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BSE: N.A. Sector: N.A.
NSE: N.A. ISIN Code: N.A.
BSE 05:30 | 01 Jan
NSE 05:30 | 01 Jan

. () - Chairman Speech

Company chairman speech

ANNUAL REPORT 1999-2000 MAARS SOFTWARE INTERNATIONAL LIMITED CHAIRMAN'S SPEECH Dear Shareholders: 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 efficiently. 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 and innovation. We at MAARS look forward to a challenging and rewarding year ahead. T. VARADHARAJAN Chairman & Managing Director