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One Point One Solutions Ltd.

BSE: 535039 Sector: IT
NSE: ONEPOINT ISIN Code: INE840Y01029
BSE 05:30 | 01 Jan One Point One Solutions Ltd
NSE 11:29 | 27 Jan 12.50 0.40
(3.31%)
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One Point One Solutions Ltd. (ONEPOINT) - Chairman Speech

Company chairman speech

Dear Shareholders

On behalf of the Board of Directors of One Point One Solutions Limited it gives meimmense pleasure to share with you an update on the overall performance of One Point OneSolutions Limited during the financial year 2019-20.

The World Health Organization declared a global pandemic of the Novel Coronavirusdisease (COVID- 19) on February 11 2020. In enforcing social distancing to contain thespread of the disease our offices and client offices all over the India have beenoperating with minimal or no staff for extended periods of time. To effectively respond toand manage our operations through this crisis the Company triggered its businesscontinuity management program. In keeping with its employee- safety first approach theCompany quickly instituted measures to trace all employees and be assured of theirwell-being. Our teams reacted with speed and efficiency and quickly leveraged technologyto shift the workforce to an entirely new 'work-from-home' model. Proactive preparationswere done in our work locations during this transition to ensure our offices and trainingcenters were safe. Our workforce were enabled in a rapid manner to work remotely andsecurely thus ensuring that client commitments were not materially compromised. Severalinitiatives were rolled out to make teams and managers effective while working fromdifferent locations.

For fiscal 2021 we will continue to execute our strategy along the same dimensions.The client market segments we serve are faced with challenges and opportunities arisingfrom the COVID-19 pandemic and its resulting impact on the economy. We believe theinvestments we have made and continue to make in our strategy will enable us to adviseand help our clients as they tackle these market conditions especially in the areas ofdigitization of processes Business Process Management workplace transformation businessmodel transformation enhanced cyber security controls and cost structure optimization inIT. Further we have successfully enabled most of our employees all over India to workremotely and securely - thus achieving the operational stability to deliver on clientcommitments and ensuring our own business continuity.

The Consolidated revenue from operations have decreased slightly from Rs. 15270.88lakh to Rs. 12508.61 lakh decrease of Rs. 2762.27 lakh (18.09%) over the previousfinancial year. The consolidated Profit after tax have decreased from Rs. 1007.34 lakh toRs. (1964.76) lakh. A detailed analysis of the consolidated results forms part of theManagement Discussion Analysis Report provided separately as a part of Annual Report.

The Standalone revenue from operations have decreased slightly from Rs. 14595.89 lakhto Rs. 12508.61 lakh decrease of Rs. 2087.28 lakh (14.30%) over the previous financialyear. The Standalone Profit after tax (PAT) have decreased from Rs. 896.15 lakh to Rs.(1898.53) lakh.

The future of technology services would be focused on providing a Customiseddifferentiator for the customer or to provide innovative solutions for the existingproblems. Success will come to those who adopt an innovation-driven approach and newinnovation-as-a-service model.

Finally I would like to thank our Associates Banks Government AuthoritiesCustomers Vendors and all our shareholders for the trust and confidence reposed in theCompany. We will continuously seek and strive to do good act better and do what is bestfor us and society at large.

Akshay Chhabra

Chairman and Managing Director DIN No.:00958197

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