Management Commentary
Mr. Raju Vegesna, Chairman, said, “The last two years has seen private Indian enterprises, and the government, rethink the role of IT within their organisation. While there is continued aggression in their adoption, we are seeing a distinct maturity in the profile of services being contracted. The wisdom to contract with a single service provider is also allowing global MNCs entering India to shrink their go-to-market time.Our focus, this upcoming year, will be to solicit disruptive contracts that would help us build a unique portfolio of knowledge-driven Cloud and Managed services”
Mr. Kamal Nath, CEO, said, "With Cloud@Core at the heart of most of our service lines, over the past year, we have been able to establish our strategic relevance to customers in their Digital Transformation journey. Today we are one of the few Indian companies which serves the entire cloud spectrum of Cloud Enabling, Cloud Inspired, Cloud Pure and Cloud Enhanced services.These have also strongly supported the growth of our Telecom business around the SD WAN, Cloud Interconnects and Intelligent Edge networks.”
Mr. M P Vijay Kumar, CFO, said, “Our revenue growth is lower than the prior year due primarily to the expiration of a large government multi-year services contract. Excluding this impact, the overall revenue growth was in line with last year’s growth. In line with our focus on cash management, we are also taking a conscious business decision to reduce exposure to contracts with extended working capital cycle. The network and data center services continue to see demand and we are expanding on the capacity. We continue to make investments in our people and tools that complement digital transformation services for our clients. We will, as in the past, keep a tight leash on our costs and the turnaround time.
The Board has recommended a dividend of 12 % subject to approval from shareholders.
Cash balance at the end of the year was INR 2248 Million”
Business Highlights
Growth Drivers
The primary growth drivers in the markets are cloud adoption led by digital initiatives and transformation. This trend is triggering movement of workloads from on-premise Data Centres to hyperscale Public Cloud and hosted Private Cloud in varied degrees, based on the digital objectives of the enterprises. This in turn, is triggering transformation of the traditional network architecture, and transformation at the edge which connects the end user. The need for digital services like analytics, data lakes, IOT etc are shifting the balance to adoption of hyperscale Public Cloud vs Private cloud. Collectively, these trends are generating opportunities for full scale Cloud, DC and Network service providers with digital services skills.
Key Wins and Business Highlights