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Mastek Ltd.

BSE: 523704 Sector: IT
NSE: MASTEK ISIN Code: INE759A01021
BSE 00:00 | 14 May 1910.35 29.55
(1.57%)
OPEN

1900.00

HIGH

1928.00

LOW

1795.00

NSE 00:00 | 14 May 1910.75 30.15
(1.60%)
OPEN

1890.00

HIGH

1927.00

LOW

1793.65

OPEN 1900.00
PREVIOUS CLOSE 1880.80
VOLUME 25143
52-Week high 2020.00
52-Week low 229.15
P/E 243.67
Mkt Cap.(Rs cr) 4,826
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1900.00
CLOSE 1880.80
VOLUME 25143
52-Week high 2020.00
52-Week low 229.15
P/E 243.67
Mkt Cap.(Rs cr) 4,826
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Mastek Ltd. (MASTEK) - Chairman Speech

Company chairman speech

Dear Shareholders

It is my privilege to present to you the Annual Report of Mastek for the year ended 31 March 2019. This year we have crossed another milestone in our journey and achieved yet another year of consistent and industry leading performance.

Driving differentiation

When considering recent developments there is no doubt that the current technological revolution will significantly disrupt companies and industries globally. At the current pace of innovation employee models and customer expectations are changing rapidly and organisations must put themselves in a position to take advantage of these opportunities. Keeping this in mind at Mastek we have positioned ourselves aggressively and strategically to further differentiate the Company in the new digital world helping the enterprises who engage with us to disrupt rather than be disrupted. Through Vision 2020 we are delivering solutions that enable organisations to adapt to the evolving technological landscape.

At Mastek we understand the momentum of digital transformation and the need to provide our clients with a great experience no matter where or how they interact with us. We recognise the importance of being fully aligned with an enterprise's goals and strategies and the absolute necessity to move quickly to anticipate and support an end-user's needs.

Our delivery performance on digital programs remains the mainstay of Mastek's capability and we have proven our expertise in being able to deliver by executing large and complex transformational projects.

Delivering on Vision 2020

Our consistent financial and operational performance reflect the successful execution of our growth strategy. Under the leadership of our Group CEO John Owen and his Vision 2020 we have systematically transformed Mastek from a traditional IT services company into a global leader in Enterprise Digital Transformation. This clarity has brought welcomed stability and enabled us to respond faster to the dynamic and fluid business requirements that drive the digital agenda. With renewed confidence direction and belief we have remained steadfast in the quest to achieve our vision and believe in our ability to successfully place ourselves against any competitor in the Enterprise Digital Transformation industry.

On the financial front we continue to deliver consecutive quarter-on-quarter revenue and profit growth and our financial performance is now predictable and accretive. Similarly on the operational front we have streamlined and integrated all our resources to efficiently implement our strategies. Going ahead we are in the process of leveraging our balance sheet assets to enable us to support our inorganic growth strategy. Strategically we must continue to diversify our customer base our revenue base and continue to invest in developing our technical competencies. The market for digital will continue to expand and fragment so Mastek must continue to evolve to allow its natural assets of speed empowerment and agility to bring better outcomes for our customers.

Opportunities for Mastek

As the demand for digital transformations in major global economies continues to increase our presence in the UK US and India enables us to support a strong foothold in these high growth markets. Our two primary markets the UK and US witnessed some headwinds during the year. However even though this slightly dampened our business we were able to maintain the overall group growth momentum.

With regards to the US market we are still nascent in this region and are in the process of resetting our business strategy along with the management team. Through this exercise we expect to fuel growth in the US. Our business from the UK market remained predictable despite uncertainties around Brexit. With our diversified risk optimized business model we are successfully enhancing our client footprint across sectors. Moreover amongst our key geographies we are creating a talent pool of skilled labour through various initiatives such as the UK Graduate Program the Deep Blue Project in Mumbai colleges and Charity Hackathons.

Throughout the years with our high standards of corporate governance we have empowered an effective entrepreneurial and prudent management team that has helped drive the long-term success of our Company. Our Board values accountability fairness and transparency in our relationships with all stakeholders and we are committed to inculcating the same ethical culture across the organisation. We also strongly value business sustainability and have actively worked towards incorporating more environmentally favourable practices into our daily operations. We have contributed to society with our small but noticeable steps of reducing our water usage energy consumption food waste and e-waste.

Thank you

Every idea we have every service we develop and every technological innovation is synchronised towards the goal of enabling digital transformation without compromising on our core values. Our capabilities our strategies and our financial strengths have been our guiding force throughout the year. With great leadership and an empowered workforce I am confident in our ability to execute the next phase of our growth.

I would like to thank our investors our customers our people and our society who have always trusted and supported us in endeavours dedicated to Mastek's success. Let's all look forward to a FY 2019 20 full of opportunity.

Sudhakar Ram

Vice chairman and managing director

   

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