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Helios & Matheson Information Technology Ltd.

BSE: 532347 Sector: IT
NSE: HELIOSMATH ISIN Code: INE674B01012
BSE LIVE 15:22 | 22 Feb Stock Is Not Traded.
NSE 15:41 | 24 Sep Stock Is Not Traded.
OPEN 8.97
PREVIOUS CLOSE 9.44
VOLUME 5826
52-Week high 8.97
52-Week low 0.00
P/E 0.43
Mkt Cap.(Rs cr) 24
Buy Price 0.00
Buy Qty 0.00
Sell Price 8.97
Sell Qty 62658.00
OPEN 8.97
CLOSE 9.44
VOLUME 5826
52-Week high 8.97
52-Week low 0.00
P/E 0.43
Mkt Cap.(Rs cr) 24
Buy Price 0.00
Buy Qty 0.00
Sell Price 8.97
Sell Qty 62658.00

Helios & Matheson Information Technology Ltd. (HELIOSMATH) - Chairman Speech

Company chairman speech

HELIOS AND MATHESON INFORMATION TECHNOLOGY LIMITED ANNUAL REPORT 2005-2006 CHAIRMAN'S REPORT Ladies and gentlemen, A hearty welcome to all of you to the annual general meeting of Helios & Matheson Information Technology Ltd., in its 16th year. This is a proud occasion for all of us. I am sure all of you are happy with the unbroken record of dividend paid/proposed by the board and the two successive 1:1 bonus issues. Your company has fared well in the financial year under review. Under Indian GAAP, total revenue grew by 82% to Rs.1207.6 million (664.8 m) while earnings before interest, depreciation and taxes witnessed an increase to Rs.406.2 million (239.6 m) - an increase of 70% over fiscal 2005. Consolidated revenue and earnings were Rs.2213.4 million (1223.1 m) and Rs.569.4 million (331.6 m) respectively. Indian companies are delivering the latest in information technology to markets across USA, Europe and Apac, helping to improve not only lives of individuals but the progress of nations. Some think competition. We think partnership. Our long term strategic partnership with clients to provide end-to-end IT solutions helps our clients to achieve enhanced customer satisfaction through adoption of innovative technology, improved process efficiency and world-class service to customers. In our business, software unifies people, processes and technology to increase efficiency and optimization - it gives clients visibility and dynamic control to manage risk, manage costs, improve service and align IT investments. Best practices are followed to ensure information security, safety and privacy. Our strategy for future has several components. but I would like to mention here two of them, which, in my view, are most significant. 1) Differentiation - focus on healthcare vertical, and 2) Cost leadership - for competitive advantage. Differentiation - focus on healthcare vertical We are building on our domain expertise - extensive industry-specific knowledge and experience - to enable us have the differentiator and open new avenues for growth. There is an explosive growth in private healthcare facilities; advanced technology, expertise and quality of service on offer. Health information technology (HIT) there is an urgent need for building HIT infrastructure for scale and speed in delivery of service. It means, healthcare should be supported by systems (HIT) that are carefully and consciously designed to produce care that is safe, effective, patient- centered, timely, efficient, and equitable. HIT has enormous potential to improve the quality of healthcare with regard to all six of the aims set forth. Like IT, healthcare is a vast and yet unexplored subject. evolving legislations like MMA(1) and HIPAA(2) add to the tremendous scope for growth in our business. Cost leadership: 15 years of relentless focus on bottom line and processes laid the foundation for our cost leadership strategy. It has given us the ability to manage large client relationships to gain economies of scale. We aim to get our clients' functions automated when they want, on time, at the lowest possible cost, and make sure they have a good time doing it. 15 years - key milestones: * Went public in 1999, issue got over-subscribed. got listed with MSE, HSE & ASE. * Listed in BSE and NSE in 2000 and 2005 respectively * Uninterrupted record of profits and dividend distribution since inception (1991) * Company made a 1:2 bonus share issue in 1999 * Company made two 1:1 bonus share issues in 2004 and 2005 doubling the dividend payout year on year * Acquired Laxmigroup Inc., USA in 2001 * Acquired Systemlogic Solutions Ltd., Bangalore, India in 2001 * Acquired healthcare IT focused companies, Maruthi Consulting Inc., USA and Jayamaruthi Software Systems Ltd., Chennai, India in 2004 * Strengthened healthcare IT presence further by acquiring controlling stake in tact inc., USA (Nasdaq capital market: tacx) and tact global, Bangalore, India in 2006 * 37% of our income from healthcare IT - it is even more exciting to see tact global leading us into a niche expertise in life sciences domain, offering image interpretation and data analysis, clinical trials and pharmaceutical research. * Placement of foreign currency convertible bonds (fccb) for USD 25 mn(3); the formalities and overseas listing of the bonds completed on July 7, 2006 '... The board decided in favor of the placement of FCCB in view of Helios & Matheson's strong, predictable revenue streams and positive outlook for its business. the resounding success of the placement is an endorsement of strong investor interest and confidence in Helios & Matheson....' G.K. Muralikrishna, CEO & Managing Director Note: (1) : Medicare modernization act (2) : Health insurance portability and accountability act (3) : Including green-shoe option of USD 5 mn 15 years - what they say: * Featured among the top 30 fastest growing IT companies by the Nasscom 2005 survey * Ranked among India's most valuable companies by business today (November 2005) * Business standard listed Helios & Matheson among 'BS 1000: India's corporate giants' by net sales * Ranked 29 in the data quest survey (August 2005) * Ranked 340 in the ET 500 survey (February 2006) As you can see, we've been busy these past 15 years. and we promise that the next 15 will be just as fun fitted and exciting as the last. We are proud of our accomplishments, and it just goes to show that time really does fly when you're having fun! We thank God for the seemingly endless opportunities. In this 16th year of our operation, I, along with your board, pledge our fullest endeavors in shaping a bright future for your company. towards this end, I am sure we can rely on your unstinted support as always. Chennai V. Ramachandiran 28th Sep., 2006 Chairperson Source: 14th AGM Dated : 28th September, 2006