Dear Valued Stakeholders
It gives me pleasure to present to you the 22nd Annual Report for FY 2019-20 ofCeinsys Tech Limited. While this was a year of extreme economic challenges for the worlda situation aggravated almost beyond measure by the unprecedented Covid-19 pandemic. Ibegin with my deep feelings for those precious lives lost due to the ongoing pandemic. 1pray and hope for its early end and for your safety and good health of everyone in theseunprecedented times. This Covid-19 crisis has not only elevated the economic challengesbut also have affected the society at large. Despite this uncertainty your company hasbeen able to deliver positive growth in revenues during the period. Our commitment todriving sustainable profitable growth remains unaltered and 1 would like to applaudefforts of everyone at Ceinsys for the same.
Since the time of the lockdown the safety and health of our employees has been theparamount objective for the Company. Accordingly your Company has framed detailed safetyguidelines in line with national directives for the employees to follow both at home aswell as their workplace..
Responding to the crisis situation your company initiated Business Continuity Plan toensure the health and well-being of all employees as well as on minimizing disruptions toits esteemed customers. Since then some of our offices have resumed with limitedoperations in adherence with the government directives. Despite the unprecedented times Iappreciate the grit and spirit exhibited by our employees and would like to expresssincere gratitude to the entire Ceinsys family for their passion and dedication towardsachieving Company's objectives.
Your Company has extensively adopted collaborative digital platforms to address thecurrent challenging scenario with a prime focus on customer interacts and satisfaction.This pro-active action has reinforced customer confidence in the Company and many of themhave expressed their appreciation and gratitude for keeping their businesses running underthe most challenging conditions.
With the focused strategic and effective implementation of turnaround plan yourCompany's growth has been on right track particularly with focus on shifting of itsbusiness model from the traditional service oriented model to multi-dimensional EnterpriseSolutions model. Many ofthese strategic decisions taken over the past fewyears are nowcomingto a fruition.
Under these unprecedented environment your company has put up a good performance inthe financial year 2019-20. The revenues on Standalone basis for the year were Rs.20140.68 Lakhs registering a year on year growth of 13.80%. The profit before tax(PBT)for the year 2019-20 was Rs. 3364.35 Lakhs recording a positive growth of 729.28%over the PBT of Rs.405.69 Lakhs in financial year 2018-19 This significant increase wasmainly on account of execution of projects having high margin of profit and low overheadcost due to shift from resource intensive work to automized solution base.
The Covid-19 crisis has dealt a severe blow to the economy and has affected the nearterm outlook. 1 am thankful to our Bankers for their support in this testing times andalso for the timely disbursement of COV1D 19 loan at highly competitive rates. Furtherwith the various fiscal and monetary initiatives announced by the government to mitigatethe economic fallout the positive impact is expected to be seen in the medium term. TheCompany is well geared to drive its growth engine in these testing times. The currentpandemic has given the company an opportunity to review its systems and become moreefficient and competitive and I believe this will help us era erge stronger and fitterCompany in the future.
It will be our constant endeavor to strengthen the company through continuousinvestments in brand talent and culture to effectively adapt to the new normal and stayon course of creating value for all stakeholders in a more sustainable manner.
I would like to place on record my sincere gratitude to the Board members and speciallyto our Independent Directors for their continuous support and wisdom. I would also like tothank our employees customers bankers partners and most importantly our shareholders.Your continued support and exemplary faith help to reinforce our commitment to deliveryear after year.