Your Company Datamatics Global Services had a fairly good year during 2015-16. Ourrevenues including our wholly owned subsidiaries grew by about 12%. Our consolidatedrevenue remains flat marginally lower by 1% primarily due to drop in revenue of ourjoint ventures / (not wholly owned subsidiaries) which include Cybercom Datamatics CIGNEXDatamatics and Lumina Datamatics.
The current flavour in the IT industry is that of Robotic Process Automation andArtificial Intelligence. The media is replete with articles of these two subjects. I ampleased to inform you that your Company had foreseen the impact of these two technologywaves and have been working on both of them for several years. Consequently we believethat we are technologically ahead of our competitors in this area. These two technologieshave been embedded in several of our software products including among them i-Q andi-Bridge.
To serve our customers better and provide them the competitive edge we continue toexplore opportunities to acquire products / divisions / companies in the space adjoiningour business.
In line with our strategic focus to help our customers in their Data toIntelligence journey we acquired 1Key suite of products from MAIA Intelligence inthe Business Intelligence space. This product has been rechristened as nSightssuite. It caters to strategic tactical and operational data analysis and reporting needsof multiple vertical industries. It also provides dashboards for smart devices.
We also acquired Appear IQ a cloud based product in the Digital Eco Systems spacewhich we have rebranded as iMobile. It enables Mobile Application Developmentand manages multiple applications in real -time.
I would also like to inform you that in July 2016 we acquired additional equity inLumina Datamatics a company in the Publishing BPO and e-Retail BPO space. This companyhas consequently become a 100% subsidiary of your Company.
We have received a very large number of awards this year significant is IMC ITProduct Award for i-Bridge our smart robotic process automation software. YourCompany has also received the CIOs CHOICE AWARDS 2016 for two of our productsi-Q and nSights. Lumina Datamatics recently won the Corporate ExcellenceAward at the 12th Indo American Corporate Excellence Awards.
Your Company has taken a conscious decision to provide services to Indian corporatesparticularly banks and insurance companies which should also benefit from thecompanys knowhow acquired in the international arena.
To support the ever growing business of our global clients we recently commissioned a22000 sq. ft. facility in Puducherry. This Center of Excellence offers state-of-the-artfacilities and is fully compliant with ISMS standards. The center has a seating capacityof 1200 employees.
Your Company continues to remain financially
Datamatics an A1 credit rating. We are committed to delivering value to all ourstakeholders with the highest standards of governance.
I wish to sincerely thank our shareholders and employees for their continued support.
Dr. Lalit S Kanodia
Ph.D. M.I.T. (USA) Chairman