It gives me great pleasure to welcome you to the 13th Annual General Meeting of yourCompany and share with you the progress that your Company has made amidst Global businesschallenges and opportunities.
While there is a huge global impact of business we have ensure that we have a steadygrowth and strong foot on ground to sustain our growth into next year. I am happy to sharethat we have enough pipeline of business growth in coming years. We have expanded scope ofwork with many clients to bring more revenue sources. This year has been a year ofinvestment in our people and partner development to better growth. However we shallcontinue the focus and investment in identifying productive associates into future.
We have achieved some success in this direction the total income of the Company forthe year ended 31st March 2018 was Rs. 2286.50 Lacs as against the totalincome of Rs.1454.80 Lacs for the previous year ended 31st March 2017. TheCompany has earned a Net Profit aer Tax of Rs. 109.55 Lacs for the year against ascompared to Net Profit of Rs. 100.05 Lacs in the previous year.
Cloud the Future of HR & Business :
Your Company is working in the areas where 40% of the workforce are in 55+ millionMSME's in India. SME's make the maximum employment generation for India in Businesssectors. To manage these Human Resources for business increasing the significance for HRfunction with cost optimizations. We at Husys are very bullish about the business andscope for enabling these enterprises. With Cloud it also gives us a greater opportunity toprovide service anytime and anywhere in the world. This also opens up the opportunities toprovide our cloud services without boundaries of geographies. We have a huge opportunityahead to invest in our Technology platform with robust Artificial Intelligence andPredictive Analytics to cross sell more services. This reduces the effort and cost of saleand improves profitability.
Growing Global Partnerships : India the future
We have made significant effort in building India story with our International partnernetwork. These networks constantly work for developing India based Business for expertiseexport. The relationships are bringing sustainable business flow. Our partner network onOutplacement also making a great progress thus promising a strong flow of Revenues.
Startup India : The Future of Franchising in India
A great emphasis has been laid by our Prime Minister Shri Narendra Modi on the youngergeneration to startup their enterprises. An enterprise startup focus is boosting theopportunities for Franchising. Your company has taken a giant step in building andnurturing those entrepreneurs. Over the year we have built a strong network of FranchisePartners and they are ready for sustainable revenue for your Company with their interestas owner. We believe that this Model of building Franchising Partners TechnologyDistribution Partner and Consulting Partners would boost our growth in future and addprofitability. The mantra of "not to reinvent wheel" key for future Partnerswith 17 years of legacy by Husys. We have established a strong process guideline forfranchising. Also various orientation programs and training programs conducted to Inductthem well to our businesses environment. We have made the budget planning with each of theunit partners to focus on delivery for coming Financial year. Similar revenue sharingarrangement and partnerships signed with India's largest co-working spaces would giveaccess to our partners to nurture and generate more business. We call these as a"Corporate Sales Program" where one relationship would give access to themultiple startups and growing clients across the country.
Quality is way Life :
To help the organization to move in a right direction quality processes have beenadapted to run our business. We have established various processes and the check points todeliver the best to the Clients. All these processes are monitored through our Cloud CRMProject Management (Client Experience Management CEM) application for efficiencyand Business Intelligence. By adhering to the practices and processes we are expecting tocomplete the certification of ISO standards this year. This will give us an edge toprovide consistent quality services.
Your company shall strive to catch up the new opportunities and expand its scope ofservices to be a leader in providing the best HR Services to SME's and Global MNC's. Ournew signups with our international patners created a great de-risk for businesscncetration and also spreading the opportunity. Further we have also signed up withAndhra Pradesh State Scheduled Castes Cooperative Finance Corporation Limited forSelection Implementation and Monitoring Procedure for Skill Development Training Programfor SC unemployed Youth of Andhra Pradesh State under Ministry of Social Welfare.
I am confident that Husys with its excellent clients committed associates and strongand stable partner team will continue to deliver significant value to all its stakeholdersin the years to come and will achieve our dreams.
I would like to thank all our Shareholders Investors Associates (Employees)Franchise Partners Clients Principals and all Other Stakeholders who have always stoodby us.
I look forward to your support and encouragement in making your company the Leader inthe HR space.
Gundlapally Ramalinga Reddy
Chairman & Managing Director