I take great pride and privilege in presenting the Annual Report for FY2017-18. Duringthe period we grew well in multiple ways by improving the existing businesses andventuring into newer formats.
We remain proud of our history and derive from it our entrepreneurial spirt that helpsus grow further. We have remained steadfast in creating further value from our fundamentalbeliefs and have established our credence amidst a competitive scenario.
Year in Brief
The year saw us venturing deeper into our business verticals to deliver furtherscalability to the business. We realised that to scale up in a meaningful way we neededto widen our ofierings and expand beyond our legacy business of e-Governance. We forayedinto new verticals to de-risk our product portfolio and leverage growth opportunities. Wecapitalised on our established track record of handling Government projects to captureadditional markets and increase geographical presence in order to deliver added value toour customers.
Maxidoo a Hotel Enterprise Resource Planning (ERP) software is a project we developedduring the year and are extremely proud of. It is currently under testing phase. Thiscloud-based solution is an easy-to-use interface that acts as a strategic partner forhotels. It facilitates the Hotels in managing inventory maintaining staff controlimproving service efficiency optimising costs and in reducing manpower dependency. Ithelps them access different internal operations on the same platform resulting inimproved efficiency and better resource management.
Installation of Maxidoo enables the hotels in bringing different modules under a singleumbrella including front desk sales reservations and dining. We hope to get itinstalled in at least 200 hotels during FY2018-19.
We have successfully bagged the project of "IT Enablement of Circuit Houses"for General Administration Department Rajasthan State. The solution will be built on theplatform of "Maxidoo" and will be installed in all the 42 Circuit Houses ofRajasthan State across the country.
Other Strategic Projects
Another highlight of the year has been the winning of several IT-based turnkeyinfrastructure projects tendered by the Government. A key objective behind participatingin these projects has been to leverage our expertise in the IT domain to enhancetechnological capabilities of different departments of the Government by implementingquality processes and enabling efficient management. Some of these are to do withE-Governance; Systems Integration; IT-enablement of the Legal Metrology Department inRajasthan; and the Aadhaar-enabled biometric attendance system.
Our Financial Performance
During FY2017-18 our total revenue grew by 6.29% at ` 2264.06 lakhs as compared to `2130.04 lakhs in the previous financial year. Our net profit margin (before othercomprehensive income) was 12.68% while the Earnings Per Share (EPS) was ` 2.76 per sharecompared with previous year's ` 2.98 per share.
Our profitability was lower at ` 302.92 lakhs as compared with ` 326.71 lakhs earlieras we continued our investments in fortifying our project portfolio and strengthening ourhuman capital. We continued our hiring policy and ended the year with a net headcountincrease of more than 37 people as compared with the last year. These investments willtake some time to show actual on-the-ground results. Hence due to higher marketinvestments and lower utilisation our operating profitability suffered.
We are leveraging our domain IT expertise and our enduring relationships with clientsin growing our project pipeline and delivering a value-centric business model. Goingforward we continue to sustain the momentum of our growth. We have embarked on anexciting journey to produce quantum growth and long-term value creation.
We are convinced that by staying true to our commitments we are creating value for ourshareholders. We solicit your constant support in making this happen.
Lastly we would like to thank all our employees for their contribution and we lookforward to their continued support in maintaining our leadership position in the industry.We would also like to thank all our shareholders for continuing to trust and believe inthe Company and look forward to your continued support as we scale new heights.
With a rigorous focus on our strategic priorities we look forward to FY2018-19 beinganother year of progress for our business.