Letter to Shareholders
Dear Shareholders,
We are in the middle of extreme economic volatility. Be it Chinese turbulence, Crude
oil price crash, terrorist attacks, Brexit or Rexit (Raghuram Rajan’s exit), each
such event adds to the uncertainty to the overall business confidence. Such situations
make it very difficult to plan a long term strategy and also to stick to the existing
strategy. Amidst this uncertainty and chaos, India has emerged as a bright spot. India is
growing at a healthy rate with a stable government at the centre. Further, the recent
passing of the constitutional amendment for Goods and Services Tax (GST) has brought
optimism in the India’s business circle. The information technology sector is
expected to remain under stress due to the global uncertainty and shrinking IT budgets of
the Companies. This shall put a downward pressure on the overall margins of the Company.
The financial year 2015-16 was a difficult year for the Company but managed to reduce out
operating loss. It is due to the untiring efforts of the management and employees that the
company has been able to improve efficiency. The overall business situation is still
challenging but the growing number of smart phones, increasing penetration of internet and
falling data tariffs will boost the market for mobile value added service providers.
Various initiatives by the Indian Government like Smart Cities and Digital India are very
positive for the sector as a whole but it is equally important for us to capitalize and
make most of these opportunities. Your company is taking necessary steps towards
increasing its digital presence and increases its product offerings. However, the major
focus would be towards client acquisition and improving operational efficiency.
Thank You for your continued support.
Yours Sincerely,
Sd/-
Srikrishna Bhamidipati
Managing Director