I am excited to announce that DRC Systems India Limited has delivered
outstanding financial performance this fiscal year. Our revenue saw substantial growth,
reaching
4768.30 lakhs a 86% increase year-over-year. Additionally, our
profitability improved significantly, with EBITDA up by 48% to 1492.55 lakhs and Profit
After Tax (PAT) increasing by 74% to 1165.40 lakhs.
Fiscal 2024 has been a transformative year for DRC
Systems. We have shown not just resilience but a strong commitment to
innovation and growth as we strategically repositioned ourselves as a globally focused
technology leader. In a rapidly changing and competitive environment, we have been able to
deliver significant value to our stakeholders by expanding our footprint internationally,
particularly through our entry into the US market and by strengthening our operations in
the Middle East region through strategic collaborations with local partners.
Our success is largely attributed to the timely and decisive leadership
of our Managing Director, whose strategic pivot has yielded impressive results. The
outcome is clear in our annual performance, with consolidated revenue, EBITDA, and PAT
increasing by 86%, 48%, and 74%, respectively.
We have also made key strategic moves to bolster our innovation
capabilities, forge partnerships, acquire cutting-edge companies, and enhance operational
efficiency. Notably, we entered a joint venture with UAE-based EZMS LLC FZ, offering
Platform as a Service (PaaS) on a Low-Code No-Code (LCNC) platform. This collaboration has
opened lucrative business opportunities in the UAE Free Zones and across the Middle East.
In addition, DRC Systems achieved the prestigious CMMI Level 3
certification from the US-based CMMI Institute, underscoring our commitment to excellence
in software development and our ability to consistently meet and exceed customer
expectations.
In FY 2023-24, we also advanced our technological capabilities by
incorporating Artificial Intelligence (AI), Machine Learning (ML), and Blockchain into our
operations through a strategic investment in Nighthack Technology Private Ltd, a
Bangalore-based firm specializing in these cutting-edge technologies.
Under the dynamic leadership of our Managing Director, Mr. Hiten
Barchha, we have ventured into new territories with meticulous preparation. It gives me
great pride to say that your company is well-positioned for significant growth in the
coming years.
As I look into the future, I see our expanding product portfolio built
over AI, ML and Blockchain and immense international expansion, backed by the company's
technology prowess.
There is a renewed sense of energy within the company, driven by a
focus on innovation and strategic preparation. As the saying goes, "Success occurs
when opportunity meets preparation."
I am confident in stating that FY23-24 was a year of preparation under
exceptional leadership, setting the stage for DRC Systems to seize the vast opportunities
that lie ahead. After all, "the future belongs to those who prepare."
Thank You,
Keyur Shah
Chairman