In fiscal 2016-17 your Company took many a leap forward to reinvent and re-imaginecapabilities identifying potential growth areas and building newer skill sets for thefuture.
Sasken 2.0: A time for reinvention
Keeping in mind our dynamic and evolving nature of business we have chosen a name thatbest represents our organization and the work we do. The name of your Company has changedfrom SASKEN COMMUNICATION TECHNOLOGIES LIMITED to SASKEN TECHNOLOGIES LIMITED with effectfrom February 14 2017. As you are aware in the year 2000 we decided to focus oncommunications as the key vertical and serve all constituents of its value chain. Thenexus of forces such as computing communications mobility cloud social media andanalytics has transformed communications into a core ingredient across all businessverticals. Our expertise therefore now serves businesses ranging from Automotive Consumerand Communication Industrial Automation Semiconductors Satellite among others. Our newname reflects that our addressable market is immense and opportunities abound for ourgrowth.
In our quest to achieve sustainable growth we have embarked on a five year journey thatwe refer to as our 5 x 5 vision'.
Our quest is powered by our strong engineering capabilities which we have built sinceinception. This vision stems from our engagement with a globally leading consultant andtraction with our key customers. To achieve this we have created an organization that isagile and growth oriented. The choice of our 5 Business Lines is a result of a detailedstrategy exercise that has unequivocally pointed out that our addressable market is largeand growing. Our growth target is therefore very realistic and achievable. The fundamentalprinciple which we will always adhere to is the pursuit of responsible sustainable andprofitable growth.
Recent geo-political changes including proposed visa regulations in the US and imminentBrexit in the Euro-region have been pre-occupying the captains of our industry. Ourknowledge of Embedded and Digital IT' skills are unique and much needed as the waveof Digital Transformation' pervades all Glocal commerce'. Therefore webelieve that there will be no adverse impact on your Company.
Keeping the dynamic technology and vectors of change we have crafted a new strategy toposition ourselves as the Chip to Cognitive' company. We are stepping into a worldof possibilities fuelled by the use of cognitive sciences and are working with leaders inthe technology ecosystem to enable data-driven solutions that will help define the futureworld. These changes are expected to become pervasive and encompass all areas of ourprofessional and personal pursuits.
For many years now your Company has enjoyed the reputation of being a thought leaderin Product Engineering Services (PES). In the current year Zinnov a reputed researchconsulting and advisory company has positioned Sasken in the Leadership Zone for theSemiconductor and Telecommunication verticals in their Zinnov Zones 2016 ProductEngineering Services ranking. Sasken is also featured in the Execution Zone forAutomotive Consumer Electronics and Industrial Automation. As part of this study Zinnovmapped leading service providers in various segments and ranked them based on theirR&D practice maturity breadth innovation and ecosystem connect.
Our business comprises both Product Engineering and Digital Transformation Services. Asa leader in providing PES we have contributed significantly to product developmentsustenance and testing for several marquee customers. Our combined strength in silicon andthe smart device ecosystem especially Android has established us as a leader inproviding a suite of PES for smartphones. A testimony to that is our successful executionof several first-of-a-kind upgrades. Our knowledge of semiconductor platforms enables usto execute complex programs with autonomy.
In the automotive electronics space we continue to enlarge our footprint which spansIn-Vehicle Communications Systems (ICS) Telematics and Advanced Driver Assistance Systems(ADS). For several Tier-1 auto OEMs we have built Auto Grade Linux-based ICS systems andhave helped them keep pace with the evolution of technologies relevant to Telematics andVehicle-to-External (V2X) solutions. Our expanded range of offerings includes V2Xsolutions which is one of the core enablers of autonomous driving.
In the rugged and industrial devices arena we are helping leaders keep pace with theevolution of underlying hardware and software platforms. Our services enable OEMs supportcritical applications such as enterprise asset management among others by incorporatingmultiple technologies that help automate and streamline logistic and other processes. Ourautomation framework provides critical testing services to global leaders in the ruggeddevices and consumer electronics space. We have completed several projects that havehelped OEMs upgrade existing product lines to support the latest Android versionNougat'.
We are working on cutting edge technology in the industrial automation space. Aninstance of this is the work we have done to enhance the communication efficiency of arobotic assembly system.
On the IOT front our solutions target growth areas such as telematics trace and trackindustrial IoT and home automation. Our work helps customers build home gatewaysincorporating advanced voice activation features cloud & sensor integration andsupport for Long Term Evolution or 4G networks.
In the Digital IT space we are engaged with a large European conglomerate to build asuite of applications addressing the transportation space within the Smart City vision. Wehave developed a cloud-based Actionable Insights Platform that helps a leading MobileVirtual Network Operator uncover insights from large volumes of data and enhance theirprofitability. We have developed a Digital Platform' for the North America marketwhich brings together service providers (or sellers) and match them to buyers (orconsumers) through the convenience of a mobile app based on location. We have built outmobile application suites for the urban commuter improving user convenience and addingsupport for sophisticated fare models for a European conglomerate.
During the year your Company paid an interim dividend of Rs. 2.50 per equity share inOctober 2016. In addition we are proposing a final dividend of Rs. 4.50 per equity sharewhich is subject to your approval at the Annual General Meeting.
The total dividend for the year ended March 31 2017 will amount to Rs. 7.00 per equityshare of Rs. 10.00 each. I trust that you would be happy to note that your Company hasmaintained its track record of paying dividends since its listing in 2005.
On behalf of my management team I assure you that we will do our best to ensure thecontinued success of your Company. We are grateful for your support and trust that youwill continue to repose your confidence in us.
Rajiv C Mody
(Chairman Managing Director & CEO)