FIRSTOBJECT TECHNOLOGIES LTD
Add to watch list to get report alerts
BSE Code:
532379
NSE Code:
FIRSTOBJ
Business Profile
Business Profile
IQMS Software (IQMS), incorporated in the year 2000, provides intelligent and cost effective business enterprise solutions.
The company delivers end-to-end solutions on various platforms. It has developed solutions for medical reconciliation; distribution, container, and school management; and HR4All, a human resource management system. Its technology services cover enterprise application development and integration, porting/migration of software applications, and gaming applications; data management systems including data migration, conversion and consolidation; courseware and learning management systems; SQA and testing services, compliance certification; 2D and 3D animation and multimedia works; and enterprise information infrastructure with security, storage, networking, computing and high availability.
Q Zone TM is a complete system house for providing consulting, production and delivery center facilities for various ITES and BPO services. The KPO division provides equity research services to various reputed institutions in India and abroad. The company addresses the needs of the educational fraternity with its flexible e-learning solutions termed as S-Learn.
Recent orders include the USD 1.5 million contract to be executed over a span of 12 months to develop software for office enterprise resource planning on-site jobs in Philippines; an order for USD 1 million for onsite consulting work in USA through its subsidiary Trac Tel Solutions Inc. USA; and a contract for the outsourcing of 35-seater equity research on 24X7 basis. The board of directors has approved acquisition of 51% stake in Object Xperts Inc, USA, with whom the company currently has a strategic alliance. Offices are located at Hyderabad and Kuala Lumpur in Malaysia.
The registered office is located at H No 7-1-34, 1st Floor, Ameerpet, Sridevi Mansion, Shyam Karan Road, Hyderabad-500016, Andhra Pradesh.
Financials
On a standalone basis, IQMS Software registered a profit of Rs 4.7 million for the year ended March 2008.
It recorded a net sales of Rs 96.21 million for the year ended March 2008.
Total income was Rs 96.21 million for the year ended March 2008.
The earnings per share of the company stood at Rs 0.02 for the year ended March 2008.
On a consolidated basis, the company registered a profit of Rs 63.97 million for the year ended March 2008.
It recorded a net sales of Rs 216.68 million for the year ended March 2008.
The earnings per share of the company stood at Rs 0.17 for the year ended March 2008.
Recent Developments
24-APR-08
IQMS Software has revealed that the company has managed to achieve a multi fold growth in its consolidated operations, with its increased focus on On-Site and Off-Shore Projects. The offshore activities substantially improved with the commencement of its knowledge process outsourcing (KPO) division at Hyderabad in the last quarter of 2007-2008. During the current quarter to give Philip to its KPO division the company plans to tap various universities in Andhra Pradesh and other states for its KPO manpower requirements. The operations on the offshore front are expected to stabilize during the 1st quarter of 2008-2009.
On the on-site front, the company`s subsidiary has its presence in USA through associations with leading telecom companies. The company subsidiary provides solutions for converged prepaid and post paid which includes business control systems comprising of wire line billing and CRM, Multi-Play, IPTV, MVNO, VOIP and central billing systems. During the year 2008-09, the on-site operations are expected to reach to a run rate level of Rs 500 million.
The company as a part and parcel of its in-organic growth model, pipelined couple of over-seas acquisitions for which the financial and legal due diligence is currently taking place. On the offshore front, the company is looking for acquisitions in order to strengthen the domestic revenue model.
17-APR-08
The management of the company has taken a decision to add 20 additional resources to its knowledge process outsourcing services at its Hyderabad facility. Currently, the company has 13 resources working for its KPO services in the financial services area. With the proposed addition the strength is going to increase to 33. The new resources going to be added are expected to commence the work by mid May 2008.
19-MAR-08
The company has procured USD 1 million order for on-site consulting work in USA. The total order has to be executed over a period of next two quarters. The company has secured the order through its subsidiary Trac Tel Solutions Inc., USA, and the job will be implemented through its subsidiary over the next two quarters. The nature of job involves solutions for converged prepaid and post paid which includes business control systems comprising of wire line billing and CRM, Multi-Play, IPTV, MVNO, VOIP and Central Billing Systems.
28-JAN-08
On Jan. 25, 2008, the board of directors considered and approved the following:
-Approved acquisition of 51% stake in Object Xperts Inc, USA, with whom the company currently has a strategic alliance.
- Approved the forfeiture of partly paid shares numbering 852,010, and the board had differed the decision to re-issue the same.
14-JAN-08
The company has bagged a contract for the outsourcing of 35 seater equity research on 24X7 basis. The contract value is directly linked to the output of the research work churned by the company. To meet the requirement, the company has already started the recruitment process for equity research analysts to be stationed at its state of the art center located at Hyderabad. The equity research outsourcing set up by the company is going to cater to the requirements of financial institutional investors, foreign investors and mutual funds. The ERO is getting equipped to do the trend tracking of world markets, indian markets, sectoral analysis, fundamental and technical analysis in all the active sectors of the markets. The technical know-how for the operations is supported by Mumbai based leading equity research firm Firstcall India Equity Advisors.
09-JAN-08
IQMS Software announced today the completion of acquisition of 51% stake in Tractel Solutions, USA. Tractel is a mid-size telecom solutions company with its focus on on-site and offshore works spread across North America and India. The company has well reputed clientele like Bell South and AT&T in USA. The 51% stake acquisition is going to provide inroad for the company in North American Markets for the telecom vertical. Tractel for the year ended Mar. 31, 2007 has achieved a top line of USD 4.25 million and is expected to grow at 25% during 2007-08.
Future Plans
The company has planned a project that is to be taken up from the Airport Authority of Indonesia.