1. STATE OF COMPANYS AFFAIRS AND FUTURE OUTLOOK
Our strategic objective is to build a sustainable organization that remains relevant to the agenda of our clients, while creating growth opportunities for our employees and generating profitable returns for our investors.
Our clients and prospective clients are faced with transformative business opportunities due to advances in software and computing technology.
This organizations dealing with the challenge of having to reinvent their core offerings, processes and systems rapidly and position themselves as ‘digitally enabled. The journey to the digital future requires not just an understanding of new technologies and new ways of working, but a deep appreciation of existing technology landscapes, business processes and practices.
Our strategy is to be a navigator for our clients as they ideate, plan and execute their journey to a digital future, to help them ‘navigate your next.
We have embraced a four-pronged strategy to strengthen our relevance to clients and drive accelerated value creation towards implementing the strategy.
2. OPPORTUNITIES & OUTLOOK
At a time of profound and rapid technology change, companys strategy is focused on providing our global, diverse workforce a stimulating environment which is flexible, nurtures social contract, fosters innovation, builds a result- oriented, high performance culture, and motivates todays multigenerational and mobile workforce to develop themselves personally and professionally. The Company has been leveraging Digital technologies extensively to re-imagine its talent acquisition, talent development, and engagement functions by entering into corporate acquisition in medium or large scale.
Company Acquisition Talent acquisition Business Development
Analyst forecasts point to a modest acceleration in worldwide IT spend forecasts. Based on extensive projections towards acquisition, the company expects investments in the ongoing journey to build a Digital economy.
In nutshell, the company strongly believes and practices the motto that it should give maximum performance, scalability and efficiency to its clients & highest return to its Shareholders against their respective investments made in our company.
3. RISK AND CONCERN
A large part of our revenues are dependent on our top clients and the loss of any one of our major clients could significantly impact our business. Further, Risk Management and Compliance involves risks and uncertainties. Our actual results could differ materially from those anticipated in these statements as a result of certain factors.
Intense competition in the market for technology services could affect our win rates and pricing, which could reduce our share of business from clients and decrease our revenues and /or our profits
Our work with governmental agencies may expose us to additional risks.
Some of our long-term client contracts contain benchmarking provisions which, if triggered, could result in lower future revenues and profitability under the contract.
New and changing corporate governance and public disclosure requirements add uncertainty
To our compliance policies and increase our costs of compliance.
We may engage in acquisitions, strategic investments, strategic partnerships or alliances or Other ventures that may or may not be successful.
Mitigation strategies: -
The company is focused on building a robust training framework to cater to the development needs of employees across leadership levels. Also, the Company keeps itself abreast and updated on the contemporary developments in the technology landscape through participation in key technology forums and conferences. The company tried to revamp framework to ensure that it meets the continuity and recovery requirements for employees, assets and business in the event of a disruption. The company has defined a process for Identification of Critical to Success capabilities for each key position, objective assessment to identify current capability metrics for the potential successors, a structured development journey of identified successors.
4. CHANGE IN NATURE OF BUSINESS, IF ANY
Your Company continues to operate in same business segment as that of previous year and there is no change in the nature of the business.
5. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS
There is no material developments taken place during the year. However, the companys subsidiary is planning for corporate restructuring in the days to come. Our culture and reputation as a leader in consulting, technology, outsourcing and next generation services enable us to attract and retain some of the best talent.
6. FINANCIAL REVIEW
The total income for the year was Rs.3837.61 Lacs as compared to Rs. 3842.00 Lacs in the previous year. Depreciation was Rs. 1.78 Lacs (Previous Year Rs. 1.58 Lacs). The Provision for Taxation: (i) for the year under report was 2.45 Lacs (Previous Year Rs. 0.20 Lacs). Profit after tax was Rs. 6.23 Lacs.
This year, the company has decided not to transfer any funds to General Reserve.
The Net Worth of the Company as at 31st March, 2021 stood at Rs. 2223.2 Lacs as against Rs. 2502.08 on 31st March, 2020.