I thank you for your continued trust, encouragement and support.
During the year under review, Company''s revenues (on a standalone
basis), increased to Rs 1545.19 million from Rs 1445.44 million in
2009-10. The consolidated revenues increased for 2010-11 also
registered a growth of 5.99% to Rs 2919.94 million for 2010-11 from Rs
2754.94 million in 2009-10. The standalone profit after tax was atRs
212.61 million as against the previous year''s profit after tax of Rs
243.31 million.The consolidated profit after tax was Rs 207.99 million
as againstRs 221.92 million for the previous year. The decline in profit
after tax was due to foreign exchange fluctuation and increased cost
due to inflation.The business in your Company grew at a fast pace in
two businesses viz.,OPMS (Online Publishing and Media Solutions) and
RNA (Research and Analytics).
According to the NASSCOM Strategic Review 2011, worldwide technology
products and services related spend is expected to accelerate with
emerging verticals and emerging geographies. To capitalize on these
opportunities, during the year we have made investments in
strengthening our vertical capabilities and enhancing our technological
abilities. We have the capability to scale rapidly and the flexibility
to distribute engagements across geographies.
To meet our growth plan, last year as a strategy we focused on
strengthening our marketing and sales team. Realizing the growth
potential in the Indian market, we increased our focus on the domestic
market.The entire marketing and sales team has been trained and
equipped to understand the customers'' business challenges and help
design solutions for them. Our increased focus on the Indian market has
already started to yield results, and we continue to add customers from
During the year, the Board of Directors of your Company appointed Mr.
Dileep Choksi as an Independent Director. Mr. Choksi is a leading
Chartered Accountant by profession and has over 35 years of rich
professional experience. Mr. Choksi is also on the Board of Directors
of several leading private sector organizations. His expertise and
guidance will further strengthen the team efforts.
I am proud to inform you that your Company was listed by IAOP
(International Association of Outsourcing Professionals) as amongst the
best 20 companies by services provided in Financial Management
Services''; It was conferred Asia''s Best Employer Brand Award on July
23,2010 at Singapore and Dr. Chandra Mauli Dwivedi, President and
Global HR head was conferred the HR Leadership Award.
I am glad to state that, during the last financial year, your Company
was included in the list of Global Services 100 List of outsourcing
services providers.The solutions developed by your Company has begun to
receive recognition with one of our esteemed customers being adjudged
the winner of the EDGE Award for innovative use of technology for
business benefits by the Information Week magazine.
Assimilating a team of talented people with exceptional capabilities is
imperative for every organization''s augmentation. Datamatics has always
believed in enabling bright minds to transform ideas into generative
products. Our Human Resource department has played a crucial role in
effectuating talent into the organization.The Company believes in
promoting and nurturing work environment which is conducive to the
development and growth of an individual employee, by employing the best
In addition to these achievements, your Company has renewed its
emphasis on being an environmental friendly company. The employees make
a conscious effort to recycle paper, adopting green initiative by
sending annual report and other communication to the shareholders
through email. Your Company is involved in waste management and energy
conservation methods at all facilities across geographies.
Recently your Company registered its Trade Mark''homes-Hosted Meter
Solution''in the EU and its 27 member countries and it also has 8
(Eight) Copyrights registered for its proprietary processes. Datamatics
Logo is now registered in UK, US and also in European Union (EU) and
its 27 member countries. Datamatics word mark is registered in India as
a Trade Mark as well as a Service Mark. It is also registered in UK and
EU and its 27 member countries.
As you are aware, the global economy has been recovering from a severe
slowdown and many enterprises have been cautious in their technology
investments. Last year saw many such companies begin to consider new
investments and expand their existing budgets. Customers today are
demanding innovative solutions to help them meet their business
challenges and preferring to associate with partners having wider
market presence. Companies across the world are no longer interested in
vanilla services, and now expect solutions that meet their specific
business challenges.To ensure higher customer satisfaction, your
company is focused on driving and leveraging the emerging innovation
trends. It is to meet this demand that your Company has been investing
in designing and developing various solutions that drive our
customers''evolution into next-generation enterprises. I am glad to
share with you that i-Q, the smart document processing solution
developed in-house at our R&D unit, received a positive review in a
technology audit conducted by market research firm Ovum.
As I conclude, let me once again reiterate my gratitude to you, our
shareholders for supporting us. We, as company are poised for
tremendous growth.We have the necessary capabilities,domain
expertise,and are focused.We have the required fortitude to build a
strong company with a view on long term perspective. I assure you that
we are focused on increasing shareholder value.
We value your commitment!
Dr. Lalit S. Kanodia
Ph.D., M.I.T. | Chairman