Ajel Infotech Limited

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BSE Code: 530713       NSE Code: AJEL

Business Profile
Business Profile
Choksh Infotech (CHOKSHIN), incorporated in 1994, offers business process outsourcing (BPO) services. Earlier known as Choksh Securities Company, it got its present name on Nov. 13, 1997.

The company has revamped its business with the acquisition of Ajel Technologies India and its subsidiary in USA, Ajel Technologies Inc. This has enhanced capabilities in software development, system integration and outsourcing. It has infrastructure to offer BPO services and is targeting non-voice areas including medical billing, financial accounting and related international projects.

The registered office is located at 106, Mhada Commercial Complex, Oshiwara, Jogeshwari (West), Mumbai-400102.

Financials
Choksh Infotech registered a profit of Rs 21.02 million for the year ended March 2008.
It recorded a net sales of Rs 1,059.01 million for the year ended March 2008.
Total income was Rs 1,065.85 million for the year ended March 2008.
The earnings per share of the company stood at Rs 4.15 for the year ended March 2008.

Recent Developments
16-MAY-08
On May 15, 2008, the shareholders approved further issue of shares on preferential basis to Arikatla Srinivasa Reddy and his relatives.

15-APR-08
On Apr. 12, 2008, the board of directors approved the issue of equity shares on preferential basis to all the existing shareholders of Ajel Technologies India (ATIPL) on share swap basis. All the existing shareholder's will exchange their existing 750,000 equity shares of ATIPL for the fresh 7,150,000 shares being issued by Choksh Infotech on an exchange ratio of 143 shares of the company for every 15 shares held in ATIPL. In view of this transaction, Choksh Infotech will own 100% of Ajel Techlogies India and its wholly owned subsidiary in USA Ajel Technologies Inc. By virtue of this share swap model, Srinivasa Reddy Arikatla will become the major shareholder of Choksh Infotech, post allotment, and hence will go through the SEBI Takeover guidelines in this regard.

Future Plans
Choksh Infotech is fully geared up to meet the demand in the BPO section mainly into non-voice area. The company is targeting medical billing, financial accounting and related international projects. It is ready to commit resources only on agreement for business on long-term basis with an assured return.

Other Information
Annual Reports for Ajel Infotech Limited
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2013-14
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