Dear Shareholders,
I have great pleasure in welcoming you all to the 26th Annual General
Meeting of Virtual Global Education Limited for the Financial Year 2018-19 being held here
today. The Directors Report and the Audited Financial Statements for the Year ended 31st
March 2019 are already with you and with your permission, I take them as read. I thank you
for your esteemed presence, continued trust and unwavering support extended to the Company
all these years. I wish to express my deepest gratitude to our Founders, Partners, Clients
and CENTRAL AND STATE GOVERNEMENT OF VARIOUS STATES we operate in, for their guidance,
advice and support. It's their goodwill that renews our belief in ourselves and our
potential to be more.
During fiscal 2018, a period of profound economic and political change, we continued to
build our capabilities – people and services – to serve our clients and grow the
value we deliver to them.
Dear members, we are at a defining moment in the history of the educational industry.
The rapid digitization of everything around us is disrupting entire industries in an
irreversible and profound way. And the opportunity for us, as this revolution accelerates,
is two-fold. Our endeavor is to deliver our traditional services through so that our team
can focus on higher value work and on innovating for our clients.
Global business is transitioning to a new age where technology is playing a central
role in the growth of every industry by delivering a superior customer experience anytime,
anywhere. The power of a business now depends on its ability to manage the transition from
process maturity to data maturity. The commitment and passion of a diverse employee base
helped your Company exhibit strong leadership during this period, against the backdrop of
immense volatility in our key market specialized talent.
Your Company is in a growth industry where the demand for education continues to
expand. Today we are entering a new world where technology or education is now defining
what the business can or should do.
We, in the Board, earnestly believe that it is our duty to listen to every shareholder,
introspect and further improve our performance or take corrective actions. When comments
are made by the Founders, we consider them even more seriously and respectfully, as we all
recognize that we are but Trustees of an extraordinary institution that has been the
result of the labour, foresight and genius of an extraordinary group of Founders. The
Board has continuously engaged with all major investors, in particular with the Founders,
and we will continue to do so. The Management and the Board commit to you to further
accelerate our efforts to navigate the Company through these daunting changes and deliver
performance, worthy of its proud heritage.
On behalf of the Board of Directors and the Management, I would like to place on record
your Company's sincere appreciation of the support extended by the Government and their
agencies, term lenders & working capital bankers and the continuing patronage and
support of all stakeholders.
Thank you,
(Dr. Piyush Gupta)
Chairman