On behalf of the Board, I am pleased to welcome all shareholders and distinguished
guests to the 16thAnnual General Meeting (AGM) of our Company. In the 2023-24 fiscal year,
we achieved a 2X increase in our sales turnover. As we celebrate 16 years since our
inception, we are deeply grateful for your unwavering trust and support throughout our
journey.
The company is focused on accessing the latest advancements and innovations in the
Intelligent Traffic Management System (ITMS)industry. Our strategies include meeting
rising demand, driving revenue growth, enhancing employee skills to align with industry
developments, and advancing workflow automation and user-friendly self-service software.
The company is developing new technologies in the automobile industry, including the
AIS 135 Fire Detection and Alarm System (FDAS) and Fire Detection and Suppression Systems
(FDSS) for buses, in line with UBS-II (Urban Bus Specification) and BIS/IS16833 standards.
These systems are mandatory for new vehicle registrations, and OEMs have expressed
interest in sourcing these components from us. Both products have significant market
potential and are expected to generate substantial business.
Additionally, the company is entering the Indian Railways sector with the design and
development of a Passenger Information System (PIS) based on Research Design and Standards
Organization (RDSO) technical specifications. This technology is currently in the
validation stage, and we anticipate participating in RDSO tenders, which could lead to
substantial business opportunities.
During the financial year, the company has developed its own Dual Profile AIRTEL - BSNL
embedded SIM in collaboration with IDEMIA SYSCOM a France based Company having its GSMA
approved production facility in Noida, India and company has enlisted VLTD in 12 states in
India, out of which 4 States have already started the VLTD implementation, and the
remaining 8 states are in the process to setup State Software Backend and Control &
Command Centers. The Company is targeting to enlist in 18 states to increase its Sales and
Subscribers.
During the financial year, the Company earned profit of 1.06 crore Rupeesagainst a
turnover of 10.01 crore Rupees which is Doubled as compared with the performance of the
previous year. We believe that we have built a strong foundation in Indian Vehicle
Telematics Industry for the future with sustainable and profitable subscribers' growth for
the long term. Our deep-rooted legacy, brand power, visionary approach, innovation,
capabilities and commitment to sustainability boost our leadership position in the
industry.
I also extend my gratitude to the independent directors of the Company for their
extensive knowledge and experience brought in by them during the Board Meeting
deliberations and their constant guidance & mentor ship to the Company for its growth
and development.
I thank all our employees for their dedication and commitment. I express my heartful
gratitude to all the stakeholders for their trust and support and hope you shall continue
to do so as we move ahead. Last but not least, I appreciate and thank the various
Government and Regulatory authorities, Company's valued customers, suppliers, vendors and
investors for their consistent co-operation and trust.