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Xchanging Solutions Ltd.

BSE: 532616 Sector: IT
NSE: XCHANGING ISIN Code: INE692G01013
BSE 00:00 | 23 Apr 46.00 0.10
(0.22%)
OPEN

45.70

HIGH

46.40

LOW

45.70

NSE 00:00 | 23 Apr 46.40 0.45
(0.98%)
OPEN

45.50

HIGH

46.80

LOW

45.50

OPEN 45.70
PREVIOUS CLOSE 45.90
VOLUME 4530
52-Week high 65.00
52-Week low 33.60
P/E 39.32
Mkt Cap.(Rs cr) 512
Buy Price 46.00
Buy Qty 1180.00
Sell Price 50.00
Sell Qty 102.00
OPEN 45.70
CLOSE 45.90
VOLUME 4530
52-Week high 65.00
52-Week low 33.60
P/E 39.32
Mkt Cap.(Rs cr) 512
Buy Price 46.00
Buy Qty 1180.00
Sell Price 50.00
Sell Qty 102.00

Xchanging Solutions Ltd. (XCHANGING) - Chairman Speech

Company chairman speech

CAMBRIDGE SOLUTIONS LIMITED (Formerly SCANDENT SOLUTIONS CORPORATION LIMITED) ANNUAL REPORT 2006-2007 CHAIRMAN'S REPORT CHAIRMAN'S LETTER Dear Shareholder India has been dominating the market with its sustained GDP growth rate of over 9%. In the last four years, the country has recorded a compounded annual growth rate at 8.5% led primarily by its services and infrastructure sectors. Your Company, Cambridge Solutions took a giant leap forward, building on the foundation it laid last year post the merger of its ITO and BPO services companies. The financial results for financial year 2007 demonstrate not just the confidence of the customers, but the increasing value they derive from the integrated services that are offered and the efficiencies of a well orchestrated, integrated global delivery model. In fact, integration and partnerships have been the hallmarks of our success this year. Your Company's success is reflected in its financial numbers for 2006-07. Its business revenues grew by 24.5% over the previous year. The consolidated revenues of almost Rs 1470 crores for the year ended March 2007 were reported. For a Company that is all of five years old, it has had a great growth trajectory with a compounded annual growth rate of 122% since inception. More importantly, the initiatives that have been taken to grow the businesses by increasing productivity, through globally acknowledged quality processes and cost optimization, are reflected in the profits after tax. Your Company has moved from a loss of Rs 18.6 crores last year to a profit of Rs 65.7 crores in FY 2007, a positive swing of Rs 84.3 crores, an effort worth appreciating. Other quick highlights of FY 2007 performance are that: * The BPO segment, with a share of 68.2%, continued to contribute significantly to the Company's consolidated turnover. * The ITO business segment grew 43.8% year on year, with a share of just below one third in overall revenues. * On a geographic basis, Americas contributed 77.5% of the consolidated revenues followed by Australia at 13.1% and the balance 9.4% from Europe and Asia. * Quite a few million dollar clients were added during the year, taking the total number of million dollar clients to 55. Additionally, in the ITO Services segment, we made a significant decision in FY 2007 to re-focus our efforts on the core high growth global off- shoring business; hence, we decided to sell the onsite centric government vertical, operating under Albion in the Americas. This will allow us to drive more growth in our core Manufacturing and Logistics, Banking, Financial Services, Insurance and Emerging Market verticals which will further strengthen us. Your company is truly global in nature with a footpring in 9 countries across 4 continents and with a multi-cultural, multi-national workforce of about 4400 as of year end. About 60% of the employee strength is located overseas, building and delivering value closer to a blue chip roster of clients which include many Fortune 500 companies. I am proud to share that the BPO business had some outstanding industry achievements, last year. Global Service media and neoIT, a leading offshore outsourcing advisory firm, has for the second year in succession ranked Cambridge as one of the top three BPO companies in the world. We were also ranked by them as one of the top three leaders in human capital management. This award validated the commitment to developing the best and brightest workforce in the industry and one that has contributed significantly to our performance in 2006-07. Further your company has improved considerably on its ranking in the International Association of Outsourcing Professionals (IAOP)'s '2007 Global Outsourcing 100' list, and emerged as the 10th leading outsourcing company based on its executive leadership. The list which appeared in a special section in Fortune Magazine ranked us at 28th last year. These awards and accolades and the customer successes during the year reiterate not just Cambridge's market leadership, but also the success of its onsite-offshore model along with the cross selling strategies between its two business segments. As you are aware, your company operates at the high end of the knowledge and transaction processing outsourcing segment, one that calls for a high degree of skill and vertical expertise. The management feels confident that the building blocks necessary for profitable growth in the future have been laid down. Your company will continue to strive to generate more revenue growth not just from its existing clients but also through increased penetration of its resources, especially the ones at the frontline, to do what they have committed to do, by serving our customers flawlessly, at the appropriate time, and with utmost integrity. It is my belief that such a concerted effort will further enhance profitability and shareholder value for all the stake holders. I thank you for your continued support and faith in your company. Christopher A. Sinclair Executive Chairman and Chief Executive Officer