Geodesic Limited
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BSE Code:
503699
NSE Code:
GEODESIC
Business Profile
Business Profile
Geodesic Information Systems delivers information technology solutions to customers and develops innovative products. The company was founded in April 1999, and in the year 2000 taken over by BV Holding and got its current name.
The company provides portals and publishing houses with Mundu, IMaround and Adept messaging platform which enable the user to communicate effectively. Mundu products successfully combine AIM, Google Talk, ICQ, MSN, Mundu and Yahoo with deep content collaboration across the Internet, wireless devices and platforms. Products offered are the Mundu web content aggregator, Mundu universal instant messenger for desktop and palm devices, self service ad management system (ADePT), Mundu universal instant messenger for Symbian Pocket PC, Blackberry and Linux, Mundu internet radio for the palm, Mundu Speak (VoIP on windows mobile), palm and symbian across GPRS and WiFi (a world first), and Mundu IM referral (word-of-mouth marketing). Company has launched the latest version 4.0 of its product Mundu IM, a mobile instant
messaging product.
Currently, there are more than six million users through associate sites, system integrators and partners using these products. The company also caters to middleware application companies, financial, insurance, and non-banking financial companies, broking houses, exchanges, enterprises and corporations. Recently the company was awarded the inaugural Red Herring Small Cap 100 award. Engage Solutions, Hong Kong and Clangula IT of Sweden are subsidiaries. It is to acquire upto 100% of Chandamama India in 2007.
Geodesic has also set up offices in the US, UK, Sweden and Hong Kong with headquarters in Mumbai, India. The registered office of the company is at B3, Lunic Industries, Cross Road No 6, MIDC, Andheri (East), Mumbai-400093.
Financials
Geodesic Information Systems registered a 110.04% growth in net profit to Rs 304.51 million for the quarter ended June 2007 from a profit of Rs 144.98 million for the quarter ended June 2006.
Net sales rose 69.91% to Rs 566.58 million for the quarter ended June 2007 from Rs 333.46 million for the quarter ended June 2006.
Total income rose 72.66% to Rs 597.13 million for the quarter ended June 2007 from Rs 345.85 million for the quarter ended June 2006.
The earnings per share (EPS) of the company stood at Rs 5.03 for the quarter ended June 2007.
On a consolidated basis, the company registered a profit of Rs 287.2 million for the quarter ended June 2007.
It recorded a net sales of Rs 579.25 million for the quarter.
Total income was Rs 609.88 million for the quarter ended June 2007.
Recent Developments
23-JUL-07
On July 23, 2007, the shareholders transacted the following:
Approved increase of authorized capital from Rs 200 million to Rs 350 million dividend into 150 million equity shares of Rs 2 each and 5 million preference shares of Rs 10 each.
Approved the issue of bonus shares in the ratio of one bonus share for every two shares held.
Authorised the board to issue and allot, in the course of international offerings, securities for an aggregate face value of equity shares of upto 150 million USD.The High Court of Bombay approved the scheme of merger of Picopeta Simputers and edot Solutions India. To reiterate, the board of directors of the company had approved the scheme of merger in its meeting held on Jan. 22, 2007.
07-MAY-07
On May 7, 2007, the board of directors allotted 306,296 equity shares of Rs 2 each fully paid up to shareholders of Chandamama India on preferential basis. Consequently, with effect from May 7, 2007, the issued, subscribed and paid-up equity share capital of the company stands increased to Rs 121,284,898 divided into 60,642,449 equity shares of Rs 2 each.
13-MAR-07
Geodesic Information Systems has launched the latest version 4.0 of its product Mundu IM, a mobile instant messaging product. It is a significant step towards improving the mobile communication. The facilities provided by the Mundu IM are cross-conference friends, colleagues and family across AIM, MSN, Yahoo, Google talk on palm and smartphone platforms.It also provides instant photo and video sharing, sends files and music email notifications etc. Mundu IM V4 supports Palm OS and Windows mobile smartphone platforms. Mundu IM will soon support windows mobile pocket PC and Symbian series 60 platforms.