Annual Report 1999-2000
Last year saw STG making remarkable progress in the area of its core
competency -- emerging technologies. Emphasis was also laid on maintaining
rigorous standards of quality, both in our products as well as services.
The result is for all to see - quantum growth that has surpassed all
expectations as well as boundaries.
As the first step towards globalising its operations, STG has set up a
wholly owned subsidiary in New Jersey, USA. Recently a wholly owned
subsidiary has been set up in Australia as well. Together they will enable
us to tap the immense potential of software opportunities available in the
Globalisation has again been the focus on the software education front.
First two training centres are already operational in Abu Dhabi and Sri
Lanka, and centres in Bangladesh and Dubai will soon be functional. But
this is just the beginning. This year many more training centres are
planned in various countries.
As you know, technology has always been the backbone of STG, the bedrock of
its outstanding success. Last year the thrust was on entering newer hi-end
technology areas. With an emphasis on providing web-enabled applications
combined with e-commerce and WAP. The design for a B2B Digital Trade portal
was initiated, with an aim to help small and medium enterprises trade on
the web. The portal has now been launched and is receiving excellent
response. We have also strengthened our foothold in software consultancy by
providing world-class turnkey solutions to many corporate giants. To meet
the growing demand of our international clientele, STG has set up an
independent off-shore facility, which is fully equipped with the essential
infrastructure to handle large software projects. And our endeavors to
maintain high quality standards have borne us rich dividends. Not only in a
satisfied customer base but also in getting us the ISO 9001 Certifications.
All in all, it was an action-packed year. And the coming year looks even
more promising. Aggressive acquisition of software companies within India
and abroad will be the key of our growth strategy. To implement this, we
are planning to expand our authorised capital to Rs. 20 crores. We have
also formed a high level committee which will carry out a thorough
evaluation of each acquisition. On the global front, we will concentrate on
tapping business opportunities in developed countries of Europe and the US,
by acquiring only those companies that are focused on emerging technologies
or are targeting a specified vertical segment. This will enable STG to move
up the value chain, and provide the benefits of emerging global software
technologies to our clients.
With all these plans on the anvil, we are looking at over 100% growth in
revenue and profitability in the coming year!
We are definitely on the fast track. And with your support, I am sure we
will continue to dare. And continue to dream.