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Birlasoft Ltd.

BSE: 532400 Sector: IT
NSE: BSOFT ISIN Code: INE836A01035
BSE 00:00 | 25 Feb 232.00 -1.15
(-0.49%)
OPEN

243.50

HIGH

243.50

LOW

231.25

NSE 00:00 | 25 Feb 231.95 -1.50
(-0.64%)
OPEN

235.40

HIGH

238.50

LOW

231.00

OPEN 243.50
PREVIOUS CLOSE 233.15
VOLUME 39628
52-Week high 284.00
52-Week low 47.60
P/E 35.80
Mkt Cap.(Rs cr) 6,433
Buy Price 231.50
Buy Qty 111.00
Sell Price 232.00
Sell Qty 28.00
OPEN 243.50
CLOSE 233.15
VOLUME 39628
52-Week high 284.00
52-Week low 47.60
P/E 35.80
Mkt Cap.(Rs cr) 6,433
Buy Price 231.50
Buy Qty 111.00
Sell Price 232.00
Sell Qty 28.00

Birlasoft Ltd. (BSOFT) - Chairman Speech

Company chairman speech

Dear Stakeholder

The world as we know it has over the last few months gone through the greatestupheaval of recent times. I am of course referring to COVID-19 which promises to changethe way we do business and the way we as humans live and associate with each other. Thenovel coronavirus has caused far reaching disruption not just to human health but also tosocio economic activity. History tells us of a few other such similar phenomena: thePlague the Spanish flu and the Russian flu of the 1890's. Each time it has been throughthe endeavours of mankind: technology and science that we have adapted and advanced inthose few years following the outbreaks with the greatest spurts of creativity. I have nodoubt we will do the same this time around. But to do that we have to be agile and nimbleboth as a people and as Corporates. It is our duty and responsibility to take this up asan opportunity and as a re imagination of business as usual.

The first quarter of this year which normally see significant business activity hasseen us all experience major lockdowns globally and in India leading to a contraction indemand and consumption across industries.

Over the past few months our primary focus at Birlasoft has been to ensure that ouremployees and their families stay safe and that our customers continue to get the samestandards of service. In March we had proactively set up a COVID-19 war room and we had96% of our employees across the globe working from home. This transition did not pose anysignificant disruption to our business or to our customers but in fact we saw animprovement in productivity. The future lies in digital and this pandemic has shown thatto be a reality for our customers. We have found significant growth in opportunitiesacross businesses and communities at large which today depend on virtual engagementincreased cloud adoption health and safety measures including contactless deliveryconsumption based service delivery etc. You will be happy to know that the Company is wellpositioned to leverage these new opportunities even as we continue to work closely withour customers and employees to deal with the fallout of this pandemic.

Against this challenging backdrop I am pleased to share that over the last financialyear which was also the first full year of operations for Birlasoft Ltd post merger theCompany achieved revenue of Rs. 32910 M (US$ 464 M) with the EBITDA margin of 11.9% in FY2019-20. The PBT grew to Rs. 3362 M (US$ 47.4 M) and we generated cash surplus of Rs. 879M (US$ 11.7 M). The restructuring exercise brought with it an expected share ofchallenges but none that we couldn't deftly field and fewer than anticipated. We keptour focus on building a large entity and creating a leader in the enterprise digitalspace and are today taking actions that will lay a strong foundation for the Company inthe long term. With the merged organisations aligning well and working together as OneBirlasoft we were able to accomplish a few noteworthy contracts like signing our largesttransformational deal with Invacare Inc of USA with a total contract value (TCV) of US$242 M. We also signed a record US$ 669 M of TCV deals through the year of which about 65%was new business. In parallel we focused on improving the health of our balance sheetbolstering partnerships and industry advisory connects.

A major pivot for the Company has been to revisit the organization design in order toalign the structure processes and performance management with strategic industry alignedintent. We rolled this out effective April 1 2019 along with an ESOP and long-termincentive plan for our key leaders a new sales incentive policy and grade harmonizationfor our employees. The induction of key talent in critical leadership roles has beencompleted with our Chief Delivery officer and Chief Business officer based out of Pune andNew Jersey respectively. Birlasoft had 10268 professionals as of March 31 2020 and sawa net addition of 207 professionals during the year of which almost half are womenemployees. This is in line with our Group's philosophy of remaining diverse and inclusive.

The CK Birla Group has always been known for commitment to the community. And atBirlasoft we believe in the concept of sustainable development in order to make apositive and viable impact to the society through our community initiatives. Our programsaround environmental sustainability and women's empowerment also provide a genuine impetusto the volunteers who devote time and effort to these endeavours. During the year variousCSR initiatives like Shodhan (tackling the issue of crop residue burning in Haryana andPunjab in active participation with the CII Foundation) and Disha (focus on infrastructuredevelopment of identified schools and co-scholastic development of students studying inclasses I to VIII) were rolled out. As the COVID-19 pandemic raged across the countryBirlasoft partnered with ‘Under The Tree (UTT)' a Noida based Non-GovernmentalOrganization (NGO) to actively support daily wage earners during the lockdowns. Throughthe nutrition campaign entitled "Meal First" volunteers from Birlasoft and UTTwere able to bring a positive change to the lives of 1600 people including 450 children.Food supplies and hygiene kits were also donated. All this is in addition to the financialcontribution Birlasoft made to the PMCARES Fund the Indian government's fight againstCOVID-19.

As we move ahead and the challenge against COVID-19 continues I want to thank all ourstakeholders for their generous support and cooperation. I look forward to yet anotherexciting year of opportunities for Birlasoft in the new normal.

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