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Jun 07, 2006, 11.49 AM IST
Calsoft announces annual results FY2005-06. Consolidated Revenue at Rs. 115 cr -Growth of 136%, Net Profits up by 40 %, Recommends 10 % dividend on enhanced capital
California Software Company Limited (Calsoft) today announced that its Board of Directors had taken on record and approved the audited financial results for the financial year 2005-06.
Highlights-Consolidated financial results for the year ended Mar 31, 2006
The Board of Directors recommended a final dividend of 10 % (Rs 1 per equity share) -payable subject to approval at the ensuing AGM proposed in August 2005. This will be payable on the Equity Capital base, which will enhance by 70%, post June 2006 after the rights shares are issued &listed. (The company had recently made a rights issue of 34.45 lakh equity shares at Rs 66 per share in the ratio of 7:10 which closed on 25th May 2006 and was fully subscribed).
SEE ANNEXURE -1 for financial highlights – consolidated & standalone
Major Business Highlights –Consolidated for the year 2005-06
· 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:
o Segment- wise
o Enterprise Solutions - 61 % Technology solutions-28 % Commodity solutions -11 %
o Geography: Americas: 84% Europe -5% Asia-Pacific Region including India -11%
· Alliances during the year were signed with Major technology giants l-Phoenix Technologies Ltd (NASDAQ listed co) for distribution &support for BIOS &Firmware products ii-Adobe Corporation-for the Macromedia range of Software for embedded &handheld devices
· During the year 2005-06, there was a net addition of 201 employees into the group and there were 737 employees on rolls as on the year-end for the group.
Current Year Prospects and Outlook (2006-07)
The company is not in the practice of issuing any guidance, but believes that the outlook for 2006-07 will be robust. The company proposes to continue its growth plans on a combination of organic growth coupled with prudent and focused acquisition strategy of Products &service companies in related domains that will bring synergies in its customer offerings and more overall value.
Mr. S. (Sam) Santhosh, Managing Director Calsoft said “FY 2005-06 was a very good year for us in terms of revenue growth .We grew with the acquisitions we made in the last 2 years and focused increasingly on product based software solutions. In FY 2006-07, we aim to maintain the momentum in revenue growth while focusing more on profits.”
Sourced From : Perfect Relations Limited
Tags: California Software Company Limited , EPS, Equity Capital base, l-Phoenix Technologies Ltd , BIOS, S. (Sam) Santhosh
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