It gives me great pleasure to welcome you all to the 27th Annual General Meeting of Accelya Kale Solutions Limited. The Director’s report, Auditors report and audited accounts with notes thereon are with you for some time and request your kind permission to take them as read.
This year has been a period of significant growth for your company for both revenues and profit:
1. Consolidated Net sales for FY 2013 grew 39% over the previous financial year standing at Rs. 304 crores.
2. Consolidated Net profit was at Rs. 84 crores, more than double compared to last financial year.
The revenue growth was facilitated by new customers going into production during the year as well as increased transaction volumes from existing customers. The increase in profitability is due to our transaction-based business model, supported by the strengthening of dollar against the rupee.
Airline business is very complex and competition from other service providers is intense. Therefore, we continue to focus on innovation, increased productivity and quality. I am pleased to share that we are on track to achieve our vision of becoming a leader of integrated suite of financial and business intelligence solutions to airlines.
For FY 2013, we will be paying out a sum of Rs.70 per share (including the proposed Rs. 40 per share) as dividend to our shareholders. This reflects our ability to generate free cash on an on-going basis and, as a matter of policy, if there are no better avenues for investment we shall keep returning the cash to the shareholders in the form of dividend.
Your company once again got featured in the prestigious list of Forbes Asia’s 200 ‘Best under a Billion’ Companies, 2013. Only 19 Indian companies made it to the list out of a total of 15,000 Asian listed companies analyzed.
To conclude, this again has been a good year all around and we hope to continue the momentum in the coming years.
I thank our stakeholders – Clients, Colleagues and business partners for the constant encouragement and support throughout the year. I also like to record the appreciation for the efforts of all the colleagues at Accelya Kale for their total dedication and hard work.
Accelya Kale Solutions Limited