COMMITTED TO GROWTH AND LEADERSHIP
Mr. Ravindra Kishore Sinha Founder and Chairman
India now soars higher in the global landscape as the sixth largesteconomy with a USD2.6 trillion GDP. The country's growth is driven by structuralreforms substantial investments in infrastructure and growing foreign direct investments.
The economic and institutional reforms of the Government of India wereendorsed by Moody's investor services as it raised the nation's sovereignrating for the first time in 14 years. The country's ease of doingbusiness' has also seen elevation on the ratings of the World Bank.
FY18 also saw the rollout of the Goods and Services Tax (GST) thelandmark indirect tax reform since Independence. GST is expected to positively contributeto economic activity and fiscal sustainability by reducing the cost of compliance withmultiple state tax systems; and expanding the tax base by bringing more informal activityinto the formal sector.
Against the backdrop of such exciting times I am happy to share thatwe went public with a successful Internal Public O ering (IPO) (the issue was subscribedover 7 times and raised `3622.50 million). In India we are the first company in thebusiness services space to go public. The IPO has enabled us to recapitalise our balancesheet and prepare us for the next phase of organic and inorganic growth. I thank all mycolleagues investors customers and our people as each has had a role to play in takingSIS to where we are now.
The IPO is only one of the many milestones during the year. We havecrossed `20000 million revenue in India Security `30000 million revenue in Australia;and `58000 million in overall revenue. The facility management segment has emerged as astrong growth centre within SIS.
These milestones make FY18 a momentous year. It gives me immense prideto share that a small entrepreneurial venture that began operations over three decades agohas progressively strengthened its foundation and spread itself like a huge banyan tree toprovide livelihood to hundreds of thousands of families.
We have also crossed the 170000 employee mark and we are steadilyinvesting in training programmes to provide each employee a viable career ahead of them.Many security personnel in our Company have taken senior branch and regional roles in SISa huge confidence booster for our training and career development initiatives.
We are making impressive strides in technology in running ouroperations customer service and delivery. Although the impact of technology will befar-reaching we should treat it as an opportunity and not as a threat. Technology offersus the potential to increase our productivity while also improving the efficiency of ouroperations. I urge each of our employees to use technology applications such as iOPS andSalesMaxx to become more productive and service the customers better. We also need to beforward-looking in anticipating business changes in each of our verticals and remainconstantly ahead of the market in designing our solutions. We have performed encouraginglyin FY18; and have made impressive strides towards our Vision of becoming the mostpreferred partner of our clients in Security Services Facility Management and CashLogistics by 2020. This will also make us a player to reckon with across geographies. Ourglobal ambition will require us to demonstrate the same kind of work ethics riskappetite quality consciousness care and concern as in the preceding few decades.
I am confident that the culture of SIS that has been carefully nurturedover the decades will come to the fore in capturing the opportunities before us.
On behalf of the Board I would like to thank all our stakeholders forthe trust and confidence that you have invested in us. We believe that the key blocks arein place for our future success and we have the potential to repeat our consistent growthin India as well as in Australia.
Mr. Ravindra Kishore Sinha