icra techno analytics ltd Management discussions

ICRA TECHNO ANALYTICS LIMITED ANNUAL REPORT 2006-2007 MANAGEMENT DISCUSSION AND ANALYSIS Review of Operations: During the year under review, the financial performance of your Company improved significantly in terms of turnover as well as profitability. Your Company also expanded its operations in related areas during the year. The Directors of your Company placed significant emphasis on developing new business partners in various countries during the year under review. This has already translated into fresh business from a client and is expected to deliver further growth in the coming years. Your Company acquired new overseas as well as local customers during the year under review. Your Directors are optimistic that these would serve as strong reference points in the years ahead and help your Company acquire new customers. Your Directors take pleasure in mentioning that your Company was able to obtain several repeat orders from existing premium customers during the year under review. This clearly demonstrates the success of the policy followed by your Directors of relentlessly pursuing key customers with superior quality deliveries. To enhance its competencies in the Business Analytics space, your Company recruited several highly qualified personnel during the year under review; this resulted in your Company being able to execute several fresh orders successfully. It is expected that these initiatives would translate into further growth in this domain in the years to come. Awards & Recognitions: Your Company went through the rigours of implementing stringent information security standards during the year under review and was able to successfully go through the various phases of the ISO: 27001 audit. The ISO: 27001 is a certification of an organisations information security management system. Future Prospects: Your Company remains optimistic about its future performance and it is expected that its financial performance will show further growth during the current financial year. You will be pleased to know that your Company is taking steps to ensure that it consolidates its position in various software segments. It plans to come up with innovative products and services catering for niche segments and aggressively market them. Besides, your Company is also keen on entering lucrative new markets particularly in the USA, Asia and Europe through its partner development programme. During the year under review, your Company initiated steps to incorporate a wholly-owned subsidiary in the USA. The company has been incorporated under the name ICRA Techno Analytics Inc. in April 2007, and this is expected to immensely help in reaching out to new customers in the North American market. The Directors of your Company are optimistic about maintaining the growth momentum in software products & solutions and engineering services. Considering the present state of affairs and barring unforeseen circumstances, there should be significant improvement in the working of your Company in the current year.