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8K Miles Software Services Ltd.

BSE: 512161 Sector: IT
NSE: 8KMILES ISIN Code: INE650K01021
BSE 00:00 | 20 Apr 8K Miles Software Services Ltd
NSE 05:30 | 01 Jan 8K Miles Software Services Ltd
OPEN 22.85
PREVIOUS CLOSE 23.30
VOLUME 77899
52-Week high 126.80
52-Week low 22.85
P/E 17.92
Mkt Cap.(Rs cr) 71
Buy Price 23.30
Buy Qty 600.00
Sell Price 23.30
Sell Qty 500.00
OPEN 22.85
CLOSE 23.30
VOLUME 77899
52-Week high 126.80
52-Week low 22.85
P/E 17.92
Mkt Cap.(Rs cr) 71
Buy Price 23.30
Buy Qty 600.00
Sell Price 23.30
Sell Qty 500.00

8K Miles Software Services Ltd. (8KMILES) - Chairman Speech


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Company chairman speech

Dear Stakeholder

I'm pleased to state that fiscal year 2018-2019 was a great year for us for manyreasons and I take this opportunity to thank all of you for the confidence you have placedon us. Your company has been relentlessly focused on Healthcare and Life Sciences (HCLS)applying Cloud transformation DevOps Automation Next-Gen managed services and advancedtechnologies for modernizing healthcare IT.

The HCLS (Healthcare and Life Sciences) industry is one of the largest verticalindustries comprising 10% of global GDP. The global addressable market for cloudinfrastructure and solutions in the HCLS industry can be estimated using relative IT spendto an estimated TAM of $10.1B annually. With respect to Pharma industry the estimatedmarket size is $1.15T by 2021 where new innovation has been fueled by modern technologiesprimarily public cloud infrastructure and tooling.

We continue to differentiate ourselves as an IP centric and domain specificplatform-driven model for Cloud Transformation and Managed Services for non-linear revenuegeneration as opposed to larger enterprises who are still entrenched in people-centriclinear revenue model.

• We acquired several new enterprise customers in the year 2018 and early 2019.This has positioned us well for achieving our vision of doubling our growth by 2021 andrealize our aspiration of becoming the go-to partner for the world's top 25 healthcare andlife science enterprises

• Launched numerous Bots over our flagship CloudEz platform startedDevops-as-a-service to differentiate ourselves in the managed services marketplace;enhanced Multi-Domain Identity Services Platform (MiSP)to help Cloud providers expandSoftware-as-a-Service offerings with Single Sign-on with hundreds of additional SaaSplatforms. Your company launched a new EzMFA (Multi Factor Authentication) offering on thecloud. All these initiatives are clearly positioning us as a partner of choice for ourcustomers and provide significant competitive advantage

• Introduced 8K Miles Health for a patient-centric EHR solution based onBlockchain - this will be a big disruptive initiative and we are working with an USeast-coast based hospital

• Your company is seeing positive traction selling advanced cloud transformationservices including DR and Backup solutions on public clouds such as Amazon Web Servicesand Google Cloud to the existing healthcare customers who were brought by CornerstoneAdvisors

We are thrilled to announce that 8K Miles Software Services is now an AWS PremierConsulting Partner (one of the top 40 partners in North America among many thousandpartners in the AWS partner ecosystem). To further enhance our market position weachieved top tier partner status for AWS Healthcare and Life Sciences (one of thetop 6 partners to be showcased by Amazon Web Services at HIMSS 2019 conference in Orlandoin February 2019).

This puts us in the top 0.25% category ofpartners within APN (AmazonPartner Network) partner ecosystem. This Premier Partner status is awarded to globalorganizations that have invested significantly in their AWS capabilities have extensivecustomer experience in deploying on AWS have developed innovative unique automatedvertical specific solutions on AWS have a strong base of trained and certified AWStechnical consultants have many AWS Competencies have expertise in project managementand have a healthy revenue-generating business on AWS exceeding expectations on drivingpublic cloud consumption.

The auditors of the Company have made a few qualifications observations and disclaimerwith respect to accounting internal control and compliance in the Company. However thecompany has provided its clarifications and observation to the auditors and has alreadyprovided necessary responses and documentation to the auditors in this regard. YourCompany has resolved to take various measures to strengthen the Compliance and Governanceto avoid such qualifications in the future.

We shall be zero tolerant on any lapse in compliance and governance related matter. Wehave put a system in place for effective implementation of applicable statutoryregulations. A robust internal control process driven by professionals internally andvalidated by independent external consultants will be in place at the earliest. Themanagement is committed to improving its compliance governance and processes to enhanceshareholder value.

As a whole the year has been very exciting for us and we would like to continue ourjourney with similar zeal and energy in the coming years. I extend my sincere thanks toall. As one of the very few Next-Gen Cloud MSPs for highly regulated industries I amexcited by the growth in our Life Sciences and Healthcare divisions.

Once again I take this opportunity to thank you all for having reposed your faith in8K Miles Software Services Ltd. and assure you that your confidence in us provides usthe energy to scale new heights.

Thank you.

Yours Sincerely

Suresh Venkatachari

Chairman & CEO