KLG Systel turnover up by 135.71% to Rs 12113.16 lacs

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KLG Systel turnover up by 135.71% to Rs 12113.16 lacs

KLG Systel turnover shoots up by 135.71% to Rs. 12,113.16 lacs

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  KLG Systel a leading software development / services company providing 'Organization Life Cycle Solutions'  to the Indian industry registered an increase in net income by 135.71% and touched a high of Rs. 12,113.61 lacs from corresponding previous year's Rs. 5,130.61 lacs. The company reported EBIDTA of Rs. 3692.63 lacs as against Rs. 1,203.11  lacs recording an increase of 206.92% from last year The company reported a robust profit before tax, which also increased by Rs. 2,244.71 lacs (290.91%) from Rs. 771.62 lacs to Rs. 3016.33 lacs during the year ended March 31,2007. The profit after tax increased by Rs. 1674.41 lacs (321.75 %) from Rs. 520.42 lacs to Rs. 2,194.82 lacs in the corresponding previous year.

The earning per share (EPS) went up to Rs. 22.93 from Rs. 6.66 during the year ended March 31, 2007, whereas the cash earning per share went up to Rs. 30.37 from Rs. 6.66 during the year ended March 31, 2007.

The turnover of Life Cycle Solution software and Power System Solutions segment for year ended March 31, 2007 is Rs. 5868.66 lacs (Previous year Rs. 3995.59 lacs) and Rs. 6244.50 lacs (Rs. 1135.02 lacs ) respectively. The Company expects that growth in Life Cycle Solutions segment shall be as per past performance.

Talking about the performance of the company during the year, Mr. Kumud Goel, Managing Director, KLG Systel reiterated "This year, KLG Systel has accelerated it's growth trajectory by reporting almost a 135.71% rise in the net income, 290.91% in PBT and 321.75% in PAT. Our strategy continues to focus on creating solutions for the domestic infrastructure sector driven by our innovation-led insight. Going ahead we see our R&D and IP focus propelling us into a new orbit."

Talking about the performance of the company during the year ended March 31, 2007, Mr. Kumud Goel, Managing Director, KLG Systel said, "KLG Systel has maintained the growth curve by reporting a healthy rise in net income and profit for the year.  The Company is regularly paying dividend to its shareholders and this year also Board has declared an interim dividend @ 25% which would result in an outflow of Rs. 307.38 lacs. This will result in increased wealth to the shareholders of the Company. The Company has made an addition of Rs. more than 40 crore in fixed assets (including CWIP). Addition is made largely out of internal accruals, promoters' contribution and long term debts. The Company has incurred an expenditure of Rs. 126.875 lacs on Research and development as compared to 103.75 lacs last year showing an increase of 25%.  Depreciation on fixed assets has increased from 391.24 lacs to 575.12 lacs. Increase in depreciation is largely due to fixed assets used in research and development of technology. The Company has completed construction of Research and development facility at EHTP Gurgaon. The company has applied for patent covering various modules of SG 61 technology. The company will continue to focus on developing innovative solutions for the Indian market, especially in the power sector, with technologies like energy portal and SG61^TM."

Sourced From: Hanmer & Partners Communications Pvt. Ltd