I have pleasure in presenting to you that our Company had verysuccessful year and had performed very well enhancing and strengthening the its identityby exploring new technologies and continuing efforts to drive product innovations in thecore market areas with aim to achieve newer heights.
A key milestone was achieved last year as our Company was listed on theSME NSE platform through enduring -cated efforts. Our esteem was enhanced by display ofthe faith of shareholders who oversubscribe our IPO. It was indeed very heartwarming eventwhich further inspired us to work harder for achieving more goals. I immensely value yourtrust and assure you that we will all endeavor to live up to the expectation and faithimposed.
In a significant achievement on financial side I am happy to sharewith you that our company met expectations of cross -ing the target line by recordingsales growth by 29.85 % over Rs. 78.94 CR in FY 2017 to Rs. 102.50 CR in FY 2018. This wasachieved through enduring efforts and newer brand additions which reflected in the 8.51 %growth of net profit from Rs. 4.43 CR in FY 2017 to Rs. 4.80 CR in FY 2018.
Referring to our industry and as you are aware that the digitalrevolution excludes no one and nothing from its embrace. We are engulfed in the timeperiod of the history of humanity when advances in technology and innovation are gatheringmomentum at an unprecedented pace. We have recognized that at a time when the domesticmarket conditions started showing signs of revival it would be prudent to consolidate andstrengthen our capabilities -nities which may prop up in Indian scenario. I expect thatour Company could be benefited to a large extent helping us in spreading and expanding togreater areas.
As you all are aware the technology is changing at a rapid pace beyondany one's imagination. The IT industry provides footing for most of the changes that worldis experiencing in day to day life today. Obviously the future is in digitalcollaborative and global connectivity. Most of the innovations are happening on the userexperience side with adaption of newer technological evolutions.
As more and more products with advance technology roll out technologypartners have opportunities for execution of brand vision at ground level.
Our vision of "Making Human Life Easy" has ledus to constantinnovationsin technology space. At this stage our Com -pany is well placed to serve thedemand for businesses to business (B to B) business to customers (B to C) with new IoTenabling solutions. However our focus remains to provide solution for Smart ComputingDevices & Virtualization Smart & Digital Classrooms GPS & Telematics andRetail IoT.
The wide spectrum of products offered by multiple vendors helps us toachieve economy of scale and providing custom -ers a single sourcing point. Going aheadwe remain focused on both domestic and international markets. I wish to state that we areIntel's Platinum Partner Named Partner for Microsoft and have partnered with manyrenowned global and fortune 500 companies. I am delighted to share that our Company hasbeen awarded with Intel IoT Group Partner Performance Award in 2017. This has helpedus in delivering with consistent performance.
Ours is a broad-based distribution model which comprises of multipleproducts and multiple brand strategy. The focus is always to capture sizable market sharein each of the product category. This to help us making our offering a complete package toour channel partners. It also helps in spreading our market risks arising out offluctuation in the market shares of various brands besides helping us to achieve economiesof scale.
Today we have a thorough understanding of what is happening in thetechnology market with a keen sense of how we must respond and the action we must take tomake a tangible difference. We have gone through turbulence but the resilience of thecompany has fathomed through and we are now in comparatively safe and stable space. OurCompany's growing industry where the demand for design and technology services continuesto expand. Consumers are demanding simpler user friendly meaningful experiences fromproducts and services. Thus businesses will need to humanize the complexity of underlyingtechnologies and make them easy and simple to use.
model and intend to keep improvising further withOverthelastcoupleofyearswehaveplugged gaps in our operating objective to enhance ourreputation as a one-stop shop. We recruited more professionals (accountants sales andservice teams) to cater to needs of the growing business.
We are set to consolidate enhance and improve up on our strengthsvalues customer orientation brand and commit -ment to learnings. We will endeavor forcontinuous improvement improving of focus on partnering with stakeholders in a way whichis unique to us. We are prepared to promise our clients in providing all support in"Making life easy" and what will unfold next is limited only by our imaginationour focus on customers the execution of our strategy and our shared ambition to remakeour world and the way we live and work in it. I would like to thank entire team atPanache DigiLife' family for their efforts drive and dedication. I would also liketo thank our shareholders and stakeholders for the trust they have placed in us whichfurther drives and encourages us to achieve our targets and walk the extra mile.
Amit D Rambhia
Panache Digilife Limited