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Sasken Technologies Ltd.

BSE: 532663 Sector: IT
NSE: SASKEN ISIN Code: INE231F01020
BSE 00:00 | 01 Dec 1085.25 13.50
(1.26%)
OPEN

1100.00

HIGH

1113.95

LOW

1076.25

NSE 00:00 | 01 Dec 1085.90 12.70
(1.18%)
OPEN

1075.25

HIGH

1116.65

LOW

1070.05

OPEN 1100.00
PREVIOUS CLOSE 1071.75
VOLUME 1140
52-Week high 1528.95
52-Week low 658.00
P/E 13.17
Mkt Cap.(Rs cr) 1,633
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 1100.00
CLOSE 1071.75
VOLUME 1140
52-Week high 1528.95
52-Week low 658.00
P/E 13.17
Mkt Cap.(Rs cr) 1,633
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Sasken Technologies Ltd. (SASKEN) - Chairman Speech

Company chairman speech

Message from Chairman

 

I am overwhelmed by the resolve to be tenacious flexible agilecapable and service oriented on the part of every Sasian despite the unprecedentedchallenges faced due to the global pandemic. A true ‘SasCan' spirit. Thisprovides me and the management team the motivation to lead & deliver with confidence.

Dear Shareholder

It is often said that climacteric events happen once or maybe twice inevery century. One such defining moment is the ongoing COVID-19 pandemic. As I look backover the last twelve months one thing is clear - those who are resilient and have theself-belief will chart out the pathways to see the positive and emerge stronger. ForSasken this ‘can-do' spirit has kept all Sasians motivated. Our reigning mottohas been to adapt be agile and adopt innovative methods of delivering value.

I am delighted to inform you that we have proactively and seamlesslytransitioned to the new normal. Your Company was amongst the first to achieve close to ahundred percent transition to work from home/anywhere. This is a testimony to our forwardthinking practises use of technology coordination & teamwork and well-orchestratedenablement.

Our cross functional Emergency Response Team has been efficiently andeffectively enabling the work from home transition necessitated by the pandemic.

Our first priority was to ensure the safety and well-being of employeesin a proactive and transparent manner. This laid the foundation of creating a safeworkplace for business continuity. Secondly we emphasised on the creation of an effectivetwo-way communication channel. This platform got together all stakeholders and provided areliable & dependable means of coordination and dialogue whilst eliminatingmisinformation. Thirdly our goal was to embrace the new normal and build resilience atall levels. This included our risk assessment and preparedness which helped us anticipateand respond to the crisis as it played out. Fourthly our business recovery andforecasting methodology helped build a predictive model that kept it business as usualdespite a vastly decentralised mode of work.

Our focus in the current financial year has been to embark on abusiness transformation with the aim of driving growth that is characterized by longerterm annuity contracts of reasonable scale. This process has begun well and will remainour focus in the coming financial year by which we expect to have internalised thistransformation. As part of this business renewal we have a two-pronged approach to growengagements with existing customers and win scalable business from new customers. We aremaking significant investments to strengthen our global sales teams who will spearhead ourengagements with both our marquee and prospective customers with a single minded focus tomove our relationships to the realm of strategic partnerships. As before we recognisethat our engineering capabilities in Finland in the areas of hardware & RF designincluding full product development is our key differentiator. We are making concertedefforts to integrate these capabilities and bring to our customers turnkey productdevelopment services.

To achieve our growth objectives we are strengthening our front lineclient partners and solutions engineering teams at both the leadership and operationallevels. Our portfolio of offerings are being enhanced and in parallel we are creatingnewer offerings in response to market needs. These initiatives will allow us to offer acompelling value proposition and help scale our business. From the lens ofoperationalising these strategies we are creating a sense of urgency and have put in placean environment where everyone internalises that we are firm on the ‘need toperform'.

Our response to the challenges in our business environment has been oneof maintaining fiscal prudence by rigorously monitoring our performance both on revenueand cost fronts. However being a company that is committed to‘people-centricity' we ensured that no jobs were lost on account of theuncertain environment in which we operate in.

DIVIDEND DATA

The Board of Directors has recommended a final dividend of Rs.15.00 perequity share for the year ended March 31 2021. The payment is subject to approval ofshareholders in the ensuing Annual General Meeting of the Company. Once approved thecumulative dividend for the year will amount to Rs.25.00 per equity share (includinginterim dividend payment of Rs.10.00 declared on October 21 2020). I trust that you wouldbe happy to note that your Company has maintained its track record of paying dividendssince its listing in 2005.

We remain cautiously optimistic and are mindful that we continue tooperate in a Volatile Uncertain Chaotic and Ambiguous environment also known as theVUCA world. The market recovery is not uniform across geographies and verticals which weserve; in short the environment we operate in presents us with a mixed bag. We willcontinue to be vigilant in terms of monitoring & mitigating risks and sharpen ourbusiness and delivery processes to be able to handle exigencies should they arise. We areconfident that we have built a resilient organisation backed by sound managementprinciples and a commitment to upholding the highest standards of ethical conduct &corporate governance. My management team and I wish to thank you for the continuedconfidence that you have placed in us over the last three decades and look forward tobetter times ahead.

Thanking you
Rajiv C. Mody
Chairman Managing Director and CEO

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