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Agnite Education Ltd.

BSE: 532358 Sector: IT
BSE 05:30 | 01 Jan Agnite Education Ltd
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Agnite Education Ltd. (TELEDATAGL) - Chairman Speech

Company chairman speech

TELEDATA INFORMATICS LIMITED ANNUAL REPORT 2007-2008 CHAIRMAN'S REPORT 'It is the job of the leadership to get the strategy right and design the right structure. Then successful teams can tie the strategy with structure with very well defined systems and deliver performance with profit'. Report for the year 2007-08: It gives me great pleasure to present the highlights of Teledata Informatics Ltd for the year 2007-08. This is the first year, when the activities of Teledata Informatics Ltd, as a stand alone company are reviewed. After implementation of the Demerger process, two companies, namely Teledata Marine Systems Ltd (TMSL) and Teledata Technology solutions Ltd (TTSL) have been formed as separate entities. Therefore Teledata Informatics Ltd, now has a new focus, efficient operational structure and well defined markets within and outside India. The process of organizational change in the Teledata Group is both challenging and invigorating. During the current Financial year, the management invested its time and energy to monitor the process of reorganization, re-organisation and re-engineering, to set new standards of performance and to develop successful teams in Teledata Informatics Ltd. The challenge every company faces on Demerger are: a) The prospects of special core strengths in each of the demerged companies becoming islands of excellence and silos of expertise at the cost of cooperation and synergy. b) The possibility of 'reinventing the wheel' in each company, with the focus turned inwards. c) The slide, by way of inertia and lack of creative effort, towards duplicating layers of bureaucracy in each company, increasing the cost and reducing the productivity. Our talented senior Management teams have been trained to take advantage of the new opportunities for each of the three companies and leverage, cross- sell and synergies intelligently and suitably, the special core strengths of the three companies in Teledata Group. During the year under review Teledata Informatics Ltd (with the verticals of Software Development & Services, Education, Utility, Networking & Communication, TBO etc.), functioned as a relisted company with a consolidated net worth of Rs. 414.29 Crores (about 83 million USD) and equity capital of Rs. 39.33 Cr (about 8 million USD), with 19.66 Crores equity shares of Rs.2 each, with promoters share holding of 25.23%. Sales and Profit: The annual Sales for the year ending Mar. 2008 work out to Rs.1036.44 Crores and the Profit after Tax is Rs.250.51 Crores. Though top line has increased by about 14%, the current year's figures of sales and profit can not be realistically compared with the previous year's figures due to changed entities. I would like to thank every one in the Teledata family, for their collective performance to contain the cost, very effectively during the year, when Demerger puts lot of pressure on cost increase. Significant Events during 2007-08: 1. Teledata Informatics Ltd., moved into the new premises of Teledata Towers at 37/1,Tambaram Main Road, Velachery, Chennai-42, on 28, Aug. 2007. Shri T.S. Bhattacharya then Managing Director of State Bank of India, kindly graced the occasion during the inaugural functions and declared the new premises open for Teledata Group's activities. Teledata Towers (Nine Floors and 50,000 Sq.ft floor space) became operational and departments, project teams, etc. moved in. Intelligent and innovative employees of Teledata, immediately got excited and interested in the Building Management Systems (BMS) ,which gave birth new business activity in BMS evolving. 2. Big projects for IT and services implementation were taken up or provided technical support in the states of Arunachal Pradesh, Nagaland, West Bengal, Madhya Pradesh, Bihar, Karnataka, Gujarat, Orissa (University) etc. It is gratifying to know that several of these are repeat orders, validating our service to the Customer. 3. Deloittes, Touche and Tohmatsu, Asia Pacific (under the Deloitte Technology Fast 50 India 2007 Program) have in Dec. 2007 identified Teledata as one of the fastest growing technology company in Asia Pacific (part of the honour goes to Teledata marine Systems Ltd (TMS) and Teledata Technology solutions Ltd (TTS). Subsidiaries of Teledata Informatics Ltd. Teledata Education and Research Foundation Ltd and PT. Teledata Energy Services Indonesia, Indonesia. are the new subsidiaries of Teledata Informatics Ltd. These new subsidiaries augment the existing subsidiaries FXA world Plc, Net Eng Tel Co. Ltd, Kryptos, Esys Technologies Pvt. Ltd., Insoft systems, Teledata Education Management Systems Ltd, i-Max Networks etc. Integrating the subsidiaries with the core values, Mission and vision of the mother company is very essential and Teledata Informatics Ltd takes great care to constantly improve the synergies between all the entities for achieving and improving upon the goals, targets and standards of the company. Web EIM-Software Product and Service in Education: Web EIM, now is the flagship product of Teledata Informatics Ltd. It is being successfully marketed in US, Thailand etc. as a product and also as a subscription service. The product is meant for Public and Private schools and as our commitment to quality, web EIM is SIF (Schools Interoperability Framework) certified. Web EIM is product standard SIF enabled application. The Schools and Libraries Program of the Universal Service Fund of USA, commonly known as 'E-Rate,' is administered by the Universal Service Administrative Company (USAC) under the direction of the Federal Communications Commission (FCC). WebEIM is an approved e-rate vendor, which paves way for increased and wider marketing in USA. Looking Forward: We can look back with satisfaction on our commitments in 2007-2008 and key goals we have achieved. Sales figures are heartening, Newer software products/projects at State and Government level, are shaping well, marketing teams globally and in India are gearing up to take on the new targets as a stand alone company, companies entering the Teledata fold are adapting & performing well and quality is constantly becoming a way of life and is taken to a higher level with Total Quality Management (TQM). Six sigma and the Information Technology Infrastructure Library (ITIL), a customizable framework of best practices designed to promote quality computing services. Teledata places equal importance to process quality, product quality and people quality, making knowledge @work enriching and rewarding for our customers. This approach makes Teledata Informatics Ltd a Human Capital company with a knowledge base that benchmarks positively in the Industry. In a nutshell, 2007-2008 is a year of change management at Teledata Informatics Ltd. The Senior Management, succeeded in getting all the employees committed to change and transformation. We have trained our people well in Project Management and this enables us to handle turn key - Projects very well. The Board and the Management have spent considerable time in making Demerger successful and synergizing the acquisitions. The Board wishes to express its gratitude to the staff of Teledata Informatics Ltd, for their dedicated effort and team work in bringing Teledata Informatics where it is today. The essence is to make Teledata a great place to work and commercially very successful, with the blessings of Almighty. Gp. Capt. K. Balasubramanian, IAF (Retd) Chairman