ANNUAL REPORT 1999-2000
MAARS SOFTWARE INTERNATIONAL LIMITED
It has been a year of immense satisfaction, hence it gives me great
pleasure to communicate to all of you through this Annual report.
The first year of the New Millenium has been extremely gratifying as your
company has achieved an all round rate of growth and we look forward to the
challenges ahead with cautious optimism. We had set ourselves a yardstick
of measuring our success through the value addition and profitability that
we can provide to our shareholders. And when we look back, we note that our
Profit After Tax for the year was Rs. 16.08 crores, while the Annual
Turnover was Rs. 88.48 crores. A rewarding year for all of us.
The credit undoubtedly goes to every member of the MAAR5 team, without
whose enthusiasm, sweat, drive and application, your company could not have
hoped to achieve this growth. On your behalf, I extend my full compliments
to our team. This credit is also shared by our clientele who have extended
their full support in bigger numbers, this time. This credit is also shared
by you, the shareholders who have been growing in numbers, indicating the
trust you have reposed in us. We feel encouraged.
We have grown sustainably and shall endeavour to better our performance in
the coming year. With that perspective in mind, we are going to focus our
attention on three primary issues, viz. Product Quality, Manpower
development and a strategic business direction.
We expect e-business to provide the thrust required to drive sales. A
successful e-business model requires a seamless integration of the front
end with the back end of enterprise transaction systems. We expect a rapid
growth rate in integrated solutions using e-business, which shall provide
the right impetus to boost our ERP sales. We are getting set to exploit
this e-business driven ERP opportunity through the rapid deployment of web-
enabled online transaction processing systems.
Last year, we have competed in the global market place with the market
leaders and have made significant strides in winning customer satisfaction.
This year, we intend to focus on widening our Marketing net through a two-
pronged approach. 1. By recruiting an training a world class sales force
who would be well qualified and experienced to expand our net of
international business. 2. By collaborating and exploring possibilities of
Joint Ventures with partners who can complement our efforts. With a strong
technological base, your company is well poised to efficiently execute the
orders obtained through increased marketing efforts.
Historically, for your company, U.S. has been the major market with a
recent significant growth in the Middle East. Though we intend to tap the
existing latent potential in the U.S. and European markets through our
Marketing thrust, we are looking forward to explore new markets, like The
Far East. You can expect your company to find new businesses in new
territories, this year.
You are all aware that your company has been involved in setting up a State
of the Art Technology Park at Padur in the outskirts of Chennai city. I
have great pleasure in announcing to you that the Software Technology Park
is fully and functionally ready to execute new Projects, swiftly and
Quality is the key to any development process. I am happy to inform you
that your company is in the process of acquiring the global stamp of
quality in the form of SEI-CMM assessment for all the developmental
activities of the business. This would serve as a right reference for the
efforts that your company would put forth to enhance its business
activities. We are committed to make MAARS a world class software company.
We would continue to benchmark the best practices to achieve higher
productivity and our thrust shall continue to remain on technology adoption
We at MAARS look forward to a challenging and rewarding year ahead.
Chairman & Managing Director