Geometric declares revenues of INR 11.05 Bn for FY15

MUMBAI, India - April 27, 2015 - PRLog -- MUMBAI, India. April 27, 2015: Geometric (http://www.geometricglobal.com/) Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q4 and annual results for FY 2014-2015 at the board meeting held today.

Highlights for financial year ended March 31, 2015 (FY15)

·         The Company’s consolidated revenues rose 0.9% to INR 11,053.01 Mn from INR 10,954.52 Mn last year

·         Dollar revenues stood at USD 180.61 Mn compared to USD 181.39 Mn in previous financial year

·         The Profit after Tax for the year stood at INR 551.63 Mn as against INR 462.43 Mn for FY14

·         EPS of INR 8.62 for the year as against INR 7.31 in FY14, an 18% YoY Increase

·         Recommended dividend of INR 2.50 on face value of INR 2 per share, by the Board of Directors

Highlights for the quarter ended March 31, 2015 (Q4 FY15)

·         The Company recorded operating revenues of INR 2,679.00 Mn, as against revenues of INR     2,888.89 Mn in the previous quarter, and INR 2,733.62 Mn in the corresponding quarter last year

·         Revenue of Geometric (excluding its joint venture company, 3DPLM), was at  INR 1,965.63 Mn, as against INR 2,154.22 Mn in Q3FY14 and INR 2,001.03 Mn in Q4FY13

·         Signed new deals worth USD 9.40 Mn

In USD terms, the Company declared operating revenues of USD 42.92 Mn for the quarter ended March 31, 2015 compared to revenues of USD 46.60 Mn in the last quarter, and USD 44.29 Mn in Q4FY14. Decline in revenues from Q3’15 to Q4’15 is attributable mainly to sharp decline in Euro & reversal of  revenues on account of issues arising from ERP switch over as well as other factors including delays in projects starting. In addition, the Aerospace unit also saw a dip in QoQ revenues since the unit had a significant one time software license revenue in Q3’15.

The Company closed the quarter with profit after tax (after extraordinary items) of INR 32.92 Mn as against profits of INR 163.75 Mn in the previous quarter and INR 67.35 in the same quarter last year. The EPS for the quarter stood at INR 0.51. The profits were impacted by both fall in revenue and unusual items in G&A expenses.

Mr. Manu Parpia, Managing Director & CEO said, “The quarter does represent a set back in our progress.  Nonetheless we believe we will return to revenue growth on the back of our wins and our pipeline. We will also start seeing the impact of revenues from commencement of 3DGS operations.”

The company had total employee strength of over 4800 employees as of March 31, 2015, including its subsidiaries.

Key wins and additional business highlights for Q4 FY15

The company signed new deals worth USD 9.40 Mn. Some of the significant wins in this quarter include:

·       Software product development deal with one of the leaders in the PLM Vendor space An Engineering services contract with a leading Automotive OEM

·       PLM implementation project for a leading Automotive OEM

·       An Engineering services project with a leading Automotive player

·       PLM services contract with a leading European Automotive OEM

·       An Application management services contract with a leading Oil & Gas player

Other important business highlights for the quarter include:

Formation of 3DGS, a wholly owned subsidiary of 3DPLM, which is charged with supporting the Dassault Systemes ecosystem by providing high quality services around DS technologies. The Geometric group will be one of its customers. This will enable Geometric to accelerate its own efforts towards its strategy to be Consulting Partner and System Integrator and will strengthen Geometric positioning in the market as a strategic partner for DS.

About Geometric

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 11.05 billion (US Dollars 180.61 million) for the year ended March 2015. It employs over 4800 people across 13 global delivery locations in the US, France, Germany, Romania, India, and China. Geometric has been assessed at Maturity Level 3 for CMMI 1.3- Development and CMMI 1.3-Services for its Software and Engineering Services business units and is ISO 9001:2008 certified for engineering operations. The company’s operations are also ISO 27001:2005 certified.

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