I am happy to bring you the updates on the exciting things that are
happening at your company. The strategic transformation project that
was started 3 years ago is beginning to take shape. The year 2011- 2012
saw multiple pieces of the new strategic vision falling into place. The
results of the strategic transformation project would start to show in
the next financial year.
The changing economic landscape across the world prompted your company
to re-assess its long term strategic targets and goals. Your company
chose to undergo complete transformation and strategize our long term
goals. Through this process your company has emerged stronger and more
resilient. This would not have been possible without the steadfast
support that we have received from you and our other stake holders. I
would like to thank you for your support and tell you that your
patience will pay off soon.
With the target of being one of the best integrated Information and
Communication Technology (ICT) companies in the world, Prithvi has
developed clear strategy and implementation plan for each of the three
In IT, your company is transforming itself into a full service IT
organization, which can meet all the end to end needs of the customer.
The organization is investing in increasing our capabilities to be able
to deliver end to end services. This exercise will make your company
one of the few mid-tiers IT companies in India and the world with
capability to service diverse end to end needs of the customers. Key
strategic focus areas for the business continue to be Data - Process -
In telecom engineering services (TES), your company aims to be the
foremost provider of services across the world in multiple technologies
including LTE, Wimax etc. The target is to be the integrated provider
of telecom engineering services for customers across the world. Our
expansion in new geographies such as Middle East and North Africa
(MENA) would drive growth in the TES business.
Telecom products business would concentrate on orders that would be of
higher margin and help in backward integration of our services
businesses. This business would become a key part of the Telecom 360
With our sight firmly focused on the future, we have made some tough
choices to in the financial year 2011-2012. The year saw your company
give up business in multiple projects that did not meet our margin
thresholds. On a Y-O-Y basis the consolidated revenue reduced to INR
1378.31 Crfrom INR 1633.99 Cr, a reduction of 15.64%. However, during
the same period the profits grew on a Y-O-Y basis to 20 Cr, an increase
of 14.46% percentage.
The total revenue from IT is at INR 1265.99 Cr and the total revenue
from telecom both engineering services and products is at INR 112.32 Cr
There have been multiple achievements during the year in customer
acquisition and in launching new point solutions that solve specific
customer problems. Some of our fastest growing services include managed
services, system integration and enterprise performance management.
Point solutions such as Responsive Infrastructure management and
Unchurn have been received well by the customers. The basket ~ of
services being offered has constantly expanded during the year.
I am also happy to announce that our conviction in fighting various
legal battles on behalf of our share - holders has started to payoff.
Your company has been able to earn favorable results in those cases. It
should put an end to the question marks about Prithvi''s sincerity in
seeking a legal recourse to fight for the right of our shareholders.
The next few months would see a flurry of activity. Your company would
be making some major announcements that would have set course for the
next stage of growth for the company. I am eagerly looking forward to
bring you more good news next year.