'They always say time changes things, but you
actually have to change them yourself.'
Dear Shareholders,
It is my privilege to write to you and present the Annual
Report for FY23-24.
I hope this letter finds you safe and in good health.
In FY 2024, your company has delivered a strong
performance. I am pleased to share with you that your company has crossed annual revenues
of Rs. 6428 Lacs, a growth of 108%, over the previous year. With relentless focus on
operational excellence, this growth has come at an operating margin of 34%. The company
reported a Net Profit of Rs 1909 Lacs in FY 23-24.
The order book for FY23-24 has been healthy because of our
strong collaboration, client relationships and engagement. Employee retention continues to
be excellent and above benchmark levels in the industry.
Your Company has introduced many high-quality products to
modernise the global payment space, which are getting traction in India and Global
Markets. The Investments worth over Rs 100 crores made over last seven years, which were
charged to Profit & Loss Account, are yielding results.
Your company continues to invest in upskilling its talent
base of its employees. Employees are actively leveraging experiential and personalized
learning on a wide range of emerging technologies. Your company acknowledges the
relentless effort of its management team, employees, associates and all stakeholders in
helping your company into a successful transition as a product led company.
On behalf of the Board of Directors of the company, I want
to thank you for your continued trust, confidence, and support.
Warm regards,
R.Ramaraj
Chairman