Route Mobile Limited (ROUTE) Earnings Call Transcript & Summary

Good afternoon all. On behalf of the Board of Directors and the entire RML family, I Sandipkumar Gupta, Chairman of the company, extend a very warm welcome to all of you to the 19th Annual General Meeting of Route Mobile Limited. This meeting is being held through audio/visual means in accordance with the circular issued by the Ministry of Corporate Affairs and SEBI. Participation of members through video conference is being recorded for the purpose of quorum. As per applicable MCA circular, no physical attendance of members, the requirement of appointing proxies is not applicable. As the requisite quorum is present, I now call the meeting to order. I'm participating in this meeting through video conference from our company's registered and corporate office in Mumbai. Before I start the main proceeding of the meeting, let me start by introducing my colleagues on the Board and the KMPs attending this meeting. Along with me attending this meeting from our corporate office in Mumbai are: On my right, Mr. Rajdip Kumar Gupta, Managing Director and Group CEO of Route Mobile Limited; and seated next to him, Mr. Rathindra Das, Group Head, Legal, Company Secretary and Compliance Officer. On my left, Mr. Arun Gupta, Independent Director and Chairman of Nomination and Remuneration Committee; and seated next to him, Mr. Suresh Jankar, Chief Financial Officer. Mr. Gautam Badalia, Group Chief Strategy Officer and Chief Investment Relations Officer, is attending this meeting through VC from Salzburg, Austria. I would now like to introduce the Director that is present virtually for the meeting. We have Mr. Sudha Navandar, Lead Independent Director and Chairperson of the Audit Committee, attending from our Mumbai office.

Good evening all.

Mr. Bhaskar Pramanik, Independent Director, Chairman of Stakeholder Relationship Committee of the Board is joining us from residence in Gurgaon.

Good afternoon, everybody.

Mr. Nimesh Salot, Independent Director and Chairman of CSR Committee and attending from his office in Mumbai. Mr. Chandrakant Gupta, Non-Executive, Non-Independent Director, could not attend this meeting due to his personal exigencies. We also have with us representative from Statutory Auditor, Walker Chandiok & Co LLP; and Mr. Dhrumil Shah of Mrs. Dhrumil M. Shah Secretary, [indiscernible] Audit, attending this meeting through VC from Mumbai. In addition, we also have key executive and senior management joining from their respective locations through VC. In compliance with general circular issued by the Ministry of Corporate Affairs, this meeting is being conducted through video conferencing without the physical presence of the member at a common venue. However, the proceeding of this meeting shall be deemed to be conducted at the registered office of the company. Before we proceed, I'm pleased to bring to you notice that in accordance with the provision of the Company's Act 2013 and SEBI listing regulation, the members have been provided the facility to exercise their right to vote by electronic means, both through remote e-voting and e-voting at the AGM. Remote e-voting was made available to all members holding shares as on 15 September 2023, the cutoff date. During the period commencing from Tuesday 9 a.m. IST, 19 September 2023 till 5 p.m. IST on 21st September 2023. Remote e-voting has been blocked on 21st September 2023 at 5:00 p.m. IST. Members joining the meeting through videoconferencing and who have not already casted their votes by means of remote e-voting may vote through e-voting facility provided on the website of NSDL that is, www.evoting.nsdl.com. Members can click on EVEN #125241 to cast their vote. I now request, Rathindra, the Company Secretary, to provide general instructions to the members regarding participation in this meeting and to read the arrangements made for the members.

Thank you, Chairman, sir. Dear shareholders, good afternoon, and welcome to the 19th Annual General Meeting of Route Mobile Limited. I will now take you through the key aspects of this meeting, your participation at this meeting, Q&A session and the voting facility available at this meeting. Members may please note that this meeting is held over audiovisual means and the facility to join this meeting is made available to the members on a first come first serve basis in accordance with the applicable MCA and SEBI circulars. The company has enabled the members to participate at the AGM through videoconferencing facility provided by NSDL. This AGM is also being live webcast on our YouTube channel and members who are not in this meeting room may watch the live webcast of -- from our YouTube channel as well. All members who have joined this meeting are by default placed on mute mode by the host to avoid any disturbance arising from the background noise and to ensure smooth and seamless conduct of this meeting. Numbers may also kindly note that the proceedings of this AGM is being recorded. One representation under Section 113 of the Companies Act 2013, covering in all 50 lakhs equity shares representing 7.98% of the total paid-up capital as of the cutoff date of September 15, 2023, have been received by the company. In compliance with the applicable MCA and SEBI circulars, the notice of the AGM, along with the audited financial statements for the financial year 31st March 2023, together with the Board's and auditor's report have been sent only by e-mail within the statutory period to all the members whose e-mail addresses are registered with the company, the registrar and transfer agent and depositories. As required under the applicable MCA circulars, the company had through, a notice published in the newspaper provided the facility to all those members whose e-mail addresses were not registered to register the same for the limited purpose of receiving the AGM notice along with the [indiscernible] report and the log-in credentials for participating and voting at this AGM. The notice of the AGM was also uploaded on the website of the company and the website of the stock exchanges and the e-voting service provider NSDL. The register of directors and the key managerial personnel and their shareholding register of contracts and arrangements and the certificate from our secretarial auditor relating to the implementation of the company's ESOP scheme 2017 and ESOP scheme 2021 under the SEBI share-based employee benefit and Sweat Equity Regulations 2021, are available electronically for inspection by the members -- the e-voting module made available by the e-voting service provider NSDL. Members who wish to inspect these documents may send an e-mail to the [email protected]. The Board of Directors has appointed Mr. Prakash Shenoy, practicing Company Secretary as a scrutinizer for the e-voting. Based on the report of the scrutinizer, the combined results of remote e-voting and the e-voting done at this meeting, if any, today, will be announced and displayed on the website of the company and will be submitted to the stock exchanges as per the requirements under the listing regulations. Since the AGM is being held through audiovisual means and the resolutions forming part of the notice convening this meeting has already been put through voting through electronic mode, the practice of proposing and seconding the resolution is not required and will not be followed at this meeting. Members may please note that there will be no voting by show of hands as well. The company has received requests from a few members to register themselves as speaker at this meeting. Accordingly, the floor will open for these members for asking questions and expressing their views. The moderator of this meeting will facilitate this session once the Chairman opens the floor for question and answers. Members who would like to ask questions during the AGM may post their queries in the window ask your question as well by mentioning the name and demat account number and folio numbers. It may be noted that the company reserves are right to limit the number of members asking the questions depending on the availability of time at this AGM. In case members face any difficulty, they may reach out to the help line numbers of NSDL. Thank you very much for your attention. I now request Chairman, sir, to continue with the proceedings of the meeting.

Thank you, Rathindra. I'm satisfied that all the efforts feasible under the circumstances have been indeed have indeed been made by a company to enable the members to participate and vote on the items being considered at this meeting. I will first proceed with my statement as is customary. Thereafter, I will move to the business to be transacted at this AGM. After that, Mr. Rajdip Kumar Gupta, our MD and Group CEO, will make a presentation for the members. We will then move to the question-and-answer session. The objective and implementation of the agenda item are set out in the explanatory statement next to the AGM notice. And for the sake of gravity, I'm not going to repeat them. In case members wish to speak any further -- seek any further clarification, they may raise it at the question-and-answer session. Dear shareholder, a very good afternoon to all. I'm delighted to welcome you all on behalf of this team member of the Board to the 19th Annual General Meeting of Route Mobile Limited for the financial year 2022-'23 being held today through videoconference. We hope you and your family are healthy and safe. First of all, belated wishes of blessed and joyful Ganesh Chaturthi and hope you are enjoying the festivity with your family. I would like to extend my heartfelt gratitude to each and one of you for the unwavering faith and support you have shown in Route Mobile. Your trust in us in the -- is the bedrock upon which we build and continue to grow. I hope that you got an opportunity to read our annual report and reflect on our operational and financial performance. Our team's hard work and dedication paid off with 2 prestigious award from ET ascent for best use of cloud service and best enterprise cloud offering. We also achieved a top-tier position in Roku's CPaaS market impact report 2023. This showcases our commitment to excellence, and we are also recognized as an established leader in Juniper's CPaaS competitors leaderboard. Our association with Belgian-based Proximus Group is the beginning of a new chapter for Route Mobile. Rajdip Gupta will talk more about that during the presentation. In the dynamic world of CPaaS, we have captured exciting opportunities that meet evolving customer's expectations. Our financial performance speaks volume, whereas reached remarkable $0.5 billion in annual run rate, which is a statement to our vision and operational excellence. Our annual revenue grew by 78%, far exceeding the projections. Our organic revenue achieved a substantial year-on-year increase of 41%. This strong performance reinforced our position as a market leader and showcase the strength of our business model. I'm delighted to share that the Board was able to declare interim dividend in aggregate of 90% during financial year '23. We have further proposed the final dividend of 20%, subject to your approval today. I would like to express my heartfelt appreciation and gratitude to the entire Route Mobile family -- Route Mobile team, whom we formally call [ RM ] for their unwavering dedication and relentless commitment despite the challenging business environment and uncertainties that lead to such excellent performance. Thank you. On behalf of the Board of Directors, I would like to thank you for taking the time and joining us. Now with your consent, I will go ahead with the flow of this proceeding of the meeting and the business to be transacted at this AGM. Since the notice and the audited financial statements for the financial year ended 31st March 2023, together with Director's and auditor's report have already been circulated to all the members, I take this notice convening the meeting as read. The Statutory Auditor, Mr. Walker Chandiok & Co LLP Chartered Accountant; and Secretarial Auditor, Mr. Dhrumil M. Shah and Company, Practicing Company Secretaries, have expressed unqualified opinion in their respective audit report for the financial year 2022-'23. Since there are no qualifications, observations or adverse comments on the financial statement and matters which have material bearing on the functioning of the company. The said report are not required to be read at this meeting. The same are therefore being taken as read. In terms of the notice of the 19th Annual General Meeting, the following items of ordinary business are to be considered at this meeting. One, to receive, consider and adopt the stand-alone financial statement of the company for the financial year ended 31st March 2023 and the reports of the Board of Directors and auditors thereon. Item #2, to receive, consider and adopt the consolidated financial statement of the company for the financial year ended 31st March 2023 and the reports of the auditor thereon. Item #3, to declare dividend of INR 2 per equity share of INR 10 each fully paid up of the company as recommended by the Board of Directors on the equity share of the financial year ended 31st March 2023. And item #4. To reappoint Mr. Chandrakant Gupta, Non-Executive, Non-Independent Director who retires by rotation and being eligible, offer himself for reappointment. I now request Mr. Rajdip Kumar Gupta, Managing Director and Group CEO, to proceed with his presentation and thereafter, open the question-answer session.

Thank you, Chairman, sir, and good afternoon, shareholders. A warm welcome to all the members attending this 19th Annual General Meeting of Route Mobile. I hope you and family are safe and healthy. Greeting on Ganesh Chaturthi and I pray that Lord Ganesha brings prosperity to your home. I'm going to start my presentation on the company's performance during FY '22-'23. Before I start the presentation, I would like to broadly touch upon some highlights of the year gone by. FY '22-'23 was a year of remarkable financial performance for us. RML recorded a [ signified ] growth of trajectory. We are expanding our product portfolio and enhancing our market presence to explore new possibility for growth through our customized CPaaS solution. We secured a valuable partnership with Coca-Cola, Robi Axiata, Atom, SLT Mobile and Uganda Telecom to name a few. You are already aware of RML's new association with Proximus Group. This strategic decision will enable us to enter, deploy -- enter to a developed market like North America and create synergies with TeleSign. I will continue in my capacity as MD and CEO of Route Mobile and also lead the CPaaS business of the joint entity. My resolve is stronger than ever. I'm happy to share with you that this year, we have taken a step forward with regards to our disclosure practices and widen the coverage of our sustainability report, we have added disclosure in accordance with the task force on climate-related financial disclosure, TCFD. The goal of TCFD is to bring transparency to company's climate-related risk which enables more informed investment credit and insurance underwriting decisions. It can also help facilitate the transition to more sustainable low carbon economy as investors are increasingly pursuing ESG integration in their investment decision. TCFD has already become a part of the regulatory framework in many jurisdictions, including European Union, Singapore, Canada, Japan, U.S. and U.K. RML being a globally spread out group has adopted this disclosure as a part of growing effort to address global climate change awareness. I believe that our reporting practice is consistent with GRI as well as TCFD reporting principle in all material respect. The same was also sent to all the shareholders, along with annual report by e-mail. I hope you would enjoy reading the report and look forward to your feedback in future. I'm extremely positive and excited about the next chapter of Route Mobile. I thank all customer, operator and partner for trusting Route Mobile. I'm confident that our collective effort will continue to create value for our investors and shareholders. I look forward to your continued support ahead. Thank you. Now I'm requesting the moderator at NSDL to put up the PPT slide for display. So before I start, I'd just like to share some input. This is the 20th year of our operations, and it's been 2 decades [indiscernible] brothers build this company from where we started initially and to become one of the global leader in CPaaS ecosystem globally and one of the largest in Asia is a commendable job by our team members, our tech team, our sales team and entire organization to create a story to come out of India and become a global MNC within 20 years, which I'm really proud of. As an organization, we always believe in our people. We always believe that people can create value and people can create stories. RML itself is a great story, something coming from India to the global market. The product and offerings which we have built in this market has been served to the global tech giants like Google and Facebook as of today. The first slide talks about our platform capabilities and what exactly we have built and it talks about our connectivity, it talks about our global footprints and our infrastructure as well as our ESG leadership. Can you move to the next slide, please. Some of the key aspects of the market sizing as far as the CPaaS is concerned, there are multiple reports we have seen in the last so many years that CPaaS itself is growing in different markets at a very high rate and the kind of potential we carry as a company in next 3 to 5 years, especially in the emerging market is going to be phenomenal. As a company, we are very bullish about the products and all other products which we have built in-house and some of the companies which we acquired in the past has a huge potential for Route Mobile in coming years down the line to make sure we become one of the largest CPaaS player globally, plus we have a revenue dream to touch down $1 billion revenue in very soon, next 3 to 4 years down the line. As far as the market sizing is concerned, I think there's multiple touch points about our net revenue run rate, 124% revenue retention along with our revenue in last year, if you see, as a company, we have closed INR 3,500 crore as a revenue, which is phenomenal. And with the current run rate, we are already talking about over $0.5 billion revenue this year. But as per my guidance to the market, I believe that we may overachieve our 20% guidance this year also because we have a very strong pipeline, along with strong customer support. Next slide, please. This is a complete journey of Route Mobile, a bootstrap company based out of India in 2004 to be a listed company in India in 2020 and now being partnered with Proximus Group as one of the strongest and large CPaaS player globally and MNC. Go to the next slide, please. This slide talks more about our global presence in different markets. It is not about, we are present in one particular market. We are present in multiple markets, operate from 20 different countries, and we have a local sales team and a local team present in all these markets to serve the local customer. We at Route Mobile always believe in 1 single mantra, be local, serve local, which means that I need to focus more on global enterprise, along with the local enterprise as well because there is a lots of huge potential we see from every market we go, the local enterprise carry lots of volume as well as revenue potential. Keeping that in mind, we have extended our presence in various markets, including Europe, Latin America or Africa. Next slide, please. As a tech founder, it is very important for me to think about innovation. And probably keeping that in mind, we have started our Route Lab 1 year back in Bangalore. And idea of Route Lab is to build something or innovate something within in-house rather than keep on acquiring companies. I'm proudly -- I can probably mention that 2 products which is Roubot and TruSense is a product built within Route Lab, and we are working on some more solutions, including Ocean, which is definitely going to be part of R&D lab, which is called as Route Lab. We are very focused on new things, which we are working as a part of our Route Lab initiative, and blockchain is definitely one of the area where we want to focus on. And as we speak, we already have multiple initiative on blockchain, including the antiphishing solution as well as the DLT solution, which is already there, and we are in talks with multiple operators to do a POC on these kind of solutions. Next slide, please. The growth trajectory of Route Mobile is undoubtedly, everyone has seen in past so many quarters. We, as a company, I as a CEO of Route Mobile, always overachieved my guidance, whatever I have given in the last 3 years post-listing. And I promise to all my shareholders that in coming years also, I will work hard to overachieve my numbers or guidance, which I have given to the market and to my shareholders because I always believe the trust of my shareholders are the key, and I need to make sure I deliver more than as per their expectation. Next slide, please. Diverse customer base is very critical for our growth. And keeping that in mind, we have a very strong sales team to focus on various vertical rather than just 1 vertical. I think from last so many years, our team has done fantastically well to diversify our entire portfolio of customer base in various verticals, and that is a clear sign you can see from this slide starting from digital native to Tier 1 CPaaS partner to e-commerce to finserve or telecom operators or retail. Go to the next slide, please. In last FY '22-'23, we have done -- next slide, please. There are some key partnership we have announced in financial year '22-'23. One of that is partnership with Robi Axiata or UCaaS solution, Uganda Telecom partnership on firewall side. And another one is we've got a CITC license in Saudi Arabia, which is very, very critical to have a CITC license in a market like Saudi Arabia to operate and serve local customer. We received that license last year. And with that, we have a full-fledged sales team based out of Saudi Arabia, and we believe that Saudi is one of the largest market in the entire Middle East, where the adoption of digital penetration and digital channels are very high, and we have seen that growth in the last 1 year, and we believe that in coming years down the line, we can see more growth coming from those markets. Go to the next slide, please. I think 1 point I want to mention, I think, digital fraud on a TruSense. In last few years, I was always talking more about and I was always bullish about the digital adoption and penetration, which is going through in various markets, but I think 1 area which is very critical to understand if the number of digital transaction is going to increase, the ratio of digital fraud will also increase simultaneously. Keeping that in mind, I always believe that we really need to innovate or build something which can mitigate the risk of digital fraud. And that is for that -- exactly for that, we have built a separate SBU. Idea of separate SBUs like I need somebody to own the entire P&L along with the entire product. And that is why we had David Vigar from Twilio to run this entire practice for us. We have built our own chatbot platform, which is called as Roubot which is one of the unique chatbot platform, which we have, and there are various customers who are using this platform as of now. And definitely, the R&D engineering lab, which is opened in Bangalore. So these are some of the key developments in FY '23 -- FY '22-'23. Next slide, please. This slide is definitely a very, very interesting, and you may have some questions on this slide for sure. And I'm happy to answer all your questions. I have already explained each and every aspect of this deal in past over the different news channel, over different media interaction. But idea of partnering with Proximus and reinvesting back to the Proximus Opal is to build -- to make sure we create value by having more of a U.S.-based customer as a part of Route Mobile customer base. You cannot scale your business to extend -- to the highest extent if you don't have a U.S. customer as your direct customer base in CPaaS model. Keeping that in mind, I always realize if I want to scale Route Mobile to the next level, I need to have a U.S. customer as a direct customer of Route Mobile. We have tried multiple times to hire multiple people in those markets -- in U.S. market, but we failed miserably. And I realized U.S. is a market which is very tough to crack, and we cannot just set up a sales office and start hiring multiple people and to just do a sale. It is impossible for somebody to come in new and getting customers directly in the U.S. market. And that is one of the reason I realize I have to have a partnership with Proximus where they have a TeleSign as a 1 brand, 100% acquired by Proximus Group, who has almost all the customer -- the large customer base in U.S., where if we start supporting only directly to TeleSign, and we can see a huge amount of revenue potential to Route Mobile in terms of emerging countries domination. Domination in Africa, Asia, Middle East and Latin America, which is our forte, and we are a champion of this market where we can support TeleSign directly and get all the volumes, which has been sent by TeleSign to other aggregators. If it comes to Route Mobile platform directly, it will be definitely advantage to Route Mobile revenue side as well as the margin side. I think all this point has really -- I think helped me to decide this deal, whether I should do it or not. I know there are many questions you may have, and I'm happy to answer all your questions during the Q&A session. Next slide, please. This slide talks more about the combination of TeleSign and Route Mobile and where we see lots of value. So if you see Route Mobile digital fraud stack is not as evolved as what TeleSign has right now. We would love to use their stack and start selling those stack in emerging market. And if you talk about TeleSign CPaaS stack, which is not evolved as what Route Mobile has. So combining both the strength and weaknesses of both the company, we can -- we, as a company, are definitely one of the global leader in DI business and combined, you can say that as a company, we are almost a $1 billion revenue as of today. So I think that's a rationale of this deal and how this deal creates value between Route Mobile and TeleSign, this slide depicts the same. Next slide, please. Yes, I think these are all -- we can just go to the next slide. I think all the financial highlights have already been shared with all the shareholders. I don't want to just get into those things, but now -- okay, so next slide, please. Yes, these are some of the achievements we have achieved in FY '22-'23. Okay. Thank you. Thank you. Before I commence the Q&A session, I request Mr. Rathindra Das, Company Secretary, to share the guidance for the Q&A session.

Thank you, sir, and good afternoon, once again members. I'll quickly read out a few important matters for smooth conduct of the Q&A session. The Q&A session will be anchored by the moderator from NSDL, and he will call the preregistered speakers to come up one by one. [Operator Instructions] All the speaker questions will be answered by our Managing Director, Mr. Rajdip Kumar Gupta. The questions not answered at this meeting, if any, shall be responded by the company to the respective shareholder over e-mail. It may be noted that the company reserves the right to limit the number of speakers asking questions at this meeting depending on the availability of time for this meeting. [Operator Instructions] I now request the moderator at NSDL to commence the question-and-answer session. Thank you.

Thank you so much, sir. My name is Rimpa and I will be the moderator for this question-and-answer session. We will now begin the question and answer by calling the shareholders one by one. I request our first speaker shareholder, Ms. [ Celestine Elizabeth ].

Hello? Am I audible?

Yes.

Yes, ma'am, you are audible. Please go ahead.

And visible also. Okay. I go to the formal part. Respected Chairman and MD, CEO; Rajdip Kumar Gupta, other members of the Board, my dear fellow shareholders attending this virtual meet. I'm Mrs. [ CE Mascarenhas ] attending from Mumbai. My code number is 12051451090218. I thank the company secretary, Mr. R. Das and his team, especially Mr. Prathik for registering me as we speaker, sending me an annual report and also giving me this platform to speak and especially Prathik gave me a help to enter this meeting. Now -- and I come to the working especially, I cannot miss this excellent presentation by the MD, which I have noted and cleared lots of my queries and gave me lots of insights of the Route Mobile. Thank you so much, Mr. Gupta. It was very, very knowledgeable. Now our working is good. Dividend is also good. But somewhat market capital should go up. Because if this market capital goes up, we will get very big investors in our company with deep pockets, and we can grow still further. Now I go to my queries. The present situation as on financial year, say, the next '24, any impact in the global operations due to higher inflation, mostly in U.S.A. and geopolitical turbulence and global slow economy, if possible. How -- throw some highlight on this -- and for my better understanding. Sir, next question is, what is the CapEx for the next 3 years for organic and inorganic growth any more of acquisitions after Proximus deal is closed. I would like to know what are the total employees percentage of women and physically -- percentage of physically challenged people, attrition level vis-à-vis the industrial average? Then you just now said about Route Mobile innovation and development. We have developed 2 products, especially one I always like blockchain. What about the ML. Now how many employees are in this Route Lab innovations? And what is the attrition level there? Will -- sir, next question is, will you also join the Board of Proximus and declare more dividend after the open offer is closed? My next question is who are major, main, competitors? And can you give us idea of the global market share? Do we have exports to Canada because these days like a little disturbance it looks about Canada. Also, can you throw light on which products we have on cybersecurity in our portfolio? My next question, future road map for the next 5 years, with -- which of our business -- which of the business vertical will prosper more and more? So lastly, I pray to Lord Ganesha, the puja to touch our company and may our mantra be local, serve local and global become very, very powerful mantra. I support all the relations. I wish my company and you especially very good health so that you will give us more and more rewards to the small shareholders, especially. With this, I thank you very much for giving me this opportunity to speak and thanks once again. Namaskar.

Thank you, ma'am. It's very nice of you. And I just like to note on all your questions. I might miss 1 of them. But I'm just trying to answer a maximum of your questions. As I said, we are not very much deep integrated with like -- as far as the U.S. and other market is concerned, I think our U.S. presence right now is very negligible. So there is no impact of U.S. and there's no impact of Canada to Route Mobile. And any geopolitical issues happening in Europe also doesn't have any impact on Route Mobile. You must have seen the growth of Route Mobile in terms of our revenue every single quarter. And based on that, you must think about that, there is no impact in our growth story. And next question about our plan for acquisition. As I said, we as a company, we always look for a great asset, which has -- which will create more value to Route Mobile portfolio. And it is not about a large company or a small company, but we will always keep on looking for companies who add value to our product offering and we are very open -- very much open to acquire companies in future based on what kind of value it will create to Route Mobile. Your third question is probably the Proximus Board. Definitely, I'm going to be the part of Proximus Board. And as far as the dividend is concerned, definitely, as a dividend-paying company, my DNA is the same. I will always try to make sure our shareholders get more value out of this investment. Apart from that, I think there was attrition ratio you have mentioned. So we, as a company, have the same kind of impact as any other IT companies are having in these days. And I think it's the same -- our attrition ratio is almost 31% as of -- but I think that is now getting lower down from last few quarters. Apart from that, if you talk about a 5-year plan on which product will create more value for Route Mobile. We are very bullish about digital security project, traditional fraud product, which is like TruSense. Apart from that, the Ocean platform, which we have built has a huge potential for customer experience platform. And the idea of entire ocean is very simple. We want to offer these services to our customers for free so that they can have a very much clarity about every single penny they are spending on their each and every campaign. And if they have this entire platform for free, which right now they are paying a huge amount of money to various other companies to have this kind of services. I think the idea of Ocean to create a value to our customer by using our channels. So we believe that this Ocean along with TruSense and our blockchain solution in the next 5 years is going to create more value for Route Mobile. Thank you. I hope I answered your query. And if not, you may just write down those query back to our legal and compliance team, I will try to answer them. Next question, please.

May I now invite Mr. [ Gautam Tiwari ], our next speaker shareholder.

You can listen me, ma'am? You can listen to me, sir?

Yes, sir, you're audible.

And can you see me?

Yes, sir, we can see you.

Okay. Thank you very much. Thank you very much, sir. Sir, very, very good morning. First of all, I'm very happy to see you all though virtually, sir. But I'm very happy to see you [ hale ] and hearty. Very, very good afternoon our Honorable Chairman, sir, Sandip Guptaji; our Group CEO, Mr. Rajdip Guptaji; our CFO, Suresh Jankarji; our CS, Rathindraji; and other eminent, learned and dignified Board of Directors, Team Route Mobile Limited and my respected fellow shareholders, myself [ Gautam Tiwari ] and I'm participating at this AGM from Mumbai. Sir, dear, sir, first of all, I thank you very much for very remarkable and for great performance and best of the results year-on-year, rather, in the last year also this year also. And thanks to the management and the Chairman, sir, for paying generous dividends year-on-year. So this time, even the revenue is much more than a far of our expectation 73%, even organic revenues also increased so much for which I really thank the management for the best of performance. Sir, from annual report, I read that you are doing a lot of work for the society under the RML Foundation for health care and old-age home. Sir, thank you very much that your management has thought of senior citizens' comforts and construction of old-age homes has been undertaken with the health care program by the management. Sir, please tell us which all other CSR activities you are paying attention to? Dear, sir, investor care and investor service of our [ secretarial ] department headed by Rathindraji and assisted by hardworking Prathik is exceptionally outstanding. All our calls are answered immediately, all issues and all queries are resolved speedily, politely, pleasantly and punctually, even hard copy of annual report we have got in time after request and also the investor services of Karvy's and the technical team of NSDL is very, very good and very, very excellent. I really thank each and member of these relevant departments and also thank the management for selecting such dedicated and devoted service providers for shareholders. Sir, I can congratulate the management for achieve -- for their very, very big achievements and earning and winning the international awards and accolades this time in a very great way. Sir, in order to understand -- improve my understanding, I would like to know, first, sir, tell us a bit about Proximus deal and what will that mean for shareholders in coming years? Please tell us about your role in the new setup? Any chance of you are moving to U.S. or Belgium? And how are the institutional shareholders committing to this new arrangement? Second, sir, what is your future road map for the next 2 to 3 years? And what is your plan for the Middle East and the U.S. Third, dear sir, what is the impact on our business directly or indirectly of Russia-Ukraine war and the recent India-Canada tussle? And lastly, I would like to know about the ESG rating and the ESG report and [indiscernible] rating of our company. Concluding sir, I'm very happy being a proud shareholder of Route Mobile Limited and we really value this company the most. That is why by leaving all other businesses and all other meetings aside, we have been here to encourage you for your efforts. Sir, conclusively, I would like to mention that I support appointments and reappointments of all Directors Mr. Chandrakant Guptaji's appointment I support especially. And also, I heartly support all resolutions for which I have already voted in advance by remote e-voting. Dear sir, we have complete trust, confidence and faith in the management, and our lifetime support and patronage shall always continue along with the company and along with the management for days and years and years together ahead in future. Dear sir, I wish and pray for a very long, happy safe healthy, wealthy life for each one of the member and for each one, those who are connected with us along with a bright future for the company under your superfine management. I also compliment you with best wishes of all upcoming festivals like presently Ganpati, then Navratri, Dussehra, Diwali, Christmas and New Year in advance. Once again, I wish you all the best and the best of the luck. Jai Hind! Jai Maharashtra! Here is a big salute to you for your achievements. Thank you very much, sir.

Thank you, sir. As far as the CSR is concerned, I think company is very, very keen to work on the CSR front. Apart from the old age home donation, we are also working on medical aid, donation to the hospitals and education assistance to various underprivileged kids. To your second question on Proximus deal. I think I have already explained in detail about my role and what value it will create as a combined company. Your question about me moving to Belgium or USA is completely -- I'm not moving anywhere. I'm going to work from Mumbai office, and I love my country. And I think whatever I have built, I can run from here. I might have a much larger role. I might need to do a frequent travel to Los Angeles, but that is a part and parcel of my portfolio. But I'm not moving anywhere. I'm going to work from Mumbai office only, and I'm going to run the entire Route Mobile as a group. Apart from that, I'm also going to get additional responsibility of running the entire CPaaS business of a combined business. So that's another one. Future road map, I think I've already very clearly mentioned in my speech that we are very clear about a few products, including TruSense, blockchain and Ocean and some of the products which we are building on CPaaS side, I think we do believe that this product will add lots of value and revenue in coming years down the line. And as far as the Russia, Ukraine or India, Canada is concerned, we see no impact on our revenue because we don't have much of exposure in those markets. Thank you.

May I invite our next speaker shareholder, [ Sandeepa Batiwala ].

Am I audible, sir?

Yes, ma'am, you are audible.

Respected Chairman, Shri. Sandipkumar Guptaji, eminent Directors, CEO, Rajdip Guptaji, other dignitaries on the Board, our Company Secretary, Shri. Rathindra Dasji; and my dear fellow shareholders, my warm wishes to one and all. I'm Sandeepa Bativala from Mumbai. Sir, first and foremost, I would like to thank our Company Secretary, Rathindra Dasji and his secretarial team for a very transparent and beautiful AGM report and also for giving us the link, speaker's link on time and communicating very well with the shareholders. Sir, thank you for the Board also for organizing this meeting at a very convenient time and the convenient date. And because 30th most of the companies hold their meetings and it becomes very difficult for us shareholders to rush everywhere at the same time. Sir, I'm very, very grateful to the Board for declaring INR 2 dividend per equity share of INR 10. Heartiest congratulations to our company and our hard-working employees who have strived hard to make us proud by winning such dignified awards and accolades for our company making our company a market leader today in the wavering market, where there are many competitors competing with us, sir. Sir, I would like to praise the company secretary and his team for communicating so well with the shareholders. And also for -- I would like to congratulate our company for the acquisitions that we have made and the awards that we have won recently. Sir, I'm very proud to know about the CSR activities that are being done by our company. Sir, many, many blessings are coming to our company in the -- through these activities, I would say. I wouldn't like to touch upon the accounts as I know that our company has maintained transparency in the AGM report and the progress of our company is making already speaking volumes after hearing and watching the presentation made by sir and the substantial growth of 78.3% made this year by our company gives a lot of hope to our shareholders, sir. Sir, I have only 2 queries. What is the attrition rate of employees in our company. And sir, the second question is, what is the foreign exchange that we are targeting at in the forthcoming years, thereby I support all the resolutions and thank you for giving me a chance to speak. Good wishes of the ongoing festive season of Ganesh Chaturthi and the upcoming festivals. I pray to the Divine to bring progress and prosperity by leaps and bounce to our company. Thanks a ton, sir. Thank you very much.

Thank you, ma'am. As far as the attrition rate is concerned, it's about 31% last year. And I think as we speak now, the attrition rate has gone much lower. On ForEx exchange question, I think I would request Mr. Suresh Jankar to answer that question, please.

Good afternoon, ma'am. Could you please repeat your question as far as foreign exchange is concerned?

Sir, I would like to know what is the foreign exchange that we are targeting at in the forthcoming years?

Okay. So basically, our total revenue standalone level basis as far as India is concerned, it is mix of domestic revenue and export revenue. So the mixture is around 60% to 40%. So you can -- we are targeting that near about 60% in the coming year. I hope that resolves your query.

May I invite our next speaker shareholder, [ Rohinton Batiwala ].

Hello? Can you hear me? Hello?

Yes, sir, we can hear you.

Yes. Respected Chairman, respected Board of Directors on dais, the Company Secretary, good evening to all of you. Sir, my name is Rohinton Batiwala from Mumbai And thanks for inviting me to speak on this lovely platform. Sir, I don't want to take much of your time because time constraint is there because Madam Elizabeth Mascarenhas has shared all our questions, so there is no need of me to speak much. So I thank company for inviting me to speak and wishing them best. Thank you.

Thank you, sir. Thank you.

May I call our next speaker, Mr. [ Ramesh Gola ].

Hello?

Yes. Yes, sir, we can hear you.

[indiscernible] voice is clear?

Yes.

My dear Chairman, Gupta-garu and other Directors, fellow my shareholders, very good evening to all. Sir, [Foreign Language] give me the road map, sir. Any acquisitions is there, please update me. Sir, that too, sir, [Foreign Language] what you are taking good steps [Foreign Language]. [Foreign Language] women employees, sir. How many is there, sir, working, that too, sir, given me the percentage, sir? Sir, [Foreign Language] That is the services of my secretarial department, sir. Sir, that too, [Foreign Language] and corporate governance is very good and superb, sir, [Foreign Language] Ganesh Chaturthi, belated wishes to you and all of your employees and your family members, total team, sir. Sir, [Foreign Language] so happy to me, sir. I'm very proud feel [Foreign Language]. Thank you so much, and have a good day and sir, god bless you all, sir. thank you so much. Bye, sir.

Thank you, sir. I think most of your questions I've already answered, but there's some question I would like to answer. We, as of now, have a monthly active customer, which is more than 3,500, which is active [ billable ] customer. So every invoices we raise in each month, we take them as an active billable customer. So it's more than 3,500 active billable customers we have on our portfolio. As a customer, we see we have more than 20,000-plus customers in our portfolio. And if you include different regional customer base also, that is more than 35,000 also. But we take our numbers based on active billable customer every month. So that is the number which we have. I've already given the guidance about our revenue guidance, which is about 20% for this year, and we are always little bit conservative while giving our numbers, and we have always overachieved our number. And keeping that in mind, we are working towards this year number as well. And hopefully, we will -- we might overachieve our number this year as well. As far as the acquisition is concerned, definitely, as I mentioned before, we do have a plan to acquire a company which will add more product offering or create more value to the entire offering of Route Mobile. We are open to acquire those companies. As far as the road map is concerned, I think we are very clear about next 3 to 4 years down the line, we want to be a $1 billion revenue company in 3 years down the line. That is one of the aspirations we drive internally and we are working towards that. It is completely organic growth. I'm talking about, not something because of partnership or any merger. As a company, my guidance -- internal guidance for my sales people, how to become a $1 billion company -- revenue company in next 2 to 3 years down the line, but probably 3 years down the line, you can say that. I think I answered most of your questions. Thank you. Next speaker, please.

May I invite our next speaker Mr. [ Jehangir Batiwala ].

Can you hear me, sir?

Sir, you are audible.

Since my predecessors have already asked all the questions, I would not like to repeat them again. All I would like to say is wishing you all the best for the future and forwarding you compliments of the festive season. We are in the midst of Ganesh Chaturthi and then there's other festivals to follow. But sir, I also -- we also thank you for the dividend of INR 2 per share. And if later on, a physical copy of the annual general report can be sent across, I would be highly obliged. That's it, sir, from my side, not taking much of your time and if you can just spell out your vision for the next 2 years? Thank you very much, sir. Have a great day.

Thank you. And we will definitely send you the physical copy of our annual report. So I think team has already noted that. I've always shared my vision for next 5 years. Probably the vision is same and I think the growth is only simple vision we have, and we want to overachieve every single guidance which we give to the market. And I think we have a very solid plan for that and a very solid pipeline to achieve those numbers. And you can see those number we deliver in coming quarters also. Thank you. Next speaker.

I will invite our next speaker shareholder, Mr. [ Mukund Mehta ]. I think Mr. Mehta has not joined, so we can move to the next speaker shareholder. Mr. [ Shodhan Shetty ]. Sir, I think he has also not joined, so we will move on to our next speaker shareholder, Mr. [ Vipin Jovan Putra ]. Mr. Vipin? I guess, sir, he is also not there. We will move on to our last speaker shareholder, Mr. [ Ravikant Kirtania ]. Mr. Ravikant, sir? Sir, I guess, he has also not joined. So we are done with our speaker shareholders. With that, we finished the session. I now hand over to the boardroom. Thank you so much, sir.

Thank you, Rimpa. Sandip, yes?

Thank you, Rajdip. I want to thank all the members for their queries and views. All the items of business as per the Notice of the 19th Annual General meeting have been taken up. The scrutinizer, Mr. Prakash Shenoy shall on completion of e-voting at this meeting unblock the votes cast through the remote e-voting and e-voting by members during the AGM and make a consolidated scrutinizer's report of the total votes casted in favor and against the resolution. I'm authorizing Mr. Rathindra Das, Compliance Officer, to receive the scrutinizer -- registrar's report on e-voting and other related papers with requisite details and also to countersign the scrutinizer report upon receipt of the same and declare the result. The combined result of remote e-voting and e-voting at the AGM along with the scrutinizer's report shall be communicated to BSE Limited and National Stock Exchange Limited of India. With the shares of the company are listed and will also be hosted on the company's website and on the website of NSDL within 2 working days from the conclusion of the meeting. On behalf of the Board of Directors and management of Route Mobile, I convey our sincere appreciation to all the members of -- all the members for attending and participating at this meeting. Let me also thank all the Directors and auditors for attending today's meeting. Please stay healthy and safe and take care of yourself. I know -- I now conclude today's proceedings. Thank you very much. Have a good day.