ONTRACK SYSTEMS LIMITED
ANNUAL REPORT 2011-2012
The business scenario in India and other parts of the world where we
operate continues to be very challenging. Despite the uncertainties
your company has managed to post consolidated revenues of Rs. 1,125.86
million and a PAT of Rs. 20.01 million.
Despite a healthy order book position of your company, some of our
customers deferred execution of projects due to negative market sentiments
and various other factors. Though our Indian operations have shown top line
growth, payment cycles in India continues to be very sluggish and margins
are under severe pressure due to intense competition. Our overseas
operations in 2011 -12 have not shown signs of improvement and we have not
taken up new initiatives in the overseas markets due to the recessionary
trends that are still prevailing. Operational costs have gone up
significantly which has forced us to take a fresh view of the business and
the service and product offerings that we deliver to our customers.
People and talent continue to be the core drivers and assets of our
business. Our employees have once again shown tremendous commitment towards
the customer and the company. We are strengthening our employee strength by
recruiting new professionals and we are well prepared to take up the
challenges in the market place.
Your company is now 24 years young and as we enter the silver jubilee year,
we once again reiterate our commitment to deliver value to our
shareholders, customers and employees.
I take this opportunity to thank our members, directors, customers,
vendors, employees, partners, bankers, advisers, government agencies and
all our well wishers for their continued support. I look forward to your
continued guidance and support in the years to come.
With warm regards,
Chairman & Managing Director
Date : 13 August 2012
Place: Kolkata, India.