SoftTech Engineers Limited — AGM Information 2021

Sep 30, 2021

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To,

National Stock Exchange of India Limited

Bandra-Kurla Complex Bandra (East) Mumbai – 400 051

SYMBOL: SOFTTECH

30[th] September, 2021

Sub: Proceedings of 25[th] Annual General Meeting

Dear Sir/ Madam,

It is to inform you that the 25[th] Annual General Meeting (AGM) of the Company was held on Thursday, 30th September, 2021, at 2:30 P.M through video conferencing (‘VC’) / other audio visual means (‘OAVM’) to transact business as stated in Notice convening 25[th] AGM dated 4[th] September, 2021.

In this regard, please find enclosed herewith Summary of the proceedings of the Annual General Meetings of the Company as required pursuant to Regulation 30 of SEBI (LODR) Regulation 2015.

This is for your information and records.

Thanking you.

Yours Sincerely,

For SoftTech Engineers Limited

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Aishwarya Patwardhan Company Secretary

Encl: As above

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SUMMARY OF PROCEEDING OF THE 25[th] ANNUAL GENERAL MEETING OF SOFTTECH ENGINEERS LIMITED:

Date, time and venue:

Twenty Fifth Annual General Meeting of the Members of SoftTech Engineers Limited was held on Thursday, 30th September, 2021, at 2:30 P.M through video conferencing (‘VC’) / other audio visual means (‘OAVM’) in compliance with the Companies Act, 2013 and relevant circulars issued by the Ministry of Corporate Affairs and SEBI from time to time. The Company had availed evoting and VC/OAVM facility from National Securities Depository Limited (NSDL).

PROCEEDINGS AT THE MEETING:

Mr. Vijay Gupta, Chairman and Managing Director of the Company chaired the meeting. He welcomed the members present at the meeting. The requisite quorum being present, the Chairman called the meeting in order.

12 members attended the meeting through Video Conferencing/ other audio visual means (‘OAVM’) mode.

Present Directors:
Mr. Vijay Gupta	Chairman and Managing Director
Mrs. Priti Gupta	Whole Time Director
Mr. Pratik Patel	Whole Time Director
Mr. Sridhar Pillalamarri	Independent Director
Ms. Wai Ki Chan	Nominee Director
In Attendance:
Ms. Aishwarya Patwardhan	Company Secretary and Compliance officer
Mr. Kamal Agrawal	Chief Financial Officer
Mr. Devesh Tudekar	Secretarial Auditor and Scrutinizer

The Chairman informed that the Statutory Registers and other applicable documents were available for inspection by any members electronically. The Annual Report was taken as read.

Thereafter Chairman commenced the proceedings of 25[th] Annual general Meeting.

The Chairman presented before the members the Annual Financial Highlights for FY 2020-21, qualitative progress during current year and plans for near future. He further briefed on impact of COVID-19 on the Company and its mitigation strategies. Detailed presentation is enclosed herewith.

Since there are no qualifications, observations or comments on financial transactions or matters, which have any adverse effect on the functioning of the company mentioned in the Statutory or Secretarial auditor’s report the same is not required to be read at this AGM according to Section 145 of the Companies Act, 2013.

The Chairman informed the Board that as per AGM notice, 3 proposals under Ordinary Business and 3 proposals under special business are proposed for approval of members as per details hereinunder:

Ordinary Business:

1. To receive, consider and adopt the Standalone and Consolidated Audited financial statements as on 31st March, 2021 and the Reports of the Board of Directors and the Auditors thereon

2. To appoint a director in place of Mr. Pratik Patel (DIN: 08798734), who retires by rotation and, being eligible, offers himself for re-appointment.

3. To appoint M/s P G Bhagwat LLP, Chartered Accountants (Firm Registration No. 101118W/W100682) as Statutory Auditors of the Company

Special Business:

1. To consider waiver of excess managerial remuneration

2. To fix the managerial remuneration for Mr. Vijay Gupta, Chairman and Managing Director (DIN : 01653314)

3. Issue of Equity Shares on a Preferential Issue/Private Placement Basis

The Chairman informed that the Company had provided to the members facility to cast their vote electronically on all the resolutions set forth in the notice and have appointed Mr. Devesh Tudekar, Practicing Company Secretary as a scrutinizer for remote e-voting as well as voting at the time of meeting.

The members were informed that the results of the e-voting will be declared on receipt of the scrutinizer’s report within 48 hours from the AGM and shall be placed on the Company’s website and will be sent to the stock exchanges.

Thereafter, the Chairman conducted Question Answer session. Queries asked by the shareholders on designated email id were responded by the Chairman.

Thereafter, the Chairman informed that the e-voting facility will remain open for the next 15 minutes to enable those members who have not cast their votes through remote e-voting to exercise their votes at the meeting and requested all the members to cast their votes.

The web-link to connect to the meeting was disabled at 3.25 P.M.

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SoftTech Engineers Limited

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25[th] Annual General Meeting

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Agenda

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1. Leadership Position

2. Collaborations

3. CIVIT Platform

4. Inorganic

5. Plan

6. Financials

7. The new Beginning

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Leadership Position

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Software leadership in AEC

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World’s Select Software company which provides –

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BIM and GIS Enabled construction Technology and Building Management Solutions

Offers SaaS products to Governments, Architects, and Contractors – entire AEC value chain

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Integrates AI /ML and AR/VR for Construction efficiency and Project Management

Has offerings like – • BIM Based Building permit • BIM+GIS enabled Infrastructure Management • BIM Integrated iBMS

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Maintainin the Leadershi osition g p p

Partnerships

BIM Adoption

India DIGITAL Opportunity

1

Approx. Software / automation spend of $ 100 mn in Smart cities, public Position services automation and Infrastructure planned by GOI in India

Partnerships and collaborations with strong global Industry leaders like ESRI, Autodesk, RIB, Microsoft, etc. will continue to drive further

The future Is BIM, and the adoption of BIM, and launch of BIMDCR are key drivers triggering huge opportunities and leadership in BIM tech

For Overseas Building Development Traction and speed of Permit – Progress in US puts the Take to companies overseas work on fast tract and priority. BIM the based platform will be key overseas driver

Improved Revenue Model

New Age Technologies

Focus on Increasing the share of Transaction based, and recurring revenue brings a low upfront investment option to customers and accelerated growth to SEL

Integration of AI/ML and AR/VR in the cloud based CIVIT will drive the future of the company’s products

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Top Facilities + Resources

Moved to a world class Office premises, and providing top amenities and facilities to attract and retain talent will drive the company's strength

Start-Ups

They are leading the tech revolution. SEL is ready with incubation program for AEC focused deep tech start ups to tap technology and leadership early

World

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Our Achievements

1 Million + Building Permits Approved Through Civit

1 BUILDING PERMIT EVERY 5 MINUTES approved through CivitPERMIT

UP TO 80%

1 Billion + Sq. Ft. Area Approved Through Civit

Time Saved with Automation & Efficiency

50,000+ Hectares Developed Industrial Land Managed

233 Industrial Parks

100,000+ Infra Assets

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1,000+ Permits Get Approved Per Day

600+ Urban Development Government Agencies use CivitPERMIT

100,000+ Users

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Collaborations

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Year of Collaborations

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In your company, the Best in the world Trust

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Collaborations – Our Growth Drivers

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Set to Launch world Class offerings, and unlock huge value from core technologies

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BIM based iBMS solutions and Smart city Projects GIS based urban Infra management and permit system

CAD/BIM based Building approval System

BIM based capital project management suite for International market Global partner for Digital City Management system

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CIVIT Platform

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CIVIT: We are launching the Cloud Platform

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Scalable
Developed keeping in
Decision making tool mind increasing demands
Business intelligence of growing business
and dashboard
Access
Anywhere
Anytime
Web Based,
Cloud ,Mobile
App
Futuristic
Developed
keeping in mind
rapidly
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A First of its kind Built to Suite Cloud Platform that will enable permits, management, control of AEC assets merging all its successful products in one window

• Only technology in the world that AUTOMATICALLY READS – 2D and 3D drawings (CAD and BIM)

• A self developed Rule Engine which can map any cities Development control Bye laws / Rules and configure them automatically across the World

• Uses IOT and AI / ML, BIM and GIS in its on cloud offering for a single window construction and Infrastructure management for Smart cities and Corporations and Disaster Management Assistance

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Offerings

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Complete offering for all elements in Real Estate, Construction and Infrastructure Industry

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Governments

80%+ Authorities in India use CIVIT Permit for Building permit Solutions. Most Infra and Works department function on CIVIT Infra including MIDC

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Builders

CIVIT Build a unique Builder Business Management Software on Login based version addressing all business requirements

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Citizen

CIVIT PLAN and RuleBuddy offer a comfortable pre decision support for any land or property purchase form compliance point of view (Available in App form)

SAAS

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OFFERINGS
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Contractors

All major contractors connected to the works and Infra department are indirect users of CIVIT infra who can become direct users of CIVIT Build

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Architects

All Architects are indirect users of CIVIT Permit through Government portals and who can become direct users of CIVIT Plan

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Other stake holders

Banks, Financial Institutions, rating agencies etc. can do a Pre approval technical report from CIVIT Plan / Rule Buddy

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Inorganic

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Inorganic Approach

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We have immense Domain expertise to nurture new technologies

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Launched the First and only Start-up corporate venture for AEC vertical technologies to groom and develop leaders of tomorrow.

SEL top management will provide deep domain expertise to path breaking technologies in AEC industry and help create value for Customers and Shareholders

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Digital Built Environment Ecosystem

As a first of its series of technology development Investments, SEL is glad to announce investment in a Singapore based Building Energy management platform

Btr Lyf solution, is an AI based cloud platform offering complete Building Energy Management Solutions including aggregation platform

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Plan

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The Plan

1

Technology BIM + GIS

Transform the Products and Offer on Cloud Versions with latest tech, and BIM + GIS integration

2

SaaS Based Offerings

Company has migrated all the products on the cloud for Civit Platform and to offer products in international market under SaaS Model

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3

Over Seas Expansion

The company is on a threshold of some major breakthroughs in overseas markets especially in the US, and product-market alignment in progress

4

Strong Global Partnership

Focus is on MNC partnerships for product penetration and Global market Access Few in last stages are – IBMS, Energy management solutions, GIS enabled products

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Vision: 2024

#1

No. 1 in BIM Based cloud Permit system in the world

No. 1 platform connecting Government, Private Enterprises and Citizens in AEC vertical

25 Counties / Cities in US

25

• $25mn Annual Topline

25%+ EBITDA Margin; creating a $100mn Enterprise

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Steps

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A significant Investment Outlay is planned to make SoftTech a Global Player

Next Round, for global expansion

Launching CIVIT and leveraging global partnerships

Migrating to Main Board

Preferential Allotment

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Financials

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Historical Financials

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Amt. in INR Lacs

	Particulars	2016-17 2017-18 2018-19 2019-20	2020-21
	Revenue Operating Revenue Other Income Total Revenue Revenue Growth % Cost of Sales Raw Material cost Employee Cost Outsourcing Expenses Selling & Administrative Expenses EBITDA EBITDA Margin Depreciation PBIT Financial Cost PBT Provision for Taxes PAT PAT Margin	4,671.8 5,154.2 6,275.5 5,794.7 46.3 45.0 78.8 96.7	4,157.4 99.8
		4,718.2 5,199.2 6,354.3 5,891.4	4,257.1
		10% 22% -8% 723.6 440.9 492.3 621.9 808.8 836.8 1,000.0 1,116.5 1,395.6 1,808.2 2,486.5 1,905.6 446.4 545.4 747.4 742.1	-28% 475.4 1,085.3 997.9 543.7
		3,374.4 3,631.3 4,726.2 4,386.1	3,102.3
		1,343.8 1,567.9 1,628.1 1,505.3	1,154.8
		28% 30% 26% 26% 373.7 378.0 404.2 371.9	27% 489.6
		970.1 1,189.9 1,223.9 1,133.3	665.2
		237.0 226.8 168.4 169.2	237.6
		733.1 963.1 1,055.6 964.1	427.6
		241.4 283.7 313.1 314.8	155.4
		491.8 679.4 742.5 649.3	272.2
		10% 13% 12% 11%	6%

COVID -19 Impact

• 28.45% decrease in the revenue in FY 21, Largely due to reduction in services and implementation revenue which was because of delayed order confirmations, milestone approvals and other procedural issues due to lockdown. Also the situation meant that many Govt. departments were focused on pandemic management

• Though the revenue has decreased, the EBITDA margin has increased largely due to – Increase in O & M, AMC & Transaction Based Revenue, leading to a decrease in cost of Professional Consultants for implementation

• Transaction based revenue stream was also impacted as lockdown from the March-20 to Sept-20 led to reduced plan submissions for approvals. Overall Order book remained strong

• For One time Licensing business, order book execution got delayed due lockdown and minimum only essential functioning of Government Offices

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Revenue Migration

Service Wise Revenue

Order Book

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Amt. in INR Lacs

Revenue Break-Up	FY 17	FY 18	FY 19	FY 20	FY 21
Licensing & Implementation	2,370.7	1,550.9	2,294.8	1,800.7	969.0
Operation & Maintenance incl. AMC	487.9	798.8	1,134.4	1,486.5	1,562.6
Transaction Based	458.3	720.7	995.5	980.8	810.9
Allied Product Sales	796.1	518.1	518.0	709.3	509.1
Professional Services Total	558.9 4,671.8	1,565.7 5,154.2	1,332.8 6,275.5	817.4 5,794.7	305.8 4,157.4

Revenue Mix FY 17 & FY 21

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FY 17 FY 21
12%
17%
31%
63%
20%
57%
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One Time Revenue Recurring Revenue Others

Recurring Revenue

INR ~187.50 Cr+ Order Book + pipeline ( India)

INR ~75 Cr+

Transaction Based Orderbook +Pipeline

Revenue Migration

• One Time License model remains very strong in the current order book

• Company has successfully reversed the revenue mix from One Time Revenue (61% to 31%) to Recurring Revenue as majority (20% to 56%)

• Also in the past 5 years company has been focused on own products revenue and reduced Services business; own products revenue has increased from 70% in FY 17 to 80% in FY21

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Rebooting with a completely digital Roadmap unveiling, SOFTTECH 2.0

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Thank You