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Geometric's revenues grow 11.6% in FY16
MUMBAI, India. May 06, 2016: Geometric (http://www.geometricglobal.com/)
Highlights for the financial year ended March 31, 2016 (FY16)
· Revenues in USD terms grew 4.4% to USD 188.49 Mn in FY16 from USD 180.61 Mn in FY15
· In INR, revenues stood at INR 12,334.57 Mn as against INR 11,053.01 Mn, a growth of 11.6%
· Revenues for Geometric (excluding the joint venture company) showed a 3.9% growth to USD 138.22 Mn from USD 132.98 Mn in the previous year
· Consolidated Profit after Tax almost doubled to INR 1,053.47 Mn from INR 551.63 Mn
· The Board recommended that the interim dividend Rs. 3 per equity share of Rs. 2 each paid during financial year ended March 31, 2016 be confirmed as the final dividend for the FY 2015-16 at the 22nd Annual General Meeting
· Added 3 new customers during the year
Highlights for the quarter ended March 31, 2016 (Q4 FY16)
· Consolidated Profit after Tax of the Company stood at INR 342.54 Mn as against INR 289.43 Mn in the previous quarter and INR 32.92 in the corresponding quarter last year; a growth of 18.4% and ~9x (940.7%) respectively
· Continued focus on margin improvement led to EBITDA margins of 16.2% for Geometric (excluding the joint venture)
· Signed new deals worth USD 14.52 Mn
· Record high EPS of Rs. 5.27
The Company declared operating revenues of USD 46.55 Mn for the quarter, compared to revenues of USD 47.68 Mn in Q3FY16 and USD 42.92 Mn in Q4FY15. In INR terms, revenues stood at INR 3,127.04 Mn in comparison to INR 3,148.46 Mn in the previous quarter and INR 2,679.00 Mn in the corresponding quarter last year. Geometric's revenues excluding its joint venture company were at USD 34.44 Mn as against USD 35.24 Mn in Q3 FY16 and USD 31.45 Mn in Q4FY15.
Mr. Manu Parpia, Managing Director & CEO said, "FY16 has been a landmark year for us. Our concerted efforts led to a transformation of our business reflected in improved margins. We are now at a level comparable with our peers and can look to investing in creating solutions, which can drive further growth."
The company had a total employee strength of over 4700 employees as of March 31, 2016, including its subsidiaries.
Key wins and additional business highlights for Q4 FY16
The Company signed new deals worth USD 14.52 Mn. Some of the significant wins in this quarter include:
• Entered a software development deal with a leading PLM ISV
• Won a PLM project with a leading Automotive player in North America
• Awarded a PLM services project with a leading European Automotive OEM
• Signed a software services engagement with a leading orthodontics equipment manufacturer
• Won an Applications Management Services contract from a leading European Automotive OEM
• Awarded a PLM services project from a leading Asian Transportation Systems Manufacturer
Other important business highlights for the quarter include:
• Launched NestingWorks™
• Enhanced CAMWorks® 2016 with 'machine to the mean' capabilities and support for SolidWorks MBD
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 12.33 billion (US Dollars 188.49 million) for the year ended March 2016. It employs over 4700 people across 14 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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