Geometric posts record profits
Highlights for the quarter ended December 31, 2015 (Q3 FY16)
· Highest-ever EPS of Rs. 4.48
· Consolidated Profit after Tax of INR 289.43 Mn as against INR 230.24 Mn in the last quarter, and INR 163.68 Mn in the corresponding quarter last year, a growth of 25.7% q-o-q and 76.8% y-o-y
· EBITDA margins for Geometric (excluding the joint venture) improved to 15%
· Added two new customers
· Signed new deals worth USD 15.16 Mn
The Company declared operating revenues of INR 3,148.46 Mn for the quarter, compared to revenues of INR 3,083.52 Mn in Q2FY16 and INR 2,888.89 Mn in Q3FY15, a rise of 2.1% and 9% respectively. In USD terms, revenues rose 0.5% q-o-q and 2.3% y-o-y to USD 47.68 Mn. The Company’s consolidated EBITDA stood at INR 632.09 Mn as against INR 534.86 Mn in the previous quarter and INR 421.54 Mn in Q3FY15, a growth of 18.2% q-o-q and 49.9% y-o-y. Geometric’s revenues excluding its joint venture, grew to USD 35.24 Mn, when compared to USD 34.55 Mn in Q2FY16 and USD 34.77 Mn, a rise of 2% and 1.4% respectively.
Mr. Manu Parpia, Managing Director & CEO said, “We continue to make progress in our endeavor to improve margins. Our emphasis now is on sustaining these margins, while focusing on growth through deeper penetration in our existing base, while selectively adding new logos.”
The company had a total employee strength of over 4700 employees as of December 31, 2015, including its subsidiaries.
Key wins and additional business highlights for Q3 FY16
The Company signed new deals worth USD 15.16 Mn. Some of the significant wins in this quarter include:
• Won a large PLM services project with a leading European Automotive OEM
• Entered into a large consulting engagement for a leading automotive component manufacturer
• Awarded an Engineering services project with a leading Aerospace player
• Signed a PLM services contract with a leading Asian Automotive OEM
• Won a services project with a leading Automotive player in North America
• Engaged with a leading Aerospace player for a PLM services contract
• Won a products led project with a leading Industrial systems player in Europe
Other important business highlights for the quarter include:
• Launched CAMWorks® 2016, the latest version of our flagship CAM solution
• Entered a partnership with Ganesh Machinery, a leading CNC machine manufacturer, to provide a cost-effective turnkey 5-axis machining solution
• Created the office of a Chief Technology Officer, led by industry veteran Louis Pascarella to define the Company’s technology direction and build new-age solutions
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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