Q-o-Q revenues rise 16%, profits rise 61.8%
MUMBAI, India, July 23, 2012: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q1 financial results for FY 2012-2013 at the board meeting held today.
Highlights for the quarter ended June 30, 2012 (Q1 FY13)
- The USD revenues of the company rose to USD 47.8 Mn, an increase of 6.4% from Q4FY12 revenues of USD 44.92 Mn and of 23.9% from Q1FY12 revenues of USD 38.59 Mn
- In Rupee terms, the company’s consolidated revenues increased 16% and 51 % from Q4FY12 revenues of Rs. 2249.30 and Q1FY12 revenues of Rs. 1726.89 Mn respectively to Rs. 2608.07 Mn this quarter, due to the favorable movement of the Rupee
- The company’s operating profits more than doubled to Rs. 444.18 Mn from Rs. 199.25 last quarter, and were more than four times the Q1FY12 profits of Rs. 99.76 Mn
- PAT stood at Rs. 206.60 Mn as against Rs. 127.69 Mn in the previous quarter and Rs. 117.41 Mn in the same quarter last year, a rise of 61.80% q-o-q and 76% y-o-y
- Improvements in contribution margin (in constant currency terms) from 32.7% in Q4FY12 to 36% in the current quarter
- Management consulting fees of over Rs. 85 Mn were also accounted for this quarter, and the final installment of these fees will be paid in Q2FY13
- Positive impact due to subsidiary revaluation caused by exchange rate volatility was approximately Rs. 95 Mn
- Signed new deals worth USD 10.34 Mn
- EPS of Rs 3.3, as against Rs.2.04 in Q4FY12
Mr. Manu Parpia, Managing Director & CEO, Geometric Limited said, “We continue to see reasonable demand for our services and solutions, in spite of uncertain economic conditions. I believe our efforts over the last 12 months have had a positive impact on our Contribution Margin. We were able to improve these despite salary raises in line with the market in our Indian operations.”
The company had a total employee strength of over 4600 employees as of June 30, 2012, including its subsidiaries.
Key wins and additional business highlights for Q1 FY13
The company added 6 new customers during Q1, and signed some significant deals this quarter including:
- Should costing services engagement with the construction equipment division of European off-highway OEM
- Design engineering services to a global leader in air filtration systems Digital Manufacturing project with an industrial robotics major to support BIW cells for leading automotive OEMs in USA and South America
- Expansion of an engagement with an American agricultural equipment company to support their product engineering needs in Germany
- PLM application migration and upgrade project with a Swedish manufacturer of industrial equipment
- PLM application management services for an Indian automotive major Application maintenance and support project with an oil and gas technology equipment manufacturing and services company
- Multiple product development and services engagements with a leading PLM ISV
- PLM implementation project for an electrical systems and services provider for the transport industry in North America
Other important business highlights for the quarter include :
- Strategic alliance with DIPRO, a leading provider of solution and services for CAD/CAM/CAE and BOM/PDM, to jointly tap the Japanese market and create an offshore COE
- Partner with Anark Corp. to launch a new 3D Model Based Enterprise (MBE) authoring and viewing solution, Anark Core™ MBEWeb™
- Established a new delivery facility in an SEZ in Pune
- Formed a consulting group to bring in a solution-based approach in all customer engagements and suggest unique architectures and solutions to meet customer objectives
- Launched a new Nesting module for its leading CAM software, CAMWorks®
- Released DFMPro® version 3.2 for PTC® Creo® design software with configurable assembly checks for clearance and interference
Geometric is a specialist in the domain of engineering solutions, services and technologies. Its portfolio of Global Engineering services and Digital Technology solutions for Product Lifecycle Management (PLM) enables companies to formulate, implement, and execute global engineering and manufacturing strategies aimed at achieving greater efficiencies in the product realization lifecycle.
Headquartered in Mumbai, India, Geometric was incorporated in 1994 and is listed on the Bombay and National Stock Exchanges. The company recorded consolidated revenues of Rupees 8.08 billion (US Dollars 167.51 million) for the year ended March 2012. It employs over 4500 people across 12 global delivery locations in the US, France, 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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