The Digitalization and the Connectivity have become integral part of automotiveindustry. The Digital Market Place embraced by the automotive OEMs presents a uniqueopportunity for our company. Our vast experience as a telematics hardware supplier alongwith our expertise in the cloud based software applications positions us to play asignificant role in the automotive digitalized connectivity space.
In the Connected Vehicles market place our telematics hardware offers a wide varietyof features to make the vehicle smarter. We facilitate services like vehicle diagnosticsproactive maintenance driver behavior accident notification vehicle tracking andinternet connectivity just to name a few.
As presented in Roland Berger Connected Vehicles 2017 report the telematics space isstill at a nascent stage in India. The key characteristics of the Indian market is a)Dominance of Commercial Vehicle sector b) Use of basic services.
The CV telematics market is expected to grow at 25% per annum mainly led byafter-market segment and entry level solutions.
The revenue in the "Connected Car" market in India is expected to grow fromabout 650 Million USD to about 2.5 Billion in 2020. The Safety & Driving assistancerevenues are expected to grow about 39% CAGR while Diagnostics & Maintenance isexpected to grow at 85% CAGR.
In the CV telematics market APAC is the second largest market driven by countries suchas India China and Japan. By 2022 APAC is expected to be the leading contributor toglobal commercial vehicles telematics market.
With our industry knowledge and the innovative solutions developed by our exceptionallytalented workforce Danlaw enables our customers to achieve a greater value chaincoverage.
We have reached an exciting stage for our company and we are poised to play asignificant role in the Connected Vehicle market place.
Summary of financial results:
Total revenue 1257 lacs as compared to 1242 lacs of previous year
Profit before tax of 159 lacs vs.278 lacs in previous year
Danlaw Technologies Inc. our US WOS:
Total revenues of $601 thousand US Dollars
Income from Operations $57 thousand USD
In conclusion I would like to place on record the management's appreciation of thecontributions made by our highly skilled and talented employees at all levels. Wecertainly thank our customers vendors and our bankers for their support during the year.
I thank the Board of Directors for their continued guidance.
We take this opportunity to thank all the shareholders of the company for their trustin us.
Raju S. Dandu
Chairman & Managing Director