Dear MRSS Family
MRSS has become another year old. It seems just like yesterday - we were only aSTARTUP' - We are still a STARTUP' however one that has that has completed awonderful journey of 5 years. The soul of MRSS is that of a STARTUP' constantlyaiming to innovate to streamline process to inculcate fiduciary discipline to disruptthe industry to create new benchmarks to pioneer several initiatives to move to thenext level and to expand the stakeholder base viz. Partners Clients Colleagues and ofcourse Shareholders like you.
We have also completed 2 years of being listed on the Bombay Stock Exchange and arereally grateful that we have always had amazing shareholders who have traversed thejourney with us and always been around with guidance inputs and even lots of businesslead generation. No amount of gratitude is sufficient to appreciate our fortunes withregards to this. Of course a special mention to the BSE SME team members as well forconstantly motivating and supporting us. In fact last year we added another 1st- we became the 1st company ever on the SME Platform to conclude a FPO(Follow-On
Public Offer). This now has become a model that other SME Companies are looking tofollow.
Your Company has been delivering consistent returns over the years and is firmly on thegrowth path. Your company's revenue grew by 103% to ' 229.30 million and profit after taxjumped to 143 % to ' 46.30 million for the financial year ended on 31st march21017 as compared to previous year.
A year ago at the previous AGM we had announced that we will pursue acquisitions toachieve scale and that we will expand horizons to ASIA. We have been successful inconcluding the 1st of what would be a series of acquisitions . This does not inany way mean that the organic growth is affected but this takes us closer to our Vision ofbeing India's 1st Market Research company to become the largest Independent MRagency in Asia. MRSS Asia was the promise we made MRSS Asia has been delivered. Theacquired company has been working with the Changi Airport for several years just like wehave been working with GMR - Delhi Airport in India.
This brings me to sharing an important aspect with you - Countries around the world areon a $1 trillion airport investment spree. About half of that spending will be onupgrading or building new airports in Asia. We are consciously looking at this verticaland plan to build a specialized Digital Insights practice for the Airport Vertical.
The Social Marketing Research Practice that we added at the end of the second lastquarter in FY 16-17 has been doing reasonably well considering that usually the businessdevelopment cycles however we have added several accounts viz. Aga Khan FoundationAmerican India Foundation BBC Media Population Council Save the Children. There havealso been instances of repeat business as well in this vertical as well.
We continue to invest smartly in people and are making sure that they are all stars andtheir performance is reviewed periodically. We have taken the help of industry experts andhave created customized Metrics for performance management of our team. Salary AllocationFactor (SAF) Revenue Generation Factor (RGF) Profit Contribution Factor (PCF) and NetCash/Collection Factor (NCF). We are also implementing Institutional learning andInstitutional Memory that makes the organization less individual dependent and moreprocess oriented.
Our open source model of alliances/partnerships to deliver technology enabled solutionscontinues to succeed and flourish. We have announced new partnerships and will continue todo and are thankful to our partners for their constant training support. The clients arethe key benefactor from this and in the end we also benefit when are they delighted andcontinue to work with MRSS.
Thank you so much for joining us in our Journey and creating the 1st INDIANcompany in the MR KNOWLEDGE INDUSTRY to get into the BIG LEAGUE.
We look forward to your constant support and patience!!