Mascon Global Limited grows revenue by 58%

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Mascon Global Limited (MGL), a leading IP-led, domain centric technology solutions provider, today announced its results for the fourth quarter and fiscal year 2007-2008. Revenue for the year grew by 58%, while profits were 76% higher than FY06-07. 

 

HIGHLIGHTS

Fiscal Year 2007-2008

• Revenue : Rs. 8920 mm; a growth of 58% over FY 2006-2007
• Net profit after tax: Rs. 615 mm; a growth of 76% over FY2006-2007
• EPS: Rs. 2.2 grew by 16% over FY 2006-2007
• EBITDA margin for the year increased to14.7%.  

Q4 Fiscal Year 2007-2008

• Revenue : Rs. 2706 mm; a YoY increase of 62% , sequential increase of 12%
• Net Profit after Tax : Rs. 187 mm; a YoY increase of 1001% , sequential decrease of 27%
• EPS for Q4:Rs. 0.5; a YoY increase of 750%, sequential decrease of 35%.
• EBITDA margin for the quarter was 15.0%  

BUSINESS OUTLOOK

The company has put in place a strategy to reach $ 1billion by 2010-11. This will be through a distributed enterpreneural  business model with some of the best business leaders

The company expects 6-7 domain centric verticals each of a size of $ 100 mm or above and backed by a strong Technology solutions engine from India and other emerging

The company expects to acquire to strategically  build the client base as well as leadership in each of the vertical and technology solutions business.

 

MGL will add through internal development and through strategic acquisitions nearly 100 patents and framework knowledge during the next three years

 

"We are exceptionally proud of our performance for fiscal year 2007-2008. It was a strategic year for our company on all fronts," said Sandy K. Chandra, Chairman and CEO, MGL. "While our financial growth made us stronger, We made tremendous gains in building our startegy to expand MGL's global reach and supremacy in a range of key domains through both organic growth and via a number of important, strategic acquisitions.  

 

"Further, this year marked a tremendous leap forward in our stronghold in the US. Through our acquisitions, we have not only expanded our reach into various markets, but have acquired some of the US' leading best-of-breed solutions vendors. Businesses like SDG Corporation, Jass, ebusinessware, add unparalleled domain expertise, top flight customers and prestige to our business. Our technology relationship with Iris financial solutions, C-Sam and Credit dimensions has added dramatically to our efforts to become a Intellectual property led company."

 

Key Business Milestones

Acquisitions: MGL completed multiple strategic acquisitions in key domain areas and dramatically expanding the firm's presence in the US.

Financial Services:  ebusinessware (US), Technology relationship with Iris Financial  solutions and Credit Dimensions

Telecommunications: C-SAM (US) (strategic technology  partnership with our US Subsidiary)

Enterprise Technology Development/ERP: Jass & Associates, Inc. (US)

Identity Management and Enterprise Technology Solutions: SDG Corporation (US)

 

Appointments: MGL announced multiple key business areas.

Aruna Kashinath, COO, MGL

Edward Hoofnagle and Sanjeev Midha, Heads of  E Businessware

Ajay Gupta, President, MGL Technology Solutions Group

Seema Chandra CFO

David Eaton Corporate communications and Brand strategist

Neerja Baheyti- Investor relations

 

Customer Signings:"Even in these turbulent economic times, we continue to prosper and grow at a rate that will be the envy of our industry," continued Chandra. "I believe this is testament to our business model and the carefully planned approach we are taking to ensure that MGL emerges as one of the world's new technology solutions leaders. Our IP-led, domain-centric approach is working and I believe it is unbeatable. We have some some of the best leadership team in the industry."

 

Sourced From: Mascon Global Limited