal impact. Employee Training given to was spent Beneficiaries Invested in our Management Discussion & Analysis Through robust monitoring and evaluation mechanisms, we ensure the effective engagement employees and workers on employee CSR programmes 2. Statutory Reports implementation of Corporate Social Responsibility (CSR) programmes, addressing score achieved on skill upgradation benefits Corporate Information 2 societal needs and contributing to the well-being of communities. Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report 3. Financial StatementsConsolidated Financial Statement Governance matters Standalone Financial Statement We are dedicated to maintaining robust governance practices and 100% 100% No 4. Notice to the AGM principles. Our diverse and highly qualified Board of Directors oversees our Overall attendance Overall attendance at Compliance issues Sustainability and ESG initiatives, ensuring that we operate with integrity, transparency, at the Board the Board Committee or conflict of and accountability. Ethical business practices and strong governance are crucial in meeting meetings interest issues fostering sustainability and creating long-term value for all stakeholders.

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LatentView Analytics Annual Report 2023-2024

Additionally, we have implemented a comprehensive data protection and cyber security policy that includes stringent measures to safeguard data integrity, comprehensive mitigation strategies, and robust internal controls. 3

Strategic Review

Company Overview

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39
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Our People Philosophy

Nurturing a Culture of Excellence

We take immense pride in fostering an environment that empowers our team members to thrive. Our diverse team comprises some of the brightest minds from prestigious universities, organizations, and industries worldwide, bringing together a unique blend of analytical and creative thinking.

This culture of excellence encourages individuals to pursue personal growth while making a positive impact on the Company. As a result, our team combines technical expertise and business acumen, driving tangible outcomes and resolving complex challenges for our esteemed clients.

The heart A culture of LatentView that nurtures learning and growth

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

To foster employee growth and enhance retention within our organization, we are committed to unlocking their full potential through comprehensive learning and development initiatives, coupled with a performance-oriented culture. We diligently provide our employees with diverse learning opportunities, empowering them to choose their areas of interest and motivating them to apply their acquired knowledge and skills in real-world scenarios. Four key features of our learning philosophy and strategy:

Success Stories Investment Case

Growth Strategies Sustainability at LatentView

Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

True mastery is achieved through learning, experimenting, and sharing knowledge

We give our people the freedom to choose their own Learning and Development (L&D) programmes

Our blended learning model accelerates productivity

Employee-initiated learning programmes are an essential part of our approach

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Our People Philosophy (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies

Sustainability at LatentView

Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Learning & development initiatives

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STEP

Last year, we launched the Stride Towards Excellence Programme (STEP), a prestigious two-year immersive initiative in analytics consulting. This programme is designed to nurture the next generation of leaders and continuously build a cadre of business executives for our expanding enterprise. It aims to attract top talent from esteemed business schools in India, requiring a minimum of two years of professional work experience. Additionally, it welcomes existing employees who demonstrate exceptional leadership potential within their current roles and have accumulated four to six years of work experience.

At the end of this two-year programme, participants will:

Seeing the success, we continued the programme this year with the following results:

Become trusted analytics consulting partners for our clients

STEP Cohort 1

Develop skills to solve complex problems
Participants onboarded: 19 2. Individuals completing three stints and currently in their final stint: 5
Training programmes completed:
Enhance critical and creative thinking abilities
Master client and account management
Communicating and Listening
Emerge as thought leaders driving excellence
Strategic Acumen for Emerging Leaders
Design Thinking for Emerging Leaders
Build business and domain expertise
Personal Branding and Emotional Intelligence
Innovate and build points-of-view which cater to new market dynamics
- Building Effective Relationships
- Strategic Thinking
- Conflict Resolution
Cultivate a sales and growth mindset
Network and establish strong business relationships

STEP Cohort 2

Formulate go-to-market strategies for new work streams and industries
Participants onboarded: 20 2. Individuals pursuing their first stint: 19 3. Training programs completed:
Drive personal and organizational excellence
Strategic Thinking
Conflict Resolution
Adapt to evolving technological landscapes
Become effective managers who nurture and motivate teams

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2 Bootcamp
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Another initiative we have designed is the Bootcamp. Here, our campus hires participate in an intensive bootcamp programme lasting 6 to 9 weeks. This bootcamp employs a blended learning approach, combining live instructor-led sessions, projects, assignments, and assessments.

Data Analytics Bootcamp

The training modules include

Soft Skills Training (Campus to Corporate): Equips hires with essential professional skills

Freshers undergo a 6-week intensive programme featuring:

Business Analytics with Excel
Business Problem Solving: Develops critical thinking and problem-solving abilities Visual Storytelling: Enhances communication through data visualisation
SQL
Python
Data Science with Python
Machine Learning
Visualisation with Tableau
Industry Expert Connect: Provides insights from industry professionals
LatentView SME Connect: Engages with subject matter experts for each module Email Etiquette Session

Data Engineering Bootcamp

Freshers participate in a 9-week rigorous programme covering: •

Linux Training
SQL Training

Curriculum Outline

Python Training
Excel Basics and Data Entry
Big Data Hadoop and Spark Development
MySQL Database Management
AWS Data Analytics Training
Python Programming for Data Analysis
Azure Data Engineer
Basic Predictive Analytics Models
DevOps Training
Business Data Visualization with Power BI
Business Analytics Visualization with Tableau

Bootcamps in FY24

Number of Bootcamps organised for campus hires: 5
Number of participants onboarded: 276
• Number of graduates: 141 • Number of participants currently undergoing training: 135

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LatentView Analytics Annual Report 2023-2024

Our People Philosophy (continued)

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41
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Strategic Review

Company Overview

Key performance indicators Operating metrics Client servicing philosophy

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics
Annual Report 2023-2024
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Learning & development initiatives

3 Innovation Lab

4 Rising Star

The Rising Star award program is a prestigious initiative designed to recognize and nurture emerging leaders within the organization. This program identifies the top 1% of performers who demonstrate both high performance and high potential, selecting 5 offshore and 1 onsite Rising Stars every six months through a rigorous evaluation process by the leadership panel. These exceptional individuals are given a unique opportunity to showcase their contributions to the organization’s advancement, increased leadership responsibilities, and expanded sphere of influence.

LatentView’s Innovation Labs is a program that exemplifies our dedication to excellence, forwardthinking strategies, and nurturing a diverse and dynamic workforce. The program is based on three key pillars that bear the mantle. First being ‘Academic liaison’ that focuses on building and validating solutions and ongoing research papers with universities. Second is ‘Talent-build’ where we collaborate with selected university partners to select, train & build analytics focused talent, and third being ‘Innovation’ where we leverage the talent and research to transform delivery towards intelligent client operations. Thus, the program Motto being Build, Bolster, and Innovate!

As part of the program, Rising Stars receive exclusive mentorship from the Leadership team and are empowered to take ownership of new or existing initiatives across various functions or sectors. Additionally, the program offers accelerated promotion opportunities and enhances professional development through enrollment in executive education programs, enabling these top talents to rapidly scale their skills and impact within the organization.

Over the past two years, the Innovations Lab program has been pivotal in establishing successful academiaindustry partnerships in the United States. Currently, we have collaborations with four major universities namely:

Beneficiaries of the programme:

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2 - Sponsored for Stanford Certification Programme

North Carolina State University of Minnesota University (Institute of (Carlson School of Advanced Analytics) Business) University of Santa Clara Cincinnati University

1 - Sponsored for IIM lucknow “Executive General Management Programme” course
2 - Sponsored for PGP in Business Analysis certification

We continue to expand our network through ongoing discussions with other academic institutions.

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Our People Philosophy (continued)

Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView

Our People Philosophy Corporate Social Responsibility Corporate Governance

Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Driving Tangible Outcomes

Our team’s diverse backgrounds and commitment to continuous learning enable us to approach challenges from multiple perspectives. This collaborative approach, combined with our analytical prowess, allows us to develop innovative solutions that drive tangible outcomes for our clients.

By fostering an environment that values creativity, critical thinking, and a deep understanding of business challenges, we empower our team to deliver exceptional results and contribute to the success of our clients and the Company.

Strategic & proactive efforts driving material achievements

Talent development initiatives for FY24

2,435 919 Learning Udemy courses hours spent completed

10% 36% Reduction in annual Diversity ratio attrition rate achieved

3 334 Learning platform Employees partnerships onboarded

7.9 Employee engagement score achieved

Other initiatives

LEAP
Location	Certifcate	Courses
Onsite	2	13
Offsite	169	277

Lateral Hires Training Programme

Learning path assigned - 2 Technical courses, 1 Behavioural storytelling session, Knowledge Dissemination, Problem solving, Project 360, Business Hypothesis

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Location L1 L2 L3 L4 Total
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	Onsite 0 23 11 2 36 Offsite 1 29 22 5 57
	Total 1 52 33 7 93

Compliance courses for all employees

47 114 277 Onsite Offshore Offshore - Bootcamp

Toastmaster

In February this year, we established the LatentView - Quiet Roar Toastmasters chapter. We have a total of 22 registered members.

10 1 March 2024 Weekly meetings Internal contests Represented club at the completed conducted area level

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LatentView Analytics Annual Report 2023-2024

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43
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Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Corporate Social Responsibility

LatentView Analytics is deeply committed to giving back to society, embracing the ethos of inclusive development. Our mission centres facilitate education and livelihood support, with the majority of our resources dedicated to empowering programs and initiatives. While we recognize that we cannot solve all societal challenges alone, we strive to implement thoughtful initiatives that make a meaningful impact on individuals and communities.

8 8 Key highlights Partnerships with NGOs Initiated projects for FY24 CSR Initiatives ₹22.07mn 41,000+ Contributed towards CSR Beneficiaries

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Our key focus areas 1 Promotion of Education and Livelihood Impact 2 Ensuring Environmental Sustainability beyond profit

Our key focus areas

Corporate Social Responsibility (continued)

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Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies

Sustainability at LatentView

Our People Philosophy

Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Our Key Initiatives

Higher Education Scholarship Program and Career Guidance 493 Beneficiaries

This initiative offers scholarships to high-achieving students from underprivileged backgrounds who lack the financial means to pursue higher education. currently the program supports 44 students from previous years and has identified 7 new students for FY25. Since its inception in 2018, the initiative has fully sponsored 81 students, with 30 having graduated. Additionally, career guidance sessions have been conducted for 422 students in grades 10 to 12.

RTE and E-Sevai 13,983 Beneficiaries

In partnership with Bhumi, the RTE project emphasizes awareness generation and application support to facilitate admissions for marginalized students in private schools. Through this initiative, 339 children from socially and economically disadvantaged backgrounds received assistance in applying for admissions.

The E-Sevai project, undertaken in collaboration with TNEGA, aims to modernize common service centres (CSCs) throughout Tamil Nadu. This initiative involves developing online learning materials and implementing a framework for Third Party Audits (TPA) to ensure compliance with established guidelines. Furthermore, it offers employment opportunities to marginalized communities as EFA (Electronic Front Office) operators, resulting in enhanced income 5 opportunities for 13,454 individuals.

Eureka Superkidz Program 524 Beneficiaries

The Eureka Superkidz Project has benefited approximately 524 students by establishing after-school centers for students in grades 1-8 in Ramanathapuram District. The initiative focuses on enhancing fundamental skills in Mathematics, English, and Tamil through tutor training, distribution of learning materials, and activities designed to foster confidence, such as spoken English practice, role-playing 3 exercises, and promoting reading habits. 6

Chennai Kaalpandhu League (CKL)

270 Beneficiaries

Chennai Kaalpandhu League (CKL) is LatentView Analytics’ flagship program dedicated to empowering underprivileged communities through football. Season 3 of CKL focused on fostering holistic development among approximately 270 government school students in Chennai identified by various sports scouts, with a strong emphasis on sports. Beyond providing access to sports facilities, CKL nurtures core values such as teamwork, discipline, leadership, and goal-setting among students. By engaging young students in positive sporting activities, CKL aims to cultivate a skilled and motivated future workforce, uncover hidden talents, and create opportunities for district, state, and national level participation. CKL Season 3 was executed successfully, culminating in a grand finale with notable personalities and supported by collaborations with FIFAaccredited academies for high-performance training and participation in national-level competitions.

Teachers Training and Setting Up Resource Room for Learning Disabilities

585 Beneficiaries

This project supports dyslexic children by training teachers and establishing resource rooms in schools. Three schools were designated as centers for these initiatives, facilitating the enrollment of 65 dyslexic students in sensory rooms. A comprehensive training program was conducted for 520 private school teachers covering pre-primary, primary, and secondary education levels. The training encompassed specialized exercises aimed at improving teaching methodologies and enhancing support techniques tailored for dyslexic students.

Towards Cleaner Velachery

21,000 Beneficiaries

Centered on solid waste management and community engagement in Velachery, this project incorporates door-to-door awareness campaigns, community events, ongoing monitoring, and initiatives aimed at promoting behavioral changes. Activities encompassed rallies, workshops for sanitation staff, and awareness events at temples, involving 75 volunteers. Approximately 21,000 residents of Velachery, including GCC staff and sanitation workers, have benefited from these efforts.

Google Future Classrooms

386 Beneficiaries

The Google Future Classrooms project set up a dedicated classroom at a government high school in Chennai, specifically catering 6th to 8th grade students. Trainers were hired for a six-month period to instruct students utilizing Chromebooks and Google tools. This initiative provided exposure to Google Future Classrooms and Chromebooks for 386 government school students.

Project Apoorva

4,169 Beneficiaries

Project Apoorva is dedicated to fostering the holistic development of students in grades 9th to 12th from economically disadvantaged backgrounds. The initiative focuses on equipping students with essential employability skills through a student-centered approach, specifically preparing them for careers in Data Analytics. This program includes comprehensive activities such as situational analysis, curriculum development, orientation sessions, classroom instruction, psychometric testing, and career counseling. Emphasizing skills such as Spoken English, Digital Literacy, 21st-century competencies, and Data Analytics, Project Apoorva has positively impacted 4,169 students enrolled in government schools.

These initiatives highlight LatentView Analytics’ commitment to education, community development, and sustainable practices, aiming to create meaningful impacts on society.

Corporate Governance

Strategic Review

Company Overview

Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Building trust and transparency

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Board Committees Chairperson | Member
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Board of Directors

N S C B C B A S

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R A N S N R
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N C A

A.V. Venkatraman Pramadwathi Chairperson & Jandhyala Executive Director Executive Director

Reed Cundiff Independent Director

Dipali Sheth Independent Director

Mukesh Butani Independent Director

R. Raghuttama Rao Independent Director

Raghu is a Non-Executive Independent Director of the Company, bringing vast expertise in accountancy. He earned a Bachelor of Technology in Mechanical Engineering from IIT Madras and a Postgraduate Diploma in Management from IIM Ahmedabad.

Venkat, the Founder and Pramad is the Co-Founder Executive Chairperson of the and serves as an Executive Company, brings extensive Director of the Company, expertise spanning IT Services, leveraging extensive Credit Analysis, and Business experience in corporate Consulting, cultivated over finance and credit rating. She numerous years. He earned a obtained her B.E. in Computer Bachelor of Technology in Science from BITS Pilani and Civil Engineering from completed a Postgraduate IIT Madras and holds a Diploma in Management from Postgraduate Diploma in IIM Calcutta. Management from IIM Calcutta.

Dipali holds the position of Nonexecutive Independent Director within the Company, having significant experience in Human Resources. She graduated with a B.A. (Honours) in Economics from the University of Delhi.

Mukesh is a Non-Executive Independent Director with extensive experience in tax and M&A advisory services. He holds a Bachelor’s degree in Law and is a qualified Chartered Accountant.

Reed is a Non-Executive Independent Director of the Company, bringing experience from senior leadership positions at Kantar LLC and a General Manager role at Microsoft Corporation. He holds a Bachelor of Arts degree from Wesleyan University.

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Corporate Governance (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

3. Financial Statements Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Corporate governance framework

At LatentView, we uphold the highest standards of corporate governance, ensuring our leadership provides essential direction and guidance to achieve the Company’s organizational goals and deliver value to all stakeholders. This commitment aligns us with our strategic objectives and empowers us to enhance the value we deliver to our stakeholders.

Skill-set and expertise of the Board

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A.V. Venkatraman Pramadwathi Jandhyala
1 | 2 | 3 | 5 | 6 | 7 | 9 1 | 2 | 3 | 5 | 6 | 7 | 8 | 9
Dipali Sheth Mukesh Butani
1 | 2 | 4 | 5 | 7 | 9 | 10 1 | 2 | 5 | 6 | 7 | 8 | 9 | 10
R. Raghuttama Rao Reed Cundiff
1 | 2 | 4 | 5 | 6 | 7 | 8 | 9 | 10 1 | 2 | 3 | 5 | 6 | 7 | 9
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Leadership

Rajan Sethuraman Chief Executive Officer

Rajan boasts over 26 years of consulting experience with firms such as KPMG and Accenture. He holds a Bachelor’s degree in Engineering from BITS Pilani and a Postgraduate Diploma in Management from IIM Calcutta.

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Krishnan Venkata Chief Client Officer

Krishnan brings over 21 years of technical expertise in IT and analytics services delivery. He has worked across multiple geographies with leading IT firms such as Cognizant Technology Solutions and Wipro. He holds a B.Tech in Computer Science and Engineering from the College of Engineering, Trivandrum, and a Postgraduate Diploma in Management from IIM Lucknow.

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Rajan Venkatesan Chief Financial Officer

Raj has over 21 years of experience in Finance and Accounting, having worked with Financial Software and Systems, Ashok Leyland, Deloitte, Lovelock & Lewes, and Mphasis. He holds a Bachelor’s degree in Commerce (Honours) from Hindu College, New Delhi, and is a Chartered Accountant.

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Prashant

Ramanujan Chief Growth Officer

Prashant brings over 21 years of experience in business, sales, and technical delivery across the Americas, EMEA, and APAC regions. Previously, he served as a Portfolio and Regional Head at Infosys. He holds a B.Tech from the College of Engineering, Trivandrum, an MBA from ISB Hyderabad, and an Executive Leadership degree from Stanford University.

Corporate Governance (continued)

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Strategic Review Company Overview

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Board of Directors’ Structure
Audit Nomination and Stakeholder Corporate Risk Banking and
Committee Remuneration Relationship Social Management Authorisation
Committee Committee Responsibility Committee Committee
Chairperson & Executive Director | Executive Director Chief Executive Officer Chief Client Officer | Chief Financial Officer | Chief Growth Officer
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About the Board and the Committees

Roles & Responsibilities

To foster accountability, and set clear expectations, each Committee has defined roles and responsibilities.

Balanced board composition

Audit Committee

Corporate Social Responsibility Committee

To oversee audit processes and ensure accurate, timely disclosures that uphold the transparency, integrity, and quality of financial control and reporting.

To develop and propose a Corporate Social Responsibility Policy to the Board, and to suggest various avenues through which the Company can fulfill its CSR obligations.

67% 33% Non-Executive Executive Directors Directors

Nomination and Remuneration Committee

To assess the qualifications, positive attributes, and independence of directors and recommend to the Board a policy regarding the remuneration of directors, key managerial personnel, and other employees.

Risk Management Committee To identify, assess, and mitigate risks that could affect the Company’s objectives and operations.

An active Board focussed on strategic outcomes

5 100% 17 100% Board meetings Overall attendance Board Committee Overall attendance at during FY24 at the Board meetings during the Board Committee FY24 meetings FY24

Banking and Authorisation Committee To ensure administrative and operational efficiency, the committee reviews and approves authorisations necessary for banking operations and other routine business activities of the Company.

Stakeholder Relationship Committee

To address and resolve shareholder grievances, including complaints related to issues such as non-receipt of the annual report, transfer and transmission of securities, non-receipt of dividends/ interests, and any other concerns raised by security holders as they arise.

Seasoned Board with diverse experience

100% 67% 50% Members with 10+ years of Members with 20+ Members with 30+ experience during FY24 years of experience years of experience

Management Discussion and Analysis

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey

DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis

2024 and further elevate to 1.5% in 2025. The resurgence is expected to be driven by robust household consumption, as the impact of energy price shocks diminishes, and a decline in inflation bolsters growth in real income.

Global economy

During the global disinflation period of 2022–23, economic activity demonstrated remarkable resilience. Despite the upward adjustment of central bank interest rates to restore price stability, favourable demand and supply dynamics bolstered major economies, sustaining growth in employment and incomes. However, as inflation approaches target levels and central banks shift towards policy easing, a tightening of fiscal policies aimed at addressing high government debt levels, through increased taxes and reduced government spending, is anticipated to exert pressure on growth. Several factors, including the enduring effects of the COVID-19 pandemic, Russia-Ukraine conflict, sluggish productivity growth, and escalating geo-economic fragmentation, are expected to constrain expansion rates.

In other advanced economies, the United Kingdom’s growth is projected to escalate from an estimated 0.1% in 2023 to 0.5% in 2024, as the adverse effects of high energy prices gradually recede, before accelerating to 1.5% in 2025, facilitated by disinflation and subsequent easing of financial conditions, along with real income recovery. Meanwhile, Japan’s growth is anticipated to decelerate from an estimated 1.9% in 2023 to 0.9% in 2024 and 1% in 2025. This slowdown is attributed to the diminishing impact of one-off factors that buoyed growth in 2023, including a surge in inbound tourism.

In emerging markets and developing economies, growth is anticipated to remain steady at 4.2% in both 2024 and 2025. While there’s a moderation expected in emerging and developing Asia, this is largely offset by an increase in growth for economies in the Middle East and Central Asia, as well as for sub-Saharan Africa. Low-income developing countries are projected to experience a gradual uptick in growth, rising from 4.0% in 2023 to 4.7% in 2024 and further to 5.2% in 2025, as certain constraints on near-term growth ease.

The global growth rate, which stood at 3.2% in 2023, is anticipated to persist at the same pace throughout 2024 and 2025. However, it’s noteworthy that the projected global growth rates for 2024 and 2025 fall below the historical annual average of 3.8% recorded during the period 2000–2019. This reflects the impact of restrictive monetary policies, the withdrawal of fiscal support, and sluggish underlying productivity growth. While advanced economies are anticipated to witness a slight growth uptick, primarily driven by a recovery in the euro area from the sluggish growth observed in 2023, emerging market and developing economies are expected to maintain stable growth levels throughout 2024 and 2025, albeit with regional disparities.

Growth in emerging and developing Asia is predicted to decline from an estimated 5.6% in 2023 to 5.2% in 2024 and 4.9% in 2025. In China, growth is expected to decelerate from 5.2% in 2023 to 4.6% in 2024 and 4.1% in 2025 due to the gradual fading of one-off factors such as the post-pandemic consumption boost and fiscal stimulus, coupled with persistent weaknesses in the property sector. Meanwhile, India is projected to maintain strong growth at 6.8% in 2024 and 6.5% in 2025, reflecting ongoing robust domestic demand and a growing working-age population.

For advanced economies, growth is expected to ascend from 1.6% in 2023 to 1.7% in 2024 and further to 1.8% in 2025. The enhancement for 2024 predominantly stems from a revision in US growth, which offsets a similar downward revision to the Euro area for 2025.

In emerging and developing Europe, growth is forecasted to reach 3.2% in 2023 and 3.1% in 2024, before easing to 2.8% in 2025. The moderation is attributed to a prospective decline in growth in Russia from 3.2% in 2024 to 1.8% in 2025, as the effects of high investment and robust private consumption gradually wane. In Latin America and the Caribbean, growth is forecasted to decrease from an estimated 2.3% in 2023 to 2.0% in 2024, followed by a rebound to 2.5% in 2025. The Middle East and Central Asia are expected to experience growth acceleration, increasing from an estimated 2.0% in 2023 to 2.8% in 2024 and further to 4.2% in 2025. Sub-Saharan Africa is anticipated to witness

In the United States, growth is forecasted to advance to 2.7% in 2024 before decelerating to 1.9% in 2025. This deceleration is attributed to gradual fiscal tightening and a softening in labour markets, which impede aggregate demand. Additionally, some of the heightened momentum from 2023 is anticipated to persist into 2024.

The Euro area’s growth trajectory is anticipated to rebound from its sluggish estimated rate of 0.4% in 2023, largely influenced by substantial exposure to the conflict in Ukraine. Growth is forecasted to reach 0.8% in

growth escalation, increasing from an estimated 3.4% in 2023 to 3.8% in 2024 and further to 4.0% in 2025. This growth trajectory is driven by the diminishing impact of earlier weather shocks and gradual improvements in supply issues.

Growth Outlook: Broadly Stable (Percent; solid = Apr’24 WEO, dashes = Oct’23 WEO) 1. AE and EMDE Growth

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5
4
3
2
1
0 World AEs EMDEs
2023 24 25 26 27 28 29
2. EMDE Growth by Region
6
5
4
3
2
1
LAC SSA ME & CA
0 Emerging Asia Emerging Europe
2023 24 25 26 27 28 29
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Note: AE- Advanced Economy; EMDE- Emerging Market and Developing Economy; LAC- Latin America and the Caribbean; ME & CA- Middle East and Central Asia; SSA- Sub-Saharan Africa; WEO- World Economic Outlook. Source: IMF - World Economic Outlook - April 2024

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence

Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities

GenAI case studies

Founders’ Address

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

In response, technology providers are proactively integrating GenAI capabilities into existing products and services, aligning with the Data & analytics evolving needs of enterprise clients. Service providers are witnessing a surge in spending in GenAI-supportive markets, particularly in servers and semiconductors. By 2024, AI servers are poised to capture nearly industry 60% of hyperscalers’ total server expenditure, reflecting the intense focus on large-scale GenAI initiatives.

Global IT industry

The worldwide IT spending is anticipated to reach US$ 5.06 trillion in 2024, marking an 8% surge from the preceding year. This upward revision from the previous quarter’s 6.8% projection sets the stage for global IT spending to surpass the US$ 8 trillion mark well before the decade’s end.

In our current technology-driven age, data has emerged as a crucial resource for companies. The field of Data & Analytics (D&A) is experiencing rapid expansion as more businesses implement datacentric approaches to optimize their operations. An increasing number of organizations are leveraging data analytics to improve data-based decision-making, deploy data-driven strategies, and broaden their dataoriented product lines.

Mobile phone lifespans are contracting, prompting consumers and enterprises to upgrade devices sooner. This shift is expected to drive device spending to US$688 billion in 2024, marking a 3.6% growth from the 2023 lows of US$664 billion. The integration of GenAI capabilities in both premium and basic phones is contributing to this resurgence, consolidating the recovery in device spending.

The spending on IT services is on track to grow by 9.7% to eclipse US$1.52 trillion. Enterprises are swiftly trailing behind IT service firms in the race to attract talent possessing crucial IT skill sets. Consequently, there is a heightened demand for investing in consulting services compared to bolstering internal staffing. This marks a pivotal turning point in this trend, with consulting expenditure surpassing that of internal staff for the first time.

Businesses need data analytics because it gives them the ability to manage, process, and simplify large datasets in real time while also enhancing their capacity for data-driven decision-making. Additionally, the main objective of big data and business analytics is to help businesses better understand their clients and target markets, hence enhancing marketing efforts. These qualities are anticipated to boost acceptance by numerous companies from various industries, which would propel the expansion of the big data market.

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Noteworthy growth is anticipated in data centre systems spending, projected to soar from 4% in 2023 to 10% in 2024, largely attributed to strategic planning for generative AI (GenAI). The progression from conceptualisation to execution in the GenAI narrative is seen, with enterprises transitioning from storytelling to active planning in 2024, and laying the groundwork for execution in 2025.

Numerous new business prospects are anticipated to arise as a result of recent breakthroughs in big data analytics, including social media analytics and text analytics.

Worldwide IT Spending Forecast (Millions of US$)	Worldwide IT Spending Forecast (Millions of US$)
	2023 Spending	2023 Growth (%)	2024 Spending	2024 Growth (%)
Data Center Systems	236,179	4.0	259,680	10.0
Devices	664,028	-9.1	687,943	3.6
Software	914,689	12.6	1,042,174	13.9
IT Services	1,385,120	6.1	1,519,928	9.7
Communications Services	1,487,161	3.3	1,551,288	4.3
Overall IT	4,687,177	3.8	5,061,013	8.0

Companies look to historical data about their past performances in addition to current information about their customers, goods, services, and business processes in order to obtain insights and discover historical trends and patterns. In order to examine these patterns, find new business opportunities, and create strategies based on recent insights, several industries have adopted business analytics software and solutions.

The rise of SaaS-based big data analytics, the rise of virtual offices generating large data volumes, and rising cloud technology expenditures are all anticipated to accelerate the market’s growth.

IoT device connectivity is growing as a result of machine learning algorithms, the internet of things, and artificial intelligence. The International Data Corporation predicts that by 2025, approximately 152,200 IoT devices will link every minute. The need for connected devices is growing, which speeds up the implementation of edge computing. Edge computing solutions are structures that, as opposed to clouds, situate the processors closer to the data source or destination.

Source: Gartner (April 2024)

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50
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Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Key performance indicators Operating metrics Client servicing philosophy Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis (continued)

Data that is located close to the source or the destination reduces network and server strain and speeds up data uploads to on-premises or cloud systems. Along with the ability to process data in real-time and with a speedier response time, edge computing is particularly applicable to the industrial IoT.

GenAI and its Implications for Analytics Service Providers

Also, because of the development of mobile technology like smartphones or tablets and advancements in mobile networks and Wi-Fi, both data generation and consumption are constantly rising. As per IDC, the amount of digital data created over the next five years will be greater than twice the amount of data created since the advent of digital storage.

GenAI is a significant disruptive force in the AI and analytics landscape. It’s a technology that can create new content, including text, images, and code, based on large language models trained on vast amounts of data. The emergence of GenAI is a pivotal moment in the evolution of AI, with the potential to transform various industries and business processes.

Data Generated Globally (ZB)

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2020 64 ZB
2025 175 ZB
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Potential Impact on Analytics Service Providers Disruption

CAGR ~23%

Automation of Tasks: GenAI is expected to automate many tasks traditionally performed by analytics service providers, such as data preparation, feature engineering, and basic analysis. This automation could potentially reduce the demand for certain low-level analytics services.

With the rising demand for customer retention, better lead management, and client experience management, the customer analytics segment is anticipated to enjoy remarkable growth. The retail sector makes extensive use of customer analytics to create individualised communications in addition to marketing initiatives. AI applications are being utilised more frequently for demand forecasting, pricing optimization, and conversational AI, resulting in a seamless online shopping experience.

Democratization of Analytics: GenAI tools like ChatGPT are making advanced analytics capabilities more accessible to non-technical users. This could challenge the traditional role of analytics service providers as gatekeepers of complex analytical processes.

The BFSI sector is increasingly adopting cognitive systems and AI operations to address regulatory and compliance requirements, driven by rising demand for digital technology and evolving customer expectations. In healthcare, numerous use cases have emerged in drug discovery and development processes by leveraging machine learning, natural language processing, and other cognitive reasoning technologies. Additionally, AI is becoming more prevalent in uncovering hidden insights from data, ranging from social media analysis to predictive modelling for testing advertising strategies, pricing, and sales forecasting.

Rapid Prototyping: GenAI enables faster development of prototypes and proof-of-concepts, which may accelerate the project lifecycle and change how service providers engage with clients.

Skill Set Shift: The rise of GenAI necessitates a shift in the skill sets required by analytics professionals. Service providers will need to adapt their talent acquisition and training strategies to remain competitive.

It is projected that SMEs would increase their need for data analytics solutions due to the increased need for dashboards for data visualisation. Additionally, SMEs choose data analytics tools to improve customer service and take better risk-related decisions.

Opportunities for Service Providers

Despite the disruptions, there are several ways in which analytics service providers can leverage GenAI to enhance their offerings:

Integration and Customization: Service providers can focus on integrating GenAI technologies into existing systems and customizing them for specific client needs. This requires deep domain knowledge and technical expertise that many clients may lack.

Data Quality and Governance: As GenAI relies heavily on highquality data, service providers can position themselves as experts in data preparation, cleansing, and governance – critical aspects for successful GenAI implementation.

Ethical AI and Bias Mitigation: With growing concerns about AI ethics and bias, service providers can offer specialized services to ensure responsible and fair use of GenAI technologies.

Advanced Analytics Solutions: By combining GenAI with other advanced analytics techniques, service providers can create more sophisticated and valuable solutions for their clients.

Training and Change Management: Service providers can offer training and change management services to help organizations effectively adopt and utilize GenAI technologies.

Continuous Improvement and Optimization: As GenAI models require ongoing refinement and optimization, service providers can offer long-term partnerships to maintain and improve GenAI systems over time.

Conclusion

While GenAI presents challenges to traditional analytics service providers, it also offers numerous opportunities for those willing to adapt and innovate. The key to success will be in repositioning services to complement and enhance GenAI capabilities, rather than competing directly with them. Service providers who can effectively integrate GenAI into their offerings, while providing crucial expertise in areas like data quality, ethics, and domain-specific customization, are likely to thrive in this evolving landscape.

Source: Avendus | Precedence Research

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities

GenAI case studies

Founders’ Address

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Company Overview

A leading global pure-play digital analytics Company, LatentView Analytics is experiencing rapid growth. We assist our clients in gaining a competitive edge by integrating traditional and digital data to drive digital transformation. Our services provide a comprehensive view of digital consumers, allowing companies to forecast new revenue streams, predict product trends and popularity, enhance customer retention, and optimize investment choices.

We collaborate with over 30+ Fortune 500 and similar enterprises to develop and implement comprehensive analytics strategies. Our areas of expertise include digital solution accelerators, big data capabilities, social media predictive analytics, and analytics tools.

We help organizations thrive in the digital realm by harnessing the power of technology and analytics, as well as partnering with industry leaders in cloud computing, data visualization, data engineering, and customer data platforms. This distinguishes us from traditional analytics companies that focus solely on strategy or delivery.

Since its establishment, LatentView Analytics has aided clients in gaining valuable business insights and fostering growth through data-driven, holistic, and sustainable impact. We continuously develop cutting-edge solutions to leverage data effectively. With a forward-looking approach, we guide businesses in transitioning from raw data to actionable insights.

As of FY24, we serve a diverse global client base of 61 active customers. Our clientele varies in terms of size, industry, and geographic location. We primarily cater to businesses in the Technology, CPG and Retail, Financial Services, and Industrial sectors (including Automotive, Manufacturing, Oil and Gas, and Logistics).

Functional expertise across different sectors

Financial Services

Fraud Analytics
Customer Analytics
Marketing Analytics

Consumer

Customer Analytics
Supply Chain Analytics

Technology

Marketing Analytics
Supply Chain Analytics
Risk Analytics
Subscription Analytics

Retail

Customer Analytics
Marketing Analytics
Supply Chain Analytics

Industries

Customer Analytics
Marketing Analytics
Supply Chain Analytics

LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Financial Performance Review

₹ in Mn

Revenue from Operations

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FY24 6,407
FY23 5,388 18.9%
Employee Benefits Expense
FY24 4,339
FY23 3,361 29.1%
Selling & Admin Expense
FY24 707
FY23 576 22.7%
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EBITDA PBT PAT 1,360 1,970 1,586 FY24 (6.2%) FY24 4.0% FY24 2.1% 1,451 1,894 1,554 FY23 18.9% FY23 22.8% FY23 20.0% YoY

Other Income

Revenue

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Client Concentration
(in %)
57
Top 5 Clients
63
71
Top 10 Clients
76
88
Top 20 Clients
91
FY23 FY24
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Our other income for the year ended March 31, 2024 is ₹737 million against ₹558 million. During FY24, investment in bonds, mutual funds and government securities constituted 54% of the entire investment portfolio as compared to 46% in FY23.

On a consolidated basis, our Company registered total operating revenue of ₹6,407 million for the year ended March 31, 2024 as compared to ₹5,388 million for the year ended March 31, 2023. Despite a subdued demand environment we managed to deliver revenue growth of 18.9% in FY24. In particular, our largest vertical, Technology, contributed about ₹839 million in FY24 with an annual growth of 23%, which was followed by Industrials vertical contributing ₹139 million with growth of 21% for FY24, validating the solid demand environment and our strong domain capabilities in these verticals. Existing clients contributed 89.4% of growth in revenue, with the remaining revenue coming from new clients, demonstrating strong long term relationships with our customers.

Out of the total investments as of March 31, 2024, 66% of investments were held in India and the remaining were held in other geographies.

Increase in interest income was owing to higher average investible surplus through string cash flow generation. Also, with the rise in interest rates in the market, we were able to generate higher income across all the instruments in our portfolio.

Average yield generated on invested funds grew to 5.9% in FY24 compared to 5% in FY23.

Remaining portion (6%) of other income comprised profit/loss in foreign exchange transactions also benefited with favourable foreign exchange movement over the year.

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53
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Strategic Review

Company Overview

Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance

Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Management Discussion and Analysis (continued)

Employee Benefits

Selling and Admin expenses

On a consolidated basis, our payroll and related benefits cost increased by 29.1% and incurred ₹4,339 million for the year ended March 31, 2024 compared to ₹3,361 million for the year ended March 31, 2023, an increase of 29.1%. As a percentage of revenue, payroll costs increased from 62.4% from the previous year to 67.7% in the current year. The raise is attributable to:

As a % of revenue, selling and admin expenses increased marginally from 10.7% from previous year to 11% in the current year. In absolute terms, SG&A grew by 22.7% in the current year due to the following factors:

During the year, the subscriptions and hosting charges have increased by 96.6% driven by increased investments in security, software & infrastructure and CRM platforms.
Advertisement and sales promotion expenses increased by 34.1% in FY24, owing to an increased number of initiatives during FY24.

Net increase in headcount

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164 by Geography
32
132
Other
India
Geographies
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Travel and conveyance cost was higher by 16% for FY24 on account of increase in fees levied by US Government for granting work permits during the year, higher number of visas processed and increased travel to meet clients and new prospects.
Legal and professional charges increased by ₹38.4 million primarily driven by consulting and advisory fees in relation to acquisition of Decision Point

Depreciation and Amortisation

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Net increase in headcount
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Our depreciation and amortisation expense has increased from 1.6% in the previous year to 1.8% as a percentage of revenue from operations in the current year.

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164 by Functions
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Profitability

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17 162
Marketing Campus
and Demand Hires &
Generation Delivery
(3)
(12) Enablement
Horizontals functions
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During the year ended March 31, 2024, our Company earned a profit of ₹1,586 million (22.2%) as compared to ₹1,554 million (26.1%) for the year ended March 31, 2023.

Profit margin for FY24 shrunk on account of:

During FY24, we have increased our investments by 16.8%. We predominantly invested in GTM strategy, channel infrastructure and marketing.
However, this has been partially offset by a corresponding increase in interest income from investments from 10.3% of total revenue in FY24 as compared to 9.4% in FY23
Effective tax rate also increased to 19.5% in FY24 compared to 17.9% in FY23. This was on account of expiry of tax holiday under Sec 10AA of Income Tax Act, 1961 in FY23 for our SEZ Unit 1 in Chennai which housed a significant portion of our delivery teams. However, this increase in tax expense was partially offset by Deferred Tax Asset (DTA) created on account of tax loss in the US on exercise of share options.

Balance Sheet

1 Cash and Investments

Our cash and investments position as of March 31,2024 was at ₹12,744 million (including unutilised IPO funds ₹1,479 million) as compared with ₹10,964 million for March 31, 2023. The breakup of investments are as follows:

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In (₹ million) March 31, 2024 March 31, 2023
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Investments in Bonds	3,530	3,223
Investments in Mutual Funds	1,995	768
Investments in Fixed Deposits	4,339	5,423
Investments in Government Securities	1,232	1,016
Cash in Bank (including deposits with original maturity <3 months)	1,648	534
Total	12,744	10,964

In the year, we have prudently churned the portfolio and invested in better yield generating investments. However, we have earmarked 28% of our investments in fixed deposits and liquid investments to fund our impending acquisition later in the upcoming year.

Our funds are well-diversified across all the geographies that we operate in and meet working capital requirements.

LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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2 Trade Receivables

Our trade receivables as on March 31, 2024 was at ₹1,131 million as against ₹985 million as of March 31, 2023. Days sales outstanding (DSO) for the year-ended March 31, 2024, was at 59 compared with 63 as on March 31, 2023.

Total Equity

Major events and corresponding movements pertaining to total equity are as follows:

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In (₹ million) Opening Share option exercise Sec 10AA Profit for the year Items of OCI Closing
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Share Capital	205	1	-	-	-	206
Securities Premium	4,608	39	-	-	-	4,647
Retained Earnings	6,923	-	(50)	1,586	(5)	8,454
Other Reserves	339	16	50	-	33	408
Total	12,074	56	-	1,586	27	13,744

Key Financial Ratios

In accordance with the SEBI (Listing Obligations and Disclosure Requirements 2018) (Amendment) Regulations, 2018, the company is required to provide details of significant changes (change of 25% or more) compared with the immediate previous financial year) in key sector-specific financial ratios. The Company has identified the following ratios as key financial ratios.

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Consolidated
Particulars FY24 FY23
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Revenue growth (%)	18.9	32.1
Net proft margin (%)	22.2	26.1
Operating proft margin (%)	21.2	26.9
Debtors turnover (number of days)	59	63
EPS Basic (₹)	7.73	7.71
Return on Equity (%)	11.7	13.9

Ratio that have a significant change from the year ended March 31, 2024 is Revenue growth (%) which is explained below:

In the United States and Europe, which are our key market focus, the macroeconomic demand environment during the year ended March 31, 2024 was uncertain. The revenue in these geographies grew by only 17% in FY24 as compared to 32% in FY23.
Financial services, one of our focus verticals, dropped from 9% in FY23 to 7% in FY24.

Operational Review

Talent Pool

Despite an uncertain macroeconomic environment, the Company has witnessed strong growth across geographies, demonstrating a resilient business model. In addition, the Company continued to invest in people to strengthen its bandwidth, with a net addition of 164 people during the year.

790 21 Engineers Statisticians

204 49 Management Others Graduates

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216 Post Graduates & PhDs

LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers

Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies

Founders’ Address Letter to Shareholders Management Quotes

Performance Review

Key performance indicators Operating metrics Client servicing philosophy

Success Stories

Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility

Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Advisory Council

We constituted an Advisory Council at the end of FY22, and by the end of this year, we will have over 11 active advisors onboard. Our additions inter alia include:

Sanjay Singh: Sanjay has 30+ years of strategic business experience as a Chief Financial Officer at some of the world’s leading consumer product and retail brands, including Qurate (formerly known as QVC), Abercrombie & Fitch, and Procter & Gamble.

Jai Kibe: Jai has 25+ years of experience building and implementing digital solutions for rapidly growing brands. His recent role was at SC Johnson as the Senior Vice President and CMO. Before that, he led marketing strategy at Coca-Cola for over 23 years, holding various leadership positions.

Angshuman Rajkhowa: Angshuman has 18+ years in Transaction Banking, with expertise in Strategy, Product Management, and Operations at global banks like RBS, ABN AMRO, and Standard Chartered.

Finn Raben: Finn is a multilingual strategy and transformation leader with extensive experience in TNS Kantar, AC Nielsen, and Esomar, bringing unique expertise in research, data science, and change management.

11

Experienced members in LatentView Advisory Council

Board of Directors

The LatentView Analytics Board currently has 6 members, comprising 4 Independent Directors and 2 Whole Time Directors. We do not have changes in the constitution of the board this year.

Recognition

LatentView Analytics received multiple awards and accolades during the year, including:

Great Place to Work 2023-24: The recognition is based on the responses given by our employees across various parameters that constitute employee satisfaction. This certification further reinforces LatentView Analytics as an employer of choice and has also been recognized this year as one of India’s Best Workplaces for Women.

Honoured and Featured among the Top 100 Mid-size Workplaces in India for 2024: This significant milestone is a testament to the exceptional work environment of the company that fosters growth, collaboration, and innovation. LatentView’s focus remains strong on creating a positive impact within the organization and in the broader world of analytics.

Bronze rating in the company’s first EcoVadis Sustainability Ratings: This highlights LatentView’s readiness for, and dedication to sustainable and responsible business practices.

We were named as a leader in the PeMa (PenetrationMaturity) Quadrant 2023 by Analytics India Magazine for Data Science Service Providers in August 2023

Rajan Sethuraman, CEO of LatentView Analytics, has been recognized as one of the AIM Top 20 CEOs of Data Science Service Providers for 2023

Identified as one of the Top 50 places to work for Data Scientists by AIM Research (workplace recognition)

Leader in ISG Provider Lens for Supply Chain Analytics (analyst recognition)

AIM Research PeMa Quadrant 2023 - Data Science Service Providers - Leader

Zinnov Zones 2023 - Data & AI Engineering Services - Overall - Leader Zinnov Zones 2023 - Data & AI Engineering Services - SMEs - Leader Everest Peak Matrix 2024 - Data & AI Services - Major Contender

People Strength

As on March 31, 2024, the Company had a total headcount of 1,280 compared with 1,116 employees at the end of March 31, 2023.

Business Outlook

In today’s highly competitive world and uncertain economic conditions, organizations are increasingly relying on data-driven insights to make more accurate and precise decisions to maximize efficiency and remain competitive. The management continues to remain focused on the company’s core areas of business, viz., Technology, Industrial CPG & Retail, and BFSI. We are creating capabilities that cut across industries, specifically in the areas of Supply Chain, Data Engineering, and Advanced Data Science. We believe these Centres of Excellence would fortify our positioning in the market and create differentiated service offerings. This approach should lead to greater focus on industry-specific pain points as well capitalize on faster pockets of growth available in these areas. The recent acquisition of Decision Point Analytics marks a significant milestone, which will further bolster our capabilities in the CPG vertical and open a new geography in Latin America.

Revenue for the full year grew by 18.9%, despite uncertain macroeconomic indicators persisting for the majority of the fiscal. We attribute this success to our deep relationships with existing clients in the technology, industrial and CPG verticals, reflecting their trust in our solutions.

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LatentView Analytics Annual Report 2023-2024

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Strategic Review Company Overview

Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Management Discussion and Analysis (continued)

Risk Governance

A company’s success hinges on its ability to manage inherent business risks. Operating in a sector influenced by various internal and external factors, the organization has established a formal policy and created a Risk Management Committee to address, evaluate, mitigate, monitor, and report risks. This committee, formed in the last financial year, has the following responsibilities and authority:

Develop a comprehensive risk management policy, including:

Review the risk Assess cyber Provide regular Periodically review management policy security risks and reports to the Board and reassess periodically, at ensure timely on risk management the adequacy least biennially, implementation and minimization of its charter, considering of mitigation procedures, recommending industry changes procedures. along with changes to the Board and increasing recommendations. for approval. complexity. 5 7 9 11

Ensure appropriate methodologies, processes, and systems are in place to monitor and evaluate business-related risks.

A structure for identifying internal and external risks faced by the entity, such as financial, operational, sectoral, sustainability (particularly ESG-related), information, cyber security, and other risks as determined by the Committee.

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3
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Risk mitigation measures, including systems and processes for internal control of identified risks.

A continuity plan for the business.

Oversee the Keep the Board of Delegate matters to a Review and reassess Regularly review and implementation of Directors informed panel of at least two the adequacy of its reassess the adequacy the risk management about discussions, committee members charter periodically, of its charter, policy, including recommendations, and additional recommending recommending assessing the and actions to be experts as needed, changes to the Board changes to the Board adequacy of risk taken. subject to defined for approval. for approval. management systems. terms of reference. 4 6 8 10 12

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1
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Access any internal information necessary to fulfil its oversight role. 2

LatentView Analytics Annual Report 2023-2024

Management Discussion and Analysis (continued)

Strategic Review

Company Overview

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Major Risks and Risk Mitigation Actions

Risks

Mitigating Actions

Concentration of Revenue

93% of our revenue comes from the US. Political, economic, and social instability in the region could negatively affect our revenue.

The US will remain our primary market. However, in recent years, we have been making substantial investments in Europe and the Asia-Pacific region to lessen our reliance on the US market.
• All of our key clients are Fortune 500 companies, and we engage with various buying groups and stakeholders within these organizations. • ~50% of our clientele consist of Fortune 500 companies, thus offering us decent stability of existing business and visibility of future business. • We have dedicated account managers for our top clients to ensure they receive high-quality solutions from a skilled and efficient team. • We have identified a select list of Fortune 1000 or digitally native companies capable of spending over US$2 million on analytics initiatives. We have a strategy to increase interactions with senior executives in these companies.

Over 63% & 76% of our revenue is derived from our top 5 & top 10 clients respectively. Changes in these clients’ preferences, priorities, or internal strategies could negatively impact our operations and outlook.

Service Commoditization

We regularly assess our service offerings that are prone to commoditization, productization, or automation. • We continuously monitor the insights produced from our services and the resulting impact/value. These insights are classified as DEL 1, DEL 2, or DEL 3, based on their impact, with DEL 1 having the least effect and DEL 3 having the greatest effect.
• We look at GenAI as a potential area of opportunity as well, evaluating ways in which we can leverage GenAI to enhance our service offerings. We are repositioning services to complement and enhance our GenAI capabilities.

Our services are at risk of commoditization, productization, or automation, especially in light of GenAI advancements, which may impact our market position and pricing power.

Emerging Technologies

We invest significant resources in exploring emerging technologies ahead of trends and enhancing our team’s skills to address client requirements by utilizing our enduring relationships with key technology partners. The benefits offered include: • Employing data science methodologies, data engineering solutions, and visualization applications to convert unprocessed information into practical insights for more effective decision-making. • Determining crucial business metrics through a blend of industry expertise, investigative data examination, and data science frameworks to extract vital information and offer guidance.

Evolving technologies like GenAI could adversely affect our clients’ business and could pose a threat to our services.

Management Discussion and Analysis (continued)

Strategic Review Company Overview About us Key facts and figures Vision, mission and values Milestones in the journey DP acquisition Global presence Our team Key numbers Solutions and services Analytics offerings Advisory council Industry offerings GenAI capabilities GenAI case studies Founders’ Address Letter to Shareholders Management Quotes Performance Review Key performance indicators Operating metrics Client servicing philosophy Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Risks Mitigating Actions
Service Delivery Risk
Lack of a structured approach • A dedicated internal team conducts regular operational assessments and
quality inspections to mitigate any service or delivery risks.
to evaluate and assess customer
• We implement independent, bi-annual client surveys covering all aspects of customer interaction.
satisfaction may result in unaddressed
The feedback is analyzed, distributed to relevant teams, and appropriate actions are taken.
grievances & feedback, potentially
leading to client discontent.
Resource Planning and Management
Unavailability of talent or skill set • Resources planning and management starts before the contract is signed to ensure
we have the right team to address the client’s requirement.
mismatch may impact timing and
• Our diversity in terms of skill and talent pool are closely monitored
quality of delivery.
by the management to ensure that we are market ready.
Information and Cyber Security Risk
Unauthorized disclosure or theft • We implement various safeguards governed by privacy protocols aligned with relevant laws across jurisdictions.
of confidential client data could Our policies ensure technical controls, employee education, and awareness to promote responsible handling of sensitive information.
• Additionally, we only access data stored on client systems or cloud platforms. No information is kept on local devices.
violate non-disclosure agreements
and potentially result in significant
substantial damages.
Talent Retention Risk
Our operational performance and • The opportunity to solve complex challenges for major corporations including
Fortune 500 creates an environment conducive to attracting and retaining top talent.
growth rely on key management,
• We have created innovative reward systems based on performance and goal achievement,
KMPs, senior delivery team, and
like ESOPs and sponsoring advanced education.
sales personnel. Failing to recruit, • We also conduct employee engagement activities and recognition programs.
keep, develop and motivate such
skilled employees could negatively
impact our operations, business, and
financial results.
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Corporate Information

1. Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

2. Statutory Reports Corporate Information Corporate Information Board’s Report Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

3. Financial Statements Consolidated Financial Statement Standalone Financial Statement

4. Notice to the AGM

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BOARD OF DIRECTORS

A.V. Venkatraman - Executive Chairperson Pramadwathi Jandhyala - Whole Time Director Dipali Sheth - Independent Director Mukesh Butani - Independent Director R. Raghuttama Rao - Independent Director Reed Cundiff - Independent Director

KEY MANAGERIAL PERSONNEL

Rajan Sethuraman - Chief Executive Officer Rajan Bala Venkatesan - Chief Financial Officer P. Srinivasan - Company Secretary and Compliance Officer

COMMITTEES OF THE BOARD

Audit Committee

Mukesh Butani - Chairperson Dipali Sheth - Member* R. Raghuttama Rao - Member Pramadwathi Jandhyala - Member

*Appointed as a member w.e.f January 29, 2024

Nomination & Remuneration Committee

Dipali Sheth - Chairperson R. Raghuttama Rao - Member Reed Cundiff - Member A.V. Venkatraman - Member

Corporate Social Responsibility Committee

Pramadwathi Jandhyala - Chairperson Dipali Sheth - Member A.V. Venkatraman - Member

Stakeholder’s Relationship Committee

Reed Cundiff - Chairperson A.V. Venkatraman - Member Pramadwathi Jandhyala - Member

Risk Management Committee

R. Raghuttama Rao - Chairperson Reed Cundiff - Member Rajan Sethuraman - Member

Banking and Authorization Committee

Pramadwathi Jandhyala - Chairperson A.V. Venkatraman - Member Rajan Sethuraman - Member Rajan Bala Venkatesan - Member

STATUTORY AUDITOR

B S R & Co. LLP, Chartered Accountants

INTERNAL AUDITOR

BDO India LLP, Chartered Accountants

SECRETARIAL AUDITOR

M. Alagar & Associates, Practising Company Secretaries

SHARE TRANSFER AGENT

Link Intime India Private Limited (Registrar and Share Transfer Agent) C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400 083 Tel: +91-224918 6000 Fax: +91-22-4918 6060 Email: [email protected]

REGISTERED OFFICE

5[th] Floor, Neville Tower, Unit 6,7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai - 600113 Tamil Nadu Tel.: +91-44-4344 1700 Website: www.latentview.com E-mail: [email protected]

BANKERS

Axis Bank Limited Citibank NA ICICI Bank Ltd. Standard Chartered Bank

Hongkong and Shanghai Banking Corporation Limited State Bank of India HDFC JP Morgan Chase & Co

CIN

L72300TN2006PLC058481

ISIN

Equity Shares: INE0I7C01011

LatentView Analytics Annual Report 2023-2024

Board’s Report

Dear Members,

Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

2. Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Your directors take pleasure in presenting the 18[th] (Eighteenth) Board’s Report covering the highlights of the business and operations of your Company, along with the audited Standalone and Consolidated Financial Statements for the year ended March 31, 2024.

1. HIGHLIGHTS OF FINANCIAL PERFORMANCE

The Standalone and Consolidated Financial Statements of your Company for the Financial Year ended March 31, 2024, have been prepared in accordance with the Indian Accounting Standards (Ind AS) as notified by the Ministry of Corporate Affairs and as amended from time to time.

(Amount in ` million)

Corporate Affairs and as amended from time to time.	(Amount in`million)
Description	Standalone Consolidated
	FY 2023-24 FY 2022-23 FY 2023-24 FY 2022-23
Revenue from Operations	2,915.15 2,639.5 6,406.83 5,387.62
Other Income	692.16 572.22 737.02 557.66
Total Income	3,607.31 3,211.72 7,143.85 5,945.28
Employee benefts expense	1,597.06 1,343.77 4,338.92 3,361.36
Finance Cost	30.38 26.14 30.47 26.39
Depreciation and Amortization	80.91 74.17 96.61 88.15
Other expenses	359.55 271.94 707.60 575.74
Total expenses	2,067.90 1,716.02 5,173.60 4,051.64
Proft before Tax & Exceptional Items	1,539.41 1,495.70 1,970.25 1,893.64
Exceptional items	- - - -
Proft before tax	1,539.41 1,495.70 1,970.25 1,893.64
Tax Expense	406.73 323.34 383.81 339.33
Proft after tax	1,132.68 1,172.36 1,586.44 1,554.31
Earnings Per Share (in`)
- Basic	5.52 5.82 7.73 7.71
- Diluted	5.48 5.75 7.68 7.63

Note: Previous year’s figures have been regrouped/reclassified wherever necessary to correspond with the current year’s classification/disclosure.

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LatentView Analytics Annual Report 2023-2024

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

2. Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement

2. STATE OF COMPANY’S AFFAIRS

Your Company is a global digital analytics firm that inspires and transforms businesses to excel in the digital world by harnessing the power of data and analytics. Your Company provides a 360-degree view of the digital consumer, enabling companies to predict new revenue streams, anticipate product trends and popularity, improve customer retention rates and optimize investment decisions. Your Company and its Subsidiaries are a trusted partner to enterprises worldwide, including 30+ Fortune 500 companies in the retail, CPG, financial services, technology, media & entertainment, travel & hospitality, and industrials sectors and have 1,250+ employees in offices in Princeton, New Jersey, San Jose, California, London, Singapore, Bangalore, and Chennai.

Performance Overview:

(a) Standalone Financials

Total income witnessed a growth of 12.32%. The Profit After Tax for the year is at 31.40% of total income with Basic Earnings per share at ` 5.52.

(b) Consolidated Financials

Total income witnessed a growth of 20.16%. The Profit After Tax for the year is at 22.21% of total income with Basic Earnings per share at ` 7.73.

A comprehensive examination of your Company’s operations, encompassing performance in markets, business outlook, as well as risks and concerns, is provided in the Management Discussion and Analysis report, a separate section of the Annual Report.

During the year under review, there were no changes in the fundamental nature of your Company's business.

5. SHARE CAPITAL & LISTING

During the year, there was no change in the Authorized Capital of your Company. The Authorised Capital as on March 31, 2024, was 300 million comprising 300,000,000 Equity Shares of 1/- each.

The share capital movement during the year is tabulated below:

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Particulars Share Capital
(Face Value of ` 1 each)
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Capital at the beginningof theyear, i.e., as on April 01, 2023	204,901,506
Allotment made on November 20, 2023, pursuant to the exercise of options	1,002,445
(ESOP Scheme 2016) at an Exercise Price of`40.14/-,`76/-, and`359/-
per Option.
Capital at the end of theyear, i.e., as on March 31, 2024	205,903,951

Your Company has not issued shares with differential voting rights and sweat equity shares during the year under review.

Your Company has also not bought back any of its securities.

The shares of your Company continued to be listed at the National Stock Exchange of India Limited and BSE Limited.

Your Company confirms that it has paid the Annual Listing Fees for the year 2024-25 to National Stock Exchange of India Limited and BSE Limited.

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

3. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report pursuant to Regulation 34(2) read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, amended from time to time, (“Listing Regulations”) constitutes a distinct section within the Annual Report. The Audit Committee of your Company has reviewed the Management Discussion and Analysis Report of the Company for the year ended March 31, 2024.

4. DIVIDEND & TRANSFER TO RESERVES

The Dividend Distribution Policy as adopted and formulated by the Board pursuant to Regulation 43A of the Listing - Regulations is available on the website of your Company at https://www.latentview.com/investor relations/ corporate-governance/.

In line with the policy and considering the requirements to fund the growth prospects of the Company both organic and inorganic, your directors have not recommended any dividend for the Financial Year 2023-24.

Your Company did not have any amounts due or outstanding as on the Balance Sheet date to be credited to the Investor Education and Protection Fund.

During the Financial Year under review, your directors did not propose to transfer any amounts to the general reserves of your Company.

6. DIRECTORS AND KEY MANAGERIAL PERSONNEL(“KMP”)

As on March 31, 2024, the Board of Directors of your Company comprised of 6 Directors, viz., 2 Executive Directors and 4 Independent Directors including 1 woman Independent Director.

Appointment of Directors and Key Managerial Personnel:

There was no appointment of Directors/KMP during the year under review.

Reappointments: Nil

Director liable to retire by rotation:

As per the provisions of Section 152 of the Act, Pramadwathi Jandhyala (DIN: 00732854), Whole-Time Director, whose office is liable to retire at the ensuing 18[th] Annual General Meeting (AGM), being eligible, seeks reappointment. Based on the recommendation of the Nomination and Remuneration Committee, the Board recommends her reappointment. Brief profile of Pramadwathi Jandhyala (DIN: 00732854) is provided in the notes to the Notice of the 18[th] AGM.

Resignation:

There was no resignation of Directors/KMP during the year under review.

None of the Directors are disqualified under Section 164(2) of the Act.

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Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

7. INDEPENDENT DIRECTORS

The Board of Directors of your Company comprises optimal number of Independent Directors. The following Non-Executive Directors are independent in terms of Regulation 16(1)(b) of the Listing Regulations and Section 149(6) of the Act:

Dipali Sheth (DIN: 07556685)
Mukesh Butani (DIN: 01452839)
R. Raghuttama Rao (DIN: 00146230)
Reed Cundiff (DIN: 09241056)

Pursuant to the provisions of Section 149 of the Act, the Independent Directors have submitted declarations that each of them meets the criteria of independence as provided in Section 149(6) of the Act along with Rules framed thereunder and Regulation 16(1)(b) of the Listing Regulations. There has been no change in the circumstances affecting their status as independent directors of the Company.

Further, the Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, experience and expertise and they hold highest standards of integrity (including proficiency).

Your Company has established procedures to be followed for familiarizing the Independent Directors with their roles and responsibilities and business of the Company.

The details of the familiarization programmes imparted for Independent Directors are available on the website of the - - Company at https://www.latentview.com/investor relations/corporate governance/.

During the Financial Year 2023-24, a separate meeting of Independent Directors, without the participation of Non-Independent Directors and members of the Management was held on January 29, 2024.

8. DIRECTOR’S RESPONSIBILITY STATEMENT

The Financial Statements are prepared in accordance with Ind AS as prescribed under Section 133 of the Act, read with Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Rules, 2016, as amended thereof.

Pursuant to Section 134(3)(c) read with 134(5) of the Act, the Board of Directors of your Company hereby states and confirms that:

a) in the preparation of the Annual Accounts, the applicable Accounting Standards have been followed along with proper explanation relating to material departures;
b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the Financial Year and of the profit and loss of the Company for that period;
c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d) the Directors have prepared the annual accounts on a going concern basis;
e) the Directors, have laid down Internal financial controls to be followed by the Company and that such Internal financial controls are adequate and were operating effectively; and
f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

9. BOARD MEETINGS

The Board of Directors of the Company met five times during the year under review. The details of these meetings including the composition and attendance of the Directors are provided in the Corporate Governance Report forming part of the Annual Report. The necessary quorum was present for all the meetings. The intervening gap between the meetings was within the period prescribed under the provisions of Section 173 of the Act.

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LatentView Analytics Annual Report 2023-2024

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10. COMMITTEES OF THE BOARD

The Board of Directors of the Company has formed the below mentioned Committees, as per the provisions of the Act and as per Listing Regulations.

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information

Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

The Board

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Nomination & Corporate Social Stakeholders Banking &
Risk Management
Audit Committee Remuneration Responsibilty Committee Relationship Authorisation
Committee Committee Committee Committee
Mukesh Butani Dipali Sheth Pramadwathi Jandhyala R. Raghuttama Rao Reed Cundiff Pramadwathi Jandhyala
R. Raghuttama Rao R. Raghuttama Rao Dipali Sheth Reed Cundiff A.V. Venkatraman A.V. Venkatraman
Dipali Sheth Reed Cundiff A.V. Venkatraman Rajan Sethuraman Pramadwathi Jandhyala Rajan Sethuraman
Pramadwathi Jandhyala A.V. Venkatraman Rajan Bala Venkatesan
Chairperson Member
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The details with respect to the composition, terms of reference and number of meetings held during the year is provided in the Corporate Governance Report section forming part of the Annual Report.

All the recommendations made by the committees of the Board were accepted by the Board.

your Company did not initiate any applications, nor did it have any pending proceedings under the Insolvency and Bankruptcy Code, 2016.

11. CORPORATE GOVERNANCE

Your Company has taken adequate steps to adhere to all the stipulations laid down in Listing Regulations. A Corporate Governance Report is provided in this Annual Report.

your Company did not require valuation for one-time settlements or while obtaining loans from banks/ financial institutions at any point during the period under review.

Certificate from M/s. M. Alagar & Associates, Practicing Company Secretaries, confirming the compliance with the conditions of Corporate Governance as stipulated under the Listing Regulations is attached to Corporate Governance Report.

13. WHISTLE BLOWER POLICY - VIGIL MECHANISM

Pursuant to provisions of Section 177(9) of the Act and Regulation 22 of the Listing Regulations, your Company has adopted a Whistle Blower Policy and has established the necessary Vigil Mechanism for Directors and employees whereby direct access to the Chairperson of the Audit Committee was provided. This framework is designed to empower directors, employees, and other stakeholders to confidentially report any unethical behaviour, fraud and violations of our code of conduct, thereby safeguarding against victimization and promoting an ethical workplace.

12. SIGNIFICANT & MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNAL AND DISCLOSURE UNDER RULE 8(5)(XII) OF THE COMPANIES (ACCOUNTS) RULES, 2014

During the year under review,

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no significant or material orders were issued by regulators, courts, or tribunals against your Company that would affect its going concern status or future operations.

Your Company hereby affirms that during the year under review no incident reported under vigil mechanism and no person has been denied access to the Audit Committee. Whistle Blower policy is available on the website of your - - Company at https://www.latentview.com/investor relations/corporate governance/

LatentView Analytics Annual Report 2023-2024

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14. SUBSIDIARY COMPANIES

Your Company has following subsidiaries as on March 31, 2024:

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Latent View Analytics Limited

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LatentView Analytics LatentView Analytics LatentView Analytics LatentView Analytics
Corporation, USA B.V, Netherland Pte. Ltd, Singapore UK Ltd., UK
100% 100% 100% 100%
LatentView Analytics
GmbH, Germany
100%
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Providing an opportunity for the professional partners to become financial partners in the Equity of LatentView.
• Attracting and retaining top talent.

The Policy for determination of material subsidiaries of your Company is available on your Company’s website at - - https://www.latentview.com/investor relations/corporate governance/. According to the said policy, LatentView Analytics Corporation, USA is the material subsidiary of your Company.

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

As of March 31, 2024, your Company does not have any Associate Company/Joint Venture as defined under the provisions of the Act.

Further, pursuant to the Section 129(3) of the Act, a statement containing salient features of the Financial Statements of your Company’s Subsidiaries (including their performance and financial position) in Form AOC-1 is annexed to this report as “Annexure - 1”. Further, contribution of subsidiary(ies) to the overall performance of your Company is outlined in Note No.29 of the Consolidated Financial Statements.

Further, pursuant to the provisions of Section 136 of the Act, the Financial Statements of your Company (Standalone & Consolidated) along with Audit report and other relevant documents and audited Financial Statements of subsidiaries, are available on the Company’s website at https://www.latentview.com/investor-relations/fnancialresults-reports/

15. EMPLOYEE STOCK OPTION PLAN “ESOP”

Your Company has Employee Stock Option Plan 2016 as ESOP scheme in accordance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The principal objectives of this plan are to:

Rewarding the employees for their performance and contribution to the success and growth of LatentView.
Providing outsized rewards for outsized performance and create long-term wealth for LatentView and employees.

The details of stock options granted & exercised during the year are provided in Note No. 10.1.4 of the Standalone Financial Statements.

The Secretarial Auditor’s certificate on the implementation of share-based schemes in accordance with SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, will be placed at the 18[th] AGM for inspection by the members.

Further, pursuant to SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021, the applicable disclosure as on March 31, 2024 is uploaded on the website of your Company https://www.latentview.com/ investor-relations/fnancial-results-reports/

16. INTERNAL FINANCIAL CONTROLS

Internal Financial Controls are an integral part of the risk management process, addressing financial and financial reporting risks. It is commensurate with the size and nature of operations. The internal financial controls have been embedded in the business processes.

Assurance on the effectiveness of internal financial controls is done through monitoring and review process by management and internal auditors during the course of their audits. We believe that these systems provide reasonable assurance that our internal financial controls are designed effectively. The Audit Committee reviews the reports submitted by the Internal Auditors. Suggestions for improvement are considered and the corrective actions are undertaken.

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LatentView Analytics Annual Report 2023-2024

17. AUDITORS AND AUDIT REPORTS

- Statutory Auditors

The Auditors’ Report does not contain any qualification, reservation, or adverse remark on the Financial Statements for the Financial Year ended March 31, 2024. The Notes on Financial Statements referred to in the Auditors’ Report are self-explanatory and do not call for any further comments.

The current Statutory Auditors of the Company M/s. B S R & Co. LLP, Chartered Accountants (ICAI registration number 101248W/W-100022) will hold office till the conclusion of the 18[th] AGM of the Company. Based on the recommendations of the Audit Committee, the Board at its meeting held on January 29, 2024, has approved the appointment of M/s. Price Waterhouse & Co Chartered Accountants LLP, (Firm Registration No. 012754N/ N500016) as Statutory Auditors for a term of 5 years i.e., from the conclusion of the 18[th] AGM up to the conclusion of the 23[rd] AGM, subject to approval of the members.

M/s. Price Waterhouse & Co. Chartered Accountants LLP, have confirmed their eligibility and qualification as required under the Act and Listing Regulations for holding the office as Statutory Auditors of your Company.

- Secretarial Auditors

Pursuant to the provisions of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, M/s. M. Alagar & Associates, Practicing Company Secretaries, were appointed as the Secretarial Auditors to conduct the Secretarial audit for the year under review. The Secretarial Audit report pursuant to the Act read with Rules made thereunder and Regulation 24A of the Listing Regulations for the year under review in prescribed Form MR-3 is annexed to this Report as “Annexure - 2”.

- Internal Auditors

Pursuant to the provisions of Section 138 of the Act and the Companies (Accounts) Rules, 2014, M/s. BDO India LLP, Chartered Accountants, were appointed as the Internal Auditors to conduct the audit for the year under review.

The Internal Auditor of the Company reports functionally to the Audit Committee of the Company, which reviews and approves risk based annual internal audit plan. The Audit Committee periodically reviews the performance of internal audit function. The recommendations of the internal audit team on improvements required in the operating procedures and control systems are also presented to the Audit Committee, for the teams to use these tools to strengthen the operating procedures.

- Cost Auditors

The provisions of Section 148 of the Act and Companies (Cost Records and Audit) Rules, 2014 are not applicable to your Company.

During the year under review, the Statutory Auditors and Secretarial Auditors have not reported any instances of frauds committed in the Company by its officers or employees, to the Audit Committee under Section 143(12) of the Act, details of which needs to be mentioned in this Report.

18. ANNUAL RETURN

Pursuant to Section 92(3) and Section 134(3)(a) of the Act together with Rule 12 of the Companies (Management and Administration) Rules, 2014, your Company has placed a copy of the annual return as of March 31, 2024 on its website at https://www.latentview.com/investor-relations/fnancial-results-reports/

19. REWARDS & RECOGNITION

During the year under review, your Company was felicitated with:

Great Place to Work Certification 2023 to 2024
India’s Best Workplaces in IT & IT-BPM - November 2023
India’s Best Workplaces for Women - September 2023
Post-Pandemic Workplace of the Year - Bronze 2023 to 2024
Excellence in Cultivating a Culture of Trust and High Performance - Bronze - 2023 to 2024
NHRD Hosur - Employee Engagement Awards - Runner
NHRD Hosur - ESG - Winner
CSR Box Award

20. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

(A) Conservation of energy

Your Company has always been on the lookout for energy efficient measures of operation and values energy conservation through efficient utilization of the latest technologies. Efforts have been made to ensure optimal usage of energy, avoid wastage and conserve energy. The Company’s Global Delivery Centre in Chennai is located within a LEED Platinum rated green building campus wherein the 80% of our workforce operates. As an ongoing process the Company continues to undertake energy conservation measures to minimize the usage of energy. Below are some of our conscious efforts in energy conservation:

Continuous monitoring of floor areas after normal working hours and switching off lights.
Periodic UPS and AC maintenance to ensure efficient working of equipment. Further, all the old AC units installed in critical equipment rooms have been replaced with new, energy-efficient models. These new units use R410 refrigerant, which is environmentally friendly.
Migrating from in-house computing infrastructure to cloud resulting in significant energy and cost savings.
Efforts in removing dead loads during weekends. (turn off/plug out Heating elements of vending machines, turn off lighting circuits, ensure all manual operating loads are cut off etc).
An application is in place to monitor the Energy consumption and track it on a daily basis. 77% of our energy requirement of the Chennai campus is procured from renewable sources.

Cost of energy consumed by your Company forms an insignificant portion of the total costs and the financial impact of these measures is not material.

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(B) Technology absorption

LatentView continues to focus on applying the latest algorithms and technology for various business use cases in the Digital, BFSI, Industrial, Consumer Goods, and Retail domains. LatentView’s methodology combines various types of structured and unstructured data that may be available internally within the client’s company firewalls or externally in the public domain to get deeper insights into the client’s business.

In the past year alone, various LatentView teams have developed 10+ Gen AI domain-specific solutions for use cases in knowledge management, Marketing content evaluation, Customer support agent bots, Code generation, and Automated Insights generation. LatentView has developed these solutions in Azure (Copilot), Open AI, GCP, and Nvidia microservices platforms. LatentView believes these Gen AI solutions are poised to become mainstream in the coming year and will allow our clients to tap into unstructured data silos such as text, video, images, and voice to improve end-user satisfaction, increase employee productivity, and better business decisions.

LatentView continues to invest in partnerships with Microsoft Fabric, Databricks, Nvidia, no code low code platforms such as Power platform, and cloud providers such as Azure, GCP, and AWS. This would enable LatentView consultants to use Data Engineering, Data Science, Business analysis, and Visualization capabilities to develop insightful analytics solutions for clients.

Expenditure incurred on Research and Development during the year is Nil

(C) Foreign exchange earnings and Outgo

During the Financial Year under review, your Company had foreign exchange earnings of 2,634.09 millions and Foreign Exchange Outgo of 1,066.40 millions, which includes loan to wholly owned subsidiaries amounting to 272.06 millions granted to LatentView Analytics Corporation and 791.99 millions granted to LatentView Analytics B.V.

21. DEPOSITS

Your Company has not accepted any deposits during the year under review falling within the ambit of Section 73 of the Act read with the Companies (Acceptance of Deposits) Rules, 2014.

22. DISCLOSURES AS REQUIRED UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013

Your Company is dedicated to providing a healthy work environment to all employees, free from any form of prejudice or gender bias. In line with the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013, and the applicable rules Company has implemented a gender-neutral Policy for Prevention, Prohibition and Redressal of Sexual Harassment at Workplace (“POSH”) and constituted an Internal Complaints Committee (“ICC”).

Your Company has also established a grievance procedure for protection against victimization.

Following are some of the programs and initiatives in place to train employees and the ICC for POSH during the year:

All employees are required to undergo a mandatory e-learning module on "Prevention of Sexual Harassment at Workplace."
In person workshops are organised for ICC Members, HR personnel and for Managers and employees at a specified grade level.
All new joiners are trained on Prevention of Sexual Harassment during their induction program.
The constitution of the ICC is prominently displayed within the office premises and is regularly disseminated to employees via email.

The Policy for Prevention, Prohibition and Redressal of Sexual Harassment at Workplace is available on the - - Intranet and also on the website of your Company at https://www.latentview.com/investor relations/corporate governance/ for employees to access as and when required.

During the year under review, there were no POSH complaints filed with ICC.

23. PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS

Pursuant to Section 134(3)(g) of the Act, particulars of loans, guarantees and investments under Section 186 of the Act made by your Company are set out in Note No. 14 to the Standalone Financial Statements of your Company.

24. RELATED PARTY TRANSACTIONS

In line with the requirements of the Act and the Listing Regulations, your Company has formulated a Related Party Transactions (RPT) Policy which is being periodically reviewed by the Audit Committee and approved by the - Board. The RPT Policy is available on your Company’s website at https://www.latentview.com/investor relations/ corporate-governance/

All transactions entered into with related parties during the year under review were in the ordinary course of business and on an arm’s length basis and were approved by the Audit Committee and the Board of Directors.

During the year under review there were no material transactions entered by the Company with any of its related parties necessitating approval of the members.

Certain repetitive transactions were approved through the omnibus route and are reviewed quarterly by the Audit Committee and Board.

Particulars of the contracts, arrangements or transactions entered during Financial Year 2023-24 that fall under the scope of Section 188(1) of the Act in the prescribed Form AOC-2 is annexed to this report as “Annexure – 3”.

Pursuant to Regulation 23(9) of the Listing Regulations, your Company has filed the reports on related party transactions with the Stock Exchanges.

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LatentView Analytics Annual Report 2023-2024

25. RISK MANAGEMENT

Your Company's Risk Management practice ensures that the long-term vision and mission of your Company are sustained. The practice identifies, assesses, and prioritizes risks, and implements effective strategies to mitigate them. It continuously evaluates the various risks surrounding the business and seeks to review and upgrade its risk management process. To further endeavour, your Board constantly formulates strategies directed at mitigating these risks which get implemented at the executive management level and a regular update is provided to the Board.

The composition of the Risk Management Committee, terms of reference are included in the Corporate Governance Report which forms part of this Report.

The level of business and financial risk inherent in your Company's operations is commensurate with that of other firms operating in the same industry. Your Company has a robust enterprise risk management framework to identify and evaluate business risk opportunities. This framework seeks to create transparency, minimise adverse impact on the business objectives and enhance your Company’s competitive advantage. The said Risk Management Policy is - - available on your Company’s website at https://www.latentview.com/investor relations/corporate governance/

26. CORPORATE SOCIAL RESPONSIBILTY (CSR)

Your Company has a Corporate Social Responsibility Policy which is uploaded on website of the Company at - - https://www.latentview.com/investor relations/corporate governance/. Further, Annual Report on CSR including a brief outline of the CSR Policy and the activities undertaken during the year under review pursuant to Section 134 and 135 of the Act read with Rule 8 of the Companies (Corporate Social Responsibility Policy) Rules, 2014 and Rule 9 of the Companies (Accounts) Rules, 2014 is attached to this report as “Annexure - 4”.

27. BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

Pursuant to Regulation 34(2)(f) of the Listing Regulations, your Company is providing the prescribed disclosures on ESG parameters as part of the Business Responsibility and Sustainability Report (“BRSR”), which is annexed to this report as “Annexure - 5”. The BRSR includes details on performance against the nine principles of the National Guidelines on Responsible Business Conduct and a report under each principle, which is divided into essential and leadership indicators.

28. BOARD EVALUATION

Pursuant to provisions of the Act and the Listing Regulations, annual performance evaluation of the Directors including the Chairperson, Board and its Committees has been carried out. As part of the evaluation process, individual criteria for each of the exercise was formulated. Each member of the Board/Committee/Director was sent a formal questionnaire to evaluate different categories based on several parameters. According to the Act and Listing Regulations, they had to rate each parameter individually. The evaluations were presented to the Board, Nomination and Remuneration Committee, and the Independent Directors Meeting for review.

29. PARTICULARS OF REMUNERATION TO DIRECTOR AND EMPLOYEES

The remuneration paid to the directors is in accordance with the Nomination and Remuneration Policy formulated in accordance with Section 178 of the Act and Regulation 19(4) read with Part D of Schedule II of the Listing Regulations (including any statutory modification(s) or re-enactment(s) thereof for the time being in force).

Details of ratio of remuneration to each Director to the median employee’s remuneration and details of remuneration paid to employees is annexed to this report as “Annexure - 6”.

The statement comprising the names of top 10 employees in terms of remuneration drawn and every person employed throughout the year, who were in receipt of remuneration in terms of Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, forms an integral part of this report. However, the same is not being sent along with this Annual Report to the Members of the Company in line with the provision of Section 136 of the Act. Members who are interested in obtaining these particulars may write to [email protected].

30. SECRETARIAL STANDARDS

Pursuant to the provisions of Section 118(10) of the Act, Company complies with all applicable mandatory Secretarial Standards as issued by the Institute of Company Secretaries of India (“ICSI”).

31. DIRECTORS & OFFICERS INSURANCE POLICY

Your Company has in place an insurance policy for its Directors & Officers with a quantum and coverage as approved by the Board. The policy complies with the requirement of Regulation 25(10) of Listing Regulations.

32. CODE FOR PREVENTION OF INSIDER TRADING

In accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the Company has in place following policies/codes and the same are available on the website of the Company at https://www.latentview.com/ investor-relations/corporate-governance/:

Code of practices and procedures for fair disclosure of Unpublished Price Sensitive Information;
Policy for Procedure of Inquiry in case of Leak or suspected leak of Unpublished Price Sensitive Information.

This code lays down guidelines advising the management, Designated Persons and other connected persons, on procedures to be followed and disclosures to be made by them while dealing with the shares of the Company, and while handling any Unpublished Price Sensitive Information, cautioning them of the consequences of violations.

All compliances relating to Code of Conduct for Prevention of Insider Trading are being managed through a webbased portal installed by the Company.

In Compliance with the abovementioned Regulations, Structural Digital Database (SDD) was maintained by your Company and necessary entries were made to monitor and record the flow of sharing of Unpublished Price Sensitive Information. Adequate training was provided to all employees on the compliance procedures provided in the SEBI (Prohibition of Insider Trading) Regulations, 2015.

33. ACQUISITION

During the year under review, the Board of Directors at their meeting held on March 28, 2024 has approved acquisition of Decision Point Private Limited, a Delhi headquartered Company, leader in AI Business Transformation and Revenue Growth Management Solutions with 300+ employees worldwide. The Company brings deep experience in Demand Forecasting, Pricing Analytics, Promotion Analytics, Retail Segmentation, and Marketing mix models with a focus on CPG brands.

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34. MATERIAL CHANGES AND COMMITMENTS

There are no material changes and commitments affecting the financial position of the Company that have occurred between the end of the Financial Year of the Company to which the Financial Statements relate and till the date of this Report.

35. ACKNOWLEDGEMENT

Your Directors would like to place on record their gratitude for all the guidance and co-operation received from all its clients, vendors, bankers, financial institutions, business associates, advisors, and regulatory and government authorities. Your Directors also take this opportunity to thank all its shareholders and stakeholders for their continued support and all the employees for their valuable contribution and dedicated service.

By order of the Board of Directors

FOR LATENT VIEW ANALYTICS LIMITED

PRAMADWATHI JANDHYALA

A.V. VENKATRAMAN

Executive Chairperson Whole-Time Director (DIN: 01240055) (DIN: 00732854)

Board’s Report

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Place: Chennai Date: May 07, 2024

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Annexure - 1 to the Board’s Report

Form AOC-1

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(Pursuant to the first proviso to sub-section (3) of Section 129 read with rule 5 of Companies (Accounts) Rules, 2014)

The statement containing salient features of the Financial Statement of Subsidiaries or Associate Companies or Joint Ventures

PART A – SUBSIDIARIES

(Amount in ` million)

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Sr. No. 1 2 3 4 5
Name of the subsidiary LatentView Analytics LatentView Analytics Pte LatentView Analytics UK LatentView Analytics LatentView Analytics
Corporation Limited Limited B.V. GmbH
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Sr. No.	1	2	3	4	5
Name of the subsidiary	LatentView Analytics Corporation	LatentView Analytics Pte Limited	LatentView Analytics UK Limited	LatentView Analytics B.V.	LatentView Analytics GmbH
Country USA Singapore UK Netherlands Germany(Stepdown subsidiary)
The date since when subsidiarywas acquired July14, 2009 January06, 2012 December 11, 2013 April 11, 2017 April 01, 2018
Reporting period for the subsidiary concerned April 01, 2023 – March 31, 2024 April 01, 2023 – March 31, 2024 April 01, 2023 – March 31, 2024 April 01, 2023 – March 31, 2024 April 01, 2023 – March 31, 2024
Reportingcurrency USD SGD GBP Euro Euro
Exchange rate on the last day of the Financial Year 83.34 61.77 105.22 90.10 90.10
Share capital 0.00 0.84 1.97 1.52 1.94
Reserves & surplus 2,718.78 174.51 (123.55) (42.22) (2.05)
Total assets 4,028.67 185.89 428.58 821.95 584.56
Total Liabilities (1,309.89) (10.54) (550.16) (862.65) (584.67)
Investments - - - - -
Turnover 5,991.28 71.96 36.86 24.98 82.69
Proft/(loss) before taxation 546.18 32.50 (96.03) (36.35) (15.48)
Provision for taxation 24.90 (4.47) - - 2.49
Proft/(loss) after taxation 571.08 28.03 (96.03) (36.35) (12.98)
Proposed Dividend - - - - -
% of shareholding 100 100 100 100 100

The numbers reported above are based on Standalone annual Financial Statements prepared under local GAAP converted in Indian rupees.

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Notes:

Names of subsidiaries which are yet to commence operations: Nil
Names of subsidiaries which have been liquidated or sold during the year: Nil
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PART B – ASSOCIATES AND JOINT VENTURES: Not applicable as there are no Associates Companies/Joint Ventures of the Company as on March 31, 2024.

By order of the Board of Directors

FOR LATENT VIEW ANALYTICS LIMITED

Pramadwathi Jandhyala A.V. Venkatraman Whole-Time Director Chairperson DIN No: 00732854 DIN No: 01240055 Rajan Sethuraman Rajan Bala Venkatesan Srinivasan. P Chief Executive Officer Chief Financial Officer Company Secretary

Place: Chennai Date: May 07, 2024

Notice to the AGM

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Annexure - 2 to the Board’s Report

Form No. MR-3

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Secretarial Audit Report for the Financial Year ended March 31, 2024

[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014]

b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

To, The Members,

LATENT VIEW ANALYTICS LIMITED

c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by LATENT VIEW ANALYTICS LIMITED (hereinafter called the “Company”). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

d) The Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021;
e) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding dealing with client;

Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the Financial Year ended March 31, 2024 (“Audit Period”) complied with the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

f) The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;
g) The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018;

We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the Financial Year ended March 31, 2024 according to the provisions of:

h) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021; (There were no events requiring compliance during the audit period)
The Companies Act, 2013 (‘Act’) and the Rules made thereunder, as amended from time to time including Secretarial Standards issued by the Institute of Company Secretaries of India (‘ICSI’) and notified as on date;
i) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; (There were no events requiring compliance during the audit period)
The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder, as amended from time to time;
All other relevant applicable laws including those specifically applicable to the Company, a list of which has been provided by the management. The examination and reporting of these laws and rules are limited to whether there are adequate systems and processes are in place to monitor and ensure compliance with those laws.
The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder, as amended from time to time;

During the period under review, the Company has generally complied with the provisions of the Act, Rules, Regulations, Guidelines and Standards, etc., mentioned above to the extent where such records have been examined by us.

Foreign Exchange Management Act, 1999 and the Rules and Regulations made thereunder to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings, as amended from time to time;

We further report that based on the explanation given, information received, and process explained, there are adequate systems and processes in the Company commensurate with the size and operations of the Company to monitor and ensure compliance with applicable labour laws, rules, regulations and guidelines.

The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’), as amended from time to time:
a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

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Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

We further report that the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors, Independent Directors and Woman Director. There were no changes in the composition of the Board of Directors during the period under review.

We further report that adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent to them at least seven days in advance or as the case may be, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

As per the minutes, the decisions at the Board Meetings were taken unanimously and there was no instance of dissent by any director during the period under review.

For M. Alagar & Associates Practising Company Secretaries Peer Review Certificate No:1707/2022

M. Alagar

Managing Partner FCS No: 7488/CoP No.: 8196 UDIN: F007488F000327896

Place: Chennai Date: May 07, 2024

We further report that during the audit period, except the events listed below, no other specific events/actions occurred which had major bearing on the Company’s affairs in pursuance of the above referred laws, rules, regulations, guidelines, etc., and that the Company has complied with such of those relevant clauses thereto which are applicable:

(i) Allotment of 10,02,445 equity shares pursuant to exercise of options under the Employees Stock Options Plan, 2016 on November 20, 2023;
(ii) On March 28, 2024, the Board of Directors of the Company has approved the strategic investment to acquire up to 100% of the total paid-up equity share capital of Decision Point Private Limited and executed Share Purchase agreement (‘SPA’) and Shareholders Agreement (‘SHA’). The Acquisition will be completed subject to complying with certain terms and conditions of SPA and SHA.

This Report is to be read with our letter of even date which is annexed as Annexure A and forms an integral part of this report.

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LatentView Analytics Annual Report 2023-2024

‘Annexure A’

Annexure to Secretarial Audit Report

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement

To,

The Members

LATENT VIEW ANALYTICS LIMITED

Our report of even date is to be read along with this letter:

Maintenance of Secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records based on our audit.
We have followed the audit practices and process as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in Secretarial records. We believe that the process and practices, we followed provide a reasonable basis for our opinion.
We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.
Wherever required, we have obtained the Management representation about the Compliance of laws, rules and regulations and happening of events etc.
The Compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of management. Our examination was limited to the verification of procedure on test basis.
The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.
We further report that, based on the information provided by the Company, its officers, and authorised representatives during the conduct of the audit and also on the review of quarterly compliance reports issued by the respective departmental heads/Company Secretary, taken on record by the Board of the Company, in our opinion adequate systems and process and control mechanism exist in the Company to monitor compliance with applicable general laws including labour laws.
Notice to the AGM

For M. Alagar & Associates Practising Company Secretaries Peer Review Certificate No:1707/2022

M. Alagar Managing Partner FCS No: 7488/CoP No.: 8196 UDIN: F007488F000327896

Place: Chennai Date: May 07, 2024

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LatentView Analytics Annual Report 2023-2024

Annexure - 3 to the Board’s Report

Form No. AOC-2

Strategic Review

2. Statutory Reports Corporate Information

Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(Pursuant to clause (h) of sub-section (3) of Section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)

Form for disclosure of particulars of contracts/arrangements entered into by the Company with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso thereto

2. Details of material contracts or arrangement or transactions at arm’s length basis:

1. Details of contracts or arrangements or transactions not at arm’s length basis:

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Sr. No. Particulars Details
----- End of picture text -----

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----- Start of picture text -----

Sr. No. Particulars Details
----- End of picture text -----

a)	Name(s) of the relatedpartyand nature of relationship	Nil
b)	Nature of contracts/arrangements/transactions
c)	Duration of the contracts/arrangements/transactions
d)	Salient terms of the contracts or arrangements or transactions	There were no transactions or
	includingthe value, if any	arrangements which were not
e)	Justifcation for entering into such contracts or arrangements or	at arm’s length and which were
	transactions	not in the ordinary course of
f)	Date(s) of approval bythe Board	business during Financial Year 2023-24.
g)	Amountpaid as advances, if any
h)	Date on which the special resolution was passed in general
	meetingas required under frstproviso to Section 188

(a)	Name(s) of the related party and nature of relationship	LatentView Analytics
		Corporation (Wholly Owned
		Subsidiary)
(b)	Nature of contracts/arrangements/transactions	Sale of Services
(c)	Duration of the transactions	FY 2023-24
(d)	Salient terms of the contracts or arrangements or transactions	`2,586.52 millions
	includingthe value, if any
(e)	Date(s) of approval bythe Board	January24, 2023
(f)	Amountpaid as advances, if any	Nil

By order of the Board of Directors

FOR LATENT VIEW ANALYTICS LIMITED

A.V. VENKATRAMAN

Executive Chairperson (DIN: 01240055)

PRAMADWATHI JANDHYALA

Whole-Time Director (DIN: 00732854)

Place: Chennai Date: May 07, 2024

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LatentView Analytics Annual Report 2023-2024

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75
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Annexure - 4 to the Board’s Report

Annual Report on CSR

Strategic Review

2. Statutory Reports Corporate Information

Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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(Pursuant to Section 134(3)(o) of the Act and Rule 8 of the Companies (Corporate Social Responsibility) Rules, 2014)

1. Brief Outline on CSR Policy of the Company:

At LatentView, we believe in the power of collective action by investing in communities and embracing ethical practices and making a positive impact that resonates far and wide.

Key CSR Focus Areas of Latentview

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Primary Focus Secondary Focus
Education & livelihood Environmental
Sustainability
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a) To ensure that the Company is committed to operate its business in an economically, socially and environmentally sustainable manner, while recognizing the interests of all its stakeholders.
b) To take up programmes that benefit the communities in and around the Company/stakeholders and over a period of time, results in enhancing the quality of life of the people in the area of its business operations.
c) To generate community goodwill for the Company and help reinforce a positive and socially responsible image of Company as a good corporate citizen of the Country.
d) The Company aims to fulfil the requirements laid down under the Companies Act, 2013 and act diligently to comply with all its Rules and Regulations on CSR.

2. Composition of CSR Committee:

The CSR Committee is comprised of following directors:

Sr. No.	Name of Director	Nature of Directorship	Position	Number of meetings of CSR Committee held during the year	Number of meetings of CSR Committee attended during the year
1 Pramadwathi Jandhyala Whole-Time Director Chairperson 2 2
2 A.V. Venkatraman Whole-Time Director Member 2 2
3 Dipali Sheth Independent Director Member 2 2

Web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the Company:

CSR Committee: https://www.latentview.com/investor-relations/corporate-information/ - - CSR Policy: https://www.latentview.com/investor relations/corporate governance/ CSR Projects approved by the Board: https://www.latentview.com/investor-relations/fnancial-results-reports/

Executive Summary along with web-link(s) of Impact Assessment of CSR Projects carried out in pursuance of sub-rule (3) of rule 8, if applicable:

Not Applicable

5. CSR obligation for the Financial Year:

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Sr. No. Particulars (` in millions)
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a)	Average netproft of the Companyasper sub-section (5) of Section 135	1101.8
b)	Two percent of average net proft of the Company as per sub-section (5)	22.04
	of Section 135
c)	Surplus arising out of the CSR Projects or programmes or activities of the	Nil
	previous Financial Years
d)	Amount required to be set-off for the Financial Year, if any	Nil
e)	Total CSR obligation for the Financial Year [(b)+(c)-(d)]	22.04

LatentView Analytics Annual Report 2023-2024

6. Details of CSR amount spent:

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)|Sr. No. Particulars (in millions)|Sr. No.
Particulars
(in millions)| |---|---|---|---|---|---|---|---|---|---|---|---|---|---|---| |a. Amount spent on CSR Projects 22.07||||||||||||||| |b. Amount spent in administrative overheads Nil||||||||||||||| |c. Amount spent on Impact Assessment, if applicable NA||||||||||||||| |d. Total amount spent for the Financial Year [(a)+(b)+(c)] 22.07||||||||||||||| |e. CSR amount spent or unspent for the Financial Year:||||||||||||||| |Total Amount Spent for the Financial Year (in millions)|||Amount Unspent (in millions)|||||||||||| ||||Total Amount transferred to Unspent CSR Account as per Section 135(6)|||||Amount transferred to any fund specifed under Schedule VII as per second proviso to Section 135(5)||||||| ||||Amount|||Date of transfer||Name of the Fund||Amount|||Date of transfer|| |22.07|||||NA|||||||||| |f. Details of amount spent against other than ongoing projects for the Financial Year:||||||||||||||| |Sr. No.|Name of the Project|Item from the list of activities in schedule VII to the Act||Local area (Yes/No)|Location of the project||||Amount spent for the project||Mode of implementation -|Mode of implementation - Through implementingagency||| ||||||State||District||(in lakhs)||Direct (Yes/No)|Name||CSR registration
number|
|1.
Eureka Superkidz program
(ii) PromotingEducation
No|||||Tamil Nadu
Ramanathapuram
10.53
No|||||||AID India
CSR00000027|||
|2.
RTE & e – Sevai
(ii) Promoting Education &
Livelihood enhancement
Yes|||||Tamil Nadu
RTE: Chennai, Ariyalur, Thiruvallur,
Kancheepuram, Chengalpattu,
Cuddalore and Dharmapuri.
e – Sevai: 38 Tamil Nadu districts
24.3
No|||||||Indus Action
Initiatives
CSR00004098|||
|3.
Towards a Cleaner
Velachery
(iv) Ensuring Environmental
sustainability
Yes|||||Tamil Nadu
Chennai
17.51
No|||||||Sahaas
CSR00000097|||
|4.
Higher Education
Scholarship Program and
Career Guidance
(ii) Promoting Education
Yes|||||Tamil Nadu
Tiruvallur
25.30
No|||||||Sevalaya
CSR00000863|||
|5.
Chennai Kaalpandhu
League
(ii) Promoting Sports
Education
Yes|||||Tamil Nadu
Chennai
57.10
No|||||||Sportz Village
Foundation
CSR00001045|||
|6.
Teacher Training and setting
up resource room for
LearningDisability
(ii) Promoting Education
Yes|||||Tamil Nadu
Chennai, Kanchipuram, Tiruvallur
15.05
No|||||||Madras Dyslexia
Association
CSR00000202|||
|7.
Google Future Classrooms
(ii) PromotingEducation
Yes|||||Tamil Nadu
Kanchipuram
1.38
No|||||||Yuva Unstoppable
CSR00000473|||
|8.
Project Apoorva
(ii) Promoting Education
Yes|||||Tamil Nadu
Chennai
69.49
No|||||||Learning Links
Foundation
CSR00000640|||
|Total|||||220.66||||||||||

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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information

Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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g. Excess amount for set-off, if any:
Sr. No. Particular Amount (` in millions)
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(i)	Twopercent of average netproft of the Companyasper sub-section (5) of Section 135	22.04
(ii)	Total amount spent for the Financial Year	22.07
(iii)	Excess amount spent for the Financial Year [(ii)-(i)]	0.03
(iv)	Surplus arisingout of the CSRprojects orprogrammes or activities of theprevious Financial Years, if any	Nil
(v)	Amount available for set off in succeedingFinancial Years [(iii)-(iv)]	Nil

*The Company intends not to set off the excess CSR expenditure made in FY 2023-24.

Details of Unspent Corporate Social Responsibility amount for the preceding three Financial Years:

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Sr. Preceding Financial Amount transferred to Balance Amount in Amount spent in the Amount transferred to a Fund specified under Amount remaining to Deficiency, if any
No. Year(s) Unspent CSR Account Unspent CSR Account Financial Year (in ) Schedule VII as per second proviso to sub- be spent in succeeding under sub-section (6) under the sub-section section (5) of Section 135, if any Financial Years (in)
of Section 135 (in ) (6) of Section 135 Amount (in) Date of Transfer
(in `)
Nil
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Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the Financial Year: No
Specify the reason(s), if the Company has failed to spend two per cent of the average net profit as per sub-section (5) of Section 135. Not Applicable

By order of the Board of Directors

FOR LATENT VIEW ANALYTICS LIMITED

A.V. VENKATRAMAN

Executive Chairperson (DIN: 01240055)

PRAMADWATHI JANDHYALA

Whole-Time Director and Chairperson of CSR Committee (DIN: 00732854)

Place: Chennai Date: May 07, 2024

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LatentView Analytics Annual Report 2023-2024

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78
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Annexure - 5 to the Board’s Report

Business Responsibility & Sustainability Report

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

SECTION A: GENERAL DISCLOSURES

I. Details of the listed entity

1. Corporate Identity Number (CIN) of the Listed Entity	L72300TN2006PLC058481
2. Name of the Listed Entity	Latent View Analytics Limited
3. Year of Incorporation	January03,2006
4. Registered offce address	5thFloor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai,Taramani Chennai,Chennai,India 600113
5. Corporate offce address	5thFloor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai,Taramani Chennai,Chennai,India 600113
6. E-mail	[email protected]
7. Telephone	91 44 4344 1700
8. Website	https://www.latentview.com/
9. The Financial Year for which reportingis beingdone	2023-24
10. Name of the Stock Exchange(s) where shares are listed	National Stock Exchange of India Limited & BSE Limited
11. Paid-upcapital	`20,59,03,951
12. Name and contact details of the person who may be contacted in case of any queries on the BRSR report	Rajan Bala Venkatesan - Chief Financial Offcer Contact - 044 4344 1700 E-mail - [email protected]
13. ReportingBoundary	Standalone basis
14. Name of assuranceprovider	NA*
15. Type of assurance obtained	NA*

*As a voluntary measure, limited assurance for the data related to Energy and Emissions was conducted by Bureau Veritas, which is highlighted in Principle 6.

II. Products/services

16. Details of business activities (accounting for 90% of the turnover)

Sr. No	Description of Main activity	Description of Business Activity	% of Turnover of the entity
1. Information service activity Latent View is dedicated to helping clients derive meaningful business insights, driving growth through a thoughtful and sustainable approach through data analytics and AI. 100

17. Products/services sold by the entity (accounting for 90% of the entity’s turnover)

Sr. No	Product/Service	NIC Code	% of total Turnover contributed
1. Other dataprocessing, hostingand related activities n.e.c. 63119 100

III. Operations

18. Number of locations where plants and/or operations/offices of the entity are situated

Location	Number of plants	Number of offces	Total
National NA 2 2
International NA 8 8

19. Markets served by the entity

a. Number of locations

Locations	Number
National (No. of states) 2
International (No. of countries) 6

b. What is the contribution of exports as a percentage of the total turnover of the entity?

Our Exports contribute to 90.35 % of the total turnover.

c. A brief on types of customers

We collaborate with leading B2B & B2C clients across various sectors including technology, industrial, consumer packaged goods (CPG), retail, and BFSI (banking, financial services, and insurance).

IV. Employees

20. Details as of March 31, 2024

a. Employees and workers (including differently abled)

Sr. No.	Male	Male	Female	Female
	No. (B)	% (B/A)	No. (C)	% (C/A)
EMPLOYEES
1 Permanent (D) 1082	674 62.29% 408 37.70%
2 Other than Permanent (E) 30	23 76.67% 7 23.33%
3 Total employees (D+E) 1112	697 62.68% 395 35.52%

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

a. Employees and workers (including differently abled) (Contd.)

Sr. No.	Male	Male	Female	Female
	No. (B)	% (B/A)	No. (C)	% (C/A)
WORKERS
1 Permanent (F) NA	- - - -
2 Other than Permanent (G) NA	- - - -
3 Total workers (F+G) NA	- - - -

b. Differently abled employees and workers

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Sr. Particulars Total (A) Male Female
No.
No. (B) % (B/A) No. (C) % (C/A)
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DIFFERENTLY ABLED EMPLOYEES	DIFFERENTLY ABLED EMPLOYEES	DIFFERENTLY ABLED EMPLOYEES
1	Permanent (D)		1	1	100%	-	-
2	Other than Permanent	(E)	-	-	-	-	-
3	Total differently-abled		1	1	100%	-	-
	employees (D+E)
DIFFERENTLY ABLED WORKERS
1	Permanent (F)		NA	-	-	-	-
2	Other than Permanent	(G)	NA	-	-	-	-
3	Total differently	abled	NA	-	-	-	-
	workers (F+G)

21. Participation/inclusion/representation of women

	No. and percentage of females	No. and percentage of females
	No. (B)	% (B/A)
Board of Directors 6	2 33%
KeyManagement Personnel 3	- -

22. Turnover rate for permanent employees and workers

		FY 2023-24	FY 2023-24	FY 2023-24	FY 2023-24	FY 2022-23	FY 2022-23	FY 2022-23	FY 2022-23	FY 2022-23	FY 2021-22	FY 2021-22	FY 2021-22
		Male	Female		Total	Male		Female	Total		Male	Female	Total
Permanent Employees		25.07 17.64 22.27 26 23 25 47 37 43
Permanent Workers		NA NA NA NA NA NA NA NA NA
V. Holding, Subsidiary and Associate Companies (including joint ventures) 23. 1. Names of holding/subsidiary/associate companies/joint ventures:
Sr. No.	Name of Holding/ Subsidiary/Associate Companies/Joint Venture (A)			Indicate whether Holding/ Subsidiary/ Associate/Joint Venture			% of shares held by listed entity			Does the entity indicated in column A, participate in the Business Responsibility initiatives of listed entity? (Yes/No)
1 LatentView Analytics Corporation, USA Subsidiary 100% No
2 LatentView Analytics Pte. Ltd., Singapore Subsidiary 100% No
3 LatentView Analytics UK Ltd, United Kingdom Subsidiary 100% No
4 LatentView Analytics B.V., Netherlands Subsidiary 100% No
5 LatentView Analytics GmbH, Germany Step down Subsidiary 100% No

VI. CSR Details

24. (i) Whether CSR is applicable as per Section 135 of Companies Act, 2013: Yes

a. Turnover (in `): 2,915.15 millions

b. Net worth (in `): 11,017.32 millions

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LatentView Analytics Annual Report 2023-2024

VII. Transparency and Disclosures Compliances

Complaints/grievances on any of the principles (Principles 1 to 9) under the National Guidelines on Responsible Business Conduct (NGRBC)
Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Stakeholder group from whom complaint is received Grievance Redressal Mechanism in Place (Yes/No)	FY 2023-24 FY 2022-23
	Number of complaints fled during the year Number of complaints pending resolution at close of theyear Remarks Number of complaints fled during the year Number of complaints pending resolution at close of theyear Remarks
Communities Yes	- - - - -
Investors (other than shareholders) Yes1	- - - 17 -
Shareholders Yes1	- - - - -
Employees and workers Yes2	- - - - -
Customers Yes	- - - - -
Value Chain Partners Yes3	- - - - -
1Investor Grievance Redressal Policy: https://www.latentview.com/wp-content/uploads/2023/10/investor-grievance-redressal-policy.pdf 2Employee Redressal Policy: Available in the Organization’s Intranet 3Sustainable Procurement Policy: https://www.latentview.com/wp-content/uploads/2024/02/sustainable-procurement-policy.pdf

26. Overview of the entity’s material responsible business conduct issues

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Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or
mitigate the risk:
Sr. Material issue Indicate Rationale for identifying the risk/opportunity In case of risk, approach to adapt or mitigate Financial implications of
No. identified whether risk the risk or opportunity
or opportunity (Indicate positive or negative
(R/O) implications)
----- End of picture text -----*

1.	Energy	Opportunity	Since electricity consumed in our operation is the main energy	Not Applicable	Positive
	Management		source, LatentView has identifed opportunities to reduce its
			energy consumption through energy conservation measures,
			which reduces our carbon footprint and operational costs.
2.	Carbon Emissions	Opportunity	At LatentView, we are dedicated to learning more about	Using Renewable Energy:Since Latentview doesn’t directly control the	Positive
			climate change and its effects. This greater understanding has	electricity used in our operations, we include sustainability aspects in selecting
			led us to adopt more environmentally friendly products and	our workspaces. Also we will be purchasing Renewable energy certifcates for the
			practices quickly.	Non-Renewable electricity used in our operations.
				Upgrading Refrigerants:We are switching from refrigerants that contribute a
				lot to global warming to ones that have a much lower impact on the environment.
				Sustainable Actions:We are always looking for and implementing various other
				sustainable practices in our operations to reduce our Scope 1, 2 &3 emissions
				Through these efforts, we aim to signifcantly cut down our carbon emissions and
				helpfght climate change.

26. Overview of the entity’s material responsible business conduct issues (Contd.)

Please indicate material responsible business conduct and sustainability issues pertaining to environmental and social matters that present a risk or an opportunity to your business, rationale for identifying the same, approach to adapt or mitigate the risk*:

Strategic Review CompanyOverview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainabilityat LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report Financial Statements Consolidated Financial Statement Standalone Financial Statement Notice to the AGM LatentView Analytics Annual Report 2023-2024 1. 2. 3. 4.	Sr. No.	Material issue identifed	Indicate whether risk or opportunity (R/O)	Rationale for identifying the risk/opportunity	In case of risk, approach to adapt or mitigate	Financial implications of the risk or opportunity (Indicate positive or negative implications)
	3. Diversity and Inclusion Opportunity At LatentView, we believe that diversity is essential for innovation and growth. A diverse workforce brings varied perspectives and ideas, which is crucial for solving complex problems and driving our mission forward. We are dedicated to fostering an inclusive work culture where every employee feels valued and respected. This includes implementing policies and practices that support diversity in all forms, including gender, ethnicity, and background. Not Applicable Positive
	4. Data security (Data privacy/ Cyber security) Risk At LatentView, data protection and privacy are fundamental to our business operations. With the increasing reliance on digital technologies and the shift towards remote working, ensuring the security and confdentiality of data has become more critical for our operations. Data Breaches can lead to signifcant fnancial and reputational losses and legal consequences. We have a robust data protection and cyber security policy which sets forth limits, mitigation strategies and internal controls. We adhere strictly to all relevant data protection regulations, standards, and other international, national, and industry-specifc regulations. We have established comprehensive privacy policies that outline how data is collected, used, stored, and shared. These policies are transparent and easily accessible to all stakeholders, ensuring that everyone understands our commitment to data protection. Ensuring that all employees are aware of data protection best practices is a priority. We provide regular training sessions on data privacy, cybersecurity, and safe handling of sensitive information. We have a robust incident response plan in place to quickly and effectively respond to any data breaches or security incidents. This includes predefned protocols for containment, investigation, notifcation, and remediation, ensuring minimal impact and swift recovery. We continuously evaluate and enhance our security measures to adapt to the evolvingdigital landscape and emergingthreats. Negative
	5. Social Responsibility (Local communities) Opportunity At LatentView, we are deeply committed to enhancing the qualityof life of the communities. Not Applicable Positive
	6. Talent attraction and retention Risk We operate in a technology-driven industry which has one of the highest attrition rates across markets. So, it is necessary for us to come up with strategies to foster a culture and work environment that attracts and retains employees. We are formulating high-impact employee retention strategies to help us retain our employees for the long haul. Negative

26. Overview of the entity’s material responsible business conduct issues (Contd.)

Strategic Review CompanyOverview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainabilityat LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report Financial Statements Consolidated Financial Statement Standalone Financial Statement Notice to the AGM 1. 2. 3. 4.	Sr. No.	Material issue identifed	Indicate whether risk or opportunity (R/O)	Rationale for identifying the risk/opportunity	In case of risk, approach to adapt or mitigate	Financial implications of the risk or opportunity (Indicate positive or negative implications)
	7. Training and upskilling		Opportunity Skilled employees and workers are an asset to our company. Highly skilled workers and employees complete their responsibilities effcientlyand more effectively. Not Applicable Positive
	8. Corporate governance		Opportunity We understand that a strong and robust Corporate Governance structure has the potential to improve decision- making, increase transparency, andpromote accountability. Not Applicable Positive
	9. Customer satisfaction		Opportunity We strongly feel that feedback is essential for any industry to function and improve. We intend to take feedback through AI-driven technology. Not Applicable Positive
	10. Economic Performance		Opportunity Increased revenue from higher demand for digital services from customers will help in generating a higher economic performance. Not Applicable Positive
	11. Innovation		Risk Risk:We understand that the possibility of superior solutions failing to address the current market demands or meet new requirements is a risk to our operation. We are focusing on new areas to develop future capability needs. Positive
			Opportunity Opportunity:We believe Innovation increases the chances to react to upcoming challenges and discover new opportunities. Not Applicable Positive.
	12. Compliance		Risk We understand that failure to act according to standards or laws of industry, laws or its own policies can lead to penalties and legal consequences. We have a Risk management policy for identifying, assessing, and mitigating compliance risk. Negative

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LatentView Analytics Annual Report 2023-2024

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SECTION B: MANAGEMENT AND PROCESS DISCLOSURE

This section is aimed at helping businesses demonstrate the structures, policies and processes put in place towards adopting the NGRBC Principles and Core Elements.

The National Guidelines for Responsible Business Conduct (NGRBC) as prescribed by the Ministry of Corporate Affairs advocates nine principles referred as P1-P9 as given below:

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

P1 Businesses should conduct and govern themselves with integrity in a manner that is ethical, transparent and accountable P2 Businesses should provide goods and services in a manner that is sustainable and safe P3 Businesses should respect and promote the well-being of all employees, including those in their value chains
P4 Businesses should respect the interests of and be responsive towards all its stakeholders
P5 Businesses should respect and promote human rights
P6 Businesses should respect, protect and make efforts to restore the environment
P7 Businesses when engaging in influencing public and regulatory policy, should do so in a manner that is responsible and transparent
P8 Businesses should promote inclusive growth and equitable development
P9 Businesses should engage with and provide value to their consumers in a responsible manner

2. Statutory Reports

Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Disclosure Question P 1 P 2 P3 P4 P5 P6 P7 P8 P9
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	POLICY AND MANAGEMENT PROCESSES
1.	a. Whether your entity’s policy/policies cover each principle and its core elements of the NGRBCs.(Yes/No) Yes Yes Yes No Yes Yes Yes Yes Yes
	b. Has the policy been approved by the Board? (Yes/No) Yes Yes Yes No Yes Yes No Yes No
	c. Web link of the policies, if available Yes1 Yes2 Yes3 Yes4 Yes5 Yes6 Yes7 Yes8 Yes9
2.	Whether the entityhas translated thepolicyintoprocedures.(Yes/No) Yes Yes Yes Yes Yes Yes No Yes Yes
3.	Do the enlistedpolicies extend toyour value chainpartners?(Yes/No) Yes Yes Yes Yes Yes Yes No Yes Yes
4.	Name the national and international codes/certifcations/labels/standards Not Available Not Available ILO code Not Available Human rights and ILO declaration IGBC certificate Not Available CSR disclosures as per Companies Act,2013 ISO 27001

Specific commitments, goals and targets set by the entity with defined timelines, if any

Nil*

Performance of the entity against specific commitments, goals and targets

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1https://www.latentview.com/wp-content/uploads/2022/09/anti-bribery-and-anti-corruption-policy-doc.pdf 2Available intranet

3https://www.latentview.com/wp-content/uploads/2021/08/board-diversity-policy.pdf and code of conduct policy is available on the intranet portal

4https://www.latentview.com/wp-content/uploads/2021/08/latentview-posh-policy.pdf and https://www.latentview.com/wp-content/uploads/2023/03/whistle-blower-policy-2023.pdf

5Available intranet
6Code of conduct policy is available on the intranet portal

7 - - - https://www.latentview.com/wp content/uploads/2023/03/csr policy 2023.pdf 8Available in the intranet

*We are in the process of formulating and evaluating goals and targets across all the 9 principles.

LatentView Analytics Annual Report 2023-2024

Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

In our quest for energy efficiency, we have replaced all CFL bulbs with energy-efficient LED lighting across our operations. This initiative reduces our energy consumption and lowers our carbon footprint. Moreover, we have transitioned from high-GWP refrigerants to low-GWP alternatives, minimizing our greenhouse gas emissions. We have also developed a sustainable procurement policy and begun implementing sustainable aspects in our procurement practices, ensuring that our supply chain aligns with our commitment to sustainability.

Governance, Leadership and Oversight

7. Statement by the director responsible for the business responsibility report, highlighting ESGrelated challenges, targets and achievements (listed entity has flexibility regarding the placement of this disclosure)

At Latent View, sustainability is at the heart of our business strategy. We understand that our actions today profoundly impact the future, and we are committed to driving positive change through our environmental, social, and governance (ESG) initiatives. Our approach to sustainability is holistic, encompassing all aspects of our operations to ensure we contribute meaningfully to the communities we serve and the planet we share.

As we move forward, We are committed to developing a robust ESG framework and roadmap. This will involve setting clear goals and targets for all important areas and initiatives to achieve those goals. We also remain dedicated to incorporating ESG principles into every aspect of our operations, striving to improve the quality of life in our communities and contribute positively to the environment.

We believe sustainable business practices are the fundamental components for long-term success. By integrating ESG principles into our core operations, we strive to create value for our stakeholders, foster innovation, and build a resilient business model that can adapt to the evolving global landscape.

8. Details of the highest authority responsible for implementation and oversight of the Business Responsibility & Sustainability (BRSR) Policy:

Name: A.V. Venkatraman

This year, we have made significant achievements and undertaken impactful initiatives in our sustainability journey. One of our key achievements has been improving our Climate Disclosure Project (CDP) score from a “C” to a “B”. Our Score “B” falls under the Management band. This is higher than the Asia regional average of C and higher than the Specialized professional services sector average of C. This improvement reflects our ongoing efforts to manage and reduce our environmental impact. Additionally, we have been awarded a bronze rating in our first year of reporting to EcoVadis assessment.

Designation: Executive Chairperson

9. Does the entity have a specified committee of the board/director responsible for decision making on sustainability related issues? (Yes/No). If yes, provide details

We're currently in the process of establishing LatentView's Sustainability Committee to drive our environmental and social impact initiatives.

10. Details of Review of the National Guidelines on Responsible Business Conduct (NGRBC) by the company:

Subject for Review	Subject for Review	Subject for Review	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Indicate whether review was undertaken by Director/Committee of the Board/Any other Committee	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify	Frequency: Annually (A)/Half yearly (H)/Quarterly (Q)/Any other – please specify
			P1	P2		P3	P4	P5		P6	P7			P8	P9	P1		P2	P3		P4		P5	P6		P7		P8		P9
Performance against above policies & follow up action			D D D D D D C D D A Need basis H1 Q Need basis Need basis H Q Need basis
Compliance with statutory requirements of relevance to the principles, andrectifcationofanynon-compliances			D D D D D D C D D A A A H A A H A Need Basis
*Note: 1P3: The frequency of review is half yearly (H) for customers and employees. 11. Has the entity carried out independent assessment/evaluation of the working of its policies by an external agency? (Yes/No). If yes, provide name of the agency.
P1	P2	P3			P4			P5					P6				P7					P8					P9
No No No No No No No No No
12. If answer to question (1) above is “No” i.e. not all Principles are covered by a policy, reasons to be stated:
Questions							P1		P2			P3			P4		P5			P6			P7		P8				P9
The entity doesnotconsider thePrinciplesmaterial toits business (Yes/No)
The entity is not at a stage where it is in a position to formulate and implement the policies on specifed principles (Yes/No)
The entity does not have the fnancial or/human and technical resources available for the task(Yes/No)
It is plannedto be donein thenext Financial Year(Yes/No) Yes
Any other reason(please specify)

SECTION C: PRINCIPLE-WISE PERFORMANCE DISCLOSURE

This section is aimed at helping entities demonstrate their performance in integrating the Principles and Core Elements with key processes and decisions. The information sought is categorized as “Essential” and “Leadership”. While the essential indicators are expected to be disclosed by every entity that is mandated to file this report, the leadership indicators may be voluntarily disclosed by entities which aspire to progress to a higher level in their quest to be socially, environmentally and ethically responsible.

Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Principle 1 - Businesses should Conduct and Govern themselves with Integrity and in a Manner that is Ethical, Transparent, and Accountable

Essential Indicators

1. Percentage coverage by training and awareness programmes on any of the principles during the Financial Year:

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Segment Total number of training and awareness Topics/principles covered under the training % of persons in respective category covered by
programmes held audits impact the awareness programmes
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Board of Directors	3 Awareness programmes on familiarisation with applicable NGRBCprinciples. 50%
Key Managerial Personnel (KMP)	7 1. Prevention of sexual harassment 2. Anti-Bribery and Anti-Corruption Course 3. Information Security Awareness (Cyber Security, Phishing) 4. Insider Trading 100%
Employees other than BoD and KMPs	1,230 1. Prevention of sexual harassment 2. Anti-Bribery and Anti-Corruption Course 3. Information SecurityAwareness 100% Mandatory training provided to all employees
	2,500 Adobe Analytics - Consumer Entity Alteryx Training for Industrials Azure Synapse Analytics for TGNW Building a consultative mindset - Retail Building consultative workshop for Growth First-Time Leadership Program Microstrategy for Consumer Power Automate Training The Smart Decorum/Constructive etiquette Trainingon Google Analytics 30%
Workers	NA NA NA

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LatentView Analytics Annual Report 2023-2024

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
Details of fines/penalties/punishment/award/compounding fees/settlement amount paid in proceedings (by the entity or by directors/KMPs) with regulators/law enforcement agencies/judicial institutions, in the Financial Year. (Note: the entity shall make disclosures on the basis of materiality as specified in Regulation 30 of SEBI (Listing Obligations and Disclosure Obligations) Regulations, 2015 and as disclosed on the entity’s website):

Monetary	Monetary	Monetary	Monetary	Monetary	Monetary
	NGRBC Principle	Name of the regulatory/ enforcement agencies/ judicial institutions	Amount (In INR)	Brief of the Case	Has an appeal been preferred? (Yes/No)
Penalty/Fine NA NA NA NA
Settlement - NA NA NA NA
Compoundingfee - NA NA NA NA

Non-Monetary	Non-Monetary	Non-Monetary	Non-Monetary	Non-Monetary
	NGRBC Principle	Name of the regulatory/ enforcement agencies/ judicial institutions	Brief of the Case	Has an appeal been preferred? (Yes/No)
Imprisonment - NA NA NA
Punishment - NA NA NA

3. Of the instances disclosed in Question 2 above, details of the appeal/revision preferred in cases where monetary or non-monetary action has been appealed.

Case Details Name of the regulatory/enforcement agencies/ judicial institutions NA NA

4. Does the entity have an anti-corruption or anti-bribery policy? If yes, provide details in brief and if available, provide a web-link to the policy.

Number of Directors/KMPs/employees against whom disciplinary action was taken by any law enforcement agency for the charges of bribery/corruption:

	2023-24	2022-23
Directors	-	-
KMPs	-	-
Employees	-	-
Workers	-	-

6. Details of complaints with regard to conflict of interest:

	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23
	Number	Remarks Number	Remarks
Number of complaints received in relation to issues of Confict of Interest of the Directors	- NA - NA
Number of complaints received in relation to issues of Confict of Interest of the KMPs	- NA - NA

7. Provide details of any corrective action taken or underway on issues related to fines/penalties/ action taken by regulators/law enforcement agencies/judicial institutions, on cases of corruption and conflicts of interest. Not Applicable

8. Number of days of accounts payables ((Accounts payable *365)/Cost of goods/services procured) in the following format:

procured) in the following format:
	FY	2023-24	FY 2022-23
Number of days of accountspayables		12 days	6 days

We have a zero-tolerance approach to bribery and corruption and are committed to compliance with all relevant laws. Our policy aims to prevent the company from engaging in bribery and corruption and requires employees to comply with related procedures. The policy outlines our commitment to integrity and sets responsibilities for employees, vendors, and partners to uphold the position against bribery and corruption.

https://www.latentview.com/wp-content/uploads/2022/09/anti-bribery-and-anti-corruption-policy-doc.pdf

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LatentView Analytics Annual Report 2023-2024

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Strategic Review

Company Overview

Founders’ Address

Letter to Shareholders

Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
Open-ness of business Provide details of concentration of purchases and sales with trading houses, dealers, and related parties along-with loans and advances & investments, with related parties, in the following format:

following format:
Parameter	Metrics FY 2023-24 FY 2022-23
Concentration of Purchases	a. Purchases from trading houses as % of totalpurchases NA NA
	b. Number of trading houses where purchases are made from NA NA
	c. Purchases from top 10 trading houses as % of total purchases from tradinghouse NA NA
Concentration of Sales	a. Sales to dealers/distributors as % of total sales NA NA
	a. Sales to dealers/distributors as % of total sales NA NA
	c. Sales to top 10 dealers/ distributors as % of total sales to dealers/distributors NA NA
Share of RPTs in	a. Purchases (Purchases with related parties/Total Purchases) - -
	b. Sales (Sales to related parties/ Total Sales) 90% 94%
	c. Loans & advances (Loans & advances given to related parties/Total loans & advances) 100% 100%
	d. Investments (Investments in related parties/Total Investments made) 0.08% 0.11%

Leadership Indicators

1. Does the entity have processes in place to avoid/manage conflicts of interest involving members of the Board? (Yes/No) If Yes, provide details of the same.

Yes, we have a comprehensive Code of Conduct to prevent and manage conflicts of interest involving Board members. This Code is adhered to by the directors and senior management to uphold exemplary corporate governance practices. The Compliance Officer is responsible for ensuring adherence to the Code, all Board of Directors, key Managerial persons and employees are expected to conduct themselves with the utmost care,

diligence, honesty, and integrity, maintaining the highest moral and ethical standards, and acting in the best interests of LatentView.

https://www.latentview.com/wp-content/uploads/2021/08/code-of-conduct-for-directors-and-seniormanagement.pdf

Principle 2 - Businesses should Provide Goods and Services in a Manner that is Sustainable and Safe

Essential Indicators

Percentage of R&D and capital expenditure (capex) investments in specific technologies to improve the environmental and social impacts of products and processes to total R&D and capex investments made by the entity, respectively.

	2023-24	2022-23	Details of improvements
			inenvironmental and social
			impact
R&D	-	-	NA
Capex	-	-	NA

2. a. Does the entity have procedures in place for sustainable sourcing? (Yes/No)

We have developed our sustainable procurement policy and supplier code of conduct to strengthen our sustainable sourcing practices. We select our suppliers by assessing various factors which include, environmental, social and ethical aspects. Our suppliers have to adhere to the Code of Conduct.

b. If yes, what percentage of inputs were sourced sustainably?

We are in the process of integrating our sustainable procurement policy into our practices, we will be disclosing this number in the upcoming disclosures.

Describe the processes in place to safely reclaim your products for reusing, recycling and disposing at the end of life, for (a) Plastics (including packaging) (b) E-waste (c) Hazardous waste and (d) other waste.

This is Not Applicable to LatentView. LatentView as an organization does not manufacture any goods.

Whether Extended Producer Responsibility (EPR) is applicable to the entity’s activities (Yes/No). If yes, whether the waste collection plan is in line with the Extended Producer Responsibility (EPR) plan submitted to Pollution Control Boards? If not, provide steps taken to address the same. Not Applicable

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LatentView Analytics Annual Report 2023-2024

Leadership Indicators

Has the entity conducted Life Cycle Perspective/Assessments (LCA) for any of its products (for manufacturing industry) or for its services (for service industry)? If yes, provide details.
Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

NIC Code	Name of Product/ Service	% of total Turnover contributed	Boundary for which the Life Cycle Perspective/Assessment was conducted	Whether conducted by independent external agency (Yes/No)	Results communicated in public domain (Yes/No) If yes, provide the web-link.
LCA is Not Applicable to us.

If there are any significant social or environmental concerns and/or risks arising from the production or disposal of your products/services, as identified in the Life Cycle Perspective/Assessments (LCA) or through any other means, briefly describe the same along-with action taken to mitigate the same.

Name of Product/Service	Description of the risk/concern	Action Taken
NA NA NA

Percentage of recycled or reused input material to total material (by value) used in production (for manufacturing industry) or providing services (for service industry).

Indicate input material	Recycled or re-used input material to total material
	FY 2023-24 FY 2022-23
NA	NA NA

Of the products and packaging reclaimed at end of life of products, amount (in metric tonnes) reused, recycled, and safely disposed:

Type of Waste	FY 2023-24	FY 2023-24	FY 2023-24	FY 2022-23	FY 2022-23	FY 2022-23
	Re-Used	Recycled	Safely Disposed (Metric Tonnes)	Re-Used	Recycled	Safely Disposed (Metric Tonnes)
Plastics including packaging)	NA NA NA NA NA NA
E-waste	NA NA NA NA NA NA
Hazardous waste	NA NA NA NA NA NA
Other waste-Paper waste	NA NA NA NA NA NA

Reclaimed products and their packaging materials (as a percentage of products sold) for each product category.

Indicate product category	Reclaimed products and their packaging materials as % of total products sold in respective category
NA NA

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LatentView Analytics Annual Report 2023-2024

Principle 3 - Businesses should Respect and Promote the Well-Being of all Employees, Including those in their Value Chains

Essential Indicators

1. a. Details of measures for the well-being of employees:

Strategic Review

Company Overview Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

		% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by	% of employees covered by
Category	Total (A)	Health insurance		Accident insurance		Maternity benefts		Paternity benefts		Daycare facilities
		No. (B)	% (B/A)	No. (C)	% (C/A)	No. (D)	% (D/A)	No. (E)	% (E/A)	No. (F)	% (F/A)
		PERMANENT EMPLOYEES
Male 674		674 100 674 100 NA NA 674 100 674 100
Female 408		408 100 408 100 408 100 NA NA 408 100
Total 1082		1082 100 1082 100 408 100 674 100 1082 100
		OTHER THAN PERMANENT EMPLOYEES
Male -		- - - - - - - - - -
Female -		- - - - - - - - - -
Total -		- - - - - - - - - -
b. Details of measures for the well-being of workers:
		% of workers covered by
Category	Total (A)	Health insurance		Accident insurance		Maternity benefts		Paternity benefts		Daycare facilities
		No. (B)	% (B/A)	No. (C)	% (C/A)	No. (D)	% (D/A)	No. (E)	% (E/A)	No. (F)	% (F/A)
		PERMANENT WORKERS
Male NA		- - - - - - - - - -
Female NA		- - - - - - - - - -
Total NA		- - - - - - - - - -
		OTHER THAN PERMANENT WORKERS
Male NA		- - - - - - - - - -
Female NA		- - - - - - - - - -
Total NA		- - - - - - - - - -

c. Spending on measures towards the well-being of employees and workers (including permanent and other than permanent) in the following format:

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	FY 2023-24		FY 2022-23
The cost incurred on well-being measures as a % of the total revenue of the company	0.73% (This includes only the	well	0.62% (This includes only the well
	being programs conducted	for	programs conducted for Employees
	Employees of Latent View) All others		of Latent View) All others including
	including insurance, and health		insurance, and health checkups are
	checkups are not included)		not included)

LatentView Analytics Annual Report 2023-2024

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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement

2. Details of retirement benefits for the current and previous Financial Year.

Benefts	FY 2023-24 No. of employees covered (as a % of total employees) No. of workers covered (as a % of total workers) Deducted & deposited with the authority (Yes/ No/N.A.)	FY 2023-24 No. of employees covered (as a % of total employees) No. of workers covered (as a % of total workers) Deducted & deposited with the authority (Yes/ No/N.A.)	FY 2023-24 No. of employees covered (as a % of total employees) No. of workers covered (as a % of total workers) Deducted & deposited with the authority (Yes/ No/N.A.)	FY 2022-23	FY 2022-23	FY 2022-23
		No. of workers covered (as a % of total workers)	Deducted & deposited with the authority (Yes/ No/N.A.)	No. of employees covered (as a % of total employees)	No. of workers covered (as a % of total workers)	Deducted and deposited with the authority (Yes/ No/N.A.)
PF	100% NA Yes 100% NA Yes
Gratuity	100% NA NA 100% NA NA
ESI	NA NA NA NA NA NA
Others- Life insurance	100% NA Yes 100% NA Yes

3. Accessibility of workplaces.

Are the premises/offices accessible to differently-abled employees as per the requirements of the Rights of Persons with Disabilities Act, 2016? If not, whether any steps are being taken by the entity in this regard.

We prioritize accessibility and inclusivity. In accordance with the same, the IT park provides battery-powered vehicles for easy mobility, has wheelchairs available for easy usage, and has a washroom specifically designed for differentlyabled people. Our company’s code of conduct emphasizes treating all employees equally, regardless of their background or circumstances. These measures demonstrate the company’s commitment to creating a workplace that is welcoming and supportive to all individuals.

4. Does the entity have an equal opportunity policy as per the Rights of Persons with Disabilities Act, 2016? If so, provide a web-link to the policy.

Yes, as a part of our company’s business code of conduct. We are committed to creating a work environment free of discrimination and complying with employment regulations. We do not discriminate based on national origin, religion, race, colour, age, gender, marital status, sexual orientation, and disability and make employment decisions based on merit. We promote diversity and equality through fair policies regarding employment terms, training, development, and performance management.

Notice to the AGM

5. Return to work and retention rates of permanent employees that took parental leave.

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Gender	Permanent Employees	Permanent Employees	Permanent Workers	Permanent Workers
	Return to work rate	Retention rate	Return to work rate	Retention rate
Male	100% 100% NA NA
Female	100% 100% NA NA
Total	100% 100% NA NA
6. Is there a mechanism available to receive and redress grievances for the following categories of employees and workers? If yes, give details of the mechanism in brief.
	Yes/No (If Yes, then give details of the mechanism in brief)
Permanent Employees Yes (Refer to Principle 5 S.no. 5)
Other than Permanent Employees Yes (Refer to Principle 5 S.no. 5)
Permanent Workers NA
Other than Permanent Workers NA

LatentView Analytics Annual Report 2023-2024

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91
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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

7. Membership of employees in association(s) or unions recognised by the listed entity:

Category	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23
	Total employees/ workers in respective category (A)	No. of employees/ workers in respective category, who are part of association(s) or Union (B)	% (B/A) Total employees/ workers in respective category (C)	No. of employees/ workers in respective category, who are part of association(s) or Union (D)	% (D/C)
Total Permanent Employees	At Latent View, Employees will not be restricted from joining the unions. Currently, no unions are recognized by Latent View.
Male					NA
Female					NA
Total Permanent Workers
Male	NA NA NA NA NA				NA
Female	NA NA NA NA NA				NA

8. Details of training given to employees and workers:

8. Details of training given to employees and workers:
Category		FY 2023-24					FY 2022-23
	Total (A)	On health & safety/ wellness measures		On skill upgradation		Total (D)	On health and safety measures/ wellness		On skill upgradation
		No. (B)	% (B/A)	No. (C)	% (C/A)		No. (E)	% (E/D)	No. F	% (F/D)
		EMPLOYEES
Male	674	674 100 674 100 606					606 100 564 93
Female	408	408 100 408 100 343					343 100 323 94
Total	1082	1082 100 1082 100 949					949 100 887 93
		WORKERS
Male	NA	- - - - NA					- - - -
Female	NA	- - - - NA					- - - -
Total	NA	- - - - NA					- - - -

9. Details of performance and career development reviews of employees and workers.

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LatentView Analytics Annual Report 2023-2024

Category	FY 2023-24	FY 2023-24	FY 2023-24	FY 2022-23	FY 2022-23	FY 2022-23
	Total (A)	No. (B)	% (B/A)	Total (C)	No. (D)	% (D/C)
	EMPLOYEES
Male	674 674 100 606 552 90
Female	408 408 100 343 317 90
Total	1082 1082 100 949 869 90

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Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

9. Details of performance and career development reviews of employees and workers. (Contd.)

9. Details of performance and career development reviews of empl	oyees and workers.(Contd.)	oyees and workers.(Contd.)	oyees and workers.(Contd.)
Category	FY 2023-24			FY 2022-23
	Total (A)	No. (B)	% (B/A)	Total (C)	No. (D)	% (D/C)
	WORKERS
Male	NA - - NA - -
Female	NA - - NA - -
Total	NA - - NA - -

12. Describe the measures taken by the entity to ensure a safe and healthy workplace.

10. a. Whether an occupational health and safety management system has been implemented by the entity? (Yes/No). If yes, the coverage of such system?

We conduct free health checks for our employees as part of our health and wellness initiatives. In addition, our company organizes periodic well-being sessions that include activities such as chair stretches to promote physical health and wellness. These initiatives are aimed at creating awareness about the importance of maintaining good health and wellbeing among employees, while also providing them with resources and support to improve their overall health and wellbeing.

Yes. The policy envisages the elimination of any potential causes that may endanger employees and ensures that the company can promote good health and mental well-being across our business operations. It also clearly establishes the employee’s responsibility in case of unforeseen eventualities.

b. What are the processes used to identify work-related hazards and assess risks on a routine and nonroutine basis by the entity?

13. Number of complaints on working conditions and health and safety made by employees and workers.

Due to the nature of business, this is not directly applicable to us. However, we are aware of the risks that might occur in the office. We have implemented the required safety measures in the offices to minimize these risks which include Ergonomic related risks as well.

workers.
Category	FY 2023-24 FY 2022-23
	Filed during the year	Pending resolution at the end ofyear	Remarks Filed during the year	Pending resolution at the end ofyear	Remarks
WorkingConditions	- NA NA - NA NA
Health & Safety	- NA NA - NA NA

c. Whether you have processes for workers to report work-related hazards and to remove themselves from such risks. (Yes/No)

We have the process to report on work-related hazards.

d. Do the employees/workers of the entity have access to non-occupational medical and healthcare services? (Yes/No)

14. Assessments for the year

Yes

	% of your plants and offces that were assessed (by entity or statutory authorities or third parties)
Health and safety practices Nil
WorkingConditions Nil

11. Details of safety related incidents:

11. Details of safety related incidents:
SafetyIncident/Number	Category FY 2023-24 FY 2022-23
Lost Time Injury Frequency Rate (LTIFR) (per one million-person hours worked)	Employees - -
	Workers NA NA
Total recordable work-related injuries	Employees - -
	Workers NA NA
No. of fatalities	Employees - -
	Workers NA NA
High consequence work-related injury or ill-health (excluding fatalities)	Employees - -
	Workers NA NA

Provide details of any corrective action taken or underway to address safety-related incidents (if any) and on significant risks/concerns arising from assessments of health and safety practices and working conditions.

None

Leadership Indicators

Does the entity extend any life insurance or any compensatory package in the event of death of (A) Employees (Y/N) (B) Workers (Y/N)?
Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Employees	Yes
Workers	NA

2. Provide the measures undertaken by the entity to ensure that statutory dues have been deducted and deposited by the value chain partners.

a. EPF deduction: Our company deducts Employee Provident Fund from employees and pays it to the relevant authority within the due dates.

b. Company contribution: Our company contributes its share of the Employee Provident Fund and remits it accordingly.
Provide the number of employees/workers having suffered high consequence work related injury/ill-health/fatalities (as reported in Q11 of Essential Indicators above), who have been are rehabilitated and placed in suitable employment or whose family members have been placed in suitable employment:

	Total no. of affected employees/workers No. of employees/workers that are rehabilitated and placed in suitable employment or whose family members have been placed in suitable employment
	FY 2023-24 FY 2022-23 FY 2023-24 FY 2022-23
Employees	Nil Nil NA NA
Workers	Nil Nil NA NA

Does the entity provide transition assistance programs to facilitate continued employability and the management of career endings resulting from retirement or termination of employment? (Yes/No) We are yet to draft assistance programs for continued employability.

5. Details on assessment of value chain partners:

	% of value chain partners (by value of business done with such partners) that were assessed
Health & Safety practices NIL (All of our value chain partners are expected to respect existing regulations, including health & safety practices and working conditions. However, these factors are not explicitly captured or assessed) WorkingConditions

Provide details of any corrective actions taken or underway to address significant risks/concerns arising from assessments of health and safety practices and working conditions of value chain partners: No

Principle 4 - Businesses Should Respect The Interests of And Be Responsive To All Its Stakeholders

Essential Indicators

1. Describe the processes for identifying key stakeholder groups of the entity.

Our company engages with a broad spectrum of stakeholders, to deepen our insights into their needs and expectations, and to develop sustainable strategies for the short, medium and long term. Stakeholder engagement also helps us to manage risks and opportunities in business operations. The key stakeholders identified in consultation with the company’s management are Employees, Customers and Shareholders/Investors.

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LatentView Analytics Annual Report 2023-2024

2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group.

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

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Stakeholder Whether identified Channels of communication (Email, SMS, Frequency of engagement (Annually/Half Purpose and scope of engagement including key topics
Group as Vulnerable Newspaper, Pamphlets, Advertisement, Community yearly/Quarterly/others – please specify) and concerns raised during such engagement
& Marginalized Meetings, Notice Board, Website), Others
Group (Yes/No)
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Shareholders/	No	The	company communicates through press releases, email	•	Quarterly:earnings call; exchange notifcations;	•	Educating the investor community about LatentView’s
Investors		advisories, and quarterly investor calls			press release		integrated value creation model and business strategy for the
				•	Continuous:Investors page in website		long term.
				•	Annual:Annual General Meeting; Annual Report	•	Helping investors voice their concerns regarding company policies, reporting, strategy, etc.
						•	Understandingshareholder expectations.
Employees	No	•	Fortnightly & Monthly Manager Meetings: Leadership	•	Decision Making & Communication – It goes	•	Two-way communication with employees is a must at
			regularly touch bases with the managers of the		without saying that unique and important decisions		LatentView. The current engagement index stands at 8.1.
			organisation to provide guidance and redirect focus,		require conscious thinking, information gathering		Engagement strategies are used by leadership to actively
			wherever needed, towards the Vision and Mission of		and careful collection of alternatives. We are a		listen and act.
			the organisation.		data driven company and we use a mix of data and rationale to arrive at a decision. As outlined	•	Career Management and Growth Prospects
		•	Town Halls & Quarterly Updates - LatentView		earlier, our open and transparent culture empowers	•	Learning opportunities
			management engages in open communication with employees across all levels, delivering frst hand		employees to be a part of the decision making along with the senior leadership. The outcome of decisions	•	Compensation structure
			company reports, highlights and other updates. This		are more closely aligned to the teams in the trenches	•	Building a safety culture and inculcating safe work practices
			results in transparency, fow of communication and		and are therefore more easily accepted based on		among employees
			extensive building of employee’s trust.		seamless and open communication.	•	Flexible working hours
				•	Pre-onboarding touchpoints with candidates: Passive/Alumni-Sharing Newsletters, employee	•	Improving Diversity and Inclusion
					engagement updates & opportunities matching their	•	Unique Working Space - In build innovation
					experience etc).	•	Transparency - People trust the clear and distrust the vague
				•	Leadership connects: This is to facilitate informal connections with the leadership team over coffee or walks around the facility.	•	Periodic Engagement Initiatives: We have a defned periodic engagement calendar themed around fun and collaboration. Each month, employees are engaged in some type of activity
				•	Easy access to HR: Employee feedback is not only		or event. Employees come forward to drive these initiatives,
					initiated by the HR, but any employee at any level		promote nominations and bring them to successful completion.
					at any point of time can share their feedback to HR		Inter Corporate events and Team outings.
					or management without the barriers of hierarchy.	•	Embolden the practice of intrapreneurship: At LatentView, we
				•	Flat and Open culture: Employees have easy		encourage intrapreneurship among our employees so that all
					access to business heads and management. Our fat structure with levels only from L1-L6 with		employees can bring their ideas directly to the table instead of leaving and starting their own businesses. We always set up
					no sublevels, drives easy and open access for		an internal innovation team that can work to refne their ideas
					employees to reach out to their immediate reporting		and act as a sounding board.
					manager or skip a level. This structure is the essence
					of our offce design, which is an open foor with
					employees across all levels sharingthe same space.

2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group. (Contd.)

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Stakeholder Whether identified Channels of communication (Email, SMS, Frequency of engagement (Annually/Half Purpose and scope of engagement including key topics Group as Vulnerable Newspaper, Pamphlets, Advertisement, Community yearly/Quarterly/others – please specify) and concerns raised during such engagement & Marginalized Meetings, Notice Board, Website), Others Group (Yes/No) • Employee Survey feedback • Employee-initiated reward programs: Employees had the opportunity to work on new initiatives designed toward • Exit Interview Feedback the vision, mission and objective statements of LatentView, • Effective Feedback Mechanism: We focus on including the new team award category: “Game Changer the average and negative experiences feedback Award” and Employee-initiated learning programs are also provided by candidates (inputs on Feedback an essential part of our culture. We believe in an inclusive Mechanism & Interview process). Feedback of management style, and we give power to employees to hone employees are collected through surveys (Half their creativity in productive ways. yearly employee surveys, People management • Health and Wellness Programs: A lot of importance is focused Survey, Process and initiatives Feedback Surveys). and dedicated towards health and wellness initiatives for Employee and manager “Monthly 1 to 1 connect” employees. Gamification and rewards are specifically are conducted to ensure that all employees touch designed to encourage employees to participate in base with their reporting manager for continuous Walkathons, celebrate wellness milestones, attend multiple feedback. This provides the employees and awareness sessions by medical experts on mental health, managers a platform to connect, streamlining on childcare, nutrition, etc. Annual health check-ups are provided the goals decided upon, taking corrective action for all employees once a year and free medical teleconsultation towards achieving those set goals and recognising is made available to employees and family. Vaccination drives areas of progress as part of the performance were often conducted to ensure a fully vaccinated workforce. management process. LatentView also provided COVID care package with leave • Value Employee Recommendations: and COVID care support through wellness kits.

Employee-initiated reward programs: Employees had the opportunity to work on new initiatives designed toward the vision, mission and objective statements of LatentView, including the new team award category: “Game Changer Award” and Employee-initiated learning programs are also an essential part of our culture. We believe in an inclusive management style, and we give power to employees to hone their creativity in productive ways.
Value Employee Recommendations: HRBP focus group connections with employees •
are regularly carried out to understand the recommendations and suggestions on the performance evaluation process. Key process changes such as the chords of trust with employees, creating an environment that facilitates openness and approachability. The role of HRBP is to enable fulfilment and alignment of organizational and employee goals.

Creating and nurturing a collaborative work environment: We make LatentView a safe place to brainstorm and support team unity and encourage good manager/employee relationships. This supportive culture not only leads to increased productivity and innovation but also higher levels of engagement and retention. “Knowledge roundtable,” the Service Delivery Excellence team in partnership with the Learning and development team, joined hands to create a forum where teams can showcase their work experience from their projects and clients. This has been a great opportunity to explore and understand the diverse work that is being done across the organization. LatentView has also successfully completed 13 knowledge roundtable sessions.

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LatentView Analytics Annual Report 2023-2024

2. List stakeholder groups identified as key for your entity and the frequency of engagement with each stakeholder group. (Contd.)

Strategic Review Company Overview Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Stakeholder Group	Whether identifed as Vulnerable & Marginalized Group (Yes/No)	Channels of communication (Email, SMS, Newspaper, Pamphlets, Advertisement, Community Meetings, Notice Board, Website), Others	Frequency of engagement (Annually/Half yearly/Quarterly/others – please specify)	Purpose and scope of engagement including key topics and concerns raised during such engagement
Customer No The company uses various channels of communication, including project-related calls and meetings, project management reviews, relationship meetings and reviews, executive meetings and briefngs, customer visits, responses to RFIs/RFPs, sponsored events, mailers, newsletters, and brochures. The specifc channel is determined based on the situation and need. • Continuous: LatentView website; social media (LinkedIn) • Half-yearly: Customer satisfaction surveys • Annual: Roundtable • Understanding client, industry and business challenges Identifying opportunities to improve LatentView’s service and products for cross-selling • Deciding on investments and capabilities required to fulfl demand • Understandingclient’s dataprivacyand securityrequirements

Leadership Indicators

1. Provide the processes for consultation between stakeholders and the Board on economic, environmental, and social topics or if consultation is delegated, how is feedback from such consultations provided to the Board?

During our Annual General Meeting, the Board engages with shareholders directly to provide them with an overview of our strategies and to address any queries or concerns that they may have. This communication helps to promote transparency and build trust among shareholders.

Whether stakeholder consultation is used to support the identification and management of environmental, and social topics (Yes/No). If so, provide details of instances as to how the inputs received from stakeholders on these topics were incorporated into policies and activities of the entity:

To help define the most important ESG issues, we have conducted a materiality assessment to remain successful in the long term. All the identified stakeholders were allowed to provide inputs regarding the materiality of certain topics which are relevant to the business. It allowed us to capture our non-financial impacts, helped us prioritise issues to focus on, and improved our strategic thinking.

3. Provide details of instances of engagement with, and actions taken to, address the concerns of vulnerable/marginalized stakeholder groups:

LatentView’s CSR initiatives are strategically aligned to address critical societal challenges and cater to the needs of vulnerable populations, with a particular focus on Students, youth, and marginalized communities. LatentView maintains a comprehensive approach throughout its operations, ensuring ethical, economic, social, and environmental sustainability while prioritizing the interests of its key stakeholders. The development of LatentView’s CSR projects is guided by ongoing feedback and concerns expressed by stakeholders, including implementation partners and beneficiary communities. This feedback loop is integral to the success of LatentView’s CSR endeavours. LatentView actively gathers and incorporates feedback to enhance the impact and effectiveness of its CSR initiatives.

Principle 5 - Businesses Should Respect and Promote Human Rights

Essential Indicators

Employees and workers who have been provided training on human rights issues and policy(ies) of the entity:

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Category	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23
	Total (A)	No. of employees/ workers covered (B)	% (B/A) Total (C)	No. of employees/ workers covered (D)	% (D/C)
	EMPLOYEES
Permanent	1082 1082 100% 949 949 100%
Other than Permanent	- - - - - -
Total employees	1082 1082 100 949 949 100%

LatentView Analytics Annual Report 2023-2024

1. Employees and workers who have been provided training on human rights issues and policy(ies) of the entity: (Contd.)

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

1. Employees and workers who have been provid	ed training on human rights issues and policy(ies) of the entity: (Contd.)	ed training on human rights issues and policy(ies) of the entity: (Contd.)	ed training on human rights issues and policy(ies) of the entity: (Contd.)	ed training on human rights issues and policy(ies) of the entity: (Contd.)	ed training on human rights issues and policy(ies) of the entity: (Contd.)
Category	FY 2023-24 FY 2022-23
	Total (A)	No. of employees/ workers covered (B)	% (B/A) Total (C)	No. of employees/ workers covered (D)	% (D/C)
	WORKERS
Permanent	NA - - NA - -
Other than Permanent	NA - - NA - -
Total workers	NA - - NA - -

2. Details of minimum wages paid to employees and workers:

2. Details of minimum wages paid to employees and workers:
Category	FY 2023-24			FY 2022-23
Total (A)	Equal to minimum wage		More than minimum wage Total (D) No. (C) % (C/A)	Equal to minimum wage		More than minimum wage
	No. (B)	% (B/A)	No. (C)	No. (E)	% (E/D)	No. (F)	% (F/D)
	EMPLOYEES
Permanent
Male 674	- - 674 100 606			- - 606 100%
Female 408	- - 408 100 343			- - 343 100%
Non-permanent
Male 23	- - 23 100 19			- - 19 100%
Female 7	- - 7 100 14			- - 14 100%
	WORKERS
Permanent
Male NA	- - - - NA			- - - -
Female NA	- - - - NA			- - - -
Non-permanent
Male NA	- - - - NA			- - - -
Female NA	- - - - NA			- - - -

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LatentView Analytics Annual Report 2023-2024

3. Details of remuneration/salary/wages:

a. Median remuneration/wages:

Strategic Review Company Overview Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Male Female
Number Median remuneration/salary/ Number Median remuneration/salary
wages of respective category wages of respective category
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Board of Directors (BoD) *	1	1,20,00,000	1		1,20,00,000
KMP (other than BoD)	3	73,40,796	0		-
Employees other than BOD & KMP	667	11,78,596	410		10,74,449
Workers
b. Gross wages paid to females as % of total wages paid by the entity, in the following format:
				FY 2023-24	FY	2022-23
Gross wages paid to females as % of total wages				33%		30%

4. Do you have a focal point (Individual/Committee) responsible for addressing human rights impacts or issues caused or contributed to by the business? (Yes/No)

We have an Internal Complaints Committee (ICC) to provide an efficient platform for employees to file complaints against any form of Human Rights Issues that they may encounter while working with the Company.

5. Describe the internal mechanisms in place to redress grievances related to human rights issues?

Yes, we have a mechanism in place to redress grievances for the Prevention of Sexual Harassment (POSH) and whistle-blower complaints. The POSH policy aims to educate employees on preventing sexual harassment in the workplace and creating a safe work environment. It establishes guidelines for employees to follow and ensures that all allegations of sexual harassment are investigated and dealt with effectively and promptly. We encourage reporting of unethical or illegal behaviour and violation of the Code of Conduct. Reporting can be done to the appropriate authorities to protect the company’s interest and growth.

6. Number of complaints on the following made by employees and workers:

Category	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23	FY 2023-24 FY 2022-23
	Filed during the year	Pending resolution at the end ofyear	Remarks Filed during the year	Pending resolution at the end ofyear	Remarks
Sexual Harassment	0 NA 0 NA
Discrimination at workplace	0 NA 0 NA
Child Labour	0 NA 0 NA
Forced Labour/InvoluntaryLabour	0 NA 0 NA
Wages	0 NA 0 NA
Other issues	0 NA 0 NA

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LatentView Analytics Annual Report 2023-2024

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Strategic Review Company Overview Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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7. Complaints filed under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013, in the following format:

	FY 2023-24	FY 2022-23
Total Complaints reported under Sexual	-	-
Harassment on of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013
(POSH)
Complaints on POSH as a % of female	-	-
employees/workers
Complaints on POSH upheld	-	-

8. Mechanisms to prevent adverse consequences to the complainant in discrimination and harassment

cases:

Our POSH policy encourages employees to express complaints about sexual harassment without fear of retaliation. The Internal Complaints Committee (ICC) ensures protection of complainants and witnesses from discrimination, while investigating and taking disciplinary action against any genuine complaints of unethical behaviour.

Do human rights requirements form part of your business agreements and contracts? (Yes/No) Yes, we have equal opportunity employer in the contract. It’s a part of our code of conduct policy.

10. Assessments for the year:

% of offices that were assessed (by entity or statutory authorities or third parties)

Child labour Forced/involuntary labour Sexual harassment We are yet to initiate the assessments. Discrimination at workplace Wages Others – please specify

Provide details of any corrective actions taken or underway to address significant risks/concerns arising from the assessments at Question 9 above.

Not Applicable

Leadership Indicators

1. Is the premise/office of the entity accessible to differently abled visitors, as per the requirements of the Rights of Persons with Disabilities Act, 2016?

Yes, the premise provides battery-powered vehicles in the IT park for easy mobility, has wheelchairs available for easy usage, and has a bathroom specifically designed for differently-abled people. The company’s code of conduct emphasizes treating all employees equally, regardless of their background or circumstances. These measures demonstrate the company’s commitment to creating a workplace that is welcoming and supportive of all individuals.

Principle 6 - Business should Respect and Make Efforts to Protect and Restore the Environment

Essential Indicators

1. Details of total energy consumption (in joules or multiples) and energy intensity, in the following format:

format:
Parameter	FY 2023-24	FY 2022-23
From renewable sources
Total electricityconsumption (A)	1,328.64 GJ	1441.64 GJ
Total fuel consumption (B)	-	-
Energy consumption through other sources (C)	-	-
Total energy consumed from renewable	1,328.64 GJ	1441.64 GJ
sources (A+B+C)
From non-renewable sources
Total electricityconsumption (D)	551.49 GJ	437.45 GJ
Total fuel consumption (E)	4.77 GJ	38.25 GJ
Energyconsumption through other sources (F)	-	-
Total energy consumed from non-renewable	556.26 GJ	475.70 GJ
sources (D+E+F)
Total energyconsumed (A+B+C+D+E+F)	1,884.9 GJ	1917.34 GJ
Energyintensity per rupee of turnover	0.0000006	0.0000007
Energy intensity per rupee of turnover adjusted for	0.00000002	0.00000003
PurchasingPower Parity(PPP)
Energyintensityin terms ofphysical output	NA	NA
Energyintensity per Full Time Employee (FTE)	1.69	2.03

Note: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

Yes, by Bureau Veritas

LatentView Analytics Annual Report 2023-2024

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Success Stories Investment Case

Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Does the entity have any sites/facilities identified as designated consumers (DCs) under the Performance, Achieve and Trade (PAT) Scheme of the Government of India? (Y/N) If yes, disclose whether targets set under the PAT scheme have been achieved. In case targets have not been achieved, provide the remedial action taken, if any:

3. Provide details of the following disclosures related to water:

Parameter	FY 2023-24	FY 2022-23
Water withdrawal bysource (in kilolitres)
(i) Surface water	-	-
(ii) Ground Water	-	-
(iii) Third Party Water	3898 KL	54 KL
(iv) Seawater/Desalinated Water	-	-
(v) Others: Flush/Recycled Water	286 KL	898 KL
Total volume of water withdrawal (in kilolitres)	4184 KL	952 KL
Total volume of water consumption (in kilolitres)	4184 KL	952 KL
Water intensity per rupee of turnover (Water	0.0000014	0.00000036
consumed/turnover) – (Litres/turnover)
Water intensity per rupee of turnover adjusted	0.00000006	0.00000001
for Purchasing Power Parity (PPP) (Total water
consumption/Revenue from operations adjusted
for PPP)
Water intensity in terms of physical output	NA	NA
Water intensity per Full Time Employee (FTE)	3.86	1.00

Note: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

No

4. Provide the following details related to water discharged:

4. Provide the following details related to water	4. Provide the following details related to water	discharged:
Parameter		FY 2023-24	FY	2022-23
	Water discharge bydestination and level of treatment (in kilolitres)
i.	To Surface water	-		-
-	No treatment
-	With treatment – please specify level of
	treatment

Parameter	Parameter	FY 2023-24	FY 2022-23
ii.	To Groundwater	-	-
-	No treatment
-	With treatment – please specify level of
	treatment
iii.	To Seawater	-	-
-	No treatment
-	With treatment – please specify level of
	treatment
iv.	Sent to third-parties	-	-
-	No treatment
-	With treatment – please specify level of
	treatment
v.	Others	-	-
-	No treatment
-	With treatment – please specify level of
	treatment
Total water discharged (in kilolitres)

5. Has the entity implemented a mechanism for Zero Liquid Discharge? If yes, provide details of its coverage and implementation.

Yes. Wastewater is treated in Sewage treatment plant and common treatment plants.

6. Please provide details of air emissions (other than GHG emissions) by the entity:

6. Please provide details of air emissions (other	than GHG emissions) by the entity:
Parameter Please specifyunit	FY 2023-24 FY 2022-23
NOx Kg Sox Particulate matter (PM) Persistent organic pollutants (POP) Volatile organic compounds (VOC) Hazardous air pollutants (HAP) Others - please specify	114.43 108.68
	21 13.04
	- -
	- -
	- -
	- -
	- -

Note: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

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Growth Strategies

Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity:

9. Provide details related to waste management by the entity:

7. Provide details of greenhouse gas emissions (Scope 1 and Scope 2 emissions) & its intensity:	9. Provide details related to waste management by the entity:
Parameter Unit FY 2023-24 FY 2022-23 Total Scope 1 emissions (Break-up of the GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) tCO2e 1.07 142.07 Total Scope 2 emissions (Break-up of the GHG into CO2, CH4, N2O, HFCs, PFCs, SF6, NF3, if available) tCO2e 109.69 98.73 Total Scope 1 and Scope 2 emissions per rupee of turnover tCO2e/INR 0.000000037 0.0000913 Total Scope 1 and Scope 2 emission intensity per rupee of turnover adjusted for Purchasing Power Parity(PPP) tCO2e/per rupee of turnover adjusted for PPP 0.000000001 0.000000001 Total Scope 1 and Scope 2 emission intensity in terms ofphysical output NA NA NA Total Scope 1 and Scope 2 emission intensity(optional) – the relevant metric may be selected bythe entity tCO2e/ Employees 0.09 0.25 Note:Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency. Yes, by Bureau Veritas	Parameter FY 2023-24 FY 2022-23
	Total wastegenerated (in metric tonnes)
	Plastic waste (A) 2.17 MT *
	E-Waste (B) - *
	Bio-Medical Waste (C) - *
	Construction and demolition waste (D) - *
	Battery For (E) - *
	Radioactive waste (F) - *
	Other Hazardous waste. Please specify, if any. (G) - *
	Other Non-hazardous waste generated (H). Paper 2.6 MT *
	Total (A+B+C+D+E+F+G+H) 4.77 MT
	Waste intensity per rupee of turnover 0.000000001
	Waste intensity per rupee of turnover adjusted Purchasingfor Power Parity(PPP) 0.00000000007
	Waste intensity in terms of physical output NA
	Waste intensity per Full Time Employee (FTE) 0.0044
	For each category of waste generated, total waste recovered through recycling, re-using or other recoveryoperations (in metric tonnes)
	Category of waste
	(i) Recycled 5.38 MT *
	(ii) Re-used - *
	(iii) Other recovery operations (safely disposed) - *
	Total 5.38 MT *

For each category of waste generated, total waste disposed by nature of disposal method (in metric tonnes)

8. Does the entity have any project related to reducing Green House Gas emission? If yes, then provide details:

		Category of waste
(i)	Incineration	-	*
(ii)	Landflling	-	*
(iii)	Other disposal operations	-	*
	Total	-	*

Yes. We are carrying out multiple activities in order to ensure that our carbon and energy footprint is reduced effectively and our office space has been re-certified as ‘Platinum’ with respect to eco-design and green interiors. We have installed CFC/HCFC free refrigerants or Halons in fire extinguishers at our corporate office. CO2 monitoring sensors have also been installed at regular intervals throughout our office space and our interiors are designated as no-smoking zones, with a no-smoking policy and photographs of signages in place for the same. Indoor plants are present in over 95% of the office space. Furthermore, in order to improve energy efficiency across our office space, for our air conditioning system, 100% HVAC with centrifugal chillers have been installed.

*We are in the process of developing mechanisms to track the generation and disposal of the waste.

Note: Indicate if any independent assessment/evaluation/assurance has been carried out by an external agency? (Y/N) If yes, name of the external agency.

Leadership Indicators

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Success Stories

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Growth Strategies

Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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10. Briefly describe the waste management practices adopted in your establishments. Describe the strategy adopted by your company to reduce usage of hazardous and toxic chemicals in your products and processes and the practices adopted to manage such wastes:

In order to improve our waste management practices, we segregate our pantry waste into Food/Plastic and Paper. Bins kept near restrooms in each quadrant facilitate proper disposal of all plastic and paper waste. Additionally, in an effort to efficiently segregate and dispose of our e-waste (small electronic appliances, disks, cables, cartridges etc.), we have designated a bin outside our UPS room.

If the entity has operations/offices in/around ecologically sensitive areas (such as national parks, wildlife sanctuaries, biosphere reserves, wetlands, biodiversity hotspots, forests, coastal regulation zones etc.) where environmental approvals/clearances are required, please specify details in the following format:

We do not have any offices in ecologically sensitive areas.

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Sr. Location of Type of operations Whether the conditions of environmental
No. operations/ approval/clearance are being complied with?
offices (Y/N) If no, the reasons thereof and corrective
action taken, if any
Nil Nil Nil Nil
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Details of environmental impact assessments of projects undertaken by the entity based on applicable laws, in the current Financial Year:

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Name and EIA Date Whether conducted Results Relevant Web
brief details of Notification by independent communicated Links
project Number external agency in public domain
(Yes/No) (Yes/No)
NA NA NA NA NA NA
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Is the entity compliant with the applicable environmental law/regulations/guidelines in India, such as the Water (Prevention and Control of Pollution) Act, Air (Prevention and Control of Pollution) Act, Environment protection act and rules thereunder (Y/N). If not, provide details of all such noncompliances, in the following format:

Yes, we are compliant with the applicable environmental law/regulations/guidelines.

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Sr. Specify the law/ Provide Any fines/penalties/ Corrective Relevant Web
No. regulation/ details of action taken by action taken Links
guidelines which the non- regulatory agencies if any
was not complied compliance such as pollution
with control boards or by
courts
NA NA NA NA NA NA
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1. Please provide details of total Scope 3 emissions & its intensity:

Parameter	Unit	FY 2023-24	FY 2022-23
Total Scope 3 emissions	tCO2e	1021.34	971.23
(Break-up of the GHG into
CO2, CH4, N2O, HFCs,
PFCs, SF6, NF3, if available)
Total Scope 3 emissions per	tCO2e/INR	0.00000035	0.0000003
rupee of turnover
Total Scope 3 emission	tCO2e/FTE	0.94	1.02
intensity per Full Time
Employee (FTE)

2. With respect to the ecologically sensitive areas reported at Question 10 of Essential Indicators above, provide details of significant direct & indirect impact of the entity on biodiversity in such areas along-with prevention and remediation activities:

Our company does not operate in ecologically sensitive areas.

If the entity has undertaken any specific initiatives or used innovative technology or solutions to improve resource efficiency, or reduce impact due to emissions/effluent discharge/waste generated, please provide details of the same as well as outcome of such initiatives:

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Sr. Initiative undertaken Details of the initiative (Web-link, if Outcome of the
No. any, may be provided along-with initiative
summary)
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1	Using wooden spoons	In a bid to reduce plastic waste, we have	Reduction in generation
		switched to using wooden spoons in our	of plastic waste
		canteen
2	UsingLED blubs	100 % old CFL bulbs to LED blubs	Energysavings
3	Elimination of paper cups	We have eliminated the disposable	Reduction in generation
		cup altogether in favour of more	of paper waste
		environmentallysustainable options
4	Changing the refrigerants	We have phased out R-22 from our	Reduction in GHG
	from high GWP to Low	operations which has a higher GWP and	emission
	GWP	replaced with refrigerants with lower GMP

4. Does the entity have a business continuity and disaster management plan? Give details in 100 words/web link:

Yes, the focus of our policy is to ensure that critical business processes of LatentView can continue even in the event of major disruptions. It aims to mitigate the risks to information security caused by short or long-term disruptions and outlines the organization’s strategy for recovery.

LatentView Analytics Annual Report 2023-2024

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Company Overview Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories

Investment Case

Growth Strategies

Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Disclose any significant adverse impact to the environment, arising from the value chain of the entity. What mitigation or adaptation measures have been taken by the entity in this regard: NA
Percentage of value chain partners (by value of business done with such partners) that were assessed for environmental impacts:

NA

Principle 7 - Business, when engaging in Influencing Public and Regulatory Policy, should do so in a manner that is Responsible and Transparent

Essential Indicators

1. a. Number of affiliations with trade and industry chambers/associations.

Not Applicable

b. List the top 10 trade and industry chambers/associations (determined based on the total members of such body) the entity is a member of/affiliated to.

Sr. No.	Name of the trade and industry chambers/ associations	Reach of trade and industry chambers/ associations (State/National)
1 No Not Applicable
2 No Not Applicable

Provide details of corrective action taken or underway on any issues related to anti-competitive conduct by the entity, based on adverse orders from regulatory authorities:

Name of the Authority	Brief of the case	Corrective Action Taken
Not Applicable

Leadership Indicators

1. Details of public policy positions advocated by the entity:

LatentView proactively engages with various stakeholders including industry chambers, associations, governments, and regulators and provides its inputs on various areas. The Company is committed to engaging in the public policy advocacy process in a responsible and ethical manner:

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Sr. Public policy Method Whether Frequency of Review Web Link, if
No. advocated resorted information by Board (Annually/ available
for such available in Half yearly/
advocacy public domain? Quarterly/Others –
(Yes/No) please specify)
None
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Principle 8 - Businesses should Promote inclusive Growth and Equitable Development

Essential Indicators

1. Details of Social Impact Assessments (SIA) of projects undertaken by the entity based on applicable laws, in the current Financial Year:

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Name and SIA Date of Whether Results Relevant Web
brief details of Notification notification conducted by communicated link
project No. independent in public domain
external (Yes/No)
agency (Yes/
No)
Not Applicable
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Provide information on project(s) for which ongoing Rehabilitation and Resettlement (R&R) is being undertaken by your entity:

Sr. No.	Name of Project for which R&R is ongoing	State	District	No. of Project Affected Families (PAFs)	% of PAFs covered by R&R Amounts paid to PAFs in the FY (In INR)
Not Applicable

3. Describe the mechanisms to receive and redress grievances of the community:

We are committed to ensuring ethical business practices and creating a positive impact in society. Our company has several monitoring and evaluation mechanisms to ensure effective implementation of CSR programs to include regular reporting, feedback from beneficiaries and local leaders, field visits, financial updates, audit, and impact assessments conducted by the CSR team and third parties. The Board of Directors also monitors CSR programs periodically.

- - https://www.latentview.com/wp content/uploads/2024/02/csr policy doc.pdf

4. Percentage of input material (inputs to total inputs by value) sourced from suppliers:

	FY 2023-24	FY 2022-23
Directlysourced from MSMEs/smallproducers	8%	12%
Sourced directly from within the district and	17%	24%
neighbouringdistricts

LatentView Analytics Annual Report 2023-2024

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Success Stories

Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Job creation in smaller towns – Disclose wages paid to persons employed (including employees or workers employed on a permanent or non-permanent/on contract basis) in the following locations, as % of total wage cost:

as % of total wage cost:
Location	FY	2023-24	FY	2022-23
Rural		-		-
Semi-urban		-		-
Urban		-		-
Metropolitan		100%		100%

Leadership Indicators

Provide details of actions taken to mitigate any negative social impacts identified in the Social Impact Assessments (Reference: Question 1 of Essential indicators above):

Details of negative social impact identifed.	Corrective action taken
Not Applicable Not Applicable

Provide the following information on CSR projects undertaken by your entity in designated aspirational districts as identified by government bodies:

Sr. No.	State	Aspirational district	Amount spent (in`)
1 Tamil Nadu Ramanathapuram 10,53,000

3.

a. Do you have a preferential procurement policy where you give preference to purchase from suppliers comprising marginalized/vulnerable groups? (Yes/No) No

b. From which marginalized/vulnerable groups do you procure? We are in the process of formulating the implementation of the Sustainable Procurement policy in our procurement practices.

c. What percentage of total procurement (by value) does it constitute? Not Applicable

Details of the benefits derived and shared from the intellectual properties owned or acquired by your entity (in the current Financial Year), based on traditional knowledge:

Sr. No.	Intellectual Property based on traditional knowledge	Owned/Acquired (Yes/No)	Beneft shared (Yes/No)	Basis of calculating beneft share
Not Applicable

Details of corrective actions taken or underway, based on any adverse order in intellectual property related disputes wherein usage of traditional knowledge is involved:

Name of authority	Brief of the Case	Corrective action taken
Not Applicable

6. Details of beneficiaries of CSR projects:

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Sr. CSR Projects (in FY 2023-24) No. of persons benefitted % of beneficiaries
No. from CSR Projects from vulnerable and
marginalized groups
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1	Providing Sponsorship and	493 Students	100%
	mentoring for higher education
	and Career Guidance for
	students frompoor background
2	RTE and E-Sevai Project	RTE: 529 admission for children	100%
		E Sevai: 13,454 EFA operators.
3	Training Teachers and providing	520 Private school teachers	100%
	resource centres for students with	65 dyslexic students
	learningdisabilities
4	Project Apoorva:Dedicated	4169 Government School	100%
	to the holistic development	Students
	of students in grades 9-12,
	especially those hailing from
	low-income backgrounds and
	representing the frst generation
	of learners
5	Chennai Kalpandhu League	270 Government School	100%
	(CKL)	Students
	A platform for students from
	government schools who often
	lack representation in sports.
6	Equipping Government schools	386 Government School	100%
	with Google Future Classrooms	Students
	and training teachers for the
	same
7	Towards A Cleaner	21000 Residents in Velachery	7%
	Velachery project
	Providing door-to-door
	awareness, community
	engagement events, regular
	monitoring and thereby
	infuencing the behavioural
	change towards Solid Waste
	Management and improving
	collection and segregation
	levels.
8	AID India - Eureka after-school	524 children from Rural Villages	7%
	center	of Ramanathapuram

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Statutory Reports Corporate Information Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Principle 9 - Businesses should engage with and provide Value to their Consumers in a Responsible Manner

Essential Indicators

1. Describe the mechanisms in place to receive and respond to consumer complaints and feedback:

We provide a range of channels through which our customers can offer feedback or lodge complaints. We approach each customer's complaint seriously and manage them meticulously at all stages. Upon receipt of complaints, our team conducts a thorough analysis of the incident and formulates an actionable plan for resolution. We maintain close communication with the customer, ensuring they are apprised of the progress made. All customer feedback is received constructively, leading to the refinement of action plans aimed at maximizing customer satisfaction. Our commitment lies in delivering exceptional services to our customers and esteeming their feedback to facilitate the ongoing enhancement of our services.

2. Turnover of products and/services as a percentage of turnover from all products/service that carry information about:

	As a percentage to total turnover
Environmentaland socialparametersrelevant tothe product Not Applicable
Safe andresponsible usage Not Applicable
Recycling and/orsafe disposal Not Applicable

3. Number of consumer complaints:

	FY 2023-24	FY 2023-24	FY 2022-23	FY 2022-23
	Received during the year	Pending resolution at end of year	Received during the year	Pending resolution at end of year
Data privacy	- - NA - - NA
Advertising	- - NA - - NA
Cyber-security	- - NA - - NA
Delivery ofessentialservices	- - NA - - NA
RestrictiveTradePractices	- - NA - - NA
Unfair TradePractices	- - NA - - NA
Other	- - NA - - NA

4. Details of instances of product recalls on accounts of safety issues:

	Number	Reasons for recall
Voluntaryrecalls 0 NA
Forcedrecalls 0 NA

5. Does the entity have a framework/policy on cyber security and risks related to data privacy? (Yes/No) If available, provide a web-link of the policy:

Yes. Our Privacy Policy aims to ensure the privacy of Personal Information processed by LatentView by implementing necessary controls and complying with legal and regulatory requirements. It also seeks to create a culture of privacy

in the organization by promoting awareness among employees. The policy is applicable to all employees, including contractual employees and interns. Our commitment to data privacy is evident from our emphasis on the protection of personal information, which is crucial in today’s digital age where data breaches are a constant threat. The policy helps to build trust among our customers and stakeholders, demonstrating our commitment to data privacy and protection.

Web-link is available in Intranet.

6. Provide details of any corrective actions taken or underway on issues relating to advertising and delivery of essential services; cyber security and data privacy of customers; re-occurrence of instances of product recalls; penalty/action taken by regulatory authorities on safety of products/services:

We are certified for ISO 27001:2018 which ensures accessibility, confidentiality and integrity of information security. LatentView did not have any incidents leading to regulatory issues/penalties related to advertising and delivery of essential services, cyber security and data privacy of customers.

7. Provide the following information relating to data breaches:

a. Number of instances of data breaches along-with impact: Nil

b. Percentage of data breaches involving personally identifiable information of customer: Nil

c. Impact, if any, of the data breaches: NA

Leadership Indicators

Channels/platforms where information on products and services of the Company can be accessed: The same can be accessed from our website. https://www.latentview.com/

2. Steps taken to inform and educate consumers, especially vulnerable and marginalised consumers, about safe and responsible usage of products and services:

Not Applicable

3. Mechanisms in place to inform consumers of any risk of disruption/discontinuation of essential services:

In LatentView, every customer relationship includes a business continuity mechanism to address service or product disruptions effectively. Additionally, a well-planned communication strategy ensures stakeholders receive timely updates, fostering transparency and trust during challenging situations.

4. Does the entity display product information on the product over and above what is mandated as per local laws? (Yes/No/Not Applicable) If yes, provide details in brief. Did your entity carry out any survey with regard to consumer satisfaction relating to the major products/services of the entity, significant locations of operation of the entity or the entity as a whole? (Yes/No) Not Applicable

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2. Statutory Reports Corporate Information

Board’s Report

Business Responsibility and Sustainability Report Corporate Governance Report

Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Annexure – 6 to the Board’s Report

Statement of Disclosure of Remuneration under Section 197 of Companies Act, 2013 and Rule 5(1) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

The ratio of the remuneration of each Director and Key Managerial Personnel to the median remuneration of the employees of the Company for the Financial Year ended March 31, 2024 and percentage increase in remuneration compared to last Financial Year:
Average percentile increase already made in the salaries of employees other than the managerial personnel in the last Financial Year and its comparison with the percentile increase in the managerial remuneration and justification thereof and point out if there are any exceptional circumstances for increase in the managerial remuneration:

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Remuneration for the % Increase in Ratio to median
FY 2023-24 (in `) [#] remuneration remuneration of
compared to last FY employees
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On an average there was a increase in remuneration of 21.57 % to Managerial Personnel as compared with the increase of 18.94% to other employees. The increase in Managerial remuneration was primarily driven by the annual wage hike paid to CEO in FY 2023-24 and due to additional hires made during FY 2023-24 in other than Management category.

Whole Time Directors
A.V. Venkatraman	1,20,00,000	-4%	10.64
Pramadwathi Jandhyala	1,20,00,000	-2%	10.64
Independent Directors
Dipali Sheth	22,00,000	22%	1.95
Mukesh Butani	21,50,000	23%	1.91
R. Raghuttama Rao	23,00,000	15%	2.04
Reed Cundiff	23,50,000	31%	2.08
Chief Executive Offcer
Rajan Sethuraman	2,03,50,000	73%	18.04
Chief Financial Offcer
Rajan Bala Venkatesan	73,40,000	28%	6.51
CompanySecretary
P. Srinivasan	24,48,204	48%	2.17

5. Affirmation that the remuneration is as per the remuneration policy of the Company:

Your Company affirms that the remuneration of Directors and Key Managerial Personnel was as per the Remuneration Policy of the Company.

The statement containing names of top ten employees in terms of remuneration drawn and the particulars of employees as required under Section 197(12) of the Act read with Rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is provided in a separate annexure forming part of this report. Further, the report and the accounts are being sent to the Members excluding the aforesaid annexure. In terms of Section 136 of the Act, the said annexure is open for inspection. Any Member interested in obtaining a copy of the same may write to the Company Secretary at [email protected].

By order of the Board of Directors

FOR LATENT VIEW ANALYTICS LIMITED

In the Financial Statements, fees and commissions paid to Independent Directors has been disclosed on an accrual basis, however in the above section for the purpose of better comparison, it has been disclosed on an actual basis.

A.V. Venkatraman

Pramadwathi Jandhyala Whole-Time Director (DIN: 00732854)

Executive Chairperson (DIN: 01240055)

*Median remuneration for the FY 2023-24 – ` 11,28,232.

Percentage increase in the median remuneration of employees in the Financial Year ended March 31, 2024:

Place: Chennai Date: May 07, 2024

There was a increase in the median remuneration by 2.74%.

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No. of permanent employees on the rolls of Company as on March 31, 2024:

1082

LatentView Analytics Annual Report 2023-2024

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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Corporate Governance Report

Pursuant to Regulation 34 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing Regulations") the report containing details of the Corporate Governance of the Company for the Financial Year 2023-2024 is as follows:

1) BRIEF STATEMENT ON COMPANY’S PHILOSOPHY ON CODE OF CORPORATE GOVERNANCE

LatentView is firmly committed to upholding the highest standards of Corporate Governance, ensuring that the Company's operations are conducted with integrity, accountability, transparency, and fairness. This entails the integration of legal and managerial best practices into the decision-making process and the accurate and timely communication of these practices to stakeholders, aligning with both their expectations and legal obligations.

LatentView endeavours to adhere to the Corporate Governance requirements outlined in the Listing Regulations, and subsequent amendments thereto. We recognize the importance of protecting the rights of our stakeholders by promptly disclosing accurate and sufficient information regarding our financial status and performance.

LatentView places paramount importance on Corporate Governance, recognizing it as a cornerstone of our business success. Our governance principles are rooted in the steadfast commitment to conducting business ethically and with maximum efficiency.

2) BOARD OF DIRECTORS

(a) Board Structure

As on March 31, 2024, our Board comprises of 6 Directors out of which 2 are Executive Promoter Directors and 4 are Non-Executive Independent Directors including a Woman Independent Director. The Board of Directors comprises a well-rounded assembly of professionals distinguished by their expertise, diverse backgrounds, and independence in their areas of specialization and have held eminent positions in respective fields.

(b) Core Skills/Expertise/Competencies of the Board of Directors

The Directors of the Company possess wide range of skills and experience which enhances the quality of the Board’s decision-making process. The below list summarizes the key skills, expertise and competencies that the Board thinks necessary for the proper functioning in the context of the Company’s business and industry and which in the opinion of the Board, its members possess:

i. Leadership, Management & Governance;
ii. Business & Industry Knowledge;
iii. Technology Background;
iv. Experience on ESG;
v. People Management;
vi. Risk Expertise;
vii. Strategic and Analytical Mindset;
viii. Legal, Regulatory and Financial Knowledge; and
ix. Interpersonal Skills and Personal Values.
x. Audit and Financial Management

The details of the Board members as on March 31, 2024, are as follows and the profiles of our directors are available on our website at https://www.latentview.com/investor-relations/corporateinformation/#corporate-info

The composition of the Board is in conformity with Regulation 17 of the Listing Regulations read with Section 149 of the Companies Act, 2013 (“the Act”).

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The Board of Directors

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement

A.V. Venkatraman Executive Chairperson (Promoter)

No. of Committee Memberships/
Chairmanship held in other
Indian Public companies as
per Regulation 26 of Listing
Regulations
Member:
Nil
Chairperson:Nil
Areas of expertise
Business & Industry knowledge
Leadership, Management & Governance
Technology background
People Management
Nationality:
Indian
Age:
53 Years
Date of appointment:
January 03, 2007
Date of reappointment:
August 05, 2021
Tenure of Appointment:
5 Years
Inter Se relationship with Director:
Spouse of Pramadwathi Jandhyala
Shareholding:
11,79,06,923 Shares
No. of other Directorships held:
Nil
Board memberships in other
listed companies:
Nil
Strategic and analytical mindset
Interpersonal skills and personal values
Risk expertise

For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.
Notice to the AGM

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Pramadwathi Jandhyala Wholetime Director (Promoter)

No. of Committee Memberships/
Chairmanship held in other
Indian Public companies as
per Regulation 26 of Listing
Regulations
Member:
Nil
Chairperson:Nil
Areas of expertise
Business & Industry knowledge
Strategic and analytical mindset
Leadership, Management & Governance
Interpersonal skills and personal values
People Management
Nationality:
Indian
Age:
51 Years
Date of appointment:
January 01, 2006
Date of reappointment:
August 05, 2021
Tenure of Appointment:
5 Years
Inter Se relationship with Director:
Spouse of A.V. Venkatraman
Shareholding:
1,68,00,000 Shares
No. of other Directorships held:
Nil
Board memberships in other
listed companies:
Nil
Risk expertise
Technology background
Legal, regulatory and fnancial knowledge

For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.

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The Board of Directors

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Dipali Sheth Independent Director

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|||||
|---|---|---|---|
|Nationality:|Indian|No. of Committee Memberships/|Areas of expertise|
|Chairmanship held in other|
|Age:|58 Years|Indian Public companies as|Leadership, Management & Governance|
|Date of appointment:|June 18, 2021|per Regulation 26 of Listing|
|Regulations|Business & Industry knowledge|
|Tenure of Appointment:|5 Years|
|Member:|4|
|Inter Se relationship with Director:|No|Experience on ESG|
|Chairperson: Nil|
|Shareholding:|Nil|
|People Management|
|No. of other Directorships held:|8|
|Strategic and analytical mindset|
|Board memberships in other listed companies:|
|1. Adani Wilmar Limited - Independent Director|
|Interpersonal skills and personal values|
|2. UTI Asset Management Company Limited - Independent Director|
|3. Spandana Sphoorty Financial Limited - Independent Director|
|4. Welspun Corp Limited - Independent Director|Audit and Financial Management|

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For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.
Notice to the AGM

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Mukesh Butani Independent Director

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|||||
|---|---|---|---|
|Nationality:|Indian|No. of Committee Memberships/|Areas of expertise|
|Chairmanship held in other|
|Age:|60 Years|Indian Public companies as|Leadership, Management & Governance|
|Date of appointment:|July 23, 2021|per Regulation 26 of Listing|
|Business & Industry knowledge|
|Regulations|
|Tenure of Appointment:|5 Years|
|Member:|2|People Management|
|Inter Se relationship with Director:|No|
|Chairperson: 2|
|Shareholding:|Nil|Risk expertise|
|No. of other Directorships held:|6|Strategic and analytical mindset|
|Board memberships in other listed companies:|
|Legal, regulatory and financial knowledge|
|1. Dabur India Limited - Independent Director|
|2. Hitachi Energy India Limited - Independent Director|Interpersonal skills and personal values|
|3. United Spirits Limited - Independent Director|
|Audit and Financial Management|

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For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.

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The Board of Directors

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement

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R. Raghuttama Rao Independent Director

No. of Committee Memberships/
Chairmanship held in other
Indian Public companies as
per Regulation 26 of Listing
Regulations
Member:
3
Chairperson:Nil
Nationality:
Indian
Age:
61 Years
Date of appointment:
July 23, 2021
Tenure of Appointment:
5 Years
Inter Se relationship with Director:
No
Shareholding:
16,000 Shares
No. of other Directorships held:
4
Board memberships in other listed companies:
1. Wheels India Limited - Independent Director
2. Sundaram Fianance Limited - Independent Director

For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.

Areas of expertise

Leadership, Management & Governance Business & Industry knowledge Experience on ESG People Management Risk expertise Strategic and analytical mindset Legal, regulatory and financial knowledge Interpersonal skills and personal values Audit and Financial Management

Notice to the AGM

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Reed Cundiff Independent Director

	No. of Committee Memberships/ Chairmanship held in other Indian Public companies as per Regulation 26 of Listing Regulations Member: Nil Chairperson:Nil Nationality: American Age: 51 Years Date of appointment: July 23, 2021 Tenure of Appointment: 5 Years Inter Se relationship with Director: No Shareholding: Nil No. of other Directorships held: Nil Board memberships in other listed companies : Nil

For committee positions audit committee and the stakeholders relationship committee are considered.
Directorships excluding Alternative Directorship, Directorships in Foreign Companies.

Areas of expertise Leadership, Management & Governance Business & Industry knowledge Technology background People Management Risk expertise Strategic and analytical mindset Interpersonal skills and personal values

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(c) Board Meetings, Attendance and Other Directorships

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Notice to the AGM

During the Financial Year 2023-24, 5 meetings of the Board were held and the gap between two meetings did not exceed 120 days. In order to facilitate well-informed decision-making, the agenda and related documents were circulated to the Directors ahead of time. The minutes of all Board and Committee meetings were also circulated to all Directors and members of the respective committees, with comments taken into account before finalization. The Board meeting is generally convened at least once every quarter to evaluate the Company’s financial results and performance either through video conference or through physical presence. Wherever necessary, the circular resolutions were passed in accordance with applicable laws and were confirmed during the subsequent Board/Committee meetings.

The necessary quorum was present for all the meetings.

Details of Board meetings held and attendance during Financial Year 2023-24:

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Name of the Director Category AGM on July Date of Board Meeting Meeting
28, 2023 1 2 3 4 5 Held Attended % of attendance
May 09, July 27, October 27, January 29, March 28,
2023 2023 2023 2024 2024
A.V. Venkatraman Executive Chairperson 5 5 100
Pramadwathi Jandhyala Whole Time Director 5 5 100
Dipali Sheth Independent Director 5 5 100
Mukesh Butani Independent Director 5 5 100
R. Raghuttama Rao Independent Director 5 5 100
Reed Cundiff Independent Director 5 5 100
% of Attendance 100 100 100 100 100 100
----- End of picture text -----

Attended through VC/OAVM Present

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(d) Independent Directors

Independent Directors of the Company are Non-Executive Directors as defined under Regulation 16(1)(b) of the Listing Regulations and Section 149(6) of the Act along with rules framed thereunder. The tenure of Independent Directors complies with the Act.

They have also confirmed their registration with the Independent Directors databank maintained by the Indian Institute of Corporate Affairs, in compliance with the requirements of the Companies (Appointment and Qualifications of Directors) Rules, 2014. Pursuant to Regulation 25(8) of Listing Regulations, they have affirmed that they are unaware of any circumstance or situation currently existing or reasonably anticipated that could hinder or affect their capability to discharge their duties. Based on the declarations received from the Independent Directors, the Board of Directors has confirmed that they meet the criteria of independence pursuant to Regulation 16(1)(b) of the Listing Regulations and Section 149(6) of the Act and that they are independent of the management.

Pursuant to Regulation 25(3) of the Listing Regulations and Schedule IV of the Act, a separate meeting of Independent Directors was convened on January 29, 2024, for FY 2023-24, and inter-alia discussed:

(i) performance of Non-Independent Directors and the Board of Directors as a whole;

(ii) performance of the Chairperson of the Company;

(iii) assess the quality, quantity, and timeliness of flow of information between the management of the Company and the Board of Directors that is necessary for the Board to effectively and reasonably perform their duties; and

(iv) other related matters.

The meeting was chaired by Dipali Sheth and was held without the presence of Non-Independent Directors and members of the management.

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Success Stories

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

The Directors of the Company are familiarised with the Company's operations, business activities, industry landscape, and the regulatory framework governing its operations. The details of familiarization programmes imparted to Independent Directors during Financial Year 2023-24 have been disclosed on the website of the Company at - - https://www.latentview.com/investor relations/corporate governance/

(e) Training of Board members

All Board members of the Company are accorded every opportunity to familiarise themselves with the Company, its management, its operations and above all, the industry perspective and issues. They are made to interact with senior management personnel and proactively provided with relevant news, views and updates on the Company and sector. All the information/documents sought by them are also shared with them for enabling a good understanding of the Company, its various operations and the industry of which it is a part. Separate sessions are organised during the year with domain experts to enable Board members to update their knowledge of the sector.

Further any new Non-Executive Directors joining the Board undergo orientation sessions to acquaint them with our Company culture. During these sessions, Executive Directors and senior management offer insights into our operations, values, and commitments. They are also introduced to the organization structure, services, group structure and subsidiaries, constitution, Board procedures, matters reserved for the Board, major risks and risk management strategy. The details of the familiarization program are also available on the Company’s website, at https://www. - - latentview.com/investor relations/corporate governance/

(f) CEO/CFO Certification

Pursuant to Regulation 17(8) of the Listing Regulations, the CEO and CFO have issued a joint certificate verifying that the Financial Statements are free from any materially false statement, and accurately reflect the Company’s current state of affairs. The said certificate has been appended as ”Annexure - A” to this report.

(g) Code of conduct for Directors and Senior Management

The Company has adopted a Code of Conduct for the Board of Directors and Senior Management Personnel to ensure that the Company's operations adhere to the highest standards of ethics and values, in accordance with applicable laws, regulations, and rules, thereby contributing significantly to the Company's success. The Code is - - available on the Company’s website at https://www.latentview.com/investor relations/corporate governance/.

All the Board Members and Senior Management Personnel have affirmed compliance with the Code for the Financial Year 2023-24. A declaration signed by the CEO & CFO to this effect is provided as part of “Annexure - A” to this Report.

3) AUDIT COMMITTEE

The Audit Committee also invites the Chief Executive Officer, Chief Financial Officer, representatives of Internal Auditors, representatives of Statutory Auditors, and such executives as it considers appropriate at its meetings.

(a) Terms of Reference

The broad terms of reference of the Audit Committee, as approved by the Board, in compliance with Section 177 of the Act and Regulation 18 of the Listing Regulations, are as follows:

1) The recommendation for appointment, remuneration and terms of appointment of auditors;
2) Review and monitor the auditor’s independence and performance, and effectiveness of audit and audit process;
3) Examination of the financial statement and the auditor’s report;
4) Approval or any subsequent modification of the transactions of the Company with related parties;
5) Grant omnibus approval for related party transactions;
6) Make recommendations to the Board where it does not approve the related party transaction other than transactions specified in Section 188 of the Companies Act;
7) Scrutinize inter-corporate loans & investments;
8) Valuation of undertakings or assets of the Company;
9) Monitoring the end use of funds raised through public offers;
10) Call for comments of the auditors about internal control systems, scope of audit, including observations of the auditors and review of financial statement before their submission to the board;
11) Discuss issues related to the Financial Statements with the internal and statutory auditors and the management;
12) To investigate into any matters in relation to items 1 to 9 above or any matter referred by the Board within its terms of reference and for this purpose, it shall seek information from any employee;
13) Obtain outside legal or other professional advice; and secure attendance of outsiders with relevant expertise if it considers necessary; and
14) Such other powers as may be prescribed from time to time under the Companies Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’).

The Audit Committee (“AC”) has been constituted by the Board in compliance with the requirements of Section 177 of the Act and Regulation 18 of the Listing Regulations. The Board of Directors has entrusted the Audit Committee the duty to oversee the processes, ensuring accurate and timely disclosures that uphold the transparency, integrity, and quality of financial control and reporting.

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LatentView Analytics Annual Report 2023-2024

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(b) Composition of Committee and Meetings held during the year

As on March 31, 2024, the Committee comprised of 4 members comprising of 3 Independent Directors and 1 Executive Director. The members of the Committee are financially literate and bring in expertise in the fields of Accounting & Finance, Strategy and Management. Mukesh Butani, the Chairperson of the Audit Committee is an Independent Director and has expert knowledge in accounts & finance, banking, corporate laws, and governance matters and he attended the last Annual General Meeting of the Company held on July 28, 2023.

Strategic Review

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Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

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Financial Statements Consolidated Financial Statement Standalone Financial Statement

Details of Committee Meeting held during Financial Year 2023-24:

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Name of the Member Category of Directorship Date of Meeting Meeting
1 2 3 4 Held Attended % of
attendance
May 09, July 27, October 27, January 29,
2023 2023 2023 2024
Mukesh Butani, Chairperson Independent Director 4 4 100
R. Raghuttama Rao Independent Director 4 4 100
Pramadwathi Jandhyala Whole Time Director 4 4 100
Dipali Sheth Independent Director NA NA NA 1 1 100
% of Attendance 100 100 100 100
Attended through VC/OAVM Present
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*Dipali Sheth was appointed as the member of Audit Committee with effect from January 29, 2024.

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

The Company Secretary acts as the Secretary to the Committee.

The minutes of the meetings of the Committee were placed before and noted by the Board.

4) NOMINATION AND REMUNERATION COMMITTEE

The Nomination and Remuneration Committee (“NRC”) has been constituted by the Board in adherence to the mandates outlined in Section 178 of the Act and Regulation 19 of the Listing Regulations. The Committee consists of a majority of Independent Directors.

The Committee has pursuant to Section 178 of the Act and Regulation 19(4) of Listing Regulations formulated a Nomination and Remuneration Policy intended to set out a framework for nomination, evaluation, and remuneration of Board of Directors, Key Management Personnel and Senior Management Personnel of the Company. A copy - of the Policy is available on the website of the Company at https://www.latentview.com/investor relations/ corporate-governance/

(a) Terms of Reference

The broad terms of reference of the NRC, as approved by the Board, in compliance with Section 178 of the Act and Regulation 19 of the Listing Regulations, are as follows:

1) Formulation of the criteria for determining qualifications, positive attributes and independence of a director and recommend to the board of directors of the Company (the “Board” or “Board of Directors”) a

policy relating to the remuneration of the directors, key managerial personnel, and other employees (“Nomination & Remuneration Policy”).

The Nomination and Remuneration Committee, while formulating the above policy, should ensure that:

(i) the level and composition of remuneration be reasonable and sufficient to attract, retain and motivate directors of the quality required to run our Company successfully.
(ii) relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and
(iii) remuneration to directors, key managerial personnel and senior management involves a balance between fixed and incentive pay reflecting short-term and long-term performance objectives appropriate to the working of the Company and its goals.
2) Formulation of criteria for evaluation of independent directors and the Board.
3) Devising a policy on Board diversity.
4) Identifying persons who are qualified to become directors and who may be appointed in senior management in accordance with the criteria laid down and recommend to the Board their appointment and removal and shall specify the manner for effective evaluation of performance of Board, its committees, and individual

114

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
11) Administering, monitoring, and formulating detailed terms and conditions of the employee stock option scheme, if any, of the Company.

directors to be carried out either by the Board, by the Nomination and Remuneration Committee or by an independent external agency and review its implementation and compliance.

12) Reviewing and approving the Company’s compensation strategy from time to time in the context of the then current Indian market in accordance with applicable laws.
5) Whether to extend or continue the term of appointment of the independent director, based on the report of performance evaluation of independent directors.
13) Performing such functions as are required to be performed by the compensation committee under the Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014, if applicable.
6) Recommend to the board, all remuneration, in whatever form, payable to senior management and other staff, as deemed necessary.
14) Framing suitable policies, procedures, and systems to ensure that there is no violation of securities laws, as amended from time to time, including:
7) Carrying out any other functions required to be carried out by the Nomination and Remuneration Committee as contained in the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) or any other applicable law, as and when amended from time to time.
(a) the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015; and
8) Analysing, monitoring, and reviewing various human resource and compensation matters.
(b) the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to the Securities Market) Regulations, 2003, by the trust, the Company, and its employees, as applicable; and
9) Deciding whether to extend or continue the term of appointment of the independent director, based on the report of performance evaluation of independent directors.
10) Determining the Company’s policy on specific remuneration packages for Executive Directors including pension rights and any compensation payment and determining remuneration packages of such directors.
15) Performing such other activities as may be delegated by the Board or specified/provided under the Companies Act, 2013 to the extent notified and effective, as amended or by the SEBI Listing Regulations, as amended or by any other applicable law or regulatory authority.

(b) Meetings of the Committee:

As on March 31, 2024, the Committee comprised of 4 members with 3 Independent Directors and 1 Executive Director. Dipali Sheth, the Chairperson of the Committee, attended the last Annual General Meeting of the Company held on July 28, 2023.

Notice to the AGM

Details of Committee Meeting held during Financial Year 2023-24:

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LatentView Analytics Annual Report 2023-2024

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----- Start of picture text -----

Name of the Mmebers Category of Directorship Date of Meeting Meeting
1 2 Held Attended % of
attendance
May 09, January 29,
2023 2024
Dipali Sheth, Chairperson Independent Director 2 2 100
R. Raghuttama Rao Independent Director 2 2 100
Reed Cundiff Independent Director 2 2 100
A.V. Venkatraman Whole Time Director 2 2 100
% of Attendance
Attended through VC/OAVM Present
----- End of picture text -----

The Company Secretary acts as the Secretary to the Committee.

The minutes of the meetings of the Committee were placed before and noted by the Board.

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Strategic Review

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(c) Performance evaluation criteria for the Independent Directors

The evaluation process for assessing the performance of the Board, its various committees, and individual Directors was conducted transparently and confidentially. Each Director contributed by sharing their feedback on various parameters, such as the operations of the Board and its Committees, the execution of specific duties, the quality, quantity, and timeliness of information flow between the Board and Management, and the exercise of independent judgment, through a questionnaire.

The Independent Directors at their meeting held on January 29, 2024, evaluated the performance of the Non-Independent Directors, including the Chairperson and the Board as a whole.

The indicative criteria for evaluation of performance of the Independent Director are as under:

i. Attendance and Participation at Board and Committee meetings;
ii. Raising of concerns to the Board;
iii. Safeguard of confidential information;
iv. Rendering independent, unbiased opinion and resolution of issues at meetings;
v. Initiative in terms of new ideas and planning for the Company;
vi. Safeguarding interest of whistle-blowers under vigil mechanism;
vii. Timely input on the minutes of the meetings of the Board and Committees.

(b) Composition of Committee and Meetings held during the year

5) CORPORATE SOCIAL RESPONSIBILITY COMMITTEE

The Company has formed a Corporate Social Responsibility (“CSR”) Committee in compliance with Section 135 of the Act. The purpose of CSR Committee is to develop and propose a CSR policy to the Board, as well as recommend various avenues in which the Company shall contribute to the CSR activities. The CSR policy is available on our website at https://www.latentview.com/investor-relations/corporate-governance/

(a) Terms of Reference

The broad terms of reference of the Corporate Social Responsibility Committee, as approved by the Board, are as follows:

1) formulate and recommend to the Board, a “Corporate Social Responsibility Policy” which shall indicate the activities to be undertaken by the Company as specified in Schedule VII of the Companies Act, 2013.
2) review and recommend the amount of expenditure to be incurred on the activities referred to in clause (a).
3) monitor the corporate social responsibility policy of the Company and its implementation from time to time; and
4) any other matter as the Corporate Social Responsibility Committee may deem appropriate after approval of the Board or as may be directed by the Board from time to time.

As on March 31, 2024, the Committee comprised of 3 members with 1 Independent Director and 2 Executive Directors. Pramadwathi Jandhyala, the Chairperson of the Committee attended the last Annual General Meeting of the Company held on July 28, 2023.

Details of Committee Meeting held during Financial Year 2023-24

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Name of the Mmebers Category of Directorship Date of Meeting Meeting
1 2 Held Attended % of
attendance
June 07, January 11,
2023 2024
Pramadwathi Jandhyala, Chairperson Whole Time Director 2 2 100
A.V. Venkatraman Whole Time Director 2 2 100
Dipali Sheth Independent Director 2 2 100
% of Attendance 100 100
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LatentView Analytics Annual Report 2023-2024

Attended through VC/OAVM

The Company Secretary acts as the Secretary to the Committee

The minutes of the meetings of the Committee are placed before and noted by the Board.

Strategic Review Company Overview

Founders’ Address

Letter to Shareholders

Management Quotes

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6) STAKEHOLDER RELATIONSHIP COMMITTEE

The Stakeholders’ Relationship Committee (“SRC”) has been constituted by the Board in compliance with the requirements of Section 178 of the Act and Regulation 20 of the Listing Regulations. The SRC addresses and resolves shareholder grievances, including concerns such as non-receipt of annual reports, transfer and transmission of shares, non-receipt of dividends/interests, and any other grievances raised by security holders as they arise.

P. Srinivasan, Company Secretary, is the Compliance Officer for complying with the requirements of the Listing Regulations.
3) Review of adherence to the service standards adopted by the Company in respect of various services being rendered by the Registrar and Share Transfer Agent; and
4) Considering and specifically looking into various aspects of interest of shareholders, debenture holders and other security holders.
5) Investigating complaints relating to allotment of shares, approval of transfer or transmission of shares, debentures, or any other securities.

Performance Review

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Notice to the AGM
6) Giving effect to all transfer/transmission of shares and debentures, dematerialization of shares and rematerialization of shares, split and issue of duplicate/Consolidated share certificates, compliance with all the requirements related to shares, debentures, and other securities from time to time.

(a) Terms of Reference

The broad terms of reference of the SRC, as approved by the Board, are as follows:

1) Resolving the grievances of the security holders of the Company including complaints related to transfer/ transmission of shares, non-receipt of annual report, non-receipt of declared dividends, issue of new/ duplicate certificates, general meetings etc.
7) Review of the various measures and initiatives taken by the Company for reducing the quantum of unclaimed dividends and ensuring timely receipt of dividend warrants/annual reports/statutory notices by the shareholders of the Company.
2) Review of measures taken for effective exercise of voting rights by shareholders.
8) Carrying out such other functions as may be specified by the Board from time to time or specified/provided under the Companies Act or SEBI Listing Regulations, or by any other regulatory authority.

(b) Meetings of the Committee:

As on March 31, 2024, the SRC comprised of 3 members with 1 Independent Director and 2 Executive Directors. Reed Cundiff, Chairperson of the Committee attended the last Annual General Meeting of the Company held on July 28, 2023.

Details of Committee Meeting held during Financial Year 2023-24

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Name of the Member Category of Directorship Date of Meeting Meeting
1 2 3 4 Held Attended % of
attendance
May 04, July 27, October 26, January 24,
2023 2023 2023 2024
Reed Cundiff, Chairperson Independent Director 4 4 100
A.V. Venkatraman Whole Time Director 4 4 100
Pramadwathi Jandhyala Whole Time Director 4 4 100
% of Attendance 100 100 100 100
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Attended through VC/OAVM Present

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The Company Secretary acts as the Secretary to the Committee.

The minutes of the meetings of the Committee are placed before and noted by the Board.

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Strategic Review

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(c) Details of complaints received and resolved during the FY 2023-24:

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Particulars No. of Complaints
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Openingas on April 01, 2023	0
Received duringtheyear	0
Resolved duringtheyear	0
Closingas on March 31, 2024	0

7) RISK MANAGEMENT COMMITTEE

The Risk Management Committee (“RMC”) has been constituted by the Board in compliance with the requirements of Regulation 21 of the Listing Regulations. The terms of reference of the RMC includes the matters specified under Regulation 21 and Part D of Schedule II of the Listing Regulations, as amended from time to time, and other matters referred by the Board. The primary role of RMC includes identifying the risks impacting the Company’s business and formulate the strategies aimed at risk minimisation and risk mitigation as a part of risk management.

(a) Terms of Reference

The broad terms of reference of the RMC, as approved by the Board, in compliance with Section 134(3)(n) of the Act and Regulation 21 of the Listing Regulations, are as follows:

1) To formulate a detailed risk management policy which shall include:
(a) A framework for identification of internal and external risks specifically faced by the listed entity, including financial, operational, sectoral, sustainability (particularly, ESG related risks), information, cyber security risks or any other risk as may be determined by the Committee.
(b) Measures for risk mitigation including systems and processes for internal control of identified risks.
(c) Business continuity plan.
2) To ensure that appropriate methodology, processes and systems are in place to monitor and evaluate risks associated with the business of the Company.
4) To periodically review the risk management policy, at least once in two years, including by considering the changing industry dynamics and evolving complexity.
5) To keep the board of directors informed about the nature and content of its discussions, recommendations and actions to be taken.
6) The appointment, removal and terms of remuneration of the Chief Risk Officer wherever necessitated shall be subject to review by the Risk Management Committee.
7) The Risk Management Committee shall evaluate risks related to cyber security and ensure appropriate procedures are placed to mitigate these risks in a timely manner.
8) The Risk Management Committee may delegate matters to a panel comprising a minimum of two members of the Committee plus such additional individuals with relevant expertise as deemed appropriate, and subject to terms of reference (including protocols for escalation to the Committee) as determined by the Committee.
9) The Risk Management Committee shall make regular reports to the Board, including with respect to risk management and minimization procedures along with its recommendations to the Board.
10) The Risk Management Committee shall review and reassess the adequacy of its Charter periodically and recommend any proposed changes to the Board for approval.
11) The Risk Management Committee shall have access to any internal information necessary to fulfill its oversight role.
12) The Risk Management Committee shall also have authority to obtain advice and assistance from internal or external legal, accounting, or other advisors and secure attendance of outsiders with relevant expertise, if it considers necessary.
13) The Risk Management Committee shall coordinate its activities with other committees, in instances where there is any overlap with activities of such committees, as per the framework laid down by the board of directors.
3) To monitor and oversee implementation of the risk management policy, including evaluating the adequacy of risk management systems.

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(b) Meetings of the Committee:

As on March 31, 2024, the RMC comprised of 3 Members with 2 Independent Directors and the Chief Executive Officer of the Company.

Details of Committee Meeting held during Financial Year 2023-24

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Name of the Mmebers Category of Directorship Date of Meeting Meeting
1 2 Held Attended % of
attendance
August 30, February 21,
2023 2024
R. Raghuttama Rao, Chairperson Independent Director 2 2 100
Reed Cundiff Independent Director 2 2 100
Rajan Sethuraman Chief Executive Officer 2 2 100.00
% of Attendance 100 100
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Attended through VC/OAVM

The Company Secretary acts as the Secretary to the Committee.

The minutes of the meetings of the Committee are placed before and noted by the Board.

4) Authorise/grant Power of Attorney to one or more persons to represent before authorities under Income Tax, Sales Tax, GST, Ministry of Corporate Affairs, the Reserve Bank of India, the Registrar of Companies, Foreign Investment Promotion Board, STPI, SEZ, Stock exchanges and and/or other statutory authorities under Central and/or State Governments.

8) BANKING AND AUTHORIZATION COMMITTEE

The Company has established a Banking and Authorization Committee (“BAC”) to streamline administrative and operational processes. This committee is responsible for reviewing and approving authorizations necessary for banking operations and other routine business activities.

5) Authorise/grant Power of Attorney to one or more persons to initiate and/or defend all legal proceedings including appointment of counsel, attorneys, mediators, arbitrators on behalf of the Company and to execute affidavits, appeals, applications, petitions, and other documents and all such necessary/incidental steps necessary in this regard.

(a) Terms of Reference

The broad terms of reference of the BAC, as approved by the Board, are as follows:

1) Opening and/or Closure of Bank Accounts/Opening and/or Closure of Demat Accounts/Hedging Accounts/Forex Accounts/Derivative/Forex Transactions/Internet Banking Authorisations/Cash Management Services with various banks in India and/or outside India and change in operations of Bank Accounts, issuing letter of continuity and all such matters related to operations of the Current and Cash Credit Accounts.
6) Authorise one or more employees of the Company under Section 113 of the Companies Act, 2013 to attend and vote at the meetings of the companies where the Company is a shareholder/debenture holder, meetings of creditors and meetings convened by the orders of the Court and to nominate/change nominee shareholders in any Subsidiary or Associate Companies from time to time to ensure the presence of quorum at their General Meetings and to ensure minimum number of members under the Companies Act 2013.
2) Appoint, modify and/or delete signatories to all/any Bank, Forex, Demat accounts of the Company.
7) Authorise employees of the Company in matters relating to opening and/or closing of representative/branch offices in India or other countries.
3) Authorise/Grant Power of Attorneys to employees of the Company for bidding in tenders, marketing, representing the Company in routine business matters.

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12) Avail Term Loan facilities including through Non-Convertible Debentures from various banks/financial institutions for the prescribed limit as approved by Board from time to time.
8) Authorise/grant Power of Attorney to one or more persons at various units for administrative purposes viz. applying for telephone/internet/power connection and/or dealing with local municipal authorities, shop act authorities and related matters.
13) Creation of security or charge including but not limited to hypothecation, mortgage, pledge, bailment etc. on the moveable and/or immovable properties.
9) Authorise/give Power of Attorney to one or more persons to make application to Central Government, Ministry of Corporate Affairs, Foreign Investment Promotion Board, Enforcement Directorate, Reserve Bank of India, Registrar of Companies for various permissions required under various Statutory enactments.
14) Authorise any person to affix seal of the Company to any instrument by the authority of a resolution.
10) Authorise one or more persons to execute and/or register any documents, deeds, papers for purchase/sale/ take or give on lease and/or Leave & License basis, land, factory, office premises and/or residential premises for the purpose of business.
15) To revoke the powers delegated to the employee(s) by the Board and/or Committee(s) thereof from time to time.
16) Invest sums of money in Units of Mutual Funds, Government Securities, Bonds, Debentures, and any other Securities or instruments up to ` 1,500 Crores, at any given point of time.
11) Avail Working Capital facilities from various banks/financial institutions (Fund based and non-fund based) for the prescribed limit as approved by Board from time to time.

(b) Composition of Committee and Meetings held during the year:

As on March 31, 2024, the Banking and Authorization Committee comprised of 4 Members with 2 Executive Directors, the Chief Executive Officer and the Chief Financial Officer of the Company.

Details of Committee Meeting held during Financial Year 2023-24

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Name of the Member Category of Directorship Date of Meeting Meeting
1 2 3 Held Attended % of
attendance
August 21, December 14, March 28,
2023 2023 2024
Pramadwathi Jandhyala Whole Time Director 3 3 100
A.V. Venkatraman Whole Time Director 3 3 100
Rajan Sethuraman Chief Executive Officer 3 3 100
Rajan Bala Venkatesan Chief Financial Officer 3 3 100
% of Attendance 100 100 100
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Attended through VC/OAVM Present

The Company Secretary acts as the Secretary to the Committee.

The minutes of the meetings of the Committee were placed before and noted by the Board.

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9) GENERAL BODY MEETINGS Extra-Ordinary General Meeting

During the year under review, no Extraordinary General Meetings were convened.

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Annual General Meeting

The Annual General Meeting of the Company was held July 28, 2023, through Video Conferencing or Other Audio-Visual Means.

Information regarding the location/mode and timing of the Company’s three most recent Annual General Meetings, as well as any special resolutions that were passed during those meetings provided below:

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Date of the Meeting (Financial Year) Time of the Meeting Venue/Mode Special Resolutions Passed
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July 28, 2023	09.00 a.m.	Through Video Conferencing or Other Audio-Visual Means (Deemed	Nil
(2022-23)		Venue: Registered offce of the Company situated at 5thFloor, Neville
		Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani
		Chennai - 600113, Tamil Nadu)
July 28, 2022	09.00 a.m.	Through Video Conferencing or Other Audio-Visual Means (Deemed	Ratifcation of the Employee Stock Option Plan 2016
(2021-22)		Venue: Registered offce of the Company situated at 5thFloor, Neville	of the Company
		Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani
		Chennai - 600113, Tamil Nadu)
August 05, 2021 (2020-21)	04.00 p.m.	Registered offce of the Company situated at 5thFloor, Neville Tower,	Nil
		Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani
		Chennai - 600113, Tamil Nadu

No Special Resolution was passed by postal ballot during the Financial Year 2023-24.

At present, there are no proposals to pass any resolutions through Postal Ballot.

10) REMUNERATION TO DIRECTORS

(a) Criteria for making payments to Non-Executive Directors

As per the recommendation of the Nomination and Remuneration Committee and approval by the Board of Directors, each Independent Director is entitled to a sitting fee of 1,00,000 for every Board meeting and 50,000 for every Committee Meeting. Pursuant to the Shareholders’ approval obtained at the AGM held on July 28, 2022, commissions will be payable to Non-Executive Directors based on their performance, as recommended by the Nomination and Remuneration Committee and approved by the Board. The aggregate remuneration excluding sitting fees, paid to the Non-Executive Directors in a Financial Year does not exceed 1% of the net profits of the Company as computed according to Section 197 of the Act. The Company has not had any pecuniary transactions with the Non-Executive Directors other than the ones disclosed in this report.

No stock options were granted to the Independent Directors of the Company.

(b) Criteria for making payments to Executive Directors

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The Executive Directors are paid remuneration within the limits as approved by the Shareholders at the time of their appointment which are in line with the statutory requirements and Company’s policies. The revision in remuneration if any, is recommended by the Nomination & Remuneration Committee of the Board and approved by the Board of Directors after considering their individual performance as well as the performance of the Company in a given year which will be subject to the approval of the shareholders. Perquisites, performance linked incentives and retirement benefits are paid in accordance with the Company’s compensation policies, as applicable to all employees.

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Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(c) Details of Remuneration paid to Directors for Financial Year 2023-24

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Name Fixed Variable Variable Pay Criteria Commission Sitting Fees Total Compensation Details of Service Contracts, Notice Period & Severance fees
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A.V Venkatraman	1,20,00,000	-	Performance of the	-	-	1,20,00,000	Appointed as Whole Time Director for a period of 5 years from
			Company				August 05, 2021, to August 04, 2026, at an annual remuneration of
							`2,10,00,000. All other terms as per the employment agreement. Two
							months noticeperiod and no severance fees.
Pramadwathi Jandhyala	1,20,00,000	-	Performance of the	-	-	1,20,00,000	Appointed as Whole Time Director for a period of 5 years from
			Company				August 05, 2021 to August 04, 2026 at an annual remuneration of
							`2,10,00,000. All other terms as per employment agreement. Two
							months noticeperiod and no severance fees.
Dipali Sheth	-	-	-	14,00,000	8,00,000	22,00,000	NA
Mukesh Butani	-	-	-	14,00,000	7,50,000	21,50,000	NA
R.Raghuttama Rao	-	-	-	14,00,000	9,00,000	23,00,000	NA
Reed Cundiff	-	-	-	14,00,000	9,50,000	23,50,000	NA

The Company has not granted any stock option to its directors.

(d) Press Releases and Analysts/Investors presentations

11) MEANS OF COMMUNICATION

Pursuant to the requirements of the Act and the Listing Regulations, the official press releases, and presentations made to institutional investors and analysts are disseminated to stock exchanges as well as displayed on the Company’s website at https://www.latentview.com/investor-relations/fnancial-resultsreports/. Further, the Company hosts earnings call with the Investors/Analysts after publishing its quarterly results and the details of the earnings call are uploaded on the stock exchanges. The recording and transcripts of the earnings call with the investors/analysts are also uploaded on the Company’s website.

(a) Financial Results and Newspaper Publication

Quarterly, half-yearly and annual financial results and other shareholder notices/communications are published in Mint (English), and Makkal Kural (Tamil) pursuant to Regulation 47 of the Listing Regulations. The financial results and all material information are also regularly intimated to the Stock Exchanges as per the requirements of the Listing Regulations.

(b) Website

(e) Annual Report

The Company maintains an active website https://www.latentview.com/investor relations/ pursuant to Regulation 46 of the Listing Regulations wherein all the price-sensitive information and requisite material disclosures are displayed after its dissemination to the Stock Exchanges. By ensuring easy access to relevant information, the Company demonstrates its commitment to transparency and accountability, enabling stakeholders to make informed decisions.

Annual Report containing audited Standalone and Consolidated Financial Statements together with Board’s Report, Auditors’ Report and other reports/information are circulated to members entitled thereto and is also made available on the Company website at https://www.latentview.com/investorrelations/fnancial-results-reports/.

(f) SEBI Complaints Redress System (SCORES) and Online Dispute Resolution Portal

(c) Social Media

Securities and Exchange Board of India (“SEBI”) administers a centralised web-based complaints redress system (“SCORES”). It enables investors to lodge and follow up complaints and track the status of redressal online on the website at https://scores.sebi.gov.in/. It also enables the market intermediaries and listed companies to receive

The Company utilizes social media platforms to engage with its stakeholders and provide updates on its activities.

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Notice to the AGM

the complaints from investors against them, redress such complaints and report redressal of such complaints. All the activities starting from lodging of a complaint till its disposal are carried online in an automated environment and the status of every complaint can be viewed online at any time. The Company has registered itself on SCORES and endeavors to resolve all investor complaints received through SCORES.

During the Financial Year 2023-24 the Company has not received any complaints.

SEBI vide its master circular SEBI/HO/OIAE/OIAE_IAD-3/P/CIR/2023/195 updated as of December 20, 2023 has established Online Dispute Resolution Portal (“ODR Portal”) which harnesses online conciliation and online arbitration for resolution of disputes arising in the Indian Securities Market. The Company has registered itself on the ODR portal (https://smartodr.in/login). SEBI Circular and the link of the ODR Portal are available on the website of the Company.

During the Financial Year 2023-24 the Company has not received any complaints/disputes on the ODR portal.

12) GENERAL SHAREHOLDERS INFORMATION

(a) Annual General Meeting for the Financial Year 2024

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Date and time Mode Deemed Venue
August 27, 2024, Video Conference and Registered Office of
Tuesday 09:00 a.m. Other Audio-Visual the Company
(IST) Means
Remote
Book Closure E-Voting E-Voting at
August 23, 2024
August 20, 2024 - (09:00 a.m. IST) to the AGM
August 27, 2024 August 26, 2024 August 27, 2024
(05:00 p.m IST)
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(b) Financial Year

(d) Listing on Stock Exchanges

The Company’s equity shares are listed on following Stock Exchanges as on March 31, 2024:

Name & Address of Stock Exchanges	Scrip Code/Symbol	ISIN Number for NSDL/ CDSL (Dematerialized shares)
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 543398 INE0I7C01011 The National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051 LATENTVIEW

The Company hereby confirms it has duly paid the listing fees for the Financial Year 2024-25 to both BSE and NSE.

(e) Market Information (Market Price Data)

The monthly high and low prices (based on daily closing prices) and trading volume of shares of your Company at BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE) for the year ended March 31, 2024, are as under:

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Month NSE BSE
High Low Total High Low Total
Volume Volume
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	NSE	NSE	NSE	BSE	BSE	BSE
	High	Low	Total Volume	High	Low	Total Volume
April 2023 369.9 324.1 37,87,233 369.5 323.9 3,99,199
May2023 378.8 321.9 1,25,70,893 379.0 322.0 10,87,258
June 2023 367.0 331.5 1,24,58,823 367.0 331.3 9,06,450
July2023 401.9 350.0 2,20,94,488 401.5 347.6 17,93,242
August 2023 450.0 371.3 3,61,82,166 450.0 371.3 26,91,881
September 2023 466.5 406.0 1,96,42,186 466.5 406.1 18,81,850
October 2023 443.9 392.9 1,31,08,944 443.8 393.0 13,71,918
November 2023 503.9 398.0 3,80,22,410 503.9 398.1 24,32,997
December 2023 503.9 432.0 1,90,13,628 503.4 440.0 13,58,370
January2024 492.0 442.8 2,14,21,327 492.0 442.4 17,76,092
February2024 544.8 461.4 3,00,25,696 544.5 461.3 2,39,61,90
March 2024 527.0 430.0 1,82,63,186 528.7 430.1 11,78,730

The Financial Year of the Company was from April 01, 2023, to March 31, 2024.

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(c) Dividend Payment date

During the year, the Company has not declared any dividend.

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(f) Performance of the Company’s average monthly share price data in comparison to broad-based indices like BSE Sensex and Nifty in FY 2023-24:
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Performance of the Company’s equity shares (closing share price on last trading day of each month) on NSE in comparison to Sensex and Nifty during the Financial Year ended March 31, 2024, is as follows:

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Latent View SENSEX Latent View NIFTY
120000 800 32000 800
90000 600 24000 600
60000 400 16000 400
30000 200 8000 200
0 0 0 0
Apr 23 May 23Jun 23 Jul 23 Aug 23 Sep 23 Oct 23 Nov 23 Dec 23 Jan 24 Feb 24 Mar 24 Apr 23 May 23 Jun 23 Jul 23 Aug 23 Sep 23 Oct 23 Nov 23 Dec 23 Jan 24 Feb 24 Mar 24
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Notice to the AGM

(g) Green Initiative

The Ministry of Corporate Affairs as per its general circular 17/2011 dated 21.04.2011 has taken a ‘Green Initiative in Corporate Governance’ by allowing companies to send documents to their shareholders in electronic mode. Our Company proudly supports this eco-conscious initiative. Shareholders with dematerialized shares are encouraged to update their email addresses through their Depository Participants (DPs). This ensures seamless electronic communication, reducing paper usage and fostering a greener future. Members may please note that - notices, annual reports, etc. will be available on the Company’s website at https://www.latentview.com/investor relations/fnancial-results-reports/ and also on the website of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com/ and www.nseindia.com/ respectively.

The investors shall also access ‘SWAYAM’ - Self-Service Portal for Investors introduced by Link Intime India Private Limited. This application can be accessed at https://swayam.linkintime.co.in Email: [email protected]

(i) Share transfer system

The share transfer activities are carried out by our Registrar & Transfer Agent, the details of which are given above. In accordance with Regulation 40(1) of the Listing Regulations, effective April 01, 2019, the Company no longer processes share transfers in physical form. Since the enactment of this regulation, all share transfers must be conducted exclusively in dematerialized form through the shareholders' respective Depository Participants. Further as on March 31, 2024, all shares are held in Demat mode by the shareholders of the Company.

(h) Registrars and Transfer Agents (RTA)

The Company's RTA manages all tasks related to the Share Registry, handling both physical and electronic formats. Please refer to the provided name and contact details of our RTA:

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LatentView Analytics Annual Report 2023-2024

Link Intime India Private Limited C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400 083 Phone: 022 4918 6000 Toll free number: 1800 1020 878 Email: [email protected]

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Investment Case

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

(j) Share Holding Pattern

(j) Share Holding Pattern
Category	As on March 31, 2024 As on March 31, 2023
	Number of Shares Percentage (%) Number of Shares Percentage (%)
Promoter & Promoter Group (A)
Promoters	13,47,06,923 65.42 13,47,06,923 65.74
Public(B)
Resident Individuals	5,10,84,335 24.81 5,70,86,602 27.86
Non-Resident Indians	27,18,885 1.32 39,02,851 1.91
Mutual Funds	86,59,754 4.21 32,51,092 1.59
Foreign Portfolio Investors	49,25,216 2.39 33,82,227 1.65
Alternate Investment Funds	5,15,001 0.25 4,46,584 0.22
Others	38,08,838 1.85 21,25,227 1.04
Total of(B)	7,11,97,028 34.58 7,01,94,583 34.26
Total(A)+(B)	20,59,03,951 100 20,49,01,506 100.00

(k) Distribution of Shareholding as of March 31, 2024

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No. of Equity No. of % of No. of % of total
Shares Shareholders Shareholders Shares capital
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1-500	2,71,033	96.89	1,53,97,777	7.48
501-1000	4,894	1.75	37,86,964	1.84
1001-2000	2,156	0.77	31,41,166	1.53
2001-3000	566	0.20	14,37,496	0.70
3001-4000	271	0.10	9,67,212	0.47
4001-5000	217	0.08	10,21,780	0.50
5001-10000	314	0.11	22,89,929	1.11
10001 & above	294	0.11	17,78,61,627	86.38
Total	2,79,745	100	20,59,03,951	100

(l) Dematerialization of shares and liquidity:

As on March 31, 2024, 100% of the total issued share capital was held in electronic form with National Securities Depository Limited and Central Depository Services (India) Limited and the breakup is as follows:

Description	March 31, 2024 March 31, 2023
	No. of Shares % of Total Shares No. of Shares % of Total Shares
NSDL	18,51,14,597 89.90 18,48,07,675 90.19
CDSL	2,07,89,354 10.10 2,00,93,831 9.81
Total	20,59,03,951 100.00 20,49,01,506 100.00

Under the Depository System, the International Securities Identification Number (ISIN) allotted to the Company’s equity shares is INE0I7C01011.

(m) Suspension of Trading

During the year under review, the Company’s securities were continuously traded on stock exchanges without any suspension.

(n) Outstanding Global Depository Receipts (GDR) or American Depository Receipts (ADR) or warrants or any convertible instruments, conversion date and likely impact on equity

The Company has no outstanding GDR/ADR/warrants or any convertible instruments as on March 31, 2024.

(o) Commodity price risk or foreign exchange risk and hedging activities

The Company does not deal in commodities and hence the disclosure under Listing Regulations is not applicable. During the year 2023-24, the Company has managed the foreign exchange risk and hedged to the extent considered necessary. The Board at its meeting held on July 27, 2023 had approved a Foreign Exchange Risk Management policy to deal with forex transactions. The details of foreign currency exposure are disclosed in Note 22. B (ii) of the Standalone Financial Statements of the Company.

(p) Address for Correspondence

Shareholders are encouraged to direct all correspondence regarding their shares, dividends, requests for annual reports, and any grievances to the Company’s RTA using the provided contact details in Sl. No. h above. Additionally, shareholders can correspond directly with the Company using the contact details provided below:

P. Srinivasan

Company Secretary & Compliance Officer

Registered Office: 5[th] Floor, Neville Tower, Unit 6,7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani Chennai - 600113, Tamil Nadu. Website: www.latentview.com/ E-mail: [email protected]

Analysts can reach our Investor Relations team for any queries and clarification on financial/investor relations related matters:

Ernst & Young LLP

14[th] Floor, The Ruby, 29 Senapati Bapat Marg, Dadar (W), Mumbai, Maharashtra, 400028, India Mobile: +91 7208438278/7506685914 | Website: http://www.ey.com

(q) Credit Rating

The Company has not obtained any credit rating during the Financial Year under review.

(r) Plant locations

The Company is engaged in the business of data analytics and therefore there are no plant locations.

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Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

13) OTHER DISCLOSURES

(a) Related Party Transactions

All related party transactions that were entered into during the FY 2023-24 were in compliance with the applicable provisions of the Act and the Listing Regulations. There were no materially significant related party transactions made by the Company with Promoters, Directors, KMPs or other Designated Persons, subsidiaries or relatives during the year, which may have a potential conflict with the interest of the Company at large. The Board of Directors has approved a Related Party Transaction Policy and the same has been uploaded on the website of the Company at - - https://www.latentview.com/investor relations/corporate governance/.

(b) Details of non-compliance by the Company, penalties, and strictures imposed on the Company by Stock Exchanges or SEBI, or any statutory authority, on any matter related to capital markets, during the year:

The Company has complied with the requirements of the Stock Exchanges, SEBI and other statutory authorities on all matters relating to capital markets, to the extent applicable to the Company from the date of listing. No penalty has been, imposed by any stock exchange or SEBI nor has there been any instance of non-compliance with any legal requirements, or on matters relating to the capital market. There were no regulatory orders pertaining to the Company for the year 2023-24.

(c) Vigil Mechanism/Whistle-Blower Policy

The Company has a Whistle-Blower Policy and has established the necessary vigil mechanism for directors, employees and other stakeholders to report concerns about unethical behaviour. No person has been denied access to the Chairperson of the Audit Committee. The said policy has been uploaded on the website of the - - Company at https://www.latentview.com/investor relations/corporate governance/.

(d) Policy for Determining Material Subsidiaries

The Company has formulated a Policy for Determining Material Subsidiaries and the same is available on the - - Company’s website at https://www.latentview.com/investor relations/corporate governance/.

(e) Disclosure of Commodity price risks and commodity hedging activities

The Company does not deal in commodities and hence the disclosure under SEBI Circular dated November 15, 2018, is not applicable.

(f) Details of utilization of funds raised through preferential allotment or qualified institutions placement as specified under Regulation 32(7A)

During the Financial Year ended March 31, 2024, the Company had not raised funds through preferential allotment or qualified institutions placement.

(g) A certificate from a Company Secretary in practice that none of the directors on the board of the Company have been debarred or disqualified from being appointed or continuing as directors of companies by the board/Ministry of Corporate Affairs or any such statutory authority

The certificate issued by M/s. M. Alagar & Associates; Practicing Company Secretaries is enclosed as “Annexure - B” to this Report.

(h) Recommendation of Committees

The Board of Directors confirm that during the year, it had accepted all the recommendations received from its mandatory/non-mandatory committees. None of the recommendations made by any of the committees had been rejected by the Board.

(i) Auditors’ Remuneration

The details of total fees for all services paid by the Company and its subsidiaries, on a Standalone and Consolidated basis to the Statutory Auditor and all entities in the network firm/network entity of which the Statutory Auditor is a part are as follows:

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Services Amount (` in millions)
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StatutoryAudit Fees	6.20
Certifcation Charges	-
Other Services*	1.10
Out of Pocket Expenses	0.20
Total	7.50

*Other Services include 0.20 millions of Tax Audit fees and 0.16 millions of administrative charges.

(j) Disclosures as required under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

To foster a safe and healthy work environment, free from harassment of any kind, including sexual harassment, the Company has implemented a Policy for Prevention, Prohibition and Redressal of Sexual Harassment in the Workplace - - and the same is available on the Company’s website at https://www.latentview.com/investor relations/corporate governance/. This policy applies to all individuals associated with the Company, including regular and temporary employees, ad hoc and contractual staff, vendors, customers, trainees, probationers, apprentices, as well as all visitors to the Company premises.

Details of sexual harassment complaints received:

(i) No. of complaints received during Financial Year: Nil

(ii) No. of complaints disposed of during Financial Year: NA
(iii) No. of complaints pending as on end of the Financial Year: NA

(k) Compliances with the Corporate Governance Framework

The Company has complied with the mandatory requirements stipulated under Regulations 17 to 27 read with Schedule V and clauses (b) to (i) of sub regulation (2) of Regulation 46 of Listing Regulations.

The Company has submitted the compliance report in the prescribed format to the stock exchanges for all the quarters including the quarter ended March 31, 2024.

The Company has obtained a certificate from a Practicing Company Secretary on compliance of conditions of Corporate Governance as stipulated in Listing Regulations is enclosed as “Annexure - C” to this report.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

(l) Secretarial Compliance Certificate

Pursuant to Regulation 24A of Listing Regulations read with SEBI Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019, the Annual Secretarial Compliance Report of the Company for the FY 2023-24 has been filed - with the BSE & NSE and is uploaded on the website of the Company at https://www.latentview.com/investor - relations/corporate governance/.

(m) Transfer of Unclaimed Dividend and Shares to the Investor Education and Protection Fund (‘IEPF’)

There was no such instance applicable for the Company requiring any transfer to the IEPF as of date.

(n) Disclosure of Loans and advances in the nature of loans to firms/companies in which directors are interested

During the Financial Year ended March 31, 2024, the Company has granted loan amounting to ` 1,064.05 millions to LatentView Analytics Corporation, LatentView Analytics B.V, LatentView Analytics GmbH, Wholly Owned Subsidiaries in line with the Objects disclosed in the Prospectus (IPO) to fund the working capital requirements of the Subsidiaries.

(o) Details of the Material Subsidiary

Name of Material Subsidiaries	Date of	Place of	Details of StatutoryAuditor	Details of StatutoryAuditor
	Incorporation	Incorporation	Name	Date of appointment
LatentView Analytics Corporation October 17, 2007 New Jersey, USA			M/s. B S R & Co. LLP May 24, 2022

(p) Details of compliance with mandatory requirements and adoption of the nonmandatory requirements

The Company has complied with all the applicable mandatory requirements of Listing Regulations. Details of adoption of non-mandatory requirements are provided in clause (q) below.

(q) Discretionary Requirements

(b) Reporting of Internal Auditor

The Internal Auditors of the Company report directly to the Audit Committee and are invited to be present as invitees at the Audit Committee meetings held every quarter.

14) PARTICULARS OF SENIOR MANAGEMENT

Details of latest Senior Management Personnel as defined under Regulation 16(1)(d) of SEBI (LODR) Regulations are as follows:

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Sr. No. Name Designation
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1.	Rajan Sethuraman	CEO
2.	Krishnan Venkata	Chief Client Offcer
3.	Rajan Bala Venkatesan	CFO
4.	Prashant Ramanujan	Chief Growth Offcer
5.	SanjayAnnadate	Business Head – Europe & UK
6.	Srinivasan P	CompanySecretary

No change in senior management during the period under review.

Tarunya Suresh (Head - Marketing & Demand Generation) resigned from the Company w.e.f April 09, 2024. NRC and the Board approved the revised list of Senior Management at its meeting held on May 07, 2024.

15) DISCLOSURES WITH RESPECT TO DEMAT SUSPENSE ACCOUNT/ UNCLAIMED SUSPENSE ACCOUNT

There are no shares in the demat suspense account/unclaimed suspense account.

16) DISCLOSURE OF CERTAIN TYPES OF AGREEMENTS BINDING THE COMPANY

There have been no agreements executed pursuant to Paragraph 5A of Part A of Schedule III of the Listing regulations.

The Company has adopted the following discretionary requirements as provided in Part E of Schedule II of the Listing Regulations.

(a) Modified opinion(s) in Audit Report

The Company is in the regime of unmodified opinions on Financial Statements and the Auditors of the Company have issued Audit Reports with unmodified opinion on the Standalone and Consolidated Financial Statements for the Financial Year ended March 31, 2024.

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Annexure-A to Corporate Governance Report

CEO/CFO Certification

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes

Performance Review

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Notice to the AGM

(Pursuant to Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)

We Rajan Sethuraman, Chief Executive Officer and Rajan Bala Venkatesan, Chief Financial Officer of Latent View Analytics Limited to the best of our knowledge and belief, hereby certify that:

A. We have reviewed Financial Statements and the cash flow statement for the year ended March 31, 2024 and that to the best of our knowledge and belief:
i. These statements do not contain any materially untrue statement or omit any material fact or contain statements that might be misleading;
ii. These statements together present a true and fair view of the Company’s affairs and are in compliance with existing accounting standards, applicable laws and regulations.
B. There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year ended March 31, 2024 which are fraudulent, illegal or violative of the Company’s code of conduct.
C. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting and we have disclosed to the auditors and the audit committee, deficiencies in the design or operation of

such internal controls, if any, of which we are aware and the steps we have taken or propose to take to rectify these deficiencies.

D. We have indicated to the auditors and the Audit committee that:
i. No Significant changes in internal control over financial reporting during the year ended March 31, 2024;
ii. No Significant changes in accounting policies during the year ended March 31, 2024 and that the same have been disclosed in the notes to the Financial Statements; and
iii. There are no instances of significant fraud of which we have become aware and the involvement therein, if any, of the management or an employee having a significant role in the Company’s internal control system over financial reporting.

We further declare that all the Board Members and Senior Management Personnel have affirmed compliance with Code of Conduct in respect of the Financial Year ended March 31, 2024.

For and on behalf of Latent View Analytics Limited

Rajan Sethuraman Rajan Bala Venkatesan Chief Executive Officer Chief Financial Officer

Place: Chennai Date: May 07, 2024

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Notice to the AGM

(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)

Ensuring the eligibility of the appointment/continuity of every Director on the Board is the responsibility of the management of the Company. Our responsibility is to express an opinion on these based on our verification. This certificate is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the Company.

To, The Members of

Latent View Analytics Limited 5[th] Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai - 600113.

We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Latent View Analytics Limited having CIN: L72300TN2006PLC058481 and having registered office at 5[th] Floor, Neville Tower, Unit 6,7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai - 600113 (hereinafter referred to as ‘the Company’), produced before us by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For and on behalf of Latent View Analytics Limited

For M. Alagar & Associates Practising Company Secretaries Peer Review Certificate No:1707/2022

In our opinion and to the best of the information received and according to the verifications (including Directors Identification Number (DIN) status at the portal www.mca.gov.in) as considered necessary and explanations furnished to us by the Company & its officers, We hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on March 31, 2024 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs or any such other Statutory Authority.

M. Alagar

Managing Partner FCS No: 7488/CoP No.: 8196 UDIN: F007488F000327931

Place: Chennai Date: May 07, 2024

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Sr. No. DIN/PAN Name Date of Appointment
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1.	00732854	Pramadwathi Jandhyala	03/01/2006
2.	01240055	Adugudi Viswanathan Venkatraman	03/01/2007
3.	01452839	Mukesh Hari Butani	23/07/2021
4.	07556685	Dipali Hemant Sheth	15/06/2021
5.	09241056	Reed Allen Cundiff	23/07/2021
6.	00146230	Raghavendra Raghuttama Rao	23/07/2021

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Compliance Certificate on Corporate Governance

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(Pursuant to Regulation 34(3) and Schedule V Para E of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015)

The Members

LATENT VIEW ANALYTICS LIMITED 5[th] Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai – 600113.

We have examined the compliance of conditions of Corporate Governance by Latent View Analytics Limited (“the Company”) for the period ended March 31, 2024 as stipulated under Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred as “Listing Regulations”).

The compliance of conditions of Corporate Governance is the responsibility of the Management. Our examination was limited to procedures and implementation thereof, adopted by the Company for ensuring compliance with the conditions of Corporate Governance. It is neither an audit nor an expression of opinion on the Financial Statements of the Company.

In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in Listing Regulations.

We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness with which the Management has conducted the affairs of the Company.

For and on behalf of Latent View Analytics Limited

For M. Alagar & Associates Practising Company Secretaries Peer Review Certificate No:1707/2022

M. Alagar

Managing Partner FCS No: 7488/CoP No.: 8196 UDIN: F007488F000327931

Place: Chennai Date: May 07, 2024

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Independent Auditor’s Report

To the Members of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) Report on the Audit of the Consolidated Financial Statements

OPINION

REVENUE RECOGNITION

See Note 17 to Consolidated Financial Statements

We have audited the Consolidated Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) (hereinafter referred to as the “Holding Company”) and its subsidiaries (Holding Company and its subsidiaries together referred to as “the Group”), which comprise the Consolidated balance sheet as at 31 March 2024, and the Consolidated statement of profit and loss (including other comprehensive income), Consolidated statement of changes in equity and Consolidated statement of cash flows for the year then ended, and notes to the Consolidated Financial Statements, including material accounting policies and other explanatory information (hereinafter referred to as “the Consolidated Financial Statements”).

The key audit matter How the matter was addressed in our audit Revenue recognition In view of the significance of the matter we applied the The Company is primarily engaged in the business of following audit procedures in this area, among others rendering analytical services from time-and-material to obtain sufficient appropriate audit evidence: and fixed price contracts. 1 Assessed the appropriateness of the Company’s revenue recognition accounting policies with Fixed price revenue contracts with customers have reference to the relevant accounting standards. defined delivery milestones with agreed scope of work. Pricing for each milestone depends on the nature 2 Obtained an understanding of the Company’s of service/industry served and the efforts involved over Revenue recognition process including design the term of the contract. Revenue from time and material and implementation of controls. Tested the contracts is recognised as the service is performed. operating effectiveness, for selected specific and Revenue from both these contracts is recognized over statistical sample transactions, of key controls a period of time in accordance with the requirements of over revenue recognized in the time and material Ind-AS 115, “Revenue from Contracts with Customers”.

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of reports of the other auditors on separate Financial Statements of such subsidiaries as were audited by the other auditors, the aforesaid Consolidated Financial Statements give the information required by the Companies Act, 2013 (“Act”) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the Consolidated state of affairs of the Group as at 31 March 2024, of its Consolidated profit and other comprehensive income, Consolidated changes in equity and Consolidated cash flows for the year then ended.

Obtained an understanding of the Company’s Revenue recognition process including design and implementation of controls. Tested the operating effectiveness, for selected specific and statistical sample transactions, of key controls over revenue recognized in the time and material and fixed price contracts.

BASIS FOR OPINION

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the Consolidated Financial Statements in terms of the Code of Ethics issued by the Institute of Chartered Accountants of India and the relevant provisions of the Act, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence obtained by us along with the consideration of reports of the other auditors referred to in paragraph (a) of the “Other Matters” section below, is sufficient and appropriate to provide a basis for our opinion on the Consolidated Financial Statements.

We identified revenue recognition from contracts with 3 Performed test of details on selected statistical external customers as a Key Audit Matter since: samples revenue transactions recorded during • there is an inherent risk and presumed fraud risk the year. Verified the underlying documents around the existence of revenues recognised such as Invoices, Statement of works/Purchase considering the nature of these contracts; Order, Master service agreements and customer acknowledgements (time sheets approvals), where applicable.

at year-end, amount of excess revenue earned over billings (Contract assets/unbilled revenue), related to these contracts are recognised on the balance sheet. There is a risk that revenue could be recognized at a time which is different from the period in which the service is performed especially for transactions occurring near to the reporting date.
4 Inspected sample of contracts, selected using specific sampling, with respect to unbilled revenues recognised as at period end to assess revenue is recognized upon completion of performance obligations as per the agreed terms of contract.

KEY AUDIT MATTER(S)

Key audit matters are those matters that, in our professional judgment and based on the consideration of reports of other auditors on separate Financial Statements of components audited by them, were of most significance in our audit of the Consolidated Financial Statements of the current period. These matters were addressed in the context of our audit of the Consolidated Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

REVENUE RECOGNITION (Contd.)

See Note 17 to Consolidated Financial Statements

The key audit matter

How the matter was addressed in our audit

5 Inspected the credit notes/ reversals of revenue, if any in the subsequent period to assess revenue is appropriately recognised in the period in which related service is rendered.
6 Tested manual journal entries posted to revenue based on specified risk-based criteria to identify unusual items.
7 Assessed the adequacy of disclosures made in the Financial Statements with respect to revenue recognized during the year as required by applicable Indian Accounting Standards.

OTHER INFORMATION

The Holding Company’s Management and Board of Directors are responsible for the other information. The other information comprises the information included in the annual report, but does not include the Financial Statements and auditor’s report thereon. The annual report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the Consolidated Financial Statements does not cover the other information and we will not express any form of assurance conclusion thereon.

In connection with our audit of the Consolidated Financial Statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the Consolidated Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

When we read the annual report, if we conclude that there is a material misstatement therein, we are required to communicate the matter to those charged with governance and take necessary actions, as applicable under the relevant laws and regulations.

MANAGEMENT’S AND BOARD OF DIRECTORS’ RESPONSIBILITIES FOR THE CONSOLIDATED FINANCIAL STATEMENTS

The Holding Company’s Management and Board of Directors are responsible for the preparation and presentation of these Consolidated Financial Statements in term of the requirements of the Act that give a true and fair view of the Consolidated state of affairs, Consolidated profit/loss and other comprehensive income, Consolidated statement of changes in equity and Consolidated cash flows of the Group in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act. The respective Management and Board of Directors of the companies included in the Group are responsible

for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of each company and for preventing and detecting frauds and other irregularities; the selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Consolidated Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the Consolidated Financial Statements by the Management and Board of Directors of the Holding Company, as aforesaid.

In preparing the Consolidated Financial Statements, the respective Management and Board of Directors of the companies included in the Group are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of each company.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE CONSOLIDATED FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Consolidated Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Consolidated Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to Financial Statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting in preparation of Consolidated Financial Statements and, based on the audit evidence

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Consolidated Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Group to cease to continue as a going concern.

Evaluate the overall presentation, structure and content of the Consolidated Financial Statements, including the disclosures, and whether the Consolidated Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the Financial Statements of such entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the audit of the Financial Statements of such entities included in the Consolidated Financial Statements of which we are the independent auditors. For the other entities included in the Consolidated Financial Statements, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in paragraph (a) of the section titled “Other Matters” in this audit report.

We communicate with those charged with governance of the Holding Company and such other entities included in the Consolidated Financial Statements of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Consolidated Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

OTHER MATTER

a. We did not audit the Financial Statements of three subsidiaries and one step down subsidiary, whose Financial Statements reflect total assets (before consolidation adjustments) of Rs.1467.93 Million as at March 31, 2024, total revenues (before consolidation adjustments) of Rs.207.03 Million and net cash flows (before consolidation adjustments) amounting to Rs.520.80 Million for the year ended on that date, as considered in the Consolidated Financial Statements. These Financial Statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the Consolidated Financial Statements, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, and our report in terms of sub-section (3) of Section 143 of the Act, in so far as it relates to the aforesaid subsidiaries is based solely on the reports of the other auditors.

Certain of these subsidiaries are located outside India whose Financial Statements and other financial information have been prepared in accordance with accounting principles generally accepted in their respective countries and which have been audited by other auditors under generally accepted auditing standards applicable in their respective countries. The Holding Company’s management has converted the Financial Statements of such subsidiaries located outside India from accounting principles generally accepted in their respective countries to accounting principles generally accepted in India. We have audited these conversion adjustments made by the Holding Company’s management. Our opinion in so far as it relates to the balances and affairs of such subsidiaries located outside India is based on the reports of other auditors and the conversion adjustments prepared by the management of the Holding Company and audited by us.

Our opinion on the Consolidated Financial Statements, and our report on Other Legal and Regulatory Requirements below, is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in the “Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
A. As required by Section 143(3) of the Act, based on our audit and on the consideration of reports of the other auditors on separate Financial Statements of such subsidiaries, as were audited by other auditors, as noted in the “Other Matters” paragraph, we report, to the extent applicable, that:
a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit of the aforesaid Consolidated Financial Statements.
b. In our opinion, proper books of account as required by law relating to preparation of the aforesaid Consolidated Financial Statements have been kept so far as it appears from our examination of those books and the reports of the other auditors, except that the back-up of the books of account and other relevant books and papers in electronic mode of the holding company has not been kept on servers physically located in India on a daily basis and the matters stated in the paragraph 2(B)(f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
c. The Consolidated balance sheet, the Consolidated statement of profit and loss (including other comprehensive income), the Consolidated statement of changes in equity and the Consolidated statement of cash flows dealt with by this Report are in agreement with the relevant books of account maintained for the purpose of preparation of the Consolidated Financial Statements.
d. In our opinion, the aforesaid Consolidated Financial Statements comply with the Ind AS specified under Section 133 of the Act.
e. On the basis of the written representations received from the directors of Holding Company 31 March 2024 taken on record by the Board of Directors of the Holding Company , none of the directors is disqualified as on 31 March 2024 from being appointed as a director in terms of Section 164(2) of the Act.

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM
f. the reservation relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph 2(A)(b) above on reporting under Section 143(3)(b) and paragraph 2B(f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
g. With respect to the adequacy of the internal financial controls with reference to Financial Statements of the Holding Company incorporated in India and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.
B. With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us and based on the consideration of the reports of the other auditors on separate Financial Statements of the subsidiaries, as noted in the “Other Matters” paragraph:
a. The Consolidated Financial Statements disclose the impact of pending litigations as at 31 March 2024 on the Consolidated financial position of the Group. Refer Note 31 to the Consolidated Financial Statements.
b. The Group did not have any material foreseeable losses on long-term contracts including derivative contracts during the year ended 31 March 2024.
c. There are no amounts which are required to be transferred to the Investor Education and Protection Fund by the Holding Company incorporated in India during the year ended 31 March 2024.
d. (i) The respective management of the Holding Company represented to us that, to the best of their knowledge and belief, as disclosed in the Note 30 to the Consolidated Financial Statements, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Holding Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Holding Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
e. The Holding Company has neither declared nor paid any dividend during the year.
f. Based on our examination which included test checks, the Holding Company has used accounting softwares for maintaining its books of account. In the absence of reporting on compliance with the audit trail requirements in the respective independent auditor’s report in relation to controls at service organisations for such accounting softwares, we are unable to comment whether audit trail feature of the said softwares was enabled and operated throughout the year for all relevant transactions recorded in the softwares or whether there were any instances of the audit trail feature being tampered with.
C. With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act:
In our opinion and according to the information and explanations given to us, the remuneration paid and payable during the current year by the Holding Company, to its directors is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director by the Holding Company, is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants Satish Vaidyanathan Partner Place: Chennai Membership No.: 217042 Date: May 07, 2024 ICAI UDIN: 24217042BKGSNU7778

(ii) The respective management of the Holding Company represented to us that, to the best of their knowledge and belief, as disclosed in the Note 30 to the Consolidated Financial Statements, no funds have been received by the Holding Company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Holding Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Parties (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.

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LatentView Analytics Annual Report 2023-2024

(iii) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (i) and (ii) above, contain any material misstatement.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

Annexure A to the Independent Auditor’s Report on the Consolidated Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) for the year ended 31 March 2024

(Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

(xxi) According to the information and explanations given to us and based on our examination, there are no companies included in the Consolidated Financial Statements of the Holding Company which are companies incorporated in India except the Holding Company. The Companies (Auditor’s Report) Order, 2020 of the Holding Company did not include any unfavourable answers or qualifications or adverse remarks.

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Partner

Membership No.: 217042 ICAI UDIN: 24217042BKGSNU7778

Place: Chennai Date: May 07, 2024

Annexure B to the Independent Auditor’s Report on the Consolidated Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) for the year ended 31 March 2024

Report on the internal financial controls with reference to the aforesaid Consolidated Financial Statements under Clause (i) of Sub-section 3 of Section 143 of the Act

(Referred to in paragraph 2(A)(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

OPINION

In conjunction with our audit of the Consolidated Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) (hereinafter referred to as “the Holding Company”) as of and for the year ended 31 March 2024, we have audited the internal financial controls with reference to Financial Statements of the Holding Company , as of that date.

In our opinion, the Holding Company, has, in all material respects, adequate internal financial controls with reference to Financial Statements and such internal financial controls were operating effectively as at 31 March 2024, based on the internal financial controls with reference to Financial Statements criteria established by the Holding Company considering the essential components of such internal controls stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (the “Guidance Note”).

MANAGEMENT’S AND BOARD OF DIRECTORS’ RESPONSIBILITIES FOR INTERNAL FINANCIAL CONTROLS

The Holding Company’s Management and the Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal financial controls with reference to Financial Statements criteria established by the Holding Company considering the essential components of internal control stated in the Guidance Note. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Holding Company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AUDITOR’S RESPONSIBILITY

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Our responsibility is to express an opinion on the internal financial controls with reference to Financial Statements based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference to Financial Statements. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to Financial Statements were established and maintained and if such controls operated effectively in all material respects.

LatentView Analytics Annual Report 2023-2024

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Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls with reference to Financial Statements and their operating effectiveness. Our audit of internal financial controls with reference to Financial Statements included obtaining an understanding of internal financial controls with reference to Financial Statements, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the Consolidated Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the internal financial controls with reference to Financial Statements.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

controls with reference to Financial Statements include those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could have a material effect on the Financial Statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

Because of the inherent limitations of internal financial controls with reference to Financial Statements, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls with reference to Financial Statements to future periods are subject to the risk that the internal financial controls with reference to Financial Statements may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

Place: Chennai Date: May 07, 2024

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Partner Membership No.: 217042 ICAI UDIN: 24217042BKGSNU7778

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

136

Consolidated Balance Sheet

As at March 31, 2024

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Note reference As at March 31, 2024 As at March 31, 2023 ASSETS Non-current assets Property, plant and equipment 4 90.50 70.11 Right-of-use assets 5 184.53 161.69 Intangible assets 6 - 0.11 Financial assets: Investments 8.1 3,289.83 2,455.87 Other fnancial assets 8.5 178.93 229.75 Deferred tax assets(net) 7.4 108.05 190.79 Other tax assets(net) 7.6 60.84 45.34 Other non-current assets 9 20.17 52.99 Total non-current assets 3,932.85 3,206.65 Current assets Financial assets: Investments 8.1 3,467.76 2,551.38 Trade receivables 8.2 1,131.37 985.16 Cash and cash equivalents 8.3 1,648.64 533.81 Bank balances other than cash and cash equivalents 8.4 2,509.34 4,879.47 Other fnancial assets 8.5 1,651.91 314.37 Contract assets 17.3 138.50 58.86 Other current assets 9 78.38 100.85 Total current assets 10,625.90 9,423.90 TOTAL ASSETS 14,558.75 12,630.55 EQUITY AND LIABILITIES Equity Equityshare capital 10 205.90 204.90 Other equity 10.2 13,538.18 11,869.59 Total equity 13,744.08 12,074.49 LIABILITIES Non-current liabilities Financial liabilities: Borrowings 11.2 2.40 3.29 Lease liabilities 11.3 188.04 149.77 Provisions 12 93.92 63.43 Total non-current liabilities 284.36 216.49	Note reference As at March 31, 2024 As at March 31, 2023
	Current liabilities
	Financial liabilities:
	Lease liabilities 11.3 49.48 61.55
	Tradepayables
	Total oustanding dues to micro enterprises and small enterprises 11.1 - 0.98
	Total oustanding dues to other than micro enterprises and small enterprises 11.1 99.52 37.11
	Other fnancial liabilities 11.4 26.56 -
	Contract Liabilities 17.4 166.06 134.63
	Other current liabilities 13 125.41 64.07
	Provisions 12 33.97 23.75
	Current tax liabilities(net) 7.7 29.31 17.48
	Total current liabilities 530.31 339.57
	Total liabilities 814.67 556.06
	TOTAL EQUITY AND LIABILITIES 14,558.75 12,630.55
	Material accounting policies 3
	The notes referred to above form an integral part of the Consolidated Financial Statements. As per our report of even date attached. ForB S R & Co. LLP Firm’s registration number: 101248W/W-100022 Chartered Accountants For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481 Satish Vaidyanathan Partner Membership No.: 217042 Pramadwathi Jandhyala Whole-Time Director DIN No: 00732854 Chennai A.V. Venkatraman Chairperson DIN No: 01240055 Chennai Rajan Sethuraman Chief Executive Offcer Chennai Rajan Bala Venkatesan Chief Financial Offcer Srinivasan. P Company Secretary Place:Chennai Date:May 07, 2024 Place:Chennai Date:May 07, 2024

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

137

Consolidated Statement of Profit and Loss

For the year ended March 31, 2024

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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For the year ended March 31, 2024
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Income
Revenue from operations	17	6,406.83	5,387.62
Other income	18	737.02	557.66
Total income		7,143.85	5,945.28
Expenses
Employee benefts expense Finance costs	19 20	4,338.92 30.47	3,361.36 26.39
Depreciation and amortisation expense	21	96.61	88.15
Other expenses	22	707.60	575.74
Total expenses		5,173.60	4,051.64
Proft before tax		1,970.25	1,893.64
Tax expense	7.1
Current tax Deferred tax charge/(beneft)		429.11 (45.30)	333.41 5.92
Total tax expense		383.81	339.33
Proft for theyear Other comprehensive income Items that will not be reclassifed to proft		1,586.44	1,554.31
or loss:
Remeasurement of defned beneftplan	12.1.6	(7.74)	(1.00)
Income tax thereon		2.25	0.29
Items that will be reclassifed subsequentlytoproft or loss		(5.49)	(0.71)
Exchange differences in translating Financial		32.98	147.83
Statements of foreign operations
		32.98	147.83
Other comprehensive income for the		27.49	147.12
year, net of income tax

d Loss
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Total comprehensive income for theyear		1,613.93	1,701.43
Earningsper equityshare	25
Basic Earningsper share -`		7.73	7.71
Diluted Earningsper share -`		7.68	7.63
Material accounting policies	3

The notes referred to above form an integral part of the Consolidated Financial Statements.

As per our report of even date attached.

For B S R & Co. LLP For and on behalf of the Board of Directors of Firm’s registration number: 101248W/W-100022 Latent View Analytics Limited Chartered Accountants CIN No: L72300TN2006PLC058481 Satish Vaidyanathan Pramadwathi Jandhyala A.V. Venkatraman Rajan Sethuraman Partner Whole-Time Director Chairperson Chief Executive Membership No.: 217042 DIN No: 00732854 DIN No: 01240055 Officer Chennai Chennai Chennai Rajan Bala Venkatesan Srinivasan. P Chief Financial Officer Company Secretary Place: Chennai Place: Chennai Date: May 07, 2024 Date: May 07, 2024

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

138

Consolidated Statement of Cash Flows

For the year ended March 31, 2024

Strategic Review Company Overview

Founders’ Address

Letter to Shareholders Management Quotes Performance Review

Success Stories

Investment Case

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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For the year ended March 31, 2024
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Cash fows from operatingactivities
Proft before tax		1,970.25	1,893.64
Adjustments for:
Depreciation and amortisation	21	96.61	88.15
Amortisation ofpremiumpaid on bonds	20	8.74	6.63
Share based compensation expense	19	32.64	39.60
Financial assets measured at FVTPL- net	18	(73.24)	(18.21)
change in fair value
Interest income on deposits with banks and	18	(603.70)	(425.14)
fnancial institutions
Gain on sale of investments	18	(8.48)	(15.10)
Gain on sale ofproperty,plant and equipment	18	(3.02)	-
Interest income on securitydeposit	18	(0.82)	(1.64)
Finance costs	20	21.73	19.76
Unrealised gain on foreign exchange		(30.74)	(18.57)
differences
Operating proft before working capital		1,409.97	1,569.12
changes/other changes
Adjustments for changes in working
capital:
(Increase) in trade receivable		(142.27)	(113.44)
(Increase) in current and non-current assets		(84.91)	(53.03)
Decrease/(Increase) in other fnancial assets Increase inprovision		50.71 32.45	(21.88) 19.60
Increase/(Decrease) in trade payables and other fnancial liabilities Cashgenerated from operations		189.60 1,455.55	(159.10) 1,241.27
Less:Income taxespaid (net)		(301.83)	(266.83)
Net cash generated from operating		1,153.72	974.44
activities - (A)

ws
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Cash fows from investingactivities
Purchase ofproperty,plant and equipment		(46.17)	(32.20)
Sale ofproperty,plant and equipment		3.02	-
Proceeds from sale of investment		3,876.40	695.07
Purchase of investments		(5,483.82)	(3,654.77)
Investment in deposits with banks and fnancial		-	(186.79)
instituitions (net)
Interest income on deposits with banks and		531.55	329.87
fnancial institutions
Redemption of deposits with banks and		1,081.56	-
fnancial institutions (net)
Net cash (used in) investingactivities - (B)		(37.46)	(2,848.82)
Cash fows from fnancingactivities
Payment of lease liability- Principalportion		(43.97)	(44.09)
Payment of lease liability- Interestportion		(21.96)	(19.81)
Proceeds from exercise of share options		54.89	69.57
Share Issue Expenses		-	(46.30)
Net cash (used in) fnancing		(11.04)	(40.63)
activities - (C)
Net increase/(decrease) in cash and		1,105.22	(1,915.01)
cash equivalents (A)+(B)+(C)
Cash and cash equivalents as at the beginning		533.81	2,367.60
of theyear
Effect of exchange rate fuctuations on cash		9.61	81.22
held
Cash and cash equivalents as at the end		1,648.64	533.81
of theyear

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Consolidated Statement of Cash Flows (Contd.)

For the year ended March 31, 2024

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3. Financial Statements

For the year ended March 31, 2024
	Note	As at	As at
	reference	March 31, 2024	March 31, 2023
Cash and cash equivalents as at the end of theyear	8.3
Cash on hand		0.02	0.01
Bank balances		1,238.10	513.49
Deposits (with original maturityof 3 months or less)		410.52	20.31
Cash and cash equivalents as at the end of theyear		1,648.64	533.81
Material accounting policies	3

Notes:

The above Cash flow from operating activities has been prepared under the “Indirect Method” as set out in the Indian Accounting Standard (“IND AS 7”) - “Cash flow statements”.
Cash comprises cash on hand, current accounts. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition).

The notes referred to above form an integral part of the Consolidated Financial Statements.

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

ForB S R & Co. LLP		For	and on behalf of the Board of Directors of
Firm’s registration number: 101248W/W-100022			Latent View Analytics Limited
Chartered Accountants			CIN No: L72300TN2006PLC058481
Satish Vaidyanathan	Pramadwathi Jandhyala	A.V. Venkatraman	Rajan Sethuraman
Partner	Whole-Time Director	Chairperson	Chief Executive Offcer
Membership No.: 217042	DIN No: 00732854	DIN No: 01240055	Chennai
	Chennai	Chennai
	Rajan Bala Venkatesan	Srinivasan. P
	Chief Financial Offcer	Company Secretary
Place:Chennai	Place:Chennai
Date:May 07, 2024	Date:May 07, 2024

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

140

Consolidated Statement of Changes in Equity

A. EQUITY SHARE CAPITAL

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

A. EQUITY SHARE CAPITAL
	Note	Amount
Balance as at April 1, 2023	10	204.90
Share options exercised		1.00
Balance as at March 31, 2024		205.90
Balance as at April 1, 2022	10	200.42
Share options exercised		4.48
Balance as at March 31, 2023		204.90

B. OTHER EQUITY

B. OTHER EQUITY
Note	Other equity Items of OCI Other equity-Total Reserves and surplus Exchange differences on translation of Financial Statements of foreign operations Securities premium Employee share option reserve General reserve Retained earnings Special Economic Zone reinvestment reserve
2023-24
Balance at April 1, 2023	4,608.18 49.90 11.32 6,922.87 - 277.32 11,869.59
Proft for theyear	- - - 1,586.44 - - 1,586.44
Other comprehensive income (net of tax)	- - - (5.49) - 32.98 27.49
Total Comprehensive Income	- - - 1,580.95 - 32.98 1,613.93
Transactions with owners, recorded directly in equity	- - - - - - -
Share basedpayments expense 19	- 32.64 - - - - 32.64
Share options exercised 16	53.89 - - - - - 53.89
Transfer to SEZ re-investment reserve 10.2.7	- - - (50.00) 50.00 - -
Premium on share option exercised duringtheyear	16.97 (16.97) - - - - -
Sharepremium adjusted towards IPO 9	(31.87) - - - - - (31.87)
Balance as at March 31, 2024	4,647.17 65.57 11.32 8,453.82 50.00 310.30 13,538.18

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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(Contd.) Consolidated Statement of Changes in Equity

B. OTHER EQUITY

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

B. OTHER EQUITY
Note	Other equity Items of OCI Other equity - Total Reserves and surplus Exchange differences on translation of Financial Statements of foreign operations Securities premium Employee share option reserve General reserve Retained earnings Special Economic Zone reinvestment reserve
2022-23
Balance as of April 1, 2022	4,523.01 30.30 11.32 5,369.27 - 129.49 10,063.39
Proft for theyear	- - - 1,554.31 - - 1,554.31
Other comprehensive income (net of tax)	- - - (0.71) - 147.83 147.12
Total Comprehensive Income	- - - 1,553.60 - 147.83 1,701.43
Transactions with owners, recorded directly in equity	- - - - - - -
Share basedpayments expense 19	- 39.68 - - - - 39.68
Share options exercised 16	65.09 - - - - - 65.09
Premium on share option exercised duringtheyear	20.08 (20.08) - - - - -
Balance as at March 31, 2023	4,608.18 49.90 11.32 6,922.87 - 277.32 11,869.59

Notice to the AGM

The notes referred to above form an integral part of the Consolidated Financial Statements.

As per our report of even date attached.

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LatentView Analytics Annual Report 2023-2024

For B S R & Co. LLP

Firm’s registration number: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan

Partner Membership No.: 217042

Place: Chennai Date: May 07, 2024

For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481

Rajan Sethuraman Chief Executive Officer Chennai

Pramadwathi Jandhyala A.V. Venkatraman Whole-Time Director Chairperson DIN No: 00732854 DIN No: 01240055 Chennai Chennai

Rajan Bala Venkatesan Chief Financial Officer

Srinivasan. P Company Secretary

Place: Chennai Date: May 07, 2024

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Notes forming part of the Consolidated Financial Statements

As of and for the year ended March 31, 2024

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

1. GROUP OVERVIEW

Latent View Analytics Limited (formerly known as Latent View Analytics Private Limited) (”the Company”) (”Holding Company”) is an India based data analytics group incorporated on January 3, 2006, whose head office and corporate office is in Chennai. The Company and its subsidiaries’ primary objective is to enable clients to develop and deploy result-oriented analytics solutions that shall enable them to make smarter decisions using their data on an on-going basis. These solutions enable clients improve their marketing performance, efficiently trade-off risks against the available opportunities, maximize customer value and increase employee effectiveness. The Consolidated Financial Statements comprises the Financial Statements of the Company and its subsidiaries (together referred to as “the Group”).

The Holding Company has converted itself from Private Limited to Public Limited, pursuant to a special resolution passed in the extraordinary general meeting of the shareholders of the Company held on June 18, 2021 and consequently the name of the Company has changed to “Latent View Analytics Limited” pursuant to a fresh certificate of incorporation by the Registrar of Companies on July 16, 2021.

The following entities are considered in these Consolidated financial information:

Entity	Country of	Nature of interest	% of holding as at	% of holding as at	Functional
	incorporation		March 31, 2024	March 31, 2023	Currency
Latent View Analytics Limited (formerly known as Latent View Analytics	India	Holding Company	Not Applicable	Not Applicable	Indian Rupees
Private Limited)
LatentView Analytics Corporation	USA	Subsidiary of Latent View Analytics Limited (formerly	100%	100%	US Dollars
		known as Latent View Analytics Private Limited)
LatentView Analytics UK Ltd.	UK	Subsidiary of Latent View Analytics Limited (formerly	100%	100%	Great British Pound
		known as Latent View Analytics Private Limited)
LatentView Analytics BV	Netherlands	Subsidiary of Latent View Analytics Limited (formerly	100%	100%	Euro
		known as Latent View Analytics Private Limited)
LatentView Analytics GmbH, Germany*	Germany	Subsidiaryof LatentView Analytics BV	100%	100%	Euro
LatentView Analytics Pte. Ltd	Singapore	Subsidiary of Latent View Analytics Limited (formerly	100%	100%	Singapore Dollars
		known as Latent View Analytics Private Limited)

*LatentView Analytics GmbH, Germany is a wholly owned subsidiary of LatentView Analytics BV, Netherlands and was incorporated on April 19, 2018.

2. BASIS OF PREPARATION

This note provides a list of the material accounting policies adopted in the preparation of these Consolidated Financial Statements. The Group has consistently applied the following accounting policies to all periods presented in the Consolidated Financial Statements. The Financial Statements have been prepared and presented on the going concern basis.

A. Statement of compliance

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LatentView Analytics Annual Report 2023-2024

These Consolidated Financial Statements have been prepared in accordance with the Indian Accounting Standards (referred to as “Ind AS”) prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules as amended from time to time.

B. Functional and presentation currency

Items included in the financial information of the Group are measured using the currency of the primary economic environment in which the entity of the Group operates (‘the functional currency’). The financial information are presented in Indian Rupee (`), which is Holding Company’s functional currency.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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All amounts disclosed in the financial information and notes have been rounded off to the nearest Rupees in millions, unless otherwise stated.

C. Basis of measurement

The Consolidated financial information have been prepared on the historical cost basis except for the following items:

following items:
Items	Measurement basis
Certain fnancial assets and liabilities (including	Fair value
derivative instruments)
Net defned beneft (asset)/liability	Fair value of plan assets less present value of defned
	beneft obligations

D. Use of estimates and judgments

In preparing the restated Consolidated financial information, management has made judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised prospectively.

Judgements

Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognised in the restated Consolidated financial information is included in the following notes:

a) Note 3(K) and 7 – provision for income taxes, uncertain tax treatments;
b) Note 3(I) – leases: whether an arrangement contains a lease;
c) Note 3(I) – lease term: whether the Group is reasonably certain to exercise extension options.

Assumptions and estimation uncertainties

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment in the carrying amount of assets and liabilities within the next Financial Year is included in the following notes:

a) Note 12 - measurement of defined benefit assets and obligations: key actuarial assumptions;
b) Note 7 - recognition of deferred tax assets: availability of future taxable profit against which deferred tax assets will be recovered in future periods;
c) Note 16 - determination of fair value of employee stock option;
d) Note 11.5 - impairment of financial assets; and
e) Note 11.3 - incremental borrowing rates used to discount lease liabilities.

E. Measurement of fair values

A number of the Group’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities.

The Group has an established control framework with respect to the measurement of fair values. The Chief Financial Officer has overall responsibility for overseeing all significant fair value measurements.

The Chief Financial Officer regularly reviews significant unobservable inputs and valuation adjustments. If third party information, such as broker quotes or pricing services, is used to measure fair values, then the Chief Financial Officer assesses the evidence obtained from the third parties to support the conclusion that these valuations meet the requirements of Ind AS, including the level in the fair value hierarchy in which the valuations should be classified.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Group uses observable market data as far as possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The Group recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

Further information about the assumptions made in measuring fair values is included in Note 11.5 – financial instruments.

3. MATERIAL ACCOUNTING POLICIES

A. Basis of consolidation

Subsidiaries are entities controlled by the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns, from its involvement with the entity and has the ability to affect those returns through its power over the entity. The Financial Statements of subsidiaries are included in the Consolidated financial information from the date on which control commences until the date on which control ceases.

Intra-group balances and transactions, and any unrealised income and expenses arising from intra-group transactions, are eliminated.

LatentView Analytics Annual Report 2023-2024

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

4. Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

B. Foreign currency transactions

Transactions in foreign currencies are initially recorded by the Group at their functional currency spot rates at the date of the transaction.

Monetary assets and liabilities denominated in foreign currencies are translated into the functional currency at the exchange rate at the reporting date. Exchange differences that arise on settlement of monetary items or on reporting at each balance sheet date are recognised as income or expenses in the period in which they arise. Non-monetary items which are carried at historical cost denominated in a foreign currency are reported using the exchange rates at the date of transaction. Non-monetary assets and liabilities that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.

Foreign operations: The assets and liabilities of foreign operations (subsidiaries) including fair value adjustments arising on acquisition, if any, are translated into INR, the functional currency of the Company, at the exchange rates at the reporting date. The income and expenses of foreign operations are translated into INR at the exchange rates at the dates of the transactions or an average rate if the average rate approximates the actual rate at the date of the transaction. Foreign currency translation differences are recognised in OCI and accumulated in other equity.

C. Financial instruments

i) Recognition and initial measurement

Trade receivables and debt securities are initially recognised when they are originated. All other financial assets and financial liabilities are initially recognised when the Group becomes a party to the contractual provisions of the instrument.

A financial asset (except trade receivable, which are recognised initially at transaction price as per Ind AS 115) or financial liability is initially measured at fair value plus, for an item not at fair value through profit and loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue.

ii) Classification and subsequent measurement

Financial assets:

On initial recognition, a financial asset is classified as measured at:

amortised cost;
fair value through other comprehensive income (FVOCI) - debt investment;
fair value through other comprehensive income (FVOCI) - equity investment;
fair value through profit and loss (FVTPL).

Financial assets are not reclassified subsequent to their initial recognition, except if and in the period the Group changes its business model for managing financial assets.

A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:

a) the asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and
b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt investment is measured at fair value through other comprehensive income if it meets both the following conditions and is not designated as FVTPL:

a) the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and
b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

On initial recognition of an equity investment that is not held for trading, the Group may irrevocably elect to present subsequent changes in the investment’s fair value in OCI (designated as FVOCI – equity investment). This election is made on an investment by investment basis.

All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. On initial recognition, the Group may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.

Financial assets: Business model assessment

The Group makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed and the information is provided to management. The information considered includes:

the stated policies and objectives for the portfolio and the operation of those policies in practice;
these include whether management strategy focuses on earning contractual interest, maintaining a particular interest rate profile, matching the duration of financial assets to the duration of any related liabilities or expected cash outflows or realising cash flows through the sale of assets;
how the performance of the portfolio is evaluated and reported to the Group’s management;
the risk that affect the performance of the business model (and the financial assets held with in the business model) and how those risks are managed;
how managers of the business are compensated;

the frequency, volume and timing of sales of financial assets in prior period, the reasons for such sales and expectations about future sales activity;

transfers of financial assets to third parties in transactions that do not qualify for derecognition are not considered sales for this purpose, consistent with the Company’s continuing recognition of the assets.

Financial assets that are held for trading or are managed and whose performance is evaluated on fair value basis are measured at FVTPL.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

4. Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Financial assets: Assessment whether contractual cash flows are solely payments of principal and interest

For the purposes of this assessment, ‘principal’ is defined as the fair value of the financial asset on initial recognition. ‘Interest’ is defined as consideration for the time value of money and for the credit risk associated with the principal amount outstanding during a particular period of time and for other basic lending risks and costs, as well as a profit margin.

In assessing whether the contractual cash flows are solely payments of principal and interest, the Group considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Group considers:

contingent events that would change the amount or timing of cash flows;
terms that may adjust the contractual coupon rate, including variable interest rate features;
prepayment and extension features; and
terms that limit the Group’s claim to cash flows from specified assets.

A prepayment feature is consistent with the solely payments of principal and interest criterion if the prepayment amount substantially represents unpaid amounts of principal and interest on the principal amount outstanding, which may include reasonable additional compensation for early termination of the contract. Additionally, for a financial asset acquired at a significant discount or premium to its contractual par amount, a feature that pertains or requires prepayment at an amount that substantially represents the contractual par amount plus accrued (but unpaid) contractual interest (which may also include reasonable additional compensation for early termination) is treated as consistent with this criterion if the fair value of the prepayment feature is insignificant at initial recognition.

Financial assets: Subsequent measurement and gains and losses

Financial assets at These assets are subsequently measured at fair value. Net gains and losses, including FVTPL any interest or dividend income, are recognised in statement of profit and loss. Financial assets at These assets are subsequently measured at amortised cost using the effective interest amortised cost method. The amortised cost is reduced by the impairment losses. Interest income, foreign exchange gains and losses and impairment are recognised in statement of profit and loss. Any gain or loss on derecognition is recognised in statement of profit and loss. Equity investments at These assets are subsequently measured at fair value. Dividends are recognised as FVOCI income in profit or loss unless the dividend clearly represents a recovery of part of the cost of the investment. Other net gains and losses are recognised in OCI and are not reclassified to statement of profit and loss.

Financial liabilities: Classification, subsequent measurement and gains and losses

Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held for trading, or if it is a derivative, or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognised in statement of profit and loss. Any gain or loss on derecognition is also recognised in statement of profit and loss.

iii) Derecognition

Financial assets:

The Group derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Group neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the financial asset.

If the Group enters into transactions whereby it transfers assets recognised on its balance sheet, but retains either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognised.

Financial liabilities:

The Group derecognises a financial liability when its contractual obligations are discharged or cancelled, or expire.

The Group also derecognises a financial liability when its terms are modified and the cash flows under the modified terms are substantially different. In this case, a new financial liability based on the modified terms is recognised at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognised in profit or loss.

iv) Offsetting

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only when, the Group currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously.

v) Derivative financial instruments

Derivatives are initially measured at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit or loss.

D. Property, plant and equipment

i) Recognition and initial measurement

Items of property, plant and equipment are measured at cost, (which includes capitalised borrowing costs, if any) less accumulated depreciation and accumulated impairment losses, if any.

Cost of an item of property, plant and equipment comprises its purchase price, including import duties and nonrefundable purchase taxes, after deducting trade discounts and rebates, any directly attributable cost of bringing the item to its working condition for its intended use.

The cost of a self-constructed item of property, plant and equipment comprises the cost of materials and direct labour, any other costs directly attributable to bringing the item to working condition for its intended use.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment.

Any gain or loss on disposal of an item of property, plant and equipment is recognised in statement of profit and loss.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Amortisation method, useful lives and residual values are reviewed at the end of each Financial Year and adjusted if appropriate.

ii) Subsequent expenditure

Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Group.

F. Impairment

i) Impairment of financial assets

iv) Depreciation

The Group recognises loss allowances for expected credit losses on financial assets measured at amortised cost.

Depreciation is calculated on cost of items of property, plant and equipment less their estimated residual values over their estimated useful lives using the straight-line method, and is recognised in the statement of profit and loss. Freehold land is not depreciated. The estimated useful lives of items of property, plant and equipment for the current and comparative periods are as follows:

At each reporting date, the Group assesses whether financial assets carried at amortised cost are credit impaired. A financial asset is ‘credit impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.

an comparative perios are as oows	:		ca
Asset category	Management estimate	Useful life as per
	of useful life	Schedule II	Ev
Offce equipment	5	5/10	-
Electrical equipment Computers	10 3-5	10 3/6	-
Furnitures and fxtures	10	10	-
Vehicles	8	8/10	-
Leasehold improvements	5	5

Evidence that a financial asset is credit impaired includes the following observable data:

significant financial difficulty of the borrower or issuer;

a breach of contract such as a default or past dues;

the restructuring of a loan or advance by the Group on terms that the Group would not consider otherwise;

it is probable that the borrower will enter bankruptcy or other financial reorganisation; or

the disappearance of an active market for a security because of financial difficulties.

Depreciation method, useful lives and residual values are reviewed at each Financial Year-end and adjusted if appropriate. Based on management internal evaluation, the management believes that its estimates of useful lives as above best represent the period over which management expects to use such assets.

The Group follows ‘simplified approach’ for recognition of impairment loss allowance on trade receivables which do not contain a significant financing component. The application of simplified approach does not require the Group to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime impairment pattern at each balance sheet date, right from its initial recognition.

Depreciation on additions (disposals) is provided on a pro-rata basis i.e. from (up to) the date on which asset is ready for use (disposed of).

The Group always measures the loss allowance for trade receivables at an amount equal to lifetime expected credit loss (ECL). The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix under simplified approach. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due.

E. Intangible assets

i) Recognition and initial measurement

Intangible assets of the Group comprises of purchased software that are initially measured at cost. Such intangible assets are subsequently measured at cost less accumulated amortisation and any accumulated impairment losses.

Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due.

ii) Subsequent expenditure

Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates.

iii) Amortisation

Amortisation is calculated to write off the cost of intangible assets less their estimated residual values over their estimated useful lives using the straight-line method, and is included in depreciation and amortisation in Statement of Profit and Loss.

The Group measures loss allowances at an amount equal to lifetime expected credit losses, except for the following, which are measured as 12 months expected credit losses:

debt securities that are determined to have low credit risk at the reporting date; and

The estimated useful lives are as follows:

other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition.

The estimated useful lives are as follows:
Asset category	Management estimate of useful life
Software	3

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Loss allowances for trade receivables and contract assets are always measured at an amount equal to lifetime expected credit losses.

Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument.

12 months expected credit losses are the portion of expected credit losses that result from default events that are possible within 12 months after the reporting date (or a shorter period if the expected life of the instrument is less than 12 months).

In all cases, the maximum period considered when estimating expected credit losses is the maximum contractual period over which the Group is exposed to credit risk.

When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating expected credit losses, the Group considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Group’s historical experience and informed credit assessment and including forward looking information.

The Group considers a financial asset to be in default when:

the borrower is unlikely to pay its credit obligations to the Group in full, without recourse by the Group to actions such as realising security (if any is held); or
the financial asset is more than past due.

Presentation of allowance for expected credit losses in the balance sheet

Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the assets.

Write-off

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Group determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Group’s procedures for recovery of amounts due.

ii) Impairment of non-financial assets

The Group’s non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.

For impairment testing, assets that do not generate independent cash inflows are grouped together into cashgenerating units (CGUs). Each CGU represents the smallest group of assets that generates cash inflows that are largely independent of the cash inflows of other assets or CGUs.

The recoverable amount of a CGU (or an individual asset) is the higher of its value in use and its fair value less costs to sell. Value in use is based on the estimated future cash flows, discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the CGU (or the asset).

The Group’s corporate assets (e.g., head office building for providing support to various CGUs) do not generate independent cash inflows. To determine impairment of a corporate asset, recoverable amount is determined for the CGUs to which the corporate asset belongs.

An impairment loss is recognised if the carrying amount of an asset or CGU exceeds its estimated recoverable amount. Impairment losses are recognised in the statement of profit and loss. Impairment loss recognised in respect of a CGU is allocated first to reduce the carrying amount of any goodwill allocated to the CGU, and then to reduce the carrying amounts of the other assets of the CGU (or group of CGUs) on a pro rata basis.

An impairment loss in respect of assets for which has been recognised in prior periods, the Group reviews at each reporting date whether there is any indication that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. Such a reversal is made only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

G. Employee benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid, if the Group has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the amount of obligation can be estimated reliably.

Provident fund

A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. The Group makes specified monthly contributions towards Government administered provident fund scheme. Obligations for contributions to defined contribution plans are recognised as an employee benefit expense in profit or loss in the periods during which the related services are rendered by employees.

Gratuity

The holding Company provides for gratuity, a defined benefit plan (the “Gratuity Plan”), covering eligible employees. The Plan provides payment to vested employees at retirement, death or termination of employment, of an amount based on the respective employee’s salary and the tenure of employment with the Company. The Group provides the gratuity benefit through annual contribution to a fund managed by the Life Insurance Corporation of India (LIC). Such contributions are determined by LIC based on actuarial valuation using “”projected unit credit method”” as at the balance sheet date.

Remeasurement of the net defined benefit liability with respect to Gratuity, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised in OCI. The Company determines the net interest expense/(income) on the net defined benefit

LatentView Analytics Annual Report 2023-2024

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Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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liability/(asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability/(asset), taking into account any changes in the net defined benefit liability/(asset) during the period as a result of contributions and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised in statement of profit and loss.

Compensated absences

The Group accounts for its liability towards compensated absences based on actuarial valuation done as at the year end by an independent actuary using projected unit credit method. Remeasurement gain or losses are recognised in statement of profit or loss in the period in which they arise.

Share based payment

The grant date fair value of equity settled share-based payment awards granted to employees is recognised as an employee expense, with a corresponding increase in equity, over the period that the employees unconditionally become entitled to the awards. The amount recognised as expense is based on the estimate of the number of awards for which the related service and non-market vesting conditions are expected to be met, such that the amount ultimately recognised as an expense is based on the number of awards that do meet the related service and non-market vesting conditions at the vesting date.

H. Revenue

The Group is primarily engaged in the business of rendering analytical services.

The Group has revenue from customers. The Group recognizes revenue when it satisfies performance obligations under the terms of its contracts, and control of its services is transferred to its customers in an amount that reflects the consideration the Group expects to receive from its customers in exchange for those services. This process involves identifying the customer contract, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it (a) provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and (b) is separately identified in the contract.

Taxes assessed by a government authority that are both imposed on and concurrent with a specific revenueproducing transaction, that are collected by the Group from a customer, are excluded from sales.

A performance obligation is satisfied over time if one of the following criteria are met:

the customer simultaneously receives and consumes the benefits as the entity performs;
the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

If control transfers over time, an entity selects a method to measure progress that is consistent with the objective of depicting its performance.

Nature of services

The Group generally recognizes revenue for analytical services over time as the Group’s performance creates or enhances an asset that the customer controls from fixed price contracts and the customers simultaneously receives

and consumes the benefits as and when the milestones are completed as per the terms of the contract. Revenue on time-and-material contracts are recognised as the related services are performed.

The Group has adopted the ‘as-invoiced’ practical expedient for performance obligation satisfied over time with respect to certain fixed price contracts. It permits an entity to recognize revenue in the amount to which it has a right to invoice the customer if that amount corresponds directly with the value to the customer of the entity’s performance completed to date.

Contract assets and liabilities

Contract assets are recognised when there is excess of revenue earned over billings on contracts. Unbilled revenue are classified as contract assets when there is a conditional right to receive cash as per contractual terms.

The term between invoicing and when payment is due is not significant. As a practical expedient, the Group does not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is one year or less.

When the Company receives consideration from a customer prior to performing services to the customer under the terms of a contract, the Company records deferred revenue, which represents a contract liability. The Company recognizes deferred revenue as revenue after the Company has performed services to the customer and all revenue recognition criteria are met.

Contract assets and contract liabilities are reported in a net position on an individual contract basis at the end of each reporting period. Contract assets are classified as current on the balance sheet when the Group expects to complete the related performance obligations and invoice the customers within one year of the balance sheet date, and as long-term when the Group expects to complete the related performance obligations and invoice the customers more than one year out from the balance sheet date. Contract liabilities are classified as current on the balance sheet when the revenue recognition associated with the related customer payments and invoicing is expected to occur within one year of the balance sheet date and as long-term when the revenue recognition associated with the related customer payments and invoicing is expected to occur in more than one year from the balance sheet date.

Contract acquisition/fulfilment costs are generally expensed as incurred except which meet the criteria for capitalisation. The assessment of this criteria requires the application of judgement, in particular when considering if costs generate or enhance resources to be used to satisfy future performance obligations and whether costs are expected to be recovered. Applying the practical expedient, the entity recognises the incremental costs of obtaining contracts as an expense when incurred if the amortisation period of the assets that the entity otherwise would have recognised is one year or less.

The Group records reimbursable out of pocket expenses in both revenue and respective expense head. the goods or services giving rise to the out-of-pocket costs do not transfer a good or service to the customer. Rather, the goods or services are used or consumed by the entity in fulfilling its performance obligation to the customer. Therefore, typical out-of-pocket costs (e.g. travel, meals, lodging) and the reimbursements of such costs from the customer are presented on a gross basis and are included as part of transaction price.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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Other income

Dividend income is recognised when the right to receive payment is established by the balance sheet date.

Interest income is recognised on a time proportion basis taking into account the amount outstanding and the effective interest rate. Interest income is included under the head “other income” in the Statement of Profit and Loss.

The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to:

the gross carrying amount of the financial asset; or
the amortised cost of the financial liability.

In calculating interest income and expense, the effective interest rate is applied to the gross carrying amount of the asset (when the asset is not credit-impaired) or to the amortised cost of the liability. However, for financial assets that have become credit-impaired subsequent to initial recognition, interest income is calculated by applying the effective interest rate to the amortised cost of the financial asset. If the asset is no longer credit-impaired, then the calculation of interest income reverts to the gross basis.

I. Leases

The Group assesses whether a contract contains a lease,at inception of a contract. A contract is,or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset, the Group assesses whether: (1) the contract involves the use of an identified asset (2) the Group has substantially all of the economic benefits from use of the asset through the period of the lease and (3) the Group has the right to direct the use of the asset.

As lessee

The Group’s lease asset classes primarily consist of leases for buildings (office premises). The Group, at the inception of a contract, assesses whether the contract is a lease or not. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a time in exchange for a consideration.

At the date of commencement of the lease,the Group recognizes a right-of-use asset (“ROU”) and a corresponding lease liability for all lease arrangements in which it is a lessee,except for leases with a term of twelve months or less (short-term leases) and low value leases. For these short-term and low value leases, the Group recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.

The group elected to use the following practical expedients on initial application:

a) Applied a single discount rate to a portfolio of leases of similar assets in similar economic environment with a similar end date;
b) Applied the exemption not to recognize right-of-use assets and liabilities for leases with less than 12 months of lease term on the date of initial application;
c) Excluded the initial direct costs from the measurement of the right-of-use asset at the date of initial application.

Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and lease liabilities includes these options when it is reasonably certain that they will be exercised.

The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e.the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cashflows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Group’s incremental borrowing rate. Generally, the Group uses its incremental borrowing rate as the discount rate.

Lease payments included in the measurement of the lease liability comprise the following:

fixed payments, including in-substance fixed payments;
variable lease payments that depend on an index or a rate, initially measured using the index or rate as at the commencement date;
amounts expected to be payable under a residual value guarantee; and
the exercise price under a purchase option that the Group is reasonably certain to exercise, lease payments in an optional renewal period if the Group is reasonably certain to exercise an extension option, and penalties for early termination of a lease unless the Group is reasonably certain not to terminate early.

The lease liability is measured at amortised cost using the effective interest method. It is remeasured when there is a change in future lease payments arising from a change in an index or rate, if there is a change in the Group’s estimate of the amount expected to be payable under a residual value guarantee, or if the Group changes its assessment of whether it will exercise a purchase, extension or termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

J. Operating cycle

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents. The Group has identified twelve months as its operating cycle.

K. Income tax

Income tax comprises current and deferred tax. It is recognised in statement of profit and loss except to the extent that it relates to a business combination or to an item recognised directly in equity or in other comprehensive income.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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i) Current tax

Current tax comprises the expected tax payable or receivable on the taxable income or loss for the year and any adjustment to the tax payable or receivable in respect of previous years. The amount of current tax reflects the best estimate of the tax amount expected to be paid or received after considering the uncertainty, if any, related to income taxes. It is measured using tax rates (and tax laws) enacted or substantively enacted by the reporting date.

Current tax assets and current tax liabilities are offset only if there is a legally enforceable right to set off the recognised amounts, and it is intended to realise the asset and settle the liability on a net basis or simultaneously.

The Holding Company benefits from the tax holiday available for units set up under the Special Economic Zone Act, 2005. These tax holidays are available for a period of fifteen years from the date of commencement of operations. Under the SEZ scheme, the unit which begins providing services on or after April 1, 2005 will be eligible for deductions of 100% of profits or gains derived from export of services for the first five years, 50% of such profits or gains for a further period of five years and 50% of such profits or gains for the balance period of five years subject to fulfilment of certain conditions.

ii) Deferred tax

Deferred tax is recognised in respect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the corresponding amounts used for taxation purposes.

Deferred tax assets including Minimum alternative tax (MAT) are recognised to the extent that it is probable that future taxable profits will be available against which they can be used. Deferred tax assets – unrecognised or recognised, are reviewed at each reporting date and are recognised/reduced to the extent that it is probable/no longer probable respectively that the related tax benefit will be realised.

Deferred tax is measured at the tax rates that are expected to apply to the period when the asset is realised or the liability is settled, based on the laws that have been enacted or substantively enacted by the reporting date.

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Group expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.

Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax liabilities and assets, and they relate to income taxes levied by the same tax authority on the same taxable entity, or on different tax entities, but they intend to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realised simultaneously.

Deferred income tax liabilities are recognised for all taxable temporary differences except in respect of taxable temporary differences associated with investments in subsidiaries where timing of the reversal of the temporary difference can be controlled and it is probable that the temporary difference will not reverse in the foreseeable future.

The Company has availed the tax holiday benefits under Section 10AA of the Income Tax Act, 1961 and accordingly, its business income to the extent covered by the section is exempt (to the extent of 50% of the profits earned by the SEZ units) from income tax up-to and including the year ending March 31, 2023. Deferred taxes that are scheduled to reverse during the tax holiday period are not recognised.

L. Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM) of the Group. The CODM is responsible for allocating resources and assessing performance of the operating segments of the Group. For the disclosure on reportable segments see Note 24.

M. Cash and cash equivalents

Cash and Cash equivalents comprise cash, bank balances and bank deposits having original maturity less than three months.

N. Earnings per share

i) Basic earnings per share

Basic earnings per share is calculated by dividing:

a. the net profit attributable to owners of the Group;
b. by the weighted average number of equity shares outstanding during the Financial Year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares.

ii) Diluted earnings per share

Diluted earning per share adjusts the figures used in the determination of basic earnings per share to take into account:

a. the after income tax effect of interest and other financing costs associated with dilutive potential equity shares; and
b. the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

O. Government grants

Government grants are not recognised until there is reasonable assurance that the Group will comply with the conditions attaching to them and that the grants will be received. Such grants are valued at fair value at the initial recognition.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the Company recognises as expenses the related costs for which the grants are intended to compensate. Specifically, government grants whose primary condition is that the Company should purchase, construct or otherwise acquire non-current assets are recognised as deferred income in the balance sheet and transferred to profit or loss on a systematic basis over the useful lives of the related assets.

Government grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the Company with no future related costs are recognised in profit or loss in the period in which they become receivable.

P. Recent pronouncements

Ministry of Corporate Affairs (“MCA”) notifies new standards or amendments to the existing standards under Companies (Indian Accounting Standards) Rules as issued from time to time. For the year ended March 31, 2024, MCA has not notified any new standards or amendments to the existing standards applicable to the Company.

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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4. PROPERTY, PLANT AND EQUIPMENT

(See accounting policies in note3(D))

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(See accounting policies in	note3(D))	note3(D))
Asset description	Gross carrying amount Accumulated depreciation		Net carrying amount
	April 1, 2023 Additions Exchange differences in translating Financial Statements of foreign operations Disposals/ Write-off Mar 31, 2024 April 1, 2023 Charge Exchange differences in translating Financial Statements of foreign operations Accumulated depreciation on disposals/ write-off Mar 31, 2024		Mar 31, 2024 March 31, 2023
Leasehold improvements	2.82 2.82 2.32 0.09 - - 2.41		0.41 0.50
Computers	161.22 66.40 0.69 (32.07) 196.24 96.80 46.23 0.47 (32.07) 111.43		84.81 64.42
Furniture and fxtures	11.72 - - - 11.72 9.01 1.41 - - 10.42		1.30 2.71
Offce equipment	4.11 3.36 (0.37) (0.71) 6.39 2.26 1.04 - (0.71) 2.59		3.80 1.85
Electrical equipment	4.51 0.32 - - 4.83 3.88 0.77 - - 4.66		0.17 0.63
Total	184.39 70.08 0.32 (32.78) 222.00 114.27 49.54 0.47 (32.78) 131.50		90.50 70.11

Asset description	Gross carrying amount Accumulated depreciation/impairment		Net carrying amount
	April 1, 2022 Additions Exchange differences in translating Financial Statements of foreign operations Disposals/ Write-off Mar 31, 2023 April 1, 2022 Charge Exchange differences in translating Financial Statements of foreign operations Accumulated depreciation on disposals/ write-off Mar 31, 2023		Mar 31, 2023 March 31, 2022
Leasehold improvements	2.82 - - - 2.82 1.82 0.50 - - 2.32		0.50 1.00
Computers	131.41 32.01 1.85 (4.04) 161.22 61.35 38.05 0.75 (3.36) 96.80		64.42 70.06
Furniture and fxtures	11.72 - - - 11.72 6.87 2.14 - - 9.01		2.71 4.85
Offce equipment	3.85 0.87 0.08 (0.69) 4.11 2.30 0.61 0.04 (0.69) 2.26		1.85 1.55
Electrical equipment	4.51 - - - 4.51 2.85 1.03 - - 3.88		0.63 1.66
Total	154.31 32.88 1.93 (4.73) 184.39 75.19 42.33 0.79 (4.05) 114.27		70.11 79.12
5. RIGHT-OF-USE ASSETS
Asset description		Gross carrying amount Accumulated depreciation/impairment Exchange differences in translating Financial Statements of foreign operations* April 1, 2023 Additions Deletions/ adjustments Mar 31, 2024 April 1, 2023 Charge Accumulated depreciation on disposals Mar 31, 2024	Net carrying amount
			Mar 31, 2024 Mar 31, 2023
Building		344.82 69.80 - 414.62 181.71 46.96 - 228.67 (1.42)	184.53 161.69
Total		344.82 69.80 - 414.62 181.71 46.96 - 228.67 (1.42)	184.53 161.69

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

5. RIGHT-OF-USE ASSETS (Contd.)

5. RIGHT-OF-USE A	SSETS(Contd.)
Asset description	Gross carrying amount Accumulated depreciation/impairment Exchange differences in translating Financial Statements of foreign operations* April 1, 2022 Additions Deletions/ adjustments Mar 31, 2023 April 1, 2022 Charge Accumulated depreciation on disposals Mar 31, 2023	Net carrying amount
		Mar 31, 2023 March 31, 2022
Building	344.82 - - 344.82 135.92 45.79 - 181.71 (1.42)	161.69 207.66
Total	344.82 - - 344.82 135.92 45.79 - 181.71 (1.42)	161.69 207.66

The aggregate depreciation expense on ROU asset is included under depreciation and amortization expense in the Financial Statements.

*The adjustment on account of foreign currency translation of the gross block and accumulated depreciation has been netted off.

6. INTANGIBLE ASSETS

6. INTANGIBLE ASSETS
Asset description	Gross carrying amount Accumulated amortisation/impairment Net carrying amount
	April 1, 2023 Additions Deletions/ adjustments Mar 31, 2024 April 1, 2023 Charge Accumulated amortisation on disposals Mar 31, 2024 Mar 31, 2024 Mar 31, 2023
Acquired software	4.25 - - 4.25 4.14 0.11 - 4.25 - 0.11
Total	4.25 - - 4.25 4.14 0.11 - 4.25 - 0.11

Asset description	Gross carrying amount Accumulated amortisation/impairment Net carrying amount April 1, 2022 Additions Deletions/ adjustments Mar 31, 2023 April 1, 2022 Charge Accumulated amortisation on disposals Mar 31, 2023 Mar 31, 2023 March 31, 2022
Acquired software	4.25 - - 4.25 4.11 0.03 4.14 0.11 0.14
Total	4.25 - - 4.25 4.11 0.03 - 4.14 0.11 0.14

7. INCOME TAX

(See accounting policies in note 3(K))

7.1 Amount recognised in statement of profit and loss

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7.1 Amount recognised in statement of proft and loss
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Current tax	429.11	333.41
Deferred tax (beneft)/charge
- Deferred tax (beneft)/charge	(45.30)	5.92
- MAT entitlement credit	-	-
Income tax expense reported in the statement ofproft or loss	383.81	339.33

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

7.2 Income tax recognised in other comprehensive income

7.2 Income tax recognised in other comprehensive income
Particulars	Before tax	Tax (expense)/beneft	Net of tax
Re-measurement of defned beneft liability/(asset)
As at March 31, 2024	(7.74)	2.25	(5.49)
As at March 31, 2023	(1.00)	0.29	(0.71)

7.3 Reconciliation of effective tax rate

7.3 Reconciliation of effective tax rate
Particulars	As at March 31, 2024 As at March 31, 2023
	% Amount % Amount
Proft before tax	1,970.25 1,893.64
Tax usingthe Company's domestic tax rate	29.12% 573.74 29.12% 551.43
Effect of:
Impact on account of tax holiday	-2.20% (43.42) -6.08% (115.14)
Other than temporarydifference	0.16% 3.24 0.13% 2.37
Tax deductions available in LatentView Analytics Corporation	-0.12% (2.27) -2.18% (41.25)
Set-off of carried forward losses in LatentView Analytics Corporation	-4.96% (97.77) 0.00% -
Recognition of Deferred Tax Asset on carried forward losses	-2.65% (52.29) 0.00% -
On account of differentjurisdiction	0.13% 2.58 -3.07% (58.08)
	19.48% 383.81 17.92% 339.33

During the year ended March 31, 2023, the subsidiary LatentView analytics Corporation (LV-US) did not recognize deferred tax assets on tax losses amounting to ` 210.93 millions as on March 31, 2023 owing to the cumulative tax loss position. The cumulative tax loss is largely driven by the ESOP deduction in FY23. The management anticipated additional ESOP deductions in future tax years and due to the uncertain nature of the timing and value of the option exercises, it was difficult to predict the amount of the future deductions and the period in which the losses can be set off.

During the year ended March 31, 2024, the subsidiary LatentView analytics Corporation (LV-US) has generated taxable profits and the deductions on account of exercise of employee stock options were not significant, on account of which the Group has revised their estimate of future taxable profits based on considering the outstanding exercisable option as at March 31, 2024 and the subsidiary recognised the tax effect of 205.29 millions of previously unrecognised tax losses (tax impact: 52.29 millions) because management considered it probable that future taxable profits would be available against which such losses can be used. The management has not recognised deferred tax asset on cumulative losses to the extend of ` 52.64 millions, as it is not probable that the future taxable profits will be available against which the subsidiary can use these benefits.

Deferred tax on carried forward losses in LatentView Analytics UK Ltd and LatentView Analytics BV have not been recognised based on management assessment.

7.4 Deferred tax assets and (liabilities) are attributable to the following

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LatentView Analytics Annual Report 2023-2024

7.4 Deferred tax assets and (liabilities) are attributable to the following
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Deferred tax relates to the following:
Property,plant and equipment	6.61	5.43
Ind AS 116 impact	13.65	6.97
Mutual funds at fair value throughproft and loss	(25.77)	(3.86)

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

7.4 Deferred tax assets and (liabilities) are attributable to the following (Contd.)

7.4 Deferred tax assets and (liabilities) are attributable to the following(Contd.)	7.4 Deferred tax assets and (liabilities) are attributable to the following(Contd.)
Particulars As at March 31, 2024 As at March 31, 2023
Notional interest on fnancial instruments carried at amortised cost 4.91 4.92
Derivatives at fair value throughproft and loss 0.89 (1.49)
Others 3.68 1.57
Minimum Alternate tax credit 46.75 177.25
Premium on amortization of bonds 3.53 -
Provision - Employee benefts 12.44 -
Accrued Bonus 4.27 -
Accrued Interest 0.30 -
Net OperatingLosses (LatentView analytics Corp) 36.79 -
108.05 190.79
7.5 Movement in temporary differences
Particulars Balance as at March 31, 2022 Recognised in proft or loss Recognised in OCI MAT credit movement Balance as at March 31, 2023
Property,plant and equipment 7.31 (1.88) - - 5.43
Ind AS 116 impact 6.76 0.21 - - 6.97
Fair value throughproft and loss of mutual funds (9.65) 5.79 - - (3.86)
Notional interest on fnancial instruments carried at amortised cost 2.22 2.70 - - 4.92
Derivative at fair value throughproft and loss - (1.49) - - (1.49)
Minimum alternate tax availed/(utilised) 243.98 - - (66.73) 177.25
Effect of foreign exchange differences on deferred tax assets (net) 1.01 (0.64) (1.20) - 1.57
Provision for Employee benefts 10.90 (10.61) 0.29 - -
262.53 (5.92) (0.91) (66.73) 190.79

Particulars Balance as at March 31, 2023 Recognised in proft or loss Recognised in OCI MAT credit movement	Balance as at March 31, 2024
Property, plant and equipment 5.43 1.18 - - 6.61
Ind AS 116 impact 6.97 6.68 - - 13.65
Fair value throughproft and loss of mutual funds (3.86) (21.91) - - (25.77)
Notional interest on fnancial instruments carried at amortised cost 4.92 3.51 - - 8.44
Derivative at fair value throughproft and loss (1.49) 2.38 - - 0.89
Minimum alternate tax availed/(utilised) 177.25 - - (130.50) 46.75
Effect of foreign exchange differences on deferred tax assets(net) 1.57 1.91 (0.20) - 3.68

(All amounts are in millions of Indian Rupees, unless stated otherwise)

155

7.5 Movement in temporary differences (Contd.)

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7.5 Movement in temporary differences(Contd.)
Particulars Balance as at March 31, 2023 Recognised in proft or loss Recognised in OCI MAT credit movement	Balance as at March 31, 2024
Provision for Employee benefts - 10.19 2.25 - 12.44
Accrued Bonus - 4.27 - - 4.27
Accrued Interest - 0.30 - - 0.30
Net OperatingLosses(LatentView analytics Corp) - 36.79 - - 36.79
190.79 45.30 2.05 (130.50) 108.05

7.6 Other tax assets (net)

7.6 Other tax assets (net)
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Advance income tax, net ofprovision - Non-current	60.84	45.34

7.7 Current tax liabilities (net)

7.7 Current tax liabilities (net)
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Provision for income tax, net of advance tax	29.31	17.48

8. FINANCIAL ASSETS

8.1 Investments

(See accounting policies in note3(C))

8.1.1 Investment in debt instrument

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8. FINANCIAL ASSETS 8.1 Investments (See accounting policies in note3(C)) 8.1.1 Investment in debt instrument
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Quoted,carried at fair value throughproft or loss
Investments in mutual funds	- 1,719.12 1,719.12 - 428.20 428.20
Investment in market linked debenture	- 275.83 275.83 - 256.15 256.15
Investment in liquidityfunds	- - - - 83.53 83.53
	- 1,994.95 1,994.95 - 767.88 767.88
Quoted,carried at amortised cost
Investment in bonds	2,846.15 582.98 3,429.13 2,452.37 699.51 3,151.88
Investments in Government securities	426.03 806.42 1,232.45 - 1,016.64 1,016.64
Interest accrued on investments	17.65 83.41 101.06 3.50 67.35 70.85
	3,289.83 1,472.81 4,762.64 2,455.87 1,783.50 4,239.37
	3,289.83 3,467.76 6,757.59 2,455.87 2,551.38 5,007.25

(All amounts are in millions of Indian Rupees, unless stated otherwise)

156

8.1.2 Details of quoted and unquoted investments

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Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

8.1.2 Details of quoted and unquoted investments
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Aggregate book value ofquoted non-current investments	3,272.18 3,384.35 6,656.53 2,452.37 2,484.03 4,936.40
Aggregate market value ofquoted non-current investments	3,272.18 3,384.35 6,656.53 2,452.37 2,484.03 4,936.40
Aggregate amount of impairment in value of investments	- - - - - -
8.1.3 Details of investment in mutual funds are as follows:
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
63,253(March 31,2023: 63,253)units of Axis Banking& PSU Debt Fund - Regular Growthplan	- 151.05 151.05 - 141.28 141.28
855,958(March 31,2023: NIL)units of ICICI Prudential Bond Fund - Direct Plan Growth	- 32.67 32.67 - - -
12,184,804(March 31,2023: NIL)units of Tata Banking& PSU Debt Fund - Regular Plan - Growth	- 158.42 158.42 - - -
2,038,115(March 31,2023: NIL)units of HDFC Bankingand PSU Debt Fund - Regular Plan - Growth	- 42.45 42.45 - - -
447,353(March 31,2023: NIL)units of ICICI Prudential MoneyMarket Fund - Direct Plan - Growth	- 156.23 156.23 - - -
3,749,958(March 31,2023: NIL)units of ICICI Prudential Corporate Bond fund - Direct Plan - Growth	- 105.54 105.54 - - -
1,066,496(March 31,2023: NIL)units of HDFC Corporate Bond Fund - Regular - Growth	- 31.29 31.29 - - -
698,902(March 31,2023: NIL)units of HDFC Corporate Bond Fund - Direct - Growth	- 20.89 20.89 - - -
2,733,388(March 31,2023: NIL)units of Sundaram Corporate Bond Fund Direct Growth	- 102.23 102.23 - - -
183,714(March 31,2023: NIL)units of Sundaram Liquid Fund Direct Growth	- 391.74 391.74 - - -
53,495(March 31,2023: NIL)units of HDFC Liquid Fund - Direct - Growth	- 251.32 251.32 - - -
NIL(March 31,2023: 10,945,623)Units of BHARAT BOND FOF April 2023 - Regular - Growth	- - - - 133.76 133.76
12,038,747(March 31,2023: NIL)Units of BHARAT BOND FOF April 2025 - Regular - Growth	- 143.53 143.53 - - -
11,936,138(March 31,2023:11,936,138)Units of HDFC NiftyG SEC DEC 2026	- 131.76 131.76 - 122.84 122.84
NIL(March 31,2023: 90,991)units of ICICI Prudential Liquid Fund - Direct Plan - Growth	- - - - 30.32 30.32
	- 1,719.12 1,719.12 - 428.20 428.20
Details of investment in market linked debenture is as follows:
250 (March 31, 2023 - 250) units of Kotak Mahindra Investments Limited MLD August 27, 2024	- 275.83 275.83 - 256.15 256.15
	- 275.83 275.83 - 256.15 256.15
Details of investment in liquidityfunds is as follows:
NIL (March 31, 2023:1,017,235) units Blackrock LiquidityFunds TreasuryTrust	- - - - 83.53 83.53
	- - - - 83.53 83.53
Details of Investment inquoted bonds carried at amortised cost
20 (March 31, 2023 - 20) units of 6.42% National Bank for Agriculture and Rural Development 2030	20.04 - 20.04 20.06 - 20.06
100 (March 31, 2023 - 100) units of 6.50% Power Finance Corporation Limited bonds 2025	100.48 - 100.48 100.81 - 100.81
150 (March 31, 2023 - 100) units of 7.41% Power Finance Corporation Limited bonds 2030	152.46 - 152.46 152.87 - 152.87

(All amounts are in millions of Indian Rupees, unless stated otherwise)

157

8.1.3 Details of investment in mutual funds are as follows: (Contd.)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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8.1.3 Details of investment in mutual funds are as follows:(Contd.)
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
50 (March 31, 2023 - 50) units of 7.68% Power Finance Corporation Limited bonds 2030	51.31 - 51.31 51.51 - 51.51
281 (March 31, 2023 - 151) units of 9.25% Power Finance Corporation Limited bonds 2024	- 283.07 283.07 287.32 - 287.32
100 (March 31, 2023 - 100) units of 6.09% Power Finance Corporation Limited bonds 2026	99.87 - 99.87 99.81 - 99.81
200 (March 31, 2023 - 200) units of 5.94% Rural Electrifcation Corporation Limited bonds 2026	198.83 - 198.83 198.20 - 198.20
100 (March 31, 2023 - 100) units of 6.88% Rural Electrifcation Corporation Limited bonds 2025	- 99.89 99.89 99.78 - 99.78
50 (March 31, 2023 - 50) units of 6.99% Rural Electrifcation Corporation Limited bonds 2024	- 49.99 49.99 49.98 - 49.98
50 (March 31, 2023 - 50) units of 7.96% Rural Electrifcation Corporation Limited bonds 2030	51.74 - 51.74 52.02 - 52.02
24 (March 31, 2023 - 24) units of 8.75% Rural Electrifcation Corporation Limited bonds 2025	24.52 - 24.52 24.93 - 24.93
50 (March 31, 2023 - 50) units of 7.52% Rural Electrifcation Corporation Limited bonds 2026	51.71 - 51.71 52.37 - 52.37
200 (March 31, 2023 - 200) units of 5.63% Government of India bonds 2026	198.61 - 198.61 197.93 - 197.93
NIL (March 31, 2023 - 150) units of 6.80% Rural Electrifcation Corporation Limited bonds 2023	- - - - 150.01 150.01
NIL (March 31, 2023 - 200) units of 5.70% National Bank for Agriculture and Rural Development 2025	- - - 197.10 - 197.10
50 (March 31, 2023 - 50) units of 6.00% HousingDevelopment Finance Corporation Limited 2026	49.39 - 49.39 49.10 - 49.10
1,500,000 (March 31, 2023 - 1,500,000) units of 5.74% Government Securities 2026	146.87 - 146.87 145.68 - 145.68
1,000,000 (March 31, 2023 - 1,000,000) units of 7.35% Government of India bonds 2024	- 100.14 100.14 100.74 - 100.74
NIL (March 31, 2023 - 100) units of 5.96% Kotak Mahindra Prime Limited 2024	- - - - 100.02 100.02
50 (March 31, 2023 - 50) units of 5.75% Axis Finance Limited 2024	- 49.89 49.89 49.64 - 49.64
300 (March 31, 2023 - 300) units of 7.40% HousingDevelopment Finance Corporation Limited 2025	300.27 - 300.27 300.48 - 300.48
120 (March 31, 2023 - 120) units of Zero Coupon bond Housingand Development Board 2026	121.06 - 121.06 121.86 - 121.86
NIL (March 31, 2023 - 450) units of 7.28% HousingDevelopment Finance Corporation Limited 2024	- - - - 449.48 449.48
100 (March 31, 2023 - 100) units of 8.01% Kotak Mahindra Investment Limited 2025	100.11 - 100.11 100.18 - 100.18
35,00,000 (March 31, 2023 - NIL) units of 7.26% Government Securities 2033	350.07 - 350.07 - - -
500 (March 31, 2023 - NIL) units of 7.62% National Bank for Agriculture and Rural Development 2028	49.96 - 49.96 - - -
1,015,000 (March 31, 2023 - NIL) units of 7.62% CSSTRIP Government Securities 2027	76.98 - 76.98 - - -
2,000 (March 31, 2023 - NIL) units of 7.70% HDFC NCD 2028	200.21 - 200.21 - - -
50 (March 31, 2023 - NIL) units of 8.34% Sate Bank of India Perpetual bond 2034	501.66 - 501.66 - - -
	2,846.15 582.98 3,429.13 2,452.37 699.51 3,151.88
Corporate bonds classifed at amortised cost have interest rates of 5.63% to 9.25% and would mature in 1 to 10years.
Details of Investment in Government securities is as follows
3,000,000 (March 31, 2023 - NIL) units of 4.50% US TreasuryBill Bank of America	- 246.42 246.42 - - -
1,800,000 (March 31, 2023 - NIL) units of 4.50% US TreasuryBill Bank of America	- 147.70 147.70 - - -

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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8.1.3 Details of investment in mutual funds are as follows: (Contd.)

8.1.3 Details of investment in mutual funds are as follows:(Contd.)
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current	Current Total Non-Current Current Total
2,000,000 (March 31, 2023 - NIL) units of 4.50% US TreasuryBill Bank of America	-	162.86 162.86 - - -
3,000,000 (March 31, 2023 - NIL) units of 4.50% US TreasuryBill Bank of America	-	249.43 249.43 - - -
50,00,000 (March 31, 2023 - NIL) units of 4.50% US TreasuryNote Bank of America	426.03	- 426.03 - - -
NIL (March 31, 2023 - 30,00,000) units of 4.44% US TreasuryBill Bank of America	-	- - - 245.74 245.74
NIL (March 31, 2023 - 30,00,000) units of 4.3% US TreasuryBill Bank of America	-	- - - 240.91 240.91
NIL (March 31, 2023 - 45,00,000) units of 3.9% US TreasuryBill Bank of America	-	- - - 362.48 362.48
NIL (March 31, 2023 - 20,00,000) units of 4.5% US TreasuryBill Bank of America	-	- - - 167.51 167.51
	426.03	806.42 1,232.45 - 1,016.64 1,016.64
8.2 Trade receivables (See accounting policy in note3(C))
Particulars		As at March 31, 2024 As at March 31, 2023
Unsecured, consideredgood		1,131.37 985.16
Trade receivables which have signifcant increase in Credit Risk		- -
Less: Allowance for doubtful trade receivables		- -
Net trade receivables		1,131.37 985.16
Non-current		- -
Current		1,131.37 985.16
		1,131.37 985.16
The Company’s exposure to credit and currency risks, and loss allowances relating to trade receivables ar 8.2.1 The ageing schedule for trade receivables is as under:	e disclosed in Note 11.7.
Particulars	Not Due	Outstandingfor the following periods from the due date ofpayment
		Less than 6 months 6 months - 1year 1-2 years 2-3 years More than 3years Total
Undisputed trade receivables - consideredgood
March 31,2024	1,089.46	41.91 - - - - 1,131.37
March 31,2023	963.33	21.83 - - - - 985.16
Undisputed Trade Receivables - which have signifcant increase in credit risk
March 31,2024		- - - - - -
March 31,2023		- - - - - -

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Consolidated Financial Statement Standalone Financial Statement

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8.2.1 The ageing schedule for trade receivables is as under: (Contd.)

8.2.1 The ageing schedule for trade receivables is as under:(Contd.)
Particulars Not Due	Outstandingfor the following periods from the due date ofpayment
	Less than 6 months 6 months - 1year 1-2 years 2-3 years More than 3years Total
Undisputed Trade Receivables - credit impaired
March 31, 2024	- - - - - -
March 31, 2023	- - - - - -
Total
March 31, 2024 1,089.46	41.91 - - - - 1,131.37
March 31, 2023 963.33	21.83 - - - - 985.16

Note: There are no disputed trade receivables as of March 31, 2024 and March 31, 2023.

8.3 Cash and cash equivalents

8.3 Cash and cash equivalents
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Cash on hand	0.02	0.01
Balances with banks
- in current accounts (refer note below)	1,238.10	513.49
- in deposit accounts (with original maturityof 3 months or less)	410.52	20.31
Total	1,648.64	533.81

Note: The Cash and cash equivalents balance mentioned above includes an amount of ` 0.71 millions as at March 31, 2024, (March 31, 2023: 0.71 millions) held with ICICI Bank (Monitoring Agency account) as the IPO Public Issue Account.

8.4 Bank balances other than cash and cash equivalents

8.4 Bank balances other than cash and cash equivalents
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Bank deposits (with original maturityof more than 3 months but less than 12 months)	2,509.34	4,879.47
Total bank balance other than cash and cash equivalents	2,509.34	4,879.47

Note: The Bank Balances other than Cash and Cash Equivalents mentioned above includes an amount of ` 751.10 millions towards unutilized IPO proceeds as at March 31, 2024 having interest rates of 7% - 7.35%, (March 31, 2023: 2,479 millions having interest rates of 6.1% - 7.55%) held as the deposits with banks.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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8.5 Other financial assets

8.5 Other fnancial assets
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Unsecured, considered good
Interest accrued on bank deposits	0.37 109.60 109.97 2.48 110.40 112.88
Forward contract assets - measured at FVTPL	- - - - 5.10 5.10
Securitydeposits(Refer note 8.5.1)	34.40 - 34.40 30.25 30.00 60.25
Deposits with banks having remaining maturity of more than 3 months but less than 12 months (Refer note 8.5.2)	144.16 1,542.31 1,686.47 197.02 168.87 365.89
	178.93 1,651.91 1,830.84 229.75 314.37 544.12

8.5.1 Note: Represents security deposits being discounted at 6.1% to 6.6% having a term of 4 to 5 years.

8.5.2 Note: The Other Financial Assets mentioned above includes an amount of ` 729.00 millions towards unutilized IPO proceeds as at March 31, 2024 having interest rates of 7.30% - 7.55%, (March 31, 2023: NIL) held in the form of deposits with banks.

9. OTHER ASSETS

9. OTHER ASSETS
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Unsecured, considered good
Prepaid expenses	- 43.36 43.36 - 59.70 59.70
Other advances(includingadvances to vendors)	- 27.97 27.97 - 34.26 34.26
Advances to employees	- 7.05 7.05 - 6.89 6.89
Balances withgovernment authorities	20.17 - 20.17 52.99 - 52.99
	20.17 78.38 98.55 52.99 100.85 153.84

*As at March 31, 2024, the management has assessed the recoverability of the balances with government authorities and has written off an amount of ` 31.87 millions pertaining to GST Input credit availed on expenses incurred for the Initial Public Offering of the Company in 2021. The said amount has been adjusted with the securities premium.

10. EQUITY SHARE CAPITAL AND OTHER EQUITY

Number of shares are in absolute numbers.

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LatentView Analytics Annual Report 2023-2024

10. EQUITY SHARE CAPITAL AND OTHER EQUITY Number of shares are in absolute numbers.
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares Value No. of shares Value
Authorised
Equity shares of`1 each	30,00,00,000 300.00 30,00,00,000 300.00
Issued,subscribed andpaid up
Equityshares of`1 each fully paid up	20,59,03,951 205.90 20,49,01,506 204.90

Note: Pursuant to the resolution passed on Extraordinary General Meeting dated July 30, 2021, the authorised share capital of the Company has increased to ` 300 millions.

(All amounts are in millions of Indian Rupees, unless stated otherwise)

161

10.1 Reconciliation of share outstanding at the beginning and at the end of the reporting period

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10.1 Reconciliation of share outstanding at the beginning and at the end of the reporting period
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares Value No. of shares Value
At the beginningof theyear	20,49,01,506 204.90 20,04,21,998 200.42
Add:Exercise of share options	10,02,445 1.00 44,79,508 4.48
At the end of the year	20,59,03,951 205.90 20,49,01,506 204.90

10.1.1 Details of promoter’s holding

10.1.1 Details of promoter’s holding
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares % of equityshares % of change No. of shares % of equityshares % of change
Mr. A. V. Venkatraman	11,79,06,923 57.26% -0.28% 11,79,06,923 57.54% -1.29%
Ms. Pramadwathi Jandhyala	1,68,00,000 8.16% -0.04% 1,68,00,000 8.20% -0.18%
	13,47,06,923 65.42% -0.32% 13,47,06,923 65.74% -1.47%

10.1.1.1 During the year ended March 31, 2022, the Board of Directors and shareholders of the Holding Company at their meeting held on August 3, 2021, have approved capitalization of the free reserves of the Company for issuance of 20 bonus shares for every one fully paid equity shares, having face value of ` 1 per share.

of 20 bonus shares for every one fully paid equity shares, having face value of`1 per share.
Number of equityshares as of August 3, 2021	82,72,425
Number of equityshares with bonus shares (20 equityshares for everyone share held)	17,37,20,925

Except for the above, aggregate number of shares issued for consideration other than cash during the period of five years immediately preceding the reporting date is nil.

10.1.1.2 During the year ended March 31, 2022, the Company had completed its initial public offer (IPO) of 30,489,362 equity shares of face value of 1 each at an issue price of 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Company had received an amount of 4,466.78 millions (net off Company’s share of IPO Expenses 304.87 millions (retained in the Monitoring Agency Account to the extent unpaid) from the proceeds of the fresh issue. Out of the Company’s share of IPO Expenses 256.59 millions had been adjusted to securities premium and related GST of31.87 millions had been adjusted to securities premium.

10.1.2 Details of equity shares held by shareholders holding more than 5% of the aggregate equity shares in the Group

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Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares % No. of shares %
Equityshares of`1 each fully paid held by
Mr. A. V. Venkatraman	11,79,06,923 57.26% 11,79,06,923 57.54%
Ms. Pramadwathi Jandhyala	1,68,00,000 8.16% 1,68,00,000 8.20%
Mr. Ramesh Hariharan	74,38,081 3.61% 1,36,37,712 6.66%
Mr. Gopinath Koteeswaraan	1,00,37,514 4.87% 1,10,40,761 5.39%

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

10.1.3 Rights, preferences and restrictions attached to equity shares

The Company has a single class of equity shares. Accordingly, all equity shares rank equally with regard to dividends and share in the Company’s residual assets. The equity shares are entitled to receive dividend as declared from time to time subject to payment of dividend to preference shareholders. The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company. Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all the preferential amounts in proportion to the number of equity shares held.

10.1.4 Employee stock options

Under 2016 Employee stock option plan, the Company had an approved ESOP pool of 1,200,000, upon exercise convertible into fully paid-up equity shares of 1 each. This has been adjusted and increased to 25,200,000 ESOP’s, upon exercise convertible into fully paid-up equity shares of 1 each in the Company giving effect to the bonus issue of 20 ESOP for every 1 ESOP at their meeting held on August 3, 2021. During the year ended March 31, 2023, on October 29, 2022, the Company has granted 363,000 Employee Stock Options (ESOP) to eligible employees. During the year ended March 31, 2024, on May 18, 2023, the Company has granted 140,000 Employee Stock Options (ESOP) to eligible employees. The Terms attached to stock options granted to employees are described in Note 16 regarding employee share based payments.

10.2 Other equity

10.2 Other equity
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Reserves and surplus:
Securitiespremium (Refer note 10.2.1)	4,647.17	4,608.18
Employee share option reserve (Refer note 10.2.4)	65.57	49.90
General reserve (Refer note 10.2.2)	11.32	11.32
Special Economic Zone (SEZ) Re-investment Reserve (Refer note 10.2.7)	50.00	-
Retained earnings (Refer note 10.2.3)	8,453.82	6,922.87
Item of Other Comprehensive Income:
Foreign currencytranslation reserve (Refer note 10.2.5)	310.30	277.32
	13,538.18	11,869.59

Analysis of items of OCI, net of taxes Re-measurement defined benefit plans

Analysis of items of OCI, net of taxes Re-measurement defned beneft plans
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Openingbalance	-	-
Re-measurement of defned beneft liability/(asset) (Refer note 10.2.6)	(5.49)	(0.71)
Less:Transferred to retained earnings	5.49	0.71
Closingbalance	-	-

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10.2.1 Securities premium reserve is used to record the premium on issue of shares. The reserve is utilised in accordance with the provision of the Companies Act, 2013.

10.2.2 The general reserve is used from time to time to transfer profits from retained earnings for appropriation purposes. As the general reserve is created by a transfer from one component of equity to another and is not an item of other comprehensive income, items included in the general reserve will not be reclassified subsequently to statement of profit and loss.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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10.2.3 Retained earnings are the accumulated profits made by the Group till date

10.2.4 The Company has established various equity-settled share-based payment plans for certain categories of employees of the Company. Refer to note 16 for further details of these plans.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

10.2.5 Exchange differences in translating Financial Statements of foreign operations are the foreign currency translation differences.

10.2.6 Remeasurements of defined benefit (liability)/asset comprises actuarial gains and losses and return on plan assets (excluding interest income).

10.2.7 The Special Economic Zone (SEZ) Re-investment Reserve has been created out of the profit of eligible SEZ units in terms of the provisions of Sec 10AA(1)(ii) of Income-tax Act, 1961. The reserve should be utilized by the Company for acquiring new plant and machinery for the purpose of its business in the SEZ unit as per the terms of the Sec 10AA(2) of the Income-tax Act, 1961.

10.3 Capital management

The Company’s objective for capital management is to maximise shareholder value, safeguard business continuity and support the growth of the Company. The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment plans. The funding requirements are met through equity and operating cash flows generated. The Company is not subject to any externally imposed capital requirements. The Group monitors capital on the basis of the following gearing ratio: Adjusted net debt (Total liabilities net of cash and cash equivalents) divided by Total equity (as shown in the statement of assets and liabilities)

The Group’s adjusted net debt to equity ratio is as follows:

The Group’s adjusted net debt to equity ratio is as follows:
Particulars	As at		As at
	March 31, 2024	March 31, 2023
Total liabilities	814.67		556.06
Less:Cash and cash equivalents	(1,648.64)		(533.81)
Adjusted net debt (a)	(833.97)		22.25
Total equity(b)	13,744.08		12,074.49
Adjusted net debt to adjusted equityratio (a/b)	0.00		0.00

11. FINANCIAL LIABILITIES

11.1 Trade payables

11. FINANCIAL LIABILITIES 11.1 Trade payables
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Total outstandingdues of micro enterprises and small enterprises (refer Note 11.1.2) (MSME)	-	0.98
Total outstandingdues of creditors other than micro enterprises and small enterprises	99.52	37.11
	99.52	38.09

The Company’s exposure to currency and liquidity risk related to trade payable is disclosed in note 11.5.

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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11.1.1 The ageing schedule for trade payables is as under:

11.1.1 The ageing schedule for trade payables is as under:
Particulars	Outstandingfor following periods from the date of invoice
	Unbilled dues/ Accrued expenses Less than 1year 1-2 years 2-3 years More than 3years Total
Undisputed dues to:
March 31, 2024:
MSME	- - - - - -
Others	- 5.40 2.56 0.18 1.02 9.16
Unbilled dues/Accrued expenses	90.36 - - - - 90.36
Total	90.36 5.40 2.56 0.18 1.02 99.52
March 31, 2023:
MSME	- 0.98 - - - 0.98
Others	- 10.03 - 0.22 0.67 10.93
Unbilled dues/Accrued expenses	26.18 - - - - 26.18
Total	26.18 11.01 - 0.22 0.67 38.09
Note:There are no disputed payables as of March 31, 2024 and March 31, 2023. 11.1.2 Dues to micro enterprises and small enterprise: The Ministry of Micro, Small and Medium Enterprises has issued an offce memorandum dated August 29, 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after fling of the Memorandum in accordance with the Micro, Small and Medium Enterprise Development Act, 2006 (‘the Act’). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at March 31, 2024 and March 31, 2023 has been made in the Financial Statements based on information received and available with the Group. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Group has not received any claim for interest from any supplier as at the balance sheet date.
Particulars As at March 31, 2024 As at March 31, 2023
Principal amount due to the suppliers registered under MSMED Act and remainingunpaid as atyear end; - 0.98
Interest due to suppliers registered under MSMED Act and remainingunpaid as atyear end; - -
The amount of interest paid by the buyer in terms of Section 16 of the Micro, Small and Medium Enterprises Development Act, 2006, along with the amount of the payment made to the supplier beyond the appointed dayduringtheyear; - -
The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specifed under the Micro, Small and Medium Enterprises Development Act, 2006; - -
The amount of interest accrued and remainingunpaid at the end of each accounting year; and - -
The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under Section 23 of the Micro, Small and Medium Enterprises Development Act, 2006 Further due and remaining for the earlieryears. - -

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 29, 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the Micro, Small and Medium Enterprise Development Act, 2006 (‘the Act’). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at March 31, 2024 and March 31, 2023 has been made in the Financial Statements based on information received and available with the Group. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Group has not received any claim for interest from any supplier as at the balance sheet date.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

11.2 Borrowings

11.2 Borrowings
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Secured loans(at Amortised cost)
- Term loan From bank(refer note below)	2.40	3.29
	2.40	3.29
Non-current	2.40	3.29
Current	-	-
	2.40	3.29

Note:

LatentView Analytics UK Ltd borrowed a sum of GBP 50,000 from HSBC in May 2020 and is payable in 59 monthly installments beginning June 2021, at an interest rate of 2.5%

11.3 Lease liabilities

11.3 Lease liabilities
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Current lease liabilities	49.48	61.55
Non-current lease liabilities	188.04	149.77
Total	237.52	211.32
Maturityanalysis - contractual undiscounted cash fows
Not later than oneyear	68.03	61.55
Later than oneyear and not later than fveyears	216.02	196.94
More than fveyears	-	-
Total undiscounted lease liabilities	284.05	258.49

Amounts recognised in statement of profit or loss

Amounts recognised in statement of proft or loss
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Interest on lease liabilities	21.96	19.76
Amortisation of right of use assets	46.96	45.79
Expenses relatingto short-term leases	21.14	41.26
Total expenses	90.06	106.81

Amounts recognized in the statement of cash flows

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LatentView Analytics Annual Report 2023-2024

Amounts recognized in the statement of cash fows
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Total cash outfow towards leasepayments(excludingshort-term leases)	65.94	63.90

The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rental expense recorded for short-term leases was 21.14 millions for the year ended March 31, 2024 (March 31, 2023 - 41.26 millions).

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

11.3.1 Reconciliation of movements of liabilities to cashflows arising from financing activities:

Particulars	Equity Liabilities Total Equity share capital Share application money pendingallotment Securities premium Borrowings Lease liability
Balance as at April 1, 2023	204.90 0.00 4,608.18 3.29 211.32 5,027.69
Changes from fnancingcash fows
Proceeds from exercise of share options	1.00 - - - 1.00
Share options exercised (refer note 16)	- - 53.89 - - 53.89
Payment of lease liabilities	- - - - (65.94) (65.94)
Total changes from fnancingcash fows	1.00 - 53.89 - (65.94) (11.04)
Other changes
Interest expense	- - - - 21.96 21.96
Share options exercised (refer note 16)	- - 16.97 - - 16.97
Sharepremium on IPO	- - (31.87) - - (31.87)
Other changes	- - - - 69.80 69.80
Effects of exchange differences	- - - (0.89) 0.37 (0.52)
Total other changes	- - (14.90) (0.89) 92.13 76.34
Balance as at March 31, 2024	205.90 0.00 4,647.17 2.40 237.52 5,092.99
Balance as at April 1, 2022	200.42 0.00 4,523.01 4.20 256.10 4,983.73
Changes from fnancingcash fows
Proceeds from issue of equityshares	4.48 - 65.09 - - 69.57
Payment of lease liabilities	- - - - (44.09) (44.09)
Finance costspaid	- - - - (19.81) (19.81)
Share issue expenses	- - - - - (46.30)
Total changes from fnancingcash fows	4.48 - 65.09 - (63.90) (40.63)
Other changes
Interest expense	- - - - 19.81 19.81
Share options exercised (refer note 16)	- - 20.08 - - 20.08
Effects of exchange differences	- - - (0.91) (0.69) (1.60)
Total other changes	- - 20.08 (0.91) 19.12 38.29
Balance as at March 31, 2023	204.90 0.00 4,608.18 3.29 211.32 4,981.39

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

167

11.4 Other financial liabilities

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

11.4 Other fnancial liabilities
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Forward Contract Liabilities	3.07	-
Dues to capital creditors - other dues*	23.49	-
	26.56	-

*There are no dues with respect to payment to micro enterprises and small enterprises.

11.5 Fair value measurement of financial instruments by category and hierarchy

The following table shows the carrying values of financial assets and financial liabilities, including their levels in the fair value hierarchy.

Particulars	Amortised	Fair value through	Fair value	Total carrying
	cost	proft or loss	through OCI	value
March 31, 2024:
Financial assets measured at fair value
Investments	-	1,994.95	-	1,994.95
Forward contract assets	-	-	-	-
Financial assets not measured at fair value
Investments	4,762.64	-	-	4,762.64
Bank deposits	1,686.47	-	-	1,686.47
Other fnancial assets	144.37	-	-	144.37
Trade receivables	1,131.37	-	-	1,131.37
Cash and cash equivalents	1,648.64	-	-	1,648.64
Other bank balances	2,509.34	-	-	2,509.34
	11,882.83	1,994.95	-	13,877.78
Liabilities:
Tradepayables	99.52	-	-	99.52
Lease liabilities	237.52	-	-	237.52
Borrowings	2.40	-	-	2.40
Dues to capital creditors - other dues	23.49			23.49
Forward Contract Liabilities		3.07		3.07
	362.93	3.07	-	366.00
March 31, 2023:
Financial assets measured at fair value
Investments	-	767.88	-	767.88
Forward Contract assets	-	5.10	-	5.10

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

11.5 Fair value measurement of financial instruments by category and hierarchy (Contd.)

The following table shows the carrying values of financial assets and financial liabilities, including their levels in the fair value hierarchy.

11.5 Fair value measurement of fnancial instruments by category and The following table shows the carrying values of fnancial assets and fnancial liabilities, including	hierarchy(Contd.) their levels in the fair value hierarchy.
Particulars	Amortised	Fair value through	Fair value	Total carrying
	cost	proft or loss	through OCI	value
Financial assets not measured at fair value
Investments	4,168.52	-	-	4,168.52
Bank deposits	365.89	-	-	365.89
Other fnancial assets	173.13	-	-	173.13
Trade receivables	985.16	-	-	985.16
Cash and cash equivalents	533.81	-	-	533.81
Other bank balances	4,879.47	-	-	4,879.47
Currentportion of non-current investments	70.85	-	-	70.85
	11,176.83	772.98	-	11,949.81
Liabilities:
Tradepayables	38.09	-	-	38.09
Lease liabilities	211.32	-	-	211.32
Borrowings	3.29	-	-	3.29
Other fnancial liabilities	-	-	-	-
	252.70	-	-	252.70

The Group has not disclosed fair values of financial instruments such as trade receivables, investments in government bonds, cash and cash equivalents, bank balances other than cash and cash equivalents, other financial assets, trade payables and other financial liabilities, since their carrying amounts are reasonable approximates of fair values.

Fair value hierarchy

Level l - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level I that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e.derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table shows the levels in the fair value hierarchy as at each period:

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LatentView Analytics Annual Report 2023-2024

The following table shows the levels in the fair value hierarchy as at each period:
Particulars	As at March 31, 2024 As at March 31, 2023
	Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Assets
Investments - measured at fair value	1,719.12 275.83 - 511.73 256.15 -
Investments - measured at amortised cost	4,762.64 - - 4,168.52 - -
Forward Contract assets	- - - 5.10 - -
Liabilities
Forward Contract Liabilities	3.07 - - - - -

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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11.6 Measurement of fair values

Valuation techniques and significant unobservable inputs

Financial instruments measured at fair value:

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

Financial instruments measured at fair value:
Type	Valuation technique
Forward exchange contracts	The fair value is determined using quoted forward exchange rates at the reportingdate.
Investments measured at fair value	The valuation is done based on Yield to Maturityof the Poolingmutual funds. An adjustment of 0.05% is done to the Yield to maturityon a conservative basis.

11.7 Financial risk management

The Group has exposure to the following risks arising from financial instruments:

Credit risk (see 11.7.2);
Liquidity risk (see 11.7.3);
Market risk (see 11.7.4).

11.7.1 Risk management framework

The Group’s Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. The Board of Directors is responsible for developing and monitoring the Group’s risk management policies.

The Group’s risk management policies are established to identify and analyse the risks faced by the Group, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Group’s activities. The Group, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

11.7.2 Credit risk

Credit risk is the risk of financial loss to the group if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the group’s trade receivables, cash and cash equivalents, bank balance other than cash and cash equivalents and security deposits and other financial assets.

The Company’s exposure to credit risk for trade receivables by geographic region is as follows:

The Company’s exposure to credit risk for trade receivables by geographic region is as follows:
Particulars	March 31,2024 March 31,2023
	Trade receivables Contract asset Trade receivables Contract asset
India	61.68 - 35.68 4.90
USA	1,032.39 127.47 907.20 50.73
Netherlands	14.28 10.67 42.28 3.22
United Kingdom	12.10 0.36 - -
Singapore	10.92 - - -
	1,131.37 138.50 985.16 58.86

The carrying amount of financial assets represents the maximum credit exposure which is as follows:

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LatentView Analytics Annual Report 2023-2024

The carrying amount of fnancial assets represents the maximum credit exposure which is as follows:
Particulars	March 31,2024	March 31,2023
Investments	6,757.59	5,007.25
Trade receivables	1,131.37	985.16
Contract assets	138.50	58.86

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Trade receivables and unbilled revenue

Exposures to customers outstanding at the end of each reporting period are reviewed by the Group to determine incurred and expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant credit losses. Given that the macro economic indicators affecting customers of the Group have not undergone any substantial change, the Group expects the historical trend of minimal credit losses to continue. Further, management believes that the unimpaired amounts are still collectible in full, based on historical payment behavior and analysis of customer credit risk.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

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Cash and bank balances and other financial assets

Cash and bank balances comprises of deposits with bank and interest accrued on such deposits. These deposits are held with credit worthy banks. The credit worthiness of such banks are evaluated by the management on an ongoing basis and is considered to be good with low credit risk.

Majority of investments of the Group are fair valued based on Level 1 or Level 2 inputs. These investments primarily include investment in liquid mutual fund units, certificates of deposit and quoted bonds issued by government and quasigovernment organizations. The Group invests after considering counterparty risks based on multiple criteria including Tier I Capital, Capital Adequacy Ratio, Credit Rating, Profitability, NPA levels and deposit base of banks and financial institutions. These risks are monitored regularly as per its risk management program.

Other financial assets primarily constitute of security deposits. The Group does not expect any losses from non-performance by these counter parties.

The Group limits its exposure to credit risk by investing in debt securities and minimum investment being made in equity instruments. The credit worthiness of the counterparties of the investments made are evaluated by the management on an ongoing basis and is considered to be good with low credit risk.

Financial instruments - Fair values and risk management

Credit risk

Expected credit loss (ECL) measurement for the trade receivables of the group

Ageing period	Average loss rate
	March 31, 2024 March 31, 2023
Not due	0.01% 0.02%
0-90 days	0.01% 0.02%
90-180 days	0.04% 0.10%

As per management analysis majority of the receivables of the Company either not due or aged between 0-90 days bucket and Contracts assets are all aged less than 90 days. Accordingly, the Group does not carry any provisions as at the year ended March 31, 2024, and March 31, 2023.

11.7.3 Liquidity risk

Liquidity risk is the risk that the group will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The group’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the group’s reputation.

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LatentView Analytics Annual Report 2023-2024

Cash flow from operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.

The group regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-going basis to meet operational needs. Any short term surplus cash generated, over and above the amount required for working capital management and other operational requirements, is retained as cash and cash equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other highly marketable debt investments with appropriate maturities to optimise the cash returns on investments while ensuring sufficient liquidity to meet its liabilities.

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Contractual cash flows

Contractual cash fows
Particulars	March 31, 2024 March 31, 2023
	Carrying amount Total Payable within 1year More than 1year Carrying amount Total Payable within 1year More than 1year
Tradepayables	99.52 99.52 99.52 - 38.09 38.09 38.09 -
Borrowing	2.40 2.46 - 2.46 3.29 3.37 - 3.37
Lease liability*	237.52 284.05 68.03 216.02 211.32 258.49 61.55 196.94
Other fnancial liabilities	26.56 26.56 26.56 - - - - -
Balance at the end of theyear	366.00 412.59 194.11 218.48 252.70 299.96 99.64 200.32

*Contractual cash flows have been presented without giving effect to adjustment of effective interest rate.

11.7.4 Market risk

Market risk is the risk that changes in market prices - such as foreign exchange rates and interest rates - will affect the Group’s income or the value of its holdings of financial instruments. The objective of market risk management is to manage and control market risk exposures within acceptable parameters, while optimising the return. The Group does not have any external transactions in foreign currency, hence there is no currency risk. Investments of the Group are fair valued based on Level 1 or Level 2 inputs. These investments primarily include investment in liquid mutual fund units, treasury bills, government securities and quoted bonds. The Group invests after considering counterparty risks based on multiple criteria including Tier I capital, capital adequacy ratio, credit rating, profitability, NPA levels and deposit base of banks and financial institutions. These risks are monitored regularly as per the Group’s risk management program. With respect to borrowings the impact of the market risk on the interest rate is not significant. With respect to the forward contracts outstanding, the impact of market risk is not significant.

12. PROVISIONS

(See accounting policy in note 3(G))

12. PROVISIONS (See accounting policy in note 3(G))
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Compensated absences	63.73 33.97 97.70 45.30 23.75 69.05
Gratuity	30.19 - 30.19 18.13 - 18.13
	93.92 33.97 127.89 63.43 23.75 87.18

12.1 Disclosures relating to defined benefit plan - gratuity

The Company has a defined benefit gratuity plan in India, governed by the Payment of Gratuity Act, 1972. The plan entitles an employee, who has rendered at least five years of continuous service, to gratuity at the rate of fifteen days wages for every completed year of service or part thereof in excess of six months, based on the rate of wages last drawn by the employee concerned.

These defined benefit plans expose the Company to actuarial risks, such as longevity risk, interest rate risk and market (investment) risk.

A. Funding

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Plan is funded by the Company with LIC. The funding requirements are based on the gratuity fund’s actuarial measurement framework set out in the funding policies of the plan. The funding of Plan is based on a separate actuarial valuation for funding purposes for which the assumptions may differ from the assumptions set out in 12.1.9. Employees do not contribute to the plan.

B. Reconciliation of the net defined benefit (asset) liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit (asset) liability and its components.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

12.1.1 The status of net defined benefit obligation is as under:

12.1.1 The status of net defned beneft obligation is as under:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Present value of defned beneft obligation	91.49	62.60
Fair value ofplan assets	(61.30)	(44.47)
Net defned beneft liability	30.19	18.13

12.1.2 The classification of net defined benefit obligation as of year end is as under:

12.1.2 The classifcation of net defned beneft obligation as of year end is as under:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Current	-	-
Non-current	30.19	18.13
Net defned beneft obligation	30.19	18.13

12.1.3 Reconciliation of present value of defined benefit obligation:

12.1.3 Reconciliation of present value of defned beneft obligation:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Defned beneft obligation at the beginningof theyear	62.60	45.95
Current service cost	20.68	15.35
Past service cost	-	-
Interest on defned beneft obligation	4.21	2.72
Beneftspaid	(4.20)	(2.91)
Re-measurement loss/(gain):	-	-
- Actuarial loss/(gain)arisingfrom fnancial assumptions	0.56	(1.56)
- Actuarial loss/(gain)arisingfrom demographic assumptions	8.66	-
- Actuarial loss/(gain)arisingfrom experience adjustments	(1.00)	3.05
Defned beneft obligation at the end of theyear	91.49	62.60
12.1.4 Reconciliation of the present value of plan assets:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Fair value ofplan assets at the beginningof theyear	44.47	33.01
Interest income	3.10	2.08
Contributionspaid into theplan	17.47	11.79
Beneftspaid	(4.20)	(2.91)
Re-measurementgain	-	-
- Return onplan assets excludinginterest income	0.47	0.50
Fair value ofplan assets at the end of theyear	61.30	44.47

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

12.1.5 Amounts recognised in the Statement of profit and loss in respect of defined benefit plan is as below:

12.1.5 Amounts recognised in the Statement of proft and loss in respect of defned beneft plan is as below:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Current service cost	20.68	15.35
Past service cost	-	-
Interest cost	4.21	2.72
Interest income	(3.10)	(2.08)
Netgratuitycost	21.79	15.99
12.1.6 Defned beneft plan actuarial gains/(losses) recognized in other comprehensive income represents the following:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Return onplan assets excludinginterest income	(0.47)	(0.50)
Actuarial loss/(gain) arisingfrom fnancial assumptions	0.56	(1.55)
Actuarial loss/(gain) arisingfrom demographic assumptions	8.66	-
Actuarial loss/(gain) arisingfrom experience adjustments	(1.00)	3.05
Total amount recognised in other comprehensive income	7.74	1.00

12.1.9 Principal assumptions used for the purpose of actuarial valuation-Gratuity:

12.1.9 Principal assumptions used for the purpose of actuarial valuation-Gratuity:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Discount rate	7.20%	7.30%
Expected rate of salaryincrease	15.00%	15.00%
Attrition rate	20.00%	25.00%
Expected contributionpayable	10.00	6.00
Weighted average duration	6.19	4.92
Mortality rates	Indian Assured	Lives
	Mortality(2012-14)	Ult table
Estimated rate of return onplan assets	7.67%	7.01%

12.1.10 Notes on the principal assumptions:

The discount rate is based on the prevailing market yields of Indian Government securities as at the balance sheet date for the estimated term of the obligations.

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The estimates of future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors, such as supply and demand factors in the employment market.
The Group provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. In respect of other employees, gratuity is arrived at based on last drawn basic salary of 15 days for every completed year of service, on completion of 4 years and 240 days of continuous service.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Notice to the AGM

12.1.11 Sensitivity analysis

Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defined benefit obligation by the amounts shown below:

12.1.11 Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defned beneft obligation by the amounts shown below:	12.1.11 Sensitivity analysis Reasonably possible changes at the reporting date to one of the relevant actuarial assumptions, holding other assumptions constant, would have affected the defned beneft obligation by the amounts shown below:
Particulars March 31, 2024 March 31, 2023
Discount rate
- Increase of 0.5% -3.01%	-2.41%
- Decrease of 0.5% 3.18%	2.51%
Salaryescalation rate
- Increase of 0.5% 2.45%	2.02%
- Decrease of 0.5% -2.40%	-1.98%

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

If the discount rate increases/decreases by 0.50%, the defined benefit obligations would increase/(decrease) as follows:

If the discount rate increases/decreases by 0.50%, the defned beneft obligations would increase/(decrease) as follows:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Increase of 0.50%	-2.73	-1.51
Decrease of 0.50%	2.87	1.56
If the expected salary growth increases/decreases by 0.50%, the defned beneft obligations would increase/(decrease) as follows:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Increase of 0.50%	2.21	1.25
Decrease of 0.50%	-2.18	-1.25

12.2 Compensated absence liability

The Company’s net obligation in respect of Compensated absences (pertains to its subsidiary- LatentView Analytics Corporation) is the amount of future benefit that employees have earned in return for their service in the current and prior periods; that benefit is discounted to determine its present value. The obligation is measured on the basis of an annual independent actuarial valuation using the projected unit credit method.

12.2.1 Principal assumptions used for the purpose of actuarial valuation are as follows - Compensated absences

12.2.1 Principal assumptions used for the purpose of actuarial valuation are as follows - Compensated absences
Particulars	March 31, 2024	March 31, 2023
Discount rate	5.06%	4.63%
Expected rate of salaryincrease	5.00%	4.34%
Attrition rate	15.00%	20.00%

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

175

13. OTHER CURRENT LIABILITIES

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13. OTHER CURRENT LIABILITIES
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Dues to statutoryauthorities	47.77	44.69
Advances from Customer	9.12	9.11
Employee beneftspayable	68.52	10.27
	125.41	64.07

14. CONTRACT LIABILITIES

14. CONTRACT LIABILITIES
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Contract liabilities (Refer note 17)	166.06	134.63
	166.06	134.63

15. RELATED PARTY INFORMATION

15.1 List of related parties and the nature of relationship

Name of the relatedparty	Nature of relationship
LatentView Analytics Pte. Ltd., Singapore	Wholly- owned subsidiary
LatentView Analytics Corporation, USA	Wholly- owned subsidiary
LatentView Analytics UK limited, United Kingdom	Wholly- owned subsidiary
LatentView Analytics B.V. Netherlands	Wholly- owned subsidiary
LatentView Analytics GmbH, Germany	Stepdown Subsidiary
A.V. Venkatraman	Chairperson and Whole-Time Director
Pramadwathi Jandhyala	Whole-Time Director
Rajan Sethuraman	Chief Executive Offcer
Rajan Bala Venkatesan	Chief Financial Offcer
Srinivasan P	CompanySecretary
Dipali Hemant Sheth	Independent Director
R.Raghuttama Rao	Independent Director
Mukesh Hari Butani	Independent Director
Reed Allen Cundiff	Independent Director

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

176

15.2 Transactions with Key Management Personnel and Independent Directors

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Consolidated Financial Statement Standalone Financial Statement

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15.2 Transactions with Key Management Personnel and Independent Directors
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Remuneration to KeyManagement Personnel
Salaryfor theyear
A.V. Venkatraman	12.00	12.00
Pramadwathi Jandhyala	12.00	12.00
Rajan Sethuraman	20.35	12.00
Rajan Bala Venkatesan	7.34	6.00
Srinivasan P	2.45	1.73
Sittingfees for Independent Directors*
Dipali Hemant Sheth	1.05	1.80
R.Raghuttama Rao	1.15	2.00
Mukesh Hari Butani	0.95	1.75
Reed Allen Cundiff	1.15	1.80
Commission for Independent Directors*
Dipali Hemant Sheth	2.95	1.10
R.Raghuttama Rao	3.00	1.10
Mukesh Hari Butani	2.95	1.10
Reed Allen Cundiff	3.00	1.10
*Sittingfee of 0.9 millions and Commission of 6.30 millions ispayable as on March 31,2024(Refer Note 15.3)
Keymanagementpersonnel Defned Beneft Obligation(DBO)w.r.t. Gratuity
A.V. Venkatraman	1.64	1.68
Pramadwathi Jandhyala	1.54	1.58
Rajan Sethuraman	1.60	1.57
Rajan Bala Venkatesan	0.44	0.20
Srinivasan P	0.09	0.02

Refer Note 16 on Share based payments to key managerial personnel.

15.3 Payable to Independent Directors

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LatentView Analytics Annual Report 2023-2024

15.3 Payable to Independent Directors
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Sittingfees for Independent directors
Dipali Hemant Sheth	0.25		-
R.Raghuttama Rao	0.25		-
Mukesh Hari Butani	0.20		-
Reed Allen Cundiff	0.20		-

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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15.3 Payable to Independent Directors (Contd.)

15.3 Payable to Independent Directors(Contd.)
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Commission for Independent Directors
Dipali Hemant Sheth	1.55	-
R.Raghuttama Rao	1.60	-
Mukesh Hari Butani	1.55	-
Reed Allen Cundiff	1.60	-

16. SHARE BASED PAYMENTS

(See accounting policy in note 3(G))

16.1 Description of share-based payment arrangements

As at March 31, 2024, the Group has the following stock option plans for employees.

2016 Employee stock option plan (hereinafter referred as “the Plan”)

This plan was approved by the Board of Directors and Shareholders on April 1, 2016. The plan entitles senior employees to purchase shares in the Company at the stipulated exercise price, subject to compliance with vesting conditions; all exercised options shall be settled by issue of equity shares of the Company. As per the plan, holders of vested options are entitled to purchase one equity share for every option at an exercise price of ` 132 to 843/- or the fair value of shares at the time of grant of option as may be determined by a valuer appointed by the Nomination and Remuneration Committee or the Board. The fair value is determined using black scholes model.

Employee entitled	Number	Number of	Grant date	Vesting period ends on	Contractual life
	of options	options that shall			of the options
	outstanding	vestperyear			asper theplan
Employees who have been in employment of the Company or subsidiary Company of the Group	1,80,000	Graded vesting	April 8, 2016	April 8, 2017	1-10 years
before October 31, 2013 and identifed as such by the Nomination and Remuneration Committee in
consultation with the Board
Employees who have been in employment of the Company or subsidiary Company, identifed based	14,11,179	Graded vesting	October 11, 2021	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date
Key Management Personnel	31,500	Graded vesting	October 11, 2021	Uniform vesting of 25% over 4 years falling	1-10 years
				on each anniversary postgrant date
Employees who have been in employment of the Company or subsidiary Company, identifed based	2,12,400	Graded vesting	October 29, 2022	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date
Key Management Personnel	93,000	Graded vesting	October 29, 2022	Uniform vesting of 25% over 4 years falling	1-10 years
				on each anniversary postgrant date
Employees who have been in employment of the Company or subsidiary Company, identifed based	1,40,000	Graded vesting	May 18, 2023	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date

The Company has granted 140,000 @ face value of 1 options during the current year ended March 31, 2024 (March 31, 2023: 363,000 @ face value 1).

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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The general terms and conditions related to the grant of all the above share options are as follows:

a) The scheme would be administered and supervised by a committee appointed by the board called “Nomination and Remuneration Committee”.
b) Right to exercise is only upon receipt of exercise notice from the Nomination and Remuneration Committee.
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c) Options are not transferable. On resignation, options already vested to the employee as at the date of resignation can be exercised in accordance with the plan.

16.2 Measurement of fair values

The estimated grant-date fair value of stock options granted under 2016 plan is 22.47 to 30.34, 309.26 to 313.07, 74.57, 38.83 to 50.70, 71.81 to 87.72 for the grants made on April 8, 2016, July 20, 2017, November 20, 2020, October 11, 2021, October 29, 2022 respectively. For the grant during the current year dated May 18, 2023 the fair values of ESOP is 91.16/-. The fair values are measured based on the Black-Scholes-Merton formula.

The fair value of the options granted during the period ended March 31, 2024 and the inputs used in the measurement of the grant-date fair values of the equity-settled share based payment plans are as follows:

Particulars	March 31, 2024	March 31, 2023
Shareprice atgrant date	324.89	390.00
Exerciseprice	324.00	359.00
Expected volatility	18.15%	18.15%
Expected dividends	-	-
Expected tenure inyears	1. 5 to 2.25	1. 5 to 2.25
Risk-free interest rate(based ongovernment bonds)	6.00%	6.00%

3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

16.3 Movement in stock based compensation obligations

Reconciliation of outstanding share options

16.3 Movement in stock based compensation obligations Reconciliation of outstanding share options
Particulars	March 31,2024 March 31,2023
	Number of options Weighted average price(`)<br>Number of<br>options<br>Weighted average<br>price(`)
Options outstandingat the beginningof theyear	30,40,617 187.66 75,19,125 45.74
Granted duringtheyear	1,40,000 324.00 3,63,000 359.00
Exercised duringtheyear	(10,02,445) 70.04 (44,79,508) 27.42
Lapsed duringtheyear	(1,10,093) 196.55 (3,62,000) 76.00
Outstandingat the end of theyear	20,68,079 234.77 30,40,617 187.66
Exercisable at the end of theyear	6,42,329 205.63 10,11,367 51.82

Note:

For the year ended March 2024

Of the total 1,002,445 ESOP units exercised during the year carrying face value of 1 each, 640,000 equity shares were issued at a premium of 39.14 per share, 356,595 equity shares were issued at a premium of 75 per share, and 5,850 equity shares were issued at a premium of 358 each, were allotted during the current Financial Year and the proceeds were recognised towards Share capital and Securities Premium respectively.

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For the year ended March 2023

Of the total 4,479,508 ESOP units exercised during the year carrying face value of 1 each, 3,685,125 equity shares were issued at a premium of 5.29 per share, 390,000 equity shares were issued at a premium of 39.14 per share, and 404,383 equity shares were issued at a premium of 75 each, were allotted during the current Financial Year and the proceeds were recognised towards Share capital and Securities Premium respectively.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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16.4 Expense recognised in statement of profit and loss

The total expense recognised in the statement of P&L is ` 32.64 millions, (March 31, 2023: 39.68 millions) in respect of share options issued to the employees of the Company’s subsidiaries.

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17. REVENUE FROM OPERATIONS

17. REVENUE FROM OPERATIONS
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Revenue from contracts with customers	6,406.83	5,387.62
	6,406.83	5,387.62

The Group generates revenue primarily from providing services with respect to data analytics, technological activities and facilitates the development of models and applications for use by customers.

17.1 Reconciliation of revenue recognised in the statement of profit and loss with the contracted price

17.1 Reconciliation of revenue recognised in the statement of proft and loss with the contracted price
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Revenue asper contractprice	6,420.91	5,398.94
Less:Adjustments to contractprice	(14.08)	(11.32)
	6,406.83	5,387.62

Adjustment to contract price includes consideration paid to customers and cash discount given to customers on prompt payment.

17.1.1 Timing of revenue recognition

17.1.1 Timing of revenue recognition
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Services transferred over time	6,406.83	5,387.62

17.2 Revenue segment information

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LatentView Analytics Annual Report 2023-2024

17.2 Revenue segment information
Particulars	Year ended		Year ended
	March 31, 2024	March 31, 2023
India	281.06		154.84
Outside India:
- United States of America	5,973.21		5,081.74
- Netherlands	86.82		111.91
- United Kingdom	16.98		39.13
- Singapore	48.76		-
	6,406.83		5,387.62

Revenue from top five customers are 3,981.69 millions (62.15%) and 3,067.21 millions (56.93%) of the Group’s total revenue for the year ended March 31, 2024 and March 31, 2023.

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

17.3 The movement in contract assets is as under

The Group classifies its right to consideration in exchange for deliverables as contract assets. Contract assets are recorded when services have been provided and the group has a conditional right to receive consideration.

Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Openingbalance	58.86	16.10
Revenue recognised duringtheyear but not billed	138.50	58.86
Amounts billed	(58.86)	(16.10)
Amounts written off	-	-
Closingbalance	138.50	58.86

17.4 The movement in contract liabilities is as under

Contract liabilities comprise amounts billed to customers for revenues not yet earned. Such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods.

Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Openingbalance	134.63	71.19
Amounts billed but notyet recognized as revenues	166.06	134.63
Revenues recognized related to the openingbalance of deferred revenue	(134.63)	(71.19)
Closingbalance	166.06	134.63

18. OTHER INCOME

18. OTHER INCOME
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Interest income on fnancial assets	603.70	425.14
Netgain on foreign currencytransactions	47.76	51.44
Gain on sale of investments (net)	8.48	15.10
Interest income on securitydeposits	0.82	1.64
Financial assets measured at FVTPL - net change in fair value	73.24	18.21
ScrapSale	3.02	-
Sale of dutyscript (Service Export Incentive from India Scheme)	-	46.13
	737.02	557.66

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19. EMPLOYEE BENEFIT EXPENSE

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19. EMPLOYEE BENEFIT EXPENSE
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Salaries, wages and bonus	3,844.19	2,983.30
Contribution toprovident and other funds	416.15	305.49
Share basedpayments
- Equitysettled	32.64	39.68
Staff welfare expenses	45.94	32.89
	4,338.92	3,361.36

20. FINANCE COST

20. FINANCE COST
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Interest expense on lease liabilities	21.96	19.76
Amortisation ofpremium/(discount) on non-current investments	8.51	6.63
	30.47	26.39

3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

21. DEPRECIATION AND AMORTISATION

21. DEPRECIATION AND AMORTISATION
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Depreciation ofpropertyand equipment (refer note 4)	49.54	42.33
Depreciation on right of use assets (refer note 5)	46.96	45.79
Amortisation of intangible assets (refer note 6)	0.11	0.03
	96.61	88.15

22. OTHER EXPENSES

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22. OTHER EXPENSES
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Power and fuel	4.94		4.79
Rent	21.14		41.26
Repairs and maintenance towards:
- Others	5.23		7.21
Insurance	11.43		11.51

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22. OTHER EXPENSES (Contd.)

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22. OTHER EXPENSES(Contd.)
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Rates and taxes	4.09	4.08
Travel and conveyance (net of reimbursements)	123.85	107.08
Legal andprofessional charges	117.43	79.05
Payment to auditors (refer note 22.1 below)	7.50	7.19
Sub-contractingexpenses	33.97	35.78
Communication expenses	5.31	4.93
Director's sittingfees	16.20	7.35
Printingand stationery	0.69	0.39
Subscription and hostingcharges	96.16	48.91
Software license expenses	2.48	6.90
Securitycharges	2.83	2.43
Advertisement and salespromotion expenses	173.49	129.34
Recruitment and training	47.25	50.31
Postage and courier charges	1.39	1.39
Expenditure towards corporate social responsibility	22.26	16.33
Bank charges	2.59	1.11
Miscellaneous expenses	7.37	8.40
	707.60	575.74

22.1 Payments to auditors

22.1 Payments to auditors
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Auditors remuneration towards:
- Statutoryaudit	6.20	6.20
- Other services	1.10	0.80
- Out ofpocket expenses	0.20	0.19
	7.50	7.19

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23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE

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23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE	23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE
Particulars		Year ended	Year ended
		March 31, 2024	March 31, 2023
Details of corporate social responsibilityexpenditure
(a)	Amount required to be spent bythe Companyduringtheyear	22.03	15.82
(b)	Amount spent duringtheyear
	(i) Construction/acquisition of anyasset	-	-
	(ii) Onpurposes other than (i) above	22.26	16.33
(c)	Shortfall at the end of theyear	-	-
(d)	Total ofpreviousyears shortfall	-	-
(e)	Reason for shortfall	Not Applicable	Not Applicable
(f)	Nature of CSR activities	Primary focus is Education and livelihood and
		Secondaryfocus is Environmental Sustainability.
(g)	Details of relatedpartytransactions in relation to CSR expenditure asper relevant AccountingStandard	Not Applicable	Not Applicable

The Company has Primary focus is Education and livelihood and Secondary focus is Environmental Sustainability. The expenditure incurred during the year has been approved by the Board of Directors.

24. SEGMENT INFORMATION

a) Operating Segments

The Company is principally engaged in a single business segment viz., develop and deploy result-oriented analytics solutions to its customers. Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. The Chief Executive Officer (CEO) of the Company has been identified as the chief operating decision maker who assesses the financial performance and position of the Company, and makes strategic decisions.

b) Geographic Information

Segment Revenue: Revenues are attributable to individual geography based upon the location of the customers.

b) Geographic Information Segment Revenue:Revenues are attributable to individual geography based upon the location of the customers.
Particulars	Segment Revenue
	March 31, 2024 March 31, 2023
India	281.06 154.84
United states	5,973.21 5,081.74
Singapore	48.76 -
Netherlands	86.82 111.91
United kingdom	16.98 39.13
Total	6,406.83 5,387.62

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

Segment non-current assets:

Segment non-current assets:
Particulars	Segment Non-current assets
	March 31, 2024 March 31, 2023
India	286.44 267.62
United states	67.91 60.66
Netherlands	0.58 1.13
United kingdom	1.11 0.82
Total	356.04 330.24

Segment accounting policies

The accounting principles consistently used in the preparation of the Financial Statements and applied to record revenue and expenditure in individual segments are as set out in Note 3 to this schedule on material accounting policies. The description of segment assets and the accounting policies in relation to segment accounting are as under:

(i) Non-current assets

Segment non-current assets (other than financial instruments and deferred tax assets) include all operating assets used by a geography and consist primarily of right of use asset, property, plant and equipment, other non-current assets.

(ii) Revenue

Segment revenues are directly attributable to the segment and have been allocated to various segments on the basis of specific identification. However, segment revenues do not include interest and other income in respect of non segmental activities and have remained unallocated.

Revenue in the geographical information considered for disclosures are as follows:

Revenue within India include rendering of services in India to customers located within India; and revenues outside India include rendering of services outside India to customers located outside India.

25. EARNING PER SHARE

Basic and diluted earnings per share

The calculation of profits attributable to equity shareholders and weighted average number of equity shares outstanding for purposes of basic and diluted earnings per share are as follows:

Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Proft attributable to the equityshareholders of the Group	1,586.44	1,554.31
Weighted average number of equityshares for theyear (Basic)	20,52,63,044	20,15,17,413
Weighted average number of equityshares outstandingduringtheyear (Diluted)	20,66,94,885	20,37,90,458
Basic earningsper share (EPS)	7.73	7.71
Diluted earningsper share (EPS)	7.68	7.63
*Number of shares are in absolute fgures

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Note:

a) The potential equity shares as on March 31, 2024 and March 31, 2023 are in the form of stock options granted to employees. The exercise price and the convertion terms of these options are automatically updated pursuant to the Bonus issue (as more fully described in Note 16), hence the Diluted EPS has been adjusted to reflect the impact of the same.

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Based on the information available with the Group and relying on the publicly available information at the time of compilation in respect of companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956, there are no amounts/transactions to disclose as required under B(L)(ix) of Part I of Schedule III to the Companies Act, 2013.

27. TRANSFER PRICING

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

The Group has international transactions with related parties. For the previous year, the Group has obtained the Accountant’s Report from a Chartered Accountant as required by the relevant provisions of the Income-tax Act, 1961 and has filed it with the tax authorities with in the time lines prescribed under the Act. The management has a policy of maintaining documents as prescribed by the Income-tax Act, 1961 to prove that these international transactions are at arm’s length and for the current year, confirms that it maintains such documents and that the aforesaid legislation will not have any impact on the restated Consolidated financial information, particularly on the amount of tax expense and that of provision for taxation.

28. UTILISATION OF IPO PROCEEDS

During the year ended 31 March 2022, the Holding Group had completed its initial public offer (IPO) of 30,489,362 equity shares of face value of 1 each at an issue price of 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Holding Company had received an amount of 4,466.78 millions (net of Company’s share of IPO Expenses 304.87 millions) from the proceeds of the fresh issue. Out of the Company’s share of IPO Expenses 256.59 millions and related Goods and Service Tax of 31.87 millions has been adjusted to securities premium.

Summary of utilisation

Summary of utilisation
Particulars	Objects of the issue	Utilisation up to Unutilisated as of
	asperprospectus	March 31, 2024 March 31, 2024
Fundinginorganicgrowth initiatives	1,479.00	- 1,479.00
Fundingworkingcapital requirements of LatentView Analytics Corporation	824.00	824.00 -
Investment in our Subsidiaries to augment their capital base for futuregrowth	1,300.00	1,300.00 -
General corporatepurposes	863.78	863.78 -
Net utilisation	4,466.78	2,987.78 1,479.00

Net IPO proceeds which were un-utilised as at 31 March 2024 were temporarily invested in fixed deposits with banks, Monitoring Agency bank account, current account balances with banks and in IPO Public issue account (held in cash and cash equivalents).

During the year ended March 31, 2024, the Company had given a loan to LatentView Analytics Corporation of 272.07 millions (with respect to the object of funding the working capital requirement of LatentView Analytics Corporation) out of which, 271 millions was from IPO Funds and 1.07 millions from the current account of the Company. Subsequent to the year end, the Company has transferred an amount of 1.07 millions, from the Monitoring agency account to the current account.

29. ADDITIONAL INFORMATION, AS REQUIRED UNDER SCHEDULE III TO THE COMPANIES ACT, 2013 OF ENTITIES CONSOLIDATED AS SUBSIDIARIES

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LatentView Analytics Annual Report 2023-2024

SUBSIDIARIES
Name of the entity in the group	Net Assets, i.e., total assets minus total liabilities Share in proft or loss Share in other comprehensive income Share in total comprehensive income
	As a % of Consolidated net assets Amount As a % of Consolidated proft or (loss) Amount As % of Consolidated other comprehensive income Amount As % of Consolidated total comprehensive income Amount
Latent View Analytics Limited (formerly known as Latent View Analytics Private Limited)
Balance as of and for theyear ended March 31, 2024	80.17% 11,019.16 71.40% 1,132.68 -19.97% (5.49) 69.84% 1,127.19

(All amounts are in millions of Indian Rupees, unless stated otherwise)

186

29. ADDITIONAL INFORMATION, AS REQUIRED UNDER SCHEDULE III TO THE COMPANIES ACT, 2013 OF ENTITIES CONSOLIDATED AS SUBSIDIARIES (Contd.)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

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SUBSIDIARIES(Contd.)
Name of the entity in the group	Net Assets, i.e., total assets minus total liabilities Share in proft or loss Share in other comprehensive income Share in total comprehensive income
	As a % of Consolidated net assets Amount As a % of Consolidated proft or (loss) Amount As % of Consolidated other comprehensive income Amount As % of Consolidated total comprehensive income Amount
Balance as of and for theyear ended March 31, 2023	81.47% 9,836.98 75.44% 1,172.36 -0.48% (0.71) 68.87% 1,171.65
Subsidiaries
LatentView Analytics Corporation, USA
Balance as of and for theyear ended March 31, 2024	19.78% 2,718.78 36.00% 571.10 0.00% - 35.39% 571.10
Balance as of and for theyear ended March 31, 2023	17.50% 2,113.07 27.53% 427.89 0.00% - 25.15% 427.89
LatentView Analytics Pte Limited, Singapore
Balance as of and for theyear ended March 31, 2024	1.28% 175.35 1.77% 28.04 0.00% - 1.74% 28.04
Balance as of and for theyear ended March 31, 2023	1.22% 147.00 0.22% 3.41 0.00% - 0.20% 3.41
LatentView Analytics UK Limited, United Kingdom
Balance as of and for theyear ended March 31, 2024	-0.88% (121.59) -6.05% (96.04) 0.00% - -5.95% (96.04)
Balance as of and for theyear ended March 31, 2023	-0.20% (23.56) -3.32% (51.65) 0.00% - -3.04% (51.65)
LatentView Analytics B.V, Netherlands
Balance as of and for theyear ended March 31, 2024	-0.31% (42.69) -3.11% (49.34) 0.00% - -3.06% (49.34)
Balance as of and for theyear ended March 31, 2023	0.06% 6.70 0.15% 2.30 0.00% - 0.14% 2.30
LatentView Analytics GmbH, Germany
Balance as of and for theyear ended March 31, 2024	0.00% - 0.00% - 0.00% - 0.00% -
Balance as of and for theyear ended March 31, 2023	0.00% - 0.00% - 0.00% - 0.00% -
Sub total
Balance as of and for theyear ended March 31, 2024	100.04% 13,749.01 100.00% 1,586.44 -19.97% (5.49) 97.96% 1,580.95
Balance as of and for theyear ended March 31, 2023	100.05% 12,080.19 100.00% 1,554.31 -0.48% (0.71) 91.31% 1,553.60
Less:Effect of inter Groupadjustments/eliminations
Balance as of and for theyear ended March 31, 2024	-0.04% (4.93) 0.00% (0.00) 119.97% 32.98 2.04% 32.98
Balance as of and for theyear ended March 31, 2023	-0.05% (5.70) 0.00% - 100.48% 147.83 8.69% 147.83
Total
Balance as of and for theyear ended March 31, 2024	100.00% 13,744.08 100.00% 1,586.44 100.00% 27.49 100.00% 1,613.93
Balance as of and for theyear ended March 31, 2023	100.00% 12,074.49 100.00% 1,554.31 100.00% 147.12 100.00% 1,701.43

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30. OTHER STATUTORY INFORMATION

(i) The Group does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
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(ii) Based on the information available with the Group and relying on the publicly available information at the time of compilation in respect of companies struck off under Section 248 of the Companies Act, 2013 or Section 560 of the Companies Act, 1956, there are no amounts/transactions to disclose as required under B(L)(ix) of Part I of Schedule III to the Companies Act, 2013.
(iii) The Group has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.
(iv) The Group has not traded or invested in Crypto currency or Virtual Currency during the Financial Year.
(v) The Group has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall: (a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(vi) The Group has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
(vii) The Group has not entered into any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
(viii) None of the entities in the Group have been declared willful defaulter by any bank or financial institution or government or any government authority.
(ix) The Group has complied with the number of layers prescribed under the Companies Act, 2013.
(x) The Group has not entered into any scheme of arrangement which has an accounting impact on current or previous Financial Year.

31. CONTINGENT LIABILITIES TO THE EXTEND NOT PROVIDED FOR

Claims against Group, disputed by the Group, not acknowledged as debt:

31. CONTINGENT LIABILITIES TO THE EXTEND NOT PROVIDED FOR Claims against Group, disputed by the Group, not acknowledged as debt:
Particulars	As at March 31, 2024	As at March 31, 2023
(a) Income tax 3.00 3.00
The above amounts are based on the notice of demand/Assessment Orders/claims by the relevant authorities/parties and the Company is contesting these claims. Outfows, if any, arising out of these claims would depend on the outcome of the decisions of the appellate authorities and the Company’s rights for future appeals before the judiciary. The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company’s fnancial position and results of operations.

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM
On March 28, 2024 the Holding Company has entered into a share purchase agreement (SPA) for the acquisition of Decision Point Private Limited (A Company in the space of AI- Led Business Transformation and Revenue Growth Management) (Decision Point). The Acquisition of 70% of the Paid up equity capital of Decision Point at a consideration of ` 3,200 millions (USD 39.1million) is expected to be Completed within 90 days from the SPA, subject to fulfillment of certain conditions as outlined in the SPA. The consideration is on a cash free/debt free basis and would be adjusted for normal level of working capital at closing. The consideration for the remaining 30% would be based on the valuation principles in the SPA in one or more tranches before the close of June 2026 subject to fulfillment of certain conditions as outlined in the SPA. Based on management assessment as at March 31, 2024 the Holding Company does not have Control over the operations of Decision Point, hence the acquisition has not been accounted in the books for the year ended March 31, 2024.

33. SUBSEQUENT EVENTS

There are no subsequent events that have occurred after the reporting period till the date of this Consolidated Financial Statements.

For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481

For B S R & Co. LLP Firm’s registration number: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Pramadwathi Jandhyala A.V. Venkatraman Rajan Sethuraman Partner Whole-Time Director Chairperson Chief Executive Officer Membership No.: 217042 DIN No: 00732854 DIN No: 01240055 Chennai Chennai Chennai Rajan Bala Venkatesan Srinivasan. P Chief Financial Officer Company Secretary Place: Chennai Place: Chennai Date: May 07, 2024 Date: May 07, 2024

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Independent Auditor’s Report

To the Members of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) Report on the Audit of the Standalone Financial Statements

OPINION

REVENUE RECOGNITION

See Note 16 to Standalone Financial Statements

We have audited the Standalone Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) (the “Company”) which comprise the Standalone balance sheet as at 31 March 2024, and the Standalone statement of profit and loss (including other comprehensive income), Standalone statement of changes in equity and Standalone statement of cash flows for the year then ended, and notes to the Standalone Financial Statements, including material accounting policies and other explanatory information.

The key audit matter How the matter was addressed in our audit Revenue recognition

In view of the significance of the matter we applied the following audit procedures in this area, among others to obtain sufficient appropriate audit evidence:

The Company is primarily engaged in the business of rendering analytical services from time-and-material and fixed price contracts.

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Standalone Financial Statements give the information required by the Companies Act, 2013 (“Act”) in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at 31 March 2024, and its profit and other comprehensive loss, changes in equity and its cash flows for the year ended on that date.

1 Assessed the appropriateness of the Company’s revenue recognition accounting policies with reference to the relevant accounting standards.

Fixed price revenue contracts with customers have defined delivery milestones with 2 agreed scope of work. Pricing for each milestone depends on the nature of service/ industry served and the efforts involved over the term of the contract. Revenue from time and material contracts is recognised as the service is performed. Revenue from both these contracts is recognized over a period of 3 time in accordance with the requirements of Ind-AS 115, “Revenue from Contracts with Customers”.

Obtained an understanding of the Company’s Revenue recognition process including design and implementation of controls. Tested the operating effectiveness, for selected sample transactions, of key controls over revenue recognized in the time and material and fixed price contracts.

BASIS FOR OPINION

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act. Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Standalone Financial Statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the Standalone Financial Statements.

Performed test of details on selected statistical samples of revenue transactions recorded during the year. Verified the underlying documents such as Invoices, Statement of works/Purchase Order, Master service agreements and customer acknowledgements (time sheets approvals), where applicable.

We identified revenue recognition from contracts with external customers as a Key 4 Audit Matter since:

Inspected sample of contracts, selected using specific sampling, with respect to unbilled revenues recognised as at period end to assess revenue is recognized upon completion of performance obligations as per the agreed terms of contract.

KEY AUDIT MATTER(S)

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Standalone Financial Statements of the current period. These matters were addressed in the context of our audit of the Standalone Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

there is an inherent risk and presumed fraud risk around the existence of revenues recognised considering the nature of these contracts;
5 Inspected the credit notes/reversals of revenue, if any in the subsequent period to assess revenue is appropriately recognised in the period in which related service is rendered.
at year-end, amount of excess revenue earned over billings (Contract assets/ unbilled revenue), related to these contracts are recognised on the balance sheet. There is a risk that revenue could be recognized at a time which is different from the period in which the service is performed especially for transactions occurring near to the reporting date.
6 Tested manual journal entries posted to revenue based on specified risk-based criteria to identify unusual items.

7 Assessed the adequacy of disclosures made in the Financial Statements with respect to revenue recognized during the year as required by applicable Indian Accounting Standards.

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Notice to the AGM

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OTHER INFORMATION (OR ANOTHER TITLE IF APPROPRIATE, SUCH AS “INFORMATION OTHER THAN THE FINANCIAL STATEMENTS AND AUDITOR’S REPORT THEREON”)

The Company’s Management and Board of Directors are responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the Financial Statements and auditor’s report thereon. The Annual Report is expected to be made available to us after the date of this auditor’s report.

Our opinion on the Standalone Financial Statements does not cover the other information and we will not express any form of assurance conclusion thereon.

In connection with our audit of the Standalone Financial Statements, our responsibility is to read the other information identified above when it becomes available and, in doing so, consider whether the other information is materially inconsistent with the Standalone Financial Statements or our knowledge obtained in the audit, or otherwise appears to be materially misstated.

MANAGEMENT’S AND BOARD OF DIRECTORS RESPONSIBILITIES FOR THE STANDALONE FINANCIAL STATEMENTS

The Company’s Management and Board of Directors are responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these Standalone Financial Statements that give a true and fair view of the state of affairs, profit/loss and other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (Ind AS) specified under Section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Standalone Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Standalone Financial Statements, the Management and Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company’s financial reporting process.

AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF THE STANDALONE FINANCIAL STATEMENTS

Our objectives are to obtain reasonable assurance about whether the Standalone Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Standalone Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the Standalone Financial Statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to Financial Statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Management and Board of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going concern basis of accounting in preparation of Standalone Financial Statements and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the Standalone Financial Statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause the Company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the Standalone Financial Statements, including the disclosures, and whether the Standalone Financial Statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

LatentView Analytics Annual Report 2023-2024

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Standalone Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS

As required by the Companies (Auditor’s Report) Order, 2020 (“the Order”) issued by the Central Government of India in terms of Section 143(11) of the Act, we give in the “Annexure A” a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
A. As required by Section 143(3) of the Act, we report that:
a. We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.
b. In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books, except that the back-up of the books of account and other relevant books and papers in electronic mode has not been kept on servers physically located in India on a daily basis and matters stated in the paragraph 2(B)(f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
c. The Standalone balance sheet, the Standalone statement of profit and loss (including other comprehensive income), the Standalone statement of changes in equity and the Standalone statement of cash flows dealt with by this Report are in agreement with the books of account.
d. In our opinion, the aforesaid Standalone Financial Statements comply with the Ind AS specified under Section 133 of the Act.
e. On the basis of the written representations received from the directors as on 31 March 2024 taken on record by the Board of Directors, none of the directors is disqualified as on 31 March 2024 from being appointed as a director in terms of Section 164(2) of the Act.
f. the reservation relating to the maintenance of accounts and other matters connected therewith are as stated in the paragraph 2(A)(b) above on reporting under Section 143(3)(b) and paragraph 2B(f) below on reporting under Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014.
g. With respect to the adequacy of the internal financial controls with reference to Financial Statements of the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure B”.
B. With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
a. The Company has disclosed the impact of pending litigations as at 31 March 2024 on its financial position in its Standalone Financial Statements - Refer Note 28 to the Standalone Financial Statements.
b. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.
c. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company.
d. (i) The management has represented that, to the best of their knowledge and belief, as disclosed in the Note 32 to the Standalone Financial Statements, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other person(s) or entity(ies), including foreign entities (“Intermediaries”), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
- (ii) The management has represented that, to the best of their knowledge and belief, as disclosed in the Note 32 to the Standalone Financial Statements, no funds have been received by the Company from any person(s) or entity(ies), including foreign entities (“Funding Parties”), with the understanding, whether recorded in writing or otherwise, that the Company shall directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Parties (“Ultimate Beneficiaries”) or provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries.
- (iii) Based on the audit procedures performed that have been considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (i) and (ii) of Rule 11(e), as provided under (i) and (ii) above, contain any material misstatement.
e. The Company has neither declared nor paid any dividend during the year.
f. Based on our examination which included test checks, the Company has used accounting software from third party service provider for maintaining its books of account. In the absence of reporting on compliance with the audit trail requirements in the independent auditor’s report in relation to controls at service organisation for such accounting software, we are unable to comment whether audit trail feature of the said software was enabled and operated throughout the year for all relevant transactions recorded in the software or whether there were any instances of the audit trail feature being tampered with.

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
C. With respect to the matter to be included in the Auditor’s Report under Section 197(16) of the Act:

In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in excess of the limit laid down under Section 197 of the Act. The Ministry of Corporate Affairs has not prescribed other details under Section 197(16) of the Act which are required to be commented upon by us.

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Partner Membership No.: 217042 ICAI UDIN: 24217042BKGSNV2594

Place: Chennai Date: May 07, 2024

Annexure A to the Independent Auditor’s Report on the Standalone Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) for the year ended 31 March 2024

(Referred to in paragraph 1 under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

(i) (a) (A) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.
- (B) The Company has maintained proper records showing full particulars of intangible assets.
(i) (b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has a regular programme of physical verification of its Property, Plant and Equipment by which all property, plant and equipment are verified in a phased manner over a period of three years. In accordance with this programme, certain property, plant and equipment were verified during the year. In our opinion, this periodicity of physical verification is reasonable having regard to the size of the Company and the nature of its assets. No discrepacies were noticed on such verification.
(c) The Company does not have any immovable property (other than immovable properties where the Company is the lessee and the leases agreements are duly executed in favour of the lessee). Accordingly, clause 3(i)(c) of the Order is not applicable.
(d) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not revalued its Property, Plant and Equipment (including Right of Use assets) or intangible assets or both during the year.
(e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no proceedings initiated or pending against the Company for holding any benami property under the Prohibition of Benami Property Transactions Act, 1988 and rules made thereunder.
(ii) (a) The Company is a service company, primarily rendering data analytics services. Accordingly, it does not hold any physical inventories. Accordingly, clause 3(ii)(a) of the Order is not applicable.
(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been sanctioned any working capital limits in excess of five crore rupees in aggregate from banks and financial institutions on the basis of security of current assets at any point of time of the year. Accordingly, clause 3(ii)(b) of the Order is not applicable to the Company.

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LatentView Analytics Annual Report 2023-2024

(ii) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not made any investments in companies, firms, limited liability partnership or any other parties. The Company has granted loans to wholly owned subsidairies outside India during the year in respect of which the requisite information is as below. The Company has not provided any guarantee or security, to a company, limited liability partnership or any other parties and has not granted any loans or

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

advances in the nature of loans, secured or unsecured, to limited liability partnership or any other parties during the year.

during the year.
Particulars	Loans (Rupees in millions)
Aggregate amount advanced during the year
- Subsidiaries*
Latent View Analytics B V	792.01
Latent View Analytica Corporation	272.07
Balance outstanding as at balance sheet date
- Subsidiaries*
‘Latent View Analytics UK Limited	526.10
Latent View Analytics B V	806.40
Latent View Analytics Corporation	272.52

*As per the Companies Act, 2013

(b) According to the information and explanations given to us and based on the audit procedures conducted by us, in our opinion the terms and conditions of the grant of loans during the year are, prima facie, not prejudical to the interest of the Company. There were no investments made, guarantees provided, security given during the year.
(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, in the case of loans given, in our opinion the repayment of principal and payment of interest has been stipulated and the repayments or receipts have been regular. Further, the Company has not given any advance in the nature of loan to any party during the year.
(d) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no overdue amount for more than ninety days in respect of loans given. Further, the Company has not given any advances in the nature of loans to any party during the year.
(e) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there is no loan or advance in the nature of loan granted falling due during the year, which has been renewed or extended or fresh loans granted to settle the overdues of existing loans given to same parties.
(f) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not granted any loans or advances in the nature of loans either repayable on demand or without specifying any terms or period of repayment.
(iv) According to the information and explanations given to us and on the basis of our examination of records of the Company, in respect of loans given by the Company, in our opinion the provisions of Section 185 and 186 of the Companies Act, 2013 (“the Act”) have been complied with. There are no investments made or guarantee and security given by the Company during the year.
(v) The Company has not accepted any deposits or amounts which are deemed to be deposits from the public. Accordingly, clause 3(v) of the Order is not applicable.
According to the information and explanations given to us, the Central Government has not prescribed the maintenance of cost records under Section 148(1) of the Act for the services provided by it. Accordingly, clause 3(vi) of the Order is not applicable.
(vi)
(vii) (a) The Company does not have liability in respect of Service tax, Duty of excise, Sales tax and Va.lue added tax during the year since effective 1 July 2017, these statutory dues has been subsumed into GST.

According to the information and explanations given to us and on the basis of our examination of the records of the Company, in our opinion amounts deducted/accrued in the books of account in respect of undisputed statutory dues including Goods and Service Tax, Provident Fund, Employees State Insurance, Income-Tax, Duty of Customs or Cess or other statutory dues have been regularly deposited by the Company with the appropriate authorities.

According to the information and explanations given to us and on the basis of our examination of the records of the Company, no undisputed amounts payable in respect of Goods and Service Tax, Provident Fund, Employees State Insurance, Income-Tax, Duty of Customs or Cess or other statutory dues were in arrears as at 31 March 2024 for a period of more than six months from the date they became payable.

(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, statutory dues relating to Goods and Service Tax, Provident Fund, Employees State Insurance, Income-Tax, Duty of Customs or Cess or other statutory dues which have not been deposited on account of any dispute are as follows:

Name of the	Nature of the	Amount (Rs.)	Period to which	Forum where
statute	dues		the amount	dispute is
			relates	pending
Income tax Act,	Income Taxes	3,077,756	AY 2017-18	Commissioner
1961				of Income tax
				Appeals
Income tax Act,	Interest on	499,310	AY 2020-21	Assessing Offcer
1961	Income taxes

(viii) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, in the tax assessments under the Income Tax Act, 1961 as income during the year.
(ix) (a) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company did not have any loans or borrowings from any lender during the year. Accordingly, clause 3(ix)(a) of the Order is not applicable to the Company.
(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not been declared a wilful defaulter by any bank or financial institution or government or government authority.

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(c) According to the information and explanations given to us by the management, the Company has not obtained any term loans during the year. Accordingly, clause 3(ix)(c) of the Order is not applicable.


1.	Strategic Review CompanyOverview	(c)	According to the information and explanations given to us by the management, the Company has not obtained any term loans during the year. Accordingly, clause 3(ix)(c) of the Order is not applicable.
	Founders’ Address
	Letter to Shareholders Management Quotes Performance Review	(d)	According to the information and explanations given to us and on an overall examination of the balance sheet of the Company, we report that no funds raised on short-term basis have been used for long-term
	Success Stories		purposes by the Company.
	Investment Case
	Growth Strategies Sustainabilityat LatentView Our People Philosophy Corporate Social Responsibility	(e)	According to the information and explanations given to us and on an overall examination of the Standalone Financial Statements of the Company, we report that the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries as defned under the
	Corporate Governance		Act.
	Management Discussion & Analysis

(f) According to the information and explanations given to us and procedures performed by us, we report that the Company has not raised loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies (as defined under the Act).
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
(x) (a) In our opinion and according to the information and explanations given to us, the Company has utilised the money raised by way of initial public offer for the purposes for which they were raised. The Company had raised funds by way of initial public offer in the month of November 2021 and the unutilized amounts as at the year ended 31 March, 2024 were deposited in fixed deposits and bank account with the monitoring agency. There were no funds raised by way of further public offer (including debt instruments) during the year.
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year. Accordingly, clause 3(x)(b) of the Order is not applicable.
(xi) (a) Based on examination of the books and records of the Company and according to the information and explanations given to us, no fraud by the Company or on the Company has been noticed or reported during the course of the audit.
(b) According to the information and explanations given to us, no report under sub-section (12) of Section 143 of the Act has been filed by the auditors in Form ADT-4 as prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the Central Government.
(c) As represented to us by the management, there are no whistle blower complaints received by the Company during the year.

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(xii) According to the information and explanations given to us, the Company is not a Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable.
(xiii) In our opinion and according to the information and explanations given to us, the transactions with related parties are in compliance with Section 177 and 188 of the Act, where applicable, and the details of the related party transactions have been disclosed in the Standalone Financial Statements as required by the applicable accounting standards.
(xiv) (a) Based on information and explanations provided to us and our audit procedures, in our opinion, the Company has an internal audit system commensurate with the size and nature of its business.
(b) We have considered the internal audit reports of the Company issued till date for the period under audit.
(xv) In our opinion and according to the information and explanations given to us, the Company has not entered into any non-cash transactions with its directors or persons connected to its directors and hence, provisions of Section 192 of the Act are not applicable to the Company.
(xvi) (a) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clause 3(xvi)(a) of the Order is not applicable.
(b) The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, clause 3(xvi)(b) of the Order is not applicable.
(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly, clause 3(xvi)(c) of the Order is not applicable.
(d) The Company is not part of any group (as per the provisions of the Core Investment Companies (Reserve Bank) Directions, 2016 as amended). Accordingly, the requirements of clause 3(xvi)(d) are not applicable.
(xvii) The Company has not incurred cash losses in the current and in the immediately preceding Financial Year.
(xviii) There has been no resignation of the statutory auditors during the year. Accordingly, clause 3(xviii) of the Order is not applicable.
(xix) According to the information and explanations given to us and on the basis of the financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, our knowledge of the Board of Directors and management plans and based on our examination of the evidence supporting the assumptions, nothing has come to our attention, which causes us to believe that any material uncertainty exists as on the date of the audit report that the Company is not capable of meeting its liabilities existing at the date of balance sheet as and when they fall due within a period of one year from the balance sheet date.

LatentView Analytics Annual Report 2023-2024

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report and we neither give any guarantee nor any assurance that all liabilities falling due within a period of one year from the balance sheet date, will get discharged by the Company as and when they fall due.

Also refer to the Other Information paragraph of our main audit report which explains that the other information comprising the information included in annual report is expected to be made available to us after the date of this auditor’s report.

(xx) In our opinion and according to the information and explanations given to us, there is no unspent amount under sub-section (5) of Section 135 of the Act pursuant to any project. Accordingly, clauses 3(xx)(a) and 3(xx)(b) of the Order are not applicable.

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Partner Membership No.: 217042 ICAI UDIN: 24217042BKGSNV2594

Partner

Place: Chennai Date: May 07, 2024

Annexure B to the Independent Auditor’s Report on the Standalone Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) for the year ended 31 March 2024

Report on the internal financial controls with reference to the aforesaid Standalone Financial Statements under Clause (i) of Sub-section 3 of Section 143 of the Act

(Referred to in paragraph 2(A)(f) under ‘Report on Other Legal and Regulatory Requirements’ section of our report of even date)

OPINION

We have audited the internal financial controls with reference to Financial Statements of Latent View Analytics Limited (Formerly known as Latent View Analytics Private Limited) (“the Company”) as of 31 March 2024 in conjunction with our audit of the Standalone Financial Statements of the Company for the year ended on that date.

In our opinion, the Company has, in all material respects, adequate internal financial controls with reference to Financial Statements and such internal financial controls were operating effectively as at 31 March 2024, based on the internal financial controls with reference to Financial Statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by the Institute of Chartered Accountants of India (the “Guidance Note”).

MANAGEMENT’S AND BOARD OF DIRECTORS’ RESPONSIBILITIES FOR INTERNAL FINANCIAL CONTROLS

The Company’s Management and the Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal financial controls with reference to Financial Statements criteria established by the Company considering the essential components of internal control stated in the Guidance Note. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

AUDITOR’S RESPONSIBILITY

Our responsibility is to express an opinion on the Company’s internal financial controls with reference to Financial Statements based on our audit. We conducted our audit in accordance with the Guidance Note and the Standards on Auditing, prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls with reference to Financial Statements. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls with reference to Financial Statements were established and maintained and if such controls operated effectively in all material respects.

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the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the Standalone Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls with reference to Financial Statements.

MEANING OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

A company’s internal financial controls with reference to Financial Statements is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external purposes in accordance with generally accepted accounting principles. A company’s internal financial controls with reference to Financial Statements include those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions

of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorisations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the company’s assets that could have a material effect on the Financial Statements.

INHERENT LIMITATIONS OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Place: Chennai Date: May 07, 2024

For B S R & Co. LLP Firm’s Registration No.: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan Partner Membership No.: 217042 ICAI UDIN: 24217042BKGSNV2594

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Standalone Balance Sheet

As at March 31, 2024

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Note reference As at March 31, 2024 As at March 31, 2023 ASSETS Non-current assets Property, plant and equipment 4 76.84 50.57 Right-of-use assets 5 169.77 160.80 Intangible assets 6 - 0.11 Financial assets: Investments 8.1 2,868.17 2,460.20 Loans 8.5 1,332.50 507.75 Other fnancial assets 8.6 32.35 228.24 Deferred tax assets(net) 7.4 55.40 190.79 Other tax assets(net) 7.6 19.66 3.06 Other non-current assets 9.2 20.17 52.98 Total non-current assets 4,574.86 3,654.50 Current assets Financial assets: Investments 8.1 2,661.34 1,451.21 Trade receivables 8.2 1,021.64 506.56 Cash and cash equivalents 8.3 462.42 71.78 Bank balances other than cash and cash equivalents 8.4 1,002.41 3,560.33 Loans 8.5 272.52 566.56 Other fnancial assets 8.6 1,405.40 299.72 Contract assets 9.1 - 4.90 Other current assets 9.2 27.08 28.79 Total current assets 6,852.81 6,489.85 TOTAL ASSETS 11,427.67 10,144.35 EQUITY AND LIABILITIES Equity Equityshare capital 10 205.90 204.90 Other equity 10.2 10,813.26 9,632.08 Total equity 11,019.16 9,836.98 LIABILITIES Non-current liabilities Financial liabilities: Lease liabilities 11.2 179.39 149.77 Provisions 12 30.19 18.13 Total non-current liabilities 209.58 167.90	Note reference As at March 31, 2024 As at March 31, 2023
	Current liabilities
	Financial liabilities:
	Lease liabilities 11.2 42.49 58.93
	Tradepayables
	Total oustanding dues to micro enterprises and small enterprises 11.1 - 0.98
	Total oustanding dues to other than micro enterprises and small enterprises 11.1 50.95 22.13
	Other fnancial liabilities 11.3 26.56 -
	Other current liabilities 13 78.93 49.51
	Current tax liabilities(net) 7 - 7.92
	Total current liabilities 198.93 139.47
	Total liabilities 408.51 307.37
	TOTAL EQUITY AND LIABILITIES 11,427.67 10,144.35
	Material accounting policies 3
	The notes referred to above form an integral part of the Standalone Financial Statements. As per our report of even date attached ForB S R & Co. LLP Firm’s registration number: 101248W/W-100022 Chartered Accountants For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481 Satish Vaidyanathan Partner Membership No.: 217042 Pramadwathi Jandhyala Whole-Time Director DIN No: 00732854 Chennai A.V. Venkatraman Chairperson DIN No: 01240055 Chennai Rajan Sethuraman Chief Executive Offcer Chennai Rajan Bala Venkatesan Chief Financial Offcer Srinivasan. P Company Secretary Place:Chennai Date:May 07, 2024 Place:Chennai Date:May 07, 2024

For B S R & Co. LLP For and on behalf of the Board of Directors of Firm’s registration number: 101248W/W-100022 Latent View Analytics Limited Chartered Accountants CIN No: L72300TN2006PLC058481 Satish Vaidyanathan Pramadwathi Jandhyala A.V. Venkatraman Rajan Sethuraman Partner Whole-Time Director Chairperson Chief Executive Officer Membership No.: 217042 DIN No: 00732854 DIN No: 01240055 Chennai Chennai Chennai Rajan Bala Venkatesan Srinivasan. P Chief Financial Officer Company Secretary Place: Chennai Place: Chennai Date: May 07, 2024 Date: May 07, 2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Standalone Statement of Profit and Loss

For the year ended March 31, 2024

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

For the year ended March 31, 2024
Note reference Year ended March 31, 2024 Year ended March 31, 2023 Income Revenue from operations 16 2,915.15 2,639.50 Other income 17 692.16 572.22 Total income 3,607.31 3,211.72 Expenses Employee benefts expense 18 1,597.06 1,343.77 Finance costs 19 30.38 26.14 Depreciation and amortisation expense 20 80.91 74.17 Other expenses 21 359.55 271.94 Total expenses 2,067.90 1,716.02 Proft before tax 1,539.41 1,495.70 Tax expense 7 Current tax 399.59 328.12 Deferred tax (beneft)/charge 7.14 (4.78) Total tax expense 406.73 323.34 Proft for theyear 1,132.68 1,172.36 Other comprehensive income Items that will not be reclassifed to proft or loss: Remeasurement of defned beneftplan 12.1.6 (7.74) (1.00) Income tax thereon 2.25 0.29 Net other comprehensive income, that will not be reclassifed subsequently to proft and loss (5.49) (0.71) Total comprehensive income for theyear 1,127.19 1,171.65	Note reference Year ended March 31, 2024 Year ended March 31, 2023
	Earningsper equityshare 26
	Basic earningsper share (in`) 5.52 5.82
	Diluted earningsper share (in`) 5.48 5.75
	Material accounting policies 3
	The notes referred to above form an integral part of the Standalone Financial Statements. As per our report of even date attached. ForB S R & Co. LLP Firm’s registration number: 101248W/W-100022 Chartered Accountants For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481 Satish Vaidyanathan Partner Membership No.: 217042 Pramadwathi Jandhyala Whole-Time Director DIN No: 00732854 Chennai A.V. Venkatraman Chairperson DIN No: 01240055 Chennai Rajan Sethuraman Chief Executive Offcer Chennai Rajan Bala Venkatesan Chief Financial Offcer Srinivasan. P Company Secretary Place:Chennai Date:May 07, 2024 Place:Chennai Date:May 07, 2024

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Standalone Statement of Cash Flows

For the year ended March 31, 2024

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Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

For the year ended March 31, 2024
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Cash fows from operatingactivities
Proft before tax		1,539.41	1,495.70
Adjustments for:
Depreciation and amortisation expense	20	80.91	74.17
Amortisation ofpremiumpaid on bonds	19	8.74	6.63
Share based compensation expense	18	17.47	28.52
Financial assets measured at FVTPL - net	17	(73.24)	(18.21)
change in fair value
Interest income on deposits with banks and	17	(559.05)	(442.88)
fnancial institutions
Gain on sale of investments	17	(7.50)	(15.10)
Gain on sale of Property, plant and	17	(3.02)	-
equipments
Finance costs	19	21.64	19.51
Interest income on securitydeposits	17	(0.82)	(1.64)
Unrealised (gain)/loss on foreign exchange		(35.81)	(22.16)
differences
Operating proft before working capital		988.73	1,124.54
changes
Adjustments for changes in working
capital:
(Increase) in trade receivables		(512.40)	(96.80)
Decrease/(Increase) in other assets		7.56	(30.71)
Decrease/(Increase) in other fnancial assets		20.56	(7.49)
Increase inprovisions Increase/(Decrease) in trade payables and other liabilities		4.32 57.27	5.20 (17.63)
Cashgenerated from operations		566.04	977.11
Income Taxespaid (net)		(293.61)	(269.05)
Net cash generated from operating		272.43	708.06
activities (A)

s
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Cash fows from investingactivities
Purchase ofproperty,plant and equipment		(41.14)	(18.30)
Sale ofproperty,plant and equipment		3.02	-
Proceeds from sale of invetsments		2,386.92	695.07
Loans to Subsidiaries		(1,064.05)	(551.93)
Proceeds from repayment of loan to		566.56	-
subsidiaries
Proceeds from investment in bank deposits		1,613.00	1,142.95
and deposits with fnancial institutions (net)
Interest income on deposits with banks and		548.12	349.13
fnancial institutions
Purchase of investments		(3,889.24)	(2,591.39)
Net cash generated/(used) in investing		123.19	(974.47)
activities (B)
Cash fows from fnancingactivities
Repayment of lease liabilities - Principal		(38.23)	(37.93)
portion
Repayment of lease liabilities - Interestportion		(21.64)	(19.51)
Share issue expenses		-	(46.30)
Proceeds from exercise of share options		54.89	69.57
Net cash (used) in fnancing		(4.98)	(34.17)
activities (C)
Net increase/(decrease) in cash and		390.64	(300.58)
cash equivalents (A)+(B)+(C)
Cash and cash equivalents as at the		71.78	372.36
beginningof theyear
Cash and cash equivalents as at the		462.42	71.78
end of theyear

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Standalone Statement of Cash Flows (Contd.)

For the year ended March 31, 2024

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Financial Statements Consolidated Financial Statement

For the year ended March 31, 2024
	Note	Year ended	Year ended
	reference	March 31, 2024	March 31, 2023
Cash and cash equivalents as at the end of theyear	8.3
Cash on hand		0.02	-
Balances with Banks
- in current accounts		62.40	71.78
- in deposit accounts(with original maturityof 3 months or less)		400.00
Cash and cash equivalents as at the end of theyear		462.42	71.78
Material accounting polices	3

Notes:

The above Cash flow from operating activities has been prepared under the “Indirect Method” as set out in the Indian Accounting Standard (“IND AS 7”) - “Cash flow statements”.
Cash comprises cash on hand, current accounts. Cash equivalents are short-term balances(with an original maturity of three months or less from the date of acquisition).

The notes referred to above form an integral part of the Standalone Financial Statements.

Standalone Financial Statement

Notice to the AGM

As per our report of even date attached.

For B S R & Co. LLP

Firm’s registration number: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan

Partner Membership No.: 217042

Pramadwathi Jandhyala A.V. Venkatraman Whole-Time Director Chairperson DIN No: 00732854 DIN No: 01240055 Chennai Chennai

For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481

Rajan Sethuraman Chief Executive Officer Chennai

Rajan Bala Venkatesan Srinivasan. P Chief Financial Officer Company Secretary

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Place: Chennai Date: May 07, 2024

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

201

Standalone Statement of Changes in Equity

A. EQUITY SHARE CAPITAL

Strategic Review

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A. EQUITY SHARE CAPITAL
	Note	Amount
Balance as at April 1, 2023		204.90
Changes duringtheyear: Share options exercised	15	1.00
Balance as at March 31, 2024		205.90
Balance as at April 1, 2022		200.42
Changes duringtheyear: Share options exercised	15	4.48
Balance as at March 31, 2023		204.90

B. OTHER EQUITY

B. OTHER EQUITY
Note	Other equity Total other equity Reserves and surplus Securities premium Employee share option reserve General reserve Retained earnings Special Economic Zone (SEZ) Re-investment Reserve
2023-24
Balance at April 1, 2023	4,608.18 49.89 11.32 4,962.69 - 9,632.08
Proft for theyear	- - - 1,132.68 - 1,132.68
Other comprehensive income (net of tax)	- - - (5.49) - (5.49)
Total Comprehensive Income	- - - 1,127.19 - 1,127.19
Transactions with owners, recorded directlyin equity
Share basedpayments expense 18	- 31.97 - - - 31.97
Share options exercised 15	53.89 - - - - 53.89
Transfer to SEZ re-investment reserve 10.2.6	- - - (50.00) 50.00 -
Sharepremium adjustment towards IPO 9.2	(31.87) - - - - (31.87)
Premium on share option exercised duringtheyear	16.97 (16.97) - - - -
Balance as at March 31, 2024	4,647.17 64.89 11.32 6,039.88 50.00 10,813.26

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Notice to the AGM

(Contd.) Standalone Statement of Changes in Equity

B. OTHER EQUITY

B. OTHER EQUITY
Note	Other equity Total other equity Reserves and surplus Securities premium Employee share option reserve General reserve Retained earnings Special Economic Zone (SEZ) Re-investment Reserve
2022-23
Balance as of April 1, 2022	4,523.01 30.29 11.32 3,791.04 - 8,355.66
Proft for theyear	- - - 1,172.36 - 1,172.36
Other comprehensive income (net of tax)	- - - (0.71) - (0.71)
Total Comprehensive Income	- - - 1,171.65 - 1,171.65
Transactions with owners, recorded directlyin equity
Share basedpayments expense 18	- 39.68 - - - 39.68
Share options exercised 15	65.09 - - - - 65.09
Premium on share option exercised duringtheyear	20.08 (20.08) - - - -
Balance as at March 31, 2023	4,608.18 49.89 11.32 4,962.69 - 9,632.08

The notes referred to above form an integral part of the Standalone Financial Statements.

As per our report of even date attached.

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LatentView Analytics Annual Report 2023-2024

For B S R & Co. LLP

Firm’s registration number: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan

Partner Membership No.: 217042

Place: Chennai

Date: May 07, 2024

A.V. Venkatraman Chairperson DIN No: 01240055 Chennai

Pramadwathi Jandhyala Whole-Time Director DIN No: 00732854 Chennai

Rajan Bala Venkatesan Srinivasan. P Chief Financial Officer Company Secretary

Place: Chennai Date: May 07, 2024

For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481

Rajan Sethuraman Chief Executive Officer Chennai

203

Notes forming part of the Standalone Financial Statements

For the year ended March 31, 2024

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LatentView Analytics Annual Report 2023-2024

1. COMPANY OVERVIEW

Latent View Analytics Limited (formerly known as Latent View Analytics Private Limited) (“the Company”) is an India based data analytics Company incorporated on January 3, 2006, whose head office and corporate office is in Chennai. The Company’s primary objective is to enable customers to develop and deploy result-oriented analytics solutions that shall enable them to make smarter decisions using their data on an on-going basis. These solutions enable customers improve their marketing performance, efficiently trade-off risks against the available opportunities, maximise customer value and increase employee effectiveness.

The Holding Company has converted itself from Private Limited to Public Limited, pursuant to a special resolution passed in the extraordinary general meeting of the shareholders of the Company held on June 18, 2021 and consequently the name of the Company has changed to ”Latent View Analytics Limited” pursuant to a fresh certificate of incorporation by the Registrar of Companies on July 16, 2021.

2. BASIS OF PREPARATION

This note provides a list of the material accounting policies adopted in the preparation of these Standalone Financial Statements. The Company has consistently applied the following accounting policies to all periods presented in the Standalone Financial Statements. The Financial Statements have been prepared and presented on the going concern basis.

A. Statement of compliance

These Standalone Financial Statements have been prepared in accordance with the Indian Accounting Standards (referred to as “Ind AS”) as prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules as amended from time to time.

Details of the Company’s accounting policies are included in Note 3.

B. Functional and presentation currency

Items included in the Financial Statements of the Company are measured using the currency of the primary economic environment in which the Company operates (‘the functional currency’). The Financial Statements are presented in Indian Rupee (`), which is Company’s functional and presentation currency.

All amounts disclosed in the Financial Statements and notes have been rounded off to the nearest Rupees in millions, unless otherwise stated.

C. Basis of measurement

The Financial Statements have been prepared on the historical cost basis except for the following items:

Items	Measurement basis
Certain fnancial assets and liabilities	Fair value
(includingderivative instruments)
Net defned beneft (asset)/liability	Fair value of plan assets less present value of defned
	beneft obligations

D. Use of estimates and judgments

In preparing the Financial Statements, management has made judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates.

Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised prospectively.

Judgements

Information about judgements made in applying accounting policies that have the most significant effects on the amounts recognised in the Financial Statements is included in the following notes:

a) Note 3(J) and 7 – provision for income taxes, uncertain tax treatments;
b) Note 3(I) – leases: whether an arrangement contains a lease;
c) Note 3(I) – lease term: whether the Company is reasonably certain to exercise extension options.

Assumptions and estimation uncertainties

Information about assumptions and estimation uncertainties that have a significant risk of resulting in a material adjustment in the carrying amount of assets and liabilities in the next Financial Year is included in the following notes:

a) Note 3(D) – estimated useful life of property, plant and equipment and intangible assets;
b) Note 12 – measurement of defined benefit assets and obligations: key actuarial assumptions;
c) Note 7 – recognition of deferred tax assets: availability of future taxable profit against which deferred tax assets will be recovered in future periods;
d) Note 3(F)(i) & 22 – impairment of financial assets;
e) Note 11.2 – incremental borrowing rates used to discount lease liabilities.

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LatentView Analytics Annual Report 2023-2024

E. Measurement of fair values

A number of the Company’s accounting policies and disclosures require the measurement of fair values, for both financial and non-financial assets and liabilities.

The Company has an established control framework with respect to the measurement of fair values. The Chief Financial Officer has overall responsibility for overseeing all significant fair value measurements.

Fair values are categorised into different levels in a fair value hierarchy based on the inputs used in the valuation techniques as follows:

Level 1: quoted prices (unadjusted) in active markets for identical assets or liabilities;

Level 2: inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices);

Level 3: inputs for the asset or liability that are not based on observable market data (unobservable inputs).

When measuring the fair value of an asset or a liability, the Company uses observable market data as far as possible. If the inputs used to measure the fair value of an asset or a liability fall into different levels of the fair value hierarchy, then the fair value measurement is categorised in its entirety in the same level of the fair value hierarchy as the lowest level input that is significant to the entire measurement.

The Company recognises transfers between levels of the fair value hierarchy at the end of the reporting period during which the change has occurred.

Further information about the assumptions made in measuring fair values is included in Note 22 – financial instruments.

3. MATERIAL ACCOUNTING POLICIES

A. Operating cycle

The operating cycle is the time between the acquisition of assets for processing and their realisation in cash and cash equivalents. The Company has identified twelve months as its operating cycle.

B. Foreign currency transactions

Transactions in foreign currencies are initially recorded by the Company at their functional currency spot rates at the date of the transaction.

items which are carried at historical cost denominated in a foreign currency are reported using the exchange rates at the date of transaction. Non-monetary assets and liabilities that are measured based on historical cost in a foreign currency are translated at the exchange rate at the date of the transaction.

C. Financial instruments

i) Recognition and initial measurement

Trade receivables and debt securities are initially recognised when they are originated. All other financial assets and financial liabilities are initially recognised when the Company becomes a party to the contractual provisions of the instrument.

A financial asset except trade receivables which are initially recognised at transaction price as per Ind AS 115 or financial liability is initially measured at fair value plus, for an item not at fair value through profit and loss (FVTPL), transaction costs that are directly attributable to its acquisition or issue.

ii) Classification and subsequent measurement

Financial assets:

On initial recognition, a financial asset is classified as measured at:

amortised cost;
fair value through other comprehensive income (FVOCI) - debt investment;
fair value through other comprehensive income (FVOCI) - equity investment;
fair value through profit and loss (FVTPL).

Financial assets are not reclassified subsequent to their initial recognition, except if and in the period the Company changes its business model for managing financial assets.

A financial asset is measured at amortised cost if it meets both of the following conditions and is not designated as at FVTPL:

a) the asset is held within a business model whose objective is to hold assets to collect contractual cash flows; and
b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

A debt investment is measured at fair value through other comprehensive income if it meets both the following conditions and is not designated as FVTPL:

a) the asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling financial assets; and
b) the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding.

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LatentView Analytics Annual Report 2023-2024

On initial recognition of an equity investment that is not held for trading, the Company may irrevocably elect to present subsequent changes in the investment’s fair value in OCI (designated as FVOCI – equity investment). This election is made on an investment by investment basis.

All financial assets not classified as measured at amortised cost or FVOCI as described above are measured at FVTPL. On initial recognition, the Company may irrevocably designate a financial asset that otherwise meets the requirements to be measured at amortised cost or at FVOCI as at FVTPL if doing so eliminates or significantly reduces an accounting mismatch that would otherwise arise.

Financial assets: Business model assessment

The Company makes an assessment of the objective of the business model in which a financial asset is held at a portfolio level because this best reflects the way the business is managed and the information is provided to management. The information considered includes:

the stated policies and objectives for the portfolio and the operation of those policies in practice;
these include whether management strategy focuses on earning contractual interest, maintaining a particular interest rate profile, matching the duration of financial assets to the duration of any related liabilities or expected cash outflows or realising cash flows through the sale of assets;
how the performance of the portfolio is evaluated and reported to the Company’s management;
the risk that affect the performance of the business model (and the financial assets held with in the business model) and how those risks are managed;
how managers of the business are compensated;
the frequency, volume and timing of sales of financial assets in prior period, the reasons for such sales and expectations about future sales activity;
transfers of financial assets to third parties in transactions that do not qualify for derecognition are not considered sales for this purpose, consistent with the Company’s continuing recognition of the assets.

Financial assets that are held for trading or are managed and whose performance is evaluated on fair value basis are measured at FVTPL.

Financial assets: Assessment whether contractual cash flows are solely payments of principal and interest

In assessing whether the contractual cash flows are solely payments of principal and interest, the Company considers the contractual terms of the instrument. This includes assessing whether the financial asset contains a contractual term

that could change the timing or amount of contractual cash flows such that it would not meet this condition. In making this assessment, the Company considers:

contingent events that would change the amount or timing of cash flows;
terms that may adjust the contractual coupon rate, including variable interest rate features;
prepayment and extension features; and
terms that limit the Company’s claim to cash flows from specified assets.

Financial assets: Subsequent measurement and gains and losses

Financial assets at	These assets are subsequently measured at fair value. Net gains and losses, including
FVTPL	anyinterest or dividend income, are recognised in statement ofproft and loss.
Financial assets at	These assets are subsequently measured at amortised cost using the effective interest
amortised cost	method. The amortised cost is reduced by the impairment losses. Interest income, foreign
	exchange gains and losses and impairment are recognised in statement of proft and
	loss. Any gain or loss on derecognition is recognised in statement ofproft and loss.
Equity investments at	These assets are subsequently measured at fair value. Dividends are recognised as
FVOCI	income in proft or loss unless the dividend clearly represents a recovery of part of the
	cost of the investment. Other net gains and losses are recognised in OCI and are not
	reclassifed to statement ofproft and loss.

Financial liabilities: Classification, subsequent measurement and gains and losses

Financial liabilities are classified as measured at amortised cost or FVTPL. A financial liability is classified as at FVTPL if it is classified as held for trading,or if it is a derivative, or it is designated as such on initial recognition. Financial liabilities at FVTPL are measured at fair value and net gains and losses, including any interest expense, are recognised in profit or loss. Other financial liabilities are subsequently measured at amortised cost using the effective interest method. Interest expense and foreign exchange gains and losses are recognised in statement of profit and loss. Any gain or loss on derecognition is also recognised in statement of profit and loss.

iii) Derecognition

Financial assets:

The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers the rights to receive the contractual cash flows in a transaction in which substantially all of the risks and rewards of ownership of the financial asset are transferred or in which the Company neither transfers nor retains substantially all of the risks and rewards of ownership and does not retain control of the financial asset.

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

4. Notice to the AGM

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If the Company enters into transactions whereby it transfers assets recognised on its balance sheet, but retains either all or substantially all of the risks and rewards of the transferred assets, the transferred assets are not derecognised.

Financial liabilities:

The Company derecognises a financial liability when its contractual obligations are discharged or cancelled, or expire.

The Company also derecognises a financial liability when its terms are modified and the cash flows under the modified terms are substantially different. In this case, a new financial liability based on the modified terms is recognised at fair value. The difference between the carrying amount of the financial liability extinguished and the new financial liability with modified terms is recognised in profit or loss.

iv) Offsetting

Financial assets and financial liabilities are offset and the net amount presented in the balance sheet when, and only when, the Company currently has a legally enforceable right to set off the amounts and it intends either to settle them on a net basis or to realise the asset and settle the liability simultaneously.

v) Derivative financial instruments

Derivatives are initially measured at fair value. Subsequent to initial recognition, derivatives are measured at fair value, and changes therein are generally recognised in profit or loss.

D. Property, plant and equipment

i) Recognition and initial measurement

Items of property, plant and equipment are measured at cost, (which includes capitalised borrowing costs, if any) less accumulated depreciation and accumulated impairment losses, if any.

If significant parts of an item of property, plant and equipment have different useful lives, then they are accounted for as separate items (major components) of property, plant and equipment.

Any gain or loss on disposal of an item of property, plant and equipment is recognised in statement of profit and loss.

ii) Subsequent expenditure

Subsequent expenditure is capitalised only if it is probable that the future economic benefits associated with the expenditure will flow to the Company.

iii) Depreciation

Asset category	Management estimate	Useful life as per
	of useful life	Schedule II
Offce equipment	5	5/10
Electrical equipment	10	10
Computers	3-5	3/6
Furnitures and fxtures	10	10
Vehicles	8	8/10
Leasehold improvements	5	5

Depreciation method, useful lives and residual values are reviewed at each Financial Year-end and adjusted if appropriate. Based on technical evaluation and consequent advice, the management believes that its estimates of useful lives as above best represent the period over which management expects to use such assets.

Depreciation on additions (disposals) is provided on a pro-rata basis i.e. from (up to) the date on which asset is ready for use (disposed of).

E. Intangible assets

i) Recognition and initial measurement

Intangible assets of the Company comprises of purchased software that are initially measured at cost. Such intangible assets are subsequently measured at cost less accumulated amortisation and any accumulated impairment losses.

ii) Subsequent expenditure

Subsequent expenditure is capitalised only when it increases the future economic benefits embodied in the specific asset to which it relates.

iii) Amortisation

The estimated useful lives are as follows:

The estimated useful lives are as follows:
Asset category	Management estimate of useful life
Software	3

Amortisation method, useful lives and residual values are reviewed at the end of each Financial Year and adjusted if appropriate.

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4. Notice to the AGM

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F. Impairment

i) Impairment of financial assets

The Company recognises loss allowances for expected credit losses on financial assets measured at amortised cost.

At each reporting date, the Company assesses whether financial assets carried at amortised cost are credit impaired. A financial asset is ‘credit impaired’ when one or more events that have a detrimental impact on the estimated future cash flows of the financial asset have occurred.

Evidence that a financial asset is credit impaired includes the following observable data:

significant financial difficulty of the borrower or issuer;
a breach of contract such as a default or past dues;
the restructuring of a loan or advance by the Company on terms that the Company would not consider otherwise;
it is probable that the borrower will enter bankruptcy or other financial reorganisation; or
the disappearance of an active market for a security because of financial difficulties.

The Company follows ‘simplified approach’ for recognition of impairment loss allowance on trade receivables which do not contain a significant financing component. The application of simplified approach does not require the Company to track changes in credit risk. Rather, it recognises impairment loss allowance based on lifetime impairment pattern at each balance sheet date, right from its initial recognition.

The Company always measures the loss allowance for trade receivables at an amount equal to lifetime expected credit loss (ECL). The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix under simplified approach. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due.

Loss allowances for financial assets measured at amortized cost are deducted from the gross carrying amount of the assets. The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Company determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write-off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Company’s procedures for recovery of amounts due.

The Company measures loss allowances at an amount equal to lifetime expected credit losses, except for the following, which are measured as 12 months expected credit losses:

debt securities that are determined to have low credit risk at the reporting date; and
other debt securities and bank balances for which credit risk (i.e. the risk of default occurring over the expected life of the financial instrument) has not increased significantly since initial recognition.

Loss allowances for trade receivables and contract assets are always measured at an amount equal to lifetime expected credit losses.

Lifetime expected credit losses are the expected credit losses that result from all possible default events over the expected life of a financial instrument.

In all cases, the maximum period considered when estimating expected credit losses is the maximum contractual period over which the Company is exposed to credit risk.

When determining whether the credit risk of a financial asset has increased significantly since initial recognition and when estimating expected credit losses, the Company considers reasonable and supportable information that is relevant and available without undue cost or effort. This includes both quantitative and qualitative information and analysis, based on the Company’s historical experience and informed credit assessment and including forward looking information.

The Company assumes that the credit risk on a financial asset has increased significantly if it is more than past due.

The Company considers a financial asset to be in default when:

the borrower is unlikely to pay its credit obligations to the Company in full, without recourse by the Company to actions such as realising security (if any is held); or
the financial asset is more than past due.

Measurement of expected credit losses

Expected credit losses are a probability weighted estimate of credit losses. Credit losses are measured as the present value of all cash shortfalls (i.e. the difference between the cash flows due to the Company in accordance with the contract and the cash flows that the Company expects to receive).

Presentation of allowance for expected credit losses in the balance sheet

Loss allowances for financial assets measured at amortised cost are deducted from the gross carrying amount of the assets.

Write-off

The gross carrying amount of a financial asset is written off (either partially or in full) to the extent that there is no realistic prospect of recovery. This is generally the case when the Company determines that the debtor does not have assets or sources of income that could generate sufficient cash flows to repay the amounts subject to the write off. However, financial assets that are written off could still be subject to enforcement activities in order to comply with the Company’s procedures for recovery of amounts due.

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ii) Impairment of non-financial assets

The Company’s non-financial assets, other than deferred tax assets, are reviewed at each reporting date to determine whether there is any indication of impairment. If any such indication exists, then the asset’s recoverable amount is estimated.

The Company’s corporate assets (e.g., head office building for providing support to various CGUs) do not generate independent cash inflows. To determine impairment of a corporate asset, recoverable amount is determined for the CGUs to which the corporate asset belongs.

An impairment loss in respect of assets for which has been recognised in prior periods, the Company reviews at each reporting date whether there is any indication that the loss has decreased or no longer exists. An impairment loss is reversed if there has been a change in the estimates used to determine the recoverable amount. Such a reversal is made only to the extent that the asset’s carrying amount does not exceed the carrying amount that would have been determined, net of depreciation or amortisation, if no impairment loss had been recognised.

G. Employee benefits

Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognised for the amount expected to be paid, if the Company has a present legal or constructive obligation to pay this amount as a result of past service provided by the employee, and the amount of obligation can be estimated reliably.

gratuity benefit through annual contribution to a fund managed by the Life Insurance Corporation of India (LIC). Such contributions are determined by LIC based on actuarial valuation using “”projected unit credit method”” as at the balance sheet date.

Remeasurement of the net defined benefit liability, which comprise actuarial gains and losses, the return on plan assets (excluding interest) and the effect of the asset ceiling (if any, excluding interest), are recognised in OCI. The Company determines the net interest expense/(income) on the net defined benefit liability/(asset) for the period by applying the discount rate used to measure the defined benefit obligation at the beginning of the annual period to the then-net defined benefit liability/(asset), taking into account any changes in the net defined benefit liability/ (asset) during the period as a result of contributions and benefit payments. Net interest expense and other expenses related to defined benefit plans are recognised in statement of profit and loss.

Share based payment

H. Revenue

The Company is primarily engaged in the business of rendering analytics services.

The Company has revenue from customer contracts. The Company recognizes revenue when it satisfies performance obligations under the terms of its contracts, and control of its services is transferred to its customers in an amount that reflects the consideration the Company expects to receive from its customers in exchange for those services. This process involves identifying the customer contract, determining the performance obligations in the contract, determining the contract price, allocating the contract price to the distinct performance obligations in the contract, and recognizing revenue when the performance obligations have been satisfied. A performance obligation is considered distinct from other obligations in a contract when it (a) provides a benefit to the customer either on its own or together with other resources that are readily available to the customer and (b) is separately identified in the contract.

Taxes assessed by a government authority that are both imposed on and concurrent with a specific revenueproducing transaction, that are collected by the Company from a customer, are excluded from sales.

Provident fund

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LatentView Analytics Annual Report 2023-2024

A defined contribution plan is a post-employment benefit plan under which an entity pays fixed contributions into a separate entity and will have no legal or constructive obligation to pay further amounts. The Company makes specified monthly contributions towards Government administered provident fund scheme. Obligations for contributions to defined contribution plans are recognised as an employee benefit expense in profit or loss in the periods during which the related services are rendered by employees.

Gratuity

The Company provides for gratuity, a defined benefit plan (the “Gratuity Plan”), covering eligible employees. The Plan provides payment to vested employees at retirement, death or termination of employment, of an amount based on the respective employee’s salary and the tenure of employment with the Company. The Company provides the

A performance obligation is satisfied over time if one of the following criteria are met:

the customer simultaneously receives and consumes the benefits as the entity performs;
the entity’s performance creates or enhances an asset that the customer controls as the asset is created or enhanced; or
the entity’s performance does not create an asset with an alternative use to the entity, and the entity has an enforceable right to payment for performance completed to date.

If control transfers over time, an entity selects a method to measure progress that is consistent with the objective of depicting its performance.

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Nature of services

The Company generally recognizes revenue for analytical services over time as the Company’s performance creates or enhances an asset that the customer controls from fixed price contracts and the customers simultaneously receives and consumes the benefits as and when the milestones are completed as per the terms of the contract. Revenue on time-and-material contracts are recognised as the related services are performed.

The Company has adopted the ‘as-invoiced’ practical expedient for performance obligation satisfied over time with respect to certain fixed price contracts. It permits an entity to recognize revenue in the amount to which it has a right to invoice the customer if that amount corresponds directly with the value to the customer of the entity’s performance completed to date.

Contract assets and liabilities

Contract assets are recognised when there is excess of revenue earned over billings on contracts. Unbilled revenue are classified as contract assets when there is conditional right to receive cash as per contractual terms.

The term between invoicing and when payment is due is not significant. As a practical expedient, the Company does not assess the existence of a significant financing component when the difference between payment and transfer of deliverables is one year or less.

Contract assets and contract liabilities are reported in a net position on an individual contract basis at the end of each reporting period. Contract assets are classified as current on the balance sheet when the Company expects to complete the related performance obligations and invoice the customers within one year of the balance sheet date, and as long-term when the Company expects to complete the related performance obligations and invoice the customers more than one year out from the balance sheet date. Contract liabilities are classified as current on the balance sheet when the revenue recognition associated with the related customer payments and invoicing is expected to occur within one year of the balance sheet date and as long-term when the revenue recognition associated with the related customer payments and invoicing is expected to occur in more than one year from the balance sheet date.

The Company records reimbursable out of pocket expenses in both revenue and respective expense head. the goods or services giving rise to the out-of-pocket costs do not transfer a good or service to the customer. Rather, the goods or services are used or consumed by the entity in fulfilling its performance obligation to the customer. Therefore, out-of-pocket costs (e.g. travel, meals, lodging) and the reimbursements of such costs from the customer are presented on a gross basis and are included as part of transaction price.

Government grants

Export benefits in the nature of duty drawback are accounted as income when there is no uncertainity in receiving the same duly considering the realisability.

Other Income

Dividend income is recognised when the right to receive payment is established by the balance sheet date.

The ‘effective interest rate’ is the rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial instrument to:

the gross carrying amount of the financial asset; or
the amortised cost of the financial liability.

I. Leases

The Company assesses whether a contract contains a lease,at inception of a contract. A contract is,or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. To assess whether a contract conveys the right to control the use of an identified asset,the Company assesses whether: (1) the contract involves the use of an identified asset (2) the Company has substantially all of the economic benefits from use of the asset through the period of the lease and (3) the Company has the right to direct the use of the asset.

At the date of commencement of the lease, the Company recognizes a right-of-use asset (“ROU”) and a corresponding lease liability for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low value leases. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a straight-line basis over the term of the lease.

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The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives.They are subsequently measured at cost less accumulated depreciation and impairment losses.

Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount(i.e.the higher of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate cashflows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash Generating Unit (CGU) to which the asset belongs.

The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the country of domicile of the leases.Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset if the Company changes its assessment if whether it will exercise an extension or a termination option.

Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as financing cash flows.

J. Income tax

i) Current tax

The Company benefits from the tax holiday available for units set up under the Special Economic Zone Act, 2005. These tax holidays are available for a period of fifteen years from the date of commencement of operations. Under the SEZ scheme, the unit which begins providing services on or after April 1, 2005 will be eligible for deductions of 100% of profits or gains derived from export of services for the first five years, 50% of such profits or gains for a further period of five years and 50% of such profits or gains for the balance period of five years subject to fulfilment of certain conditions.

ii) Deferred tax

The measurement of deferred tax reflects the tax consequences that would follow from the manner in which the Company expects, at the reporting date, to recover or settle the carrying amount of its assets and liabilities.

The Company has availed the tax holiday benefits under section 10AA of the Income Tax Act, 1961 and accordingly, its business income to the extent covered by the section is exempt from income tax up-to and including the year ending March 31, 2024. Deferred taxes that are scheduled to reverse during the tax holiday period are not recognised.

K. Segment reporting

Operating segments are reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker (CODM) of the Company. The CODM is responsible for allocating resources and assessing performance of the operating segments of the Company. For the disclosure on reportable segments see Note 24.

L. Cash and cash equivalents

Cash and Cash equivalents for the purpose of Cash Flow Statement comprise cash on hand, balances with bank and bank deposits having original maturity of less than 3 months.

M. Earnings per share

i) Basic earnings per share

Basic earnings per share is calculated by dividing:

a. the net profit attributable to owners of the Company;
b. by the weighted average number of equity shares outstanding during the Financial Year, adjusted for bonus elements in equity shares issued during the year and excluding treasury shares.

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ii) Diluted earnings per share

Diluted earning per share adjusts the figures used in the determination of basic earnings per share to take into account:

a. the after income tax effect of interest and other financing costs associated with dilutive potential equity shares; and
b. the weighted average number of additional equity shares that would have been outstanding assuming the conversion of all dilutive potential equity shares.

N. Investment in subsidiaries

A subsidiary is an enterprise in which the Company has control. Control is achieved when the Company:

Has power over the investee;
Is exposed or has rights, to variable returns from its involvement with the investee; and
Has the ability to use its power to affect its returns.

The Company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

Investment in subsidiaries is stated at cost less any impairment in net recoverable value that has been recognized in profit or loss.

O. Recent pronouncements

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Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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4. PROPERTY, PLANT AND EQUIPMENT

(See accounting policies in note 3(D)

Reconciliation of carrying amount

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Consolidated Financial Statement Standalone Financial Statement

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(See accounting policies in note 3(D) Reconciliation of carrying amount
Asset description	Gross carrying amount Accumulated depreciation/impairment Net carrying amount
	April 1, 2023 Additions Deletions/ adjustments March 31, 2024 April 1, 2023 Charge Accumulated depriciation on disposals/write off March 31, 2024 March 31, 2024 March 31, 2023
Leasehold improvements	2.84 - - 2.84 2.31 0.09 - 2.40 0.44 0.53
Computers	125.46 60.94 32.07 154.33 79.70 35.30 32.07 82.93 71.40 45.76
Furniture and fxtures	10.60 - - 10.60 8.54 1.41 - 9.95 0.65 2.06
Offce equipment	4.34 3.36 - 7.70 2.76 0.78 - 3.54 4.17 1.58
Electrical equipment	4.51 0.32 - 4.83 3.87 0.78 - 4.65 0.18 0.64
Total	147.75 64.62 32.07 180.30 97.18 38.36 32.07 103.47 76.84 50.57

Asset description	Gross carrying amount Accumulated depreciation/impairment Net carrying amount
	April 1, 2022 Additions Deletions/ adjustments March 31, 2023 April 1, 2022 Charge Accumulated depriciation on disposals/write off March 31, 2023 March 31, 2023 March 31, 2022
Leasehold improvements	2.84 - - 2.84 1.81 0.50 - 2.31 0.53 1.03
Computers	107.61 17.85 - 125.46 49.06 30.64 - 79.70 45.76 58.55
Furniture and fxtures	10.60 - - 10.60 6.40 2.14 - 8.54 2.06 4.20
Offce equipment	3.90 0.44 - 4.34 2.30 0.46 - 2.76 1.58 1.60
Electrical equipment	4.51 - - 4.51 2.85 1.02 - 3.87 0.64 1.66
Total	129.46 18.29 - 147.75 62.43 34.76 - 97.18 50.57 67.03

5. RIGHT-OF-USE ASSETS

(See accounting policies in note 3(I))

Reconciliation of carrying amount

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5. RIGHT-OF-USE ASSETS (See accounting policies in note 3(I)) Reconciliation of carrying amount
Asset description	Gross carrying amount Accumulated depreciation Net carrying amount
	April 1, 2023 Additions Deletions/ adjustments March 31, 2024 April 1, 2023 Charge Accumulated depriciation on disposals March 31, 2024 March 31, 2024 March 31, 2023
Building	318.34 51.40 - 369.74 157.52 42.44 - 199.96 169.77 160.80
Total	318.34 51.40 - 369.74 157.52 42.44 - 199.96 169.77 160.80

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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5. RIGHT-OF-USE ASSETS (Contd.)

5. RIGHT-OF-USE ASSETS(Contd.)
Asset description	Gross carrying amount Accumulated depreciation Net carrying amount April 1, 2022 Additions Deletions/ adjustments March 31, 2023 April 1, 2022 Charge Accumulated depriciation on disposals March 31, 2023 March 31, 2023 March 31, 2022
Building	318.34 - - 318.34 118.14 39.38 - 157.52 160.80 200.19
Total	318.34 - - 318.34 118.14 39.38 - 157.52 160.80 200.19

The aggregate depreciation expense on ROU asset is included under depreciation and amortization expense in the Financial Statements.

*The adjustment on account of foreign currency translation of the gross block and accumulated depreciation has been netted off.

6. OTHER INTANGIBLE ASSETS

(See accounting policies in note 3(E))

Reconciliation of carrying amount

6. OTHER INTANGIBLE ASSETS (See accounting policies in note 3(E)) Reconciliation of carrying amount
Asset description	Gross carrying amount Accumulated amortisation/impairment Net carrying amount
	April 1, 2023 Additions Deletions/ adjustments March 31, 2024 April 1, 2023 Charge Accumulated amortisation on disposals March 31, 2024 March 31, 2024 March 31, 2023
Acquired software	4.25 - - 4.25 4.14 0.11 - 4.25 - 0.11
Total	4.25 - - 4.25 4.14 0.11 - 4.25 - 0.11

Asset description	Gross carrying amount Accumulated amortisation/impairment Net carrying amount
	April 1, 2022 Additions Deletions/ adjustments March 31, 2023 April 1, 2022 Charge Accumulated amortisation on disposals March 31, 2023 March 31, 2023 March 31, 2022
Acquired software	4.25 - - 4.25 4.11 0.03 - 4.14 0.11 0.14
Total	4.25 - - 4.25 4.11 0.03 - 4.14 0.11 0.14

7. INCOME TAXES

(See accounting policies in note 3(J))

7.1 Tax expense comprise the following:

Amount recognised in statement of profit and loss

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LatentView Analytics Annual Report 2023-2024

7. INCOME TAXES (See accounting policies in note 3(J)) 7.1 Tax expense comprise the following: Amount recognised in statement of proft and loss
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Current tax	399.59	328.12
Deferred tax charge/(beneft)	7.14	(4.78)
Income tax expense reported in the statement ofproft or loss	406.73	323.34

(All amounts are in millions of Indian Rupees, unless stated otherwise)

214

7.2 Income tax recognized in other comprehensive income

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7.2 Income tax recognized in other comprehensive income
Particulars	Before tax	Tax (expense)/beneft	Net of tax
Re-measurement of defned beneftplans
As at March 31, 2024	(7.74)	2.25	(5.49)
As at March 31, 2023	(1.00)	0.29	(0.71)

7.3 Reconciliation of effective tax rate

7.3 Reconciliation of effective tax rate
Particulars	2023-24 2022-23
	Total % Total %
Charge/(credit) for theyear	406.73 323.34
Reconciliation of tax charge:
Proft before taxation	1,539.41 1,495.70
Tax usingthe Company's domestic tax rate	448.28 29.12% 435.55 29.120%
Effect of:
Impact on account of tax holiday	(43.42) -2.82% (115.14) -7.70%
Expenses not deductable for taxpurposes	3.24 0.21% 2.38 0.16%
Others	(1.37) -0.09% 0.55 0.04%
Effective tax rate	406.73 26.42% 323.34 21.62%

Notice to the AGM

7.4 Deferred tax assets and (liabilities) are attributable to the following

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7.4 Deferred tax assets and (liabilities) are attributable to the following
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Deferred tax relates to the following:
Property,plant and equipment and other intangible assets	7.88	5.43
Ind AS 116 impact	13.54	6.97
Notional interest on fnancial instruments carried at amortised cost	4.91	2.46
Premium on amortisation of investment in bonds	3.53	2.46
Others	3.67	1.56
Fair value throughproft and loss of mutual funds	(25.77)	(3.86)
Derivative at fair value throughproft and loss	0.89	(1.49)
Minimum alternate tax credit available for utilisation	46.75	177.25
	55.40	190.79

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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7.5 Movement in temporary differences

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7.5 Movement in temporary differences
Particulars	Balance as at	Recognised in	Recognised in OCI	Minimum alternate	Balance as at
	April 1, 2023	proft or loss during 2023-24	during 2023-24	tax utilised during 2023-24	March 31, 2024
Property,plant and equipment	5.43	2.45	-	-	7.88
Ind AS 116 impact	6.97	6.57	-	-	13.54
Fair value throughproft and loss of mutual funds	(3.86)	(21.91)	-	-	(25.77)
Notional interest on fnancial instruments carried at amortised cost	2.46	2.45	-	-	4.91
Premium on amortisation of bonds	2.46	1.07	-	-	3.53
Derivative at fair value throughproft and loss	(1.49)	2.38	-	-	0.89
Minimum alternate tax availed/(utilised)	177.25	-	-	(130.50)	46.75
Others	1.56	2.11	-	-	3.67
Employee benefts	-	(2.25)	2.25	-	-
	190.79	(7.14)	2.25	(130.50)	55.40

	Balance as at	Recognised in	Recognised in OCI	Minimum alternate	Balance as at
	April 1, 2022	proft or loss during	during 2022-23	tax utilised during	March 31, 2023
		2022-23		2022-23
Property,plant and equipment	7.31	(1.88)	-	-	5.43
Ind AS 116 impact	6.76	0.21	-	-	6.97
Fair value throughproft and loss of mutual funds	(9.65)	5.79	-	-	(3.86)
Notional interest on fnancial instruments carried at amortised cost	2.22	0.24	-	-	2.46
Premium on amortisation of bonds	1.83	0.63	-	-	2.46
Derivative at fair value throughproft and loss	-	(1.49)	-	-	(1.49)
Minimum alternate tax availed/(utilised)	243.98	-	-	(66.73)	177.25
Others	-	1.56	-	-	1.56
Employee benefts	-	(0.29)	0.29	-	-
	252.45	4.78	0.29	(66.73)	190.79
7.6 Other tax assets (net)
Particulars				As at	As at
				March 31, 2024	March 31, 2023
Advance income tax, net ofprovision				19.66	3.06

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

216

7.7 Current Tax liabilities (net)

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7.7 Current Tax liabilities (net)
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Provision for income tax, net of advance tax	-	7.92

8. FINANCIAL ASSETS

8.1 Investments

(See accounting policies in note 3(C))

8.1.1Investment in subsidiaries-equity shares at cost-Unquoted

8. FINANCIAL ASSETS 8.1 Investments (See accounting policies in note 3(C)) 8.1.1Investment in subsidiaries-equity shares at cost-Unquoted
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
LatentView Analytics Corporation, USA 2,000 (March 31, 2023 - 2,000) equity shares of USD 0.01 each fully paid up	0.00 - 0.00 0.00 - 0.00
LatentView Analytics Pte Limited, Singapore 20,000 (March 31, 2023 - 20,000) equity shares of SGD 1.00 each fully paid up	0.84 - 0.84 0.84 - 0.84
LatentView Analytics UK Limited, United Kingdom 20,000 (March 31, 2023 - 20,000) equity shares of GBP 1.00 each fully paid up	1.97 - 1.97 1.97 - 1.97
LatentView Analytics B.V, Netherlands 20,000 (March 31, 2023 - 20,000) equity shares of Euro 1.00 each fully paid up	1.52 - 1.52 1.52 - 1.52
	4.33 - 4.33 4.33 - 4.33

8.1.2 Investment in debt instruments

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8.1.2 Investment in debt instruments
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Quoted, carried at fair value throughproft or loss
Investments in mutual funds	- 1,719.12 1,719.12 - 428.20 428.20
Investments in market linked debenture	- 275.83 275.83 - 256.15 256.15
	- 1,994.95 1,994.95 - 684.35 684.35
Quoted, carried at amortised cost
Investment in bonds	2,846.15 582.98 3,429.13 2,452.37 699.51 3,151.88
Interest accrued on investments	17.69 83.41 101.10 3.50 67.35 70.85
	2,863.84 666.39 3,530.23 2,455.87 766.86 3,222.73
	2,868.17 2,661.34 5,529.51 2,460.20 1,451.21 3,911.41

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

217

8.1.3 Details of quoted and unquoted investments

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8.1.3 Details of quoted and unquoted investments
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Aggregate book value ofquoted non-current investments	2,846.15 2,577.93 5,424.08 2,452.37 1,383.86 3,836.23
Aggregate market value ofquoted non-current investments	2,846.15 2,577.93 5,424.08 2,452.37 1,383.86 3,836.23
Aggregate value of unquoted non-current investments	4.33 - 4.33 4.33 - 4.33
Aggregate amount of impairment in value of investments	- - - - - -

8.1.4 Details of investment in mutual funds are as follows

8.1.4 Details of investment in mutual funds are as follows
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
63,253 (March 31, 2023: 63,253) units of Axis Banking& PSU Debt Fund - Regular Growthplan	- 151.05 151.05 - 141.28 141.28
855,958 (March 31, 2023: NIL) units of ICICI Prudential Bond Fund - Direct Plan Growth	- 32.67 32.67 - - -
12,184,804 (March 31, 2023: NIL) units of Tata Banking& PSU Debt Fund - Regular Plan - Growth	- 158.42 158.42 - - -
2,038,115 (March 31, 2023: NIL) units of HDFC Bankingand PSU Debt Fund - Regular Plan - Growth	- 42.45 42.45 - - -
447,353 (March 31, 2023: NIL) units of ICICI Prudential MoneyMarket Fund - Direct Plan - Growth	- 156.23 156.23 - - -
3,749,958 (March 31, 2023: NIL) units of ICICI Prudential Corporate Bond fund - Direct Plan - Growth	- 105.54 105.54 - - -
1,066,496 (March 31, 2023: NIL) units of HDFC Corporate Bond Fund - Regular - Growth	- 31.29 31.29 - - -
698,902 (March 31, 2023: NIL) units of HDFC Corporate Bond Fund - Direct - Growth	- 20.89 20.89 - - -
2,733,388 (March 31, 2023: NIL) units of Sundaram Corporate Bond Fund Direct Growth	- 102.23 102.23 - - -
183,714 (March 31, 2023: NIL) units of Sundaram Liquid Fund Direct Growth	- 391.74 391.74 - - -
53,495 (March 31, 2023: NIL) units of HDFC Liquid Fund - Direct - Growth	- 251.32 251.32 - - -
NIL (March 31, 2023: 10,945,623) Units of BHARAT BOND FOF April 2023 - Regular - Growth	- - - - 133.76 133.76
12,038,747 (March 31, 2023: NIL) Units of BHARAT BOND FOF April 2025 - Regular - Growth	- 143.53 143.53 - - -
11,936,138 (March 31, 2023: 11,936,138) Units of HDFC NiftyG SEC DEC 2026	- 131.76 131.76 - 122.84 122.84
NIL (March 31, 2023: 90,991) ICICI Prudential Liquid Fund - Direct Plan - Growth	- - - - 30.32 30.32
	- 1,719.12 1,719.12 - 428.20 428.20
Details of investment in market linked debenture are as follows
250 (March 31, 2023 - 250) units of Kotak Mahindra Investments Limited MLD August 27, 2024	- 275.83 275.83 - 256.15 256.15
Details of Investment inquoted bonds carried at amortised cost
20 (March 31, 2023 - 20) units of 6.42% National Bank for Agriculture and Rural Development 2030	20.04 - 20.04 20.06 - 20.06
100 (March 31, 2023 - 100) units of 6.50% Power Finance Corporation Limited bonds 2025	100.48 - 100.48 100.81 - 100.81
150 (March 31, 2023 - 150) units of 7.41% Power Finance Corporation Limited bonds 2030	152.46 - 152.46 152.87 - 152.87

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

218

8.1.4 Details of investment in mutual funds are as follows (Contd.)

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8.1.4 Details of investment in mutual funds are as follows(Contd.)
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
50 (March 31, 2023 - 50) units of 7.68% Power Finance Corporation Limited bonds 2030	51.31 - 51.31 51.51 - 51.51
281 (March 31, 2023 - 281) units of 9.25% Power Finance Corporation Limited bonds 2024	- 283.07 283.07 287.32 - 287.32
100 (March 31, 2023 - 100) units of 6.09% Power Finance Corporation Limited bonds 2026	99.87 - 99.87 99.81 - 99.81
200 (March 31, 2023 - 200) units of 5.94% Rural Electrifcation Corporation Limited bonds 2026	198.83 - 198.83 198.20 - 198.20
100 (March 31, 2023 - 100) units of 6.88% Rural Electrifcation Corporation Limited bonds 2025	- 99.89 99.89 99.78 - 99.78
50 (March 31, 2023 - 50) units of 6.99% Rural Electrifcation Corporation Limited bonds 2024	- 49.99 49.99 49.98 - 49.98
50 (March 31, 2023 - 50) units of 7.96% Rural Electrifcation Corporation Limited bonds 2030	51.74 - 51.74 52.02 - 52.02
24 (March 31, 2023 - 24) units of 8.75% Rural Electrifcation Corporation Limited bonds 2025	24.52 - 24.52 24.93 - 24.93
50 (March 31, 2023 - 50) units of 7.52% Rural Electrifcation Corporation Limited bonds 2026	51.71 - 51.71 52.37 - 52.37
200 (March 31, 2023 - 200) units of 5.63% Government of India bonds 2026	198.61 - 198.61 197.93 - 197.93
NIL (March 31, 2023 - 150) units of 6.80% Rural Electrifcation Corporation Limited bonds 2023	- - - - 150.01 150.01
NIL (March 31, 2023 - 200) units of 5.70% National Bank for Agriculture and Rural Development 2025	- - - 197.10 - 197.10
50 (March 31, 2023 - 50) units of 6.00% HousingDevelopment Finance Corporation Limited 2026	49.39 - 49.39 49.10 - 49.10
1,500,000 (March 31, 2023 - 1,500,000) units of 5.74% Government Securities 2026	146.87 - 146.87 145.68 - 145.68
1,000,000 (March 31, 2023 - 1,000,000) units of 7.35% Government of India bonds 2024	- 100.14 100.14 100.74 - 100.74
NIL (March 31, 2023 - 100) units of 5.96% Kotak Mahindra Prime Limited 2024	- - - - 100.02 100.02
50 (March 31, 2023 - 50) units of 5.75% Axis Finance Limited 2024	- 49.89 49.89 49.64 - 49.64
300 (March 31, 2023 - 300) units of 7.40% HousingDevelopment Finance Corporation Limited 2025	300.26 - 300.26 300.48 - 300.48
120 (March 31, 2023 - 120) units of Zero Coupon bond Housingand Development Board 2026	121.05 - 121.05 121.86 - 121.86
NIL (March 31, 2023 - 450) units of 7.28% HousingDevelopment Finance Corporation Limited 2024	- - - - 449.48 449.48
100 (March 31, 2023 - 100) units of 8.01% Kotak Mahindra Investment Limited 2025	100.11 - 100.11 100.18 - 100.18
3,500,000 (March 31, 2023 - NIL) units of 7.26% Government Securities 2033	350.07 - 350.07 - - -
500 (March 31, 2023 - NIL) units of 7.62% National Bank for Agriculture and Rural Development 2028	49.96 - 49.96 - - -
1,015,000 (March 31, 2023 - NIL) units of 7.62% CSSTRIP Government Securities 2027	76.97 - 76.97 - - -
2,000 (March 31, 2023 - NIL) units of 7.70% HDFC NCD 2028	200.21 - 200.21 - - -
50 (March 31, 2023 - NIL) units of 8.34% Sate Bank of India Perpetual bond 2034	501.69 - 501.69 - - -
	2,846.15 582.98 3,429.13 2,452.37 699.51 3,151.88

Corporate bonds classified at amortised cost have interest rates of 5.63% to 9.25% and would mature in 1 to 10 years.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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8.2 Trade receivables

(See accounting policies in note 3(C))

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8.2 Trade receivables (See accounting policies in note 3(C))
Particulars	As at March 31, 2024 As at March 31, 2023
Unsecured, consideredgood	61.60 35.59
Total trade receivables from relatedparties	960.04 470.97
Less:Loss allowance	- -
Net Trade receivables	1,021.64 506.56
Non-current	- -
Current	1,021.64 506.56
	1,021.64 506.56
The Company’s exposure to credit and currency risks, and loss allowances relating to trade receivables are disclosed in Note 22. 8.2.1 The ageing schedule for trade receivables is as under:
Particulars Not Due	Outstandingfor following periods from due date ofpayment
	Less than 6 months 6 months - 1year 1-2 years 2-3 years More than 3years Total
Undisputed trade receivables - Consideredgood
March 31, 2024 988.85	32.79 - - - - 1,021.64
March 31, 2023 506.56	- - - - - 506.56
Undisputed Trade Receivables - which have signifcant increase in credit risk
March 31, 2024 -	- - - - - -
March 31, 2023 -	- - - - - -
Undisputed Trade Receivables - credit impaired
March 31, 2024	- - - - - -
March 31, 2023	- - - - - -
Total
March 31, 2024 988.85	32.79 - - - - 1,021.64
March 31, 2023 506.56	- - - - - 506.56

Note: There no disputed trade receivables as of March 31, 2024 and March 31, 2023.

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Notice to the AGM

8.3 Cash and cash equivalents

8.3 Cash and cash equivalents
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Cash on hand	0.02	-
Balances with banks
- in current accounts	62.40	71.78
- in deposit accounts(with original maturityof 3 months or less)	400.00	-
Total	462.42	71.78

8.4 Bank balances other than cash and cash equivalents

8.4 Bank balances other than cash and cash equivalents
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Bank deposits(with original maturityof more than 3 months but less than 12 months)	1,002.41	3,560.33
Total bank balance other than cash and cash equivalents	1,002.41	3,560.33

Note: The Bank Balances other than Cash and Cash Equivalents mentioned above includes an amount of 751.10 millions towards unutilized IPO proceeds as at March 31, 2024 having interest rates of 7% - 7.35%, (March 31, 2023: 2479 millions having interest rates of 6.1% - 7.55%) held as the deposits with banks.

8.5 LOANS

8.5 LOANS
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Unsecured, consideredgood
Loans and advances to relatedparties (Refer note 14.7)	1,332.50 272.52 1,605.02 507.75 566.56 1,074.31
	1,332.50 272.52 1,605.02 507.75 566.56 1,074.31

8.6 OTHER FINANCIAL ASSETS

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LatentView Analytics Annual Report 2023-2024

8.6 OTHER FINANCIAL ASSETS
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Unsecured, consideredgood
Interest accrued on bank deposits	- 74.33 74.33 2.48 105.10 107.58
Forward contract assets	- - - - 5.10 5.10
Interest receivable on loans to relatedparties (Refer note 14.3)	- 28.57 28.57 - 19.29 19.29
Securitydeposits (Refer note 8.6.1 below)	32.35 - 32.35 28.74 30.00 58.74
Other receivables from relatedparties (Refer note 14.3)	- 41.09 41.09 - 20.76 20.76

(All amounts are in millions of Indian Rupees, unless stated otherwise)

221

8.6 OTHER FINANCIAL ASSETS (Contd.)

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8.6 OTHER FINANCIAL ASSETS(Contd.)
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Deposits with banks having remaining maturity of more than 3 months but less than 12 months (Refer note 8.6.2)	- 1,261.41 1,261.41 197.02 119.47 316.49
	32.35 1,405.40 1,437.75 228.24 299.72 527.96

8.6.1 Note: Represents security deposits being discounted at 6.1% to 6.6% having a term of 4 to 5 years.

8.6.2 Note: The Other Financial Assets mentioned above includes an amount of ` 729.00 millions towards unutilized IPO proceeds as at March 31, 2024 having interest rates of 7.3% - 7.55%, (March 31, 2023: Nil) held in the form of deposits with banks.

9.1 CONTRACT ASSETS

9.1 CONTRACT ASSETS
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Contract assets (Unbilled revenue)	-	4.90
	-	4.90

9.2 OTHER ASSETS

9.2 OTHER ASSETS
Particulars	As at March 31, 2024 As at March 31, 2023
	Non-Current Current Total Non-Current Current Total
Unsecured,consideredgood
Prepaid expenses	- 21.00 21.00 - 22.10 22.10
Other advances(includingadvances to vendors)	- 2.80 2.80 - 4.33 4.33
Advances to employees	- 3.28 3.28 - 2.36 2.36
Balance withgovernment authorities*	20.17 - 20.17 52.98 - 52.98
	20.17 27.08 47.25 52.98 28.79 81.77

10. EQUITY SHARE CAPITAL AND OTHER EQUITY

Number of shares are in absolute numbers.

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LatentView Analytics Annual Report 2023-2024

10. EQUITY SHARE CAPITAL AND OTHER EQUITY Number of shares are in absolute numbers.
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares Amount No. of shares Amount
Authorised
Equity shares of`1 each	30,00,00,000 300.00 30,00,00,000 300.00
Issued,subscribed andpaid up
Equityshares of`1 each fully paid up	20,59,03,951 205.90 20,49,01,506 204.90

(All amounts are in millions of Indian Rupees, unless stated otherwise)

222

10.1 Reconciliation of share outstanding at the beginning and at the end of the reporting period

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10.1 Reconciliation of share outstanding at the beginning and at the end of the reporting period
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares Amount No. of shares Amount
At the time of commencement of theperiod	20,49,01,506 204.90 20,04,21,998 200.42
Add:Exercise of share options (Refer note 10.1.3)	10,02,445 1.00 44,79,508 4.48
At the end of theperiod	20,59,03,951 205.90 20,49,01,506 204.90

10.1.1 Details of promoter’s holding:

10.1.1 Details of promoter’s holding:
Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares % Total shares % change during theyear No. of shares % Total shares % change during theyear
Mr. A.V.Venkatraman	11,79,06,923 57.26% -0.28% 11,79,06,923 57.54% -1.29%
Ms. Pramadwathi Jandhyala	1,68,00,000 8.16% -0.04% 1,68,00,000 8.20% -0.18%
	13,47,06,923 65.42% -0.32% 13,47,06,923 65.74% -1.47%

10.1.1.1During the year ended March 31, 2022, the Board of Directors and shareholders of the Company at their meeting held on August 3, 2021, have approved capitalization of the free reserves of the Company for issuance of 20	10.1.1.1During the year ended March 31, 2022, the Board of Directors and shareholders of the Company at their meeting held on August 3, 2021, have approved capitalization of the free reserves of the Company for issuance of 20
bonus shares for every one fully paid equity shares, having face value of`1 per share.
Number of equityshares as of August 3, 2021	82,72,425
Number of equityshares with bonus shares (20 equityshares for everyone share held)	17,37,20,925

Notice to the AGM

Except for the above, aggregate number of shares issued for consideration other than cash during the period of five years immediately preceding the reporting date is nil.

10.1.1.2 During the year ended March 31, 2022, the Company had completed its initial public offer (IPO) of 30,489,362 equity shares of face value of 1 each at an issue price of 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Company had recieved an amount of 4,466.78 millions (net off Company’s share of IPO Expenses 304.87 millions (retained in the Monitoring Agency Account to the extent unpaid) from the proceeds of the fresh issue. Out of the Company’s share of IPO Expenses 256.59 millions had been adjusted to securities premium and related GST of 31.87 millions had been adjusted to securities premium.

10.1.2 Details of equity shares held by shareholders holding more than 5% of the aggregate equity shares in the Company:

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Particulars	As at March 31, 2024 As at March 31, 2023
	No. of shares % Total shares No. of shares % Total shares
Equityshares of`1 each fully paid held by
Mr. A.V.Venkatraman	11,79,06,923 57.26% 11,79,06,923 57.54%
Ms. Pramadwathi Jandhyala	1,68,00,000 8.16% 1,68,00,000 8.20%
Mr. Ramesh Hariharan	74,38,081 3.61% 1,36,37,712 6.66%
Mr. Gopinath Koteeswaraan	1,00,37,514 4.87% 1,10,40,761 5.39%

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

10.1.3 Employee stock options

10.1.4 Rights, preferences and restrictions attached to equity shares

The voting rights of an equity shareholder on a poll (not on show of hands) are in proportion to its share of the paid-up equity capital of the Company. Voting rights cannot be exercised in respect of shares on which any call or other sums presently payable have not been paid. On winding up of the Company, the holders of equity shares will be entitled to receive the residual assets of the Company, remaining after distribution of all the preferential amounts in proportion to the number of equity shares held.

10.2 Other equity

10.2 Other equity
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Reserves and surplus:
Securitiespremium (Refer note 10.2.1)	4,647.17	4,608.18
Employee share option reserve (Refer note 10.2.4)	64.89	49.89
General reserve (Refer note 10.2.2)	11.32	11.32
Special Economic Zone (SEZ) Re-investment Reserve (Refer note 10.2.6)	50.00	-
Retained earnings (Refer note 10.2.3)	6,039.88	4,962.69
	10,813.26	9,632.08

Analysis of items of OCI, net of taxes

Re-measurement defined benefit plans

Analysis of items of OCI, net of taxes Re-measurement defned beneft plans
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Openingbalance	-	-
Re-measurement of defned beneft liability/(asset) (Refer note 10.2.5)	(5.49)	(0.71)
Less:Transferred to retained earnings	5.49	0.71
Closingbalance	-	-

10.2.1 Securities premium represents the premium collected on issuance of equity shares. The reserve is utilized in accordance with provisions of Companies Act, 2013.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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10.2.3 Retained earnings are the accumulate profits of the Company made till date.

10.2.4 The Company has established various equity-settled share-based payment plans for certain categories of employees of the Company. Refer to note 15 for further details of these plans.

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report

3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

10.2.5 Remeasurements of defined benefit (liability)/asset comprises actuarial gains and losses and return on plan assets (excluding interest income).

10.2.6 The Special Economic Zone (SEZ) Re-investment Reserve has been created out of the profit of eligible SEZ units in terms of the provisions of Sec 10AA(1)(ii) of Income-tax Act, 1961. The reserve should be utilized by the Company for acquiring new plant and machinery for the purpose of its business in the SEZ unit as per the terms of the Sec 10AA(2) of the Income-tax Act, 1961.

11. FINANCIAL LIABILITIES

11.1 Trade payables

11. FINANCIAL LIABILITIES 11.1 Trade payables
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Total oustandingdues to micro and small enterprises (refer note 11.1.2)	-	0.98
Total oustandingdues to other than micro and small enterprises	50.95	22.13
	50.95	23.11

11.1.1 The ageing schedule for trade payables is as under:

11.1.1 The ageing schedule for trade payables is as under:
Particulars	Outstandingfor following periods from the date of invoice
	Unbilled dues/ Accrued expenses Less than 1year 1-2 years 2-3 years More than 3years Total
Undisputed dues to:
March 31, 2024:
Micro and small enterprises	- - - - - -
Others	0.09 0.77 - 0.18 1.02 2.05
Unbilled/Accrued expenses	48.90 - - - - 48.90
Total	48.99 0.77 - 0.18 1.02 50.95
March 31, 2023:
Micro and small enterprises	- 0.98 - - - 0.98
Others	- 5.14 - - - 5.14
Unbilled/Accrued expenses	16.99 - - - - 16.99
Total	- 6.12 - - - 23.11

Note: There are no disputed payables as of March 31, 2024 and March 31, 2023.

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The Company’s exposure to currency and liquidity risk related to trade payables is disclosed in note 22.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Notice to the AGM

11.1.2 Dues to micro enterprises and small enterprises

The Ministry of Micro, Small and Medium Enterprises has issued an office memorandum dated August 26, 2008 which recommends that the Micro and Small Enterprises should mention in their correspondence with its customers the Entrepreneurs Memorandum Number as allocated after filing of the Memorandum in accordance with the Micro, Small and Medium Enterprise Development Act, 2006 (‘the Act’). Accordingly, the disclosure in respect of the amounts payable to such enterprises as at March 31, 2024 and March 31, 2023 has been made in the Financial Statements based on information received and available with the Company. Further in view of the Management, the impact of interest, if any, that may be payable in accordance with the provisions of the Act is not expected to be material. The Company has not received any claim for interest from any supplier as at the balance sheet date.

Particulars	As at	As at
	March 31, 2024	March 31, 2023
Principal amount due to the suppliers registered under MSMED Act and remainingunpaid as atyear end	-	0.98
Interest due to suppliers registered under MSMED Act and remainingunpaid as atyear end	-	-
The amount of interest paid by the buyer in terms of section 16 of the Micro, Small and Medium Enterprises Development Act, 2006, along with the amount of the payment made to the supplier beyond the appointed dayduringtheyear	-	-
The amount of interest due and payable for the period of delay in making payment (which have been paid but beyond the appointed day during the year) but without adding the interest specifed under the Micro, Small and Medium Enterprises Development Act, 2006	-	-
The amount of interest accrued and remainingunpaid at the end of each accounting year; and	-	-
The amount of further interest remaining due and payable even in the succeeding years, until such date when the interest dues above are actually paid to the small enterprise, for the purpose of disallowance of a deductible expenditure under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006 Further due and remaining for the earlieryears.	-	-

11.2 Lease liabilities

11.2 Lease liabilities
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Current lease liabilities	42.49	58.93
Non-current lease liabilities	179.39	149.77
	221.88	208.70
Maturityanalysis - contractual undiscounted cash fows
Not later than oneyear	60.51	58.93
Later than oneyear and not later than fveyears	206.83	196.94
More than fveyears	-	-
Total undiscounted lease liabilities	267.34	255.87

Amounts recognised in statement of profit or loss:

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LatentView Analytics Annual Report 2023-2024

Amounts recognised in statement of proft or loss:
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Interest on lease liabilities	21.64	19.51
Amortisation of right of use assets	42.44	39.38
Expenses relatingto short-term leases	32.56	34.37
Total expenses	96.64	93.26

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Amounts recognized in the statement of cash flows:

Amounts recognized in the statement of cash fows:
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Total cash outfow towards leasepayments (excludingshort-term leases)	59.87	57.44

The Company does not face a significant liquidity risk with regard to its lease liabilities as the current assets are sufficient to meet the obligations related to lease liabilities as and when they fall due. Rental expense recorded for short-term leases was 32.56 millions for the year ended March 31, 2024 (March 31, 2023 - 34.37 millions).

Reconciliation of movements of liabilities to cashflows arising from financing activities:

Reconciliation of movements of liabilities to cashfows arising from fnancing activities:
	Equity Liabilities Total Equity share capital Share application money pendingallotment Securities premium Lease liability
Balance as at April 1, 2023	204.90 - 4,608.18 208.70 5,021.78
Changes from fnancingcash fows
Proceeds from exercise of share options	1.00 - 53.89 - 54.89
Payment of lease liabilities	- - - (59.87) (59.87)
Total changes from fnancingcash fows	1.00 - 53.89 (59.87) (4.98)
Other changes
Interest expense	- - - 21.64 21.64
Share options exercised (Refer note 15)	- - 16.97 - 16.97
Other changes	- - - 51.41 51.41
Sharepremium on IPO	- - (31.87) - (31.87)
Total other changes	- - (14.90) 73.05 58.15
Balance as at March 31, 2024	205.90 - 4,647.17 221.88 5,074.95
Balance as at April 1, 2022	200.42 - 4,523.01 246.64 4,970.07
Changes from fnancingcash fows
Proceeds from exercise of share options	4.48 - 65.09 - 69.57
Payment of lease liabilities	- - - (57.44) (57.44)
Share issue expenses	- - - - (46.30)
Finance costspaid	- - - - -
Total changes from fnancingcash fows	4.48 - 65.09 (57.44) (34.17)
Other changes
Interest expense	- - - 19.51 19.51
Share options exercised (Refer note 15)	- - 20.08 - 20.08

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements Consolidated Financial Statement Standalone Financial Statement

Reconciliation of movements of liabilities to cashflows arising from financing activities: (Contd.)

	Equity Liabilities Total Equity share capital Share application money pendingallotment Securities premium Lease liability
Shares alloted duringtheyear	- - - - -
Share issue expenses unpaid	- - - - -
Bonus share issued duringtheyear	- - - - -
Finance costspaid	- - - - -
Total other changes	- - 20.08 19.51 39.59
Balance as at March 31, 2023	204.90 - 4,608.18 208.70 4,975.49

11.3 Other financial liabilities

11.3 Other fnancial liabilities
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Forward contract liabilities	3.07	-
Dues to capital creditors - other dues*	23.49	-
	26.56	-

*There are no dues with respect to payment to micro enterprises and small enterprises.

Notice to the AGM

12. PROVISIONS

(See accounting policy in Note 3(G))

12. PROVISIONS (See accounting policy in Note 3(G))
	As at	As at
	March 31, 2024	March 31, 2023
Provision for employee benefts (refer Note 12.1.2)	30.19	18.13
Provision forgratuity	30.19	18.13

12.1 Disclosures relating to defined benefit plan - gratuity

A. Funding

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B. Reconciliation of the net defined benefit (asset) liability

The following table shows a reconciliation from the opening balances to the closing balances for the net defined benefit (asset) liability and its components.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements Consolidated Financial Statement

Standalone Financial Statement

Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

12.1.1 The status of net defined benefit obligation is as under:

12.1.1 The status of net defned beneft obligation is as under:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Present value of defned beneft obligation	91.49	62.60
Fair value ofplan assets	(61.30)	(44.47)
Net defned beneft obligation(defcit)	30.19	18.13
12.1.2 The classifcation of net defned beneft obligation as of year end is as under:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Current	-	-
Non-current	30.19	18.13
Net defned beneft obligation	30.19	18.13
12.1.3 Reconciliation in present value of defned beneft obligation is listed below:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Defned beneft obligation at the beginningof theyear	62.60	45.94
Current service cost	20.68	15.35
Past service cost	-	-
Interest on defned beneft obligation	4.20	2.72
Beneftspaid	(4.20)	(2.91)
Re-measurement loss/(gain):
- Actuarial loss/(gain)arisingfrom fnancial assumptions	0.56	(1.56)
- Actuarial loss/(gain)arisingfrom demographic assumptions	8.65	-
- Actuarial loss/(gain)arisingfrom experience adjustments	(1.00)	3.05
Defned beneft obligation at the end of theyear	91.49	62.60
12.1.4 Reconciliation in plan assets is presented below:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Fair value ofplan assets at the beginningof theyear	44.47	33.01
Interest income	3.10	2.08
Employer contributions	17.47	11.79
Beneftspaid	(4.20)	(2.91)
Re-measurementgain	-	-
- Return onplan assets excludinginterest income	0.46	0.50
Fair value ofplan assets at the end of theyear	61.30	44.47
Actual return onplan assets	3.56	2.58

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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12.1.5 Amounts recognised in the Statement of profit and loss in respect of defined benefit plan is as below:

12.1.5 Amounts recognised in the Statement of proft and loss in respect of defned beneft plan is as below:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Current service cost	20.68	15.35
Past service cost	-	-
Net interest on net defned beneft liability/(asset)	1.10	0.64
Net gratuity cost	21.78	15.99

12.1.6 Defined benefit plan actuarial gains/(losses) recognized in other comprehensive income represents the following:

12.1.6 Defned beneft plan actuarial gains/(losses) recognized in other comprehensive income represents the following:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Return onplan assets excludinginterest income	(0.46)	(0.50)
Actuarial loss/(gain)arisingfrom fnancial assumptions	0.56	(1.55)
Actuarial loss/(gain)arisingfrom demographic assumptions	8.65	-
Actuarial loss/(gain)arisingfrom experience adjustments	(1.00)	3.05
Total amount recognised in other comprehensive income	7.74	1.00

12.1.7 Principal assumptions used for the purpose of actuarial valuation:

12.1.7 Principal assumptions used for the purpose of actuarial valuation:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Discount rate	7.20%	7.30%
Expected rate of salaryincrease	15.00%	15.00%
Attrition rate(based on agegroup)	20.00%	25.00%
Expected contributionpayable	10.00	6.00
Weighted average duration	6.19	4.92
Mortality rates	Indian Assured	Lives
	Mortality (2012-14)	Ult table
Estimated rate of return onplan assets	7.67%	7.01%

12.1.8 Principal assumptions used for the purpose of actuarial valuation (Contd.)

Notes on the principal assumptions:

The discount rate is based on the prevailing market yields of Indian Government securities as at the balance sheet date for the estimated term of the obligations.
The estimates of future salary increases, considered in actuarial valuation, take into account inflation, seniority, promotion and other relevant factors, such as supply and demand factors in the employment market.
The Company provides for gratuity for employees in India as per the Payment of Gratuity Act, 1972. In respect of other employees, gratuity is arrived at based on last drawn basic salary of 15 days for every completed year of service, on completion of 4 years and 240 days of continuous service.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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12.1.9 Sensitivity analysis

shown below:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Discount rate
- Increase of 0.5%	-3.01%		-2.41%
- Decrease of 0.5%	3.18%		2.51%
Salaryescalation rate
- Increase of 0.5%	2.45%		2.02%
- Decrease of 0.5%	-2.40%		-1.98%

Although the analysis does not take account of the full distribution of cash flows expected under the plan, it does provide an approximation of the sensitivity of the assumptions shown.

If the discount rate increases/decreases by 0.50%, the defined benefit obligations would increase/(decrease) as follows:

If the discount rate increases/decreases by 0.50%, the defned beneft obligations would increase/(decrease) as follows:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Increase of 0.50%	-2.73	-1.51
Decrease of 0.50%	2.87	1.56

If the expected salary growth increases/decreases by 0.50%, the defined benefit obligations would increase/(decrease) as follows:

If the expected salary growth increases/decreases by 0.50%, the defned beneft obligations would increase/(decrease) as follows:
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Increase of 0.50%	2.21	1.25
Decrease of 0.50%	-2.18	-1.25

13. OTHER CURRENT LIABILITIES

13. OTHER CURRENT LIABILITIES
Particulars	As at	As at
	March 31, 2024	March 31, 2023
Dues to statutoryauthorities	45.55	40.65
Advances from customer	-	2.49
Employee beneftspayable	33.38	6.37
	78.93	49.51

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

231

14. RELATED PARTIES

14.1 List of related parties with whom transactions have taken place during the year

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Name of the relatedparty	Nature of relationship
LatentView Analytics Pte. Limited, Singapore	Wholly-owned subsidiary
LatentView Analytics Corporation, USA	Wholly-owned subsidiary
LatentView Analytics UK Limited, United Kingdom	Wholly-owned subsidiary
LatentView Analytics B.V. Netherlands	Wholly-owned subsidiary
LatentView Analytics GmbH, Germany	Stepdown Subsidiary
A.V. Venkatraman	Chairperson and Whole-Time Director
Pramadwathi Jandhyala	Whole-Time Director
Rajan Sethuraman	Chief Executive Offcer
Rajan Bala Venkatesan	Chief Financial Offcer
Srinivasan P	CompanySecretary
Dipali Hemant Sheth	Independent Director
R.Raghuttama Rao	Independent Director
Mukesh Hari Butani	Independent Director
Reed Allen Cundiff	Independent Director

14.2 Related party transactions other than those with key management personnel, in the ordinary course of business:

	Sale of services	Interest income	Loans given	ESOP related	Reimbursement of
				balances	employee beneft and
					other expenses from
2023-24
LatentView Analytics Pte. Limited, Singapore	14.07	-	-	-	-
LatentView Analytics Corporation, USA	2,586.52	17.31	272.06	13.74	4.95
LatentView Analytics UK Limited, United Kingdom	4.16	37.86	-	-	-
LatentView Analytics GmbH, Germany	23.75	-	-	0.86	1.29
LatentView Analytics B.V., Netherlands	5.59	16.34	791.99	-	-
	2,634.09	71.51	1,064.05	14.60	6.24
2022-23
LatentView Analytics Corporation, USA	2,407.72	19.35	551.93	10.88	-
LatentView Analytics UK limited, United Kingdom	10.14	28.55	-	-	-
LatentView Analytics GmbH, Germany	66.80	-	-	0.28	-
	2,484.66	47.90	551.93	11.16	-

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

232

14.3 Balance due to/due from related parties

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LatentView Analytics Annual Report 2023-2024

14.3 Balance due to/due from related parties
	Trade	Interest	Loans and other	Payble to key	Other
	receivable	accrued	advances	managerialpersonnel	Receivables
2023-24
LatentView Analytics Corporation, USA	924.82	2.37	272.52	-	37.85
LatentView Analytics UK Limited, United Kingdom	1.58	9.87	526.10	-	-
LatentView Analytics B.V., Netherlands	5.59	16.33	806.40	-	-
LatentView Analytics GmbH, Germany	23.91	-	-	-	2.54
LatentView Analytics Pte. Limited, Singapore	4.14	-	-	-	0.70
	960.04	28.57	1,605.02	-	41.09
2022-23
LatentView Analytics Corporation, USA	427.87	19.29	566.56	-	19.00
LatentView Analytics UK Limited, United Kingdom	3.40	-	507.75	-	-
LatentView Analytics B.V., Netherlands	-	-	-	-	(0.03)
LatentView Analytics GmbH, Germany	39.70	-	-	-	0.39
	470.97	19.29	1,074.31	-	19.36

14.4 Transactions with Key Management Personnel and Independent Directors

Remuneration to Key Management Personnel

14.4 Transactions with Key Management Personnel and Independent Directors Remuneration to Key Management Personnel
Salary cost for the year	Year ended	Year ended
	March 31, 2024	March 31, 2023
A.V. Venkatraman	12.00	12.00
Pramadwathi Jandhyala	12.00	12.00
Rajan Sethuraman	20.35	12.00
Rajan Bala Venkatesan	7.34	6.00
Srinivasan P	2.45	1.73
Sittingfees for Independent Directors*
Dipali Hemant Sheth	1.05	1.80
R.Raghuttama Rao	1.15	2.00
Mukesh Hari Butani	0.95	1.75
Reed Allen Cundiff	1.15	1.80
Commission for Independent Directors*
Dipali Hemant Sheth	2.95	1.10
R.Raghuttama Rao	3.00	1.10
Mukesh Hari Butani	2.95	1.10

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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14.4 Transactions with Key Management Personnel and Independent Directors (Contd.)

Remuneration to Key Management Personnel

14.4 Transactions with Key Management Personnel and Independent Directors(Contd.) Remuneration to Key Management Personnel
Salary cost for the year	Year ended	Year ended
	March 31, 2024	March 31, 2023
Reed Allen Cundiff	3.00	1.10
*Sittingfee of 0.9 millions and Commission of 6.30 millions ispayable as on 31 March 2024 (Refer Note 14.5)
Keymanagementpersonnel Defned Beneft Obligation (DBO) w.r.t. Gratuity
A.V. Venkatraman	1.64	1.63
Pramadwathi Jandhyala	1.54	1.58
Rajan Sethuraman	1.60	1.57
Rajan Bala Venkatesan	0.44	0.20
Srinivasan P	0.09	0.02
Refer Note 15 for share basedpayment rewards to keymanagementpersonnel.

14.5 Payable to Independent Directors

14.5 Payable to Independent Directors
Year ended	Year ended
March 31, 2024	March 31, 2023
Sittingfees for Independent Directors
Dipali Hemant Sheth 0.25	-
R.Raghuttama Rao 0.25	-
Mukesh Hari Butani 0.20	-
Reed Allen Cundiff 0.20	-
Commission for Independent Directors
Dipali Hemant Sheth 1.55	-
R.Raghuttama Rao 1.60	-
Mukesh Hari Butani 1.55	-
Reed Allen Cundiff 1.60	-

14.6 Terms and conditions of transactions with related parties

Transactions with related parties are at arm’s length and all the outstanding balances are unsecured (refer note 29).

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Notice to the AGM

14.7 Loans or Advances to Specified persons

14.7 Loans or Advances to Specifed persons
Type of Borrower	As at March 31, 2024 As at March 31, 2023
	Amount of loan or advance in the nature of loan outstanding Percentage to the total Loans and Advances in the nature of loans Amount of loan or advance in the nature of loan outstanding Percentage to the total Loans and Advances in the nature of loans
Loan outstanding:
LatentView Analytics UK Limited,United Kingdom(refer Note 1)	526.10 32.78% 507.75 47.26%
LatentView Analytics B.V.,Netherlands(refer Note 3)	806.40 50.24% 0.00 0.00%
LatentView Analytics Corporation,USA(refer Note 2 and 4)	272.52 16.98% 566.56 52.74%
Total	1,605.02 1,074.31

Note:

The loans granted to related parties, during the year ended March 31, 2022 amounting to 512.10 millions (outstanding as at March 31, 2024 526.10 millions and as at March 31, 2023 507.75 millions) pertains to Loan given to “Latent View Analytics UK Limited” on February 18, 2022 at the interest rate of 2.5% +SONIA (Sterling Overnight Interbank Average Rate) per annum till December 31, 2023 and at an interest rate of 7% w.e.f January 1, 2024. The interest accrued at the end of the current year amounts to ` 9.87 millions.
The loans granted to related parties, during the previous year amounting to 551.93 millions (outstanding as at March 31, 2023 ` 566.56) pertains to Loan given to “LatentView Analytics Corporation, USA” on September 20, 2022 at the interest rate of 3% + SOFR (Secured Overnight Financing Rate) per annum for the purpose of working capital. The entire loan has been repaid in the current year.
The loans granted to related parties, during the current year amounting to 791.99 millions (outstanding as at March 31, 2024 806.40 millions) pertains to Loan given to “LatentView Analytics B.V., Netherlands” on October 20, 2023 at the interest rate of 4.50% per annum. The interest accrued for the current year amounts to 16.34 millions.
The loans granted to related parties, during the current year amounting to 272.06 millions (outstanding as at March 31, 2024 272.52) pertains to Loan given to “LatentView Analytics Corporation, USA” on February 8, 2024 at the interest rate of 6% per annum for the purpose of working capital. The interest accrued for the current year amounts to 2.37 millions.

14.8 Investment in Subsidiaries

14.8 Investment in Subsidiaries
	As at	As at
	March 31, 2024	March 31, 2023
LatentView Analytics Corporation, USA	0.00	0.00
LatentView Analytics UK Limited, United Kingdom	1.97	1.97
LatentView Analytics B.V., Netherlands	1.52	1.52
LatentView Analytics Pte. Ltd, Singapore	0.84	0.84
	4.33	4.33

15. SHARE BASED PAYMENTS

(See accounting policies in note 3(G))

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15.1 Description of share-based payment arrangements

As at March 31, 2024, the Company has the following stock option plans for employees.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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2016 Employee stock option plan (hereinafter referred as “the Plan”)

1. Strategic Review

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

The terms and conditions related to the grant of the plan is as follows:

The terms and conditions related to the grant of the plan is as follows:
Employee entitled	Number	Number of	Grant date	Vesting period ends on	Contractual life
	of options	options that shall			of the options as
	outstanding	vestperyear			per theplan
Employees who have been in employment of the Company or subsidiary Company of the Group	1,80,000	Graded vesting	April 8, 2016	April 8, 2017	1-10 years
before October 31, 2013 and identifed as such by the Nomination and Remuneration Committee in
consultation with the Board.
Employees who have been in employment of the Company or subsidiary Company, identifed based	14,11,179	Graded vesting	October 11, 2021	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date
Key Management Personnel	31,500	Graded vesting	October 11, 2021	Uniform vesting of 25% over 4 years falling	1-10 years
				on each anniversary postgrant date
Employees who have been in employment of the Company or subsidiary Company, identifed based	2,12,400	Graded vesting	October 29, 2022	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date
Key Management Personnel	93,000	Graded vesting	October 29, 2022	Uniform vesting of 25% over 4 years falling	1-10 years
				on each anniversary postgrant date
Employees who have been in employment of the Company or subsidiary Company, identifed based	1,40,000	Graded vesting	May 18, 2023	Uniform vesting of 25% over 4 years falling	1-10 years
on their criticalityandpotential and approved bythe Nomination and Remuneration Committee				on each anniversary postgrant date

Note:

The Company has granted 140,000 @ face value of 1 options during the current year ended March 31, 2024 (March 31, 2023: 363,000 @ face value 1).

The general terms and conditions related to the grant of all the above share options are as follows:

a) The scheme would be administered and supervised by a committee appointed by the board called “Nomination and Remuneration Committee”.
b) Right to exercise is only upon receipt of exercise notice from the Nomination and Remuneration Committee.
c) Options are not transferable. On resignation, options already vested to the employee as at the date of resignation can be exercised in accordance with the plan.

15.2 Measurement of fair values

The estimated grant-date fair value of stock options granted under 2016 plan is 22.47 to 30.34, 309.26 to 313.07, 74.57, 38.83 to 50.70, 71.81 to 87.72 for the grants made on April 8, 2016, July 20, 2017, November 20, 2020, October 11, 2021, October 29, 2022 respectively. For the grant during the current year Dated May 18, 2023 the fair values of ESOP is 91.16/-. The fair values are measured based on the Black-Scholes-Merton formula.

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LatentView Analytics Annual Report 2023-2024

	March 31, 2024	March 31, 2023
Shareprice atgrant date	324.89	390.00
Exerciseprice	324.00	359.00
Expected volatility	18.15%	18.15%

(All amounts are in millions of Indian Rupees, unless stated otherwise)

236

15.2 Measurement of fair values (Contd.)

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15.2 Measurement of fair values(Contd.)
	March 31, 2024	March 31, 2023
Expected dividends	-	-
Expected tenure inyears	1. 5 to 2.25	1. 5 to 2.25
Risk-free interest rate (based ongovernment bonds)	6.00%	6.00%

15.3 Movement in stock based compensation obligations

Reconciliation of outstanding share options:

15.3 Movement in stock based compensation obligations Reconciliation of outstanding share options:
	March 31, 2024 March 31, 2023
	Number of options Weighted averageprice (`)<br>Number of<br>options<br>Weighted<br>averageprice (`)
Options outstandingat the beginningof theyear	30,40,617 187.66 75,19,125 45.74
Granted duringtheyear	1,40,000 324.00 3,63,000 359.00
Exercised duringtheyear	(10,02,445) 70.04 (44,79,508) 27.42
Lapsed duringtheyear	(1,10,093) 196.55 (3,62,000) 76.00
Outstandingat the end of theyear	20,68,079 234.77 30,40,617 187.66
Exercisable at the end of theyear	6,42,329 205.63 10,11,367 51.82

Note:

For the year ended March 31, 2024

For the year ended March 31, 2023

The share based payment expense for the year has been disclosed in note 18 below.

16. REVENUE FROM OPERATIONS

(See accounting policy in Note 3(H))

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LatentView Analytics Annual Report 2023-2024

16. REVENUE FROM OPERATIONS (See accounting policy in Note 3(H))
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Export service income	2,634.09	2,484.66
Domestic service income	281.06	154.84
	2,915.15	2,639.50

The Company generates revenue primarily from providing services with respect to data analytics, technological activities and facilitates the development of models and applications for use by customers.

(All amounts are in millions of Indian Rupees, unless stated otherwise)

237

16.1 Disaggregate revenue information

16.1.1 Revenue

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3. Financial Statements Consolidated Financial Statement

16.1 Disaggregate revenue information 16.1.1 Revenue
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Revenue from contracts with customers	2,915.15	2,639.50
	2,915.15	2,639.50

16.2 Reconciliation of revenue recognised in the statement of profit and loss with the contracted price

16.2 Reconciliation of revenue recognised in the statement of proft and loss with the contracted price
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Revenue asper contractprice	2,915.15	2,650.82
Less:Adjustments to contractprice	-	(11.32)
	2,915.15	2,639.50

16.2.1. Timing of revenue recognition

16.2.1. Timing of revenue recognition
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Services transferred over time	2,915.15	2,639.50

Standalone Financial Statement

Notice to the AGM

16.1.2 Disaggregation of Revenue from Contracts with Customers

In the following table, revenue is disaggregated by primary geographical markets:

16.1.2 Disaggregation of Revenue from Contracts with Customers In the following table, revenue is disaggregated by primary geographical markets:
Year ended		Year ended
March 31, 2024	March 31, 2023
India 281.06		154.84
Outside India:
- United States of America 2,586.52		2,407.72
- Netherlands 29.34		66.80
- United Kingdom 4.16		10.14
- Singapore 14.07		-
2,915.15		2,639.50

The Company’s primary customers are its subsidiary companies. The table below provides the break up of revenue between the relared parties and non-related parties:

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LatentView Analytics Annual Report 2023-2024

The Company’s primary customers are its subsidiary companies. The table below provides the break up of revenue between the relared parties and non-related parties:
Nature of customer	Year ended	Year ended
	March 31, 2024	March 31, 2023
Relatedparty	2,634.09	2,484.66
Non-relatedparty	281.06	154.84
	2,915.15	2,639.50

(All amounts are in millions of Indian Rupees, unless stated otherwise)

238

17. OTHER INCOME

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17. OTHER INCOME
Year ended	Year ended
March 31, 2024	March 31, 2023
Interest income on fnancial assets 559.05	442.88
Netgain on foreign currencytransactions 48.53	48.26
Gain on redemption/sale of current investments 7.50	15.10
Interest income on securitydeposits 0.82	1.64
Financial assets measured at FVTPL - net change in fair value 73.24	18.21
ScrapSales 3.02	-
Sale of dutyscript (Service Export Incentive from India Scheme) -	46.13
692.16	572.22

18. EMPLOYEE BENEFIT EXPENSE

(See accounting policy in note 3(G))

18. EMPLOYEE BENEFIT EXPENSE (See accounting policy in note 3(G))
Year ended	Year ended
March 31, 2024	March 31, 2023
Salaries, wages and bonus 1,476.03	1,240.41
Contribution toprovident and other funds 63.90	48.96
Share basedpayment
- Equitysettled 17.47	28.52
Staff welfare expenses 39.66	25.88
1,597.06	1,343.77

19. FINANCE COST

(See accounting policy in note 3(I))

19. FINANCE COST (See accounting policy in note 3(I))
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Interest expense on lease obligation	21.64	19.51
Amortisation ofpremium/(discount) on non-current investments	8.74	6.63
	30.38	26.14

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LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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20. DEPRECIATION AND AMORTISATION EXPENSE

(See accounting policies in note 3(D), 3(I), 3(E))

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LatentView Analytics Annual Report 2023-2024

20. DEPRECIATION AND AMORTISATION EXPENSE (See accounting policies in note 3(D), 3(I), 3(E))
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Depreciation ofproperty,plant and equipment (refer note 4)	38.36	34.76
Depreciation on right of use assets (refer note 5)	42.44	39.38
Amortisation of intangible assets (refer note 6)	0.11	0.03
	80.91	74.17

21. OTHER EXPENSES

21. OTHER EXPENSES
	Year ended	Year ended
	March 31, 2024	March 31, 2023
Power and fuel	4.94	4.79
Rent	32.56	34.37
Software license expenses	2.48	6.90
Repairs and maintenance towards:
- Others	4.34	6.65
Insurance	5.56	2.14
Rates and taxes	1.13	0.04
Travel and conveyance (net of reimbursements)	33.74	30.12
Legal andprofessional charges	46.59	33.44
Payment to auditors (refer note (i) below)	6.50	6.16
Sub-contractingexpenses	24.58	23.78
Communication expenses	3.29	3.21
Director's sittingfees	16.20	7.35
Printingand stationery	0.69	0.39
Subscription and hostingcharges	65.92	28.40
Securitycharges	2.83	2.43
Advertisment and salespromotion expenses	39.66	29.08
Recruitment and training	38.99	28.67
Postage and courier charges	0.88	0.83
Expenditure towards corporate social responsibility(refer note 23)	22.26	16.33
Bank charges	1.13	0.54
Miscellaneous expenses	5.28	6.32
	359.55	271.94

(All amounts are in millions of Indian Rupees, unless stated otherwise)

240

Note:

(i) Payments to auditors

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Note: (i) Payments to auditors
As auditor	Year ended	Year ended
	March 31, 2024	March 31, 2023
Statutoryaudit	5.20	5.20
Other services	1.10	0.80
Reimbursement of expenses	0.20	0.16
	6.50	6.16

22. FINANCIAL INSTRUMENTS - FAIR VALUES AND RISK MANAGEMENT A. Accounting classifications and fair values

The following table shows the carrying values of financial assets and financial liabilities including their levels in the fair value hierarchy:

Particulars	Amortised	Fair value through	Fair value	Total carrying
	cost	proft or loss	through OCI	value
March 31, 2024:
Assets:
Financial assets measured at fair value
Investments	-	1,994.95	-	1,994.95
Forward contract asset	-	-	-	-
Financial assets not measured at fair value
Investments (excludinginvestments in subsidiaries)	3,530.23	-	-	3,530.23
Bank deposits	1,261.41	-	-	1,261.41
Other fnancial assets	176.34	-	-	176.34
Trade receivables	1,021.64	-	-	1,021.64
Cash and cash equivalents	462.42	-	-	462.42
Other bank balances	1,002.41	-	-	1,002.41
Loans	1,605.02	-	-	1,605.02
	9,059.47	1,994.95	-	11,054.42
Liabilities:
Tradepayables	50.95	-	-	50.95
Lease liabilities	221.88	-	-	221.88
Dues to capital creditors	23.49	-	-	23.49
Forward contract liabilities	-	3.07	-	3.07
	296.32	3.07	-	299.39

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Strategic Review

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

A. Accounting classifications and fair values (Contd.)

The following table shows the carrying values of financial assets and financial liabilities including their levels in the fair value hierarchy:

Particulars	Amortised	Fair value through	Fair value	Total carrying
	cost	proft or loss	through OCI	value
March 31, 2023:
Assets:
Financial assets measured at fair value
Investments	-	684.35	-	684.35
Forward contract asset	-	5.10	-	5.10
Financial assets not measured at fair value
Investments (excludinginvestments in subsidiaries)	3,222.73	-	-	3,222.73
Bank deposits	316.49	-	-	316.49
Other fnancial assets	206.37	-	-	206.37
Trade receivables	506.56	-	-	506.56
Cash and cash equivalents	71.78	-	-	71.78
Other bank balances	3,560.33	-	-	3,560.33
Loans	1,074.31	-	-	1,074.31
	8,958.57	689.45	-	9,648.02
Liabilities:
Tradepayables	23.11	-	-	23.11
Lease liabilities	208.70	-	-	208.70
	231.81	-	-	231.81

The Company has not disclosed fair values of financial instruments such as trade receivables, investments in government bonds, cash and cash equivalents, bank balances other than cash and cash equivalents, other financial assets, trade payables and other financial liabilities, since their carrying amounts are reasonable approximates of fair values.

Fair value hierarchy levels have been defined as below:

Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3: Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The following table shows the levels in the fair value hierarchy as at each period:

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LatentView Analytics Annual Report 2023-2024

The following table shows the levels in the fair value hierarchy as at each period:
Particulars	March 31, 2024 March 31, 2023
	Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Financial assets
Investments - measured at fair value	1,719.12 275.83 - 428.20 256.15 -

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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The following table shows the levels in the fair value hierarchy as at each period: (Contd.)

The following table shows the levels in the fair value hierarchy as at each period:(Contd.)
Particulars	March 31, 2024 March 31, 2023
	Level 1 Level 2 Level 3 Level 1 Level 2 Level 3
Investments - measured at amortised cost	3,530.23 - - 3,222.73 - -
Forward contract asset	- - - 5.10 - -
Financial Liabilities
Forward contract liabilities	3.07 - - - - -

B. Measurement of fair values

Valuation techniques and significant unobservable inputs

Financial instruments measured at fair value (Level 2 and Level 3)

Type	Valuation technique
Forward exchange contracts	Forwardpricing: The fair value is determined using quoted forward exchange rates at the reportingdate.
Investment in Market linked debenture	The valuation is done based on Yield to Maturityof the Poolingmutual funds. An adjustment of 0.05% is done to the Yield to maturityon a conservative basis.

The Company has exposure to the following risks arising from financial instruments:

market risk (refer (C)(ii));
credit risk (refer (C)(iii)); and
liquidity risk (refer (C)(iv).

i. Risk management framework

The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Company’s risk management framework. The Board of Directors is responsible for developing and monitoring the Company’s risk management policies.

The Company’s risk management policies are established to identify and analyse the risks faced by the Company, to set appropriate risk limits and controls and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to reflect changes in market conditions and the Company’s activities. The Group, through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand their roles and obligations.

ii. Market Risk-Foreign currency and interest rate risk

Market risk is the risk of loss of future earnings or fair values or future cash flows that may result from a change in the price of a financial instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign exchange rates and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk sensitive financial instruments including foreign currency receivables and payables. The Company is exposed to market risk primarily related to foreign exchange rate risk (currency risk).

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The principal market risk that is expected to have significant impact on the Company is the foreign exchange risk. The Company operates internationally and a portion of its revenues are from overseas customers. Accordingly, the Company is subject to foreign exchange risk. The Company’s exposure to foreign currency risk is primarily in US Dollars (USD) and exposure to other foreign currencies are insignificant. The exchange rate between Indian Rupee and USD has fluctuated significantly in the recent years and may have similar fluctuations in the future, consequently, the results of the Company’s operations. With respect to borrowings the impact of the market risk on the interest rate is not significant.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Exposure to currency risk

The summary of quantitative data about the Company’s exposure to currency risk (based on notional amounts) as reported to the management is as follows: (` in millions)

Particulars	March 31, 2024 March 31, 2023
	USD GBP Euro SGD USD GBP Euro SGD
Trade receivables	924.82 1.58 29.50 4.14 427.87 3.40 39.70 -
Loans and other receivables	312.74 535.97 825.27 0.70 604.85 507.75 - -
	1,237.56 537.55 854.77 4.84 1,032.72 511.15 39.70 -
Trade and otherpayables	- - - - - - (0.03) -
Net foreign exchange exposure	1,237.56 537.55 854.77 4.84 1,032.72 511.15 39.67 -

Sensitivity analysis

A reasonably possible strengthening (weakening) of the INR against USD or EUR or GBP or SGD at March 31 would have affected the measurement of financial instruments denominated in a foreign currency and affected equity and profit or loss by the amounts shown below. This analysis assumes that all other variables, in particular interest rates, remain constant and ignores any impact of forecast sales and purchases.

The sensitivity of Indian Rupee and its fluctuation to US dollar and GBP’s appreciation/deprecation on the Company’s profit before tax is given below:

	Proft or loss Equity, net of tax
	Strengthening Weakening Strengthening Weakening
March 31, 2024
INR/USD (1% movement)	12.38 -12.38 9.11 -9.11
INR/GBP (1% movement)	5.38 -5.38 3.96 -3.96
INR/EUR (1% movement)	8.55 -8.55 6.29 -6.29
INR/SGD (1% movement)	0.05 -0.05 0.04 -0.04
March 31, 2023
INR/USD (1% movement)	10.33 -10.33 8.09 -8.09
INR/GBP (1% movement)	5.11 -5.11 4.01 -4.01
INR/EUR (1% movement)	0.40 -0.40 0.31 -0.31

iii. Credit risk

Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations, and arises principally from the Company’s trade receivables, debt securities, cash and cash equivalents, bank balance other than cash and cash equivalents,security deposits and other financial assets.

The Company’s exposure to credit risk for trade receivables by geographic region is as follows:

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LatentView Analytics Annual Report 2023-2024

The Company’s exposure to credit risk for trade receivables by geographic region is as follows:
	Carryingamounts
	As at March 31, 2024 As at March 31, 2023
	Trade receivables Contract asset Trade receivables Contract asset
India	61.60 - 35.67 4.90
USA	924.82 - 427.87 -

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

The Company’s exposure to credit risk for trade receivables by geographic region is as follows: (Contd.)

The Company’s exposure to credit risk for trade receivables by geographic region is as follows:(Contd.)
	Carryingamounts
	As at March 31, 2024 As at March 31, 2023
	Trade receivables Contract asset Trade receivables Contract asset
Europe	29.50 - 39.62 -
UK	1.58 - 3.40 -
Singapore	4.14 - - -

The carrying amount of financial assets represents the maximum credit exposure which is as follows:

The carrying amount of fnancial assets represents the maximum credit exposure which is as follows:
	Carryingamounts
	As at March 31,2024 As at March 31,2023
Investments	5,525.18 3,907.08
Trade receivables	1,021.64 506.56
Contract assets	- 4.90

Other financial assets primarily constitute of security deposits. Loans comprise of loan given to wholly owned subsidiary to fund the expansion of the subsidiary. The Company does not expect any losses from non-performance by these counter parties.

Trade receivables

Exposures to customers outstanding at the end of each reporting period are reviewed by the Company to determine incurred and expected credit losses. Historical trends of impairment of trade receivables do not reflect any significant credit losses. Given that the macro economic indicators affecting customers of the Company have not undergone any substantial change, the Company expects the historical trend of minimal credit losses to continue. Further, management believes that the unimpaired amounts and are still collectible in full, based on historical payment behavior and analysis of customer credit risk.

The Company limits its exposure to credit risk by investing in debt securities and minimum investment being made in equity instruments. The credit worthiness of the counterparties of the investments made are evaluated by the management on an ongoing basis and is considered to be good with low credit risk.

Expected credit loss (ECL) measurement for the trade receivables of the group

Cash and bank balances, investments, loans and other financial assets

The Company’s always measures the loss allowance for trade receivables at an amount equal to lifetime expected credit loss (ECL). The Company has used a practical expedient by computing the expected credit loss allowance for trade receivables based on a provision matrix under simplified approach. The provision matrix takes into account historical credit loss experience and adjusted for forward-looking information. The expected credit loss allowance is based on the ageing of the days the receivables are due. Based on internal assessment which is driven by the historical experience and current facts available in relation to pattern of collection thereof, the credit risk for these trade receivables is considered low.

Majority of investments of the Company are fair valued based on Level 1 or Level 2 inputs. These investments primarily include investment in liquid mutual fund units, certificates of deposit and quoted bonds issued by government and quasi-government organizations. The Company invests after considering counterparty risks based on multiple criteria including Tier I Capital, Capital Adequacy Ratio, Credit Rating, Profitability, NPA levels and deposit base of banks and financial institutions. These risks are monitored regularly as per its risk management program.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

The Company’s allocates each exposure to a credit risk grade based on the historic trend of receivables movement between the aging buckets. The loss rates are calculated based on the simple average of the trend in receivable ageing.

Ageing period	Average loss rate
	31-Mar-24 31-Mar-243
Not due	0.01% 0.02%
0-90 days	0.01% 0.02%
90-180 days	0.04% 0.10%

As per management analysis majority of the receivables of the Company either not due or aged between 0-90 days bucket and Contracts assets are all aged less than 30 days. Accordingly, the Company does not carry any provisions as at the year ended March 31, 2024, and 2023.

(iv) Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company’s approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company’s reputation.

Cash flow from operating activities provides the funds to service and finance the financial liabilities on a day-to-day basis.

The Company regularly monitors the rolling forecasts to ensure it has sufficient cash on an on-going basis to meet operational needs. Any short term surplus cash generated, over and above the amount required for working capital management and other operational requirements, is retained as cash and cash equivalents (to the extent required) and any excess is invested in interest bearing term deposits and other highly marketable debt investments with appropriate maturities to optimise the cash returns on investments while ensuring sufficient liquidity to meet its liabilities.

Contractual cash flows

Contractual cash fows
Particulars	March 31, 2024 March 31, 2023
	Carrying amount Total Payable within 1year More than 1year Carrying amount Total Payable within 1year More than 1year
Tradepayable	50.95 50.95 50.95 - 23.11 23.11 23.11 -
Lease liability*	221.88 267.34 60.51 206.83 208.70 255.87 58.93 196.94
Other fnancial liabilities	26.56 26.56 26.56 - - - - -
Balance at the end of theyear	299.39 344.85 138.02 206.83 231.81 278.98 82.04 196.94

*Contractual cash flows have been presented without giving effect to adjustment of effective interest rate.

23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE

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LatentView Analytics Annual Report 2023-2024

23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE
Particulars	Year ended	Year ended
	March 31, 2024	March 31, 2023
Details of corporate social responsibilityexpenditure
(a) Amount required to be spent duringtheyear	22.03	15.82
(b) Amount spent duringtheyear
(i) Construction/acquisition of anyasset	-	-
(ii) Onpurposes other than (i) above	22.26	16.33

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE (Contd.)

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

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Notice to the AGM

23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE(Contd.)	23. CORPORATE SOCIAL RESPONSIBILITY (‘CSR’) EXPENDITURE(Contd.)
Particulars		Year ended	Year ended
		March 31, 2024	March 31, 2023
(c)	Shortfall at the end of theyear	-	-
(d)	Total ofpreviousyears shortfall	-	-
(e)	Reason for shortfall	Not Applicable	Not Applicable
(f)	Nature of CSR activities	Primary focus is Education and livelihood and
		Secondaryfocus is Environmental Sustainability.
(g)	Details of relatedpartytransactions in relation to CSR expenditure asper relevant AccountingStandard	Not Applicable	Not Applicable

The Company has Primary focus in Education and livelihood and Secondary focus is Environmental Sustainability. The expenditure incurred during the year has been approved by the Board of Directors.

24. SEGMENT INFORMATION

a. Operating segments

b. Geographic information

Segment Revenue: Revenues are attributable to individual geography based upon the location of the customers.

b. Geographic information Segment Revenue:Revenues are attributable to individual geography based upon the location of the customers.
Particulars	As at March 31, 2024	As at March 31, 2023
India 281.06 154.84
Outside India:
- United States of America 2,586.52 2,407.72
- Netherlands 29.34 66.80
- Singapore 14.07 -
- United Kingdom 4.16 10.14
2,915.15 2,639.50

Segment accounting policies

The accounting principles consistently used in the preparation of the Financial Statements and applied to record revenue and expenditure in individual segments are as set out in Note 3(K) to this schedule on significant accounting policies. The description of segment assets and the accounting policies in relation to segment accounting are as under:

(i) Non-current assets

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Segment non-current assets (other than financial instruments and deferred tax assets) include all operating assets and consist primarily of right of use asset, property, plant and equipment, other non-current assets. The entire non-current assets are used and pertain to the India geography.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

(ii) Revenue

Revenue in the geographical information considered for disclosures are as follows:

25. CAPITAL MANAGEMENT

The Company’s objective for capital management is to maximise shareholder value, safeguard business continuity and support the growth of the Company. The Company determines the capital requirement based on annual operating plans and long-term and other strategic investment plans. The funding requirements are met through equity and operating cash flows generated. The Company is not subject to any externally imposed capital requirements.The Company monitors capital on the basis of the following gearing ratio: Adjusted net debt (Total liabilities net of cash and cash equivalents) divided by total equity as shown in the balance sheet.

The Company adjusted net debt to equity ratio is as follows:

monitors capital on the basis of the following gearing ratio: Adjusted net debt (Total liabilities net of cash and cash equivalents) divided by total equity as shown in the balance sheet. The Company adjusted net debt to equity ratio is as follows:
Particulars	As at March 31, 2024	As at March 31, 2023
Total liabilities 408.51 307.37
Less:Cash and cash equivalents 462.42 71.78
Adjusted net debt (a) (53.91) 235.59
Total equity(b) 11,019.16 9,836.98
Adjusted net debt to adjusted equityratio (a/b) (0.00) 0.02

26. EARNING PER SHARE

Basic and diluted earnings per share

The calculation of profits attributable to equity shareholders and weighted average number of equity shares outstanding for purposes of basic and diluted earnings per share are as follows:

Particulars	Year ended Year ended
	March 31, 2024 March 31, 2023
Proft attributable to the equityshareholders of the Company	1,132.68 1,172.36
Weighted average number of equityshares for theyear (Basic)*	20,52,63,044 20,15,17,413
Weighted average number of equityshares outstandingduringtheyear (Diluted)*	20,66,94,885 20,37,90,458
Basic earningsper share (EPS)	5.52 5.82
Diluted earningsper share (EPS)	5.48 5.75

*Number of shares are in absolute figures.

Note:

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(a) The potential equity shares as on March 31, 2024 and March 31, 2023 are in the form of stock options granted to employees. The exercise price and the convertion terms of these options are automatically updated persuant to the Bonus issue (as more fully described in Note 15), hence the Diluted EPS has been adjusted to reflect the impact of the same.

LatentView Analytics Annual Report 2023-2024

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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3. Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

27. RATIOS AS PER THE SCHEDULE III REQUIREMENTS

a) Current Ratio = Current Assets divided by Current Liabilities

27. RATIOS AS PER THE SCHEDULE III REQUIREMENTS a)Current Ratio = Current Assets divided by Current Liabilities
Particulars	31-Mar-24	31-Mar-23
Current assets	6,852.81	6,489.85
Current liabilites	198.93	139.47
Ratio	34.45	46.53
% Change frompreviousperiod	-26%

Reason for change more than 25%:

The decrease in current ratio is on account of increase in bonus provision as well as increase in accrued expenses with respect to proposed acquisition.

b) Debt Service Coverage Ratio = Earnings available for debt services divided by the Total interest and principal repayments

b)Debt Service Coverage Ratio = Earnings available for debt services divided by the Total interest and principal repayments
Particulars 31-Mar-24	31-Mar-23
Proft for theyear 1,132.68	1,172.36
Add: Non cash operatingexpenses and fnance cost
- Depreciation and amortizations 80.91	74.17
- Finance cost 30.38	26.14
Earnings available for debt service 1,243.97	1,272.67
Interest cost on borrowings 21.64	19.51
Principal repayments 38.23	37.93
Total interest andprincipal repayments 59.87	57.44
Ratio 20.78	22.16
% Change frompreviousperiod -6%

Reason for change more than 25%: Not Applicable.

c) Return on Equity Ratio/Return on Investment Ratio = Profit for the year divided by Average Shareholder’s Equity

c)Return on Equity Ratio/Return on Investment Ratio = Proft for the year divided by Average Shareholder’s Equity
Particulars	31-Mar-24	31-Mar-23
Proft for theyear	1,132.68	1,172.36
Average Equity	10,428.07	9,196.53
Ratio	11%	13%
% Change frompreviousperiod	-15%

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Reason for change more than 25%: Not Applicable.

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(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements Consolidated Financial Statement Standalone Financial Statement

d) Trade receivables turnover ratio = Credit sales divided by Average trade receivables

d)Trade receivables turnover ratio = Credit sales divided by Average trade receivables
Particulars	31-Mar-24	31-Mar-23
Credit Sales	2,915.15	2,639.50
Average Trade Receivables	764.10	458.70
Ratio	3.82	5.75
% Change frompreviousperiod	-34%

Reason for change more than 25%: The major increase in Trade receivables turnover ratio is due to increase in trade receivables.

e) Trade payables turnover ratio = Credit purchases divided by Average trade payables

e)Trade payables turnover ratio = Credit purchases divided by Average trade payables
Particulars	31-Mar-24	31-Mar-23
Credit Purchases/expenses	336.16	255.07
Average Trade Payables	37.03	22.67
Ratio	9.08	11.25
% Change frompreviousperiod	-19%

Note: Credit purchases/expenses is calculated by reducing expenditure on CSR activity, bad and doubtful debts written off, net loss on fair valuation on derivatives, net loss on foreign currency transactions, listing fees and bank charges from the total other expenses.

Reason for change more than 25%: Not Applicable

Notice to the AGM

f) Net capital turnover ratio = Sales divided by Net working capital whereas net working capital = current assets - current liabilities

f)Net capital turnover ratio = Sales divided by Net working capital whereas net working capital = current assets - current liabilities
Particulars	31-Mar-24	31-Mar-23
Sales	2,915.15	2,639.50
Net workingcapital	6,653.88	6,350.39
Ratio	0.44	0.42
% Change frompreviousperiod	5%

Reason for change more than 25%: Not Applicable

g) Profit ratio = Profit for the year divided by Sales

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LatentView Analytics Annual Report 2023-2024

g)Proft ratio = Proft for the year divided by Sales
Particulars	31-Mar-24	31-Mar-23
Proft for theyear	1,132.68	1,172.36
Sales	2,915.15	2,639.50
Ratio	39%	44%
% Change frompreviousperiod	-13%

Reason for change more than 25%: Not Applicable

(All amounts are in millions of Indian Rupees, unless stated otherwise)

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
h) Return on Capital Employeed = EBIT/Capital Employed

h)Return on Capital Employeed = EBIT/Capital Employed
Particulars	31-Mar-24	31-Mar-23
Proft for theyear (A)	1,132.68	1,172.36
Income tax expense (B)	406.73	323.34
Proft before tax (C = A + B)	1,539.41	1,495.70
Adjustments:
Add:Finance Costs (D)	30.38	26.14
Less:Finance Income (E)	559.87	444.52
Earnings before interest and taxes (G= C+D-E)	1,009.92	1,077.32
Equityshare capital (H)	205.90	204.90
Other equity(I)	10,813.26	9,632.08
Net deferred tax liabilityor assets (J)	(55.40)	(190.79)
Capital Employed (J=H+I+J)	10,963.76	9,646.19
Return on Capital Employed= EBIT (G)/Capital Employed (J)	9.21%	11.17%
% Change frompreviousperiod	-18%

Reason for change more than 25%: Not Applicable

i) Return on investment = Income generated from invested funds by Average invested funds in treasury investments

i)Return on investment = Income generated from invested funds by Average invested funds in treasury investments
Particulars 31-Mar-24	31-Mar-23
Interest earned on bonds and fxed deposits 559.05	442.88
Financial Assets measured at FVTPL - net change in fair value 73.24	18.21
Incomegenerated from invested funds (a) 632.29	461.09
Mutual funds 1,339.65	669.20
Bonds 3,290.50	2,204.90
Fixed deposits 3,270.32	4,448.30
Average Invested funds in treasury(b) 7,900.47	7,322.40
Ratio (a/b) 8%	6%
% Change frompreviousperiod 27%

Reason for change more than 25%: The reason for increase in % of ratio of return on investment is on account of increase in concentration with respect to mutual funds.

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Financial Statements

Consolidated Financial Statement Standalone Financial Statement

Notice to the AGM

28. CONTINGENT LIABILITIES TO THE EXTEND NOT PROVIDED FOR:

Claims against Company, disputed by the Company, not acknowledged as debt:

28. CONTINGENT LIABILITIES TO THE EXTEND NOT PROVIDED FOR: Claims against Company, disputed by the Company, not acknowledged as debt:
Particulars	As at	As at
	March 31, 2024	March 31, 2023
(a) Income tax	3.00	3.00

The above amounts are based on the notice of demand/Assessment Orders/claims by the relevant authorities/parties and the Company is contesting these claims. Outflows, if any, arising out of these claims would depend on the outcome of the decisions of the appellate authorities and the Company’s rights for future appeals before the judiciary. The management believes that the ultimate outcome of these proceedings will not have a material adverse effect on the Company’s financial position and results of operations.

29. TRANSFER PRICING

The Company has international transactions with related parties. For the previous year, the Company has obtained the Accountant’s Report from a Chartered Accountant as required by the relevant provisions of the Income-tax Act, 1961 and has filed it with the tax authorities with in the time lines prescribed under the Act. The management has a policy of maintaining documents as prescribed by the Income-tax Act, 1961 to prove that these international transactions are at arm’s length and for the current year, confirms that it maintains such documents and that the aforesaid legislation will not have any impact on the restated Consolidated financial information, particularly on the amount of tax expense and that of provision for taxation.

30. UTILISATION OF IPO PROCEEDS

During the previous year ended March 31, 2022, the Company had completed its initial public offer (IPO) of 30,489,362 equity shares of face value of 1 each at an issue price of 197 per share, comprising fresh issue of 24,093,423 shares and offer for sale of 6,395,939 shares by selling shareholders. The Company had received an amount of 4,466.78 millions net of Company’s share of IPO Expenses 304.87 millions (retained in the Monitoring Agency Account to the extent unpaid) from the proceeds of the fresh issue. Out of the Company’s share of IPO Expenses 256.59 millions and related Goods and Services Tax of 31.87 millions had been adjusted to securities premium.

Summary of utilisation

Summary of utilisation
Particulars	Objects of the issue	Utilisation up to Unutilisated as of
	asperprospectus	March 31, 2024 March 31, 2024
Fundinginorganicgrowth initiatives	1,479.00	- 1,479.00
Fundingworkingcapital requirements of LatentView Analytics Corporation*	824.00	824.00 -
Investment in our Subsidiaries to augment their capital base for futuregrowth	1,300.00	1,300.00 -
General corporatepurposes	863.78	863.78 -
Net utilisation	4,466.78	2,987.78 1,479.00

Net IPO proceeds which were un-utilised as at March 31, 2024 were temporarily invested in fixed deposits with banks, Monitoring Agency bank account, current account balances with banks and in IPO Public issue account (held in cash and cash equivalents).

*During the year ended March 31, 2024, the Company had given a working capital loan to LatentView Corporation of 272.07 millions (with respect to the object of funding the working capital requirement of LatentView Analytics Corporation) out of which, 271 millions was from IPO Funds and 1.07 millions from the current account of the Company. Subsequent to the year end, the Company has transferred an amount of 1.07 millions, from the Monitoring agency account to the current account.

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM
On March 28, 2024 the Company has entered into a share purchase agreement (SPA) for the acquisition of Decision Point Private Limited (A Company in the space of AI- Led Business Transformation and Revenue Growth Management) (Decision Point). The Acquisition of 70% of the Paid up equity capital of Decision Point at a consideration of ` 3,200 millions (USD 39.1million) is expected to be Completed within 90 days from the SPA, subject to fulfillment of certain conditions as outlined in the SPA. The consideration is on a cash free/debt free basis and would be adjusted for normal level of working capital at closing. The consideration for the remaining 30% would be based on the valuation principles in the SPA in one or more tranches before the close of June 2026 subject to fulfillment of certain conditions as outlined in the SPA. Based on management assessment as at March 31, 2024 the Company does not have Control over the operations of Decision Point, hence the acquisition has not been accounted in the books for the year ended March 31, 2024.

32. OTHER STATUTORY INFORMATION

(i) The Company does not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property.
(ii) Based on the information available with the Company and relying on the publicly available information at the time of compilation in respect of companies struck off under section 248 of the Companies Act, 2013 or section 560 of the Companies Act, 1956, there are no amounts/transactions to disclose as required under B(L)(ix) of Part I of Schedule III to the Companies Act, 2013.
(iii) The Company has not revalued its property, plant and equipment (including right-of-use assets) or intangible assets or both during the current or previous year.
(iv) The Company has not traded or invested in Crypto currency or Virtual Currency during the Financial Year.
(v) The Company has not advanced or loaned or invested funds to any other person(s) or entity(ies), including foreign entities (Intermediaries) with the understanding that the Intermediary shall:
(b) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries
(vi) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:
(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries); or
(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries
(vii) The Company has not entered into any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961).
(viii) None of the entities in the Company have been declared wilful defaulter by any bank or financial institution or government or any government authority.
(ix) The Company has complied with the number of layers prescribed under the Companies Act, 2013.
(x) The Company has not entered into any scheme of arrangement which has an accounting impact on current or previous Financial Year.
(xi) The Company does not have any charges or satisfaction which is yet to be registered with Registrar of Companies (ROC) beyond statutory period.

33. SUBSEQUENT EVENTS

There are no subsequent events that have occurred after the reporting period till the date of this Standalone Financial Statements.

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Company (Ultimate Beneficiaries); or

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LatentView Analytics Annual Report 2023-2024

For B S R & Co. LLP

Firm’s registration number: 101248W/W-100022 Chartered Accountants

Satish Vaidyanathan

Partner Membership No.: 217042

Place: Chennai Date: May 07, 2024

A.V. Venkatraman

Pramadwathi Jandhyala

Whole-Time Director Chairperson DIN No: 00732854 DIN No: 01240055 Chennai Chennai

Rajan Bala Venkatesan Chief Financial Officer

Srinivasan. P

Company Secretary

Place: Chennai Date: May 07, 2024

For and on behalf of the Board of Directors of Latent View Analytics Limited CIN No: L72300TN2006PLC058481

Rajan Sethuraman Chief Executive Officer Chennai

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Financial Statements Consolidated Financial Statement Standalone Financial Statement
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LatentView Analytics Annual Report 2023-2024

Notice of the 18[th] Annual General Meeting

NOTICE is hereby given that the 18[th] Annual General Meeting (“Meeting” or “AGM”) of the Members of Latent View Analytics Limited will be held through Video Conferencing (“VC”) or Other Audio-Visual Means (“OAVM”) on Tuesday, August 27, 2024 at 09:00 AM IST without the physical presence of the members at a common venue, to transact the following businesses:

Item No. 3 – Appointment of Statutory Auditor of the Company

ORDINARY BUSINESS

Item No. 1 – Adoption of Audited Financial Statements along with the Reports of the Board of Directors and of the Auditors thereon:

To appoint M/s. Price Waterhouse Chartered Accountants LLP, as Statutory Auditors of the Company for a term of 5 consecutive years and to fix their remuneration:

To receive, consider and adopt the Audited Financial Statements (including Audited Consolidated Financial Statements) of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and of the Statutory Auditors thereon.

To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provisions of Sections 139, 142 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being in force) and pursuant to the recommendations of the Audit Committee and the Board of Directors (‘Board’) of the Company, M/s. Price Waterhouse Chartered Accountants LLP, Chartered Accountants (Firm Registration No. 012754N/N500016), be and is hereby appointed as the Statutory Auditors of the Company, to hold office for a term of five years from the conclusion of the 18[th] Annual General Meeting until the conclusion of the 23[rd] Annual General Meeting of the Company to be held in the year 2029 at such remuneration as recommended by the Audit Committee and as may be mutually agreed between the Board of Directors of the Company and the Statutory Auditors from time to time.

To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:

“RESOLVED THAT the Audited Standalone and Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2024, together with the Reports of the Board of Directors and of the Auditors thereon be and are hereby received, considered, and adopted.”

Item No. 2 – Re-Appointment of Ms. Pramadwathi Jandhyala (DIN: 00732854), a Director liable to retire by rotation:

RESOLVED FURTHER THAT the Board of Directors be and is hereby authorised to do all such acts, deeds, matters and things as may be deemed proper, necessary, or expedient, for the purpose of giving effect to this Resolution and for matters connected therewith or incidental thereto and to settle all questions, difficulties or doubts that may arise in this regard at any stage without requiring the Board to secure any further consent or approval of the Members of the Company to the end and intent that the Members shall be deemed to have given their approval thereto expressly by the authority of this resolution.”

To re-appoint a director in place of Ms. Pramadwathi Jandhyala (DIN: 00732854), who retires by rotation and being eligible, offers herself for reappointment.

To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to the provisions of Section 152 and other applicable provisions, if any, of the Companies Act, 2013 and the Rules made thereunder (including any statutory modification(s) or re-enactment thereof for the time being in force), Ms. Pramadwathi Jandhyala (DIN: 00732854) Director (Executive) of the Company, who retires by rotation and being eligible for re-appointment, be and is hereby re-appointed as a Director (Executive) of the Company, liable to retire by rotation.”

By the Order of the Board For Latent View Analytics Limited

Date: July 26, 2024 Place: Chennai

P. Srinivasan Company Secretary & Compliance Officer Membership No. F11519

Regd. Office:

5[th] Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamil Nadu. CIN: L72300TN2006PLC058481 Tel No. +91-44-4344 1700 Email Id: [email protected] Website: www.latentview.com

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Strategic Review

Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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Notes:

The Ministry of Corporate Affairs (“MCA”) inter-alia vide its General Circular Nos. 14/2020 dated April 08, 2020 and 17/2020 dated April 13, 2020, followed by General Circular Nos. 20/2020 dated May 05, 2020, and subsequent circulars issued in this regard, the latest being 09/2023 dated September 25, 2023 read with Circular No. SEBI/HO/CFD/CFD-PoD-2/P/CIR/2023/167 dated October 07, 2023 issued by SEBI read with the circulars issued earlier on the subject(collectively referred to as (“Circulars”) has permitted the holding of the AGM through VC/OAVM, without the physical presence of the Members at a common venue. In compliance with the provisions of the Companies Act, 2013 (“the Act”), SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) and Circulars, the 18[th] AGM of the Company is being held through VC/OAVM means. The proceedings of the AGM deemed to be conducted at the Registered Office of the Company situated at 5[th] Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani Chennai - 600113, Tamil Nadu.
In compliance with Sections 101 and 136 of the Companies Act, 2013 read with circulars, Notice of the 18[th] AGM along with the Annual Report for the FY 2023-24 is being sent only through electronic mode to those Members whose e-mail addresses are registered with the Company/Depositories.

In case any member is desirous of obtaining hard copy of the Annual Report for the Financial Year 2023-24 and Notice of the 18[th] AGM of the Company, may send request to the Company via email at investorcare@ latentview.com mentioning DP ID and Client ID.

The Members may also note that the Notice along with the Annual Report for the Financial Year 2023-24 has been uploaded on the website of the Company at https://www.latentview.com/investor-relations/fnancialresults-reports/. The Notice can also be accessed from the websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India Limited at www.bseindia.com and www.nseindia.com respectively and the AGM Notice is also available on the website of Central Depository Services (India) Limited (“CDSL”) (agency for providing the Remote e-voting facility) i.e. https://www.evotingindia.com.
As the Members can attend and participate in the AGM through VC/OAVM only, the facility to appoint proxies to attend and vote on behalf of the Members is not available for this AGM, and hence the Proxy Form and Attendance Slip are not annexed to the Notice.
The details pursuant to Regulations 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and clause 1.2.5 of the Secretarial Standard on General Meeting (SS-2) issued by the Institute of Company Secretaries of India, in respect of the person seeking appointment/re-appointment as Director at this Annual General Meeting (AGM) is furnished as Annexure - 1 to the Notice. The Company has received the requisite consents/declarations for the appointment/reappointment under the Companies Act, 2013 and the rules made thereunder.
The Board of Directors has appointed Mr. Rajiblochan Sarangi, Practising Company Secretary (CoP No. 17498) as the Scrutinizer to scrutinize the e-voting process in a fair and transparent manner.
Institutional Investors and Corporate Members are entitled to appoint authorized representatives to attend the AGM through VC/OAVM and vote on their behalf. Institutional/Corporate Shareholders (i.e. other than

individuals, HUF, NRI, etc.) are required to send a scanned, certified copy (PDF/JPG Format) of their Board or governing body’s Resolution/Authorization, authorizing their representative to attend the AGM through VC/OAVM on their behalf and to vote through remote e-voting, to the Scrutinizer through e-mail at [email protected] with a copy marked to [email protected] and may also upload the same at [email protected].

The Company has availed the services of CDSL for facilitating voting through electronic means.
The Members can join the AGM in the VC/OAVM mode 15 minutes before and after the scheduled time of the commencement of the Meeting by following the procedure mentioned in the Notice. The facility of participation at the AGM through VC/OAVM will be made available for 1000 members on first come first serve basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding), Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee, Auditors, Scrutinizer, etc. who are allowed to attend the AGM without restriction on account of first come first serve basis.
The attendance of the Members attending the AGM through VC/OAVM will be counted for the purpose of reckoning the quorum under Section 103 of the Companies Act, 2013.
Since the AGM is held through VC/OAVM facility, route map is not annexed to this Notice.
In case of joint holders attending the AGM, the Member whose name appears as the first holder in the order of names as per the Register of Members of the Company will be entitled to vote.
The recording and transcript of the AGM shall also be made available as soon as possible on the website of the Company at https://www.latentview.com/investor-relations/fnancial-results-reports/.
The SEBI has mandated the submission of PAN by every participant in the securities market. Members holding shares in the dematerialized form are, therefore, requested to submit their PAN details to their Depository Participant.
As per the provisions of Section 72 of the Act and SEBI Circular SEBI/HO/MIRSD/RTAMB/CIR/P/2021/601 dated July 23, 2021 as amended thereto the members holding shares in dematerialized form are requested to submit the Nomination details to their Depository Participants.
Members are requested to intimate to their Depository Participants the changes, if any, pertaining to their name, postal address, e-mail address, telephone/mobile numbers, Permanent Account Number (‘PAN’), mandates, nominations, power of attorney, bank details such as, name of the bank and branch details, bank account number, MICR code, IFSC code, etc., for equity shares held in dematerialized form.
SEBI vide its notification dated January 24, 2022 has amended Regulation 40 of the SEBI Listing Regulations and has mandated that all requests for transfer of securities including transmission and transposition requests shall be processed only in dematerialized form. In view of the above and to eliminate the risks associated with physical shares, Members are advised to maintain their shares in demat mode.

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Members may please note that SEBI vide its Circular No. SEBI/HO/MIRSD/MIRSD_RTAMB/P/ CIR/2022/8 dated January 25, 2022 has mandated the listed companies to issue securities in dematerialized form only while processing service requests, viz., Issue of duplicate securities certificate; claim from unclaimed suspense account; renewal/exchange of securities certificate; endorsement; sub-division/splitting of securities certificate; consolidation of securities certificates/folios; transmission and transposition.
The Register of Directors and Key Managerial Personnel and their shareholding, the Register of Contracts and Arrangements in which Directors are interested maintained under the provisions of the Act, Certificate from the Secretarial Auditors of the Company pursuant to SEBI (Share based employee Benefits and Sweat Equity) Regulations, 2021 and all other documents referred to in this Notice and Statement will be available for inspection during the meeting in electronic mode, and the same may be accessed upon log-in to https:// www.latentview.com/investor-relations/fnancial-results. Members seeking to inspect such documents can send an email to [email protected] requesting for inspection of the Registers.
Members are advised to not leave their demat account(s) dormant for long. Periodic statement of holdings should be obtained from the concerned Depository Participant and holdings should be verified from time to time.
Pursuant to Section 91 of the Companies Act, 2013, the Register of Members and the Share Transfer Register of the Company will re main closed from Tuesday, August 20, 2024 to Tuesday, August 27, 2024 (both days inclusive).
All the members whose names are recorded in the Register of Members or in the Register of Beneficial Owners maintained by the depositories as on Wednesday, July 31, 2024 have been considered for the purpose of sending the AGM Notice and the Annual Report.

Information and Other Instructions Relating to e-voting & AGM

A. Voting Through Electronic Means:
Pursuant to the provisions of Section 108 of the Act, read with Rule 20 of the Companies (Management and Administration) Rules, 2014, Circulars issued by MCA and SEBI in this regard and as amended from time to time and Regulation 44 of the SEBI Listing Regulations and in relation to “e-voting Facility Provided by Listed Entities”, the Members are provided with the facility to cast their vote electronically, through the e-voting services provided by CDSL, on all the resolutions set forth in this Notice.
The remote e-voting period commences on Friday, August 23, 2024 (9:00 a.m. IST) and ends on Monday, August 26, 2024 (5:00 p.m. IST). During this period, Members holding shares as on Tuesday, August 20, 2024 i.e. cut-off date, may cast their vote electronically.
The e-voting module shall be disabled by CDSL for voting thereafter. Members have the option to cast their vote on the resolutions using the remote e-voting facility, either during the period mentioned above (remote e-voting) or e-voting during the AGM.
The Members who have cast their vote by remote e-voting prior to the AGM may also attend/participate in the AGM through VC/OAVM but shall not be entitled to cast their vote on such resolution again.
The voting rights of Members shall be in proportion to their shares in the paid up equity share capital of the Company as on the cut-off date for e-voting i.e., Tuesday, August 20, 2024.

The instructions for e-voting are given herein below:

Step 1: Access through Depositories CDSL/NSDL e-voting system in case of individual shareholders holding shares in demat mode.

(i) In terms of SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/242 dated December 09, 2020 as amended from time to time, on e-voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and email Id in their demat accounts in order to access e-voting facility.

In order to increase the efficiency of the voting process, pursuant to a public consultation, it has been decided to enable e-voting to all the demat account holders, by way of a single login credential, through their demat accounts/websites of Depositories/Depository Participants. Demat account holders would be able to cast their vote without having to register again with the ESPs, thereby, not only facilitating seamless authentication but also enhancing ease and convenience of participating in e-voting process.

Pursuant to abovesaid SEBI Circular, Login method for e-voting and joining virtual meetings for Individual shareholders holding securities in Demat mode CDSL/NSDL is given below:

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Type of shareholders Login Method
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Individual Shareholders	1)	Users who have opted for CDSL Easi/Easiest facility, can login through
holding securities in		their existing user id and password. Option will be made available to
Demat mode withCDSL		reach e-voting page without any further authentication. The URL for users
Depository		to login to Easi/Easiest arehttps://web.cdslindia.com/myeasitoken/
		home/loginor visit www.cdslindia.comand click on Login icon and select
		New System Myeasi.

2) After successful login the Easi/Easiest user will be able to see the e-voting option for eligible companies where the e-voting is in progress as per the information provided by Company. On clicking the e-voting option, the user will be able to see e-voting page of the e-voting service provider for casting your vote during the remote e-voting period or joining virtual meeting & voting during the meeting. Additionally, there is also links provided to access the system of all e-voting Service Providers i.e. CDSL/ NSDL/KARVY/LINKINTIME, so that the user can visit the e-voting service providers’ website directly.
3) If the user is not registered for Easi/Easiest, option to register is available at https://web.cdslindia.com/myeasitoken/home/login and click on login & New System Myeasi Tab and then click on registration option.
4) Alternatively, the user can directly access e-voting page by providing Demat Account Number and PAN No. from a e-voting link available on www.cdslindia.com home page or click on https://evoting.cdslindia. com/Evoting/EvotingLogin The system will authenticate the user by sending OTP on registered Mobile & Email as recorded in the Demat Account. After successful authentication, user will be able to see the e-voting option where the e-voting is in progress and also able to directly access the system of all e-voting Service Providers.

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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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LatentView Analytics Annual Report 2023-2024

Pursuant to abovesaid SEBI Circular, Login method for e-voting and joining virtual meetings for Individual shareholders holding securities in Demat mode CDSL/NSDL is given below: (Contd.)

Type of shareholders Login Method Individual Shareholders 1) If you are already registered for NSDL IDeAS facility, please visit the holding securities in e-Services website of NSDL. Open web browser by typing the following demat mode with NSDL URL: https://eservices.nsdl.com either on a Personal Computer or on Depository a mobile. Once the home page of e-Services is launched, click on the “Beneficial Owner” icon under “Login” which is available under ‘IDeAS’ section. A new screen will open. You will have to enter your User ID and Password. After successful authentication, you will be able to see e-voting services. Click on “Access to e-voting” under e-voting services and you will be able to see e-voting page. Click on Company name or e-voting service provider name and you will be re-directed to e-voting service provider website for casting your vote during the remote e-voting period or joining virtual meeting & voting during the meeting.
2) If the user is not registered for IDeAS e-Services, option to register is available at https://eservices.nsdl.com. Select “Register Online for IDeAS” Portal or click at https://eservices.nsdl.com/SecureWeb/ IdeasDirectReg.jsp
3) Visit the e-voting website of NSDL. Open web browser by typing the following URL: https://www.evoting.nsdl.com/ either on a Personal Computer or on a mobile. Once the home page of e-voting system is launched, click on the icon “Login” which is available under ‘Shareholder/ Member’ section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number held with NSDL), Password/OTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-voting page. Click on Company name or e-voting service provider name and you will be redirected to e-voting service provider website for casting your vote during the remote e-voting period or joining virtual meeting & voting during the meeting.

You can also login using the login credentials of your demat account through your Depository Participant registered with NSDL/CDSL for e-voting facility. After Successful login, you will be able to see e-voting option. Once you click on e-voting option, you will be redirected to NSDL/CDSL.

Individual Shareholders (holding securities in demat mode) login through their Depository Participants (DP)

Depository site after successful authentication, wherein you can see e-voting feature. Click on Company name or e-voting service provider name and you will be redirected to e-voting service provider website for casting your vote during the remote e-voting period or joining virtual meeting & voting during the meeting.

Important note: Members who are unable to retrieve User ID/Password are advised to use Forget User ID and Forget Password option available at above mentioned website.

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. CDSL and NSDL

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Individual Shareholders holding	Members facing any technical issue in login can contact CDSL helpdesk by
securities in Demat mode with	sending a request at [email protected] contact at toll free
CDSL	no. 1800 21 09911
Individual Shareholders holding	Members facing any technical issue in login can contact NSDL helpdesk by
securities in Demat mode with	sending a request at [email protected] call at toll free no.: 022 - 4886
NSDL	7000 and 022 - 2499 7000

Step 2: Access through CDSL e-voting system in case of non-individual shareholders in demat mode. (i) Login method for e-voting and joining virtual meetingsfor shareholders other than individual holding in Demat form. 1) The shareholders should log on to the e-voting website www.evotingindia.com. 2) Click on “Shareholders” module. 3) Now enter your User ID: a. For CDSL: 16 digits benefciary ID, b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Shareholders holding shares in Physical Form should enter Folio Number registered with the Company. 4) Next enter the Image Verifcation as displayed and Click on Login. 5) If you are holding shares in demat form and had logged on to www.evotingindia.comand voted on an earlier e-voting of any Company, then your existing password is to be used. 6) If you are a frst-time user follow the steps given below: For other than individual shareholders holding shares in Demat. PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) • Shareholders who have not updated their PAN with the Company/ Depository Participant are requested to use the sequence number sent byCompany/RTA or contact Company/RTA. Dividend Bank DetailsORDate of Birth (DOB) Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the Company records in order to login. • If both the details are not recorded with the depository or Company, please enter the member id/folio number in the Dividend Bank details feld.	Step 2: Access through CDSL e-voting system in case of non-individual shareholders in demat mode. (i) Login method for e-voting and joining virtual meetingsfor shareholders other than individual holding in Demat form. 1) The shareholders should log on to the e-voting website www.evotingindia.com. 2) Click on “Shareholders” module. 3) Now enter your User ID: a. For CDSL: 16 digits benefciary ID, b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Shareholders holding shares in Physical Form should enter Folio Number registered with the Company. 4) Next enter the Image Verifcation as displayed and Click on Login. 5) If you are holding shares in demat form and had logged on to www.evotingindia.comand voted on an earlier e-voting of any Company, then your existing password is to be used. 6) If you are a frst-time user follow the steps given below: For other than individual shareholders holding shares in Demat. PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) • Shareholders who have not updated their PAN with the Company/ Depository Participant are requested to use the sequence number sent byCompany/RTA or contact Company/RTA. Dividend Bank DetailsORDate of Birth (DOB) Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the Company records in order to login. • If both the details are not recorded with the depository or Company, please enter the member id/folio number in the Dividend Bank details feld.	Step 2: Access through CDSL e-voting system in case of non-individual shareholders in demat mode. (i) Login method for e-voting and joining virtual meetingsfor shareholders other than individual holding in Demat form. 1) The shareholders should log on to the e-voting website www.evotingindia.com. 2) Click on “Shareholders” module. 3) Now enter your User ID: a. For CDSL: 16 digits benefciary ID, b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID, c. Shareholders holding shares in Physical Form should enter Folio Number registered with the Company. 4) Next enter the Image Verifcation as displayed and Click on Login. 5) If you are holding shares in demat form and had logged on to www.evotingindia.comand voted on an earlier e-voting of any Company, then your existing password is to be used. 6) If you are a frst-time user follow the steps given below: For other than individual shareholders holding shares in Demat. PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) • Shareholders who have not updated their PAN with the Company/ Depository Participant are requested to use the sequence number sent byCompany/RTA or contact Company/RTA. Dividend Bank DetailsORDate of Birth (DOB) Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the Company records in order to login. • If both the details are not recorded with the depository or Company, please enter the member id/folio number in the Dividend Bank details feld.
		For other than individual shareholders holding shares in Demat.
	PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) • Shareholders who have not updated their PAN with the Company/ Depository Participant are requested to use the sequence number sent byCompany/RTA or contact Company/RTA.
	Dividend Bank DetailsORDate of Birth (DOB) Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your demat account or in the Company records in order to login. • If both the details are not recorded with the depository or Company, please enter the member id/folio number in the Dividend Bank details feld.

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Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

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(ii) After entering these details appropriately, click on “SUBMIT” tab.
(iii) Shareholders holding shares in physical form will then directly reach the Company selection screen. However, shareholders holding shares in demat form will now reach ‘Password Creation’ menu wherein they are required to mandatorily enter their login password in the new password field. Kindly note that this password is to be also used by the demat holders for voting for resolutions of any other Company on which they are eligible to vote, provided that Company opts for e-voting through CDSL platform. It is strongly recommended not to share your password with any other person and take utmost care to keep your password confidential.
(iv) For shareholders holding shares in physical form, the details can be used only for e-voting on the resolutions contained in this Notice.
(v) Click on the EVSN of Latent View Analytics Limited to cast your vote during the remote e-voting period and for casting your vote during the Meeting.
(vi) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/ NO” for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.
(vii) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
(viii) After selecting the resolution, if you have decided to vote on, click on “SUBMIT”. A confirmation box will be displayed. If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and accordingly modify your vote.
(ix) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
(x) You can also take a print of the votes cast by clicking on “Click here to print” option on the voting page.
(xi) If a demat account holder has forgotten the login password then Enter the User ID and the image verification code and click on Forgot Password & enter the details as prompted by the system.
(xii) There is also an optional provision to upload BR/POA if any uploaded, which will be made available to scrutinizer for verification.

(xiii) Additional Facility for Non–Individual Shareholders and Custodians – For Remote voting only.

Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodians are required to log on to http://www.evotingindia.com and register themselves in the “Corporates” module.
A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to [email protected].
After receiving the login details a Compliance User should be created using the admin login and password. The Compliance User would be able to link the account(s) for which they wish to vote on.
The list of accounts linked in the login will be mapped automatically & can be delinked in case of any wrong mapping.
It is Mandatory that, a scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.
Alternatively Non-Individual shareholders are required mandatorily to send the relevant Board Resolution/Authority letter etc. together with attested specimen signature of the duly authorized signatory who are authorized to vote, to the Scrutinizer and to the Company at the email address viz; [email protected], if they have voted from individual tab & not uploaded same in the CDSL e-voting system for the scrutinizer to verify the same.
B. Instructions for Members for Attending the AGM Through VC/OAVM are as under:
A person, whose name is recorded in the register of members or in the register of beneficial owners maintained by the depositories as on the cut-off date i.e. Tuesday, August 20, 2024 only shall be entitled to avail the facility of ‘remote e-voting’ or e-voting at the AGM.
The procedure for attending meeting & e-voting on the day of the AGM is same as the instructions mentioned above for e-voting.
The link for VC/OAVM to attend meeting will be available where the EVSN of Company will be displayed after successful login as per the instructions mentioned above for e-voting.
Shareholders who have voted through Remote e-voting will be eligible to attend the meeting. However, they will not be eligible to vote at the AGM.
Shareholders are encouraged to join the Meeting through Laptops/IPads for better experience.
Further speaker shareholders will be required to allow Camera and use Internet with a good speed to avoid any disturbance during the meeting.
Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop connecting via Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their respective network. It is therefore recommended to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.
Members who would like to express their views or ask questions during the AGM may register themselves as a speaker by sending their request from their registered e-mail address mentioning their name, DP ID and Client ID/Folio number, PAN, mobile number to [email protected] on or before August 23, 2024 (5:00 p.m. IST.) Those Members who have registered themselves as a speaker will only be allowed to express their views/ask questions during the AGM. The Company reserves the right to restrict the number of speakers depending on the availability of time for the AGM.
Members seeking any information with regard to the Financial Statements or any matter to be placed at the AGM, are requested to write to the Company on or before August 23, 2024 through email on investorcare@ latentview.com. The same will be suitably replied by the Company.

LatentView Analytics Annual Report 2023-2024

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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Only those shareholders, who are present in the AGM through VC/OAVM facility and have not casted their vote on the Resolutions through remote e-voting and are otherwise not barred from doing so, shall be eligible to vote through e-voting system available during the AGM.
If any Votes are cast by the shareholders through the e-voting available during the AGM and if the same shareholders have not participated in the meeting through VC/OAVM facility, then the votes cast by such shareholders may be considered invalid as the facility of e-voting during the meeting is available only to the shareholders attending the meeting.

Instructions for those Shareholders whose Email/Mobile No. are not Registered with the Company/Depositories:

For Demat shareholders – Please update your email id & mobile no. with your respective Depository Participant (DP) which is mandatory while e-voting & joining virtual meetings through Depository.

If you have any queries or issues regarding attending AGM & e-voting from the CDSL e-voting System, you can write an email to [email protected] or contact at toll free no. 1800 21 09911.

All grievances connected with e-voting facility may be addressed to Mr. Rakesh Dalvi, Sr. Manager, (CDSL) Central Depository Services (India) Limited, A Wing, 25[th] Floor, Marathon Futurex, Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel (East), Mumbai - 400013 or send an email to [email protected] or call toll free no. 1800 21 09911.

Declaration of results on the resolutions:

a) The Scrutinizer shall, immediately after the conclusion of voting at the AGM, unblock the votes cast during the AGM and votes cast through remote e-voting and shall submit a consolidated Scrutinizer’s Report of the total votes cast in favour or against, if any, to the Chairperson or a person authorized by him in writing, who shall countersign the same. The results will be announced within the time stipulated under the applicable laws.
b) The result declared along with the Scrutinizer’s Report shall be placed on the Company’s website https:// www.latentview.com/ and on the website of e-voting service provider within two (2) working days from the conclusion of the Meeting. The Company shall simultaneously forward the results to National Stock Exchange of India Limited and BSE Limited, where the shares of the Company are listed.
c) Subject to receipt of requisite number of votes, the resolutions shall be deemed to be passed on the date of the Meeting i.e. Tuesday, August 27, 2024.
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Date: July 26, 2024 Place: Chennai

Regd. Office: 5[th] Floor, Neville Tower, Unit 6, 7 and 8, Ramanujan IT City, Rajiv Gandhi Salai, Taramani, Chennai – 600113, Tamil Nadu. CIN: L72300TN2006PLC058481 Tel No. +91-44-4344 1700 Email Id: [email protected] Website: www.latentview.com

By the Order of the Board For Latent View Analytics Limited P. Srinivasan Company Secretary & Compliance Officer Membership No. F11519

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LatentView Analytics Annual Report 2023-2024

259

Explanatory Statement Pursuant to Section 102 of the Companies Act, 2013

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review

Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis

Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

ITEM NO. 3

The following information sets out all material facts relating to item relating to Appointment of Statutory Auditors as mentioned in the accompanying Notice of the 18[th] Annual General Meeting (AGM) of the Company pursuant to Regulation 36(5) of the Listing Regulations:

The term of the current statutory auditors of the Company, M/s. B S R & Co. LLP, Chartered Accountants [ICAI Firm Registration Number: 101248W/W-100022] (‘hereinafter referred to as Retiring Auditors’) is set to expire at the conclusion of this Annual General Meeting (‘AGM’). As per the provisions of Section 139 of the Companies Act, 2013, and the rules made thereunder, M/s. B S R & Co. LLP, Chartered Accountants have completed their second consecutive term and are not eligible for reappointment.

Based on the recommendation of the Audit Committee, the Board of Directors of the Company (the “Board”), proposes the appointment of M/s. Price Waterhouse Chartered Accountants LLP, Chartered Accountants (ICAI Firm Registration No. 012754N/N500016) (“PwCA”), for a term of five years from the conclusion of this AGM till the conclusion of the 23[rd] AGM of the Company to be held in the year 2029.

The details required to be disclosed under provisions of Regulation 36(5) of the Listing Regulations are as under:

A. Proposed fees payable to the Statutory Auditors:

The remuneration proposed to be paid to the Statutory Auditors shall be commensurate with the services to be rendered by them during the said Tenure. Presently, the annual fee is proposed at ` 60,00,000 per Annum (Rupees Sixty Lakhs Only) excluding taxes and out of pocket expenses. However, the Board of Directors in consultation with the Audit Committee may alter and vary the terms and conditions of the appointment, including remuneration, in such manner and to such extent as may be mutually agreed between the PwCA and the Board of Directors of the Company.

B. Terms of appointment:

Appointment as Statutory Auditors of the Company for a term of 5 years from the conclusion of the 18[th] Annual General Meeting till the conclusion of the 23[rd] Annual General Meeting of the Company.

C. In case of a new auditor, any material change in the fees payable to such auditor from that paid to the outgoing auditor along with the rationale for such change:

There is no material change in the remuneration propsed and payable to M/s. Price Waterhouse Chartered Accountants LLP, Chartered Accountants for the year ending March 2025 in comparison to the fees paid to the Retiring Auditors for the year ended March 31, 2024.

D. Basis of recommendation for appointment:

The Audit Committee & the Board considered various parameters like Market standing of the firm, clientele served, technical knowledge, governance & competitiveness, capability to serve complex business landscape as that of the Company, requisite expertise, experience, and professionalism and recommended M/s. Price Waterhouse Chartered Accountants LLP to be best suited to be appointed as Statutory Auditors of the Company.

E. Credentials of the Statutory Auditors proposed to be appointed:

Price Waterhouse Chartered Accountants LLP, having a Firm Registration No. 012754N/N500016, is a firm of Chartered Accountants registered with the Institute of Chartered Accountants of India. The Firm was established in the year 1991 and was converted into a Limited Liability Partnership in the year 2014. The registered office of the Firm is at Sucheta Bhawan, 11A Vishnu Digambar Marg, New Delhi - 110 002 and has nine branch offices in various cities in India. The Firm is primarily engaged in providing auditing and other assurance services to its clients and is a member firm of Price Waterhouse & Affiliates, a network of firms registered with the Institute of Chartered Accountants of India having Network Registration No. NRN/E/14. Price Waterhouse & Affiliates is a network of separate, distinct and independent Indian Chartered Accountant firms, each of which is registered with the Institute of Chartered Accountants of India.

The Firm has given their consent to act as the Statutory Auditors of the Company and have confirmed that the said appointment, if made, will be in accordance with the conditions prescribed under Sections 139 and 141 of the Act. It has a valid peer review certificate and audits various companies listed on stock exchanges in India.

The Board recommends passing of this Ordinary Resolution as set out in Item No. 3 of this Notice for your approval.

None of the Directors and Key Managerial Personnel and their relatives of the Company are concerned or interested in the said resolution.

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Annexure I to the Notice

Details of Director Being Appointed at The AGM

Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

[In pursuance of Regulation 36(3) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial Standard on General Meetings (SS-2)]

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S. No. Nature of the Information Particulars
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1.	Name of Director	Pramadwathi Jandhyala
2.	Brief Profle and Nature of Expertise	She is the Co-Founder and Whole Time Director of the Companywith severalyears of experience in corporate fnance and credit rating.
3.	Date of Birth (Age)	11/10/1972 (51years)
4.	Nationality	Indian
5.	Date of First Appointment	January03, 2006
6.	Qualifcation	B. Tech (BITS Pilani) and PGDM (llM Calcutta)
7.	Directorshipof other Boards	Nil
8.	Chairmanship/ Membership of Board Committees of the	Nil
	other companies
9.	Number of meetings of the Board attended during the	5 meetings
	Financial Year 2023-24
10.	Listed Entities from which resigned in thepast threeyears	Nil
11.	Shareholding in the Company (including shareholding as	1,68,00,000 Shares (8.16%)
	benefcial owner)
12.	Terms and conditions for re-appointment	Pursuant to appointment as Whole-Time Director for a period of 5 years vide Special resolution passed in the Annual General Meeting of the Company held on
		August 05, 2021, her offce of Directorshipis liable to retire byrotation.
13.	Remuneration	`2,10,00,000/-p.a (Approved at the Annual General Meetingheld on August 05, 2021)
14.	Relationship with other Directors and Key Managerial	Spouse of A.V Venkatraman, Whole-Time Director of the Company. Apart from this, there is no inter-se relationship with other Directors and Key Managerial
	Personnel of the Company	Personnel of the Company.

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LatentView Analytics Annual Report 2023-2024

261

AGM Information at a Glance

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Particulars Details
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Strategic Review Company Overview Founders’ Address Letter to Shareholders Management Quotes Performance Review Success Stories Investment Case Growth Strategies Sustainability at LatentView Our People Philosophy Corporate Social Responsibility Corporate Governance Management Discussion & Analysis
Statutory Reports Corporate Information Board’s Report Business Responsibility and Sustainability Report Corporate Governance Report
Financial Statements Consolidated Financial Statement Standalone Financial Statement
Notice to the AGM

Time and date of AGM	August 27, 2024 (09:00 a.m. IST)
Mode	Video Conference and Other Audio-Visual Means
Helpline number for VC participation	CDSL: 1800 21 09911 NSDL: 022-4886 7000 & 022-2499 7000
Recordingand transcripts	https://www.latentview.com/investor-relations/
Cut-off date for e-voting	Tuesday, August 20, 2024
E-votingstart time and date	Friday, August 23, 2024 (9:00 a.m. IST)
E-votingend time and date	Monday, August 26, 2024 (5:00p.m. IST)
E-votingwebsite of CDSL	https://web.cdslindia.com/myeasitoken/home/login
Details of e-voting service provider	Central Depository Services (India) Limited, A Wing, 25thFloor, Marathon Futurex, Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel (East), Mumbai–400013 Toll free no. 1800 21 09911 E-Mail:[email protected]
Details of Registrar and Share Transfer Agent	Link Intime India Private Limited C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai–400 083 Tel: +91 22-4918 6000 Fax: +91 22-4918 6060 Email: [email protected]

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LatentView Analytics Annual Report 2023-2024

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Latent View Analytics Limited 5[th] Floor, Neville Tower, Block A3 Ramanujan IT City SEZ, Rajiv Gandhi Salai (OMR), Taramani, Chennai - 600 113, India E: [email protected] T: +91 044 4344 1700

AI assistant

Latent View Analytics Limited — Annual Report 2024

59599_rns_2024-08-05_d9b5b309-adaa-4bc1-a89b-3a9e186b4165.pdf

AGM Information at a glance:

P. Srinivasan

ACTIONABLE INSIGHTS. Accurate Decisions.

Inside the document

01 Strategic Review

Forward looking statement

Empowering businesses with data analytics

1. Strategic Review Company Overview

30+

Company Overview

A business with a purpose

1. Strategic Review Company Overview

Potential Synergies of the DP Acquisition

Outlook

Winning the world over Team strength

Company Overview > Our team

Company Overview

Soul of our success

Company Overview

Metrics that matter

₹ mn 1,586

VoC Voice of the Customer

90%

Metrics that matter

Company Overview

1. Strategic Review Company Overview

Company Overview > Solutions and services

Human-centric questions. Data-centric answers.

Consulting

Business intelligence & insights

We specialise in:

We:

Data modernization

We:

We assist in:

1. Strategic Review Company Overview

Earning global recognitions & accolades

Customer analytics

Company Overview

Performance Review

Company Overview > Advisory council Driving excellence through industry leaders

Advisory council

Advisory Council Members:

A panel of industry leaders

TV Kumaresh

Partnerships

Company Overview

From insights to impacts

Illustrative list of clients

Performance Review

Investment Case

Company Overview

3. Financial Statements Consolidated Financial Statement Standalone Financial Statement

Technology

Key offerings

71.0% Revenue contribution in FY24 vs. 68.9% in FY23

Industrials

Key offerings

CPG & Retail

The CPG & Retail industry has experienced a profound transformation in recent years, with many developments accelerating the pace of change.

Key offerings

Key offerings

Company Overview

Performance Review

Unlocking business potential with GenAI accelerators

End-to-End AI Workflows with NVIDIA

Experience with Leading AI Technologies

Accelerators for Quick Wins and Business Outcomes

Company Overview

Performance Review

Investment Case

Management Discussion & Analysis

Enhanced Capabilities through DP Acquisition

Beagle features

Performance Review

LATENTVIEW’S GENERATIVE AI COLLABORATION Background with world’s leading A global technology leader, sought to enhance its decision-making processes by leveraging GenAI. The primary objective was to build a Minimum Viable Product (MVP) for search engine provider

Conclusion

Latent View Analytics Limited Annual Report 2024