Spanco Limited
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BSE Code:
508976
NSE Code:
SPANCO
Business Profile
Business Profile
Spanco Telesystems and Solutions (SPANCO), incorporated in 1983, is a telecom systems integration and information technology (IT) services company. Earlier known as Kadambari Leasing, it got its present name on Dec. 17, 1999.
The SEI CMMI Level 3 and an ISO 9001:2000 certified company provides telecom integration services; business process outsourcing (BPO) and radio frequency identification (RFID) based solutions. The telecom division provides solutions in network and system integration, offshore software development and custom application development and maintenance. Spanco GKS is a leading provider of contact center, telecom system integration, BPO services, and IT services in the Middle East.
SkandSoft Technologies, a recently acquired subsidiary of the company, is engaged in developing RFID-based solutions under an integrated information management system. Its flagship product, SETU, is among the top automatic identification and data capture middleware platforms in the world. Spanco Respondez Services (International), a step-down subsidiary, has taken over Respondez, the company`s global contact center and international business process outsourcing division while Spanco BPO Services, another step-down subsidiary, will handle the domestic call center operations.
In alliance with BSNL, the company obtained a license in 2006 to operate the various passenger and tourism information services on behalf of Indian Railways over the next 10 years. Recent contracts include a system integration project to connect jails and courts in Haryana through video conferencing from Haryana State Electronics Development Corporation valued at Rs 137.5 million and an eSeva contract from the Andhra Pradesh Government in the Hyderabad, Secundrabad and Ranga Reddy districts for a period of five years. Spanco Global Solutions, Spanco Great IT and Spanco (UAE) and Spanco Europe (UK) are the other subsidiaries. Eight regional offices and over 60 service and support facilities provides services across the country. Internationally, the company has presence in the US, UK, UAE and Singapore.
The registered office is located at B-22, Krishna Bhavan, B.S. Deoshi Marg, Deonar,
Mumbai-400088.
Financials
The company reported a steep drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 88.86% to Rs 16.05 million from Rs 144.11 million in the same quarter last year. Net sales for the quarter declined 7.64% to Rs 1739.03 million, while total income for the quarter dipped 8.06% to Rs 1739.03 million, when compared with the prior year period. It posted earnings of Rs 0.78 a share during the quarter, registering 88.83% decline over previous year period.
Recent Developments
17-MAR-09
The board of directors has approved the proposal for fund raising of Rs 500 million for long term working capital requirements of the company.
07-OCT-08
The company has announced that it has through its wholly owned subsidiary (WOS), Spanco Group has entered into a joint venture (JV) with Spice group.
18-AUG-08
The company has bagged Rs 700 milllion contract from Orissa government to roll out of a state wide area network (SWAN) across the state of Orissa.