CHAIRMAN'S MESSAGE FOR 25TH ANNUAL GENERAL MEETING OF THE COMPANY
On behalf of the Board of Directors of M-Tech Innovations Limited, have great pleasure in extending you all a warm welcome to our 25th Annual General Meeting. Our historic success of Twenty Five Years of this journey would not have been possible without the unstinted support and cooperation of all you stakeholders. On behalf of the Board, I would like to place on record my deep sense of gratitude to each and every one of you. The 25th Annual Report of the Company has reached all of you which shall reflect our operational and financial performance as well as our achievements in the sustainability area. I would now like to take a few minutes to take you through the highlights of the year
During the year, as per RBI mandates to replace all Magstrips cards with EMV cards your Company has participated in various new tenders and has been awarded with various tenders for issuance EMV cards.
In spite of high competitive environment and tough market conditions has reported increase in sales by 27.7 % as compared to last year. The profit of the Company has increased by 364% as compared to last financial year.
The Company has successfully got annual renewal from MASTER, VISA and RUPAY. The Company has also successfully certified as ISO:27001 for Information Security Management System.
Human Resource Development & Quality Culture
Your Company is giving continuous training to employees for improving quality standards of working for overall development of oneself vis-a-vis the Company. We always believe Human assets are the main asset of the Company and always had focused for continuous improvement for them. The Company had develop a module, Centralized Management monitoring System (CMMS) by which all employee can give their suggestion(s) and its implementation can be monitored.
Your Company has been continuously penetrating R & D on its products & has been continuously extending customized solutions to its customers as particularly mentioned in the Directors Report.
The Company had develop applications i.e. CMMS/FAP/Paperless by which the use of the paper has reduced significantly. The Automotive Division of the company has been certified by Confederation of Indian Industry (CII) to achieve "GreenCo Golden Award" for its paperless applications and operations.
On this occasion, I would like to express my gratitude to State Bank of India, & Vishweshwar Sahakari Bank Limited and their officers & staff for all their facilities and services offered to us. I would like to place on record the sincerity, hard work, commitment and dedication of the entire M-tech team and the invaluable support extended to the Company by the Shareholders, Vendors, Suppliers, Customers, Consultants and other stakeholders. I would also like to place on record the appreciation of Can bank Venture Capital Fund Limited.
I thank all my colleagues on the Board for helping me in creating good governance culture across the organization and fulfilling the responsibilities of Board.
I would also like to reiterate that we are cautiously optimistic about the year ahead despite continuing volatility across the nation. We continue to deliver on our strategic commitments which drive operational performance and create value for our shareowners as well as our communities. We remain strongly committed to creating shared value with all of our stakeholders.
Vijay M. Gandhi,
Chairman & Managing Director