Ratan Kumar Srivastava
Founder Chairman and Managing Director
I feel immense pleasure to share with you all that the year 2020-21 has been aremarkable year for Ksolves India Limited in terms of growth expansion andaccreditations despite of current challenges like current global pandemic. The same didnot impeded our progress and we have achieved extraordinary results.
We also achieved several significant milestones during the i year. We have launched IPOsuccessfully our employee mark almost doubled we have stepped into different platformsfor tech partnerships and our revenue and profit figures shown the tremendous growth.
Elaborating the above achievements I would like to highlight i that during the yearour Company had fought with rough time of pandemic and won by sustaining itselfgracefully with no loss of productivity and in fact at its traditional forte the companyalso kept on consciously acquiring projects based on the newer technologies as is theorder of the day.
The company was thus able to showcase grit and determination by posing itself aspartner in business and growth for its customers thereby winning their faith resultinginto much more strengthen customer trust.
The Company has grown in terms of customers' base. Along with International customersthe company has also added the good base of domestic market customers. The Company ishaving good business continuity plan in place resultant to to which the deliverables weremanaged properly and flawlessly even during the pandemic. All the projects weresuccessfully delivered.
Clients and Employees Retention ratio: The global pandemic led to negative impact onemployment and business opportunities on the economy. We are happy for being successful toretain our clients as well as employees which definitely resulted in overall growth of thecompany and the people associated with it. Work from home practice has been managedsuccessfully. During the year the employee head count increased from 80 to 250 employees.
Covid pandemic has increased the acceptance of global delivery model with smoothtransition into virtual framework of client management project development and delivery.
Currently 100% of the workforce is working from home. The work from anywhere model hasled to higher productivity. In work from anywhere model margin % has gone up as costlevers of extra cyber security and equipment costs is getting offset by even higherbenefit from lower travel and physical space costs.
The financial benefits arising out of work from anywhere model had been extended toemployees in terms of regular annual appraisals and to Clients by providing more resourceby conducting the hiring drive. This appraisal cycle in spite of general business stressin IT sector due to Covid crisis is testimonial to company's strong track record ofdelivery in past and confidence for future growth.
Major milestone; Listing on National Stock Exchange: The Company launched IPO inmid-2020 and is now listed in the SME Platform of National Stock Exchange (NSE) it is oneof India's Largest Stock Exchange platforms with a nationwide presence. The response onthe IPO was very overwhelming. Even in the tough situation of a pandemic induced lockdownthe company easily fulfilled all the compliance and documentation requirements. We arevery thankful for the support and guidance provided by the Merchant Banker (Shreni SharesPvt Limited) and NSE representatives. This Successful IPO is one of the Biggestachievements in the life time of the Company.
Any organization needs to constantly weigh the needs of different stakeholders. Ksolveshas adapted strategy to balance needs of all stakeholders and minimize conflictperceptions between shareholding and non-shareholding ones such as customers vendorsemployees and the communities in which Ksolves operate. To do so pre-defined operatingprinciples as well complete transparency on outcomes is a must. Highest form of corporategovernance is underlying of all things Ksolves does.
The SME Listing has helped the Business in many ways and taken the trust of Ksolves'Stakeholders to the next level some of the components includes:
Credibility in front of Client: Ksolves as listed company has taken its governancerequirements to the next level The Clients finds it association with Ksolves moretrustworthy on the part of Data Security Privacy Policies Management StabilityTransparency of Company's Financials other Company's Policies Code of Conduct andProcedures.
Senior Resource Hiring: Senior and Highly experienced resource hiring is now easier forKsolves. Senior level resources are more attracted to work with a Listed Company. ProcessGovernance: Being Listed on NSE Emerge the Company has induced the sense of processgovernance the company consolidated and standardized its management tasks and servicesto ensure that each project is executed properly and in accordance with what is expectedby both management and clients.
Elevated Corporate Governance: The Board of the Company has now expanded. IndependentBoard provides timely valuable suggestions in view of Company's growth and business.Corporate Governance of the Company has now turned to a higher side to ensure norms ofSecurities and Exchange Board of India (SEBI) and National Stock Exchange of India Limited(NSE) are met.
More Tech Partnerships: On the basis of Credibility in front of StakeholdersTransparency earlier provided quality services Good business relationships the Companyhas also stepped into different platforms for tech partnerships like Salesforce Magento(Adobe) and Odoo.
Financial Growth: If discussed about the financial side during the financial yearunder review company's consolidated revenue counted 178.47% higher at 28.22 than entirelast year that was 10.13cr. As on 2020-21 the company maintained high growth trajectoryand showed 178.47% growth over last year& base in these difficult covid times.
The year ended successfully for the company adding on to customers employee headcount revenue profit and no. of projects as well.
I would like to take this opportunity to extend my gratitude and sincerely acknowledgethe trust and support that the company has received throughout the year 2020-21 from everystakeholder such as all our Ksolves employees with their unfaltering loyalty to businessethos of Ksolves the prestigious set of Independent Directors with their invaluablegovernance inputs our most valuable shareholders and ever faithful clients along withbusiness patrons and the same is one of the biggest reasons why the company isconsistently sustaining and progressing ahead during the challenging times of pandemic.
We are actively laying out our plans for the next phase of growth.
With this statement full of hope and positive spirits I hereby place before you all theAnnual Report of the company for the financial year 2020-21 for your kind perusal.
Please do take care of yourself and your family and stay safe.
Wish best wishes
Sincerely Ratan Kumar
Chairman & Managing Director