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क्विक हील टेक्नोलॉजीज

बीएसई: 539678  |  NSE: QUICKHEAL  |  ISIN: INE306L01010  |  Computers - Software

खोजें क्विक हील टेक्नोलॉजीज कनेक्शन Mar 17
अध्यक्षीय भाषण साल : Mar '19

Dear Shareholders,

Since our inception, 25 years back, we have grown exponentially. Our growth speaks of the support and faith that our employees, stakeholders and the entire Quick Heal team entrusts us with. We envision a bright future and your encouragement only inspires a momentum that pushes us each day to get better in terms of innovation and technology.

§ Performance update_

In 2018-19, we reported revenues of Rs, 3,149 Million as against Rs, 3,183 Million in the previous year, a decline of 1%. The performance was not in line with our expectations owing to a marginal dip of 5% in the retail business and overall muted volume growth of 2%. The Enterprise and Government businesses grew at 8% in Revenues and 11% in volumes despite competitive environment. The customer acquisition has moved up, but average realization per unit is lower so the translation of customer acquisition to the revenue has not moved up as much. Our EBIDTA strengthened by 6% from Rs, 1,203 Million in 2017-18 to Rs, 1,279 Million in 2018-19. We also reported healthy EBIDTA margins of 41%, an increase of 281 bps over the previous year. With no interest cost and lower depreciation, PAT increased 11% from 830 Million in 201718 to Rs, 918 Million in 2018-19. The satisfactory profi ability levels were an outcome of our relentless cost rationalization efforts during the year.

We maintained our leadership position in the retail segment with 30% market share. During the year 2018-19, we witnessed 2% increase in the total retail licenses sold and improved our renewal ratio to approximately 40%. We have built the largest channel eco-system selling security products and solutions. Thanks to their untiring efforts that helped us create the desired brand visibility. It also helped us improve acceptability of our IT security products across the households and business users.

| Economic update_

India posted an annual GDP growth rate of 6.8% during the financial year 2018-19. Various economic reforms undertaken by the Government (improvement in Ease of Doing Business, opening to foreign direct investments, the push for infrastructure development and a stable and decisive policy environment) underpinned this economic growth. This enabled India to stand ahead of China while retaining its tag of the ''world''s fastest growing economy''. The financial sector reforms with efforts to reduce public debt remained essential to secure the economy''s growth prospects. This was further supported by strengthening and stabilizing goods and services tax compliance. With Government''s push for digitalization, India is swiftly moving towards a digital economy.

| Relevance of IT security in today''s digital world

As we grow increasingly dependent on connectivity, digitalization is becoming a part of our daily lives. Within just a few years, the internet has consolidated itself as a very powerful platform. It has forever changed the way we communicate, entertain or even do business. The internet has given a globalized dimension to the world with everything available at our fingertips. In the wake of digitalization, words like digital business and digital governance are catching up across multiple industries. Drivers such as social media, cloud, analytics, mobility along with IoT (Internet of Things) and security, drive every enterprise to transform and be successful in the changing economy.

But just like every coin, digital too has a dark side in the form of cyber threats.

| Increasing cyber crimes_

Cybercriminals and malicious threat actors threaten the security of the digital economy, making it fragile with each attack. They expose the internet world to vulnerabilities with increasing magnitudes of threats, resulting in infecting and hijacking devices and networks. Today, cybercrime is an organized industry where cybercriminals work with the intent of making financial gains and other malicious motives. The ever-increasing mobile workforce and emergence of ''bring your own device'' (BYOD) work culture presents unprecedented challenges to the cyber security ecosystems of the businesses.

| Emergence of smartphones_

Increasing smartphone usage has led to a higher dependency on the internet and technology. Besides, abundant availability of hi-speed data and connectivity at affordable price points are gradually changing the way a user consumes content and absorbs information. Customers engage across an increasing number of touch points and marketing efforts are also designed keeping these in mind. More and more customers are becoming mobile connected and a good chunk of retail purchases happen online. Under such circumstances, it would only be suffice to say that the internet is an omni-present tool influencing and shaping human behavior while exposing devices to immense cyber security threats.

[Artificial Intelligence (AI)_

In a fast evolving digital world, automation is slowly becoming the norm and a critical differentiator. Soon, smart algorithms, bots and AI tools will become a norm for organizations. AI has been around for several decades but is only now gaining traction. AI''s ability to allow machines to take over the more mundane and repetitive jobs makes it a preferred choice. The flipside to this is the fear that automation will result in cyber threats.

| Internet of Things (IoT)_

T presents organization’s with the opportunity to improve internal efficiencies, provide better customer service, enter new markets and even build new business models. From banks to healthcare, utilities to automotive, manufacturing and logistics, industries and home automation are already being transformed by IoT, and the expectation is that almost every sector will be impacted in the future. This leads to larger scale of connected devices and integration of operations. However, there are loopholes and inadequate security systems which may lead to possible hacking and substantial damage.

| Innovation-driven products and solutions

We take pride in consistently charting innovation in a field that never ceases to evolve. By delivering a true platform and empowering a growing ecosystem of change-makers like us, we provide highly effective and innovative cyber security solutions. This has given us the privilege of securing millions of end points and networks.

A robust cyber security approach requires adequate proactive and reactive measures to identify, protect, detect, respond and recover processes. We have consistently transformed deep threat intelligence and security expertise into security solutions and services for our customers across the globe. Our tailor-made products come with enhanced security features that help increase our product''s acceptability. We introduced new products during the year which include Seqrite Cloud, Secure Web Gateway (SWG), Enterprise Mobility Management Solution (mSuite and MobiSMART) and Quick Heal Home Security (QHHS). Our objective is not just to protect the enterprise with good cyber security hygiene and basic lines of defence, we also aim to optimize the response time to attacks with more advanced tools and strategies. As digital transformation proceeds, cyber security must be an enabling function rather than an obstacle to innovation and change.

Today, we are a prominent and renowned name in the IT security industry. Our brands Quick Heal and Seqrite are now widely accepted across retail, enterprise and Government segments. Our cyber security products and solutions keep our 9 Million users protected and secure 32,900 businesses and enterprises from the potential threats and unanticipated cyber- attacks. Our powerful integration of cyber threat expertise, automated systems and state-of-the-art technology give us the desired edge. Our research operations help provide proactive protection and rapid response that our customers are looking for to safeguard their security, productivity and regulatory compliance.

| Long term goals_

We are well-positioned to leverage our strengths and explore future opportunities by:

- Offering tailored products and solutions to our users, backed by our strong R&D and innovation and deep intelligence on threat landscape

- Focusing on new technologies such as IoT and home security automation

- Penetrating deeper into Tier II and Tier III towns by offering unique value propositions and improved customer experience

- Continue focusing on the manufacturing, BFSI, healthcare and hospitality industries

- Expanding mobile capabilities by monetizing on free solutions for mobile devices and developing products for various platforms

- Emphasizing on international expansions through consistent brand building and marketing effort and exploring opportunities across Africa, Middle East and South East Asia

| Regulations: The way forward_

As society today is getting more and more dependent on technology, cybercrimes are bound to increase. For greater security, private and public companies will have to take the responsibility collectively to ensure safety of their customers'' information and other confidential data. Right data protection and cyber security policies would be the correct step in this direction.

The European Union implemented the General Data Protection Regulation (GDPR), a law for primarily regulating how companies protect EU citizens'' personal data. Under the GDPR law, the Companies are required to diligently comply with the new data protection and privacy requirements. Any failure in compliance will be strictly subjected to stiff penalties and fines. Taking cue from the European Union, India too needed a fresh data protection law, to ensure growth of the digital economy while safeguarding personal data of citizens. Srikrishna Committee was set up to propose the bill on Data Protection which states to introduce a data protection regime that can strike an appropriate balance between protecting the interests of the individuals and the legitimate use of data by State and private businesses. Also, the Government of India has proposed Digital Information in Healthcare Security Act (DISHA) that provides tougher privacy and security measures for digital health data. Going ahead, the awareness related to various regulations is likely to increase the demand for robust cyber security and data protection products and solutions.

[Closing thoughts_

In conclusion, I am proud of the tremendous progress we, as a Company, have made in the last 25 years. It''s a result of independent thinking and extensive expertise and adaptability with respect to people and the ambition to create innovations which provide added value for customers. These values have been the cornerstones of our success and will continue being so in the future as well.

I would like to express my heartfelt thanks to all those who have played a part in the journey of the Quick Heal family. I must thank our dedicated employees, channel partners, stakeholders, investors and shareholders for their continued support, loyalty and confidence entrusted upon us. Without them, this journey would not have been possible. I assure you our relentless focus and hard work for many years to come. We will continue to look forward in securing the digital world while creating tangible value.

Best Wishes,

Kailash Katkar

स्रोत: रेलीगरे टेचनोवा

न्यूज़ फ़्लैश

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