Letter to Shareholders
Dear members
On behalf of the Softsol Board of Directors, I am happy to welcome you to the 27th
Annual General Meeting of your company. Thank you for your presence here today, and for
your continued support and goodwill that is critical to the success of our company.
The Indian IT industry is expected to witness a10-12% annual growth. Over the past
couple of years, the Indian Government has been constantly stressing on the importance of
providing online services and the resultant benefits. As a result, the Digital India
programme was launched and several government services are now being transformed online.
The initiative is integrating the government departments and the people ofIndia. The
adoption of key technologies across sectors spurred by the ‘'Digital India
Initiative" could help boost India's Gross Domestic Product (GDP) by US$ 550 billion
to US$ 1 trillion by 2025.
We are developing futuristic, cost-effective and relevant IT processes. As the business
takes the quantumleap towards Digitization we help them in executing processes and
mitigate the risks innate to the transformation.
We will continue to deepen and widen our knowhow to create differentiated and
technology-enabled processes for our discerning clients across geographies. We will
continue to work with our clients as strategic partners in their journey towards
transformational growth in a largely volatile business landscape. Innovation will remain
at the center stage of our global operating strategy to deliver sustainable value,going
forward.
During the year under review, your Company recorded consolidated revenues of Rs 38.10
crores and achieved net profit of Rs3.53 crores for the year.
We hope to review the company situation and determine the best course of action to
continue to find ways to improve our financial performance and offer liquidity to our
shareholders. We will make conscious efforts to focus on IT market in India and also other
opportunities available.
Before I end my note, I would also like to thank on behalf of the Board of Directors
and Management-our shareholders, customers and business partners for their loyalty and
support. I would also like to express our gratitude to our employees for their trust.
I am confident that our company will do well in the coming years.
Sincerely Yours
Srinivas Rao Madala
Chairman