Galaxy Office Automation announced that the company has achieved a whopping 92 percent growth in revenue in FY 2016-17. Backed by some significant deals in the BFSI sector, Galaxy's impressive topline growth is a result of its strong focus on emerging digital technologies and solutions business. The company's revenue now stands at INR 2.5billion.
"Last fiscal was another impressive year for Galaxy. We witnessed an unprecedented growth in our customer base and topline, which is testimonial of our ability to adapt to this ever-evolving market," said Mr Anoop Pai Dhungat, CMD of Galaxy Office Automation. "We are hopeful of sustaining this momentum in the current fiscal as we invest in new technologies and markets."
While BFSI contributed around 40 percent of the company's total revenue, Manufacturing, Automobile, IT-ITES and Transportation sectors too were critical to Galaxy's growth. Galaxy's clientele includes country's top nationalized banks and financial services companies.
"The demonetization drive, along with the central government's initiatives to promote digitization, has transformed the BFSI sector in many ways. We see a huge market potential for our Digital offerings such as IoT, mobility, analytics and social. Going forward, we are planning to expand our foothold in this market." Mr. Dhungat added.
The company's focus and investments towards fast-growing segments such as hyper converged infrastructure and Internet of Things, resulted in extremely good results in the last fiscal. Galaxy is one of the few solutions providers in India to have developed unique capabilities to address these markets.
Galaxy has partnered with industry leaders to provide Cloud and Mobility solutions, software-defined data center solutions, BI, predictive analytics and cloud among other technologies.
The company aims to achieve 20 percent growth rate in addition to previous year in FY 2017-18, while strengthening its IoT portfolio and investing further on mobility, private and hybrid cloud. The company also plans geographical expansion in new locations within the country and enhancing its marketing operations.