possibilities with Technology
Letter to Shareholders
As I write this year's letter to yousharing crucial insights onour financial results current market position and the roadmap aheadthe world isenduring an unprecedented health crisis in the aftermath of the COVID-19 virus outbreak.The event has drastically impacted millions of lives and livelihoods and its implicationswill continue to reverberate across the socio-economic sphere for decades to come. Ourthoughts and prayers remain with the communities and the most vulnerable within them. Westand in solidarity with our healthcare workers and first responders who are riskingthemselves for the rest of us and persevering in the fight against the pandemic.
We entered the current crisis at a time when our growth numbers weresteadily improving. In 2019 we weathered some extraordinary challenges through astrategic eye for detail a team of expert solution finders and disciplinedcourse-correction. Our revenues stood at 7706 Million reflecting our verticals focus andcooperation in ensuring firm performance. Our digital work increased by 0.2% Y-o-Ycomprising 75% of our overall revenue in FY-20. Our large-scale digital transformationdeals stand at $10 million. Our earnings per share stood at by INR 7.70. We had operatingcash flows of INR 564 million for the year.
During the last few weeks in March we experienced the first wave ofthe COVID-19-led disruption. As a preliminary action we mobilized the resources needed tobring back our employees dispersed all across the world. Our service excellence stems froma team that brings novelty integrity and visionary qualities to the table. It wasimperative therefore to ensure the safety of our employees and safeguard their intereststo help them navigate whatever the circumstances might
bring. We took a proactive approach by bring 1
ing them home in the nick of time and quickly deployed the 90% of ourentire workforce in a quintessential work from home environment in a phased manner. As apart of an extensive exercise we reassessed our global delivery capabilitiesre-engineered our supply chains and leveraged digital channels to serve our customersuninterruptedly through the crisis and beyond. We razed rigid structures to build a farseamless secure infrastructure guided largely by leaner technologies related toautomation data network security and remote access. The net outcome of inspiring suchan adaptive capacity was the appreciative words from our clients that continued to tricklein. In about 130 days since the initial lockdown we successfully delivered over 60product releases demonstrating our diligence and dedication to digitally empowering ourclients in this crucial need of the hour.
As a 'Born Digital' company confronting a crisis we have fired allour growth engines to capture new opportunities and deliver hyper-relevant digitalsolutions to our existing customers while pushing to build a sustainable more resilienteconomy. COVID-19 is undeniably the worst we have seen in years but I believe this crisishas a hidden opportunity. To crack it open we are making the right digital investments intechnology scale and human capital and sowing the seeds of an exciting future.
We have been reiterating the importance of digital transformation as acritical enabler of future success for many years in a row. We have been loud andpersistent about how organizations risk lagging behind if they continue to remainprisoners of their legacy systems. But most enterprises weren't ready to go down the roadand resisted digitalization. They weren't ready to let go of their traditional wisdom andtake steps in the favor of transformation. The COVID-19 pandemic however has foreverchanged their behaviors. The fear of the fallout has pushed organizations to incorporatethe digital element in everything they do and operate effectively around stay- at-homeorders imposed all across the world. Leaders are rushing to adopt technology-firstframeworks to enable delivery at scale and drive customer service relevance.
To support this rebalancing of the business order amidst COVID-19 wehave added more muscle to build a dominantly agile team and find 'infinite possibilitieswith technology.' We have pivoted our attention to the new needs of theclientsautomation cloud security and workplace transformationto ensure thatour customers can operate at optimum levels with proper technology solutions and servetheir customers safely and seamlessly. From reorganizing work arrangements adopting agileways of operations to enabling a porous communication model we have launched a bevy ofmeasures to offer continued support to our customers and strengthen their ability torespond.
With the recent spurt in COVID-19 cases sectors such as Travel andTransport Hospitality Utilities and Retail have taken a severe beat. At Kellton Techwe have worked assiduously to hammer out an action plan for the clients that are morevulnerable than others. As we deliver digital solutions designed for efficiencycost-savings and proximity to marketswhile extending comprehensive supportweare mindful of our clients' budgets and acting in ways that safeguard their financialhealth. We are committed to achieving business success while leaving a positive imprint onour customers' growth. By adopting a flexible approach towards cost objectives we are notonly helping our customers withstand the downturn but also facilitating sustainableincome to them.
We are focused on expanding the ecosystem of our partnerships invarious realms of possibility and provide the next-level support to our clients as theystrive to emerge from this ongoing unimaginable crisis. We have fostered collaborationswith multiple partners including Dell Boomi Jitterbit Google Cloud Apigee and Wor-kato to strengthen our capability in the key technology areas and help our customersreimagine their business DNAs. We are pumping strategic investments in our indigenousOPTIMA platform and offering it under a subscription-based model to encouragepersonalization. We are proactively engaged in exploring more avenues of expansion with afocus on establishing long-term resilience strategies that could be instrumental inhelpingour customers outmaneuver the crisis and better prepare for future disruptions.
I am immensely proud of how our exceptional leaders and employees haverallied together to help our clients drive their digital transformationall whileemphasizing the general wellbeing and safety of each other. We have been able to makeprogress on our growth strategy by embracing principles that stood the test of the timeand consolidated our position as the industry's partner of choice for many successiveyears. We fully understand that the crisis isn't fading in a blink of an eye and the nextfew months will be daunting. But with the right partners committed customers on ourside combined with rich domain expertise the propensity for meaningful innovation and abig war chest we are well-positioned to combat and win over these turbulent times. It'smore apparent than ever that technology is vital to accelerating socio-economic growth.
As we move ahead we strive to deterministically secure our businessinterests and our role towards the greater good of the community by leveraging world-classtechnologies to their absolute best. We stay committed to aligning ourselves with therapidly changing needs staying nimble and empowering our clients with solutions andservices that create lasting value. We are focused on making investments to build aresilient workforce and keep them poised for the growth opportunities in the post-COVID-19world.
I am cautiously optimistic about a swift economic revival and hope tolead more influentially in the next normal. As we navigate these unchartered waters welook forward to your continued support and patronage.