Reviewing FY2017 we are at an important phase of your Companys evolution and itis an exciting time in the journey at Hinduja Global Solutions. About 16 years ago ourGroup Chairman S.R Hinduja conceptualized the idea of this Company and gave us theopportunity and the guidance to build it. It has been just over a decade since ParthaDeSarkar took on his role as the leader of this growing organization and has provenhimself to be an able leader.
Your Company continues to receive numerous accolades from industry analysts thatdemonstrate the success of its continued focus on business excellence. While we appreciatesuch recognition we must also contextualize such success with the fact that HGS facedsome significant challenges in FY2016. Your Company has not only achieved an impressiveturnaround from the earnings setback of FY2016 but it has set a new record for its EPS at?86.58/share a strong 77% increase for the year.
On behalf of the Board of Directors I wish to place on record a recognition and anappreciation of the individual and collective efforts of Team HGS for dedicating theirabilities to HGS enabling it to successfully sail through adverse conditions andcontributing to its resilience.
The journey ahead like all adventures comes with its own set of challenges andrewards. The opportunity before us is to not limit ourselves with what has been done oreven what HGS expects to do; but now more so than ever before to reach beyond into whatthe future allows us to do. The capacity that HGS has created for itself today providesus with the prospects to recognize the exponential shifts taking place in the marketplace with a realistic implementation capability using path-breaking technologiesinnovation in processes and reinvention of how value is created and shared. I trulybelieve that the limits are only within our own imagination.
Team HGS is at this point in the midst of delivering on the future plan focused onmeeting the performance metrics that directly impact achievement of their financial goalsto hopefully set new records. What I believe to be even more exciting is that HGS hascreated the opportunity to transform its clients to become more competitive with its ROC(Right Source One HGS and Cross Sell) Strategy. This ability is enhanced by theInnovation Network that HGS has created internally to foster the exchange of ideas andcapabilities globally Into what the future will look like for HGS and for its clients.These ideas have been allowed to mushroom across the enterprise with annual commitments tomeaningful investments with accountability for results in the true spirit ofintra-preneurship. Some of initiatives that HGS has invested in are: (1) Automation thatimproves agent productivity (2) Digital components for multi-channel delivery capabilityand (3) Analytics to convert information into meaningful decision making tools. I believethat these efforts will continue to bear fruit for HGS and all of its constituents.
Your Company continues to have a global business portfolio strategy that emphasizesdiversification in terms of clients geographies of origination and delivery as well asmitigation of the related currency risk exposures. A consistently higher proportion ofyour Companys business portfolio continues to be driven by growth throughtransformational solutions for its larger and willing clients.
Your Company through its Board and Team HGS has another set of major accomplishmentsthat deserve recognition. These are your Companys CSR and community initiatives.With an aim to fulfill the words of our founder WORK TO GIVE and in thevision of our Group Chairman S.R Hinduja your Company has set a goal to touch and improvethe lives of people in cities where we operate around the world with the involvement of asmany members of Team HGS as practically possible. These efforts have proven to begratifying and meaningfully impactful to both the recipients and the providers. Forexample in India our programs in education healthcare and skill development arebenefitting over 150 thousand people directly.
The backing and the wisdom of the Board of Directors who have provided Team HGS witheffective oversight and critical inputs in making strategic and tactical decisions hasbeen a major contributor to the teams success. I would firstly like to express myspecial gratitude to our Independent Directors as well as Shanu S. R Hinduja ourCo-Chairperson and Vinoo S. Hinduja. On behalf of the Board I wish to especially expressour sincere appreciation for the indispensable guidance that Vinoo S. Hinduja has providedthrough the years as a Director with her deep insights in the field of healthcare and asour subject matter expert on the Board for our single largest vertical. Lastly but in noway the least I would like to also place on record the constructive and positivecontributions made in the last year by our newly appointed directors.
As a member of the Hinduja Group HGS has the capacity to compete with largercompetitors by leveraging the Groups resources relationships and know-how. HGS isfortunate to have the invaluable guidance and vision of the Hinduja Group Chairman S. RHinduja your Chairman-Emeritus A. R Hinduja and the other members of the Hinduja Groupand the Family and whose unequivocal support has allowed your Company to prosper.
The remarkable turnaround this year at HGS could not have been possible without theoutstanding leadership of the CEO and his management team. This success involved the hardwork and dedication of each and every one of the over 44000 team members in 68 locationsacross seven countries serving nearly 800 clients globally spread across Business ProcessManagement Digital Solutions and Payroll Processing. On behalf of your Company I wouldlike to express my thanks to all of them.
I look forward to bringing another message of your Companys continued strongperformance in the coming years and wish to express my special appreciation to all ourshareholders lenders clients and suppliers for placing their trust in us.
Ramkrishan P. Hinduja
August 24 2017