Geometric Ltd. announced its first quarter financial results for FY 2014-2015 at the board meeting held today.
Highlights for the quarter ended June 20, 2014 (Q1 FY15)
- The Company recorded operating revenues of USD 44.96 Mn, as against revenues of USD 44.29 Mn in the previous quarter, and USD 46.45 Mn in the corresponding quarter last year
- The Profit after tax rose 185.2% and 24.6% to INR 192.08 Mn from INR 67.35 Mn in Q4FY14 and INR 154.14 Mn in Q1FY14 respectively
- Signed new deals worth USD 8.08 Mn
- EPS for the quarter at INR 3.02
In Rupee terms, the Company closed the quarter with operating revenues of INR 2,688.45 Mn compared to revenues of INR 2,733.62 Mn in the last quarter and an increase of 3.3% from INR 2,602.75 Mn in Q1FY14. The EBITDA margins saw a healthy improvement from 10.4% in the previous quarter, and 15.6% in the same quarter last year, to 17.3% in Q1FY15. The Company’s EBITDA stood at INR 463.81 Mn, a rise of 63.6% and 13.9% from INR 283.47 Mn in the preceding quarter and INR 407.20 Mn in Q1FY14 respectively.
Mr. Manu Parpia, Managing Director & CEO said, “Our results reflect our continuing recovery driven by growth in our automotive vertical, supported by a return to growth by the large industrial customer which had seen serious decline in revenues last year. We believe the momentum will continue over the next few quarters, and it is our desire to accelerate the growth. The next quarter result will reflect the impact of salary revisions, which are in line with the industry.”
The company had a total employee strength of over 4500 employees as of June 30, 2014, including its subsidiaries.
Key wins and additional business highlights for Q1 FY15
The company added one new customer during Q1, and signed new deals worth USD 8.08 Mn. Some of the significant wins in this quarter include:
- Started a new engagement for Should Costing services for a leading manufacturer of specialty trucks in North America
- A new Product Lifecycle Management solution project to support downstream processes with a European car major
- Signed a product engineering contract with one of the largest aerospace companies in North America
- Entered into an application management support deal with an Asian locomotive company
- Commenced a data migration project with a global automotive OEM in India
- Began software product development for a leading Oil & Gas technology company in Europe
Other important business highlights for the quarter include:
- Appointed Neeraj Dutt as the CFO
- Signed a new contract with Volvo Cars, extending a longstanding application management services engagement to include additional CAD/PLM applications
- Helped Godrej Process Equipment Division modernize their manufacturing process using Geometric’s CAM solution, CAMWorks®
- Launched the 2014 version of CAMWorks for Solid Edge®, with tighter integration for reducing programming time
