Dear Valued Shareholders
The FY 2015 16 has been another successful year. Your company has continued toshow growth in revenue profitability and focus on new strategic initiatives.
Your company has robust foundation and continues to invest to grow it further. Impleased to announce the highlights of your companys performance during its 27thfiscal year ending March 31 2016. Your company continues to fare well with YoYimprovement on overall business and profits.
Your company has achieved a total consolidated income of Rs. 2183 million during theyear 2015-16as against Rs. 1388 million during the same period last year showing a growthof 57.34%.
Your company has been successful in growing business with its existing clients andcontinues to support aggressive expansion of its client.
Your flagship Software product QFundTMcontinued its organic growth path andhas seen addition of very strong analytics capability. The product isundergoingaccelerated feature addition to deliver more value to its customers. Increasedconfigurability in the system has seen a very positive response from the potentialcustomers and also a potential to expand in additional customer segments.
This year your company undertook & completed setting up a new International DataCentre (IDC) in Santa Clara CA USA. This is to cater to the increasing customer volume.The new IDC together with existing IDCs in Atlanta gives presence in 2 weather zones andhence better DR capability to the customers.
Your company continues to acquire several new clients for Enterprise ApplicationsPractice under KSoft (a fully owned subsidiary of Virinchi). KSoft delivered one of itsstrongest growth ever yielding strong revenue and margins across technology verticals.
The strong investments undertaken over the past three years yielded sustained valuewith long term customer relationship and innovative product solutions. The offshore teamis investing into new products in the areas of mobility and analytics with sophisticatedmarket facing solutions to its clients. In addition the business development team addedand sustained client relationships driving higher revenue per customer.
KSoft continues to invest in Financial Services Healthcare and Life Sciences verticalsand develop innovative solutions for the US market.
Your company through its 100% subsidiary Virinchi Healthcare Private Limitedis in the process of setting up a 600 bed greenfield super specialty hospital spread overa total area of 350000 Sq. ft. across four inter-connected buildings in the primelocation of Banjara Hills in Hyderabad.
The hospital isbeing established with a focus on CONNECT specialties an acronym forCardiology Orthopedics Nephrology Neurology Emergency Cancer and Transplantation.Your company believes in the concept of "Right to Science" and endeavors to makeavailable evidence based latest advancements in medicine and therapy to all deservingpatients.
Your company continues its investment towards building the human capital with specificfocus on meritocracy. The focus continues to be on building a customer centric work force.
Looking ahead to 2017 your management team is looking forward for your continued trustand support to take a planned growth path. Your company has multiple opportunities viz.QFundTM Enterprise Applications Practice software service offering to theQFundTM& Enterprise Applications Practice clientele. Your company willcontinue to be Software Products & Services focused for the developed marketsand alsoadd capability by becoming business solution provider in Healthcare verticals throughaddition of new hospitals in India.
On behalf of everyone from Virinchi Management team Id like to thank ourclients employees and all the stakeholders for your continued support in making anexcellent 27 years. Everyone at Virinchi is fully committed towards the companysoverall goals and hence delivering a very strong year ahead.