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Rolta delivers 41.1% increase in consolidated net profit

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Announcement Technology
Last Updated : Feb 26 2013 | 12:10 AM IST
Mumbai, August 08, 2006 - Rolta India Limited, one of India's leading IT companies, specializing in GeoSpatial Information Systems (GIS), Engineering Design Automation (EDA) and eSolutions (eS), today announced audited financial results for the year ended June 30, 2006.
 
FINANCIAL HIGHLIGHTS
 
* Consolidated Revenue for the year at Rs. 5433.87 Million (USD 118.13 Million) as against Rs. 4256.87 million (USD 92.54 Million) in the previous year, registering a year-on-year (y-o-y) growth of 27.6%.
 
* Consolidated Profit After Tax for the year ended June 30, 2006 has shown a robust growth of 41.1% to Rs. 1273.17 Million (USD 27.68 Million), as against Rs. 902.16 Million (USD 19.61 Million) in the previous year.
 
* Consolidated Earnings Per Share (weighted average) for the financial year ended June 30, 2006 was Rs. 18.87 (USD 0.41), as against Rs 14.16 (USD 0.31) in the previous year.
 
*Consolidated Profit After Tax (PAT) margins improved to 23.8% in the current year, as compared to 21.8% in the previous year.
 
* Consolidated Revenue for the quarter ending June 30, 2006, registered a year-on-year (y-o-y) growth of 20.8 %, whilst the consolidated net profit for this period grew at 43.7%, over that of the previous quarter ended June 30, 2005.
 
* Consolidated cash and cash equivalents as on 30th June 2006 exceeded Rs. 1800 Million (USD 39 Million).
 
* The company has repaid all its debts and has become Debt Free.
 
* The Board of Directors have recommended a higher dividend of Rs. 4.00 (USD 0.09) per share for the year ending June 30, 2006, as against Rs. 3.50/- (USD 0.08) per share in the previous year.
 
* Consolidated net worth of the Company stood at Rs. 9414.28 Million (USD 204.66 Million) as on June 30, 2006, as against Rs 4566.26 Million (USD 99.27 Million), as on June 30, 2005.
 
* Consolidated book value per share as on June 30, 2006 was Rs.117.80 (USD 2.56), as against Rs. 71.69 (USD 1.56) in the previous year.
 
* The company successfully raised $90 Million in April 2006 through its inaugural GDR listing on the main Board of London Stock Exchange.
 
Commenting on the results, Mr. K.K. Singh, Chairman and Managing Director of Rolta India Limited said: "We have continued to grow the business across all our segments, both in India and internationally. We are now firmly established as the global GIS service provider of choice and we continued to expand our EDA and eSolutions business, winning multi-million Dollar orders, both from domestic and international markets. Rolta's exclusive partnership with Intergraph, long-standing joint venture with the Shaw Group (Stone & Webster) and our partnership with CA (formerly Computer Associates) for eSolutions has contributed to the continued growth of our company's businesses. Our order book remains strong and we believe the Group is well positioned for further growth in the current financial year.
 
We are also pleased to announce the appointment of Ms. Pulusani and Mr. Patnaik as Independent Directors. They are professionals with proven merit and outstanding track record and will add further strategic dimension at the board level."
 
OPERATIONAL HIGHLIGHTS
 
GeoSpatial information systems (GIS): Strengthening its dominant position in the domestic market the company has made significant progress by securing large orders for providing turnkey solutions to Telecom/Electric distribution companies, Public Safety & Home Land security agencies (Police), Urban Development and Town Planning departments. The company is uniquely positioned to address new opportunities from the emerging core infrastructure development projects in India. Internationally, reaffirming its standing as one of the leading providers of GIS and Photogrammetry services, the company has executed large projects for 3D city modeling using high end Photogrammetry technology and created digital networks for telecom, electric, gas & water companies, worldwide.
 
Engineering Design Automation (EDA): The company has enhanced its leadership position in India and secured large contracts for providing engineering design automation solutions and design services to major EPCs and Owner operators. Internationally, the company executed large contracts in plant Information management for customers in USA, Europe and the Middle East. The company has also ventured into providing specialised services in the area of ship design.
 
The joint venture company Stone & Webster Rolta Limited (SWRL), has achieved a very healthy growth during the year. Besides providing engineering design services for S&W projects globally, the JV has also executed engineering, design, procurement and construction management projects for large refineries and petrochemical companies in India. Stone & Webster being one of the leaders in Nuclear energy technology, the company through its JV is well placed to participate in this high -growth opportunity.
 
eSolutions (eS): During the year the company achieved exponential growth in the eSolutions business group, in partnership with CA for eSecurity and network management, for their global customers. The company also offers services in high-end gaming, serious animation, rapid application development, software testing and RFID solutions.
 
Further strengthening the quality of its offerings, the company has added the BS ISO/IEC 27001 certification; only five Indian companies have received this accreditation so far. The company is currently certified at CMM level 5 and is at an advanced stage for CMMi certification.
 
In April 2006, the company made a successful debut on the London Stock Exchange as one of the very few Indian companies to list on the exchange's main market and this has helped it to widen its investor base and participate in International regulatory best practices e.g. the company will publish its financial as per International Financial Reporting Standards (IFRS), audited by Grant Thornton in its annual report.
 
During the year the company added over 800 professionals and now has a strength of almost 3000 professionals. Continuing its expansion program, the company is at an advanced stage of setting up two new subsidiaries in the Middle East and one in Australia.
 
COMPANY OVERVIEW: Rolta is an Indian Multinational organization, listed on the National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) in India and its GDR's are listed on the main board of London Stock Exchange (LSE). It is headquartered at Mumbai, with worldwide operations, and has executed projects in 35 countries.
 
Rolta is India's leading provider and developer of Digital Map based GeoSpatial Information Systems (GIS) and Engineering Design Automation Solutions and one of the major providers of such services worldwide.
 
In partnership with Stone & Webster, the Company has also established a Joint Venture, to provide Engineering, Procurement & Construction Management (EPCM) services to meet end-to-end project requirements of Power, Oil, Gas and Petrochemical sectors. In the area of eSolutions, Rolta provides consulting, application development, testing, network and eSecurity services, to worldwide customers.
 
The company's Quality standards are benchmarked in-line with the worlds best, with top certifications like CMM L5, BS 15000 and BS ISO-IEC 27001. The annual IDC-DQ survey has consistently ranked the Company as one of the best employers in the IT industry, in India. Recognized for its excellence, the Company has been ranked, three years in a row, by Forbes Global, amongst the world's 200 Best Companies (sales up to US $ 1 Billion).

 
 

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First Published: Aug 09 2006 | 12:00 AM IST

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