Letter to Shareholders
On behalf of the Softsol Board of Directors I am happy to welcome you to the 27thAnnual General Meeting of your company. Thank you for your presence here today and foryour continued support and goodwill that is critical to the success of our company.
The Indian IT industry is expected to witness a10-12% annual growth. Over the pastcouple of years the Indian Government has been constantly stressing on the importance ofproviding online services and the resultant benefits. As a result the Digital Indiaprogramme was launched and several government services are now being transformed online.The initiative is integrating the government departments and the people ofIndia. Theadoption of key technologies across sectors spurred by the 'Digital IndiaInitiative" could help boost India's Gross Domestic Product (GDP) by US$ 550 billionto US$ 1 trillion by 2025.
We are developing futuristic cost-effective and relevant IT processes. As the businesstakes the quantumleap towards Digitization we help them in executing processes andmitigate the risks innate to the transformation.
We will continue to deepen and widen our knowhow to create differentiated andtechnology-enabled processes for our discerning clients across geographies. We willcontinue to work with our clients as strategic partners in their journey towardstransformational growth in a largely volatile business landscape. Innovation will remainat the center stage of our global operating strategy to deliver sustainable valuegoingforward.
During the year under review your Company recorded consolidated revenues of Rs 38.10crores and achieved net profit of Rs3.53 crores for the year.
We hope to review the company situation and determine the best course of action tocontinue to find ways to improve our financial performance and offer liquidity to ourshareholders. We will make conscious efforts to focus on IT market in India and also otheropportunities available.
Before I end my note I would also like to thank on behalf of the Board of Directorsand Management-our shareholders customers and business partners for their loyalty andsupport. I would also like to express our gratitude to our employees for their trust.
I am confident that our company will do well in the coming years.
Srinivas Rao Madala