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Quick Heal Technologies Ltd.

BSE: 539678 Sector: IT
NSE: QUICKHEAL ISIN Code: INE306L01010
BSE LIVE 15:55 | 14 Dec 249.50 -1.65
(-0.66%)
OPEN

253.00

HIGH

254.30

LOW

245.25

NSE 15:50 | 14 Dec 250.15 -0.50
(-0.20%)
OPEN

252.55

HIGH

253.90

LOW

245.00

OPEN 253.00
PREVIOUS CLOSE 251.15
VOLUME 90948
52-Week high 286.10
52-Week low 172.75
P/E 31.95
Mkt Cap.(Rs cr) 1,752
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 253.00
CLOSE 251.15
VOLUME 90948
52-Week high 286.10
52-Week low 172.75
P/E 31.95
Mkt Cap.(Rs cr) 1,752
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Quick Heal Technologies Ltd. (QUICKHEAL) - Chairman Speech

Company chairman speech

On behalf of our Board of Directors it is my pleasure to share ourAnnual Report for FY2016-17 with you. We are taking affirmative steps to deliversustainable financial performance on a consistent basis. As our motto remained to createthe "Right Solution Right Product" FY2017 has been a year of consolidation andone where we established our presence across multiple territories. Today we callourselves a "Security Company" instead of an "Anti-Virus Company". Wecontinue to grow our existing businesses while diversifying into new product linesaddressing all opportunities to protect customers from any threat or virus while workingin tandem to increase value for our shareholders.

We have witnessed a slight dip in revenue as well as total licensessold. While focusing on increasing our retail market share our Enterprise and Governmentsegments also witnessed a rising customer demand and acceptance. We have achieved fastergrowth in the Enterprise and Government segments while ensuring a good start for ourproducts in the mobile segment. We also remain focused on R&D and will continue todevelop new products and introduce enhanced features.

Preserving Leadership Adding Capabilities Equipped with a vibrantproduct portfolio and an extensive distribution network we are continually gaining marketleadership in the consumer security solutions space with our easy-to-use and high qualitysoftware solutions. During the year we preserved this leadership in our key verticals andfocused on adding new segments.

We remained fixated on replicating the consumer security model acrossall our verticals. With the rising acceptance of Brand 'Seqrite' by SMEs and emergingenterprises we improved our market share in the enterprise segment. We were able toachieve this by strengthening our product portfolio improving our reach acrossgeographies and industries growing the user base and expanding our distribution network.We also forayed into the cyber security consulting space by launching Seqrite Services.

We improved our reach in the SME segment by adding more customersacross (the world/India) and in different industries. We also added new features to 'EndPoint Security'. In the Enterprise & Government segment on the Government sidewe sustained robust growth by adding more accounts. While SMEs will continue to remain afocus area we continue to tap the under-penetrated mobile security software marketpresented by growing opportunities and launch of premium mobile handsets in themarketplace.

Our foray into the mobile segment has been a good learning curve andwe continue to be bullish on this category despite short-term aberrations. As a matter offact we have devised a 360-degree strategy with a holistic view to sustain growth in thisarea. During the recent ran- somware cyber-attack in May 2017 the world's biggestcyber-attack we captured the threat ahead of competition and updated our customerssystems and thus successfully prevented ransomware and other malware threats through ourmobile security app through early inception and addressed the threat proactively.

During the year we focused on business productivity profitabilitystrategic reinvestment of profits to support growth cash generation and bettering ourreturns to shareholders. We made significant progress in driving our strategy forward -that of offering a better value proposition to our customers and shareholders.

Our Financial Performance Our performance this year and our strongposition for future growth are deeply rooted in a proven strategy focused on creatinglong-term shareholder value. We delivered satisfactory results while navigating through achallenging business environment in the 3rd and 4th Quarters poiseddue to demonetisation.

Our Consolidated Revenue remained almost flat declining by 0.7% YoY atRs 2999.7 million compared to Rs 3020.9 million in the previous year. Revenue fromRetail Enterprise & Government and Mobile segments accounted for 80.3% 17.1% and2.6% respectively of the total revenues. Our retail segment witnessed de-growth of 7%owing to demonetisation while the enterprise and mobile segments grew by 30% and 40%respectively.

Our EBITDA stood at Rs 901.4 million compared to Rs 1019.2 million inFY2016. Profit after Tax

Making Investments Building Capabilities

We continued to build resilience and increase our competitiveadvantages in the marketplace. We are making the right investments to build capabilitiesand invest in infrastructure systems technology and new products and are at the cusp ofa cyber security paradigm shift. For overall national security we are looking to joinhands to share evaluate and acquire threat intelligence and to develop a robustoperational framework to use this with security technologies. We have also partnered withGovernment of India in its project Cyber Swachh- ta Kendra and helped in developing aBotnet Removal Tool.

We aim to ensure technological innovations in cyber security to securenational critical infrastructure from cyber criminals. Our consumer security segment hasmatured and turned into an 'S' curve. Our aim to implement and execute such 'S'curves across all the segments that we operate in. This will be done by adding moreverticals more segments and more customers.

Moving Ahead

With the rising need for IT security in India our aim is to furtheraugment the growth momentum in the future as well. We remain excited about theCompany's growth prospects and are moving towards transforming ourselves as "amulti-dimensional company" by 2020. We have worked out a "Per Territory PerCountry" view on the overseas market. Elaborating on FY2018 priority areas ourmission is to supply tailored offerings toSMEsand enterprise customers and reach out moreaggressively to the BFSI healthcare and hospitality industries. Furthermore we willdevelop and promote software-as-a-service model and free solutions for mobile devices.

New opportunities are being tapped in the domestic markets and we arealso expanding our presence in the international market through consistent brand-buildinginitiatives. With a relentless focus synergy and drive to excel and commitment to keepusers protected at all times we are enhancing our market competitiveness and expandingcapabilities to achieve industry-leading growth and margins.

General Administration

During the year for the way forward your Board has made importantstrategic decisions which are aimed at furthering the growth strategy of the Companyinter alia in product development sales and marketing.

On behalf of the Board I thank all our shareholders senior managementteam and all our employees for helping us build a sustainable future together.

Warm Regards

Kailash Katkar

Managing Director & CEO