Glodyne Technoserve Limited
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BSE Code:
532672
NSE Code:
GLODYNE
Business Profile
Business Profile
Glodyne Technoserve (GLODYNE) is a Mumbai-based software solutions and IT services provider. It was incorporated as a private limited company on Dec. 05, 1997 and converted into a public limited company on Sep. 28, 2004. Earlier known as Paradyne Infotech, it got its present name with effect from Nov. 08, 2007.
Application software services are offered by the company such as application development and maintenance, business process outsourcing, customer relationship management, enterprise application integration, technical consultancy and application-led business process re-engineering services. Technology infrastructure management services include facilities management, remote management, disaster recovery management, networks management, maintenance, application management, database management, server management, storage management, and security management services. These products and services cater to a wide range of industries such as banking and financials, education and research, telecom and ISPs, manufacturing and retail.
Strategic relationships have been established with Oracle, Sun Microsystems, IBM, Cisco System Inc., Acer, Microsoft and SAP. The company has six subsidiary companies including Glodyne Technoserve Inc., Glodyne Technoserve East Inc., Smaarftech Technologies, Intercon Management Services, Glodyne Technoserve Singapore, and the recently acquired Front Office Technologies -a US-based technology IMS company. In FY08, Smaarftech Technologies signed an agreement with Bihar State Electronics Development Corporation (BSEDC) - Govt. of Bihar for executing a turnkey Technology Project worth Rs 2,840 million for implementation of National Rural Employment Guarantee Scheme in the state of Bihar.
Recent awards include being ranked 173 among the Top 1000 corporate giants in India according to a survey by Business Standard and winner of the Deloitte Technology Fast 500 in Asia Pacific for the year 2007, the second time in the last three years. With its technology IMS center in Mumbai, software development center in Navi Mumbai and offices in Mumbai, Pune, Bangalore, Indore, New Delhi, Chennai, Ranchi, and USA, the company caters to clients such as Globus stores, ONGC, NABARD, SIDBI, Idea and MTNL among others.
The registered office is at 801, Balarama Building, Bandra-Kurla Complex, Bandra (E), Mumbai-400051.
Financials
On a standalone basis, Glodyne Technoserve registered a 200 times growth in net profits to Rs 177.02 million for the quarter ended September 2008 from a profit of Rs 88.38 million for the quarter ended September 2007.
Net sales rose 64.4% to Rs 1,118.94 million for the quarter ended September 2008 from Rs 680.64 million for the quarter ended September 2007.
Total income rose 67.02% to Rs 1,136.97 million for the quarter ended September 2008 from Rs 680.736 million for the quarter ended September 2007.
The earnings per share (EPS) of the company stood at Rs 15.94 for the quarter ended September 2008.
On a consolidated basis, the company registered a net profit of Rs 192.31 million for the quarter ended September 2008.
It recorded a net sales of Rs 1,215.86 million for the quarter ended September 2008.
Total income was Rs 1,230.77 million for the quarter ended September 2008.
Recent Developments
30-SEP-08
On Sep. 29, 2008, the shareholders increased the borrowing limits of the board of directors to Rs 7,500 million and approved the investment in the company by foreign institutional investors upto 49% of the paid-up equity share capital of the company.
15-SEP-08
Through its subsidiary, Smaarftech Technologies, the company has signed an agreement with Bihar State Electronics Development Corporation - Govt. of Bihar for executing a turnkey technology project worth Rs 2,840 million for implementing National Rural Employment Guarantee Scheme in the state of Bihar. Smaarftech is the lead member of the consortium also consisting of Face Technologies - a South African Government owned, leading technology company in identity management solutions, and Anil Printers. The order is a BOOT project to be executed over a period of five years and would involve technology infrastructure management and smard card solution management.