Sunday, October 21, 2012

Vakrangee Softwares Limited - RESULTS FOR - Q2 FY 2013 (SEP,2012) - NET SALES UP 16%; NET PROFIT UP 51.5% YoY - ANNUAL REPORT 2012-13 - FUTURE PROMISING

Vakrangee Softwares Limited

RESULTS FOR
Q2 FY 2013 (SEP,2012)

Vakrangee Softwares has produced very good results for the q/e Sep,2012.

HIGH LIGHTS

Net Sales for Q2 FY13 stands at Rs.361.35 Cr; up by 6.47% from Q1 FY 13 (Rs.339.41 Cr); and up by 15.78% from Q2 FY 12 (Rs.312.1 Cr)

Total Expenditure for Q2 FY13 stands at Rs.308.84 Cr; up by 5.73% from Q1 FY 13 (Rs.292.11 Cr); and up by 10.95% from Q2 FY 12 (Rs.278.36 Cr).

Profit  before Intt, Dep. & Taxes for Q2 FY13 stands at Rs.5251.74 Cr; up by 11.03% from Q1 FY 13 (Rs.47.3 Cr); and up by    55.65% from Q2 FY 12 (Rs.33.74 Cr).

Net Profit for Q2 FY13 stands at Rs.24.5 Cr; up by     19.69% from Q1 FY 13 (Rs.20.47 Cr); and up by 51.49% from Q2 FY 12 (Rs.16.17Cr).

Diluted EPS for Q2 FY13 stands at Rs.0.48; compared to Rs.0.41 in Q1 FY 12 and Rs.0.32 in Q2 FY 12 on Rs.25 Cr equity (half of current equity).

CURRENT MP :52.20

52 week high/low price : 641.00/29.90

More details are in the Table Below :-

VAKRANGEE SOFT
30-Sep-12
%Dif QoQ
30-Jun-12
%Dif YoY
30-Sep-11
31-Mar-12
31-Dec-11
Net Sales
36135.49
6.47
33940.83
15.78
31209.96
45197.35
34058.3
Total Expenditure
30883.75
5.73
29210.84
10.95
27835.97
40173
30022.35
Profit  before Intt, Dep. & Taxes
5251.74
11.03
4729.99
55.65
3373.99
5024.35
4035.95
Net Profit
2449.99
19.69
2046.93
51.49
1617.27
1981.27
1726.94
Diluted EPS
0.48
20
0.4
-92.58
0.32
0.39
6.9
Net Sales
36135.49
6.47
33940.83
15.78
31209.96
45197.35
34058.3
Changes in inventories of FG,WIP,SIT
-61.88
-224.86
49.56
-68.96
-199.35
67.7
65.46
Cost of materials
26438.27
6.64
24791.49
2.71
25741.24
36499
26701.03
Employee benefits
526.27
80.06
292.28
169.9
194.99
339.11
302.47
Depreciation
3747.34
4.21
3595.85
104.11
1835.93
2982.41
2511.39
Other expenses
233.75
-51.47
481.66
-11.18
263.16
284.78
442
Total expenses
30883.75
5.73
29210.84
10.95
27835.97
40173
30022.35
Profit before tax
3357.57
21.18
2770.73
44.57
2322.38
3019.91
2554.18
Tax Expenses
907.58
25.39
723.8
28.71
705.11
1038.64
827.24
Net Profit
2449.99
19.69
2046.93
51.49
1617.27
1981.27
1726.94
Face Value (Rs )
1
0
1
0
0
1
0
Paid-up Equity
5021.96
0.34
5004.8
100.78
2501.17
2502.4
2501.17
Basic EPS
0.49
19.51
0.41
-92.43
0.32
0.4

Diluted EPS
0.48
20
0.4
-92.58
0.32
0.39
6.9
Public holding (%)
65.71
-6.34
70.16
-6.36
70.17
70.16
70.15


Key Financial Highlights

 Net Sales stood at Rs.361.35 Cr in Q2FY12-13 as against Rs. 312.11 Cr for the corresponding quarter last year, registering a growth of 15.8% 

 EBITDA stood at  Rs.91.40 Cr in Q2FY12-13 as against Rs.52.64 Cr for the corresponding quarter last year, registering a growth of 73.6% 

 EBITDA margin is 25.3% as against 16.9% for the corresponding quarter last year 

 PAT stood at Rs.24.50 Cr in Q2FY12-13 as against Rs.16.17 Cr for the corresponding quarter last year, registering a growth of 51.5% 

 EPS (basic) for the face value of  Rs.1/- stood at Rs. 0.49 in Q2FY12-13 as against  Rs. 0.32 in Q2FY11-12


About Vakrangee Softwares Limited

Incorporated in 1990, the Company is a pioneer and an established player in e-Governance domain. It is well equipped with cutting edge infrastructure, highly experienced professionals, strong investment and technological breakthrough on a continual basis in order to maintain strict time-bound completion of mission critical and socially relevant projects.

The Company has been certified with CMMI Maturity Level 3, ISO 9001:2008, ISO 20000:2005 and ISO 27001:2005.

It has been awarded 18th rank in the Deloitte Technology Fast50 India 2011 program; 226th rank in Technology Fast 500 Asia pacific 2011; identified as one of the 100 Best Mid Size Companies in India as per Business World (July 16, 2007 Issue); featured in The Economic Times ET-500 Best Companies in 2006-07; and in the list of the Top 250 Technology fast Asia Pacific Companies of 2003 & 2004 by Deloitte Touche Tohmatsu.

ANNUAL REPORT – FY 2011-12 - SUMMARY

• Emerged as the #2 implementer of AADHAR in terms of the data uploaded – we achieved this distinction despite the fact that we began our implementation later than all other entrants.

Creating the largest chain of village services supermarkets – The Citizens Service Centres which will deliver G2C,B2C, and B2B services at the village level.

Successfully implemented the Haryana PDS pilot project – an important proof of concept that will be replicated across the country.

Rewarded our shareholders by declaring a 1:1 bonus, while our market valuation has reached an all time record of 1384 Crs as on March 31, 2012.

Consolidated





2011-2012
2010-2011
YoY Growth%
Sales&O.Income
1357.82
890.28
52.52
ProfitBeforeTax
102.91
66.81
54.03
Prov.for Itax
20.34
14.35
-
Prov.for Def.Tax
11.7
4.31
-
Net Profit
70.87
48.15
47.19
Appropriations:



ProposedDividend
0.2
2

EPS

1.42
1.07
32.71

PERFORMANCE
Consolidated:

During the year, your Company recorded the total income of `1357.82 Crs from Rs.890.28 Crs in previous year, a growth of 52.52%. The EBITDA stood at Rs.246.16 Cr from Rs.139.48 Cr in previous year, an increase of 76.48%. Profit after Tax was increased to Rs.70.87 Crs from Rs.48.15 Crs in previous year, up by 47.19%.

 DIVIDEND

Your Directors recommended a dividend of Rs.0.20 per equity share

 SHARE CAPITAL:  During the year,

(a) has allotted 12,20,000 Equity Shares having face Value of `10 each to M/s. Vakrangee Holdings Private Limited NJD Holdings Private Limited) (one of the Promoter Group Companies) upon conversion of equitable number of Fully Convertible Warrants issued on Preference basis.

During the year, the Company passed special Resolution (by way of Postal Ballot) for (a) sub-division of each Equity share of the Company having face value of Rs.10 each into 10 Equity shares having Face Value of  Rs.1 each, and (b) Capitalization of Reserves of the Company by issuance of Bonus shares in the ratio of 1:1. The record date for both the Corporate Action was April 13, 2012.

Post the aforesaid Corporate Actions,i.e. as of April 14, 2012, issues & allotments  except allotment of Bonus shares which took place on April 14, 2012), the paid-up share capital of the Company stands increased to 500479580 shares of Rs.1 each aggregating to Rs.50,04,79,580.

The Company has the following subsidiaries:

• Vakrangee IT Solutions Limited : We hold 100% of Equity Share capital of the Company, originally incorporated as V-Techno Services Limited, Vakrangee IT Solutions Limited has proprietary softwares like Document Management Services (DMS), Human Capital Management (HCM) and School ERP which are ready to be utilized in years to come.

• e-Doc Vision Infotech Pvt. Ltd.:  The Company is to focus on consultancy on document and business process outsourcing to various customers. e-Doc Vision provides state of the art technology solutions. The Company has been allotted an Industrial plot admeasuring to 5 Acres from HSIIDC at IMT Manesar, Haryana, where on the Company is planning to develop an IT Centre. The project shall be financed partly by Vakrangee Softwares Limited in form of equity and partly by debt from outsiders.

• Vakrangee e-Solutions INC.  :  We hold 100% of Equity Share capital of the Company which is incorporated in the financial year 2009-10 at Philippines for implementing the project we have bagged for Digitization of critical records for Govt. of Philippines by setting up digitization centers all over Philippines.

• Vakrangee Finserve Limited  :  Vakrangee Finserve Limited is a 100% Subsidiary of the Vakrangee Softwares  limited, incorporated in September 2011 with a focus on working as Business Correspondent for various Banks under the BC Model of Reserve Bank of India (2006) in the area of Financial Inclusion. The Company has already signed agreements with State Bank of India, Bank of India and Union Bank of India for carrying out BC services for these banks in identified Gram Panchayats. The services include opening of Bank Accounts, Deposits, Withdrawals and remittances. Besides, the company would provide Business Facilitator Services to these banks which involve mobilization deposits and loans. 

The company has a plan to extend its network to about 5000 outlets across the country in the next three years.


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