Edserv Softsystems Limited
NSE Symbol EDSERV
Edserv Softsystems has performed well in FY 11. Its consolidated and stand alone results, along with FY 10 comparison are given below. The fourth quarter results are also compared with the 4th Qtr of FY 10.
Net Income from sales / services for FY 11 (consolidated) is Rs.122.16 Cr ( stand alone is : Rs.107.42 cr) which is 134.39% above FY 10 sales. The Q4 FY 11 Sales was Rs.37.95 cr – up by 82.5% from Q4 FY 10.
Operating Profit after Interest for FY 11 (Con) is Rs.54.10 Cr( SA : Rs.54.62 Cr) - which is 132.67% higher than FY 10. The Q4 FY 11 OPT was Rs.17.48 cr – which is 123.39% above Q4 FY 10.
Profit(before tax) for FY 11 (Cons) is Rs.54.45 Cr (SA : Rs.54.97 Cr) which is a good 128.62% above FY 10. The Q4 FY 11 PBT is Rs.17.54 Cr – up by 116.82% above Q4 FY 10.
Net Profit for FY 11 (Cons) is Rs.41.22 Cr (SA : 41.74 Cr) – which is a good 128.74% above FY 10. The Q4 FY 11 NPT is Rs.11.94 Cr – which is 93.07% higher than Q4 FY 10.
This Chennai based Education Services Company has recommended a dividend of Rs. 3 per share for FY11.
Basic EPS against a face Value of Rs.10 is Rs.26.79 for FY 11 (Cons); Rs.26.22 (FY 11 stand alone); Rs.15.01 for FY 10 (SA); Rs. 7.51 for Q4 FY 11; and Rs. 5.15 for Q4 FY 10.
PE RATIO : Current Market price is Rs.143. At this price, and on the EPS of Rs.26.79, the PE ratio works out to just 5.34.
Considering the Potential for expansion in this area of Business, Edserv is a good investment for medium to long term Investors.
Signs Agreement with IL & FS education
EdServ has signed an agreement with IL & FS Education whereby the company will deliver and support interactive teaching and learning environment in schools through Technology based eLearning solutions. With the aid of innovative technology platform like K-Yan (Knowledge Yan), EdServ will be further strengthening its presence in the school segment and will also target solutions in regional languages including Tamil, Telugu, Hindi, Marathi and Kannada. The company’s school expansion continues to grow with the student reach through schools increasing by 40%.
EdServ has also expanded its All India Network of Dealers & Distributors for its online offering by 30%
Commenting on the FY11 performance, S. Giridharan, Chairman and CEO, EdServ said, "FY11 has been a year of strong growth for EdServ. We have more than doubled both the revenues and net profit for the full year. During 2010-11, the company has expanded and strengthened its presence in all its area of operations – Academics, Test Preps, Higher education support, Skill development training and Job orientation. Our sign-up with IL&FS education is significant in improving our reach to K-12 students providing academic support in their respective Boards of school education Pan India. These will be the growth drivers for the company going forward."
On the expansion plans for the next 12 months, Giridharan said, "As part of our expansion plans for FY12, we will expand our reach to offering our education products through TV, Tablet and Mobile device based users, apart from Internet based Laptop and Desktop. Other focus areas for the year include expanding our offering in the online test prep space to all leading Indian and International entrance examinations for Higher education. Our plan is also to reach out to students who can’t afford Internet connections and devices for accessing LAMPSGLOW contents through specialized training centers called EdInstitute that will provide the much needed access to these students, especially in Tier 2 and 3 towns in the country."
RESULTS TABLE :
FY 11 CS | Q4FY11 | Q4FY10 | |||
Net sales / services | 12216.05 | 10742.01 | 5211.89 | 3795.06 | 2079.47 |
Traded goods | - | - | 1503.33 | - | 665.47 |
Gross Profit | 12216.05 | 10742.01 | 3708.56 | 3795.06 | 1414 |
General Admn Expenses | 6586.53 | 5060.27 | 1189.86 | 1991.88 | 541.8 |
Depreciation | 180.01 | 180.01 | 150.1 | 49.53 | 71.41 |
Operating Profit | 5449.51 | 5501.73 | 2368.6 | 1753.65 | 800.79 |
Interest | 39.57 | 39.57 | 43.41 | 5.5 | 18.22 |
Operating Profit after Intt | 5409.94 | 5462.16 | 2325.19 | 1748.15 | 782.57 |
Other Income | 34.85 | 34.85 | 56.4 | 5.69 | 26.34 |
Profit( before tax) | 5444.79 | 5497.01 | 2381.59 | 1753.84 | 808.91 |
Tax Expense | 1322.9 | 1322.92 | 579.6 | 559.53 | 190.31 |
Net Profit | 4121.89 | 4174.09 | 1801.99 | 1194.31 | 618.6 |
Face Value (in Rs.) | 10 | 10 | 10 | 10 | 10 |
Paid-up Equity | - | - | 1200.6 | - | 1200.6 |
Reserves | - | - | 3662.89 | - | 3662.89 |
Basic EPS (in Rs.) | 26.79 | 26.22 | 15.01 | 7.51 | 5.15 |
Public Holding (%) | 75.47 | 75.47 | 70.06 | 75.47 | 70.06 |
ANNOUNCEMENTS TO NSE
30-05-2011 The Board of Directors of the Company at its meeting held on May 30, 2011 transacted the following businesses :- (1) Approved the constitution of FCCB / ADR / GDR committee to carry out necessary acts as may be necessary; (2) Approved the reappointment of Managing Director and Chairman; (3) Recommended 0.75% commission to non-executive directors.
30-05-2011 The Board of Directors of the Company at its meeting held on May 30, 2011 have recommended a final dividend of Rs. 3/- per share.
30-05-2011 "EdServ FY11 Net Profit up 129% at Rs.41cr, Revenues up 134% at Rs.122cr".
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