Secure Earth Technologies Ltd Management Discussions.

SECURE EARTH TECHNOLOGIES LIMITED (FORMERLY KNOWN AS GLOBSYN INFOTECH LIMITED) ANNUAL REPORT 2011-2012 MANAGEMENT DISCUSSION AND ANALYSIS PERFORMANCE OF THE COMPANY: The performance of the Company during the financial year ended on 31st March 2012 is summarized below. 1. Consolidated Financials including Subsidiaries: (Rs. In Lakhs) Year Ended Year Ended 31.03.2012 31.03.2011 Income from Operations 596.87 791.33 Other Income 26.61 4.48 Operating Profit (PBIDT) 55.27 (5.48) Profit Before Tax (64.22) (32.33) Profit after Tax (114.33) (45.72) 2. Indian Company Figures (Rs. In Lakhs) Year Ended Year Ended 31.03.2012 31.03.2011 Income from Operations 257.27 409.80 Other Income 22.62 4.48 Operating Profit (PBIDT) 27.33 46.59 Profit Before Tax 18.74 19.89 Profit after Tax (54.73) 6.50 REVIEW OF THE PERFORMANCE FOR THE ACCOUNTING YEAR ENDED 31ST MARCH 2012 PRODUCT BUSINESS: Globsyn Infotech Limited has continued to provide products and services in the BFSI space and kept a strong hold with their existing customers in INDIA and Sri Lanka. As an on-going process we have extended SWIFT operations for our customers for their new foreign exchange designated branches. As a step ahead we have assisted Banks in providing 2-way seamless straight through processing with Banks internal Core Banking and Treasury systems. Banks live using our product and services have appreciated the quality of our support and services and have passed on repeat business on regular interval. Our generic e-mail notifications solutions SWIFThru has been deployed at 3 Banks today and has been well accepted both the customers using our and competitors SWIFT interface. We are on the verge of releasing the latest release of SWIFThru. Apart from the capability to handle SWIFT transactions, SWIFThru has been customized to facilitate real-time E-mail notifications of Account Statements and Bank Advices generated by the Core Banking Systems of the Bank. Our roadmap is to create a generic Notification which could notify anything and everything. Our long standing Business relationship with our Business and Support Partner, Fundtech BankServ., USA has given impetus to stronger working relation and has helped us in offering new products and solutions in the secured payments space. We are working with Fundtech BankServ on releasing a generic OFAC/AML (Office of Foreign Asset Control/Anti Money laundering) solution namely COFI (Compliance Filter) to scan through Suspect messages using the international Suspect List. We have successfully implemented and made ready the SWIFT Real-Time Disaster Recovery setup or United Bank of India and Vijaya Bank. With this most of our customers have a SWIFT Disaster Recovery Site ready for use during emergency situations. We are closely working with 2 INDIAN Public Sector Banks on pushing our Turbo SWIFT solution and have proposed them on replacing their existing SWIFT solution with our offering. SWIFT mandated the network connectivity upgrade and SWIFTNetLink 7.0 version upgrade for all the Banks and we at Globsyn assisted all our Customers on meeting this stringent deadline. USA SUMMARY (USD) Year Ended Year Ended 31.3.2012 31.3.2011 Income from Operations 91035 177610 Profit before Tax (151602) (108302) Profit after Tax (151602) (108302) MALAYSIA SUMMARY (RM) Year Ended Year Ended 31.3.2012 31.3.2011 Income from Operations 1883759 2052195 Profit before Tax (211168) 31446 Profit after Tax (211168) 25157 USA - GLOBSYN TECHNOLOGIES INC (USD) Year Ended Year Ended 31.3.2012 31.3.2011 Income from Operations 1500 1100 Profit before Tax 166 (16251) Profit after Tax 166 (16251)