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Palred Technologies Ltd.

BSE: 532521 Sector: IT
NSE: PALREDTEC ISIN Code: INE218G01033
BSE LIVE 15:38 | 17 Aug 89.00 -2.75
(-3.00%)
OPEN

91.75

HIGH

91.75

LOW

87.40

NSE 15:29 | 17 Aug 87.60 -2.00
(-2.23%)
OPEN

89.15

HIGH

89.50

LOW

87.15

OPEN 91.75
PREVIOUS CLOSE 91.75
VOLUME 974
52-Week high 181.80
52-Week low 61.20
P/E
Mkt Cap.(Rs cr) 87
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 91.75
CLOSE 91.75
VOLUME 974
52-Week high 181.80
52-Week low 61.20
P/E
Mkt Cap.(Rs cr) 87
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Palred Technologies Ltd. (PALREDTEC) - Chairman Speech

Company chairman speech

Dear Shareholders

I take pleasure in presenting the Seventeenth Annual Report of your Company. I use thisopportunity to present the financial performance of the Company in the year and what wesee for the future. After the sale of business in October 2013 the Company has investedinto Palred Online Technologies Private Limited which owns and operates www.LatestOne.comand Palred Technology Services Private Limited a Software Solutions Company focused one-commerce solutions.

In the first full year of Operations Palred Online Technologies Private Limited(LatestOne.com) earned a Gross Revenue of 60 Cr and Net Revenue of almost 40 Cr.LatestOne.com launched in October 2014 is India’s only e-tailer specialized in techand mobile accessories such as Bluetooth devices mobile covers tablet accessoriescables power banks Android TVs headsets smart watches CCTV’s etc. It stocks over10000 different products in its inventory and operates through its own fulfillmentcenters in Delhi and Mumbai. It attracts more than 100000 visitors per day and hasalready served more than 1.2 million unique customers.

Our focus is now on making LatestOne.com successful. We have invested only INR 30crores in the venture so far. In comparison to most of the other vertical focused etailersin India we have achieved 5X – 10X output for every Rupee invested. Due to severalbad investments in the Industry efficient companies such as ours are getting stereotyped.We are struggling to position the company correctly in such a di_cult environment andmaximum value for our shareholders. We will continue the challenging task of increasingthe financial efficiency while increasing the revenue.

As always we will update the stake holders investors employees customers vendorsand also keep them posted about the developments from time to time. Your Company hasalways been actively contributing to social causes as a part of its Corporate SocialResponsibility.

On behalf of Management and sta_ I would like to thank every shareholder of PalredTechnologies Limited for your continued commitment support and confidence. We lookforward to your continued support and encouragement in future as well.

Thank You

Palem Srikanth Reddy

Chairman and Managing Director