Press Releases
Monday
August 30, 2004
Rolta 2003-04 Net Profit at Rs. 80.50 Crores; proposes 30 % dividend
Mumbai, August 30, 2004:Rolta India Limited, India's leading CAD/CAM/GIS solutions and services provider, announced impressive Audited Results for the year-ended June 30, 2004. The total income for the year was Rs. 301.05 Crores as against a total income of Rs. 383.57 crores for the 18-months period ended June 30, 2003 representing an annualized growth of 17.7%. The Net Profit after depreciation and before provision for taxation for the year ended June 30, 2004 was Rs. 91.13 Crores recording an annualized growth of 10.7% over the last accounting period 2002-03. The Profit after tax was Rs. 80.50 crores and the diluted Earning Per Share and Cash Earnings Per Share for the financial year ended June 30, 2004 were Rs. 12.6 and Rs. 21.5 respectively.
During the quarter ended June 30, 2004 the Company recorded total revenue of Rs. 92.63 crores against the total revenue of Rs. 69.10 crores in the corresponding quarter last year signifying a growth of 34.0%. The Net Profit of the Company for quarter ended June 30, 2004 was significantly higher at Rs.16.82 crores as against a Net Profit of Rs. 4.46 crores in the corresponding quarter last year representing a growth of 277.4 %.
The Board of Directors has recommended a dividend of Rs.3/- per share for the year ending June 30 2004 as against Rs. 3/- per share for the 18-months in the previous period, thereby signifying an annualized growth of 50%. Another significant milestone is that the net worth of the Company crossed the Rs. 500 crore mark, reflecting the intrinsic strength of the Company. The book value per share has also gone up from Rs. 70.91 to Rs. 80.16 signifying consistent enhancement in shareholders value.
The Board of Directors appointed Mr. Beharilal, an ex-member of Income Tax Tribunal and leading Income Tax Advocate as an independent Director in place of Mr. H P Ranina, whose resignation as a Director of the Company has been accepted by the Board. The Board also appointed Mr. V K Agarwala, an experienced corporate professional as an Independent Director to broad base the Board.
The Board of Directors also appointed Mr. Aditya K Singh as Joint Managing Director of the Company for a period of 5 years w.e.f. September 1, 2004. Mr. Aditya K Singh with his wide experience in the fields of sales, marketing and Internet technologies shall bring increased dynamism to the Company. The Board also appointed Mr. K R Vaidyanathan as a whole time Director of the Company designated as Director Sales and Marketing. He has over 32 years of experience in Sales and Marketing, Software Development and Customer Support and has been with Rolta for over 15 years.
Corporate Highlights for the year:
Forbes Global ranked Rolta, for the 3rd year in a row, amongst the 200 Best Companies in the World (having sales up to US $ 1 Billion) - only eighteen companies worldwide have scored this hat trick.
Rolta continues to be the undisputed leader in the CAD/CAM/GIS business segment in India, and is considered amongst the leading players worldwide for AM/FM/GIS, Photogrammetry S/W services. The Company has executed large orders for defence, telecom, petrochemical and manufacturing sectors in the domestic market and has undertaken complex and high value export projects in US, Europe, and Middle East.
Rolta offers comprehensive Engineering solutions and services worldwide, in the area of detailed engineering including integration and customization of multi discipline applications for process, power and manufacturing industries - as a preferred partner of world-leading organizations such as Dow Chemicals, USA.
The Company also provides cutting-edge IT solutions and services for global customers in the arena of internet, end-to-end eBusiness and eSecurity, data warehousing, data mining and enterprise applications including software development and is executing projects as a preferred partner for global leaders like Computer Associates.
Rolta has formed a joint venture Company in India - Stone & Webster Rolta Limited, with Shaw's affiliate, Stone & Webster Inc., owned 50% by each partner. This joint venture company will provide high quality engineering, design services worldwide and take up selective turnkey projects in process, refinery, petrochemicals and power sectors in India.
The company is accredited with top quality certifications. Rolta has been an ISO 9001:2000 company for almost a decade. Rolta's software development practice has been successfully assessed for SEI-CMM Level 5 (by KPMG the lead Auditor).
Rolta has worldwide presence and State-of-the-art infrastructure with over 2500 professionals, software development centers in Mumbai and Atlanta, USA and subsidiaries in various parts of the world equipped with the latest technology tools for meeting the demands of most challenging global assignments.
Rolta enjoys trusting and long standing partnerships with IT Leaders that include global leaders like Intergraph, Z/I Imaging, PTC, IBM, Microsoft, Oracle and others.
On the HR front, Rolta has been rated amongst the five best large Indian IT employers for employee satisfaction, job content, career growth, appraisal parameters and lowest attrition rates in the IT industry by a survey undertaken by Dataquest IDC (Aug 03).
Company Background : Rolta is an Indian multinational organization well equipped to provide knowledge-based Mapping, Engineering, Software & IT-enabled services to customers across the world. By judiciously combining resources from worldwide facilities, Rolta is able to meet customer needs cost-effectively. Since 1982, Rolta has been a pioneer in computer graphics, mapping and engineering software. The company has consistently been ranked as India's #1 CAD/CAM/GIS solution provider and is considered amongst the top Geo-Engineering software conversion service vendors worldwide. Rolta offers end-to-end solutions and services for Geo-engineering, Plant Engineering/Automation, Mechanical Design Automation and Product Lifecycle Management. The company also offers value added solutions and services for Enterprise Application Integration that includes integrating & web-enabling Engineering & Business applications, Smart Cards, eSecurity & Data-Warehousing/Mining.
For additional information
Mr.V L Ganesh
Director-Finance & Chief Financial Officer
Rolta India Limited
Telephone: 2832 6666 / 2826 2222 Extn: 1501
E-mail: vlganesh@rolta.com
www.rolta.com
