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Arms Paper Ltd.

BSE: 532397 Sector: Others
NSE: N.A. ISIN Code: INE971A01014
BSE LIVE 11:56 | 24 Nov 2.35 -0.12
(-4.86%)
OPEN

2.35

HIGH

2.35

LOW

2.35

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 2.35
PREVIOUS CLOSE 2.47
VOLUME 50
52-Week high 3.90
52-Week low 2.35
P/E
Mkt Cap.(Rs cr) 1.30
Buy Price 2.35
Buy Qty 650.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2.35
CLOSE 2.47
VOLUME 50
52-Week high 3.90
52-Week low 2.35
P/E
Mkt Cap.(Rs cr) 1.30
Buy Price 2.35
Buy Qty 650.00
Sell Price 0.00
Sell Qty 0.00

Arms Paper Ltd. (ARMSPAPER) - Chairman Speech

Company chairman speech

CONTECH SOFTWARE LIMITED ANNUAL REPORT 2002-2003 CHAIRMAN'S REPORT TOWARDS THE GLOBAL FUTURE Contech Software Limited (CSL) is an innovative software services company registered with Software Technology Parks of India (STPI) at Gandhinagar, India. With clients in the USA, UK, Israel, Italy and India, Contech is well on its way to becoming a truly global company. CSL's world-class, 24,000 sq. ft. development center, set on a 2-acre campus at Gandhinagar, in Western India - housing state-of-the-art Avaya certified CAT 6 networks, High-speed connectivity, high-end audio-video conferencing equipment, fully digital exchange, a dedicated training wing, modern library, cafeteria and recreational facilities is a hub for high value software development. CSL specializes in providing customized offshore and onsite software solutions in the technology areas of Business Applications and Embedded Technologies. VISION To be globally identified as a quality conscious company for innovative Software and Embedded solutions. MANAGING DIRECTOR'S MESSAGE The year 2002-2003 was a challenging year for the India software industry. Its growth was impacted by several factors. Series of misfortunes had hit the economies around the world during the last couple of years. Such misfortunes which include September 11 attack, Iraq war, global slowdown, stump in the US economy and falling technology spends, have all taken their toll on the IT industry. However, despite severe pressures on the IT industry, your company has survived the slowdown and has successfully completed six years of full operations in the software services industry. To us, the most important concern is that how your company treated the adverse domestic and global circumstances of fiscal year 2002-03 as an opportunity to restructure the operations. We have formulated several strategies for the financial, business and technology path of your company in the coming years. The steps we have taken are towards the goal of becoming a focussed and profitable services provided in Embedded and E- Business areas. Your company continues to optimize its offshore delivery model to service its clients. Your company's services include consulting, application design, development, re-engineering, maintenance and testing. Customers have always been central to your company. During 2002-03, every employee redoubled the efforts to satisfy our valued customers, to sustain the operations and to pave way for future growth and profitability. Your company believes that the environment will remain challenging in the new financial year. Customers will continue to focus on higher return on their investments that would continue the pressure on your company's billing rates as well as payment cycles. However, I would like to reiterate that your company's vision is to be a globally identified corporation that provides best of the solutions and services, based on latest technologies, delivered by a strong and dedicated team with in-depth expertise. Rest of this letter highlights some of our initiatives towards that goal. INFRASTRUCTURE Your company firmly believes that World-Class infrastructure and internal IT initiatives are key drivers of scalable and sustained corporate excellence. The continuous focus is on information infrastructure and environment such that it: - Drives information availability to a global work force, - Enables scalable, sustained excellence in execution, - Enhances employee and process productivity, and - Further strengthens our client partnerships. This will complement earlier year's focus of building an ideal 24,000 sq. ft. workspace for around 300 software professionals, a dedicated training center, a modern library and recreation facilities. HUMAN RESOURCE MANAGEMENT The key strength of your company is its employees. Your company has been able create a favourable work environment that encourages innovation. Your company has put in place a scalable recruitment and human resource management process, enabling it to attract and retain highly skilled people. New entrants are put through appropriate initiation and technical training. Also, continuous training is planned throughout the year for engineers at all levels. Process improvements have also been made in the areas of recruitment, training and visa processing apart from software development and testing. In addition, all confirmed employees are eligible for your company's Employee Stock Option Plan (ESOP). CONTECH WORLDWIDE CSL has a wholly owned subsidiary in the USA and a branch office in UK and Italy. We have also established Marketing Alliance Partnerships (MAPs) in Israel, Italy, UK and USA. Also, periodic visits are taken up by senior persons in the company for customer and prospect meetings as well as to attend major trade shows in target Markets. Through our increasing global presence, we are able to know the latest trends as well as ground realities of our markets. This kind of coverage will continue to help us refine our growth strategies. TECHNICAL ALLIANCES In a globalised environment, a company is known by the companies it is seen with. Such an apparent impression however stems from the undeniable fact that a good partner or associate always adds depth and scope to one's activities. Towards this end, we already have a technical alliance with Microsoft, Oracle and Rational. We are in the process of forging technical alliance with Sun, Intel, Motorola and other microprocessor manufacturers as well as RTOS provides. QUALITY ROADMAP Your company firmly believes that quality is one of the most critical components for competitive success in the global market. Your company has achieved high maturity through adherence to highly evolved processes, which have been systematically benchmarked against world-class operating models. Your company was assessed at SEI CMM level 3, which is the would class benchmark in software process management. To address the challenging of the future and to ensure performance improvement, regular and rigorous internal assessment takes place to identify the areas that need improvement so that we continue to march towards SEI CMM Level 5. CLIENTS During last years, we have lost several clients due to either drastic downsizing of their operations or even closures of some of our clients, resulting in revenue losses. This is also reflected in our bottom line. However, in the new financial year, we are certain of adding new clients based on our increased focus in chosen areas of business. Because of last two years industry slowdown, we have continued to build our strengths in terms of focussed approach, world-class infrastructure and quality, more domain knowledge and dedicated work force, we are certain that it is only a matter of time before many global customers decide to work with us. FUTURE Based on the recent increase in the inquiries and trial orders, we are very confident about our future. Going forward, we have identified several areas of strengths, which will help our growth plans. Some of them are outlined below: - The ability to understand a client's requirement and to offer a credible technology solution addressing the problem. - Ability to maintain skill sets on selected technologies and ensuring depth. - Quality processes based on SEI CMM Level 3 and beyond. - The ability to attract and retain high quality people. - Flexible, client focussed organization structure. With all these and many other strengths coupled with focussed approach will help your company to emerge as a strong IT solution provider company in the coming years. CREDITS The fact that we have come this far owes its existence to many individuals, organizations and government agencies. Your directors thank the company's clients, vendors, investors and bankers, STPI - Gandhinagar, Reserve Bank of India, Customs Department, Information Technology Department of Govt. of Gujarat and Gujarat Informatics Ltd., for their continued support during the year and look forward to their continued support in the future. Your directors place on record their appreciation of the contribution made by employees at all levels, who, through their competence, hard work, solidarity, cooperation and support, have enabled the company to achieve consistent growth. For and on behalf of the Board of Directors Rajan K. Vasa Gandhinagar : 21st June, 2003 Chairman & Managing Director

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