COMP-U-LEARN TECH INDIA LIMITED
ANNUAL REPORT 2009-2010
At the very outset, I wish to thank all of you for the formidable
confidence reposed in Board of directors all along for the past several
Today really a commemorable and landmark day in the history of your
Company. It may not be Silver Jubilee day, Golden Jubilee day but for us it
is indeed greater than that. Till the end of Financial Year 2008-09, the
Company had just been sprawling with meager turnovers of Rs. 2.6 crores for
all these years. The Company remained for almost 12 years with low
turnovers marked by poor growth.
The year under review, your Company has grown manifold. Company posted
Consolidated turnover of Rs.28,46 crores and net profit of Rs.3.68 crores
registering growth of 423% in turnover and 281.37% in Net Profit over the
previous year. Hence, it is justified to declare this year as landmark year
in the history of the Company.
It is undoubtedly a moment of immense pleasure and pride for all of us for
being part of this inspiring journey, I wish to pronounce it. I hope you
all will endorse my saying/pronouncement as inspiring journey when you hear
more about the finance performance and structural initiatives for the
growth of the Company that took place during the year.
Before I twelve on Financial performance and structural initiatives, I
just take you round the brief background from where we really started this
journey. In February 2008, just two complete Financial years back, the
present management took over control of the Company from the erstwhile
Promoters. When we took over in February 2008, there were accumulated
losses of Rs. 6.70 cores as at 31st March, 2008. Started from this deep
down, it took us two full years to come out of red.
Right from 1997, the year of incorporation till 2007-08 under the reins of
erstwhile Management the Company witnessed hardly any growth. Turnovers
during all these years were just single digit and less than Rs. 6 Crores.
The Financial year 2008-09 was really transitional year where we could not
It is the year 2009-10 which has really paid us for our honest hard work
and dedication for the past two years. During this year, we were able to
build some group companies enabling company to have a consolidated turnover
and growth. During the year company posted Revenues at Rs.28.46 Crores and
Net Profit at Rs. 3.68 Crores. Further on standalone basis also our growth
is Spectacular. Standalone basis Revenues and Net profit for the year
stands at Rs. 14.31 Crores and Rs.2.18 Crores respectively which represents
growth of 163.54% in Revenues and 126% in Net Profit.
Your Company was originally into business of software development and
education training. During the past two years, our focus was shifted to e-
governance solutions to Government departments of State and Central
Governments. During the year, we were able make a dent in e-governance
business market and made headway in the process with good order book
position from Goa Government and other State Governments.
To broaden base of our operations and increase geographical presence so as
to become global player, the following growth initiatives were undertaken:
a) The Company has acquired 55% stake in M/s Spry Resources India Pvt. Ltd-
a Hyderabad based Software Company in Similar line to have increased
strengths and leverages.
b) Acquired 60% stake in M/s ACE BPO Services Pvt. Ltd - a Healthcare &
Insurance BPO Company to foray into BPO space.
c) Acquired 51% stake in Comp-u-learn Middle East FZC in Dubai for
Spearheading growth drive for development of business in Middle East and
d) Acquired 100% stake in Astus Technologies Inc USA to have presence in
USA and increase the business scope through further acquisitions in USA and
e) Floated 100% subsidiary in Hong Kong as a multipurpose vehicle for
increasing our footprints in Globe, business development and leverages and
mobilizing resources requisite to aid growth momentum.
ORGANISATION STRUCTURE, HUMAN RESOURCES AND INFRASTRUCTURE
Our strategic thrust is founded on our ability to continuously invest in
existing and new capabilities. Our People, Infrastructure and Technology.
As an offshoot of this our main assets today is pool of diverse core
competencies in different segments and diversified areas of business. As
such, our Organisation structure has been so designed and built over a
period of time shaping the company to pursue new avenues of growth without
diluting focus on existing line of business.
SHAPING COMP-U-LEARN OF TOMORROW:
MAJOR GROWTH DRIVERS:
1. E-GOVERNANCE SPACE:
In order to broad-base Project execution Skills, Strengths, maximize
business leverages your Company has during the year, added great feather in
its net e-governance space, by acquisition of 55% stake in M/s Spry
Resources India Pvt. Ltd, a player in thus space.
Like a thunder bolt as the aid of our growth, e-district, a major e-
governance initiative taken by the Ministry of Communication and
Information Technology (MCIT) as part of National e-governance-plan (NeGP)
of Government of India. NeGP vision aims at creating a citizen centric
environment for governance. To implement the vision of NeGP, twenty seven
Central, State and integrated Mission Mode projects (MMPS) along with eight
support components have been identified and approved to enable and
facilitate rapid introduction of e-governance in the country, with focus on
Highlights of this e-governance initiative of the Government is funds
allocated towards this mission. e-Goverance spend by Indian Government on
NeGP plan is Rs. 46,000 Crores. Out of this, even if small pie we get,
would be sufficient enough to take our Company to greater heights. We are
confident of definite market share in the segment and your company will
have promising future.
2. DIVERSIFICATION PLANS:
a) SOLAR POWER PROJECT
Your company is aggressively making strides with a mission to become a
player in the Infrastructure segment with power generation's its main focus
in this segment. The Company envisages to set up on standalone basis and
its name 5 MWS Solar Power Project under the Scheme of New grid connected
Solar Photo voltaic projects - phase 1 of Jawaharlal Nehru National Solar
Mission (JNNSM). NTPC Vidyut Vyapar Nigam Ltd (NWN) is a Nodel agency for
inviting proposals from private players for setting up of grid connected
Solar PV Projects for purchase of power for a period of 25 years. The
tentative outlay for the Solar Power project is estimated at Rs.100 Crores
which proposed to be met by the company partly by equity, partly by loans
from Banks or Financial Institutions and partly by Government subsidy. The
financial details are being worked out and will be announced shortly.
b) THERMAL POWER PROJECT:
As a major growth initiative under infrastructure Segment Company plans to
set-up 135x3-405 MWS coal based Thermal Power Plant in two phases at a
project outlay tentatively of Rs.2008.80 Crores. The project is proposed to
be set-up by M/s CTIL infrastructure Pvt. Ltd, a 100% subsidiary of the
Company and project location is proposed at JIRAL Village, Bhuban Block,
Kamakshanagar. Tahsil, Dhenkanal District, Orissa. Combined application
submitted to high powered committee of Government of Orissa for single
window clearance of the project is already in advance stage of clearance.
Single window clearance for the project is awaited.
3. CHANGE OF NAME A support initiative.
As part of growth strategy and in the wake of several growth initiatives,
Board of Directors feel it is imperative to change the name of the company
from M/s Comp-u-Learn Tech India Ltd to M/s CTIL Ltd so as to give true
picture of what the company is today and what would it be tomorrow.
Necessary steps in this regard have already been initiated.
4. GLOBAL PRESENCE:
The Company has already made its strong presence in the Industry in India &
US. It is an initiative to shape the Company as global player. As part of
this, the company acquired 100% stake in M/s ASTUS Technologies INC, USA,
51% stake In Dubai based Company and registered 100% subsidiary M/s CTIL
Hong Kong Ltd in Hong Kong for the purpose of increasing its foot prints in
the Globe. Company further envisages to do so more in UK and Europe in
Journey so far we made is very small and what we need to travel is a lot in
our mission. Hence I seek from all of you more support, co-ordination the
years to come to attain our goals. It is indeed honour and pride for all of
us to be with the company at this defining moment and personally for me, it
is honour and privilege to be at the helm of affairs.