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Mindpool Technologies Ltd.

BSE: 535155 Sector: IT
BSE 05:30 | 01 Jan Mindpool Technologies Ltd
NSE 05:30 | 01 Jan Mindpool Technologies Ltd

Mindpool Technologies Ltd. (MINDPOOL) - Chairman Speech

Company chairman speech

Dear Stakeholders


Mindpool is powered by the most skilled experienced and certifiedprofessionals who deliver innovation. We have worked with some huge clients that havealready made their place in the list of fortune 500 companies. We continue to target Ourvision i.e. to deliver innovation in the finest form to business leaders across the globe.We also aim to build future-proof solutions that will help the organizations growfinancially gain better brand value and hire strong talent. Considering this uncertaintyof COVID this letter is presented into sections; macroeconomic challenges companychallenges opportunities and strategy.

Mindpool has implemented the Business Continuity Plan which is designedto allow our people processes and technology to operate effectively in extraordinarycircumstances (including global pandemics). Mindpool has a progressive financials and theresources necessary to endure periods of market stress. With the situation evolvingrapidly we believe it is essential to remain in regular communication with our clientsand shareholders. Our client service and investor relations teams are available to answerquestions and address client and shareholder concerns.

Like many of you we are closely monitoring the spread and impact ofCOVID-19 (coronavirus) around the world. This is first and foremost a health crisis andour thoughts go out to those who have been directly affected by the virus in theircommunities and to the health care workers who are on the frontlines in managing it. As aglobal company operating in more than 80 markets we're also actively trackingCOVID-19 and taking measures to protect our clients employees and business. Our focusas always will be on helping customers achieve their business objectives and milestoneswith our robust IT staffing and IT consulting business. We'll do this by keeping ouremployees safe and healthy our business running and staying focused on our mission.

The macroeconomic challenges caused by the Pandemic for financial year2021 are substantial. During the year we made one acquisition on 7th November 2019 of S ATech Software India Pvt. Ltd which is in IT staffing and Project Consulting division thathas delivered 19.53 Cr in revenue. Our overall consolidated performance is of 38.97 Crrevenue which resulted in 72.53% YoY growth in revenues. Net Profit Margins recorded atRs. 68.20 Lakhs on consolidated basis. Challenges encompass with the changing trend ofworkstyle across the globe like all companies will face substantial challenges in thecoming year. But we will use these challenges to aim high and look far.

We hope that you and your family stay healthy and safe. We remaincommitted to our employees and clients throughout this challenging period. We haveweathered many such periods in the past and we are confident that our depth of experienceand dedication will see us through. We are committed more than ever to being ContrarianInnovative and Aligned.

Wish us Luck.
Ritesh Sharma
Chairman & Managing Director