Chennai-based Rs 430 crore Numeric Power Systems Limited (NPSL) is looking at achieving 10 per cent growth in the fiscal year 2008-09 with an approximate turnover of Rs 475 crore despite the slump and low sales in the IT/ITeS and manufacturing sector.
With nine manufacturing facilities globally, the company achieved a turnover of Rs 430 crore last fiscal.
"We aim for growth, but cannot quantify at this point of time since we are listed. We hope to achieve a 10 per cent growth this fiscal over last year. Although there has been a drop in sales specifically in the IT and ITeS and manufacturing segments in the last three quarters, we managed in the last quarter of FY 2008-09 and hope to post a decent profit margin for FY2008-09," said R Chellappan, managing director, NPSL in a press conference in Kolkata today.
The company has four major segments of business, of which BFSI (Banking, finance and insurance) contributes 30-35 per cent of the topline business followed by corporates and e-governance or State Wide Area Network (SWAN) projects which contribute 25 per cent and SME and education, IT , healthcare and hospitality which contribute together 40 per cent.
"The fact that the banking and insurance sector is one of the strongest sector is evident from the fact that NPSL enjoys more than 75 per cent of ATM installations across the country. Of the 32,000 ATMs, almost 26,000 ATMs are powered by NPSL. We have more such projects with major banks this fiscal," he pointed out. "Our revenue pattern is such that all segments contribute equal amount, but going forth we will pin a lot of hope in education programmes, banking and insurance sectors. These three verticals are very strong," he further added. NPSL has set aside an investment budget of Rs 25 crore for its future expansion plan.