PARLE SOFTWARE LIMITED
ANNUAL REPORT 2007-2008
It gives me great pleasure to share with you the endeavour your Company has
made vis-a-vis the strategy it has adopted and also share with you the
strategic path ahead in the light of emerging global trends.
Your Company has, over the years, positioned itself as a 'Solutions'
Company rather than a pure 'Services' or a pure 'Products' Company, thereby
achieving a study and balanced growth. This is reflected in the inorganic
growth your Company has achieved over the years in revenues and margins
across geographies, offerings and customers after vesting of the software
export division into it, pursuant to the sanction of the scheme of
Arrangement by the Bombay High Court in the month of Sept 2003.
The success of any strategy is best reflected by the objective results
achieved and endorsements by credible third parties.
While it moves ahead, your Company also ensures that it follows the best
governance practices and remains financially strong. It therefore,
constantly benchmarks itself against best practices.
Any strategy would need to take into account the economic environment in
which the enterprise operates. I would therefore like to share with you
some aspects of the global economic scenario vis-a-vis the Company's
strategizes to operate in this environment.
At a time when the industry is passing through tough times with mounting
currency pressures, and overall global slow down, we at. Parle Software
Ltd. are committed more than ever to deliver significant value to our
customers and to our stakeholders. Our belief is that the recent economic
events are an opportunity for us to realign our business models and offer
these differentiated solutions to our customers. There is an increased
interest across our customer base for deriving the benefits of the global
During the year your company has taken the strategic management action for
carrying out the software development activities exclusively through its
associates Samay Techno Corp and Universal Technologies from the next
financial year 2008-09 onwards.
This strategic management action is proposed to be taken by your company
with the objective of wealth maximization and to mitigate the business
risks imposed by the uncertain economic conditions in the country and
current global turmoil situation. We believe the steps initiated should
bring considerable value to our shareholders, clients and employees in the
Your Company has, through an organic and acquisitive approach has plans to
develop a range of offerings in the 'ERP Solutions' space through its
associates , which will meet the requirements of both the emerging Asian
markets and the developed markets. It is, therefore, well positioned to
take advantage of the emerging trends in the global economy and capitalize
on the same. I am, therefore, confident that having identified the right
markets and the right offerings, and with a strong management team within
the associates, your Company will endeavour to sustain the present growth
in the future years.
As we usher in a new year, I want to thank all our employees, consultants
and their families, bankers for their unstinting support and dedication.
They are truly the cornerstones of all our successes. I also take this
opportunity to thank our customers who have entrusted us with their
critical systems and all our share holders for your support and confidence
in our company. My team and I assure you we are committed to do everything
in our might to justify the faith reposed in us by all of you.
While thanking you for all the support in the past, -1 look forward to your
continued support to the Company in its endeavor to progress.
Non Executive Chairman
Date : 24th December, 2008