Geometric revenues rise 30.2% for FY12

Top Quote Geometric declares consolidated revenues of Rs. 8,078.86 Mn for the year, as against Rs. 6,206.12 Mn last year, a rise of 30.2%. End Quote
  • (1888PressRelease) April 24, 2012 - Geometric revenues rise 30.2% for FY12
    Consolidated revenues for the quarter rise 32.3% y-o-y to Rs. 2,249.30 Mn

    April 23, 2012: Geometric Ltd. (BSE: 532312, NSE: GEOMETRIC) announced its Q4 and annual results for FY 2011-2012 at the board meeting held today.

    Highlights for financial year ended March 31, 2012 (FY12)

    • The company declares consolidated revenues of Rs. 8,078.86 Mn for the year, as against Rs. 6,206.12 Mn last year, a rise of 30.2%
    • USD revenues rise 22.7% to USD 167.51 Mn from the previous year revenues of USD 136.48 Mn
    • Operating Profits for the fiscal increase significantly from Rs. 482.07 Mn to Rs. 810.28 Mn, a growth of 68.1%
    • The company's PAT was flattish at Rs. 591.57 Mn, compared to Rs. 575.20 Mn in FY11, due to the impact of one-time extraordinary expenses
    • EPS of Rs 9.45, as against Rs.9.24 in FY11
    • Added new revenues of USD 32.79 Mn
    • Recommended dividend of 80% on face value of Rs. 2 per share, by the Board of Directors

    Highlights for the quarter ended March 31, 2012 (Q4 FY12)

    The company recorded operating revenues of Rs. 2,249.30 Mn for the quarter ended March 31, 2012, an increase of 2.7% and 32.3% compared to revenues of Rs 2,190.37 Mn in last quarter, and Rs. 1,700.30 Mn in the same quarter last year, respectively. In US dollar terms as well, consolidated revenues rose 5.4% from Q3FY12 and 18.7% from Q4FY11 to USD 44.92 Mn.

    The margins of the company in the quarter were affected due to an additional provision for doubtful debts for prior period items and an unforeseen for tax liability for our American subsidiary, as declared earlier this month. As a result the net profit of the company stood at Rs. 127.69 Mn as against profits of Rs. 212.57 Mn in Q3FY12 and Rs. 178.43 Mn in Q4FY11.

    On declaring the results, Mr. Manu Parpia, Managing Director & CEO said, "We have seen a healthy top-line growth this year, in fact higher than our guidance. This year we came under the full tax regime, despite which, we have improved our EPS for the year. We have seen volume growth from emerging verticals, and I see this area as a significant opportunity we can tap into over the coming years. We also continue to see healthy demand for our offerings".

    The company had a total employee strength of over 4500 employees as of March 31, 2012, including its subsidiaries.

    Key wins and additional business highlights for Q4 FY12

    The company added 4 new customers during Q4, and 24 new customers during the year; taking the total number of active customers to 109. Some of the significant wins in this quarter include:
    • A multi-million dollar deal to develop a next generation design and analysis application for a ship classification services company in North America
    • Added a leading Asian automotive OEM to our customer list through plant digitization and ENOVIA upgrade solutions
    • Plant simulation project for a global energy company in APAC
    • Won a project for handling engineering data from the enterprise Teamcenter PLM system with a leading European auto maker
    • Should costing engagement for a leading off-highway company in India
    • An application support engagement with world's leading earthmoving equipment company for managing their process planning applications
    • An off-shore finite element analysis (FEA) engagement for a global mining equipment manufacturer
    • Application management and support for a European auto OEM for their PLM landscape
    • KBE and automation project with a Aerospace Tier 1 supplier in North America
    • CAD enhancement project for a European fashion house
    • Reinforced our Windchill footprint through a Windchill implementation and PLM migration program for a leading aerospace Tier 1 supplier

    Other important business highlights for the quarter include:

    • Launch of our new customizable, multi-platform 3D visualization tool, Glovius®, which runs on Windows® and is available as an app for iPad®/iPhone® and Android™ systems
    • Establishment of our twelfth delivery center in Toulouse, France
    • Strategic partnership with PROSTEP AG, a leading solution provider for PLM integration, product data exchange and migration, to provide first line of technical support to PROSTEP's customers using the company's OpenDXM suite of products in the Asia Pacific region

    About Geometric

    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 8.08 billion (US Dollars 167.51 million) for the year ended March 2012. It employs over 4500 people across 12 global delivery locations in the US, France, 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.

    The copyright/ trademarks of all products referenced herein are held by their respective companies.

    For more information, please contact:
    Geometric Limited
    Regd. office: Plant 6, Pirojshanagar
    Vikhroli (West), Mumbai 400 079, India

    Kavita Karnani
    kavita.karnani ( @ ) geometricglobal dot com
    Tel + 91.22.67056500
    Fax + 91.22.67056891

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