Press Releases
Tuesday
September 30, 2003
Rolta 2002-03 Net Profit at Rs. 112.29 Crores; proposes 30% dividend
Mumbai, September 30, 2003: Rolta India Limited, India's premier CAD/CAM/GIS solutions and services provider, has announced Audited results for the eighteen-month period ended June 30, 2003. Total income for this period was Rs. 383.57 Crores against a total income of Rs. 301.46 Crores during the previous year ended on December 31, 2001.
The net profit after depreciation and provision for Taxation for the period ended June 30, 2003 was Rs. 112.29 crores against a net profit of Rs. 105.45 Crores during the previous year. The cash profit for the period ending June 30, 2003, was Rs. 195.22 Crores as against Rs. 142.25 Crores during the previous year. The earning per share and cash earning per share for the period ending June 30, 2003 are Rs. 17.6 and Rs. 30.65, respectively, compared to Rs. 16.6 and Rs. 22.3, for the previous year. In the last quarter, the company has prudently made increased provisions for taxation and has seen an increased consumption of raw materials due to an occasional product mix variation.
The Board of Directors has recommended a dividend of 30 % for the period ending June 30, 2003, resulting in a higher payout as compared to last year, due to the profit-distribution tax being borne by the company. The net worth of the company has shown a healthy growth and stands at Rs 451.64 Crores as on June 30, 2003 reflecting the intrinsic strength of the Company - the book value of the share has also gone up from Rs 56.66 to Rs.70.91, thereby enhancing shareholder value.
The Company has continued to sustain its overall revenue and profitability in spite of the challenges posed by the prevailing economic climate, which has not shown much of a change since the past two years and global markets remain sluggish with a cascading effect on the domestic market. This has been achieved due to a comprehensive business, infrastructure, financial and managerial restructuring of the company.
The company has implemented the concept of Strategic Business Groups (SBG) by creating three SBGs for - Geo-Engineering/GIS, Engineering Design Automation and eSolutions within its 2 business segments. The company has established a wholly owned subsidiary, Rolta UK, in the United Kingdom; this company is fully operational and is the holding company of all Rolta operations in Europe (Germany & Netherlands) and also oversees the operations of Rolta Saudi Arabia and Rolta Middle East. Rolta US has been strengthened with infusion of additional capital and setting up of a World class Engineering Software and services Center. This subsidiary focuses on business in the whole of the American Region comprising of Canada, US and the various countries in South America.
The company also implemented a financial restructuring program, by replacing its earlier higher cost debt, with foreign currency loans availed at internationally competitive rates - this is likely to help the Company reduce its interest burden by nearly Rs. 10 crores per annum, from the current year.
For the second year in a row, the company has been ranked by Forbes Global, amongst the 200 Best Companies in the World (sales up to US$ 1 Billion). CFO Asia, a leading finance magazine published by The Economist Group, in its survey on Asia's best Annual Reports has ranked Rolta India's last annual report amongst the first 25 in Asia and at the 2nd position among select Indian companies. Dataquest India has recently ranked Rolta as the 6th Best Employer in IT Industry, reflecting the inherent HR strengths of the company.
Rolta continues to be undisputed leader in the CAD/CAM/GIS business segment in India, and is considered amongst the leading players worldwide for Geo-Engineering Services.
In line with its philosophy of offering cutting edge technologies to its customers, the company has introduced, during the period ending June 30, 2003, a range of high-end GeoEngineering Services in large-scale mapping, using Photogrammetry and LIDAR technologies. The company has also launched sophisticated change detection solutions for the Imaging market particularly suitable for defense. The company has signed a MoU with the Department of Science and Technology (DST), Government of India, wherein Rolta has been recognized as the leading solutions provider in GeoEngineering, appointed as DST's Primary Technology Solutions Provider and an understanding reached, whereby Survey of India and Rolta will enter into a technology agreement for generation of value-added Geospatial/Mapping data.
The Company has forayed into the large Detail Engineering Services segment of the Plant Engineering Industry and foresees immense opportunities, some of which are at finalization stage, with large multi-billion dollar global organizations. Intergraph Corporation has already appointed Rolta as a preferred service provider in North America. Rolta has also expanded its Mechanical Design Automation services offering, across a wider range of platforms.
The company has entered into the large Smart card market and has launched various solutions for Driving license, Healthcare, Fare Collection, Retail, Banking/Finance, National ID, Access control, Toll Collections, etc. Rolta has widened its professional services in the areas of Enterprise Management, eSecurity, Storage and Service management and Rapid Application Development to the CA platform and seen good results with increased growth. Rolta also launched Internet telephony and launched RoltaSecure - a unique and comprehensive Portal service that helps organizations, in real time, to ensure the availability, confidentiality and integrity of their worldwide network and computing resources.
Company Background : Rolta is an Indian multinational organization well equipped to provide knowledge-based 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 Design Automation, Mechanical Design Automation and Product Lifecycle Management. The company also offers value added solutions and services for Enterprise Application Integration (EAI) that includes integrating & web-enabling Engineering & Business applications, Smart Cards, eSecurity and Data-Warehousing/Mining. Forbes Global has ranked Rolta for the second year in a row, amongst the 200 Best Companies in the World (sales up to US$ 1 Billion).
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
