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Revenues
Total revenue was Rs.1, 377.95 Cr in 08-09 against Rs.1, 099.30 Cr for 07-08, representing an increase of
25 %.The revenues of the company from its software services and product business constituted 96% of
revenue and from business process outsourcing and professional services constituted 4% of revenue in the
year 08-09. However, revenues in Rupee terms registered a growth of 25% primarily on account of rupee
depreciation.
Operational income
Accounts receivable
Debtors are 14.74% of the revenues for the year 2009 and it is lesser than the previous years. The days of
sales outstanding went down to 52 days as against 63 in 2008 and 60 in 2007.
Cost elements
The primary cost drivers of the company are People related costs (Compensation & Benefits), Sales &
Marketing Costs and Corporate Overheads. The automated systems and work flows support the cost
review and approval process. As a % of total cost the staff related cost amounts to more than 75% over
the last three years and it shows an increase from 2007-2009
Profitability
From 101.06 crores in 2007, the Net PAT reduced by 26.2% to73.22 crores in 2008 mainly on account of
unprecedented rupee appreciation. But in 2008 the Net PAT increased to 130.71 crores on account of
effective utilization of manpower and better cost management.
Dividend
From 45% on par value in 2007, the dividends came down to 30% in 2008 and went up to 55% in 2009
Investments
No funds raised on short-term basis have been used for long-term investment. The investments in 2009
went up by 151.8% and 96% of the investments are in mutual funds.
Net worth
The net worth of the company is as given below. The figures are in crores
2007 2008 2009
Stated net worth 603.34 665.17 779.67
Tangible net worth 506.76 538.66 499.50
Though the stated net worth shows an upward trend the tangible net worth has reduced in 2009 by 7.2%.
The stated net worth is high mainly because of the inclusion of investments
Assets:
Tangible: buildings, leasehold improvements, plant and machinery, servers and computer accessories,
furniture and fixtures, office equipment and electrical fittings and vehicles
Intangible: indigenously developed software products and intellectual property which should not be taken
into account.
Current assets:
The debtors went up by 16.8% in 2008 and came down by 3.48% in 2007. The doubtful debts and hence
the provision has been increasing since 2007.
Loans
The Company has not taken any loans, secured or unsecured from companies, firms or other parties
covered in the register. The secured loans from the bank have been decreasing over the three years. From
1.29 crores in 2007 the loans came down to 0.36 crores in 2009. The Company has not defaulted in
repayment of dues to a bank. The Company has no outstanding dues in respect of a financial institution or
debenture holders from 2007 to 2009. The Company did not have any term loans outstanding during the 3
years. The Company has not given any guarantee for loans taken by others from banks or financial
institutions.
Current liabilities
In 2009 Total current liabilities have increased by Rs 66.15 Cr (36%), primarily on account of forward
cover payable, salary payable, statutory liabilities, provision for expenses, billing in excess of revenue,
gratuity and leave encashment.