Coral Hub Ltd - Stock Valuation and Financial Performance

Vishal Information Technologies Ltd was incorporated on May 2, 1994 and is and is now well established in its four areas of operations, namely Data Digitization & Conversion, E-Publishing, Digital Library Solutions and Print On Demand Conversion.

With a business plan to use India's abundant talent, world class business infrastructure and an enabling regulatory environment, Vishal started its operations to provide secure, high quality and cost-competitive IT enabled services to European and US markets in the year 2000. Amongst the first Indian companies' operating in the ITES/ BPO space, Vishal started its enterprise with a humble 3000 square feet of office space, a personnel strength of 30 and a turnover close to $250,000, generated from Data Digitization and Conversion Services in its first year of operation.

Today, Vishal has grown into a $10.2 million, multifaceted ITES/ BPO company, covering the entire gamut of I.T. enabled / BPO services, with the exception of voice based call center business. Its business premises have grown to 15,000 square feet, and are located in the metropolitan cities of Mumbai (Bombay) and Chennai (Madras).

In today's information age, ease of access to data determines the effective working of an organization. The preferred way to achieve this is to publish its data in digital format.

Vishal, a Digital Content Solutions Company, led by a management team that has over two decades of solid Information Technology/ Content Management expertise. Assisted by a core team of experts, including many who have been with the company since inception, Vishal can scan 20 million page sides per month, digitizing them into various electronic formats at the rate of 600,000 page sides in the same time frame. Vishal has the ability to quickly ramp-up capacity to maintain aggressive turnaround times, whilst maintaining very high quality standards, approaching zero defect, with consistent accuracies of 99.9% or better.

Products/Services offered by the company:

• Data Capture & Conversion Its tried and tested conversion process produces the high quality and consistent data. This means its customers save money- just like they do with any high quality product or service.It help customers in migration of their existing data to desired formats, for example, from PDF to HTML/RTF/Word & Quark/Word/HTML to PDF. It also provide data conversion support for major formats such as SGML, XML, FrameMaker, WordPerfect, Interleaf, Xyvision, Folio and Image formats.
• Print On Demand Conversion Print on Demand Conversion is a natural addition of the company's Digital Library Solutions, that is, apart from making available books in digitized format in an online library, the coompany provide services to make these books available in Print Ready Format as P.O.D. Its customers for these services include on-line book stores, on-line P.O.D. (Print on Demand) publishers etc
• E-Publishing It offers world-class production support to Nodal Agencies, Government and Semi Government Organizations, NGOs, Publishing Houses etc. delivering consistent quality services right from data capture to conversion in XML,SGML and/or HTML and other structured formats, extending to e-Publishing through On-Line Journals, E-Books and CD-ROMs. It has capabilities in handling pagination software such as InDesign/QuarkExpress, TeX & LaTex and manage foreign languages with predominant English alphabets.
• Digital Library Solutions Digital Library Solutions is fast becoming an important Services vertical for the company. A service of social significance, we help the visually challenged and the blind access with ease quality reading material on their desktop through the Internet. The company has tied up with multiple NGOs for make a difference in the lives of the visually impaired and the blind.

Subsidiaries:

• BASIZ Fund Service Pvt.Ltd  Basiz Fund Service Pvt Ltd (Basiz), a Fund Accounting service KPO was incorporated as a Private Limited Company in 2006. Basiz services Fund Managers, Administrators, Custodians and Prime Brokers. Based out of Chennai, India, Basiz specializes in various accounting standards and instrument structures, and primarily focuses on servicing Hedge Funds, Mutual Funds, Private Equity Firms, Family Offices, Insurance Portfolios and Managed Accounts.
• Tutis Digital Publishing Pvt. Ltd  Tutis Digital Publishing Services Pvt. Ltd. (TDPL) was founded in 2007 as a publisher of Classic books. Tutis Digital Publishing Pvt. Ltd. has a catalog of 5,000 titles, one of the largest collections of classics published till date. TDPL titles are sold in over 35 online stores such as Amazon, The Book Depository, Barnes and Nobles, W H Smith, Foyles, Waterstones and Ebay worldwide, covering countries such as the United States, Canada, United Kingdom, Czech Republic, Norway, Estonia, South Africa, Hong Kong, Australia, New Zealand and India
• Digital Content Solutions  Digital Content Solutions Limited (DCS), a UK based complete service provider of digitisation services, was incorporated as a Private Limited Company in 2008. DCS works with businesses of all sizes together with charities, museums, governmental and nongovernmental organisations. Based out of Hatfield, Hertfordshire UK, DCS specialises in converting documents to easily indexed and searchable electronic files. Most organisations have large quantities of paper based or microfilm material which is costly to store in the office and difficult to access when required.

Milestones:

• May 1994 Incorporation of the company on 2nd May, 1994 as Shree Vishal Data Systems Pvt. Ltd.
• March 2000 The company started functioning as full fledged ITES/BPO company.
• May 2000 The company received its first project from United Kingdom for converting tiff image based records to database format.
• June 2000 The company received its first Bibliographic tagging and indexing job from a University in UK.
• August 2000 The company received its first Microfilm based conversion project from Barnet Hospital, UK to capture patient’s records to text based in CSV format.
• August 2000 The company received its first XML conversion job from UK consisting of Quark Express files to XML coding.
• March 2001 Developed in-house data verification programme for attaining 99.998% accuracy level.
• August 2001 The company signed a major contract with International Multilateral Agencies - Europe for a three year period, against global bidding and competition. 
• October 2001 Received a major contract from a University in UK for XML conversion project for a UK Court for digitizing criminal cases starting from 15th Century onwards.
• February 2003 It signed a major contract with a county in USA for Microfilm to Tiff images and further process for Index and data capture.
• June 2003 University in UK directly approached the company for its data conversion demands.
• June 2004 Renewal of contract with International Multilateral Agencies - Europe for a further period of three years.
• April 2005 The company started a new vertical for E-Publishing.
• April 2005 The company signed with a major Online Book Printer and Publisher to convert small font book to large font for the visually impaired.
• March 2006 University in UK signed a contract with the company for their project comprising of longitudinal studies conducted on the Social, Educational and Economic progress. 
• March 2006 The company invested in Basiz making it a 100% subsidiary.
• June 2007 Charitable Institute for the Blind, UK signed a contract with the company for conversion of their repository of books to Large font PDF files and XML format.
• January 2008 Production of 100 titles/day at Tutis Digital Publishing Ltd.
• June 2008 Investment of $2 million by US-based Venture Fund in Basiz
• August 2008 Canadian National Institute for the Blind signed a contract with the company for conversion of their repository of books to Large font PDF files and XML format.
• August 2008 Basiz started subsidiary companies in Singapore
• August 2008 Became a listed company in the Indian Stock Market. Successful Initial Public Offering (IPO) 
• October 2008 Market Capitalization at $65 million
• December 2008 Vishal started its subsidiary company, Digital Content Solutions Ltd. in United Kingdom

Achievements/ recognition:

• VITL is an ISO 9001: 2008 Quality Management System Certified Company.
• VITL also adheres to standard practices followed internationally for Data Security and Information Management