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The building blocks that we created in the last three years for a solid and sustainable Financial Technology product company out of India are now yielding the results we desired. These include significant investments in enhancing our rich suite of products by continuously driving innovation to remain at the cutting edge of rapidly changing technology. This is truly a remarkable time for everyone in your Company and I feel your Company has done exemplarily well.
Your Company made significant investments in strengthening the sales and marketing infrastructure, execution capability and leadership pipeline across our 4 business lines, now manned by independent CEOs. These have resulted in our brand being recognized globally - including academic institutions such as iGTB Oxford School of Transaction Banking, international Analyst endorsements from Gartner, Forrester, Celent and Aite. IBS Intelligence, a leading global research firm in its 2018 Sales League Table ranked Intellect #1 in Retail Banking Systems & Payment Systems and #2 in Lending Systems. And above all, we are also expanding our footprint into some of the world''s best known banks across US, Europe and Asia.
At present, four technological trends dominate the banking space globally: Artificial Intelligence and Machine Learning for building intelligent and relevant algorithms, Cloud technologies for rapid deployment, API based open architecture precipitated by Open Banking initiatives in Europe and Robotic Process Automation. Your Company''s digital architecture encompasses all four and is focused on providing real time and contextual experience keeping the customer at the center of all we do. We will also build a sizeable presence in SaaS model to augment the existing product license based business model and thus provide more flexibility to our customers.
It is my belief that these would position us very uniquely, far ahead in terms of the generation of technology vis-a-vis our competition in the relevant domain.
Each of your Company''s products follow an in-house pattern that has ensured its success in the market. What we begin with is spotting an opportunity and work towards developing a product. We then move on to having this validated by clients. Stage three involves go-to market strategy development and fourth is where we garner analyst rating that contributes to commanding premium pricing and finally we are ready for partnership.
The financials reflect the result of these focused initiatives. Specifically, your Company''s revenue crossed Rs. 1000 Cr with a 3 year CAGR of 21 %, Gross Margins were steady at 50% and EBITDA saw a sharp upswing from a loss of (Rs.25 Cr) to Rs. 79 Cr over the past year. Your Company has been profitable at the PAT level for 5 quarters in a row with the year ending at Rs.47 Cr. The cash position is comfortable post a successful rights issue and collections exceeding revenue for the year.
Software License revenue grew at an impressive CAGR of 32% - an affirmation of our strategy and direction as well as our execution capabilities -apart from a validation and endorsement of our Leadership position in the Fintech Product space. License revenue grew to Rs. 199 Cr. in current year from Rs.156 Cr last year, registering 27% percent growth last year.
In view of the above, and my outlook of the technology trends mentioned herein, I am very optimistic of Intellect 2.0 - our journey over the next three years till 2021. The agenda has been set and during this period, plans have been laid to attempt monetisation of our product strengths by improving license pricing and deal size, upsell to our increasing customer base and ensure focused entry along with expansion strategies in specific countries through strategic alliances where appropriate. This would be complemented by institutionalising various functional processes, building a learning community to have ready access to continuous innovation, including third parties which are part of the eco-system and strengthening organisation capability for a rapid and sustainable growth.
I thank you for your confidence in Intellect and for your support through the formative years, which encouraged and strengthened our resolve to move ahead towards our goals. I look forward to the future with a huge sense of optimism and enthusiasm as we continue to build a global products company out of India - which has been my dream for many years.
Chairman & Managing Director