EZMS LLC FZ to help secure lucrative business opportunities in the Middle East
Gandhinagar-headquartered DRC Systems India Limited (BSE: 543268) (NSE: DRCSYSTEMS) has started making inroads into the Australian market, having enjoyed tremendous growth in efforts to expand in the Middle East, Europe, and the US markets.
“Our strategic shift towards becoming an internationally focused technology company is finally bearing fruit,” said Hiten Barchha, Managing Director of DRC Systems India Limited https://www.drcsystems.com/ .
“Overall annual financial performance has shown tremendous growth due to our efforts to expand in the Middle East, Europe, and US markets. We have also begun making inroads into the Australian market.
“While we grow and transform our fortunes through international expansion, India will continue to be our home base for pursuing lucrative business opportunities,” he said on 21 May while announcing Audited financial results for financial year ended 31 March 2024.
The company had entered into a joint venture agreement with UAE-based EZMS LLC FZ to offer Platform as a Service (PaaS) on a Low-Code No-Code (LCNC) platform. This venture is designed to aggressively expand DRC Systems’ reach and secure lucrative business opportunities in the UAE Free Zones and other regions in the Middle East https://attentionindia.com/ .
In the first half of this fiscal year, DRC Systems also strengthened its presence in the US market https://usispf.org/ by establishing a wholly-owned subsidiary, DRC Systems USA LLC. “This move targets the burgeoning demand in the US tech market for high-quality, cost-effective tech solutions,” he underlined.
DRC Systems India Limited has commenced the fiscal year with strategic initiatives aimed at expanding its international presence and securing long-term business opportunities.
Keeping international market in sight, this fiscal year, DRC Systems accomplished a significant milestone by earning the prestigious CMMI Level 3 Certification from the US-based CMMI Institute https://cmmiinstitute.com/ . The Capability Maturity Model Integration (CMMI) is a globally recognized performance improvement framework that helps organizations enhance their operations and deliver high-quality services. This accreditation reflects DRC Systems’ proficiency in software development and its ability to consistently meet or exceed customer expectations.
“With CMMI Level 3 certification, we are well-prepared in targeting major government projects as well as high-end corporate projects in the international markets,” said Barchha.
DRC Systems has also expanded its product and solution offerings by incorporating Artificial Intelligence (AI), Machine Learning (ML), and Blockchain technologies. In FY24, the company acquired approximately a 45% stake in Nighthack Technology Private Limited, a Bangalore-based tech company specializing in AI, ML, and Blockchain technologies. “We have successfully delivered blockchain and AI-embedded platforms for our international clients, meeting the growing demand in the global market,” added Barchha.
Apart from the strategic decision to target the international market, the company also had parallelly implemented its branding strategy, where DRC Systems has actively promoted its products and increased brand visibility through participation in diverse trade shows, both domestically and internationally. The company recently showcased its offerings at DIDAC INDIA https://didacindia.com/ , Bangalore’s premier technology trade show, and later at GITEX Global Dubai 2023 https://www.gitex.com/, a leading tech event in the Middle East, North Africa, and South Asia.
The company has recorded its highest ever yearly consolidated profit of Rs.1,165 lakh, up 74%, in the fiscal year 2023-24, along with a record yearly consolidated operating revenue of Rs.4,768 lakh, up 86%. Fiinews.com
