Dear Shareholders
In the last few annual reports I had shared how the IT industry has gone through rapidchanges and to be successful in this new environment we needed to change in terms ofmarket strategy technology capabilities customer engagement models; all leading to atransition from a services Company to domain and technology led Solutions Products andPlatform based Company.
I am happy to share that the transformation journey that your Company initiated fouryears back continues to show an encouraging movement towards drawing a higher portion ofrevenue from Solutions and Platform based offerings. Our leadership in the Next-gen TMMobility & Messaging products and solutions our expanding offerings in Platformizedsolutions and frameworks our ability to strengthen and grow our position indifferentiated and niche business areas through our product offerings like Zyter NetSfereand our ability to provide our clients with exible high return engagement models haveenabled us to emerge as a more robust Company poised for continued growth.
This year we continue to see results of these strategic decision and changes we put inplace. Our transformed business model resulted in revenue growth of 18% to 2792 Cr andNet Pro t of 111.3 Cr beating our initial guidance of 10-15% revenue growth. All ourdivisions reported good growth Technology Solutions at 2354 Cr Mobility and Messagingat 243 Cr and Product Engineering at 195 Cr.
The increased traction in our Technology Solutions division wherein we embarked upon amajor transformation few years back to move more towards technology solutions rather thanpeople-based delivery continue to grow and contribute to better margin pro le. I amparticularly encouraged by the increased traction in this business and a very healthlyyear-end pipeline. In the Mobility segment the legacy revenue sharing business remainedstable while as ou EMS and NetSfere based business continued to grow in terms of number ofclients messaging traf c and revenue. In the Product Engineering division theinvestments that we made last year resulted in substantial increase in the revenuealthough margin pressures continued during the year.
I am encouraged by the signi cant business momentum we have been able to generate overthe last couple of years which I believe will enable us to continue to deliver greatervalue for shareholders through an intense focus on our strategic priorities:
Next-Gen Mobility & Messaging Solutions and Products: Extend our leadershipposition across high-value technology-driven solutions and products in the EnterpriseMobility space.
Pioneer in transformational new Platformized Solutions and Frameworks for businesses.
Innovation and Thought Leadership through CoEs: Strengthen and grow our position indifferentiated and niche business areas by leveraging new technologies.
Flexible High Return Engagement Models: Continue to build partnerships with customersby building solutions that drive down their costs enabling new business competencies andcontributing to increased revenues for both your Company and the Customer.
The strength of our business lies in the expertise of our employees who have continuedto show their commitment to the in nite family long standing customer relationships ourdifferentiated business models our solution capabilities and our products &platforms. It is now time to see bene ts of the efforts and investments made in the pastfew years and we believe the coming year would be equally exciting for your Company as weanticipate healthy revenue and margin growth.
In conclusion on behalf of myself and the Company I would like to express ourgratitude for your con dence in us and the support you have provided to us over the years.It has always been our endeavour to continue to enhance value for all our stakeholdersCustomers Shareholders and Employees.
Regards
Upinder Zutshi
