Atishay Ltd

Dear Shareholders,

Reflecting on the past year, 2023-24 has been nothing short of remarkable for our company. As we continue to traverse the ever-changing technological landscape,

I am thrilled to share Atishay Limited's

Annual Report with you. It has been a journey marked by both trials and triumphs, and I am truly touched by the steadfast commitment and hard work of our team in propelling us forward. In a world that is now increasingly recognising South Asia's rapid growth, especially fuelled by India's impressive economic performance, we at Atishay are excited to seize the opportunities ahead. India's economic momentum in the last quarter of 2023 surpassed expectations, driven by robust investments and government initiatives. The recent UNCTAD report in April 2024 further highlights India's growth trajectory, projecting a continued surge following a 6.7% growth rate in 2023. This growth, driven by significant public investments and the thriving services sector, as well as the strong demand both locally and internationally. Your Company acknowledges this growth and seeks to ride on this growth momentum to deliver a standout performance.

Our performance in FY 2023-24

Throughout the course of FY 2023-24, we continued to develop innovative products and provide e-governance solutions while expanding our retail and other services. All these factors have collectively fuelled our revenue growth. Also, by understanding evolving market demands and staying abreast of the latest technological advancements, we have created a diverse portfolio. This has enhanced our responsiveness to market trends and customer preferences; enabling us to capture emerging opportunities and deliver superior value to our clients and end-users. Strategic investments in enhancing our service portfolio and customer experiences have further solidified our revenue streams, reinforced our market position and laid the foundation for sustained growth.

Leveraging focused innovation to drive excellence

At Atishay, our dedication to harnessing digitalisation for facilitating India's progress remains resolute. We are delighted to play our part in the country's robust growth by developing comprehensive software and data

I am delighted to share that in a year marked by several macroeconomic headwinds, we have not only managed to execute our achieved the best and life time results in our company's history.

management solutions. These solutions enable seamless connections between citizens and essential programmes and services. In addition to providing these services, we continue to undertake several initiatives aimed at expanding our footprint and fortifying our competitive edge. Furthermore, our focus extends to diversifying our products and introducing novel technological advancements. These efforts not only propel our growth but also position us for sustained success and industry leadership.

Emphasising customer-centricity

Offering client-centric services is at the core of our ethos. Our collaborative efforts with various government bodies enable us to tailor bespoke solutions that address the specific needs of e-governance while aligning closely with government objectives

Embracing change, exploring opportunities

The engineering and technology (E&;T) sector is undergoing rapid transformation. In response to this, we are expanding our service portfolio and nurturing a culture of continuous learning and innovation to stay ahead of the curve. Through partnerships and substantial investments in R&D, we are positioning ourselves to seize new market opportunities and sustain our competitive edge. There are several challenges in the market including heightened competition, increasing regulatory requirements, evolving customer expectations and concerns pertaining to data security and privacy. At Atishay, we are leveraging the changes to our advantage by continuously enhancing our operations and processes.

Our job orders and commitments

During the year, we secured notable projects, with our innovative and efficient business model. Collaborated with the Office of the Chief Electoral Officer in Maharashtra to prepare Marathi Photo Electoral Rolls in PDF format and generate Deletion

Lists in Marathi for 288 Assembly Constituencies. Secured a major work order from the Chief Electoral Officer of Maharashtra for election-related IT/ITES services, including Electors Photo Identity Cards, envelopes, welcome letters, Voter Guide and Voter Pledge. Successfully computerised 4,534 Primary Agriculture Credit Societies(PACS) in Madhya

Pradesh and 863 PACS across

Himachal Pradesh.

Empanelled by the Ministry of Health and Family Welfare, National Health Authority (NHA) as an authorised service provider for printing and delivering PVC Ayushman Cards.

Secured a purchase order from The Jaipur Central Co-operative Bank

Limited in Rajasthan to supply

MicroATM devices for the PACS Digitisation initiative.

Contributing to a greener tomorrow

For us at Atishay, sustainability is more than a box to check off; it is integrated into our projects and operations. As a responsible corporate entity, we continue to take targeted measures to minimise our environmental footprint while maximising efficiency.

Even while trying to enhance our services, we remain conscious of the world around us. Your Company is adopting industry-best practices for energy conservation, along the lines of using LED lights, energy-saving fans and AC units within its premises. We are also in the process of transitioning to laptops from desktop computers, as they are proven to be more energy-efficient. Additionally, we engage our team members in our sustainability initiatives through awareness campaigns and training programmes to foster a culture of environmental stewardship.

On track to build a connected tomorrow

Speaking of our prospects, I am confident that Atishay will continue to play a pivotal role in enabling India's technological advancement. We will remain steadfast in our commitment to exceeding client expectations, shaping a diverse and inclusive work environment and creating long-term value for our stakeholders.

On behalf of the Board of Directors of Atishay, I want to thank you for your continued trust, confidence and support.