INTERNATIONAL ISLAMIC UNIVERSITY ISLAMABAD

FACULTY OF MANAGEMENT SCIENCES

DEPARTMENT OF BUSINESS ADMINISTRATION

NETSOL TECHNOLOGY

IJAZULHAQ: (6545-FMS/BBA/F21)
AZHAR AZIMI: (6544-FMS/BBA/F21)
M.NOMAN KHAN: (6514-FMS/BBA/F21)
HASEEB ULLAH: (6489-FMS/BBA/F21)

Azimiazhar66@gmail.com

Submitted To: Dr.Hamad Khan

December 22, 2022

1
Table of Contents
Acknowledgement………...……………………………………………………………………………1
Abstract 2
Introduction
3
Mobile Account…………………………………………………………………………….. 4
R EDUCE C OSTS AND I MPROVE C OLLECTIONS ................................................................................5
M OBILE P OINT OF S ALE .....................................................................................................................6
W EB P OINT OF S ALE ...........................................................................................................................7
M OBILE F IELD I NVESTIGATOR ..........................................................................................................8
M OBILE C OLLECTOR ............................................................................................................................9
M OBILE D EALER .................................................................................................................................10
M OBILE A UDITOR ...............................................................................................................................11
B OARD OF D IRECTORS ......................................................................................................................12
N AJEEB G HAURI .................................................................................................................................13
S YED K AUSAR K AZMI .......................................................................................................................14
M ARK C ATON ......................................................................................................................................15
H ENRY T OLENTINO ............................................................................................................................16
M ALEA F ARSAI ...................................................................................................................................17
M ANAGEMENT T EAM .........................................................................................................................18
N AEEM G HAURI ..................................................................................................................................19
S ALIM G HAURI ....................................................................................................................................20
P ETER M INSHALL ...............................................................................................................................21
H UMAN R IGHTS P OLICY ...................................................................................................................22
ANALYSIS 23
CONCLUSION…………………………………………………………………………………….….24
RECOMMENDATION……………………………………………………………………………….25
REFERENCES………………………………………………………………………………………..26
APENDIX……………………………………………………………………………………………..27

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 Acknowledgement

First and foremost, praises and thanks to the Allah (S.W.T) the Almighty, for his
showers of blessings throughout my research work to complete the project
successfully.

I would like to express my deep and sincere gratitude to my project supervisor,

Hamad Khan for giving me the opportunity to do project and providing invaluable
guidance throughout this project. His dynamism, vision, sincerity and motivation
have deeply inspired me. He has taught me the methodology to carry out the project
and to present the project works as clearly as possible. It was a great privilege and
honor to work and study under his guidance. I am extremely grateful for what he has
offered me. I would also like to thank him for his friendship, empathy, and great
sense of humor. I am extending my heartfelt thanks to him, for their acceptance and
patience during the discussion I had with him on project work and preparation.

I am extremely grateful to my parents for their love, prayers, caring and sacrifices for
educating and preparing me for my future. I am very much thankful to my friends
and my brother for their love, understanding, prayers and continuing support to
complete this project work.

Finally, my thanks go to all the people who have supported me to complete the
project work directly or indirectly.

3
 Abstract
The task was to prepare a report of any competing company listed on the Pakistan Stock
Exchange, so I chose "NETSOL TECHNOLOGIES LIMITED" a very competitive and
leading company in Pakistan. The task was to analyses it’s a very competitive and
leading company in Pakistan. Netsol Technologies Ltd; engages in the provision of
automated and information technology enabled solutions, It operates through the
following segments: Global Leasing and Financial Solutions (NFS), Information
Security (IS) and Software Services and Solutions (SSS), and Business Process
Outsourcing (BPO). The Global Leasing and Financial Solutions segment sells licenses
of its NetSol Financial Suit, its customization and maintenance. The IS and SSS segment
offers a full range of information security services and software solutions to help
companies safeguard and confidentiality, veracity, and accessibility of information
regarding its assets. The business process out sourcing segment provides information
technology related outsourcing services mainly in the USA and European regions.

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 Introduction
NETSOL Technologies is a leader in providing innovative IT solutions to the global asset
finance and leasing industry. For the past four decades NETSOL has facilitated numerous
businesses in finding their competitive edge and streamline their business operations. Our
end-to-end products have been powering leasing, lending and wholesale asset management
operations for more than 200 business partners worldwide. With local support and delivery
centers in 8 countries across the world, our team of 1300+ experts ensure that our clients
benefit from the deep industry insight we have developed over the years.
With over $200B+ assets managed globally, 300+ successful implementations, and 25,000+
users globally, all while maintaining its 100% implementation success rate, NETSOL
maintains its position as the leading solution provider to the North American finance and
leasing industry. NETSOL has global offices in North America, Europe, and the Asia Pacific.
NETSOL’s scalable solutions empower clients to effectively manage their complex multi-site
and multi-currency operations and enable them to thrive in hyper-competitive markets
globally.
Proven Track Record
NETSOL Technologies taps into its strong business acumen to find solutions to the unique
set of challenges and constraints imposed by each new project and delivers solutions that fill
performance gaps. We have a proven track record of successfully meeting deadlines and
executing the most complex projects within budget while consistently maintaining the highest
quality.
Ensured Service Levels
With a presence in 8 strategically located cities across the globe, and a team of more than
1300 professionals, we ensure that our clients get dedicated attention from the best minds in
the industry. We boast an impressive portfolio of several quality awards which further
solidify our dominance and status as the finest global service providers.
Pioneers in the Industry
NETSOL Technologies maintains its position as a leader in providing innovative solutions to
the global asset finance and leasing industry. We take pride in being the first organization in
the industry to introduce digital transformation and launch a complete line of digital

5
solutions. We introduced our digital suite to help companies tap into the advantages of
digitization and mobility while taking control of the challenges inherent in this environment.
Domain Expertise
With our rich history of innovation, NETSOL Technologies is a dynamic leader and has been
able to accumulate a wealth of experience in the global asset finance and leasing industry.
We have built a large knowledge base which is regularly refined and updated to ensure the
most up-to-date best practices and business solutions for the benefit of our clients and
partners.
First Level of Support from Strategically Located Delivery Centers in Seven Countries
Worldwide
United States
United Kingdom
China
Australia
Indonesia
Thailand
Pakistan

Our products:-
NFS ASCENT

Ascent is built on cutting-edge technology that enables auto, equipment and big ticket finance
companies to run their retail and wholesale finance business with ease. With comprehensive
domain coverage and powerful configuration engines, it is architected to empower finance
and leasing companies with a platform that supports their growth in terms of business volume
and transactions.

Front Office

Highly agile, easy-to-use, cross-channel applications that deliver an intuitive omni-channel

experience, and enable rapid data capture. Change business rules and approval levels
according to your needs.

Back Office:

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The back office is a powerful, functionally rich application for managing and maintaining
detailed credit contracts throughout their lifecycle and automating and managing floor
planning and wholesale finance.

Self-Service

Self-Service Portals are for customers that enable a completely digital buying experience as
well as the provision of resolving customer service queries themselves on their mobile or web
devices.

NFS DEGITAL
NFS Digital is a combination of our, core strengths, domain and technology. Our insight into
the evolving landscape along with our valuable experience enables us to define sound digital
transformation strategies and complement them with smart digital solutions so our customers
always remain competitive and relevant to the dynamic environment. Our digital
transformation solutions are extremely robust and can be used with or without our core, next-
gen solution (NFS Ascent) to effectively augment and enhance your ecosystem.

Self-Point of Sale
A Completely Digital Buying Experience

Our Self POS portal allows customers to go through the complete buying and financing
process online and on their mobile devices including car configuration, generating quotations,
and filling out applications. It is the ultimate origination application that enables users to
compare, select and configure an asset using a mobile device anywhere, at any time and
submit an accompanying financial product application.

Mobile Account

Reduce Costs and Improve Collections

Mobile account is a self-service mobile/web solution, enabling the customer up the setup a
secure account and view information 24/7 to keep track of contract status, resolve queries and
make payments.

Mobile Point of Sale

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Point of Sale Solution that Enhances Customer Engagement

The M.POS application is a web and mobile-enabled platform featuring a customizable

dashboard along with menu selling, application submission, loan calculator, work queues and
detailed reporting. M.POS empowers the dealer to make the origination process quick and
seamless, increasing overall productivity and system-wide efficiency.

Web Point of Sale

Enhance Customer Engagement and Improve Application Turnaround Time

Realizing the new changed dynamics of customer engagement, our integrated omni-channel
platform gives tailored content to today’s digitally immersed users across the web while
keeping the experience uniform.

Mobile Field Investigator

Enable Field Teams and Track Real-Time Progress

MFI includes powerful features that enable your field teams to perform applicant details
verification on the go. The application features a reporting dashboard that displays progress
stats, action items and the latest notifications so that your teams achieve their daily goals
while tracking their performance.

Mobile Collector

Track Field Teams and Reduce Payment Turnaround Time

Mobile Collector empowers your collections teams to do more, with an easy-to-use interface
and intelligent architecture. The tool exponentially increases the productivity of field teams
by enabling them to carry out all collection related tasks on the go, eliminating the need for
them to check into back offices.

Mobile Dealer

Gain Complete Control Over Your Wholesale Inventory

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Mobile Dealer empowers your business partner with a mobile platform that delivers more
visibility and control over their inventories – with minimal effort. Your dealers can view their
use of floorplan facility, stock status and financial conditions, while entering settlement
requests, relocating assets, ordering new stock and making online payments.

Mobile Auditor

Optimize Audit Processing and Reduce Submission Time

Mobile Auditor empowers your business partner to schedule visits, record audit exceptions
and track assets for higher levels of transparency. It also enables the auditor to conduct audits
and submit results in real-time through quick audit processing tools, providing visibility and
saving significant time.

Board of Directors

Najeeb Ghauri

Founder, Chairman & Chief Executive Officer, NETSOL Technologies, Inc.

Mr. Najeeb Ghauri is the founder, chairman of the board of directors and CEO of NETSOL
Technologies, Inc. In the early years of the company, Mr. Ghauri was responsible for
restructuring NETSOL's business model into that of an IT company. Additionally, he was
instrumental in the completion of the NETSOL Technologies, Inc. initial public offering in
1998, as well as listing the company's major Pakistan-based subsidiary, NETSOL
Technologies Ltd., on the Karachi Stock Exchange in 2005. Prior to launching NETSOL in
the U.S., Mr. Ghauri had over 15 years of combined marketing and management experience
with Fortune 500 companies such as Unilever and Atlantic Richfield Corporation (ARCO).
Mr. Ghauri is also active in various charitable and educational non-governmental
organizations (NGOs) worldwide. He is a founding board member of the Pakistan Human
Development Fund, which provides educational tools to children in underdeveloped areas of
Pakistan.

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 Syed Kausar Kazmi

Independent Director, Chairman of Audit Committee

SYED KAUSAR KAZMI has been an independent director of the Company since 2019. Mr.
Kazmi brings over 40 years of expertise in the banking industry and is currently the Head of
Commercial Banking and Business Development at Habib Bank Zurich PLC, located in
London where he has served in this capacity since 2016. Prior to this position, Mr. Kazmi
served as the Head of Business Development for UK and Europe at Habib Bank AG Zurich
in London from 2012-2016, before which Mr. Kazmi was the CEO of the UK operations of
Habib Bank AG Zurich from 2009-2012. In 2018, Mr. Kazmi was awarded by Power 100,
Parliamentary Review in association with The British Publishing Company a "Lifetime
Achievement Award" for his significant and lasting impact on the banking sector. In addition,
Mr. Kazmi has been awarded by the Asian Media Group the "GG2 Power List" celebrating
Britain's 101 most influential Asians from 2016-2018. Mr. Kazmi received his BSc in
Chemical Engineering with II Class Honors from Habib Institute of Technology in 1974. He
sits on the board of many charitable organizations, with a focus on helping raise funds. Skills
and Qualifications: Mr. Kazmi has strong financial services and management expertise. He
directs the operations of a financial services business, expending its focus on business
development.

Mark Caton

Independent Director & Chair of Compensation Committee

Mr. Caton currently is president of Centela Systems, Inc., a distributor of computer peripheral
solutions in the multimedia and digital electronic market segment. Prior to joining Centela,
Mr. Caton was president of NETSOL Technologies USA, where he was responsible for all
U.S. sales. He also previously served as a senior account executive at plus, a leading
integrator of technology solutions. Mr. Caton received a bachelor's degree in psychology
from the University of California, Los Angeles.

Henry Tolentino

Independent Director, Chair of the Nomination and Corporate Governance Committee

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Mr. Tolentino was elected to the board of directors for the first time in June 2018. Tolentino
brings more than 30 years of experience in the auto finance industry working with global
manufacturers such as Toyota and General Motors. Prior to joining NETSOL's advisory
board, Mr. Tolentino has held several executive positions at Toyota Leasing (Thailand) Co.,
Ltd., including most recently as president from 2006 to 2014 and then served as an advisor
from 2015 to 2016. Prior to Toyota Leasing, Mr. Tolentino spent more than 10 years with
Toyota Motor Credit Corporation, USA. He began his career in the auto finance industry with
General Motors Acceptance Corporation. Mr. Tolentino joined the advisory board of NetSol
in September 2017 where he provided strategic advice to the senior management of the
Company.

Malea Farsai

Director

MALEA FARSAI joined the Board of Directors for the first time in June 2018. Ms. Farsai
worked on the team that took NetSol public and is the one who listed NetSol on NASDAQ
in1999 and has continued to maintain its current listing. Ms. Farsai obtained and is
responsible for all of the Company’s trademarks. After two decades with NetSol, she
continues to work part time as the Company’s Corporate Counsel and is responsible for all of
its insurance needs, as well as various corporate transactions. Having knowledge of the
Company since its inception, she is also responsible for some of the Company’s corporate
governance, intellectual property, SEC reporting and NASDAQ compliance. Prior to joining
NetSol, Ms. Farsai was an associate with the law firm of Horowitz & Beam from 1996-2000,
where she represented both domestic and international public and private companies from
technology to apparel. She is a member of the California State Bar since 1996 and sits on the
board of various charitable organizations in Los Angeles.

Management Team

Naeem Ghauri

Founder, President, Chief Executive Officer Innovation and OTOZ, NETSOL Technologies,
Inc. Mr. Naeem Ghauri serves as the Chief Executive Officer Innovation and OTOZ. He also
is the President of NETSOL's global sales group. While instrumental in numerous
transactions, his most significant contribution was his role in closing the TiG NETSOL Joint
11
Venture in 2005. Prior to joining the company, Mr. Ghauri was project director for Mercedes-
Benz Finance Ltd., where he supervised over 200 project managers, developers, analysts and
users in nine European countries. Mr. Ghauri earned his degree in computer science from
University of Brighton, England.

Salim Ghauri

Founder & Chief Executive Officer, NETSOL Technologies Ltd. Pakistan

Salim Ghauri is recognized as the leading role model for IT professionals in Pakistan. He is
the founder and the visionary force behind NETSOL Technologies, overseeing NETSOL's
operations of the Asia Pacific region. Mr. Ghauri began his career in Saudi Arabia, working
in the IT division of Citibank, Riyadh. He is credited with setting up the first IT-based
training institute as well as a software house in Damam, Saudi Arabia. Before establishing
NETSOL, he was a successful IT consultant in Australia where he worked with BHP Steel in
Sydney as a system integrator. He was mainly responsible for software and hardware
solutions and his main achievement is considered to be the introduction of a PC-based
network in BHP Steel. From 1988- 89, he consulted with the State Rail Authority of NSW
Australia for its MIS reporting. In 2007, Mr. Ghauri was appointed as an Honorary Consul
for Australia-Punjab Region. He received his BS degree in Computers Science from the
University of Punjab in Lahore, Pakistan.

Peter Minshall

Executive Vice President NETSOL Technologies, North America

Peter Minshall brings over three decades of international experience in the financial services
industry with an accomplished background at major blue-chip enterprises with sector
expertise in the auto finance space specifically. Peter has held various senior leadership roles
with Daimler Financial Services, most recently serving as Director of Operations for
Daimler's Africa and Asia Pacific division where he managed leasing and finance operations
for a team of 250 across 11 different markets. During that time, Peter concurrently held the
same aforementioned role for Mercedes-Benz Auto Finance Company in Beijing, China
where he launched and grew both the finance and leasing operations in China. He was also

12
previously Chief Financial Officer for Mercedes-Benz Financial Services South Africa and
has held additional management level roles at multinational corporations such as:
DaimlerChrysler Leasing, Fiat Auto Financial Services and Price Waterhouse. Operating
from the company's Calabasas, CA headquarters, Peter is currently the Executive Vice
President at NETSOL Technologies, North America.

Human Rights Policy

NETSOL’s Human Rights policy applies to every NETSOL employee and is based on the
following key principles:

 Conducting all of our business lawfully in all the communities that we serve and in a
manner that respects and promotes human rights and equality for all employees,
agency staff and suppliers wherever they are based.
 A recognition and respect of the fundamental human right to allow employees/people
to lead a dignified and independent life, free from abuse, violations and any form of
discrimination.
 A recognition that peoples’ human rights can be directly and indirectly affected by the
company’s operations, products and services, and to take steps to identify and reduce
the company’s negative impact on communities and environments wherever possible.
 A desire to act as a responsible organization in achieving a common set of standards
applying to all peoples and all nations in the commitment to continual social and
economic improvement.
 Oppose and prohibit the use of human trafficking, child labor, slavery and slave labor,
and expect the same from all of our business partners and suppliers. As a global
business, the Company is committed to compliance with the International Bill of
Human Rights and both applicable labor laws and specific human rights laws such as
the U.K.’s Modern Slavery Act.
 A commitment to seek to only enter into contractual relations with third parties who
demonstrate a desire to apply similar principles to the above through their own
frameworks and initiatives.
Supply Chain

NETSOL recognizes that the successful implementation of our Human Rights Policy is
heavily influenced by the cooperation and support of our supply chains. If suppliers or

13
contractors act in a way that is inconsistent with our Human Rights Policy and/or are
complicit in any human rights abuses, NETSOL will look to terminate their contracts and end
all commercial relations with them.

Our organization:

NetSol Technologies, Inc. (“NETSOL”) acknowledges internationally proclaimed human

rights and is fully committed to combat slavery and human trafficking. We design, develop,
market, and export proprietary software products to customers in the automobile financing
and leasing, banking, and financial services industries worldwide. We also provide system
integration, consulting, and IT products and services in exchange for fees from customers.

We have seven wholly owned and six majority owned subsidiaries worldwide including the
United Kingdom and our parent company is incorporated in the United States. NETSOL has
more than 1500 permanent employees worldwide.

The NETSOL Human Rights Policy recognizes international human rights as set out in the
Bill of Human Rights. Our Policy reflects our responsibilities around slavery and human
trafficking.

Our Policies and Due Diligence on Slavery and Human Trafficking:

We are committed to ensuring that there is no modern slavery or human trafficking in our
supply chains or in any part of our business. As a software and services company, we do not
have a manufacturing base or supply chain for tangible goods. Accordingly, we believe there
is a very low likelihood of slavery and/or human trafficking in our supply chain. However,
our company is committed to promoting and protecting human rights wherever we do
business.

We expect our suppliers and other business partners to be committed to ethical behavior, to
comply with all applicable laws and regulations, and to take action to promote the eradication
of human trafficking and slavery. We will continue to work with our suppliers and refine our
own requirements and processes to reinforce our commitment to human rights and a culture
of ethical behavior, integrity and respect.

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 Analysis

NetSol Technologies Limited

Income Statement

For the year ended June,30 2022

    2022     2021  

Net Revenues:              

License fees   $ 4,539,260    $ 6,249,924 

Subscription and support     28,284,759      22,173,745 

Services     24,423,960      26,448,171 

Services - related party     -      48,775 

Total net revenues     57,247,979      54,920,615 

               

Cost of revenues:              

Salaries and consultants     24,528,155      20,969,298 

Travel     1,036,623      663,403 

Depreciation and amortization     2,949,093      2,990,689 

Other     4,996,934      3,944,197 

Total cost of revenues     33,510,805      28,567,587 

               

Gross profit     23,737,174      26,353,028 

15
              

Operating expenses:              

Selling and marketing     7,220,022      6,555,004 

Depreciation and amortization     863,180      965,625 

General and administrative     15,390,141      15,437,382 

Research and development cost     1,342,154      674,168 

Total operating expenses     24,815,497      23,632,179 

               

Income (loss) from operations     (1,078,323)     2,720,849 

               

Other income and (expenses)              

Loss on sale of assets     (205,288)     (191,935)

Interest expense     (369,801)     (394,289)

Interest income     1,655,883      1,017,432 

Gain (loss) on foreign currency exchange transactions     4,327,590      (597,433)

Share of net loss from equity investment     (2,021,480)     (253,819)

Other income (expense)     (218,840)     987,444 

Total other income (expenses)     3,168,064      567,400 

               

Net income before income taxes     2,089,741      3,288,249 

Income tax provision     (988,938)     (1,026,617)

Net income     1,100,803      2,261,632 

Non-controlling interest     (1,951,959)     (483,375)

Net income (loss) attributable to NetSol   $ (851,156)   $ 1,778,257

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 NetSol Technologies Limited

Balance Sheet

For the year ended June,30 2022

Current assets:   2022 2021 

Cash and cash equivalents $ 20,922,948 $ 23,963,797

Accounts receivable, net of allowance of $153,580 and $166,231

7,319,856 8,669,202

Revenues in excess of billings, net of allowance of $77,525 and

13,347,524 14,571,776
$136,976

Other current assets, net of allowance of $1,243,633 and $1,243,633

2,480,415 2,223,361

Total current assets 44,070,743 49,428,136

Revenues in excess of billings, net - long term 714,458 853,601

Convertible note receivable - related party, net of allowance of

$4,250,000 and $4,250,000

Property and equipment, net 8,850,651 9,382,624

Right of use of assets - operating leases 1,336,742 969,163

Long term investment 1,059,368 1,059,368

Other assets 529 25,546

17
Intangible assets, net 1,110,617 1,587,670

Goodwill 9,302,524 9,302,524

Total assets 66,445,632 72,608,632

Current liabilities:    

Accounts payable and accrued expenses 7,029,527 6,813,541

Current portion of loans and obligations under finance leases 7,426,972 8,567,145

Current portion of operating lease obligations 531,021 548,678

Unearned revenue 3,982,198 4,901,562

Total current liabilities 18,969,718 20,830,926

Loans and obligations under finance leases; less current maturities

292,456 476,223

Operating lease obligations; less current maturities 836,891 447,260

Total liabilities 20,099,065 21,754,409

Commitments and contingencies

Stockholders’ equity:    

Preferred stock, $.01 par value; 500,000 shares authorized;

Common stock, $.01 par value; 14,500,000 shares authorized;

12,209,230 shares issued and 11,270,199 outstanding as of September

122,093 121,966
30, 2022 and 12,196,570 shares issued and 11,257,539 outstanding as

of June 30, 2022

Additional paid-in-capital 128,420,519 128,218,247

Treasury stock (at cost, 939,031 shares as of September 30, 2022 and
(3,920,856) (3,920,856)
June 30, 2022)

Accumulated deficit (40,273,167) (39,652,438)

Other comprehensive loss (42,281,135) (39,363,085)

Total NetSol stockholders’ equity 42,067,454 45,403,834

18
 Non-controlling interest 4,279,113 5,450,389

Total stockholders’ equity 46,346,567 50,854,223

Total liabilities and stockholders’ equity $ 66,445,632 $ 72,608,632

NETSOL TECHNOLOGIES, INC.

Statements of Comprehensive Income

For the Years Ended June 30,

   
   

    2022     2021

Net income (loss)   $ (851,156)   $ 1,778,257

Other comprehensive income (loss):           

Translation adjustment     (11,175,077)     2,933,964

Translation adjustment attributable to non-controlling interest     3,680,473      (717,398

Net translation adjustment     (7,494,604)     2,216,566

Comprehensive income (loss) attributable to NetSol   $ (8,345,760)   $ 3,994,823

 
Percentage Of Sales Growth Rate:

Sales growth rate = current period sales – previous period sales /Previous Period sales  100

57,247,979−54,920,615
Sales growth rate= × 100 = 4.23%
54,920,615

Percentage Of Income Growth Rate:

Income growth rate = current period income – previous period income/ previous period
income X 100

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 1,1,00,801−2,261,631
Income growth rate = ×100 = — 5.13%
2,261,631

Percentage Of Assets Growth Rate for Year (2022):

(2022) Assets growth rate = Total Assets current year – Total Assets previous year

44,070,743 – 49,428,136
Assets growth rate = = – 0.10%
49,428,136

Operating Income of The Company:

Gross Income−Operating Expense

Operating income = ×100
Operating Expense

23,737,174−24,815,497
Operating Income = ×100
24,815,497

Operating Income = — 0.04%

20
CONCLUSION

At last, it’s crystal-clear analysis which says neither a single company, nor a small number of
companies, domestic the IT market in the space in which the Company compete. A
substantial number of companies offer services that overlap and are competitive with those
offered by NetSol. Some of the these large include computer manufacture and computer
consulting firms that have greater financial resources than NetSol and, in some cases may
have greater capacity to perform services similar to those provided by NetSol.

This report is about the financial analysis of NetSol Technology limited. According to the
annual report of 2021 and 2020 given on the website of the company. Huge difference
between the sales growth of year 2020 to 2021 and also the income growth is high due to
covid-19 effect on the market. Asset growth of the year 2021 is also higher than 2020. The
company is generating optimal operating income and capable to overcome the interest
expenses. Overall financial health of the company is good.

21
Recommendation

By checking the data of NetSol Technologies limited, We recommend the company to make
more branches in all over Pakistan and worldwide and to do more services. The services
should be readily available everywhere in the country and make highly demanded
technologies which helps the economy of a country.

22
References

1: https://netsoltech.com/

2: https://www.netsolpk.com/

3: https://pk.linkedin.com/company/netsol-technologies-inc-

4: https://twitter.com/netsoltech?lang=en

5: https://en.wikipedia.org/wiki/NetSol_Technologies

6: https://www.marketscreener.com/quote/stock/NETSOL-TECHNOLOGIES-INC-
11269186/company/

7: https://www.wsj.com/market-data/quotes/pk/NETSOL

8: https://www.investorslounge.com/stock-market/company-profile/netsol

9: https://www.annualreports.com/Company/netsol-technologies-inc

10: https://simplywall.st/stocks/us/software/nasdaq-ntwk/netsol-technologies

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 Appendix

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