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Prithvi Information Solutions Ltd.

BSE: 532675 Sector: IT
NSE: PRITHVI ISIN Code: INE700C01013
BSE 00:00 | 24 Feb Prithvi Information Solutions Ltd
NSE 05:30 | 01 Jan Prithvi Information Solutions Ltd
OPEN 1.06
PREVIOUS CLOSE 1.06
VOLUME 441938
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 4
Buy Price 1.06
Buy Qty 2.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1.06
CLOSE 1.06
VOLUME 441938
52-Week high
52-Week low
P/E
Mkt Cap.(Rs cr) 4
Buy Price 1.06
Buy Qty 2.00
Sell Price 0.00
Sell Qty 0.00

Prithvi Information Solutions Ltd. (PRITHVI) - Chairman Speech

Company chairman speech

PRITHVI INFORMATION SOLUTIONS LIMITED ANNUAL REPORT 2011-2012 CHAIRMAN'S REPORT Dear Shareholders, I am happy to bring you the updates on the exciting things that are happening at your company. The strategic transformation project that was started 3 years ago is beginning to take shape. The year 20112012 saw multiple pieces of the new strategic vision falling into place. The results of the strategic transformation project would start to show in the next financial year. The changing economic landscape across the world prompted your company to re-assess its long term strategic targets and goals. Your company chose to undergo complete transformation and strategize our long term goals. Through this process your company has emerged stronger and more resilient. This would not have been possible without the steadfast support that we have received from you and our other stake holders. I would like to thank you for your support and tell you that your patience will pay off soon. With the target of being one of the best integrated Information and Communication Technology (ICT) companies in the world, Prithvi has developed clear strategy and implementation plan for each of the three business units. In IT, your company is transforming itself into a full service IT organization, which can meet all the end to end needs of the customer. The organization is investing in increasing our capabilities to be able to deliver end to end services. This exercise will make your company one of the few mid-tiers IT companies in India and the world with capability to service diverse end to end needs of the customers. Key strategic focus areas for the business continue to be Data - Process - Mobility. In telecom engineering services (TES), your company aims to be the foremost provider of services across the world in multiple technologies including LTE, Wimax etc. The target is to be the integrated provider of telecom engineering services for customers across the world. Our expansion in new geographies such as Middle East and North Africa (MENA) would drive growth in the TES business. Telecom products business would concentrate on orders that would be of higher margin and help in backward integration of our services businesses. This business would become a key part of the Telecom 360 degrees solution. With our sight firmly focused on the future, we have made some tough choices to in the financial year 2011-2012. The year saw your company give up business in multiple projects that did not meet our margin thresholds. On a Y-O-Y basis the consolidated revenue reduced to INR 1378.31 Crfrom INR 1633.99 Cr, a reduction of 15.64%. However, during the same period the profits grew on a Y-O-Y basis to 20 Cr, an increase of 14.46% percentage. The total revenue from IT is at INR 1265.99 Cr and the total revenue from telecom both engineering services and products is at INR 112.32 Cr There have been multiple achievements during the year in customer acquisition and in launching new point solutions that solve specific customer problems. Some of our fastest growing services include managed services, system integration and enterprise performance management. Point solutions such as Responsive Infrastructure management and Unchurn have been received well by the customers. The basket of services being offered has constantly expanded during the year. I am also happy to announce that our conviction in fighting various legal battles on behalf of our share holders has started to payoff. Your company has been able to earn favorable results in those cases. It should put an end to the question marks about Prithvi's sincerity in seeking a legal recourse to fight for the right of our shareholders. The next few months would see a flurry of activity. Your company would be making some major announcements that would have set course for the next stage of growth for the company. I am eagerly looking forward to bring you more good news next year. Regards Ms. Madhavi Vuppalapati, Chairperson & Whole time Director