Notes to the Standalone Financial Statements as at and for the year ended March 31, 2024
Notes to the Standalone Financial Statements as at and for the year ended March 31, 2024
(c) Details of transactions with related parties
Sr. No Name of the party
Nature of relationship Step-down subsidiary
26 Fractal Analytics (Shanghai) Limited (Subsidiary of Fractal Private Limited, Singapore) 27 Fractal Analytics Malaysia SDN BHD (Subsidiary of Fractal Private Limited, Singapore) 28 Qure Technologies Inc. (Subsidiary of Qure.ai Technologies Private Limited) (up to April 07, 2022) 29 Asper.AI Technologies Private Limited (w.e.f September 01, 2023) (Refer note 3 below) (Formerly known as Samya.AI Technologies Private Limited) 30 Fractal Analytics Australia Pty Limited (Subsidiary of Fractal Private Limited, Singapore)
(in Rupees million) March 31, 2023
Sr. No Nature of Transaction
March 31, 2024
Step-down subsidiary
A Transactions 1
Managerial remuneration^ Mr. Srikanth Velamakanni
Step-down subsidiary
57 10
54 10
Ms. Somya Agarwal
Step-down subsidiary
2
Investment in equity shares of subsidiary company Fractal Alpha Private Limited Deemed Investment in subsidiary company (Refer note 7) Fractal Analytics Incorporated, USA
Step-down subsidiary
-
5
3
31
Theremin Multi Strategy Fund LLP (Subsidiary of Theremin AI Solutions Private Limited)
Step-down subsidiary
264 109
253 216
Fractal Analytics UK Limited, UK Senseforth AI Research Private Ltd
32 Asper.AI Inc (formerly known as Samya.AI Inc.) (Subsidiary of Fractal Analytics Incorporated, USA) 33 Senseforth Inc. (Subsidiary of Fractal Analytics Incorporated, USA)
Step-down subsidiary
19
36 19
Neal Analytics LLC
-
Step-down subsidiary Step-down subsidiary
4
Reimbursement of expenses Fractal Analytics Incorporated, USA Asper.AI Technologies Private Limited
34 Asper.AI Limited
(formerly known as Samya.AI Limited)(Subsidiary of Samya.AI INC., USA)
48 52
-
35 Eugenie.ai Inc. (Subsidiary of Fractal Analytics Incorporated, USA) 36 Neal Analytics LLC (Subsidiary of Fractal Analytics Incorporated, USA) (Refer note 4 below) 37 Analytics Vidhya Inc. (Subsidiary of Analytics Vidya Educon Private Limited, India) (w.e.f. August 8, 2023) 38 Fractal Frontier Inc (Subsidiary of Fractal Alpha Private Limited, India)
Step-down subsidiary Step-down subsidiary
27
Fractal Analytics UK Limited
1 5 7 1 0 0 0
-
Eugenie Technologies Private Limited Senseforth AI Research Private Ltd Theremin AI Solutions Private Limited Fractal Analytics (Canada) Inc.* Fractal Analytics Australia Pty Ltd.*
7
Step-down subsidiary
14
3
Step-down subsidiary Step-down subsidiary Step-down subsidiary
- - -
39 Fractal Japan KK (Subsidiary of Fractal Private Limited, Singapore)
40 Qure.ai Technologies Limited , UK
Fractal L.L.C-FZ*
(Subsidiary of Qure.ai Technologies Inc.) (up to April 07, 2022)
5
Expenses incurred for the Company Senseforth AI Research Private Limited Eugenie Technologies Private Limited
41
Tario Partners LLP
Entity in which director is interested
5 1
- -
Note 1 Subsequent to year end, Cuddle.ai Inc. one of step down subsidiary has filed for dissolution dated April 24, 2024 with State of Delaware to be effective from March 31, 2024. Note 2 D uring the year, Final Mile Consultants Private Limited sold its shares in Final Mile Consulting LLC to Fractal Analytics Inc., USA and accordingly Final Mile Consulting LLC has become indirect subsidiary w.e.f September 30, 2023. Note 3 D uring the year, the Company had sold the shares of Asper.ai Technologies Private Limited to Asper.AI Inc, accordingly Asper.AI Technologies Private Limited has become indirect subsidiary w.e.f September 01, 2023. Note 4 Subsequent to year end, Neal Analytics LLC has been merged to subsidiary Fractal Analytics Inc. vide board resolution dated April 04, 2024.
Cuddle.ai Inc, USA
-
2
Fractal Alpha Private Limited*
0 2 1
- - -
Cuddle Artificial Intelligence Private Limited Neal Analytics Services Private Limited Reimbursement of expenses of shared office Theremin AI Solutions Private Limited* Eugenie Technologies Private Limited Senseforth AI Research Private Limited Asper.AI Technologies Private Limited Interest income Eugenie Technologies Private Limited* Fractal Alpha Private Limited*^^
6
0 2
3
(b) Key managerial personnel Sr. No Particulars
10
Nature of relationship
10
8 5
9
1
Mr. Srikanth Velamakanni
Whole-time Director
7
2
Mr. Pranay Agrawal
Non- Executive Director
1 0 1
1 0 4
3
Mr. Gulu Mirchandani (upto April 26, 2024)
Non- Executive Director
4
Mr. Sasha Gulu Mirchandani (w.e.f. April 26, 2024)
Additional Director
Senseforth AI Research Pvt. Ltd^^ Revenue from operations Fractal Analytics Incorporated, USA
5
Mr. Rohan Haldea
Non- Executive Director
8
6
Mr. Anurag Sud
Non- Executive Director
8,463
7,160
7
Mr. Gavin Patterson^
Non- Executive Director
Final Mile Consulting LLC
36
39
8
Mr. Puneet Bhatia
Non- Executive Director
Cuddle.ai Inc, USA*
0 0 2
2
9
Mr. Vivek Mohan
Non- Executive Director
Neal Analytics LLC USA*
350
10
Ms. Karen Ann Terrell**
Independent Director
Final Mile Consultants Private Limited*
-
11
Ms. Neelam Dhawan**
Independent Director
*Denotes amount less than C 1 million. 9
12
Ms. Somya Agarwal
Company Secretary
Income from unwinding of interest and guarantee fees
166
167
Fractal Analytics Limited | Annual Report 2023-24
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