We deeply thank all our retail and institutional investors for their participation in
our IPO. We take this opportunity to assure the investors of our commitment and dedication
towards value creation. We have infused the net proceeds of the IPO for purchase of IT
hardware and network equipment towards our new development centres in Kolkata and
Hyderabad. We also have plans to service our working capital requirements and general
corporate purposes.
To explain in brief what we are all about – Xelpmoc is primarily a data-led,
Artificial Intelligence and Machine Learning company. We are constantly leveraging our
knowledge and strong foundations in data science, mathematics, statistics and core
sciences. We nurture a robust research and innovation ecosystem to address the emerging
challenges on the frontiers of data-led AI and ML for socio-economic development. Being a
cutting-edge technology company, we foster innovation across all the spectrums. We possess
the ability to serve the masses – particularly those who do not use technology, such
as farmers and truck drivers.
HOW WE PERFORMED
Our total operating revenue stood at Rs 60.9 million, compared to Rs 53.6 million in
the previous year, growing by 13.6% during FY 2019 and reflecting good growth momentum.
EBITDA was reported at Rs (49.8) million, compared to Rs (35.1) million in the previous
fiscal year of FY 2018. EBITDA margins improved from -188.09% in FY 2017 to -65.50% in FY
2018, but declined to -81.82% in FY 2019. Improvement in EBITDA margins in FY 2018 was on
account of an increase in revenue and recovery of other overheads.
In the last couple of years, we have been building our capabilities and product
portfolio to generate revenue in the following period, and hence, we incurred losses. We
also added employees with higher experience and employee costs, which also led to the
decline in EBITDA margins.
PARTNERING WITH CUSTOMERS
At Xelpmoc, we are focused on building the next-generation of technology in Artificial
Intelligence and Machine Learning Space, with a keen interest in Natural Language
Processing & Data Analytics. We help our customers simplify, automate and transform
their businesses.
Innovation has pervaded every corner of our business. We foster innovation across the
spectrum of start-ups, corporates, and the government. All these three verticals present a
strong play for us to serve those relying on new technology for their tech requirements.
Ours is a differentiated tech services play with the ability to identify unique business
models and partner with entrepreneurs. We have an acute vision to partner with and support
start-ups.
TURNING COMPLEX AROUND
Our credo is to find appropriate solutions to serve the next 5 billion world citizens
who do not use technology as much as they could have. And, what differentiates us from
competition is our capability to turn complex around for each of our partners, whether
corporates, start-ups and government. We hope that our products and services will continue
to play a key role in bridging the technology gap in India, even while we continue to
execute our growth-oriented business plan and enhance the partner ecosystem.
BUILDING A CULTURE OF REDUNDANCY
Redundancy is a must-have to foster growth of any company. An attitude of redundancy
creates the right balance to grow an organisation. When a new employee joins Xelpmoc, the
first lesson they get is that they will have only two roles – to make the person
reporting to redundant, which means they should have no work once he joins; and two, to
hire and train good enough people to make them redundant.
It is this cycle of redundancy that makes people think of growth at every level in a
more important way. If everyone is made redundant in the growth phase, it leads to a chain
growth reaction which is very important for the stable growth.
During the year, we added employees with higher experience and capabilities and also
invested
Regards,
Sandipan Chattopadhyay
MD & CEO