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Friday, April 05, 2013

Geodesic Ltd: Some Positive Announcements on the Cards
FINANCIAL HIGHLIGHTS FOR FY 2013, SECOND QUARTER ENDED DECEMBER 31st, 2012:
  • Geodesic reported revenues of Rs. 222 crore for Second quarter ended Dec 31st, 2012
    .
  • Geodesic reported earnings of Rs. 9.83 crore for the Second quarter ended Dec 31st, 2012.
  • EPS stood at Rs. 1.09 for the Second quarter ended Dec 31st, 2012.

OPERATIONAL HIGHLIGHTS FOR FY 2013, SECOND QUARTER ENDED DECEMBER 31st, 2012:

  • In continuation to our ongoing initiative to make the company financially stronger, Geodesic continued to reduce its exposure to customers whose payment cycles have been affected/ stretched.
  • Geodesic has witnessed increase in sales during the said quarter and is a reflection of our strategy to reduce inventory and broadly expand across various industry segments.
  • As part of our continued strategy, Geodesic has signed on new partners to consolidate business and ensure revenue growth.
  • As part of our prudent policy, we have written off a sum of Rs. 25 crore towards bad and doubtful debts. However the Company continues to explore all avenues to recover the same. These would be written back if we receive the money from our Debtors.
  • Our inventory recorded as of June 30th, 2012 has gone down by 30%.
  • Geodesic is in talks with the Bondholders and is currently working on consolidating its subsidiaries and accounts to ensure faster redemption of the Foreign Currency Convertible Bonds.
NEW PRODUCT LAUNCHES:
  • Geodesic launched new versions of Geoamida including a 7” touch screen device. This device can be
    used as table top/mobile point of sale terminal.
  • Geodesic launched a new enterprise grade secure messenger for the desktop and various mobile platforms including Blackberry, Windows Android and iOS.
  • New versions of entertainment products including Mundu Radio and TV were launched with social networking features on various platforms including Nokia Asha series.
CUSTOMERS AND PARTNERS:
  • Financial inclusion sector has seen a strong revival, especially after the Government’s announcement of the ambitious direct cash transfer. We have already seen a rise in orders for GeoAmida and we believe it will boost sales of GeoAmida in the coming Quarters.
  • Several Banks including Bank of India, Saptagiri Grameen Bank, Pallavan Grameen bank and Wainganga Grameen Bank have signed contracts with Geodesic for implementing GeoAmida based solutions.
  • Airtel signed an agreement with Geodesic to develop an inwards good management system for the construction industry based on GeoAmida.
  • Geodesic has received pilot order from mpay4u, a UK based company for GeoAmida based sales and billing terminals.
  • Our Automated Cluster Meter Reading solution has found great acceptance with utility companies across various states in India.
  • Mundu TV added 300,000+ users during the last quarter.