It gives me great pleasure to share my thoughts on the performance of the fiscal year2016 of our Company. It was a good year to grow strategically and strengthen thefoundation for the future.
We ended FY2016 with the consolidated revenue of Rs 771.8 million as compared to Rs 669million in FY2015 reflecting an increase of 15.4% on Y-o-Y basis driven by broad basedgrowth across business segments. We posted an EBITDA of Rs 90.3 million (12.2% ofoperating revenue) in FY2016 as compared to Rs 55.1 million (8.6% of operating revenue) inthe corresponding period of the previous year representing an increase of 63.8% led bystrong growth in our IP-led Innovation Business (Geospatial and Mapping Analytics) whichforms 69% of our operating revenue. The Net profit stood at Rs 23.3 million as against Rs51.5 million last year. On a standalone basis our revenue stood at Rs 480 million inFY2016 as compared to Rs 440 million in FY2015. The Net profit was Rs 27 million in FY2016as against Rs 82 million in FY2015. Our Net profit witnessed a drop of 55% on consolidatedbasis and down by 67% on standalone basis during the year mainly due to absence of theexceptional income item that we had last year.
There was good addition to the client portfolio in the year and we added some new namesto our Innovation business and some in the government space. This is apart from theexisting clients who have been with us for periods ranging from 6 - 15 years. Total activeclients as of 31st March 2016 was 51 (LTM). We have created a good client base that willallow us to have sustainable growth with deeper focus. Looking at some of the operatingmatrices revenue from IP-led Innovation offerings witnessed strong growth momentum whichcontributed 69% of operating revenue during the year while 31% came from the ApplicationMaintenance and Services offerings.
In terms of geography the United States (US) and the North America region continues tobe our key market and large part of our revenue is generated from this region. The USrepresents 91% of the total revenue of which 80% constitutes recurring revenue business.Our India business has grown significantly and contributed 8% of operating revenue inFY2016. The India diversification of revenues and the improving US business conditionswill increase our overall growth.
As you all know that we are a Next Generation Geospatial and Mapping Analytics Companyand our Geospatial Centre of excellence continues to churn out cutting edge work for ourclients in India and abroad. During the year we implemented 151 projects. The stage is nowset to reap the benefits of our investments and we are confident of revenue momentum goingforward driven by our GeoShield and GeoCivic products both in US and India.
Our proprietary location-based real-time crime analytics and public safety productGeoShield has received considerable traction last year and various police departments inUnited States found it effective in reducing crime rate. On other side GeoCivic has shownpromise to become a standard for smart governance both in United States and in India.
Our CyberSupport Platform continues to serve our SAP Infrastructure and ApplicationMaintenance client base. We have developed substantial focus and depth on next generationSAP platforms like HANA and Analytics. Many of our clients are add location intelligenceto their SAP Enterprise work processes.
I am pleased to inform you that your Directors have recommended a dividend of Rs 1/-(one) per share (10% of face value) for the tenth year in a row. We continue to enjoy theconfidence of our customers resulting in opportunities that are adjacent in nature.
CyberTech will grow focus and excel in next-generation geospatial mapping and locationanalytics solutions and Application Maintenance Services. I am excited about our PublicSafety and GeoSpatial Platform development that leverages our expertise as Analyticsexpert for mapping. For the next year I expect our offshore revenues to trend upwardlarger number of GeoShield and GeoCivic wins and US will win more recurring revenueprojects.
I am grateful to our Executive Director Mr. Ramasubramanian Sankaran for his 360 degreeleadership passion and execution. I thank Mr. Steve Jeske our partner and all hisefforts as we focus and excel in map analytics area. I also thank our Sales Delivery andFinancial Leaders of the Company for their unstinted support to my efforts to enhanceshareholder value. Our employees are biggest assets and I wish to record my sincereappreciation to their dedicated efforts.
The Company adheres to high level of transparency and corporate governance. We have aneminent Board of Directors such as Mr. A. V. Rajwade Mr. Sudhir Joshi Dr. N. L. SardaDr. Shreepad Karmalkar Mr. M. P. Bharucha and Ms. Amogha Tadimety. I am grateful fortheir association with CyberTech and me. I would like to thank our US Boardrepresentatives for their involvement counsel and support. I thank M/s. Vispi Patel andAssociates Chartered Accountants and M/s. Bansi S Mehta & Co. Chartered Accountantsfor their valuable help. I thank Mr. M. P. Bharucha Esq. of Bharucha and Partners for hisfriendship help and counsel. I thank my Special Advisor Shri. B. V. Goud for his help toour Company.
On behalf of the entire organization I thank you my fellow shareholders for yourcontinued support. With regards
August 18 2016