Quintegra Solutions Ltd Management Discussions

REVIEW OF OPERATIONS AND OUTLOOK

The Company still does not have any business. All cost cutting measures are implemented more effectively. Attempts to revive the Company continue. There was no Change in the nature of the business of the Company done during the year.

HUMAN RESOURCES

Nothing to report since there are no operations and employees except Wholetime Director and Company Secretary.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Reporting on various aspects of MDA will not be appropriate at present as the Company has still not come out of financial and operational crunch. All possible efforts to revive/restructure the business are being explored. However for the benefit of members current situation relating to IT industry in general as reported by Nasscom are briefed in this section even though they may not be applicable to the company in the present scenario.

Nasscom reported that Indias IT Sector is set to become a USD 227 billion industry in FY22, registering a 15.5 per cent growth which is the highest in over a decade and termed it as a year of resurgence, after the one of resilience in the immediate aftermath of the pandemic. Annual growth rates have now increased to around 15-20% which were 6-7% before the pandemic. However, the industrys growth has brought with it an increased scale of attrition as other Indian IT majors and newer tech start-ups are competing for the same talent pool. In its yearly strategic review for FY22, Nasscom said the industry added 4.5 lakh new jobs to take the overall direct employees to 50 lakh people. Indian software product industry is expected to reach around US Rs. 100 billion by 2025.

The allocation of Rs. 88,567.57 crore (US Rs. 11.58 billion) for IT and telecom sector in Union Budget 2022-23 is one of the major initiatives taken by the Government. With strong governmental support, good English based educational system, large talent pool, and the open market, India has a flourishing IT industry, and earned a well-deserved place in the global market. Indian companies are focusing to invest internationally to expand global footprint and enhance their global delivery centres. Having proven its capabilities in delivering both on shore and off shore services to global clients emerging technologies now offer new scope of opportunities for top IT firms in India.