SPICE SYSTEMS LIMITED
ANNUAL REPORT 2000-2001
It gives me immense pleasure to share with you the emergence of Spice
Systems Limited (formerly GBC Modicorp Limited) which change of name was
subsequent to the determination of the Joint Venture Agreement between
SpicaCorp, the Indian partners in the erstwhile Joint Venture, saw great
potential in this business being a pioneer in Office Automation,
Information Technology and Telecom.
GBC is a pioneer and world leader in automated document finishing systems
to present, enchance and protect information. In India we market the GBC
Binding, Laminating and Paper Shredding systems and their related
consumable and supplies. With the opening of the economy the market for
these products is buoyant. Our exclusive representation in India for GBC
products and the excellent relationship with GBC have opened new avenues of
growth getting us representation in Nepal and Bangladesh also.
In the Electronic Franking machine business we represent Neopost-France.
With the withdrawal of the revenue stamps in our country this business is
showing upward trend for the future. As the representatives of RISO Kagaku
- Kagaku - Japan the world leader in Digital Duplictors, this business is
posied for exponenetial growth in the coming years filling the gap between
photocopying and offset printing. This business entity would become a force
to reckon within the office automation industry representing international
brands like GBC, Neopost and Riso.
Our extensive sales and service network across the country has a vast reach
covering the entire length and breadth of the country. The same is ably
supported by our extended family i.e. the dealer channel for sales and
Authorized service provider for after sales support resulting in customer
delight. The technical know-how and manufacturing facility of ours at Noida
has the potential and capacity to manufacture world-class products for GBC
in a buy-back arrangement.
The focus areas for 2003 would be adopting of pull and push strategy,
enhance productively, channel development, solution selling, creating brand
equity, product retionalization and customer delight.
I would like to take this opportunity to extend my gratitude to all my
colleagues for their whole hearted support; to our extended family of
vendors, suppliers and dealers with whom we have worked very closely and
forged strong bonds; to our collaborators for their invaluable support and
guidance; to our shareholders for their trust in us; to our bankers for
their continued support and most of all to our growing family of customers
who have reposed their turst in our ability to meet their requirements in
the best possible manner.