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CALSOFT DECLARES ANNUAL RESULTS FY 2006-07

  • Consolidated Revenue at Rs.169crores-Revenue Growth of 46%.
  • Net Profits up by 69 %.
  • Recommends 7.5 % dividend on enhanced capital.

Chennai: 11th June 2007: California Software Company Limited (Calsoft), a global IT solutions company, today announced that its Board of Directors had taken on record and approved the audited financial results for the financial year 2006-07.

Highlights - Consolidated financial results for the year ended Mar 31, 2007

Total Revenue was Rs16894.49 for the year; Year on Year (YOY) growth of 46 % (Previous year was Rs 11568.50 lakhs)

Operating profit (Profits Before depreciation, interest, amortisation & taxes) was Rs 1740.20 lakhs; YOY growth of 78% (Operating profit previous year was Rs 980.09 lakhs)

Profit after tax was Rs796.77 lakhs for the year with an YOY growth of 69% (PAT previous year was Rs 470.45 lakhs)

Consolidated Earnings per share-EPS (basic) increased to Rs10.29 - an improvement of 7% over last year (previous year EPS - basic Rs. 9.58)

The Board of Directors recommended a final total dividend of 7.5% (Rs 0.75 per equity share) - payable subject to approval of shareholders at the ensuing AGM.This will be payable on enhanced share capital base of 904.65 lakh shares (increased from 492.11 lakh shares last year end).

Major Business Highlights –Consolidated for the year 2006-07

  • Client Acquisition: Strong emphasis on organic growth as well and client acquisition resulted in the addition of business from clients in all segments.
  • The revenues split up (consolidated) was as follows:
    • Segment- wise
      • Enterprise Solutions - 63 %
      • Technology solutions-30%
      • Commodity solutions -7 %
    • Geography:
      • Americas - 80%
      • Europe - 11%
      • Asia-Pacific Region including India - 9%
  • Majority stake acquired by the group in
    • Codex Co. Ltd, Tokyo: -a leading technology solutions provider to commodity trading companies in Japan.
    • Inatech Infosolutions Pvt Ltd, Bangalore, India and its wholly owned UK subsidiary Inatech Solutions Ltd. Inatech is a specialized Oracle solutions provider.
  • Last year also saw Calsoft group divesting majority equity interest in American HealthNet Inc. (AHN) Omaha, USA wef 1st Jan 2007
  • During the year 2006-07, there was a net addition of 101employees into the group and there were 838 employees on rolls as on the year-end for the group.

Current Year Prospects and Outlook (2007-08)

The company is not in the practice of issuing any guidance, but believes that the outlook for 2007-08 looks promising. The company proposes to continue its growth plans on a combination of organic growth coupled with synergistic acquisition strategy of products & service companies in related domains that will bring in overall value to the company as well as its offerings to the customers.

Mr. S. (Sam) Santhosh, Managing Director Calsoft said “Compared to the previous year, Calsoft has delivered better results in FY 2006-07 both in terms of revenue as well as profits. We have laid the foundation for sustained growth through strategic acquisitions and internal realignment. We were able to increase our market presence in UK, Middle East and Far East Asia. 2007-08 will be a year of consolidation and we aim to improve our profitability and strengthen customer relationships.”

ANNEXURE -1 Highlights of Financial Results–2006-07–Full year-Consolidated and Standalone

Consolidated Group (Including all Subsidiaries) 2006-07 Current Year 2005-06 Last Year Increase YoY for full year
  Rs lakhs Rs lakhs %
Total Revenues 16894.49 11543.95 46%
Operating Profits 1740.20 980.09 78%
Net Profits before tax 898.13 489.93 83%
Net Profits after Taxes & Deferred taxes 796.77 470.45 69%
  Rs Rs  
EPS(Rs) 10.29 9.58 7%
STAND ALONE COMPANY (without subsidiaries) 2006-07 Current Year 2005-06 Last Year Increase YoY for full year
2006-07 Current Year Rs lakhs Rs lakhs %
Total Revenues 4983.60 3772.40 32%
Operating Profits 799.55 815.01 (2%)%
Profits before tax 601.60 677.32 (11%)
Net Profits after Tax& deferred taxes 595.09 662.87 (10%)
Rs Rs
EPS(Rs) 7.69 13.49 (43%)
Dividend % 7.5% * 10% (2.5%)

* Proposed dividend for 2006-07 payable on enhanced capital -subject to approval at ensuing AGM

Note: Figures in brackets in % column indicate reduction.

About Calsoft

California Software Company Ltd (Calsoft) is a public limited company in India with a global presence. Its development practices are certified at CMMi Level 5. Founded in 1992, Calsoft group including subsidiaries currently employs over 850 employees. The group has development centers in Chennai and Bangalore at India and Pleasanton, (California), Boston and Omaha at USA. Calsoft group has marketing offices in the US, UK, Singapore, Japan, Hong Kong, Taiwan, Shanghai, Copenhagen, Dubai and India. Calsoft is listed in India at NSE (cali.ns) and BSE (cali.bo). For more information on Calsoft visit www.calsoftgroup.com

For further details,

N Anita
Manager - Corporate Communications
Ph: +91 44 4282 9000
anitan@calsoftgroup.com

   

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