Dear Fellow Shareholders
The COVID-19 outbreak has pushed the world into an uncharted territory.Our hearts go to so many people who have lost their jobs and loved ones. Our prayers andcommitment to assist all our fellow citizens is at the top of my mind. I am glad to reportall CyberTech associates and clients are safe and everyone at CyberTech rose to assist theCompany.
It is my pleasure to share my thoughts on the financial year 2020performance. It was a strong financial year that observed robust top line as well asbottom line growth mainly driven by our US business. Results for the year includedRevenue of Rs. 119 crore an increase of 16% over the previous year and PAT of Rs.13.2 crore an increase of 29% over the previous year. Growth was recognized in all areas.
Let me first share key _financial highlights of FY20 with you:
Our total revenue stood at Rs. 1191.6 million in FY20 asagainst Rs. 1031.1 million in FY19
Our operating revenue stood at Rs. 1128.2 million in FY20 asagainst Rs. 967.6 million in FY19 reflecting a growth of 16.6% in rupee terms. The growthwas mainly driven by growth in US business which constitutes 92% of revenue
Our reported EBITDA for FY20 was at Rs. 245.2 million (20.6% oftotal revenue) as against Rs. 198.7 million in FY19 (19.3% of total revenue) reflecting agrowth of 23.4%
Our total Comprehensive income for FY20 was Rs. 140.9 million asagainst Rs. 104.9 million in FY19 reflecting a growth of 34.3% over previous year
We continue to have a strong balance sheet with reliable longterm profit streams and no debt
Our US based business maintained growth of 16% for the yearprimarily led by orders from both new and existing customers.
We continued to deepen in our strategic partnerships with esriRand also SAPR and CiscoR . I am pleased to announce that Cyber Techis the First esriR Partner to be awarded the ArcGIS Cloud Service Specialtydesignation. This Specialty designation recognizes Cyber Tech's expertise highstandards and best practices for driving the esri Geospatial Cloud.
We also see opportunity as the world is moving towards digitalinfrastructure - the Cloud and SaaS based apps. We continue to enjoy strong support forour Clients and we have an impeccable market reputation of the quality of our products andservices. We have no borrowings and have a strong balance sheet.
On Spatialitics front we have made significant progress and releasedthe Cloud ready version of our Public Safety product Geo ShieldR which isbeing beta tested by our lighthouse partners. We have several US utilities companies whohave showed their interest in our Spatialitics Utilities product suite. SpatialiticsHealth product suite is also gaining traction in current pandemic situation. As ourSpatialitics R platform architecture evolves older components became obsolete.We have made a conscious decision to recognize an impairment to the remaining originalcapital investment in our books. Also going forward we will reduce the capitalizedinvestment. This has been reacted in our last quarter results with a reduction ofcapitalized intellectual property by approximately Rs. 5.4 crore.
We made significant progress in marketing our offerings. Our variousproducts were exhibited at the esriR User Conference 2019 held in San Diego.It is my pleasure to announce that the Spatialitics Unity Engine has been listed in theSAP App Centre and the esri ArcGIS Marketplace. These listings should offer significantvisibility for the product in the Utilities market.
Along with SAPR and esriR events we have beenparticipating in significant industry forums for vertical-wise targeted marketing. Weparticipated in "Water / Wastewater Conference 2019" and "AWWA Wisconsin2019 Annual Meeting and Expo" to exhibit our offerings for the Utilities sector.
It makes me feel proud in sharing with you that the Company hascompleted 25 years operations this year on January 19. Our associates and employees areour real strength. Our Executive leaders have grown with the company and are integral partof the CyberTech family. We have over 150 employees who are with us for more than 5 yearsand over 50 employees who are with us for more than 10 years.
We as an organization always strive to develop a trusted businesspartner relationship with our customers and help them in achieving sustainable businesssuccess. Our robust order book shows our progress in achieving this goal. Our TotalEnterprise Lifecycle Value of our customers has grown significantly as most of ourcustomers work with us for a long period of time.
As a company we remain focused on following areas:
Cash flow management and continuous cash generation fromoperations
Supporting our customers through this pandemic
SAP R S/4Hana and Cloud migration
Delivery of esriR Managed Cloud Services
Sales and marketing of Spatialitics Products through direct andthrough partner channels.
I would like to thank all our shareholders customers and employees forreposing their trust and confidence in us. We are positioned to come out of thisunprecedented situation stronger and deliver sustainable growth.
|With regards |
|Vish Tadimety |
|Place : Trevose PA USA |
|Date : August 12 2020 |