As I reflect upon your Company's performance in the past year I am reminded of howoptimistic we are of our short term goals and yet conservative in our imagination of thepossibilities a decade can unfold. As a custodian of your faith I believe that myenergies always flow from the motivation that the best is yet to come.
A distinctive feature at Sasken is the confidence reposed in us year after year by ourcustomers who seek the expertise we offer to solve complex engineering problems and fullproduct development needs. Our customers' belief in our abilities has motivated us toremain a company that is among the few that is a pure play in product engineering with acomprehensive and integrated suite of digital offerings. Our sectorial focus has beencontinuously broadened due to the increasing demand for our core competencies across allindustry verticals. Hyperconnectivity cognitively enabled systems cloud & computingare the vectors that continue to pervade the world of technology. It inspires the creationof new age products and services which have heightened the quality of human life.Computing & analytics combined with cloud continue to leverage realtime data toprovide insightful & increasingly automated decision making support systems. Digitalengineering forms the core part of the product development agenda from productconceptualization to commercialization.
In the current year we have executed a number of programs in the arenas of automotiveelectronics industrials communication & devices and semiconductors. We havesuccessfully delivered a number of digital programs customized specifically for theautomotive and industrial verticals. The range of our work for the automotive industryspans the development of integrated cockpit systems support for after market safetyproducts precision tracking and enhancements of telematics applications & services.
In the industrial segment our customers have leaned on us to accelerate deployment ofconnected and modular manufacturing systems. The constant threat of cyber attacks havepropelled enterprises to seek our active support in securing their entire suite of devicesfrom vulnerabilities/ threats. Our custom built KenSec platform provides streamlinedsecurity management solutions for a vast majority of the rugged enterprise devicemanufacturers.
Android continues to pervade all new products and market segments and is the fulcrumaround which innovative services are delivered. We capitalize on our strong & decadelong experience in Android sterling partnerships with industry's leading semiconductorvendors and other ecosystem partners to catalyze the launch of products across allverticals your Company serves in.
MILESTONES & ACCOLADES
It is with pride that I would like to highlight the significant milestones andaccolades received by your Company in the year past.
We have entered into a partnership with Qualcomm a global leader in chipset platforms.This partnership envisages your Company as being a preferred partner to support theircustomers in the adoption of the 'Qualcomm Snapdragon Automotive Cockpit' platform and'Qualcomm Automotive Wireless Solutions'. In a similar development MediaTek believes thatour extensive expertise in their chipset platforms would be "a great addition toenabling customers innovate and develop products across the home and industrialsegments."
Your company has been awarded a 'Special Commendation' by the committee of the 'GoldenPeacock Award' for Corporate Social Responsibility for the year 2019. The CSR Committeebelieves that sustainability can only be achieved by a grassroots change in the socialfabric. We endeavour to do this through a focus on women empowerment education financialinclusion for the underprivileged and supporting environmental causes.
Financial Express has selected our Whole-time Director and CFO Ms. Neeta Revankar asthe recipient of 'CFO of the Year Award 2019-20'. Our CFO has been chosen to be the bestamong various service companies with a turnover under Rs. 500 crores for delivering thebest financial performance in the preceding three years. The criteria used to evaluate ourperformance included profit after tax current ratio debt-equity ratio and return onequity.
It is always gratifying to find an external validation of one's strength. Ourconviction that we are indeed a leader in the product engineering and digital servicesspace has been consistently validated by renowned independent consultants. Your Companyhas been ranked by Zinnov (an independent research company) to be a leader in the small& medium enterprise category for product engineering and digital services. Zinnov'sranking criteria considers the depth and maturity of our specialization innovationquality of customers and number of verticals serviced. In addition we have been rated asleaders in the automotive and semiconductor segments. We are also ranked amongst theestablished players in the industrials and consumer devices segments. The Everest Groupfeatures Sasken as an aspirant in the Application Transformation Services for the secondyear running as part of their Digital Services PEAK Matrix assessment and MarketTrends 2020.
During the year your Company paid two interim dividends of (a) Rs.5 per equity sharein November 2019 and (b) Rs.50 per equity share in March 2020. The total dividend for theyear ended March 31 2020 was Rs.55 per equity share of Rs.10 each. I trust that you wouldbe happy to note that your Company has maintained its track record of paying dividendssince its listing in 2005.
I am cognizant of the fact that we could have perhaps grown our topline more than wehave. However we strongly believe that being profitable on a consistent basis takesprecedence.
I am excited that we are at a very opportune moment in what is described as aninflection point in a technology S-curve. Going forward we expect to profit from ourservice maturity and expertise which will see greater adoption as the technologies we workon reach the accelerated growth path. We are confident in our abilities to return togrowth and trust that you will continue to repose your longstanding confidence in us.
The uncertainties in the business environment due to the COVID-19 pandemic will impactus as it does every other business. We have swiftly responded by putting in place businesscontinuity measures to keep work as usual and honour both customer commitments as wellensure employee well-being. My team and I are monitoring the situation to identify risksand put in place suitable mitigation mechanisms to safeguard our business. We areconfident in our abilities to return to growth as the macro-environment stabilizes.
Rajiv C. Mody
Chairman Managing Director and CEO