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Highlights of Business Performance, Key Accomplishments and Noteworthy Items in the Fiscal Year and 4th Fiscal Quarter
- The USA economic slowdown and changes in the consumer consumption behavior during the year has impacted a drop of approximately 22% in Document lifecycle and 20% in Accounts Receivable Management space respectively, resulting in Company’s overall sales decrease by Rs 443.1 million over the prior fiscal year.
- Consolidated Total Income for the FY increased 3.8% to Rs 8,970.7 million from Rs 8,465.0 million for the corresponding last fiscal year
- EBITDA increased by 6.7% for the FY to Rs 1,168.4 million from Rs 1,095.5 million over the corresponding last fiscal year 2007-08
- Net Profit decreased by 14.8% for the current FY to Rs 463.9 million from Rs 544.4 million over the corresponding last fiscal year.
- Total Income for the fourth quarter decreased 3.0% to Rs 2,289.0 million from Rs 2,358.6 million over the third quarter FY 2008-09
- EBITDA increased by 12.6% for the fourth quarter to Rs 355.9 million from Rs 316.0 million over the third quarter FY 2008-09
- Net Profit increased by 62.0% to Rs192.9 million from Rs119.1 million over the third quarter FY 2008-09
- Added over $17.5 million in customer contracts in the 4th Fiscal Quarter with $12.5 million from existing customers.
- Substantial savings from productivity improvements, integration and rationalization of global operations helped defray overall increases in costs in India – 11,419 associates across over 40 delivery centers in India, China, Mexico, U.S. & Canada
- By right shoring we were able to successfully transition some key business processes from US to our near shore and off shore operations in Mexico, India and China
- Over 50% of leading FORTUNE 100® companies as reference-able clients in our core Service offerings
- Top 100 clients represent over 79% of total revenues with the largest customer representing only 16% of total revenues.
- International Association of Outsourcing Professionals (IAOP) ranked us:
- Best 20 Leaders by Industry Focus: Health Care;
- Best 10 Companies by Service Offered: Document Management;
- Best 10 Leaders by Service Offered: Financial Management;
- Best 20 Leaders by Region Served: India;
- Best 20 Leaders by Region Served: Canada;
- Company maintained strong liquidity position with DSO of 51.6 days, Debt to Equity Ratio of 1.4 and Net Bank Debt of $110.9 million at March 31, 2009
- The Board of Directors approved the buy-back of the Company's fully paid-up equity shares of Rs 10/- each from the existing owners of shares from the open market through Stock Exchanges at a price not exceeding Rs. 50/- per share payable in cash for an aggregate amount not exceeding Rs. 5 crore. At March 31, 2009 the Company had purchased 43,034 shares.
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