Route Mobile Limited (ROUTE) Earnings Call Transcript & Summary

Good afternoon, all, on behalf of the Board of Directors and the entire Route Mobile family, I, Guillaume Boutin, Chairman of the Board of the company, extend a very warm welcome to all of you to the 20th Annual General Meeting of Route Mobile Limited. I also chair the Stakeholders Relationship Committee of the company. This meeting is being held through audiovisual means in accordance with the circulars 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. Since there is no particular 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 am participating in meeting through video conference from my residence in France. Before I start the main proceedings of the meeting, let me start by introducing my colleagues on the Board and key managerial personnel attending this meeting from our corporate office in Mumbai. I'll start with Mr. Rajdip Gupta, Managing Director and Group CEO of Route Mobile, and seated along with him are Mr. Gautam Badalia, Group Chief Strategy and Chief Investor Relations Officer; and Mr. Rathindra Das, Group Head, Legal, Company Secretary and Compliance Officer. I would now like to introduce the Directors present virtually for the meeting. We have Mr. Mark Reid, Non-Executive, Non-Independent Director of the company, attending from his office in Brussels, Belgium.

Hi, everyone.

Then we have Mr. Anil Kumar Chanana, Independent Director, Chairman of the Audit Committee and Risk Management Committee, attending from his residence in Gurgaon.

Good afternoon, everyone.

Then we have Mrs. Harita Gupta, Independent Director, Chairperson of the Nomination and Remuneration Committee and CSR Committee of the Board, and she is joining us from Manila, Philippines.

Good afternoon, everyone.

And we also have Mr. Prakash Advani, Lead Independent Director, attending from his office in Belgium.

Good afternoon, everyone.

We have also Mr. Suresh Jankar, Chief Financial Officer of the company, who is attending this meeting through VC from Mumbai, India. And we also have with us representatives from Statutory Auditors, Walker Chandiok & Co LLP and Mr. Dhrumil Shah of M/s Dhrumil M. Shah & Co, secretarial auditor, attending this meeting through VC from Mumbai, India. In addition, we also have key executives and senior management joining from their respective locations through VC. In compliance with general circulars issued by the Ministry of Corporate Affairs, this meeting is being conducted through video conferencing without the physical presence of the members at a common venue. However, the proceedings 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 your notice that in accordance with the provisions of the Company's Act 2013 and SEBI listing regulations, the members have been provided the facility to exercise the right to vote by electronic means, both through remote e-voting and e-voting at the AGM. Remote e-voting facility was made available to all members holding shares as on the 13th August 2024 being the cut-off date. During the period commencing from Saturday, the 17th August, sorry, at 9:00 a.m. IST 2024 until Monday, the 19th of August 2024 till 5 p.m. IST. Remote e-voting has been blocked on the 19th of August 2024 at 5:00 p.m. IST. Members joining the meeting through video conferencing and who have not cast the vote by means of remote e-voting may vote through e-voting facility provided on the website of NSDL, i.e., www.evoting.nsdl.com. The members can click on Event #129473 to cast their vote. I now request Rathindra, Compliance Officer, to provide general instructions to the members regarding participation in this meeting and to read the arrangements made for the members.

Thank you, Chairman. Warm welcome, and thank you, everyone, for joining the 20th Annual General Meeting of Route Mobile Limited. I will now take you through the key aspects of this meeting, your participation at this meeting, the 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, which has allowed for AGM through digital gathering in continuation to the past 3 years under the covered legislations. Your contribution in the virtual format has been the same importance as in an in-person meeting. The international nature of RML shareholding is also a good -- from management's point of view to hold AGM through digital mode. It allows a broader group of shareholders the opportunity to contribute to the discussion and ask questions and make your contributions available to a broad forum of shareholders. The company has enabled the members to participate at the AGM through video conferencing facility provided by NSDL. This AGM is being live webcast also on our YouTube channel, and members, who are not in this meeting room today, may watch the live webcast on our YouTube channel as well. All the members who have joined this meeting are by default placed on mute mode by the host to avoid any disturbances arising from the background noise and to ensure smooth and seamless conduct of this meeting. Members may also kindly note that the proceedings of this AGM is being recorded. Statutory announcement, 74 representations under Section 113 of the Company's Act covering in all 5,45,69,335 equity shares, representing 86.90% of the total paid off capital as on the cutoff date, August 13, 2024, 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 ended 31st March 2024, together with the Board and auditor's report, have been sent only by e-mail within the statutory period to all the members whose e-mail addresses were registered with the company, the registrar and transfer agent and the depositories. The company through a notice published in the newspapers also informed the shareholders whose e-mail IDs were not registered about the registration process for e-mail addresses and provided the e-mail ID for receiving the annual report. We have in the past week also received requests from some shareholders to send a printed copies of the annual report, and those have been sent prior to this meeting. We nonetheless inform and request you once again to send us your request in case you want to read our annual reports in printed form. 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 Key Managerial Personnel and their shareholding, the Register of Contracts and Arrangements, the certificate from the secretarial auditor relating to the implementation of the company's ESOP Scheme 2017 and ESOP Scheme 2021 under the SEBI Share-based Employee Benefits and Sweat Equity Regulations 2021 are available electronically for inspection by the members at the e-voting module, made available by the e-voting service provider NSDL. Members who wish to inspect the documents may send an email to [email protected]. The Board of Directors has appointed Mr. Prakash Shenoy, Practising Company Secretaries; and in his absence, Mrs. Sapna Chourasia, again, a Practising Company Secretaries as the scrutinizer for the e-voting. Based on the report of the scrutinizer, the combined result of the remote e-voting and the e-voting done at the meeting today will be announced and displayed on the website of the company, and will also be submitted to the stock exchanges as per the requirements under the listing regulations. Since the AGM is being held through audiovisual means, the resolution forming part of the notice convening this meeting has already been put to vote through electronic voting. The practice of proposing and seconding of resolution is not required and will not be followed at this meeting. Members may also please note that there will be also no voting by show of hands. The company has also received requests from a few members to register themselves as speaker at this meeting. Accordingly, the floor will open for those members for questions and comments. 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 by mentioning their name and Demat account number or their folio number. It may be noted that the company reserves the right to limit the number of members asking the questions depending on the availability for time at this AGM. In case members may face any difficulty, they may reach out to the helpline numbers of NSDL. Thank you very much for your attention. And I now request Chairman again to continue with the proceedings of the meeting. Thank you.

Thank you, Rathindra. I am satisfied that all the efforts feasible under the circumstances have indeed been made by the company to enable the members to participate and vote on the items being considered at this meeting. I will first proceed with my statements as it is customary. Thereafter, I will move to the business to be transacted at this AGM. After that, Mr. Rajdip Gupta, our MD and Group CEO, will make a presentation for the members. We'll then move to the Q&A session. The objectives and implication of the agenda items are set out in the explanatory statement annexed to the AGM notice, and for the sake of brevity, I'm not going to repeat them. In case members wish to seek any further clarification, they may raise it at the Q&A session. Let me start now with my statements. It is both an honor and a pleasure to present before you today, as we gather for the 20th Annual General Meeting of Route Mobile, for the fiscal year 2023-2024. I want to extend my heartfelt gratitude to each of you for being here and for your unwavering support as we embark on this exciting new chapter together. Before we delve into the business at hand, I would like to take a moment to acknowledge the exceptional leadership and dedication of the Route Mobile team. The hard work and commitment have laid solid foundations that enable us to create one of the largest leaders in the digital communications industry. I also want to thank the shareholders, partners and stakeholders whose trust and confidence have been instrumental in this journey. The integration of Route Mobile and Proximus marks a significant turning point for both organizations. Indeed, it adds the necessary scale to unleash the full potential of the group's global communications activity. Proximus Group now encompasses the entire value chain of digital communications from A2P voice and messaging and mobility services to CPaaS and digital identity. We connect customers across the globe, enable end-user engagements and provide secure and trusted digital experiences. Route Mobile's remarkable achievements in the communication solutions industry aligns seamlessly with our vision. The strong market position, cutting-edge solutions and dedication to customer excellence makes Route Mobile a natural fit for Proximus. Reflecting on the past year, I am very happy with the key achievements that have set the stage for future success. Route Mobile has continued to drive innovation in the CPaaS space by deploying solutions that set the benchmark in the industry, like enabling millions of commuters to book tickets on WhatsApp to creating world's first payments use case on RCS. Route Mobile is set to expand into new markets and strengthen its global presence. I'm sure that this growth will position us very well to capitalize on the emerging opportunities and trends. The commitment to delivering exceptional customer experiences has been a cornerstone of Route Mobile's success. This focus will remain a priority, and as we continue to build on this foundation. Looking ahead to '24 and '25, our strategic vision is centered around several key priorities. Our immediate focus will be on seamless collaboration between the Route Mobile, TeleSign and BICS. This will involve aligning our teams, systems and strategies to leverage our combined strengths and capabilities. We continue to invest in research and development to drive innovation. Our goal is to enhance our technology offerings, explore new solutions and stay ahead of industry trends. The collaboration enables numerous cross-selling and upselling opportunities within the Proximus Group, allowing us to offer more integrated solutions and enhance customer value and satisfaction. We have set vision of becoming a global leader in digital communications, and Route Mobile is an integral part of this vision. In closing, I want to reiterate my excitement about the future of Route Mobile and Proximus Group. The opportunities before us are vast, and with our combined expertise, resources and vision, I am confident that we will achieve great things together. Thank you once again for your continued support and commitment. I look forward to working closely with all you -- all of you as we embark on this promising journey aiming to a successful year ahead. Thank you. Now with the content, I will go ahead with this flow of the proceedings of the meeting and the business to be transacted at this AGM. For the financial year that ended on 31st of March 2024, the notice and the audited financial statements together with the directors' and auditors' reports have already been circulated to all the members. Therefore, I take the notice convening the meeting as read. The Statutory Advisors, M/s Walker Chandiok & Co LLP, Chartered Accountants LLP and Secretarial Auditors, M/s Dhrumil M Shah & Co., Practising Company Secretaries, have expressed unqualified opinion in the respective audit reports for the financial year 2023-2024. Since there are no qualifications, observations or adverse comments on the financial statements and matters which have any material bearing on the functioning of the company, the said reports are not required to be read at this meeting. The same are, therefore, being taken as read. In terms of the notice of the 20th Annual General Meeting, the following items of ordinary businesses and special business are to be considered at this meeting. Item #1, to receive, consider and adopt the audited standalone financial statements of the company for the financial year ended March 31, 2024, and the report of the Board of Directors and the Auditors thereon. Item #2, to receive, consider and adopt the audited consolidated financial statements of the company for the financial year ended March 31, 2024, and the report of the auditors thereon. Item #3, to declare a final dividend of INR 2 per equity share of the face value of INR 10 each of the company for the year ended March 31, 2024. Item #4, to appoint a director in place of Mr. Rajdip Gupta who retires by rotation and being eligible offers himself for reappointment. Item #5, to approve entering into a business transfer agreement proposed to be executed between Route Mobile Limited and 3M Digital Networks Private Limited. I now request Mr. Rajdip Gupta, managing doctor and Group CEO, to proceed with his presentation, and thereafter, open the Q&A session. Rajdip, up to you.

Thank you, Chairman, sir. Good afternoon, esteemed shareholders and valued partners. I welcome you all to the Annual General Meeting of Route Mobile for the financial year '23-'24. It is my great pleasure to address you today, reflecting on our achievement challenges and the path forward for our company, which has been at the forefront of innovation and customer satisfaction for 2 full decades. As we reflect on the past year, I want to express my sincere gratitude to all of you. Your unwavering support and trust in Route Mobile have been instrumental in our continued growth and success. FY '23-'24 has been remarkable in many ways, and it is your commitment that has enabled us to navigate with confidence and resilience. Before I start, I would like to extend my heartfelt thanks to our past directors who have recently stepped down from the Board. I start with Mr. Chandrakant Gupta and Mr. Sandipkumar Gupta, who served on the Board for almost 2 decades and made tremendous contribution to build this company during challenging and prosperous times. Their commitment to the excellence has not only shaped our current success, but has also positioned us well for the future. I'm pleased that Mr. Sandipkumar Gupta continues to be an integral part of our Board as a Director of Finance for Route Mobile U.K. I'm confident that RML, as a group, will continue to gain from his extensive expertise in finance, taxation and general administration. I must also thank the outgoing Independent Director, Mr. Sudha Navandar, Mr. Arun Gupta, Mr. Nimesh Salot and Mr. Bhaskar Pramanik, I thank them for their unwavering support through my many milestone of Route Mobile, including our IPO and QIP in the past. And I would like to place on record my deep appreciation for the contribution they have made during their tenure. As we move forward, it is with a great enthusiasm that we welcome our new Board of Directors. From Proximus side, Mr. Guillaume Antoine Boutin has joined the Route Mobile Board as the Chairman and Non-Executive Director; Mr. Mark James Reid joined our Board as a Non-Executive Director. Company's Board has also been strengthened with the induction of new independent directors, Mr. Anil Kumar Chanana, Mr. Prakash Advani and Ms. Harita Gupta. Each of them brings a wealth of experience, fresh perspective and innovative ideas that will be invaluable experience. And the energy of our new leadership, we are poised for a future filled with opportunity and success. I am excited about the journey ahead and look forward to working closely with all of them to achieve our collective goals. FY '23-'24 has been a year of robust growth and significant milestone for Route Mobile. Our integration with Proximus Group has opened up a pivotal opportunity. This partnership aligns perfectly with our vision to lead the CPaaS market, leveraging technology and market reach to drive continued growth and innovation. Together, we are poised to set new benchmark in digital communication and customer engagement, reforming our commitment to excellence. Post this integration with Proximus Group, we have become one of the world's largest CPaaS player by messaging volume and will be entering mature market in North America and Europe. We are expanding product portfolios and unlocking synergies with TeleSign. We aim to lead global CPaaS market through collaborative effort and expanded market presence and consistent delivery of exceptional value to our customers. Our financial performance has been exceptional. We have achieved revenue growth of 12.7% year-on-year, reaching a total revenue of INR 4,023.3 crores. Our billable transaction serves to 126 billion, reflecting our expanding market presence and customer trust. The gross profit margin stand at 21.4%, which is INR 860.5 crores. And our EBITDA is 12.3%, which is INR 494.9 crores. This growth is a testament of our innovative solution, customer-centric approach and the hard work of our talented team. We have also made substantial progress in enhancing our product portfolio. Our investment in R&D have borne fruits with the launch of several new solutions that cater to the evolving needs of our customer. From advanced messaging solution to AI-driven customer engagement tools, we are at the forefront of technology, enabling businesses to communicate more effectively with their customers. While we celebrate our success, we must also acknowledge the challenges we have faced. FY '23-'24 was not without its challenges. The CPaaS industry faced significant headwinds, including enterprise cost optimization initiative, particularly from global OTT players and shift in communication channels along with geopolitical issues in Europe. We remain vigilant and proactive in leveraging emerging opportunities to drive growth and profitability. The need to stay ahead of the curve in a highly competitive market, industry requires a continuous innovation and investment. I am proud to say that Route Mobile has risen to the occasion, leveraging our expertise and resources to stay at the cutting edge of cloud communications. As we look to the future, I'm filled with optimism and confidence. The demand of digital communication solution is only set to grow, and Route Mobile is well positioned to capitalize on this trend. Our strategic priorities for the coming year includes: first, innovation and technology. We will continue to invest in R&D to develop cutting-edge CPaaS solution that meets the evolving needs of our customer. Our focus will be on enhancing our AI capabilities, expanding our product portfolio and exploring new technologies that can drive growth. Second, customer focus. Our customers are at the heart of everything what we do. We will deepen our engagement with customers, understanding their needs and providing tailored solution that delivers real value to -- our aim is to build long-term trusted relationship with our customers. Third, global expansion. With the closure of Proximus deal and synergy opportunities it brings, we anticipate accelerated growth in revenue and market presence. Our focus remains on enhancing CPaaS solution and leveraging our strength in key markets like U.S.A. and Europe. Our goal is to serve businesses of all sizes across all industries around the world. Lastly, sustainability and responsibility. We are committed to sustainable business practices and corporate responsibility. We will continue to integrate environmental, social and governance, ESG, consideration into our business strategies, ensuring that we create value not just for our shareholders but for society as a whole. In conclusion, I want to thank and everyone -- I want to thank each and every one of you for your continued support and belief in Route Mobile. Together, we have achieved great things. And together, we will achieve even more in the years to come. Our journey is one of continuous growth and innovation, and I'm excited about the opportunities that lie ahead. Let us move forward with a confident determination and shared vision for a successful and sustainable future. I convey my advance wishes for the Ganpati celebration coming up soon and pray for everyone's prosperity and good health. Thank you. Now I would like to present -- go on my presentation. I request somebody to just put on the presentation, please. Let's start with the key developments only. Some of the key developments I want to highlight in this presentation. The past year has been full of milestone. We signed large deals with customers like Vodafone Idea, Robi Axiata and one of the largest e-commerce company in the world. Through focused R&D, we have deployed innovative solutions like WhatsApp and RCS-based ticketing for metros and exam results via WhatsApp. We also received various awards and recognition from leading institution bodies like Gartner, Juniper, Roku and Moneycontrol. On May 8, 2024, we have completed the Proximus deal. Proximus Opal now holds 83.1% stake in Route Mobile. This deal makes Proximus Opal one of the largest CPaaS player by messaging volume. I will continue to be the CEO of Route Mobile and spearhead the CPaaS business globally. I would like to thank our minority shareholder for their approval on the transfer pricing between Route Mobile and TeleSign. I'm delighted to introduce our new Board of Directors who will provide invaluable direction and guidance to our new journey ahead. Our solutions are suitable for a diverse set of industries and domains, which help us to maintain a healthy customer base. Communication with customer plays an important part in our industry, and we are empowering the rapid digitization of customer communication across financial services, e-commerce, retail, travel and hospitality sector. Our revenues are also well distributed among companies based across the globe. We continue to nurture our existing customer relationship, which is helping to -- helping us to generate higher revenue from existing customers. This has resulted in a consistent increase in the number of large customers. Our customer trust and belief in us is reflected in the repeated business that we generate. Our customer support and success team and business managers provide a great experience to our customer, which has resulted in 106% net revenue retention for FY '24. We have continued on our growth journey in FY '24 as well. We posted 12.7% growth in our overall revenue, posting to total of INR 4,022 crores. Our gross profit has increased by 9.4% year-on-year basis to INR 860 crores, and our net profit has increased by 11.7% year-on-year basis to INR 372 crores. This number reflects the team's hard work, and I would like to congratulate the entire Route Mobile team for this performance. This also gives me confidence that we are very much on track to achieve our goal for $1 billion revenue. FY '25, we are providing a guidance of 18% to 22% revenue growth year-on-year basis, and we would like to maintain an EBITDA margin of 13%. Our goal is to provide a dividend payout of 20% of PAT. We have always worked towards overachieving our guidance, and this year as well, I am confident of a strong performance in FY '25 as well. Our innovative solution that -- and large-scale deployment are helping us to set a benchmark in the industry. We became the largest enabler of WhatsApp-based ticketing for metros in India. We also deployed the world's first RCS-based ticketing solution. This kind of deployment have helped us improve our revenue from new products by 55%. We continue to innovate and deploy large-scale solution across industries. We offer a wide portfolio of rich messaging solution to our customers, which help them to use relevant channels based on customer and regional preferences. Our platform provides additional features over and above the standard offering of the channels that enable customers to derive a higher ROI. WhatsApp is one of the most popular channel in the world with over 2.7 billion users globally. As the premier partner of Meta, we are adopting and deploying solutions like payments, chatbot, flows, et cetera, to solve unique use cases across industries. Our WhatsApp solutions are among the best in the industry. We introduced our chatbot platform last year, and it is one of the fastest chatbot builder solution powered by NLP and AI-driven capabilities. Route Mobile coupled with channels like WhatsApp, RCS, Viber, Telegram, et cetera, helps brand to develop advanced customer journey. RCS Business Messaging is one of the most engaging channel that is very rapidly becoming popular amongst brand. We are amongst the early adopter of RCS, and we are closely working with brands across sector to help them achieve success through RCS. It provides many opportunities for high engagement through various messaging format. Our e-mail platform, SendClean, is very strong solution for enterprises who wants a reliable e-mail provider for a large volume operations. Our e-mail platform can handle large volumes and suitable for enterprises, system integrator as well as developer. We continue to expand our product portfolio and provide comprehensive solution to our customer that meets their varied needs. Thank you. Now I hand over to Mr. Rathindra Das for the -- take the next proceeding, please.

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

Our first speaker shareholder is Mr. Rohinton Batiwala.

Can you hear me?

Yes, sir, we can hear you. Please go ahead.

Respected Chairman and Executive Director, Mr. Antoine Boutin, with effect from 8th May 2024; other Board of Directors on VC platform; CFO, Mr. Suresh Jankar; Company Secretary, Mr. Rathindra Das; my fellow shareholders on VC, good evening to all of you. Sir, the 3 minutes which you are giving is not enough sir. Once in a year, we meet, so you have to give some more time to talk with you. Sir, my name is Mr. Rohinton Batiwala from Mumbai, and thanks for calling out my name and inviting me to speak. Sir, first, let me thank our efficient company secretary, Shri Rathindra Das and his secretarial team for coming out with wonderful AGM report of 352 pages. Sir, the AGM report is partially colorful, and it is so well drafted that any layman could read and understand it. Sir, the AGM report is exhaustive, educative, informative, knowledgeable, and above all, it is adhered to all the norms of corporate governance. Sir, the facts and figures are also in place. Sir, as I'm 80 years old, and I am uncomfortable with e-mail AGM report, I requested our Company Secretary, Mr. Rathindra Das, to send me AGM report physically, and hats-off to our Company Secretary that very next day, I received my AGM report physically through courier. Sir, this type of company secretary should be in each and every company so that the shareholders will not have problem. Thanks a lot, Company Secretary, Mr. Rathindra Das. Sir, the Board of Directors in their capacity has recommended a final dividend of INR 2 per equity share of INR 10. That is 20% for the financial year ended 31st March 2024. Sir, the total dividend comes to INR 11 per equity share, including 3 interim dividends, which was given earlier step by step. Sir, thanks for the nice dividend. But sir, I would like to know that our EPS is INR 19.63 for the financial year. And sir, you could have easily given INR 15 total dividend. Anyway, sir, something is very much better than nothing. Next financial year, sir, we hope that you will recommend huge dividend. Anyway, sir, we are all happy with this dividend also. Sir, in Board's report on Page 52, Serial #6, title Awards and Recognition, sir, we are very much happy to read about the Awards and Recognition. And after reading about the awards, we think we are in the safe hands of our company's Chairman and Directors. Sir, hats off to all of you. Sir, [Foreign Language]. Sir, we are very much happy that we are part and parcel of Route Mobile Group. Sir, our company's performance is excellent. Sir, our company has fired on all the fronts, which is self-explanatory from Page #50 to Page #68, very nice, sir. Please keep it up year after year. Sir, by going through the AGM report, it is observed that our former Chairman, Mr. Sandipkumar Gupta and other major directors have resigned or left the company. Whatever it is, a new Chairman, Mr. Boutin has taken over Chairmanship, and the Directors team has newly been appointed so that our new Chairman should see that everything in the company goes well like the old team, which has got company at this level. All the best for future handling of the company. Now, sir, little queries. Sir, what is the roadmap for the next 2 to 3 years? Sir, what is our R&D program for next financial year? And how do you think you will fund it? Sir, who are our major competitors, and do our company have any threat from them? Sir, any mergers, acquisition is on the anvil? If yes, please let us know. Sir, also on the strategy side, how do you plan for the next year for new market? What is the company current market share in its major products? How does the company plan to expand market share? Sir, when are you planning to give bonus to shareholders? Now, sir, I end my speech over here because of time constraint, and with the praise to almighty lord to bring our company to newer and greater heights and top slot #1 under your dynamic leadership. I, with my family, wish all the best to our company and give good wishes for the company in coming festivals. Thank you once again, sir, for inviting me to speak and give patient hearing. Sir, I have voted for all our resolution via e-voting, and we'll do so year after year. Thanks, one and again. Jai Maharashtra. Jai Hind. That's all, sir.

Thank you so much, sir. Now we will move on to our next speaker, Mr. Gautam Nandi. Sir, I request you to please switch on your camera and unmute yourself.

Am I audible and visible also?

Yes, sir.

Thank you. Good afternoon, and [Foreign Language]. Myself, Gautam Nandi from Kolkata, very old equity shareholder of your company. And I am holding 55 equity shares of your company. Firstly, I salute with my great respect to our old management: respected Sandipkumar Gupta; Mr. Rajdipkumar Gupta; Mr. Chandrakant Gupta; Sudha Navandar; Nimesh Salot and Mr. Arun Gupta, for their dedication and beautiful workings, I salute them. Now I most welcome our new management, our most respected Chairman, Mr. G. Boutin; our respected MD and Group CEO, Mr. Rajdipkumar Gupta, who is our old promoter and still continuing as MD and Group CEO. I also welcome our Director, Mr. Mark Reid; Independent Directors, Mr. Anil Kumar Chanana, Prakash Advani and Ms. Harita Gupta. All of you are most welcome to our Board. Thank you, sir. Thank you all. Sir, I'd like to give thanks to your secretarial department for sending me annual report, annual notice and necessary joining link well in advance. I also received the hard copy of annual report as I requested to your department, which I received well in advance. So thanks to our respected Company Secretary, Mr. Rathindra Das, thanks so much. [indiscernible] dynamic person. And his assistant, Mr. Pratik Joshi, is also a good person, and his whole team, including Gautamji, Sunilji for rendering very good services to our minority shareholders. So thanks again, sir. Sir, I have received your wonderful annual report, consisting 352 pages, which is very, very informative and very attractive. I also -- I must appreciate you. Sir, you have provided in details regarding your accounts part and the performance of your company in your annual report. And Chairman sir, you have also expressed your views in your beautiful speech, which is amazing, which is amazing, and also very encouraging. We are very appreciative, sir. Sir, now, we have some queries. Sir, what is the roadmap of your company for the next 3 to 4 years, especially related to the growth of our company? Sir, what is the direct and indirect impact on our company after the implementation of Union Budget 2024-'25? Sir, at present, how many employees do you have, both permanent and non-permanent? Sir, in your IT service and consulting sector, there is a huge competition. How are you able to manage this, sir? Please tell us. Sir, congratulations for various awards and recognitions you achieved. Thank you, sir. Sir, the face value of our stock is INR 10 each at this right moment. I'd like to know, do you have any plan to split up your stock from INR 10 into INR 5, into INR 2 or INR 1 in near future? Sir, please continue this VC meeting in future, as we may be able to join from anywhere, sir. Sir, one request, if the situation permits, please do something, at least, for our speaker shareholder. Sir, this is nothing, but a token of love, sir, so please consider, sir. Sir, I'm very proud, very proud to be a shareholder of your company. I'm also very happy. I have full trust with our strong management, sir, like you, and so along with my family wholeheartedly support your all initiatives, which I have already casted through our e-voting. Sir, looking forward with a positive outlook towards our company with higher profit margin and some dividend, 1:1 bonus and return. May god bless you, sir. Stay safe, stay healthy. Thank you very much, sir. Gautam Nandi signing off. And [Foreign Language] to all of you, sir. Thank you.

Thank you, Gautam, sir.

Our next speaker shareholder is Ms. [indiscernible].

Can you hear me?

Yes, ma'am.

I'm very clear and audible. Okay. Respected Chairman, Guillaume Boutin; MD and CEO, Rajdipkumar Gupta; Mark Reid; other directors on the Board, my dear fellow shareholders in this VC and Mrs. C.E. Mascarenhas. I'm speaking from Mumbai. First, my greetings to all the outgoing directors, and all the best to them. Today, I don't see Mr. Sandipji, who was our Chairman till last AGM. I hope he is doing well, and please convey my regards to him. Now I thank the company's Secretary Mr. R. Das and his team members, especially Mr. Pratik for helping me to register sending me annual report and also giving me this platform to speak, which was very easy to operate. Thank you so much, entire secretarial team. They are a very good link between [Audio Gap]. Now I read that Proximus are our largest shareholder, and I welcome the new directors of Proximus, Mr. Guillaume and Mr. Mark. Now, I request you, and I am a lifetime -- I will be a lifetime shareholder of this company with abundant trust. Please visit our office, sir. I request you to arrange an office visit for all shareholders who have attended this meeting so that we can meet you and all the new directors. Also, sir, do you plan to invest in Route Mobile in the future? Because this is a very good growth-oriented company. Now, on the employees front I go, we -- because they are the hands and legs of the institution. We have around 1,000-plus employees. How are you planning to reskill our employees for further enrichment by adopting all AI, GAI and cloud and ChatGPT. And other still more various types of softwares are coming. What's the [indiscernible] level? If it is high, how you will retain them? And what is the ratio between male and female breakup? Next question is, what are the new technology market trends you see, which will impact our business? Then, I really congratulate for all the awards and applauds, which are all listed in the annual report. I'm very proud of that. Very good CSR work. Also, I must thank you all for giving a dividend of INR 11 on par value of INR 10, and also more I like because most of the balance sheets I read, they hardly transfer anything to the reserves. But here, I saw this company transferring INR 12,193 crores to the reserves. This speaks very great of the company. Lastly, what is the future roadmap for the next 3 years, the CapEx requirement for organic as well as inorganic growth by acquisition and which vertical will be the growth engine with good margins in the future? I support all the resolutions, and I wish you, sir, Mr. Boutin and the entire Route Mobile team very good health as health is wealth. With this, thank you so much. God bless our company, god bless all of us, and [Foreign Language].

Thank you, ma'am. Let me just answer a few questions. I would like to say thanks to Mr. Batliwala for raising -- was sharing some great thought about company. We are really happy to have you as our shareholder. Mr. Gautam Nandi, thank you, sir, once again. And Ms. Mascarenhas. So I can just collate all the questions. So let me start with the road map, which I think all three of you have asked. We as a company, as I've already shared in my presentation that we are on the largest CPaaS company in terms of volume globally. We have a very clear road map for next 3 -- 2 to 3 years. Down the line, we want to keep the leadership position and we are working very closely with large brands globally, and we are working very closely with the operators also, so building on WhatsApp, RCS as well as on digital identity. As a company, we have a very clear road map for growth for the next 2 to 3 years down the line. We are definitely going to see growth coming from emerging markets as well as from a developed market. The market where we operate right now, we see huge potential of digital identity product, which is coming directly from TeleSign's product stack. And we are very much bullish about taking this product to all the customers where Route Mobile has a direct access. So that's a road map, we believe as a road map, we are definitely looking out to reach out $1 billion revenue in 3 to 4 years down the line. And as a CEO of this company, we have a very clear path defined and how we want to reach that $1 billion revenue in 3 to 4 years down the line. As far as R&D is concerned, we -- as you all know, we already have set up our R&D lab Route lab in Bangalore. Now we have more than [120 ] people working in that lab, and we see lots of product coming -- emerging out of Bangalore Route lab. In coming days, we are also going to invest heavily in R&D because looking at the market and the trend in the market, especially on two-way communication, e-commerce adoption and digital penetration and mobile -- digital adoption as well as the smartphone penetration happening in the emerging markets, we believe we really need to build solutions, which is going to create more value to our customer. We want to work with customer -- with our existing customer at this point of time where we can give them other services offered by our group. That is one key area for us where we are very much looking out to combined our offering as one offering to all our existing customers and try to win new customer based on our new offerings. And as a market penetration, we have a strategy to make sure we will win more customers in coming years down the line. As far as the merger and acquisition is concerned, at this point of time, we will definitely look at for smaller tuck-in investment, but not looking out for any large acquisition at this point of time. Maybe I cannot comment at this point of time as and when we see some opportunity in this -- in new tech space, if required, we will think over it. But for the time being, we have no plans for any large acquisition. But yes, in future or in coming days, if there is a smaller investment required to add a product portfolio to Route Mobile offering, we will definitely look into it. As far as the market strategy for the new market is concerned, Route Mobile as well as TeleSign or as a Proximus group, we are working out to scale our regional presence and the regional market approach, where we want to set up our new offices in global market and to gain the local domestic customer base because we want to follow the philosophy of we local, serve local concept where the local banks, local e-commerce company can contribute higher in terms of margin and revenue to our portfolio. So that's a strategy which we are working on, and we will very soon deploy this strategy in various markets globally. Bonus share and split definitely not in the timeline, right now we have, but maybe we can look into this in near future. So I may not comment on this right now. As far as the question about number of employees, we have about 1,376 employees at this point of time. In India, about 1,082 employees, and across the globe 294 employees. There was a question about male to female ratio as well. I hope we have the number. Maybe the -- our team will share with you separately. Yes, I think these are the broad question, which I have noted down. Look -- so yes, we can go to the next shareholders, if they have any questions.

Our next speaker shareholder is Mr. Gautam Tiwari.

If it is taking time, then maybe we can call up the next speaker.

Okay, sir. Our next speaker is [ Ramesh Bhola ]. Okay. Our next speaker is Ravikanth Kirtaniya.

Am I audible?

Yes, sir, you're audible. Please go ahead.

I'm Ravikanth Kirtaniya from Vashi, Navi Mumbai. Good evening, everybody in panel, Board of Directors and my fellow shareholders. I welcome new management to our company. And thanks to Rajdip sir to continue as MD and CEO. And also thanks to Anil Kumar Chanana who is our ex CFO, brand HCL Technologies, we feel that our company is best on the way. And thank you to Mr. Company Secretary, Rathindra Das, Pratik Joshi, Assistant Company Secretary; Gautam Ji; and Suresh Jankar, who is sending me the link and annual notice at right in time. Sir, I have following question. Please, one is you were so [indiscernible] in giving [ ESPO ] in past. Any new plan to fresh ESPO to employee? And my second question is what percentage of revenue or earnings is generated from foreign market? And what is the company market share in major foreign market? My third question is I would like to request the management to kindly conduct and call quarterly presentation and meeting with global investors on a regular basis, so that this will bring more emerging knowledge to management as well as investor fraternity. I also thank, once again, Mr. Pratik Joshi, Company -- Assistant Company Secretary and Rathindra Das Ji Company Secretary for sending me the -- And thank you. I support all resolutions. And best wishes for coming festival.

Thank you, Mr. Ravikanth. I think as far as the ESOP is concerned, we have definitely working -- worked out a plan for our employees for long-term incentive plan and the short-term incentive plan. We were still looking out for option to think our ESOP option. Right now, nothing has been decided. But long-term, LTI and STI has already been defined for most of the employees. That's my answer to your first question. As far as the revenue per market is concerned, our team will definitely share this information over the e-mail with you. And I think as far as your quarterly investor meet is concerned, we, as a team, very much engaged with various investors globally, and we are definitely doing our everything to let our investor -- or the new investors know about our progress as well, what are the things which we are working at Route Mobile. But again, I take your point as a positive note. And definitely, we will look into hosting investor meet kind of thing every quarter. But if it's possible to do that, we will definitely look into that. But as far as the company is concerned, we very often meet investors and try to share information about our growth with them very frequently. Thank you.

Sir, our next speaker is Mr. Anil Kumar -- Anil Mehta.

Hello. Am I audible?

Yes, sir, you're audible.

This is Anil Mehta, I think this meeting from Mumbai. Sir, first question is regarding that, what's the effect of the current budget on our business? Second is what the company is doing to improve the shareholders' relations? The third is how the company is appointing the director as a company, funding any recruiting agency? And the company accepting any nomination from the shareholders for the directorship. With this, we are supporting all the resolutions and thanks to the secretarial department for their cooperative and supportive nature. Thank you. All the best.

Mr. Anil Mehta, I can just share with you, I think -- I don't see there's any impact of current budget on our business. We can go to the next question, please. I think he was saying something. So can you check or he has logged off.

Yes. Sir he is there, I think he's facing some technical error. So should we go to the next people? Yes. He is there.

Yes, go ahead, Anil Ji, you were saying something. Okay, Rimpa, I think we've lost him. Now move on to next speaker.

Am I audible now? Am I audible?

Yes, you are.

My second question is that what's the company is doing to improve the shareholders' relations? Can I ask the third question, sir?

Yes, please go ahead.

My third question is that how the company is appointing the directors, has the company appointing any recruiting service agent for this or company accepting nomination from the shareholders for the directorship. That's all from my side. All the best, and thanks to the secretarial department for the cooperative and supportive nature.

Thank you, sir. So your first question, like as far as improving or working on the shareholders relation is concerned, we are sending out communications on a periodic basis from time to time, even going beyond the legal requirements. For example, we share our quarterly results and everything over e-mail with all the shareholders. So that's something which we do voluntarily and strictly not though required by the law. We believe that our shareholders deserve to know about our results and updates from time to time throughout the year and not just at the end of the year. We have also this year, initiated a shareholders -- not just only on the financial aspects, but in terms of receiving various information and updates from the company's side. And I'm happy to share with you that we have got some very encouraging responses and feedback from there as well. Your second question, as far as the appointment or induction of directors on the Board is concerned. Typically, our nomination and remuneration appointment needed to be ratified by the shareholders, which the company had also reached out within the prescribed timelines. Rather, we have completed that formality and process also within the next 2 months. So I can confirm that all the current directors who are on the Board and attending this meeting, they have been approved by the shareholders. Thank you. Rimpa, if you can call the next speaker.

Yes. Our next speaker is Mr. Alyosha Mascarenhas.

I'm the next speaker in the queue, can I proceed? Hello, can I?

Yes, sir.

Respected Chairman sir, very distinguished members of the Board and my fellow shareholders. Good evening to you all. My name is Alyosha Mascarenhas. At the outset, I thank the management, company secretary and their team for sending it such a beautiful voluminous picture, annual report, full of facts and figures in place. It's worth keeping it, not only reading but preserving such a beautiful annual report. Our results is excellent. Our PBT, PAT has gone up substantially compared to last year. Our gross margin has also gone up. Our EPS has gone up. Our book value has gone up. And a very good dividend of INR 11. Keep it up, sir. We are a global company. We have spread over most countries of the world. Number question here is, how will we get revenue, especially in dollar terms, if you get revenue in dollar terms, we stand to gain, because dollar rises day after day as against the falling rupee. So this is my question, what is the revenue that we get in dollars? And the other important thing is about the Union Budget, how it has affected our company? Rest, many questions have been asked by my predecessor shareholders, and more will be asking my succeeding shareholders. So I end my speech. Wishing you as personally. All the Board members and more importantly, all the employees, all the very best in the days and years to come. With this, sir, thank you very much. Good health, good luck and goodbye.

Yes. So in terms of the revenue realized in dollars and euro, it pans out to be about 70% of our revenue comes in dollars and euro. Lion's share of that is dollar. And on the Union Budget, I think Rajdip has already answered. There isn't any material impact on the business per se.

Can I move to the next speaker?

Yes, please.

Our next speaker is Mr. Gautam Tiwari.

Okay. Honorable Chairman, sir, in fact, new management team, I really welcome new management teams. So you can listen me comfortably, no, sir?

Yes, we can. Please continue.

Thank you very much. Sir, I, first of all, welcome our new management team Mr. Guillaume Antoine Boutin, our Chairman; Mr. Rajdipkumar Gupta, who has continued, as our old promoter of Mr. Mark Reid; Mr. Anil Kumar; Mr. Prakash Advani; and Ms. Harita Gupta, I'm very sure this team will be proved as a wealth of experience, and with very innovative ideas, this team will take a company to greater heights. At the same time, my greetings to our old management team Mr. Sandipkumar Kumar, I wish him all the best, and Rajdipkumar Gupta who has continued. Then our Chandrakant Gupta, Sudha Navandar, and Nimesh Salot, and Arun Gupta. I really welcome. We really appreciate their contribution and invaluable guidance to our company who has steered in the past the company very well. Honorable Chairman sir, this is -- and all my dignified and eminent Board of Directors, a team Route Mobile, our CS Rathindra Das, and associates Pratik and Ela also. And the team of Route Mobile Limited. Myself Gautam Tiwari I am participating at this meeting from Mumbai. So, dear sir, first of all, I would like to congratulate each and every stakeholder of my company on posting such a robust and fantastic numbers, assets of numbers quarter-to-quarter in the fiscal year. So it's a very good portraying to have a talk with you. I'm very much pleased to have a talk with you, sir, on this platform. Thank you, sir, for providing me this opportunity. Thanks to our CS team headed by Rathindra Das, and Pratik especially who has really hit quite a lot and also. And Ms. Ela also, and our secretarial team is, sir, marvelous, one of the best in the global industry with excellent investor -- investor service. Very soft spoken Mr. Rathindra Das polite very much -- I mean, he is dynamic, intelligent and young secretary. And even his associates Pratik, they have had quite a lot. I really salute our secretarial team for excellent annual report, a physical copy of which I got transparent, informative and robust. And which I got in time. And I have also congratulate the company before winning many awards and accolades. I'm very happy with the company since inception I'm a shareholder, sir. For excellent CSR activities also, I congratulate the company. Sir, then I really strongly welcome our new directors on board. And sir, I see a lot many new faces on the dais the company will be stable in future with a firm stability with so many changes. Sir, I also support all the resolutions and heartily support your dividend payment of INR 2 per share also along with 3M Digital acquisition. Sir, would you be -- would you highlight, sir, some details of the 3M acquisition and how it will be merged to your business so as to boost the revenue, sales volume and profitability? Sir, with so many new directors on Board, how are you going to build company's leadership team for future? Sir, hearty congregations for donating generously under CSR scheme for old age home. Sir, is there any other area that you like or any other plan for CSR activities? Also, sir, your Bangalore R&D labs, is very fantastic. We request you to arrange a visit once for all the shareholders, at least for speaker shareholders. Sir, how do you plan to continue upskilling and adopting the company's workforce to be AI ready? And sir, would you kindly please tell us like AI impact on our business in any manner? Sir, additionally, how does Route Mobile manage the cost and associated with human resources in the current challenging global landscape? Sir, also, sir, is there any new plan for acquisition now in your view? And in the past, you have done a lot of many successful nice acquisitions. But for last 2 years, no acquisition at all. So any prime reason for this, sir? And sir, I'm very happy -- sir, how many R&D centers we have got and how many scientists are working? I would like to know your future road map, sir. And I'm very sure, sir. The way you have been working, our MD -- our full management team is very, very comfortable, very, very expert with excellent business acumen and business expertise. I'm very happy, and I wish you and I'm very much confident that in the years to come, Route Mobile will shine not only at national level, but even at international level precisely well. Our secretarial team is very good, all the staff is very good. All employees, as you have said, so many employees, but they are also very good. Sir, I would like to know any physically challenged employees we have got with us or not? And sir, now because our company very new, there is no question of transferring any dividend or shares to IEPF. But I would like to know your future roadmap for this year and the next immediately. And sir, what is our -- how many orders of ours are pending? How many have been fulfilled? And how many new customers have joined, customer base? We would like to know. And reinstall once again, I really congratulate our CSR team, each member of CSR team, each member of our [indiscernible] team, and finance department, and each member of the management team because I have got total trust and faith and confidence in the management, therefore, our unstinted, continue encouraging support for the management is there, was there and shall continue forever until we breathe our last. And I wish the whole management a very happy, a healthy, wealthy life in future with prosperity and a bright future under your leadership, super fine leadership for the company. And once again, I wish you all the best. I would like to share my camera later if you can see me. Sir, can you see me, sir?

We can see you.

So the last time when I started camera, it all disappeared so that I'm very sorry, my apologies, sir, that because everything disappeared, I had to again, again, log in and again I have to come to you. But I couldn't say because I have taken a special time, missed all other meeting to join and express my views on this platform. Thank you very much, secretarial team, Mr. Pratik, Mr. Rathindra Das for giving me this platform, and management team for allowing me to speak in this 20th AGM platform at -- and express my views here. And once again, I wish you all the best, and I'm sure in the days to come, our team -- our Route Mobile will shine like anything.

Mr. Gautam, are you there? Rimpa, think the line got disconnected. Can you confirm is he?

Sir, he is there like should we try to reconnect.

So can we wait for -- to answer his questions or...

Technical team, can you can check Gautam Tiwari. Technical team?

For the larger interest of the other shareholders, I think there are a few points which has been raised by Mr. Gautam Tiwari. I would like to answer a few of them. Last year, we started initiative to start hiring physically challenged people. And I think we have one employee who has been hired in HR department and we see a great potential in people who are physically challenged and in looking forward to have more people in coming days. But I think it's a great initiative to support them. And we, as a company, believe that they have more talent than normal people also because the kind of response we have got from this lady who joined our HR department, we are looking forward, sir, for more such hire in the coming future. As far as the 3M Digital acquisition is concerned, I want Gautam to just give some input on that, please, Gautam?

Sure. Good evening, sir. So I think from -- I think -- thanks, once again for all the kind words that you have kind of shared about Route Mobile. On 3M, essentially, I mean, it is a consolidation of CPaaS undertaking in -- under the Route Mobile umbrella in India. So under 3M, they already have a CPaaS leg of the business, which we are trying to kind of acquire through slump sale and consolidated under Route Mobile, so that Route Mobile drives the CPaaS vision for Proximus Group. So that's the thought process in India. With respect to the developers. So we have about 270 developers in the company, working on all the new R&D initiatives. And I think most of the other queries, I think were already answered in terms of the dividend roadmap, Rajdip called out during his presentation that we intend to give about 20% of the annual PAT as dividend. Thank you.

Rimpa, is there any other speaker?

Our next speaker is Mr. Ramesh Gola.

Can you hear me?

Yes, we can hear you.

So very good evening. My company Chairman, team, and our MD, Rajdip Kumar sir; our Directors, Mark Reid; and Anil Kumar Chanana; and Prakash Advani, Harita Gupta Ji. Sir, warm welcome to you, sir. And also, my whole management team Sandipkumar Ji, and Chandrakant Gupta Ji, Sudha Navandar, Nimesh Salot, and Arun Gupta. Sir salute to my old management, sir. Sir, welcome to my new management. I'm Ramesh Shaker Gola, speaking from Hyderabad, sir. Sir, first of all, congratulation to my all directors and Chairman and Managing Director, and also secretarial team. Sir, nice to see you at the dais, sir. Also, welcome to our new directors. I hope our Chairman, Sandip Ji is doing well, is doing well. I see Chandrakant Ji has also stepped down. Sir, please give him my respect and regards. Thank you, for providing me the platform to speak about something before you. Thanks to our secretarial department, our beloved Rathindra Das sir, and Pratik. [Foreign Language] He is a very good and nice persons and humble persons, all the -- my secretarial team. with the joining and registration as a speaker shareholder. So who are the company key suppliers, sir, my question sir? Any major suppliers changing their business models and now competing directly with the company? Sir, tell me about our new acquisition company sir, [Foreign Language] Sir, you have call centers business with that company. Also entry, any new line of business? And also, sir, why don't you go to other cities of India for the call center business? Does the company sponsor are encouraging employees to work from their homes? Has this increased the productivity? How do you control and monitor the workforce 1 or 2 sites, sir? Sir, a general question, sir. Sir, what is the roadmap for the coming 2 years? Sir strictly, we are asking you, sir, bonus shares to minority shareholders, please do answer. So rights issue shares to minority shareholders at par, sir. We're asking more dividends, sir. Sir, I want to very much interest to office visit. Arrange to speaker shareholders, how many is there, speaker shareholders? Please arrange? Sir, how many employees and men's and women's, please break up and tell me, sir? Sir, what is the coming for the year? Sir yes, revenue increase [Foreign Language]. Sir, why you are not conducting investors meet sir? Give me the opportunity to me, sir, when we come -- when will come? Please note it down sir? Sir, that too of, sir, [Foreign Language] Sir, in this happy occasion, I am asking you sir, please send me to speaker shareholders or attendees 1 kg dry fruits box, sir. Please sir. [Foreign Language]. Sir, thank you very much for giving the opportunity to me sir, and God bless you all. Sir, finally, my conclude [Foreign Language] Rathindra Das and Pratik and other, sir, is very good and giving services. [Foreign Language] first of all, ethics importance. [Foreign Language] very happy to Mr. and coming Ganesh Festival, [Foreign Language]. All the best and God bless you sir for give me the platform. Thank you so much, and have a good day. And all sir, [Foreign Language] visiting sir, my company. Thank you very much.

Ramesh, sir, thank you very much. I think as far as the male to female ratio is concerned, it is 3:2. I think I have already answered multiple question of yours, but I would like to also answer about the key suppliers. We as a company connected with almost 1,000 operator globally, out of that, more than 350 operators globally. So our key suppliers are spread out all over globe. We buy connectivity from operators, we also work very closely with Meta and Google as a partner. As far as the call to connect BPO services is concerned, we right now have all our centers set up in Mumbai, and we have a plan to expand to it -- same to Bangalore or Delhi in coming years down the line. But right now, we don't have any such plans to expand it to other cities. But point well taken, we will definitely consider your point. But right now, we would love to focus completely in the Mumbai market. Apart from that, I think I've already answered most of your questions, and you are welcome to visit our Mumbai and Bangalore office. You can coordinate with Mr. Rathindra Das or Pratik. Happy to host you at either office, either in Bangalore or Mumbai. Kindly share your details with Mr. Rathindra Das for a visit. Apart from that, I think we have already answered almost all the questions. We can go to the next question, please.

Our next speaker is Mr. Himanshu Trivedi.

Am I audible?

Yes sir. Please go ahead.

Yes. Myself Himanshu Trivedi. I'm speaking from Godhra, Gujarat State. My only two questions. My other colleagues, so many questions asking, another time is much more they have taken. So how many rupees spend in research and development? And how many rupees spend in CSR activity? Hello? Hello?

Sir, you're audible.

Got you questions. Thank you.

And how many research center, research and development center in abroad and in India?

So right now, we have R&D center in Bangalore and Mumbai, and multi as well. Along with that, we also have -- we acquired a company in Colombia, and we have an R&D center in Colombia as well.

And to your question on our CSR spending. So for the fiscal year 2023, '24, we have spent around INR 84 lakh last year on CSR. Thank you.

Our next speaker is Mr. Jehangir Batliwala.

Respective Chairman, Mr. G. Boutin; MD and CEO, Mr. Rajdip Kumar Gupta, other eminent and distinguished dignitaries on VC platform, Company Secretary, Rathindra Das and his dynamic CS team. Fellow shareholders on VC. Good afternoon, all of you. My name is Jehangir Batliwala, and thanks for inviting me to speak. Sir, first, at the outset the complements to the Board for declaring a final total dividend of INR 11 per share and keeping the shareholders happy. And also for the various awards and accolades mentioned on Page 8 and 9 month during the year, sir. Given the good work, sir. Sir, I'm happy to see that -- I'm happy to see you again, and I have supported all the resolutions through e-voting. I hope [ SM ] Digital will add great revenue. Sir, as a shareholder, I'm very happy about the company's performance or the financials. Though there are some challenges on the way -- though we have faced some challenges on the way, we have faith that the management will overcome all this and post excellent results. The situation in Europe is slowing down. How will the management face it, sir? And sir, there is also another role for you in CPaaS as CPaaS Head, can you talk about it? And what will be your role in it or how will you take care of it? And I think, sir -- our Mr. Gautam Badalia, who's our Chief Strategy Head, will also play a good role in it? Sir, complements to the CS company secretary Rathindra Das and the secretarial team, particularly Mr. Pratik Joshi, who has an excellent investor services and solved most of the queries and also for the whole CS team. And the CFO for a lovely balance sheet, which is colorful, knowledgeable and adhering to all the norms of corporate governance. Also, does the company plan to list Route Mobile on any foreign stock exchanges? So we see recently, there are some new directors and also there is a proposal to pay -- for pay commission, et cetera, for them for the first time. Hope this has been checked. Well, with any past history, will the shareholders also benefit out of it? Sir, there were some recent announcements with Microsoft deal. Can you highlight -- how does the company plan to expand the market share? And sir, kindly think about some bonus. Also, we would like to -- like our old CM and promoter, Mr. Sandipkumar Gupta, to be back in the Board of Directors with a benefit of the company. Sir our AGM balance sheet is exhaustive and as there is lot to say, and discuss, but I will go in myself by putting just some normal queries like what is the CapEx and R&D CapEx and how do you plan to fund it? Good plan and the road map for the next 2 years. Any new verticals you plan to introduce for revenue generation? And how much are we taking from AI? And in future, how much will AI be helping us? Sir, I end with wishing all the Board members and the family of Route Mobile, all the best for the future and also complement the festive season to one and all and Route Mobile, sir. Thank you very much for patiently hearing, sir.

Thank you, Mr. Batliwala. I think about the 3M Digital acquisition, Gautam has already explained how it's going to create value to Route Mobile? The second question, as far as CPaaS lead is concerned. Let me just clarify out here. It's a very valid question. My role has now expanded. Now it is not limited to Route Mobile CPaaS. It is now a combined entity of Route Mobile and TeleSign. So I'm going to lead the entire CPaaS business of both the company. And I think that's a very large-scale business, which is going to be under me. And I'm already took the in-charge -- charge of the same, and I'm really working with the global team to make sure we generate more revenues and more -- we win more customers for that. And as far as the foreign exchange listing is concerned, I think in foreign countries, we have no plan as yet, apart from, I think, Microsoft deal, I think all the details have been already been shared with most of the -- with everyone via our press release, you can just refer the press release for more details. Bonus share is, again, the question we need to think about it, as of now there is no plan. As far as the AI investment is concerned, as I mentioned, our entire omnichannel stack has lots of AI, a piece integrated with it. We are already using AI in most of our solutions as we speak. And in future, we are also going to take more AI-based solution to our customer to give better outcomes to them. So we, as a company, are very much focused on AI deployment with a customer as well as R&D. So these are the few questions you have asked, and I think I've managed to answer all your questions. If there's anything which has not been answered, I will let my team -- compliance team to send an e-mail across to you.

So Rimpa, I think we have taken questions from all the speakers, and we are done.

Yes, sir.

Thanks, Rimpa. Now I would like to hand over mike to GM for closing note.

Thank you, Rajdip. I want to thank all the members for the queries and views, all the items of business as per the notice of the 20th Annual General Meeting have been taken up. The screening either, Mr. Prakash completion of the e-voting at this meeting and brought the votes cast through remote e-voting and e-voting by members during the AGM. And make consolidated scrutinizer's report of the total votes cast in favor of and against the resolutions. I am authorizing Rathindra, Compliance Officer to receive the scrutinizers register, report on voting and other related papers with the recruiters and also the counter signed scrutinizer's report and the receipt of the same and declare the results. The combined results 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 of India Limited where 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 completion of the meeting. On behalf of the Board of Directors and management of Route Mobile, I convey our sincere appreciation to 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 yourselves. I now conclude today's proceedings. Thank you very much, and have a good day.