I am happy to present the Annual Report for the year 2017-18, a year that would surely standout as one of the more eventful years in the history of GlobalSpace.
This year we surely scaled a key landmark by getting successfully listed on BSE-SME platform. We are probably the first digital health & software product company to list on the BSE-SME Exchange. I would like to thank you for an encouraging response to our public issue and embarking on this exciting journey with us.
We firmly believe that people are key to the success of any organization.
We are taking firm steps to create an organization offering equal opportunities, growth & learning potential to our people. This year, we had put focus on setting up internal systems, processes & values which are already helping us to become highly objective, result oriented & professional organization with clearly defined ethical standards.
We are able to attract & retain some of the best talents in the industry, which is usually a big challenge for most of the organizations of our size, moreover proposed ESOP policy would surely help us further this cause. I am very sure that today GlobalSpace is on a very firm grounds to embark on the next Phase of growth.
With the world moving toward digital transformation, we at GlobalSpace aim to enable this transformation using new-age disruptive technologies such as Cloud, Mobility, Artificial Intelligence and Robotics. The Company has a domain expertise and thought leadership in healthcare technology where our software products and solutions are used by over 25 leading Pharma and Healthcare Companies. Over the years, we have launched various products in this vertical to create entire digital healthcare eco-system.
Happy to mention about our recent strategic acquisition in the form of Medi-app (a B2B E-Commerce Platform for Generic Medicines distribution). This is a synergistic acquisition for us, we had already built GloPCC, an evolved digital platform for Pharma distribution including ERP, Mobile & Web app. Merging Medi-app’s network on GloPCC platform would provide the much-needed technical scalability & viability to Medi-app, along with initial impetus to grow the platform to be India’s largest Pharma channel network. This is a major strategic upgrade for GlobalSpace, and gives us a huge canvass to paint our dreams.
With continuous focus on R&D and innovation, we have successfully expanded in fintech domain and have been working with some leading BFSI companies to provide end point security solutions. Another area where we are very optimistic about the growth prospect is the education technology space where we are incubating an interesting learning platform using robotics. We are very glad to have partnered with some leading institutions globally to build this concept & embark on the exciting journey of bringing STEAM education in India.
We reported a robust growth in this financial year, total revenue for the year ended March 31st,2018 stood at Rs 29.2 crore, as compared to Rs 17.3 crore in the same period last year, a growth of 69%. Net Profit for FY18 stood at Rs 2.3 crore, as compared to Rs 1.03 crore in FY17, a growth of 127%.
Going forward, on the back of our strong focus on R&D, we would continue to build capabilities across various industry verticals that we cater to. And we would continue to invest in sales and marketing efforts to acquire new clients and orders. We believe that we are at an inflexion point as we are transforming and transitioning to the next league and ready for next leg of high growth. I would once again like to thank all stakeholders and look forward to your continuous support.
Krishna Murari Singh