The world is facing tough winds; economies across the sectors are fluttering but weare sailing through the rough waters with iron willpower. This unprecedented situation hasbrought about radical changes not only to individual lifestyles but also to theorganisations in the way they function. I proudly recall that as a company we overcameevery challenge we experienced since inception. This pandemic howeverhas posed a uniquechallenge to all of us. We are nevertheless holding on to these rough tides andcontinuing to sail through with the strong support from our committed employees customersand partners. We have proved once again that we are formidable and tough as a team infacing these kind of challenges. I express my deepest gratitude to all the shareholdersfor being with us as a family and bestowing the trust in the company.
Our top priority has always been safety and wellbeing of our employees. Our teamformulated a robust action planto monitor and implement specific precautionary measuresfor the operations and productions teams to maintain proper safety and hygiene standards.We strictly followed the guidelines issued by the Government with respect to enforcingsocial distancing norms and maintenance of clean and hygiene work environment. As the no.of cases began to raise we Subsequently restructured our operations enabling ouremployees to work remotely minimizing the health risks to our employees andsimultaneously ensuredour customer commitments are not impacted.
Like on most organisations in the world the pandemic had an impact on our businesstoo. But we tried to do ourbest to mitigate the risks at all possible levels. Ouremployees have exhibited a strong sense ofresponsibility and have worked relentlessly toensure we continue with business as usual despite the hardship.To ensure businesscontinuity we had renegotiated the contracts so that disruptions in any deliverytimelines due to the pandemic will not affect the business. Our team and associates didtheir best to seamlessly transition the hardware equipment to all the employees to workremotely while ensuring compliance to ISO 27001 security norms. Initially we did face aslack in our efficiencies but the team came up with innovative andwell-co-ordinatedsolutions to take our efficiencies back to pre-pandemic levels. Even in our on-siteoperations we faced significant challenges especially while performing outdoor surveyingactivity. Due to strict lockdown norms in the cities where majority of our project sitesare located the surveying activities were impacted and had to be rescheduled. It alsodemanded additional health equipment for our field engineers which we quickly organizedto ensure they un dertake the survey in a safe manner. In addition to this manyrestrictions on issuance of US visas to foreign nationals continued to pose significantoperational challenges. Further heavy disruptions in the supply-chain between thecountries has also effected the volume of the business.
I would like to now present to you all the financial highlights for FY 2019 - 20. Thestandalone turnover was 7 1690 lakhs as opposed to 7 2152 lakhs. We noted a decline inthe revenue by 21.46%. In terms of revenue performance and business growth underconsolidated financials your Company in the current year achieved revenue of 7 4272 Lakhsin FY 2019-20 as compared to 7 5338 Lakhs in FY 2018-19. We noted a decline in therevenue by 19.97%.
The current year Profit After Tax (PAT) under Standalone is ? 210.26 Lakhs as comparedto ? 211.SB Lakhs in the year 2018- 19. In the consolidated financials the PAT forcurrent year is ? 29.96 Lakhs to ? 1241.89 Lakhs of PAT in the previous financial year.
While the world economy is facing headwinds the telecommunications sector seems tohave a positive outlook. According to a research and data analysis Telecommunicationswhich held the largest market share by application in 2016 should remain the market leaderthrough 2024. The fortunes of critical industry areas where Cadsys has its prime footingappear positive in the coming years. There is a significant increase in the demand forbandwidth and also the rising demand for transmission speed and data volume in datacentres is primarily driving the market for fibre optics. There is a rise in demand ofoptical networks in the Asia Pacific region which is good news for the industry.
As I mentioned earlier the current situation is all about rediscovering ourselves andmoving forward by grabbing not only the opportunities that fall in our path but alsomoving out of our comfort zones. Slowing down our pace is just a process of refuelling tobounce back with new energy. The technological front is providing those opportunities tobounce back with new energy. This is the generation of5G and the whole world is gearing upfor the new revolution. The change in the working environment due to the pandemic theneed for constant connectivity with the world has become an imperative essential fromevery individual to large companies. However due to the lockdown and we do exceptslowdown in the inflow of the business in this year. Our team and associates have beenproactively working and identifying the opportunities to keep up the business inflow. I amconfident that the coming days will provide platform for the company to boost itscapabilities accelerate its growth and renew new energy. I once again thank each andevery investor shareholder the dignitaries of the National Stock Exchange ShareTransfer Agents Senior Management customers vendors auditors company secretaries andall the employees of the Company for extending their continuous support and encouragementtowards your Company. We can achieve success together.
|Warm regards |