FINANCIAL HIGHLIGHTS FOR THE QUARTER ENDED JUNE 30, 2012
- Geodesic reported revenues of Rs.203 crore for the quarter ended June 30, 2012.
- Geodesic reported earnings of Rs.42 crore for the quarter ended June 30, 2012.
- EPS stood at Rs.4.71 for the quarter ended June 30, 2012.
OPERATIONAL HIGHLIGHTS FOR THE QUARTER ENDED JUNE 30, 2012
Geodesic, during the last quarter has remodeled its product and business lines to extended its reach to include several new market segments including pharmaceutical, logistics and FMCG. Geodesic has integrated its media products to enrich customer experience across desktops and hand held devices.
In a bid to make the company financially stronger, Geodesic, has consciously decided to reduce its exposure to customers whose payment cycles have been affected/ stretched due to the global economic crisis. The fall in sales during the said quarter is a reflection of this reduced exposure. As part of this strategy, Geodesic has now been aligning with stronger partners to consolidate business and ensure revenue growth.
A MARK TO MARKET (MTM) loss towards the forward contracts, FCCB liability and net off increase in debtor values is around Rs.50 crores owing to the fact that the US$ has appreciated against the Rupee(Rs.). However, the value of the US$ deposits of the Geodesic group have also increased in terms of Rupee(Rs.). This increase in the Rupee(Rs.) value on consolidation goes towards the Foreign Currency Translation Reserve and not to the Profit and Loss A/c as per the relevant accounting standards.
Geodesic continues to remain a dividend paying company. The dividend per share (adjusted for face value) has grown from Rs.0.40 per share to Rs.2.75 over the last 5 years. The Board of Directors, in line with the growth in dividend payout, recommended a dividend policy to be followed by Geodesic Ltd during the next three financial years including FY 2011-12.
- A yearly payout of 14 -18% of Geodesic Ltd’s net profit would be distributed as dividends amongst the shareholders.
- The yearly dividend would be paid to shareholders once a year, post approval of the dividend at Geodesic Ltd’s Annual General Meeting.
This is exclusive of any other one-offs or buy-backs that may arise in future. The dividend policy may be reviewed by the Board of Directors, if the company is presented with some exceptional growth opportunity including acquisition or a joint venture.
FOREIGN CURRENCY CONVERTIBLE BONDS
Based on Reserve Bank of India’s revised guidelines, Geodesic Ltd has submitted an application to the Reserve Bank of India seeking its approval to buyback its’ convertible bonds prior to the FCCB maturity in 2013.
The Board has also approved the proposal to buyback of 25% of the Equity shares of the company through open offer through stock exchanges. The Board has authorized a committee consisting of members of the Board to take steps to implement the buy back.
Geodesic added 15 employees during the quarter ended June 30, 2012.
NEW PRODUCT LAUNCHES
- Geodesic launched e-TORF (True or False) – a comprehensive product authentication and validation service to protect consumers from fake and spurious products. e-TORF allows a consumer to identify the genuineness of the product he/she has purchased by sending an SMS to a pre-designated mobile number. e-TORF’s novelty is in its simplicity and uses simple numbered scratch cards printed on the product coupled with an SMS to authenticate and validate a product. E-TORF is currently undergoing trials with established companies and brands. We believe e-TORF has huge market potential in India and other nations where piracy of products is rampant.
- Spokn launched a unique web and a mobile call back service that is deeply integrated with Spyder and .fn financial products to deliver better pre and post sales customer experience.
- Geodesic financial applications suite - launched ‘Investa’ a desktop-based Investor Centric portfolio analytic and decision-making platform.
- Mundu TV was launched on the Blackberry phones. Blackberry users can now enjoy Live TV on the go from their Blackberry device. Mundu TV added a devotional content category to the bouquet of the existing 50 odd channels. Mundu TV now has more than 8 million downloads and is one of the most popular applications on the Appstores.
- Mobile Indian, a leading mobile/ telecom portal launched by afaqs - featured Mundu TV in the top 5 entertainment applications for IOS.
- Mundu TV shortlisted for "Best TV App" in the IP&TV Industry Awards 2012.
CUSTOMERS AND PARTNERS
- Geodesic extended its CRM product and services to a leading Malaysian Bank following the acquisition of RBS' Asian units. The solution includes Customer Alignment System including CRM and integrated communication to its users.
- Geodesic signed contracts with Religare Securities, Kotak Securities and Axis Bank Ltd to provide them with our financial products and solutions.
- Geodesic signed a contract with a leading Private Bank to provide them with a complete Wealth Management Suite.
- Geodesic marks its foray in the logistics industry, to provide pick-up and tracking solutions to VRL Logistics. GeoAmida will automate vehicle & goods movement in their remote hubs.
- Delhi Metro Rail Corporation Ltd. (DMRC) has launched "More Delhi" Common mobility card for DMRC run feeder buses. DMRC is using GeoAmida Handheld terminals, for bus conductors to issue tickets either through "More Delhi" contactless cards or through cash. Geodesic has developed the ticketing application and integrated it with DMRC's back-end BIS system.
ABOUT GEODESIC LIMITED
Geodesic Limited is an innovator of software products focused in the areas of Content Management, Unified Communication, CRM and Collaboration Solutions for the enterprise and the retail segments. Geodesic products include Mundu Radio, Mundu TV, Mundu IM &SMS, BBeep, Spokn, Continuum and Spyder. Headquartered in Mumbai, India. Geodesic offers its solutions across smart phones, tablets and desktop computers. Geodesic has successfully launched e-governance solutions using GeoAmida – a handheld terminal used largely for Financial Inclusion, Public Distribution Systems, NREGA and Law Enforcement. The Fn Division of Geodesic specializes in offering innovation driven products and solutions for the financial services industry including Broking, Banking & Insurance.
The company is listed on the National Stock Exchange and the Bombay Stock Exchange in India. Geodesic has offices in Mumbai, Bangalore, Chennai and Hyderabad in India, USA, Uruguay, UK, UAE, Hong Kong and Mauritius.