Source : htt p://ww w.bseindia.c om/x ml-data/corpfiling/announcement/Vishal_Information_Technologies_Ltd_061009.pdf
Read Vishal`s Chairman Speech at AGM.
1. Vishal has grown into a multifaceted ITeS/BPO company, covering up a range or IT enabled / BPO Services with a consolidated revenue run rate expected to go beyond INR 1 billion for the financial year ending March 2010. This will be without any acquisition in Europe.
2. Currently company has 2 subsidiaries which are involved Fund Accounting services for Hedge funds and other subsidiary is CoralHub.
3. Coralhub:
Successful launch of CoralHub.c om The company`s total organic turnover will cross INR 1 billion and projected profit of INR 250 million FY09 to 10.
Initial Collection of 3 million Books, will increase 6 million before the end of the calendar year.
Making CoralHub.c om one of the Asia`s largest online book store Catering to the INR 35 Billion Indian Book Market.
4. Another Subsidiary Company:
The company is actively considering to invest surplus money in businesses which has high level or returns either by itself or through another subsidiary. The Board will come to the shareholders for their permission as and when required.
5. Acquisition of European Digitization Company.
Company is in the final stage of acquisition with Swedish company who are involved in purchase invoice processing. They are having fantastic customer base spread over Sweden, Norway, Finland & Denmark. The company is leading service provider to newspapers and libraries across Europe. Vishal will get substantial benefit from this acquisition by way of outsourcing.
With this acquisition in place, the turnover of the company will go beyond INR 1.5 Billion.
Concluded by him :
We are committed to value and enrich your wealth. Your company is positively moving in the right direction and will continue its onward into next decade.
Jalmun you need glasses or psychiatric care. Dont you realise that by posting your sell messages on every site, without regard to the share being discussed, you have earned a very negative name. MOst readers just skip you posts
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