Your Company, Datamatics Global Services had a fairly good year during 2015-16. Our revenues, including our wholly owned subsidiaries grew by about 12%. Our consolidated revenue remains flat, marginally lower by 1%, primarily due to drop in revenue of our joint ventures / (not wholly owned subsidiaries) which include Cybercom Datamatics, CIGNEX Datamatics and Lumina Datamatics.
The current flavour in the IT industry is that of Robotic Process Automation and Artificial Intelligence. The media is replete with articles of these two subjects. I am pleased to inform you that your Company had foreseen the impact of these two technology waves and have been working on both of them for several years. Consequently, we believe that we are technologically ahead of our competitors in this area. These two technologies have been embedded in several of our software products including i-Q and i-Bridge.
To serve our customers better and provide them the competitive edge, we continue to explore opportunities to acquire products / divisions / companies in the space adjoining our business.
In line with our strategic focus to help our customers in their ‘Data to Intelligence'''' journey, we acquired 1Key suite of products from MAIA Intelligence in the Business Intelligence space. This product has been rechristened as ‘nSights'''' suite. It caters to strategic, tactical and operational data analysis and reporting needs of multiple vertical industries. It also provides dashboards for smart devices.
We also acquired Appear IQ, a cloud based product in the Digital Eco Systems space, which we have rebranded as ‘iMobile''''. It enables Mobile Application Development and manages multiple applications in real -time.
I would also like to inform you that in July 2016 we acquired additional equity in Lumina Datamatics, a company in the Publishing BPO and e-Retail BPO space. This company has consequently become a 100% subsidiary of your Company.
We have received a very large number of awards this year, significant among them is IMC IT Product Award for i-Bridge, our smart robotic process automation software. Your Company has also received the CIO''''s CHOICE AWARDS 2016 for two of our products i-Q and nSights. Lumina Datamatics recently won the Corporate Excellence Award at the 12th Indo American Corporate Excellence Awards.
Your Company has taken a conscious decision to provide services to Indian corporates, particularly, banks and insurance companies, which should also benefit from the company''''s knowhow, acquired in the international arena.
To support the ever growing business of our global clients, we recently commissioned a 22,000 sq. ft. facility in Puducherry. This Center of Excellence offers state-of-the-art facilities and is fully compliant with ISMS standards. The center has a seating capacity of 1200 employees.
Your Company continues to remain financially prudent. CRISIL has given Datamatics an A1 credit rating. We are committed to delivering value to all our stakeholders with the highest standards of governance.
I wish to sincerely thank our shareholders and employees for their continued support.
Dr. Lalit S Kanodia Ph.D., M.I.T. (USA)
On behalf of the Board of Directors, I am happy to present the 28th Directors'''' Report of your Company with the Balance Sheet and the Statement of Profit and Loss for the year ended March 31, 2016.