FY07 | FY08E | FY09E | | Revenue | 885.90 | 920.00 | 1060.00 |
| Operating profit | 180.30 | 180.00 | 212.00 |
| OPM (%) | 20.00 | 19.50 | 20.00 |
| Net profit | 133.00 | 137.00 | 170.00 |
| NPM (%) | 15.00 | 15.00 | 16.10 |
| EPS (Rs) | 29.60 | 18.30 | 21.30 |
| P/E (x) | 7.50 | 12.13 | 10.40 |
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| It, therefore, becomes imperative to find companies which have a lesser dependence on the US, and a lower proportion of dollar denominated revenues or more work carried out onsite. |
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| NIIT Technologies, the software arm that was created when NIIT separated its IT education and software services business, fits the bill. Just over a third of its revenues come from the US, and more than 60 per cent of the work is done onsite, which provides it a natural hedge against the falling dollar. |
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| The company provides software application development services, enterprise solutions as well as business process outsourcing services to its clients. |
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| It has also diversified its business across a number of industry verticals and has achieved a well balanced geographic spread, which provides stability over the long term. It has been investing in its software services and outsourcing businesses, and is at an inflection point poised to grow significantly hereon. |
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Sound mix
NIIT Technologies
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