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For immediate release
Geometric declares revenues of Rs. 1,726.89 Mn; a rise of 27.5% Y-o-Y
MUMBAI, India, July 25, 2011: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC), announced its Q1 financial results for FY 2011-2012 at the board meeting held today.
Highlights for the quarter ended June 30, 2011
• Consolidated revenues rise to Rs. 1,726.89 Mn, up 1.6% from Rs. 1,700.30 Mn in Q4FY11, and up 27.5% from Rs. 1,354.50 Mn in Q1FY11
• PAT (after extraordinary items) at Rs. 117.41 Mn, a rise of 10.9% from Q1FY11
• Profit before tax (PBT) of the company also rose to Rs. 176.95 Mn, a 29.5% increase from Q1FY11
• Added five new customers, and new business worth USD 9.38 Mn
• An EPS of Rs. 1.88 for the quarter
The company recorded operating revenues of USD 38.59 Mn for the quarter ended June 30, 2011, a rise of 2% and 30.4% compared to revenues of USD 37.84 Mn in last quarter, and USD 29.59 Mn in the same quarter last year, respectively. The company’s operating profits almost doubled to Rs. 99.76 Mn, when compared with previous year’s profits of Rs. 55.02 Mn in the same quarter.
On declaring the results, Mr. Manu Parpia, Managing Director & CEO said, “As communicated last time, we had an expected flat quarter due to delay in commencing projects. In addition, the first quarter margins were also impacted by annual wage increases. Despite this, we have been able to improve our operating margins when compared to last year. Actions have also been put in place to improve our utilization and offshore-onsite mix to increase profitability that will bear results in the coming quarters.”
The company, including its subsidiaries had 3969 employees at the end of the quarter.
Key wins and additional business highlights for Q1 FY12
The company added five new customers during Q1; and new revenues of USD 9.38 Mn.
Some of the significant wins in this quarter are:
• A multi-million dollar engagement with a leading off highway equipment manufacturer in the US for providing manufacturing engineering services as a part of the customer’s long term strategic roadmap
• Oracle Agile customization and integration project with SAP for a leading electronics manufacturing services provider in APAC
• A co-development project for the CAPA (Corrective Action Preventive Action) module of Quality Management solution with a leading PLM ISV
• A new engagement with US based manufacturer of dental (medical) devices for development of an intraoral scanner software system
• An engineering design support engagement in China for a leading manufacturer of earth moving equipment
• Extension of services for technical documentation of manufacturing instructions for a leading solar equipment manufacturer
Other important business highlights for the quarter include:
• Completion of the formalities for the merger of DELMIA Solutions Pvt. Ltd. with our joint venture company, 3D PLM Software Solutions Limited effective July 1, 2011
• Partnership with Metamation, Inc., a leader in providing CAD/CAM nesting solutions for sheet metal Industry, for supporting CAMWorks®
• Release of DFMPro version 3.0 for Creo Elements/Pro and NestLib 2011 R2
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 6.21 billion (US Dollars 136.47 million) for the year ended March 2011. It employs over 3900 people across 10 global delivery locations in the US, 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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