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Reliable Data Services Ltd.

BSE: 535020 Sector: IT
NSE: RELIABLE ISIN Code: INE375Y01018
BSE 05:30 | 01 Jan Reliable Data Services Ltd
NSE 00:00 | 24 Sep 26.50 0
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Reliable Data Services Ltd. (RELIABLE) - Chairman Speech

Company chairman speech

Dear Shareholders

At the outset I on behalf of entire Reliable Family take this opportunity to thank all of you sparing your valuable time for this occasion. Further it gives me immense pleasure to present the 18th Annual Report of Reliable Data Services Limited.

Last one year has been very eventful for the country both from the point of view of economy as well as politically. Now we have stable govt for next five years which is positive sign for the economy however due to various factors both internal and external the economy is going through a rough patch. As a result demands are slowing and affecting all sectors of economy and service sector is also impacted. On a positive note the Govt taking these issues very seriously and many steps are expected very soon and the same shall bring some positivity in the economy.

As all of you know that our country is going through transitional phase wherein so many transformational changes like demonetization implementation of GST and other reforms have been undertaken by the Government in sequential manner. As a result some aftershocks have been felt this year also accordingly enterprises are trying to adjust with the same and many of them are struggling also. We are pleased to inform you that company has been able to successfully negotiate the challenges and register a decent growth.

At this point in time I have the pleasure and privilege to share with you the highlights of the year's performance and Outlook for the next Year as mentioned below:

 Our total revenue for the year 2018-19 was Rs. 2747.64 lacs as compared to Rs. 2553.14 lacs in the previous year i.e 2017-18 which represents the growth of 7% in the Standalone Financials.

 As per the Consolidated Financials we register the growth of 7.20% as compared from the turnover of Rs. 4356.84 lacs in the Previous Year and Rs.4670.75 lacs in year Current Year 2018-19.

 Our Profit before tax was Rs. 327.54 lacs as compared to Rs. 324.00 lacs in the previous year represented the growth of 1.09 % and altogether the profit after tax was Rs. 241.57 lacs as compared to Rs. 232.12 lacs in the previous year represented the growth of 4.07%.

 Similarly as per the consolidated Financials Our Profit before tax was Rs. 694.30 lacs as compared to Rs. 688.10 lacs in the previous year represented the growth of 0.90 % and altogether the profit after tax was Rs. 467.08 lacs as compared to Rs. 433.66 lacs in the previous year represented the growth of 7.71%.

In these testing times growth have been very difficult to hold and we are pleased inform you that your company has been able to manage the same due to better cost control and synergizing the operations of intergroup companies.

To take care of the future growth prospects your company had come up with some new business proposals. Few of these have fructified and taken shape and others are under consideration and would be worked upon once the market conditions are in better shape. A status report on those proposals are as below :-

 Comprehensive SME Distribution Channel both in goods and services.

Current Status

Under consideration

 Travel Payment & Taxation solution sales.

Current status

Travel solutions started payment and & taxation solution is still under consideration.

 Help at Homes & Careguru are our forward looking ventures.

Current Status

Business is still work in progress.

 Few international business prospects are expected to take off.

Current status

Few new international business have started but shape would be clearer in forthcoming financial years.

 In domestic businesses company is expecting good growth from southern market.

Current Status

New businesses have started coming in and more business is expected in forthcoming financial years.

Finally I am thankful to all our Stakeholders our Bankers our Investors our Vendors and most importantly our customers for their trust and faith. I must acknowledge huge contribution from entire team of Reliable Group i.e. not only from the flagship company but also from the subsidiary and associate companies who push their boundaries rise above challenges and leave no stone unturned to achieve consumer satisfaction.

With Warm Regards

Sanjay Kumar Pathak

Chairman.

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