Dear Stakeholders,
The past year has marked significant success and substantial growth for
eMudhra across multiple fronts financial performance, employee wellbeing, and product
innovation. Our dedication to delivering secure digital identity and trust solutions has
positioned us prominently in a rapidly evolving global landscape. With the global Identity
and Digital Trust market projected to grow at a compound annual growth rate (CAGR) of over
15%, reaching approximately $100 billion by 2028, and the eSignature market anticipated to
surpass $25 billion within the same timeframe, the strategic importance and relevance of
our offerings continue to grow stronger and more critical globally.
Leveraging these global market trends, eMudhra has successfully
expanded its footprint significantly, establishing robust operations in new geographies
such as the Philippines and Malaysia in the Far East. Our concerted internationalization
efforts have yielded impressive results, with international markets now accounting for the
majority of our revenues. Notably, the United States alone now contributes around 40% of
our total revenue, highlighting our strengthened global presence. Furthermore, our
sustained investments and focus in the Middle East and Africa regions have continued to
show robust year-on-year growth, as we introduce an expanding portfolio of products
catering to specific regional demands. In India, our BFSI sector initiatives, such as the
simpli ed and centralized eStamping module integrated within emSigner and eSign, have
gained substantial market share, while we continue to deliver marquee projects with some
of the nation?s largest and most prestigious Government entities. These strategic
developments have culminated in a remarkable milestone, with eMudhra crossing the 500
Crore revenue mark this scal year.
At the core of our sustained growth is our unwavering commitment to
product innovation, driven by continuous investments to ensure we stay ahead of market
demands. Our agship certi cation authority product, emCA, is now fully prepared for the
advent of post-quantum cryptography, future-proo ng trust infrastructure against emerging
threats. Additionally, the launch of
CertiNext has effectively augmented our PKI solutions by seamlessly
integrating public and private trust models, and providing comprehensive certificate
lifecycle automation. emSigner suite has undergone significant enhancements, particularly
in user experience and interface design, broadening its applicability across diverse
industry use cases. Meanwhile, SecurePass has evolved from a simple multi-factor
authentication solution into a sophisticated platform, now addressing comprehensive
converged identity and access management needs. These advances in our product portfolio
underscore our strategic foresight and innovation capabilities, all of which are
underpinned by our motivated and dedicated employees.
Employee wellbeing continues to be a core priority for eMudhra.
Recognizing that engaged employees drive innovation and growth, we have actively fostered
initiatives aimed at boosting employee engagement, community-building, and
interdepartmental collaboration with a formal Employee Engagement program. The past year
has witnessed various initiatives and events, encouraging a greater communal sense and
enhancing teamwork across different organizational divisions. Additionally, our corporate
social responsibility (CSR) initiatives have significantly impacted our broader community,
providing extensive training and internship opportunities in cybersecurity to numerous
students. These initiatives not only empower aspiring professionals but also strengthen
the cybersecurity talent pipeline, helping young professionals launch successful careers
in cybersecurity.
Looking ahead, we remain committed to driving growth through
innovation, fostering a vibrant workplace, and continuing our positive community impact.
On behalf of the entire leadership team, I extend my deepest gratitude to our employees,
customers, partners, and stakeholders whose dedication, commitment, and trust have been
integral to our journey. With your continued support, we con dently look forward to an
even brighter year ahead, lled with further achievements and continued success.
| Yours Sincerely, |
| V. Srinivasan |
| Executive Chairman |