IKF Technologies Ltd
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BSE Code:
532414
NSE Code:
Business Profile
Business Profile
IKF Technologies (IKFTECH), incorporated on Feb. 22, 2000, is engaged in the field of bio fuel and provides telecom, IT software development, business process outsourcing (BPO) and application maintenance services. Earlier known as IKF Software, it got its present name on Jul. 05, 2001.
The company produces bio fuel from extracted oils of the jatropa seed with plantations in Shillong, Meghalaya. It has contract farming agreements across 14 states and strives to multiply the jatropha plant through tissue culture and development of new heterogeneous catalysts and a state-of-the-art 2 TPD biodiesel production unit capable of producing biodiesel from multi-feed stocks. The company has a five-year technology transfer agreement with Indian Oil Corporation, joint venture agreements with Thailand`s Kiwin and Kondanna groups for jatropha plantations in Thailand and India, and with Salampuria Agrotech for bio fuel activity in Jharkhand. A bipartite contract agreement with the Forest Development Corporation of Meghalaya has brought 30,000 acres under jatropha cultivation. The Indian Council of Agricultural Research provides technical knowhow for jatropha cultivation in the Northeastern Himalayan region.
The IKG Global Phone Card and IKF India Card signaled the company`s entry into the telecom sector with operations being run from Noida, Uttar Pradesh. IKF Telecom Inc. in Delaware, USA has been incorporated to expand international business and the company has carrier service agreements with Eficom Telecommunications, GmbH & Co. KG, Germany for the Indian market. The Kolkata-based software division provides innovative IT solutions and software projects development services. The BPO services form a major part of the company`s export earnings with services being provided to clients in USA, Europe, Asia and Australia. Abundance International, IKF Technologies, IKF Green Fuels, and IKF Telecom (USA) are subsidiary companies.
The registered office of the company is located at Rashmi Main Building, Plot No XI-16, Salt Lake Electronics Complex Sc-V, Kolkata-700091.
Financials
On a standalone basis, IKF Technologies registered a 6.19% growth in net profit to Rs 5.83 million for the quarter ended December 2007 from a profit of Rs 5.49 million for the quarter ended December 2006.
Net sales increased 2.54 times to Rs 65.62 million for the quarter ended December 2007 from Rs 25.83 million for the quarter ended December 2006.
Total income rose 152.51% to Rs 65.83 million for the quarter ended December 2007 from Rs 26.07 million for the quarter ended December 2006.
On a consolidated basis, the company registered a profit of Rs 34.62 million for the quarter ended December 2007.
It recorded a net sales of Rs 368.49 million for the quarter.
Total income was Rs 369.33 million for the quarter ended December 2007.
Recent Developments
19-MAY-08
IKF Technologies entered into an agreement with Reliance Web Store to procure, provide voice and non voice business projects to BPOs from the Reliance locations pan India. This will enable the company to spread its network in whole India.
05-MAY-08
On Apr. 30, 2008, the board of directors allotted 30 million warrants convertible to equal number of equity shares of Re 1 each at a premium of Rs 11 to the entities within the non-promoters group subject to lock in period till Apr. 29, 2009.
30-JAN-08
On Jan. 30, 2008, the board of directors approved an investment of Rs 200 million in IKF Green Fuel.
Future Plans
The company is expanding its business of biofuel in the state of Gujarat, Rajasthan, Mehgalaya, Chattisgarh and other states in India. It is proposed to purchase land for plantation of Jatropha and also to set-up Bio-diesel refinery plant of a capacity of 1,00,000 tonnes per annum for the production of Biofuel in Gujarat.