It gives me immense pleasure to report that your Company reported
impressive financial results for the year ended 31st March,2007. The
key financial achievements during the year are:
1 Sales of Rs. 11 7.10 Crores
2 EBIDTof Rs. 52.01 Crores
3 Net Profit of Rs. 24.38 Crores
4 EPS of Rs. 12.73
This is a landmark year. During the year we crossed the revenue of Rs.
100 Crores which is a milestone in your Companys growth. The growth
achieved during the year was on account of increased productivity,
ability to capitalize on each and every opportunity and relentless
effort of all the stakeholders of the Company.
To reinstate our commitment to share our prosperity with stakeholders,
we recommend dividend of Rs. 1.50 per share (15%) for financial year
There have been many noteworthy events during the year. Predominant
among them are:
We were included in The Economic Times ET 500 best companies in India.
We were included in The Business World 100 Best Mid Size Companies in
India (July 16,2007 Issue).
During the year,we successfully completed a preferential allotment of
22,50,000 warrants (convertible into 1 share against 1 warrant within 1
8 months from the date of issue) and 17,50,000 equity shares at
Rs.241/per share and raised an amount of Rs.96.40 Crores(Rs.47.60
Crores already received and Rs. 48.80 Crores will be received in
current financial year)
The Flls increased their stake in the Company and as on date Flls stake
in your Company is about to touch the present 24% limit.
The response of domestic and international investors is reflective of
the confidence in your Companys growth potential.
Your Company has always invested an extra effort to improve its
management capability. In the last financial year we had the honour of
inducting Mr. Pradip P Shah (an eminent personality of finance world)
on our board. This year we are privileged to have Mr. R.M. Joshi
(Ex-Executive Director of Securities and Exchange Board of India) on
our board. Strengthening our board is a continuous process and we will
continue to take initiatives for empowering our board to the next
During the year,your Company installed a state of the art High Speed
Variable Data Printing System with capacity to print 2 1 80
impressions per minute (2.4 million pages per day). It makes me proud
to state that this is the worlds fastest variable data printing
machine and first one in Asia. Mr. N. Gopalaswami, Honble Chief
Election Commissioner of India inaugurated this Digital Printing
Building strong capabilities is an ongoing and important agenda for
your Company. Keeping this in view,your Company has opened two business
development centers in its owned premises in Delhi and Lucknow. We have
plans to have presence in 1 0 cities of India within a short span of
During the year your Company invested Rs.2.10 Crores in Vakrangee
Electronics Limited (VEL) by subscribing 21,00,000 shares of Rs. 1O/-
each. VEL is a Company, which is developing new improved Electronic
The Management has decided (Subject to your approval) to transfer its
software products Viz. Document Management System, Human Capital
Management and School ERP to its Wholly Owned Subsidiary. This decision
has been taken to put renewed focus on these products. Management is
confident that this transfer will unlock value for all the shareholders
of the company in the years to come.
Your Company bagged the assignment to handle PFO (Public Facilitation
Office) & Directors Identification Number (DIN) of ROC for 22locations
through TCS / CMC Ltd. This has also proved the capabilities,
commitment and efficiency of your Company to handle large-scale
Document Management and e-Governance projects in a time bound &
mission critical manner.
The Election Commission, one of our very old and satisfied clients, has
reaffirmed its trust in our capabilities of timely execution of the
assignment as per the service levels by entrusting further assignments
of Election Photo Identity Card (EPIC) for Maharashtra, Chhattisgarh
and Electoral Photo roll for Madhya Pradesh and Gujarat.
The end to end services in ail the works related to document
management and e-Governance are highly appreciated by our customers.
Your Company is poised to become one stop Document Lifecycle Management
Company through the three strategic business units (SBUs) namely
Document Management Services, Printing Management Service and IT and IT
Concept of paperless office is now not only the prerogative of the
private sector but is also gaining momentum in Government sector as
well. Introduction of Right to Information Act has added further fuel
to this concept. As per the provision of the RTI Act, Government /
Government agencies implementation of RTI has necessitated the
conversion of all historical data and documents into electronic form
and keep future records in electronic form. In other words, existence
of Foolproof document management system in place is a must and we are
in an advantageous position to grab the opportunity, with necessary
expertise, experience and infrastructure at our disposal.
There are boundless opportunities opening up for your Company and your
Company is out to exploit these opportunities in the best possible
manner. Thus the growth of your Company is continuously fuelled,adding
value for all stakeholders.
I wish to thank our staff at all levels for their value based
commitment and diligent discharge of their assigned functions, which
have contributed collectively to our Companys success in completing
assignment well within time.
Before I conclude,! must thank all of you for your continued support
and confidence reposed in the Company. I would also like to place on
record my sincere appreciation of the support extended by all
customers, business associates, Flls and bankers of the Company.
Needless to mention I look forward to the continued cooperation of one
and all in the years to come.
With best wishes,
Chairman & Managing Director