Geometric’s revenues cross the 1000 crore mark
Declares revenues of Rs. 10.20 Bn for FY13; a y-o-y rise of 26.3%
MUMBAI, India. April 29, 2013: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q4 and annual results for FY 2012-2013 at the board meeting held today.
Highlights for financial year ended March 31, 2013 (FY13)
- The Company’s consolidated revenues rose 26.3% to Rs. 10,203.63 Mn from Rs. 8,078.86 Mn last year
- Dollar revenues stood at USD 187.57 Mn compared to USD 167.51 Mn in previous financial year; an increase of 12%
- Operating Profits for the fiscal almost doubled from Rs. 810.28 Mn to Rs. 1,596.27 Mn in FY13
- Profit after tax (after extraordinary and prior period items) stood at Rs. 687.47 Mn, a 16.2% increase from the previous year’s profit of Rs. 591.57 Mn
- EPS of Rs. 10.95, as against Rs. 9.45 in FY12
- Recommended dividend of Rs. 1.70 on face value of Rs. 2 per share, by the Board of Directors
Highlights for the quarter ended March 31, 2013 (Q4 FY13)
- Consolidated revenues for the quarter stood at Rs. 2471.26 Mn, as against Rs. 2508.34 Mn in the last quarter and Rs. 2249.30 Mn in the same quarter last year
- Revenues for the quarter included operating revenue of USD 2.81 Mn from the acquired company, 3cap Technologies, GmbH
In USD terms, the Company recorded operating revenues of USD 45.79 Mn for the quarter ended March 31, 2013 compared to revenues of USD 46.31 Mn in the last quarter, and USD 44.92 Mn in Q4FY12. The consolidated revenues and P&L for the quarter reflect an impact of an accounting adjustment pertaining to earlier quarters of over USD 1.5 Mn. The contribution margins for the quarter were affected by the consolidation of 3cap Technologies. Thus, the Company closed the quarter with profit after tax (after extraordinary items) of Rs. 111 Mn as against profits of Rs. 190.97 Mn in the previous quarter and Rs. 127.69 in Q4FY12.
Mr. Manu Parpia, Managing Director & CEO said, “The market for engineering services and engineering IT remains positive. This year, we faced the challenge in that one of our large customers had to contend with difficult market conditions. This contributed to a setback which I believe is temporary. We are on the right track with the right strategy to support the building of a sustainable scalable enterprise.”
The company had a total employee strength of over 4600 employees as of March 31, 2013, including its subsidiaries.
Key wins and additional business highlights for Q4 FY13
The company added 3 new customers during Q4, and signed new deals worth Rs. 6.85 Mn. Some of the significant wins in this quarter include:
- Multi-year PLM customization, integration and application management contract for an energy research consortium in France
- CAD development and customization project for a leading European car manufacturer
- Product design project for value engineering for a global escalator and elevator manufacturer in Asia
- PLM application testing engagement for a Chinese Automotive OEM
- Should costing and estimations annual engagement for a leading aircraft engine manufacturer in North America
- Co-development of a new solution with a leading PLM ISV
- Enterprise-wide deployment of our DFMPro solution at a major semiconductor parts manufacturer in the US
Other important business highlights for the quarter include :
- Launched CAMWorks® 2013 with a new Synchronous Machining Module, enhanced User Interface, and additional APIs
- Introduced version 3.0 of Glovius® for Windows™, with improved CAD Importer add-ons and optimized performance
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services, Product Lifecycle Management (PLM) solutions, Embedded System solutions, and Digital Technology solutions enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Listed on the Bombay and National stock exchanges in India, the company recorded consolidated revenues of Rupees 10.20 billion (US Dollars 187.57 million) for the year ended March 2013. It employs over 4600 people across 13 global delivery locations in the US, the UK, France, Germany, Romania, India, and China. Geometric was assessed as CMMI 1.1 Level 5 for its software services and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.
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