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Husys Consulting Ltd.

BSE: 532590 Sector: Others
NSE: HUSYS ISIN Code: INE336T01010
BSE 05:30 | 01 Jan Husys Consulting Ltd
NSE 05:30 | 01 Jan Husys Consulting Ltd

Husys Consulting Ltd. (HUSYS) - Chairman Speech

Company chairman speech

Dear Shareholders

It gives me great pleasure to welcome you to the 12th Annual General Meeting of yourCompany and share with you the progress that your Company has made amidst a great changein the National and Global economy over last one year.

While the economic climate has impacted for a short-term but it is looking positive inbringing in best for our future endeavors. During the year we have ensured that we have asteady growth and strong foot on the ground to sustain our growth into next year.

Several initiatives were undertaken to streamline the operations and make it costeffective.

We have achieved some success in this direction as the profits prior to tax and priorto the prior period adjustment grew by an annualized 161% from Rs. 55.55 lacs to Rs.144.79 lacs and achieved some success in this direction as result the Turnover grew by anannualized 17% from Rs. 1241.35 lacs to Rs. 1454.80 lacs.

The Impact of Demonetization: A Great Opportunity Ahead

While Demonetization for a short-term created discomfort in the monetary flow forbusinesses it has opened one very important door for your Company. Our Cloud technologyfocus has strengthened further with many people using Digital payments and use of smartphones proved to be a boon for our Cloud Mobile HR Platform to provide services toclients. We only see a directlyproportionalimpactofutilizationofdigitization in India toour growth of our Technology used by many employees in the future. Its shown in the impactby the number of companies approached and signed up for our services on technology overlast few months.

Global Partnerships : Strengthening India Story

Our efforts in building a global business relationships are yielding good results. Wehave currently good number of partnerships with various international companies to bringglobal business. I am happy to share that the relationships were grown to help enhance ourbusiness and also distribute the revenue from various sources by mitigating concentrationof business risk.

Franchising - A business focused partnership :

As you are aware that we have a great potential for Small & Medium Businessesadapting to the HR Function in India. With more than 5.5 Crores Startups & MSMEorganizations it's a large market to be tapped for the growth of our business intofuture. We made significant progress in last year in building a model to capture the largemarket in India. Our efforts are now converting into reality with beginning last quarterof last year we have hired our first Franchisee partner in Gurgaon who have startedproducing revenues for us. By the time this report reaches you we have signed a formalagreement with 3 more franchisees to start from June 2017. We are expecting to add atleast 10 franchisees in this financial year building a strong business focus &Pipeline of our business. This will keep our costs lower in building business and gain theprofitability for creating share-holders value.

Quality as a Way of Life :

To keep up with the focus of growth it is imperative to build sustainable businessprocesses. This would mitigate the risk of Individual personal in the business and givesmore room for process orientation. various steps to ensure that our processes are maturedwell within the organization and eventually lead to appropriate certification in future.

Way Ahead :

We are entering into the next business cycle with more confidence utilizing that wehave created in last 2 quarters. It is evident from our current business flow and is anindicationoftheefforts being paid-off for a stronger year ahead. Our new signups with ourinternational partners created a great de-risk for business concentration and alsospreading the opportunity. We would be building stringent processes through a strongcommitment to Quality and maturity in our teams to seamlessly deliver results for yourCompany.

Concluding Note

I am confident that Husys with its excellent clients committed associates and strongand stable management team will continue to deliver significant value to all itsstakeholders in the years to come and will achieve every milestone in the journey tosuccess.

I would like to thank all our Shareholders Investors Employees Clients Principalsand all Other Stakeholders who have always stood by us. With our focused businessstrategy dynamic management & Partner team and a pool of professional talent we arepoised for growth.

I look forward to your continued support in the coming years to take this Company tothe next level of growth and a Leader in HR Business in India.

Yours Sincerely

Gundlapally Ramalinga Reddy
Chairman & Managing Director