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SANKHYA INFOTECH LIMITED
ANNUAL REPORT 2010-2011
CHAIRMAN'S REPORT
Dear Shareowners,
It is an honour and a moment of great pride for me to serve this
fascinating organization as its third Chairman. My distinguished
predecessors have made exemplary contributions to the growth and provided
leadership during various turbulent times. While thanking you for the
support that you have so generously extended to the previous Chairmen, I
urge you to guide my team and me in our task to build a much stronger
Sankhya now.
'Tough times don't last but tough men do' is an apt statement that
describes the leadership team of your company. Despite the pain, the
company had to go for through three successive years because of the
problems associated with the Income Tax and the uncertainty in the global
economy; we successfully stood the severe test it had put on our ability to
sustain. We made some mistakes but kept our discipline and charged
ourselves to emerge out of those challenging times.
My parents have themselves seen several challenges in their lives, and have
imbibed the values of integrity, honesty and commitment into me. I take
pledge to serve your organization with strong adherence to these values. I
ask you not to simply trust me, but trust your values, our values, and hold
me responsible to living up to them.
Some opportunities and precious time may have been lost during these three
years, but they could not shake our will, commitment and the ability to
grow the company to greater heights.
I am delighted that the company has emerged triumphantly and has marched
ahead with better performance this year. This performance is all the more
remarkable because our talented team achieved it. Confidently I can say
that the raise of the company has only begun now.
In our pursuit to create a globally reputed organization, I can say with
humility that we are the pioneers in many areas. Your company is the first
company in the world to have launched the web-based simulation for the
Aviation Industry and was appreciated by the US Federal Aviation
Administration. Your company holds the unique distinction of being the
first ever Indian IT company to be able to sell a 'Software Product' to any
American Defense Organization.
The biggest strength that I derived when I took over as a Chairman is the
strong support of its investors. Several of them met me directly to express
their support. As a company, we have been able to emerge stronger only
because of this help from all of you.
This is my first opportunity to be able to reach you. I assure you we will
create an appropriate infrastructure to be in constant touch with you.
One of the major developments of the previous year has been the strategic
investment from HBL Power Systems Limited. We work in similar markets,
sometimes-same clients; however, the biggest advantage comes from the fact
that we can provide collaborative services that enhances the value
proposition to our clients.
Proven reliability of our products at several reputed clients makes us
confident to pursue Business to Consumer (B2C) market even as we target to
expand our footprint in the Business-to-Business (B2B) model.
Your company is expanding its market domains. Recently your company emerged
highly successful in the Banking Finance Securities & Insurance (BFSI)
market by winning the largest bank contract of India from State Bank Group
and a follow on contract from Union Bank of India.
We crossed a major milestone in our pursuit to offer world class Simulation
and Virtual Training products. Your company recently delivered an advanced
simulation product to the Indian Defense forces.
As I said already, we have just begun a new journey now, experiences of our
past mistakes, associations and failures have taught us lessons that we
shall never forget. We will be vigilant and as famous American President
Ronald Regan said, 'To whatever history will recall about me, I hope you
will recall, that I have appealed to your best hopes and not your worst
fears, to your confidence rather than your doubts'.
Sincere regards
N. Sridhar
Chairman & Managing Director.
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