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Micro Technologies (India) Ltd.

BSE: 532494 Sector: IT
NSE: MICROTECH ISIN Code: INE358B01012
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Micro Technologies (India) Ltd. (MICROTECH) - Chairman Speech

Company chairman speech

Chairman

“Victory belongs to the most persevering.”

- Napoleon Bonaparte

The past year and a half have been a quite challenging time for the global economy.Virtually every company in every industry was affected in one way or another and somehave been drastically altered. Obviously Micro Technologies was also not immune to theadverse effects of the global economic downturn and we too bore the brunt albeit quitestoically. As our fundamentals are always strong we were able to withstand the pullspressures and predicaments of this horrendous fiscal tsunami.

Despite all the inclement conditions your company had made several deep inroads andimpressive achievements. Let me share some of the major achievements of your company withyou:

Micro Technologies won prestigious contracts for 'Aadhhar' and 'Safe City' Projectsgot empanelled with Navaratna PSUs & Public Sector Banks for providing securitysolutions received ISO 14001:2004 Certification and Capability Maturity ModelIntegration (CMMIR) recognition from the Software Engineering Institute (SEI) of theprestigious Carnegie Mellon University in Pittsburgh Pennsylvania USA. This recognitionis a tribute to Micro Tech's all-round best practices.

Our R & D Unit got the recognition from the Department of Scientific &Industrial Research (DSIR) Ministry of Science & Technology and Government of India.It is among the very few R&D Units in the country to get such recognition.

We have recently formed a joint venture with the Aakash Universal Limited the flagshipcompany of the Aakash Group to promote our 'Micro ATM Black Box' ( 'Micro ABB') in thebanking sector through our subsidiary Micro Secure Solutions Limited (MSSL)

I have been impressed with the breadth and quality of our product portfolio and thecommitment and talent of our people. These are significant competitive advantages thatposition us to lead the industry and win in the marketplace.

Product launches

To every problem that confronts our society we came out with an effective solution.Micro Technologies had launched four major security products namely 'Micro Eye' 'MicroRise Up' 'Micro Sales Force Management System' and 'Micro Portable Black Box' to meet thegrowing demands in these respective segments.

Micro Technologies has also received some prestigious awards and made significantachievements. That is why despite the current turbulent economic climate I am optimisticabout Micro Technologies' prospects to lead the era in the security domain. I seeunderneath the surface turmoil this moment presents a rich and transformationalopportunity to all of us.

Acknowledgments

I would like to express my sincere thanks to our Founder Chairman Dr. P Sekhar[Currently Chairman Emeritus] for his outstanding helmsman ship during his time with theCompany.

I would like to extend my heartfelt thanks to my Board of Directors and the ManagingCommittee for their continued wise stewardship and strategic guidance. I thank theManagement for its steadfast commitment.

I want to thank all our employees for their hard work and dedication throughout fiscal2012-13 which enabled us to navigate a tough and challenging environment. And my immensethanks to our customers partners and all our stakeholders for their continued cooperationand support.

And finally please remember that tough times never last but tough people do. MicroTechnologies is made of not only talented people but also tough people. And together withsuch people we will achieve great success in the coming year.

Lastly as late Dr. Martin Luther King Jr said that we must accept finitedisappointment but never lose infinite hope. The greater the difficulty the more gloryin surmounting it. Skillful pilots gain their reputation from storms and tempests. We toowill outlast the current storm and emerge triumphantly soon.

Best Regards

Aditya Sekhar

Chairman & Managing Director