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Sify Technologies Limited (SIFY)
F2Q2013 Results Earnings Call
October 17, 2012 8:30 AM ET
Christopher Chu - Grayling Investor Relations
Raju Vegesna – Chairman
Kamal Nath - Chief Executive Officer
MP Vijay Kumar - Chief Financial Officer
Previous Statements by SIFY
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As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Christopher Chu. Thank you, sir. You may begin.
Thank you, Operator. And just a small, I mean, it’s our Financial Results for the Second Quarter of Fiscal Year 2013. I'd like to extend the warm welcome to all of our participants on behalf of Sify Technologies Limited. I'm joined on the call today by Raju Vegesna, Chairman; Kamal Nath, Chief Executive Officer; and Mr. MP Vijay Kumar, Chief Financial Officer of Sify Technologies.
Following our comments on the results, there will be an opportunity for questions. If you do not have a copy of our press release, please call us at 646-284-9400 and we'll have one sent to you.
Alternatively, you may obtain a copy of the press release at the Investor Information section on the company's corporate website at www.sifycorp.com.
A replay of today's call may be accessed by dialing in on the numbers provided in the press release or by accessing the webcast in the Investors Section of the Sify corporate website.
Some of the financial measures referred to during this call and in the earnings release may include non-GAAP measures. Sify's results for the year are according to International Financial Reporting Standard or IFRS, it will differ somewhat from the GAAP announcement made in previous years.
Our presentation of the most directly comparable financial measures calculated and presented in accordance with GAAP and a reconciliation of such non-GAAP measures and other differences between such non-GAAP measures and the most comparable financial measures calculated and presented in accordance with GAAP will be made available on Sify's website.
Before we continue, I’d like to point out that certain statements contained in the earnings release and on this conference call are forward-looking statements rather than historical facts and are subject to risks and uncertainties that could cause actual results to differ materially from those described.
With respect to such forward-looking statements, the company seeks protection afforded by the Private Securities Litigation Reform Act of 1995. These risks include a variety of factors, including competitive development and risk factors listed from time to time in the company’s SEC reports and public releases.
Those risks are intended to identify certain principal factors that could cause actual results to differ materially from those described in the forward-looking statements, but are not intended to represent a complete list of all risks and uncertainties inherent to the company's business.
I'd now like to introduce Mr. Raju Vegesna, Chairman and Managing Director of Sify. Raju?
Hey. Thank you, Chris. Good morning. Thank you for joining us on the call. For the last two quarters we have consistently recreated our focus on Managed Services, our aggressive pursue of SME/SMB market and the important government services market.
A couple of week back the Indian government has increased the permissible FDI in several industries, including retail, insurance, et cetera. These announcements have been warmly welcome by economics and the industry.
With these positive changes, our industry would look to expand Sify and included players we’ll also be need to invest in IT to meet the challenges of greater competition. This cause for a robust network and connectivity, and we are already seeing the first signs of demand.
Our second area of focus the SMB market is the fastest adaptor of new technologies like Cloud services. The advantage is they see from working with Sify at the cost of adaption and speed up adaption backed by their confidence in our delivery capability.
In a growing number of cases we are working with smaller enterprise clients and projects from round off, building a robust [Managed Network] has brought us to the attention of government who are constraint by the absence of network to roll out social welfare measures.
It is this network that largely responsible for us building the largest network integration contract to date. We are seeing various signs of market recovery. Our corporate distributor is to take the advantage of this event.
Now, let me introduce you Mr. Kamal Nath, who has joined us recently as a Chief Executive Officer. Kamal is a veteran of IT industry, have spent a long time in a leadership role with one of the India’s major services player. Kamal will drive the next phase of the growth the Sify while laying out the foundation what we call Sify 3.0, the captive and delivering the results around the same.
Let me introduce Kamal. Kamal?
Yeah. Thank you, Raju, and good morning, everyone. I’ve just joined Sify two months back and as I understand, during my last two months, Sify has all the individual strength, as Raju was pointing out to be a broad based IT Solutions and Services player.
Around the infrastructure service provider business model which currently existed with the company and coupled with application services capability which is also existed with our organization today.
If I analyze, our growth till today was primarily led by network bandwidth and data and networking services. However, I see the next growth drivers to be led by solutions and services portfolio, while we will be leveraging results of the platform.