dear shareholders,
It is always a matter of pride and pleasure for me to pen down my
thoughts. This year, the occasion is particularly momentous, as we successfully achieved a
major transformation during the fiscal. It captures our collective achievements for the
year gone by and outlines the exciting opportunities that lie ahead.
Our rebranding and transformation from Cressanda Solutions Limited to
Cressanda Railway Solutions Limited has not only enhanced our visibility in the market,
but has also positioned us for accelerated growth and innovation. This milestone marks a
significant chapter in the journey of Cressanda, and it is a testament to our resilience,
commitment, and the unwavering trust you, our valued shareholders, have placed in us. It
also represents not just the culmination of years of hard work and dedication, but also
the beginning of an exciting new chapter in the Company's history.
As I contemplate on India's macroeconomic future, the outlook appears
exceptionally bright. India's macroeconomic future looks exceptionally promising, with the
Economic Survey forecasting a +7.0% GDP growth for FY25. The government's emphasis on
infrastructure, technology, and manufacturing positions the country for significant
economic expansion. As cities evolve and new business opportunities arise, there's been a
noticeable increase in the drive to boost digital skills. Both public and private
companies are increasingly focusing on expanding their digital capabilities and presence,
creating a wealth of opportunities for digital media companies like ours. By embracing
these opportunities and broadening our market reach, we're perfectly poised to excel in
India's ever-changing digital environment.
Against this backdrop, throughout FY24, we've made significant progress
toward building a sustainable future for Cressanda. Our commitment to innovation, quality,
and customer satisfaction has fuelled impressive growth and expansion. We heavily invested
in our digital capabilities and understanding customer needs to stay ahead of the curve.
Throughout the year, we adapted to changing customer demands, realigned our focus to
explore new digital marketing offerings, and strengthened our in-house capabilities.
In terms of our business performance, we continued to build on our
growth momentum. What gives me deep satisfaction is that the Company reported profitable
growth, whereby the percentage increase in the bottom line was higher than the percentage
increase in the topline, indicating the robustness of our business model. CRSL exhibited
significant agility and recorded a revenue of Rs 20,978.22 lakhs in FY24, up by ~130.45%
over FY23. Our PBT and EBITDA stood at Rs 1,557.87 lakhs and Rs 19,797.47 lakhs, after
registering a 91.93% and 135.69% y-o-y growth, respectively. We made a profit after tax of
Rs 1,379.55 lakhs, up by 126.89% over FY23. This impressive achievement was primarily due
to the Company's success in securing multiple multi-year contracts with prestigious
government agencies, allowing them to offer top-notch concierge and digital media
services.
There is an exciting transformation sweeping the Indian digital media
services industry, creating uncertainty for conventional business models on the one hand
and empowering those who are prepared to move and adapt with speed on the other. With
internet usage soaring and smartphone sales on the rise, the demand for on-the-go digital
services is more pressing than ever. Leveraging our technological expertise, we're poised
to seize this moment.
At CRSL, we understand that enhancing our customers' businesses goes
far beyond
just establishing a digital presence. We aim to delight customers with
every interaction, striving for processes and systems that ensure service delivery is both
reliable and predictable. CRSL is at the sweet spot of this inflection point for a number
of reasons.
One, we have technical capabilities to provide an array of digital
media services such as in-transit advertising, ambient media and in-transit Wi-Fi
services, among others.
Two, there is a growing customer preference to work with companies
that provide complete end-to-end digital media services. CRSL provides the widest
complement of services, ranging from concierge services to in-transit advertising
services.
Three, we have restructured our presence across strategic business
units that makes it possible for these businesses to be provided with adequate resources
to grow sustainably on the one hand and be accountable in terms of deliverables to the
overall company on the other. As part of this reorganization, we migrated from just
another IT services company to a digital media services company with a focus on the
government sector.
Four, the growth that could accrue from this point onwards for all
the reasons I
have mentioned above can be addressed adequately with our current
resources or with minimal resource addition. Over the last few years, we have invested in
people and processes while consolidating our presence. We feel there is still operating
headroom to enhance our technological and people productivity.
As we navigate the dynamic business environment, we remain steadfast in
our mission to deliver value to our stakeholders and contribute meaningfully to India
emerging as a digital economy. Looking ahead, our vision for growth centers around
exploring new services within the realm of concierge and digital media services. We are
dedicated to enhancing our service offerings, investing in business development, and
forging strategic partnerships to drive innovation and meet the evolving demands of our
customers.
On behalf of every member of the CRSL family, we thank our stakeholders
for the trust they have reposed on us. We are truly grateful for their sustained
cooperation throughout our journey and would continue to direct our efforts to be
well-positioned to capitalize on the opportunities that lie ahead. I am confident that
with your continued support and our collective efforts, Cressanada Railway Solutions
Limited will continue to thrive and create sustainable value for all stakeholders.
Our journey has just begun, and with your continued support, we will
achieve even greater heights.
Together, we will continue to achieve greater heights.
Thanks
| Arun Kumar Tyagi |
| Cressanda Railway Solutions Limited |