NSE Press Release
The media had reports that Oil & Natural Gas Corpn Ltd has reached an agreement with Cairn India Ltd. to build a $340 million pipeline to transport crude oil found in Barmer district of Rajasthan to Gujarat.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Reply is awaited from Oil & Natural Gas Corpn Ltd.
January 15th, 2007
NSE Press Release
The media had reports that Cairn India Limited has reached an agreement with Oil & Natural Gas Corpn Ltd. to build a $340 million pipeline to transport crude oil found in Barmer district of Rajasthan to Gujarat.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Cairn India Limited has vide its letter inter-alia stated, “As already disclosed, we remain in active discussions with the Government of India and other third parties, including ONGC and ONGC’s subsidiary MRPL, regarding the arrangements for the crude from the Rajasthan fields operated by Cairn. However, we have yet to reach an agreement on the construction of a pipeline from the Rajasthan fields. Further, Cairn India was not the source of this report and has not approved the content. “
January 15th, 2007
NSE Press Release
The media had reports that Videsh Sanchar Nigam Ltd. may acquire Sri Lanka’s private telecom operator, Suntel.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Videsh Sanchar Nigam Ltd. has vide its letter inter-alia stated, “In this regard we would like to inform you that as of today there is no such proposal before the Board of VSNL,”
January 15th, 2007
The Exchange has successfully completed its 1731st Normal Settlements (Rolling T+2 following SEBI directive) since inception i.e., Settlement Number N – 2007008 on January 15, 2007. The settlement statistics are as follows:
Particulars
|
Values
|
|
|
N – 2007008
|
|
Total traded quantity (lakhs)
|
5639.02
|
|
Total traded value (Rs. In Crores)
|
9501.12
|
|
Total value of the settlement (Securities) (Rs. In Crores)
|
2756.47
|
|
Total value of the settlement (Funds) (Rs. In Crores)
|
869.25
|
Shortages for the settlement
|
0.32%
|
|
% of Delivery ( No. of shares deliverable / No. of shares traded )
|
23.64%
|
Retail Debt Market has completed its 1005th settlement details of which are as follows:
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Settlement No.
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Traded Value
|
Settlement Value
|
|
|
|
Securities
|
Funds
|
|
D- 2007008
|
NIL
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NIL
|
NIL
|
January 15th, 2007
Total Organic Q3 Revenues Increase by 56% YoY. Total Revenue Increase with Modern Engineering Consolidated is 101% YoY.
Mumbai, 15 January, 2007
Geometric Software Solutions (BSE: 532312, NSE: GEOMETRIC) today announced its result for the third quarter of FY 2006-07.
Organic operating revenues for the quarter increased by 7% in US Dollar terms and 3% in Rupee terms as compared to previous quarter. As compared to Q3FY06, operating revenues increased by 40% in Dollar terms and 37% in Rupee terms. EBITDA increased by 13% as compared to Q2, but Operating Profit (PBT less other income) declined by 5%, primarily due to Rupee appreciation and interest on debt to fund the acquisition of Modern Engineering.
Operating revenues including Modern Engineering grew 80% in US Dollar terms and 78% in Rupee terms YoY. EBITDA including Modern Engineering increased by 107% YoY. Modern Engineering was consolidated with Geometric with effect from 1st November 2006. During this two month period Modern contributed USD 5.6 Million in revenue and USD .09 Million in PAT.
Commenting on the results, Dr. Ravi Gopinath, CEO and MD said “We are on track with respect to our plan for organic business in this financial year. With the consolidation of Modern Engineering, Geometric has a significantly enhanced business portfolio and delivery footprint. As we continue the process of business integration we will increasingly capitalize on this. ”
The Company, excluding Modern, added 14 new clients in Q3. The business mix has remained the same in comparison with Q2 of FY07. In comparison with Q3 of FY06, products revenue share decreased from 18% to 13% and engineering services has increased from 6% to 10%. European share of business showed a 6% increase over Q2, primarily due to peak load on a European PLM project. Offshore revenue as a percentage of total services revenue remained at 68%. Revenue from software product companies comprised 40% of the total, and industrial customers contributed 47% of revenues.
The Company had 1931 employees on its rolls as of Q3, a 10% increase over Q2. Including Modern, the total number of employees was in excess of 2400. Annualized attrition (excluding Modern Engineering) came down from 23% to 20% from Q2. Utilization including trainees reduced from 87% to 84% and from 92% to 91% excluding trainees. Attrition in Modern Engineering was negligible.
Highlights for the quarter:
- Modern Engineering became a subsidiary of Geometric Inc. with effect from 1st November, 2006. For the two months ending December 2006, Modern’s operating revenue was USD 5.6 Million and Profit After Tax was USD 0.09 Million. The CAE solutions business in Engineering, introduced in Q2, has seen increased traction particularly among automotive customers in the US and Asia Pacific.
- The PLM business recorded an increase in revenue from direct selling to industrial customers and won 3 major projects in Europe. The PLM business also successfully delivered the beta version of a large PLM program for an industrial customer, aimed at reducing design time cycle by over 30%.
- Geometric added new service offerings of technical support and documentation to its portfolio of offerings to software product companies. The ODC with a major software product company completed one year of operations and recorded strong growth.
About Geometric Software Solutions
Geometric Software Solutions Company Limited is a leading company in the fast growing engineering services and PLM segment. Geometric is a CMMI Level 5 company with over 20 years of experience in CAD/CAM/CAE, PDM and MPM. Partnerships with major PLM vendors such as Dassault Systèmes, UGS PLM Solutions, and MatrixOne offer the unique advantage of providing cost effective services on leading PLM platforms. Geometric offers services based on SolidWorks, CATIA™, ENOVIA™, DELMIA™, eMatrix™, Teamcenter Enterprise (Metaphase) ™, Windchill™, and other leading CAD/CAM/CAE/PDM software platforms. TekSoft, Inc., a subsidiary of Geometric, is a leading developer and supplier of innovative, automated CAD/CAM software solutions for the manufacturing industry. The company is traded on both the Bombay (BSE) and the National (NSE) stock exchanges in India. The company’s Web site is http://www.geometricsoftware.com/
All trademarks mentioned above are the property of their respective owners.
For more information please contact: Sheetal Mehta, Corporate Marketing & Communications, Geometric Software Solutions Co. Ltd. At +91-022-6705 6500 / 6934
Email: corporate.marketing@geometricsoftware.com
January 15th, 2007