PENTAGON GLOBAL SOLUTIONS LIMITED
ANNUAL REPORT 2000-2001
MESSAGE FROM THE CHAIRMAN
9th August 2001
It is my proud privilege to report to our family of shareholders on the
further progress made by our Company during the financial year 2000-01.
In my last year's address to you, I had stated that our goal is to become a
significant player in the field of IT education and software development. I
am happy to note that during the year, all-round progress has been made in
this direction and a solid foundation has been laid for a steady growth in
the years to come.
The Software Development Center in T. Nagar, Chennai that we took up last
year was completed in September and became functional from October 2000.
Apart from state-of-the-art facilities for software development and web-
based jobs, we have a fully equipped multimedia and graphics department
that can handle work in 2D & 3D animation, etc.
To expand operations, accelerate growth and establish contact with clients,
we have opened offices almost covering the entire globe, viz. US, Middle
East, Singapore, Malaysia and Botswana, besides a joint venture operation
This year marks a humble beginning in our efforts to maximize shareholder
value. Accordingly, we have decided to pay a modest dividend of 6%.
Besides, we have provided all relevant information to shareholders. We have
adopted standard practices in corporate governance, details of which are
given in the following pages.
There is all-round apprehension that the slowdown in the US economy will
adversely impact the prospects of the Indian software industry. I hasten to
assure our shareholders that the Company has adopted a suitable strategy to
tide over the situation by sourcing business from other countries and
taking more offshore work. Besides, we are concentrating on such of those
domain areas that are in demand.
It is heartening to note that NASDAQ, in a special report on India, has
remarked that our country is emerging as a global powerhouse, moving up the
value chain. Commenting on our achievements, especially in the IT sector,
it has commended that India is an exciting and remarkable story.
Before concluding, I would like to record the yeoman services rendered by
the great visionary, late Sri Dewang Mehta, President, NASSCOM, in putting
the Indian IT industry firmly on the world map. After promoting Indian IT
industry for its cost and quality advantages, he believed the time has come
for India to create original technology which others would follow.
With warm regards,