GTT Data Solutions Ltd Share Price

History of GTT Data Solutions Ltd

GTT Data Solutions Limited was initially established as 'Cinerad Communications Limited' on September 17, 1986. The new name 'GTT Data Solutions Limited' is approved by the Central Registry Centre, Ministry of Corporate Affairs on August 7, 2024. The Company was earlier involved in the production of advertising films. Its client base included corporate entities from various segments of industry. It produced two India Tourism commercials for McCann Direct, New York, a division of McCann Erickson, currently one of the largest advertising agencies in the world. In 1993, the focus of the Company's activities changed from the production of advertising films to the planning and establishment of a Digital Video Editing and Computer Graphics Facility. In 1997, Studio Mirage, a unit of the Compa ...ny entered a strategic alliance with Prasad Corp's EFX of Mumbai, to provide world class digital effects for the Mumbai film industry. Further, the Company also entered into an agreement with Tektronix (India) for the setting-up of the Heavy works Non-Linear Film Editing System at Studio Mirage. The Company is one of the leading & well known name into documentary, advertising and short films in the Mumbai and is engaged in to the production of advertising and promotional films, documentaries and feature films. As Company belongs to Media & Entertainment industry which reveled opened door for the Company to Film industry, television, print, music and radio, the different main components of Indian media and entertainment sector. At the same time, it infused huge funds to start film production with greater risk and whereas the Company had experienced financial distress in past. The Company in 2019, has introduced a Trading Activity to the Object in MOA of the Company to generate revenue from trading business activity. Over the years, a lot of changes have been seen into the advertising Industry, which positively affected the players in production of promotional feature films, Distributors and Exhibitors. Over the past couple of years, the business of corporate advertisement, short film etc. making had changed due to corporate, increasing production costs, spiraling actor fees and high acquisition costs for content. The Company has evolved with the times and significantly corporatized itself, bringing an experienced professional team for driving the future strategic direction of the Company. In FY 2024-25, the Company acquired two subsidiaries namely Global Talent Track Private Limited and Itarium Technologies India Private Limited on March 13, 2024. The Company has inserted the new object clause in the Memorandum of Association of the Company by availing approval of the members at their extra ordinary general meeting held on June 8, 2024. The new object clause will expand the business of the Company into field of comprehensive IT services encompassing software development, customization, integration, and maintenance across diverse industries and verticals, catering to both domestic and international clients and specialize in offshore/onshore software development projects, delivering cost-effective and high-quality solutions to global clients, leveraging India's skilled workforce and technological expertise and other ancillary areas as more particularly described in the proposed main object clause of the memorandum of association of the Company.