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Dear Valued Shareowners,
It is my pleasure to share with you our 29
th
Annual
Report for the financial year 2018-19. Growth this
year has been challenging but the year has been
exciting on many fronts. As we look ahead to the
thirtieth year, I am joined by a new leadership
team that is all geared up to lead the Company
through the next phase of growth.
I am excited to have Mr. Christopher (Chris)
O’Connor take over as the Chief Executive Officer
of the Company. Having worked with Chris for
over ten years, I am confident that he will build
on the rich heritage of the Company and further
establish business, brand, visibility, and respect for
the Company going forward. I am also delighted
to welcome Mr. Sandeep Kalra to the leadership
team.
During the year, our revenue was
`
33,659.41
Million (USD 480.97 Million) and the net profit was
`
3,516.79 Million. In February 2019, we initiated
a share buyback plan to acquire shares from
the market, worth
`
2,250 Million over a period
of six months. On March 31, 2019, the cash and
equivalents were at
`
14,798.26 Million.
While acknowledging that this was a difficult
year, we believe that the market for our services
continues to grow and our differentiated offerings
provide us opportunities for sustained growth. In
addition to a new leadership team, we set up growth
and solutions teams focused on establishing
leadership and creating unique differentiation.
These initiatives have started to deliver targeted
growth for the business.
Digital transformation continues to be the core
theme for our customers. Businesses are under
pressure and need to improve efficiency and
effectiveness to compete against technology
savvy upstarts. Businesses realize that to present
a new face to their customers, they must leverage
technology, become agile and flexible so that they
can respond decisively amid rapidly changing
conditions. By setting up systems that are software
driven, businesses get the opportunity to present
different personalities by simply reprogramming
the components that hold the business together.
Software systems use agile processes and are
built and deployed iteratively and incrementally.
Incumbents are investing in infrastructure to
facilitate the integration of large volumes of
existing data to intelligently drive actionable
insights. Our heritage of working on product
development for technology companies has
provided us an opportunity to partner with
technology leaders and bring this technology to
our customers. We continue to add new partners
which allows us the flexibility to express different
personalities to our customers.
We pride ourselves in being responsive to
customer needs and requirements. Our experience
in product engineering has become relevant to
enterprises on the digital transformation journey.
Our Software 4.0 methodology helps build robust
software that can be deployed in complex and
rapidly changing environments. Our work will
continue to shape the future of software driven
businesses while we continue to navigate through
the technology shifts.
Our customers and partners continue to be our
coaches and mentors and we appreciate their
support and guidance. Customers have encouraged
us to go beyond technology solutions to delivering
business value. We responded by creating new
business models and by extending our growth
and solutions teams with domain experts in three
industry segments – banking & financial services,
healthcare & life sciences, and the industrial sector.
We believe that strong technology capabilities are
fundamental to delivering business value and we
alsocontinueto invest intechnologyareas likecloud
computing, data & machine learning, and identity
& security.
I am proud to share that, in May 2019, our total
strength crossed 10,000. This is a significant
milestone for the Company. With 29% women,
our global population of 10,000 is diverse and is
spread over 18 countries across the world.
From the
Chairman’s Desk