Press release from Business Wire India
Source: Blue Star Infotech Ltd
Friday, July 31, 2009 11:41 AM IST (06:11 AM GMT)
Editors: Business: Advertising, PR & marketing, Business services, Healthcare, biotechnology & pharmaceutical, Information technology; Technology; Healthcare
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Blue Star Infotech Implements NAV Elixir for Pharmaceutical Major, Indoco Remedies
Mumbai, Maharashtra, India, Friday, July 31, 2009 -- (Business Wire India) -- Blue Star Infotech, a global provider of IT Solutions and Services and a winner of 2008 Microsoft Dynamics President's Club Award and Best Partner - India Western Region for Vertical Solution Excellence, announced today that it had successfully implemented NAV Elixir for Indoco Remedies, a multi- location pharmaceutical company. BSI's NAV Elixir is a customized ERP solution built by extending the Microsoft Dynamics product suite and specially designed for the Pharmaceutical industry.
Indoco Remedies is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in India. The company caters to the regulated and semi-regulated domestic market.
On the solution going live, Mr. Sundeep V. Bambolkar, Director (Finance & Operations), Indoco Remedies Ltd. said "Blue Star Infotech's past experiences and their integrated ERP customized for the pharmaceutical industry enabled us to quickly implement an integrated platform and leverage industry best practices."
According to Satish Gaonkar, Vice President-Consulting Services, "We created the NAV Elixir product based on our deep experience in the Pharma industry. The NAV Elixir solution addresses the relevant compliance features for cGMP and at the same time keeps the processes simple by leveraging on the simplicity of Navision. We are upbeat on our solution as it is the right fit for pharmaceutical comapnies that provides adequate compliance features as well as brings down the TCO."
About Indoco Remedies
Indoco Remedies is engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs) in India. Indoco has a strong international presence in the regulated and ROW (Rest of the World) markets. The Company is catalyzing its growth through investments in a dedicated Research & Development facility and by enhancing its manufacturing capabilities. Indoco today, has a well-built brand portfolio of 135 products in various therapeutic segments, including high growth life style segments such as Anti-Diabetics, Cardiovascular, Central Nervous System, Musculo-Skeletal, Nutrition and Dental care.
Indoco has built a visible presence across all it's markets in Europe, USA, Asia, Africa, Latin America and other CIS countries. A number of its products have emerged as brand leaders in the Indian and in International markets. Indoco has made significant investments to build capabilities in API manufacturing and R & D services to enhance its visibility. As of today, the company operates in over 35 countries globally for Formulations and APIs.
About Blue Star Infotech
Part of the US$650M Blue Star Group, Blue Star Infotech enables organizations to realize their business goals - by enabling them to eliminate operational inefficiencies and internal constraints through innovative technology and business solutions.
Founded in 1983, it is headquartered in Mumbai, India, with operations in India, USA, Japan, UK and Europe. A Microsoft Gold Certified Partner, BSI is one of the oldest Dynamics partners in India and is currently rated amongst the top 5 in terms of competency and customer base. Its customers within the Pharmaceutical industry include leading companies such as Cipla, Sanofi Aventis, Elder Pharmaceuticals, Sun Pharmaceuticals & Unichem Laboratories.
About Microsoft Dynamics
Microsoft DynamicsT is a line of financial, customer relationship and supply chain management solutions that help businesses work more effectively. Delivered through a network of channel partners providing specialized services, these integrated, adaptable business management solutions work like and with familiar Microsoft software to streamline processes across an entire business.
About NAV Elixir
Blue Star Infotech's NAV Elixir, a flexible and cost-effective solution, based on Microsoft Dynamics NAV, offers a host of features that include Role-based Usage, Bi-directional Batch Control, Dynamic Potency, Batch Tracking and Interactive Quality Assurance. It also includes the features offered by Microsoft Dynamics, such as integration with Finance, Purchase, Sales and Financial Management.
NAV Elixir, tailored for the Indian pharmaceutical industry, enables pharmaceutical companies to meet their existing operational challenges, gain visibility into the supply chain and generate a faster ROI.
CONTACT DETAILS
Payal Jaiswal, Corporate Communications, Blue Star Infotech Ltd, +91 98336 61366, mbs@bsil.com
KEYWORDS
MARKETING, BUSINESS SERVICES, HEALTHCARE, IT, TECHNOLOGY, HEALTHCARE, BLUESTINFO.BO
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Friday, July 31, 2009
BWI: Brickwork Ratings Assigns “BWR AA+” for Yes Bank Limited’s Hybrid Tier I and Upper/Lower Tier II Bonds Issue of INR 5.35 billion
Press release from Business Wire India
Source: Brickwork Ratings
Friday, July 31, 2009 11:16 AM IST (05:46 AM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Stock exchanges
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Brickwork Ratings Assigns "BWR AA+" for Yes Bank Limited's Hybrid Tier I and Upper/Lower Tier II Bonds Issue of INR 5.35 billion
Issue Rating: BWR AA+; Outlook: Stable
Bangalore, Karnataka, India, Friday, July 31, 2009 -- (Business Wire India) -- Brickwork Ratings has assigned BWR AA+ (Outlook: Stable) for Yes Bank's proposed Hybrid Tier I bonds issue of INR 0.85 billion and Upper/Lower Tier II bonds issue of INR 4.50 billion. The rating factored increasing operating profits & returns, adequate asset quality, well diversified credit portfolio, strong capital ratio, lean operating structure, and promoters' stake. The rating also factored low CASA deposits, limited network channels, and dependence on bulk deposits.
The bank has performed well during the financial year 2009 in spite of many challenges witnessed in the macro environment front. In line with private sector banks, Yes bank has benefited largely from its fee income, pricing power on corporate loan book and repricing of interest sensitive liabilities during the year. As a result, the bank has improved its operating and net profits by 50.7% and 51.9% respectively to reach a level of INR 5.27 billion (INR 3.50 billion in FY08) and INR 3.03 billion (INR 2.00 billion in FY08) during the year. Similarly, the bank's net interest income has increased significantly during the year to achieve a level of INR 5.11 billion from the previous level of INR 3.30 billion.
Yes Bank has the highest capital adequacy ratio amongst its peers as on 31st March 2009. The bank's CRAR under Basel II was 16.63% higher than its peers' average of 14.44% as on 31st March 2009. The bank added INR 10.6 billion of capital in the form of Hybrid Tier I ,Tier II and retained earnings during FY09, taking the bank's total capital funds from INR 20.72 billion in FY08 to INR 30.67 billion in FY09. The CRAR is expected to improve further with the proposed issue of Hybrid Tier I and Upper/Lower Tier II bonds issue of INR 5.35 billion.
During FY09, the bank's asset quality has declined marginally. As a result, the bank's gross NPAs have increased from 0.11% in FY08 to 0.68%. Net NPAs have increased from 0.09% to 0.33%. However, the bank's gross and net NPAs are lower than the peer group average by 171 bps and 80 bps respectively. Majority of the bank's rated corporate loans have received credit rating of 'A' and above.
During FY09, the bank's net interest margin was 11 bps higher than peers' average. Similarly, the bank's ROA is significantly higher (39 bps) than peers' average of 1.13%. Further, the bank's cost to income ratio had come down to 42.7% in FY09 from 49.4% in FY08. As a result, the bank's cost to income ratio is significantly (5.86%) lower than its peers' average of 48.56%.
The bank's composition of low-cost deposits to total deposits stood at 8.73%, which is considerably lower than peers' average of 25.78% during the year. Consequently, the bank has the highest cost of deposits among its peers as on 31st March 2009. However, the bank's yield on advances is comparatively higher (44 bps) than its peers' average of 11.55%.
Brickwork calculates leverage that assesses bank's capital adequacy with reference to both on and off balance sheet exposures. Yes Bank's lower leverage of 13.92 (14.92 in FY08) is positive rating factor compared to its peer groups' leverage of 19.51 in FY09. The bank is expected to sustain its envisaged growth plan during the current financial year with improved performance in mobilizing low cost deposits, technology driven banking operations and appropriate risk management practices.
Copyright ©, 2009, Brickwork Ratings.
Brickwork Ratings has assigned the rating based on the information obtained from issuer and other reliable sources, which are deemed to be accurate. Brickwork has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented "as is" without any express or implied warranty of any kind. Brickwork does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by Brickwork should be treated as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. Brickwork has the right to change, suspend or withdraw the ratings at any time for any reasons.
CONTACT DETAILS
Dr. A Suresh Kumar, Lead Analyst Contact, Brickwork Ratings, +91 (80) 40409940, suresh.kumar@brickworkratings.com
Jubin Pandey, Co-Analyst Contact, Brickwork Ratings, +91 (80) 40409940, jubin.p@brickworkratings.com
Anitha G, Media Contact, Brickwork Ratings, +91 (80) 40409940, media@brickworkratings.com
K N Suvarna, Sr. VP - Business Development, Relationship Contact, Brickwork Ratings, +91 (22) 24304902, kn.suvarna@brickworkratings.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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Source: Brickwork Ratings
Friday, July 31, 2009 11:16 AM IST (05:46 AM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Financial Analyst, Stock exchanges
--------------------------------------------------
Brickwork Ratings Assigns "BWR AA+" for Yes Bank Limited's Hybrid Tier I and Upper/Lower Tier II Bonds Issue of INR 5.35 billion
Issue Rating: BWR AA+; Outlook: Stable
Bangalore, Karnataka, India, Friday, July 31, 2009 -- (Business Wire India) -- Brickwork Ratings has assigned BWR AA+ (Outlook: Stable) for Yes Bank's proposed Hybrid Tier I bonds issue of INR 0.85 billion and Upper/Lower Tier II bonds issue of INR 4.50 billion. The rating factored increasing operating profits & returns, adequate asset quality, well diversified credit portfolio, strong capital ratio, lean operating structure, and promoters' stake. The rating also factored low CASA deposits, limited network channels, and dependence on bulk deposits.
The bank has performed well during the financial year 2009 in spite of many challenges witnessed in the macro environment front. In line with private sector banks, Yes bank has benefited largely from its fee income, pricing power on corporate loan book and repricing of interest sensitive liabilities during the year. As a result, the bank has improved its operating and net profits by 50.7% and 51.9% respectively to reach a level of INR 5.27 billion (INR 3.50 billion in FY08) and INR 3.03 billion (INR 2.00 billion in FY08) during the year. Similarly, the bank's net interest income has increased significantly during the year to achieve a level of INR 5.11 billion from the previous level of INR 3.30 billion.
Yes Bank has the highest capital adequacy ratio amongst its peers as on 31st March 2009. The bank's CRAR under Basel II was 16.63% higher than its peers' average of 14.44% as on 31st March 2009. The bank added INR 10.6 billion of capital in the form of Hybrid Tier I ,Tier II and retained earnings during FY09, taking the bank's total capital funds from INR 20.72 billion in FY08 to INR 30.67 billion in FY09. The CRAR is expected to improve further with the proposed issue of Hybrid Tier I and Upper/Lower Tier II bonds issue of INR 5.35 billion.
During FY09, the bank's asset quality has declined marginally. As a result, the bank's gross NPAs have increased from 0.11% in FY08 to 0.68%. Net NPAs have increased from 0.09% to 0.33%. However, the bank's gross and net NPAs are lower than the peer group average by 171 bps and 80 bps respectively. Majority of the bank's rated corporate loans have received credit rating of 'A' and above.
During FY09, the bank's net interest margin was 11 bps higher than peers' average. Similarly, the bank's ROA is significantly higher (39 bps) than peers' average of 1.13%. Further, the bank's cost to income ratio had come down to 42.7% in FY09 from 49.4% in FY08. As a result, the bank's cost to income ratio is significantly (5.86%) lower than its peers' average of 48.56%.
The bank's composition of low-cost deposits to total deposits stood at 8.73%, which is considerably lower than peers' average of 25.78% during the year. Consequently, the bank has the highest cost of deposits among its peers as on 31st March 2009. However, the bank's yield on advances is comparatively higher (44 bps) than its peers' average of 11.55%.
Brickwork calculates leverage that assesses bank's capital adequacy with reference to both on and off balance sheet exposures. Yes Bank's lower leverage of 13.92 (14.92 in FY08) is positive rating factor compared to its peer groups' leverage of 19.51 in FY09. The bank is expected to sustain its envisaged growth plan during the current financial year with improved performance in mobilizing low cost deposits, technology driven banking operations and appropriate risk management practices.
Copyright ©, 2009, Brickwork Ratings.
Brickwork Ratings has assigned the rating based on the information obtained from issuer and other reliable sources, which are deemed to be accurate. Brickwork has taken considerable steps to avoid any data distortion; however, it does not examine the precision or completeness of the information obtained. And hence, the information in this report is presented "as is" without any express or implied warranty of any kind. Brickwork does not make any representation in respect to the truth or accuracy of any such information. The rating assigned by Brickwork should be treated as an opinion rather than a recommendation to buy, sell or hold the rated instrument and BWR shall not be liable for any losses incurred by users from any use of this report or its contents. Brickwork has the right to change, suspend or withdraw the ratings at any time for any reasons.
CONTACT DETAILS
Dr. A Suresh Kumar, Lead Analyst Contact, Brickwork Ratings, +91 (80) 40409940, suresh.kumar@brickworkratings.com
Jubin Pandey, Co-Analyst Contact, Brickwork Ratings, +91 (80) 40409940, jubin.p@brickworkratings.com
Anitha G, Media Contact, Brickwork Ratings, +91 (80) 40409940, media@brickworkratings.com
K N Suvarna, Sr. VP - Business Development, Relationship Contact, Brickwork Ratings, +91 (22) 24304902, kn.suvarna@brickworkratings.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, Financial Analyst, STOCK EXCHANGES
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BWI: Essential CRO and Ecron Acunova Form Global Alliance
Press release from Business Wire India
Source: Ecron Acunova
Friday, July 31, 2009 10:57 AM IST (05:27 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Advertising, PR & marketing, Healthcare, biotechnology & pharmaceutical; Healthcare
--------------------------------------------------
Essential CRO and Ecron Acunova Form Global Alliance
Sponsors Gain Access to 18 Countries Across Sectors for Clinical Research
Bangalore, Karnataka, India, Friday, July 31, 2009 -- (Business Wire India) -- Two leading full service contract research organizations (CRO's), Essential CRO and Ecron Acunova today announced the formation of a global strategic alliance to strengthen the service offerings in emerging markets and help customers leverage the convergence of a broad global network. This alliance provides pharmaceutical, biotechnology, device, diagnostic and nutritional sponsors with access to 18 countries in key emerging sectors for clinical research. The alliance network is established through a combination of Essential CRO's presence in Gurnee, Illinois with Ecron Acunova, based in Bangalore, India with its US office in Princeton, NJ and an established presence, headquartered in Frankfurt, Germany, across 14 countries in Europe.
Speaking on the strength of this alliance, Mr. Lee Jones President & CEO of Essential CRO said, "This alliance provides immediate global capability to our sponsors through highly experienced best-in-class operations that have been harmonized between the partners without our undergoing the years or cost of such development independently. Our combined size of 350 employees and corporate cultures of fast, focused, friendly and flexible relationship management ensure that the alliance maintains the ability to meet unique sponsor needs in a timely manner."
Driving advantages of Europe and India, Mr. D A Prasanna, Founder of Ecron Acunova added, "Our strategic alliance adds over twenty years of clinical trial experience of conducting trials for marketing authorizations in the key markets of US and EU and the fast patient recruitment advantage of Central and East Europe and India. Essential's therapeutic database of over 4,500 studies makes its feasibility truly unique, and its global patient recruitment expertise has unmatched results. Further, sponsors see benefit in speedy completion of early development studies with Ecron Acunova's PK/PD, central lab and biometric services under one roof. While both partners offer full-service CRO operations independently, their execution synergy is enhanced when operating together, rivaling the capability of any competing CRO."
Essential and Ecron Acunova have been partners for several years, but the magnitude of project size and positive sponsor feedback on the combined team execution have been instrumental in establishing this alliance. The alliance has passed several international clients QA audits over the past two years reinforcing the quality of execution. In the past six months the alliance has won key global projects in the eight figure range in over 14 countries from leading mid-sized biotech and large pharma sponsors reflecting a winning edge and profitable alliance.
Notes to the Editor:
Essential CRO (www.essentialcro.com) is headquartered in Gurnee, IL. It provides experience-driven CRO and patient recruitment services focused on giving sponsors greater control and success of their programs globally. The organization's two main service offerings of CRO and patient recruitment services are independent, yet fully integrated for maximum efficiency and results for sponsors. These services are based on knowledge refined since its inception in 1994 that renders a unique therapeutic experience database supporting feasibility, study design, customized patient recruitment strategies and clinical trial execution.
Ecron Acunova (www.ecronacunova.com) is headquartered in Bangalore, India with European HQ in Frankfurt, Germany and US HQ in Princeton, NJ.
Ecron Acunova provides end-to-end services for Phase I - IV clinical research, including Clinical Trial Management, Clinical Data Management, PK/PD services and Central Lab with its research centers in Germany and India. Ecron Acunova provides clinical development services to the pharmaceutical, biotechnology, nutritional, device and medical diagnostics industries. The service quality, therapeutic expertise and global reach have allowed Ecron Acunova to grow rapidly, building a list of demanding clients. Ecron Acunova provides an attractive package of services coupled with the ability to rapidly conduct clinical trials utilizing a world class delivery platform. Their staff that includes over 45 MDs and PhDs combines with the long company history, wide geographic presence, extensive patient access, regulatory credibility, quality standards as well as cultural diversity and capabilities of the team accelerate for sponsors, speed-to-market cost effectively.
CONTACT DETAILS
Caroline Redeker for Project inquiries, Essential Group, United States, +1 248-446-1922, credeker@essentialgroupinc.com
Dennis Cavender, EVP & CFO for Essential corporate inquiries, Essential Group, United States, +1 847-855-7507, dcavender@essentialgroupinc.com
Michael Sommer, Ecron Acunova, Europe, +49-69-6680-300, michael.sommer@ecronacunova.com
Dr Krathish Bopanna - PhD, Ecron Acunova, Asia, +91 (80) 66915705, krathish.bopanna@ecronacunova.com
KEYWORDS
CONSUMER, CONSULTANCY SERVICES, MARKETING, HEALTHCARE, HEALTHCARE
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Source: Ecron Acunova
Friday, July 31, 2009 10:57 AM IST (05:27 AM GMT)
Editors: General: Consumer interest; Business: Accounting & management consultancy services, Advertising, PR & marketing, Healthcare, biotechnology & pharmaceutical; Healthcare
--------------------------------------------------
Essential CRO and Ecron Acunova Form Global Alliance
Sponsors Gain Access to 18 Countries Across Sectors for Clinical Research
Bangalore, Karnataka, India, Friday, July 31, 2009 -- (Business Wire India) -- Two leading full service contract research organizations (CRO's), Essential CRO and Ecron Acunova today announced the formation of a global strategic alliance to strengthen the service offerings in emerging markets and help customers leverage the convergence of a broad global network. This alliance provides pharmaceutical, biotechnology, device, diagnostic and nutritional sponsors with access to 18 countries in key emerging sectors for clinical research. The alliance network is established through a combination of Essential CRO's presence in Gurnee, Illinois with Ecron Acunova, based in Bangalore, India with its US office in Princeton, NJ and an established presence, headquartered in Frankfurt, Germany, across 14 countries in Europe.
Speaking on the strength of this alliance, Mr. Lee Jones President & CEO of Essential CRO said, "This alliance provides immediate global capability to our sponsors through highly experienced best-in-class operations that have been harmonized between the partners without our undergoing the years or cost of such development independently. Our combined size of 350 employees and corporate cultures of fast, focused, friendly and flexible relationship management ensure that the alliance maintains the ability to meet unique sponsor needs in a timely manner."
Driving advantages of Europe and India, Mr. D A Prasanna, Founder of Ecron Acunova added, "Our strategic alliance adds over twenty years of clinical trial experience of conducting trials for marketing authorizations in the key markets of US and EU and the fast patient recruitment advantage of Central and East Europe and India. Essential's therapeutic database of over 4,500 studies makes its feasibility truly unique, and its global patient recruitment expertise has unmatched results. Further, sponsors see benefit in speedy completion of early development studies with Ecron Acunova's PK/PD, central lab and biometric services under one roof. While both partners offer full-service CRO operations independently, their execution synergy is enhanced when operating together, rivaling the capability of any competing CRO."
Essential and Ecron Acunova have been partners for several years, but the magnitude of project size and positive sponsor feedback on the combined team execution have been instrumental in establishing this alliance. The alliance has passed several international clients QA audits over the past two years reinforcing the quality of execution. In the past six months the alliance has won key global projects in the eight figure range in over 14 countries from leading mid-sized biotech and large pharma sponsors reflecting a winning edge and profitable alliance.
Notes to the Editor:
Essential CRO (www.essentialcro.com) is headquartered in Gurnee, IL. It provides experience-driven CRO and patient recruitment services focused on giving sponsors greater control and success of their programs globally. The organization's two main service offerings of CRO and patient recruitment services are independent, yet fully integrated for maximum efficiency and results for sponsors. These services are based on knowledge refined since its inception in 1994 that renders a unique therapeutic experience database supporting feasibility, study design, customized patient recruitment strategies and clinical trial execution.
Ecron Acunova (www.ecronacunova.com) is headquartered in Bangalore, India with European HQ in Frankfurt, Germany and US HQ in Princeton, NJ.
Ecron Acunova provides end-to-end services for Phase I - IV clinical research, including Clinical Trial Management, Clinical Data Management, PK/PD services and Central Lab with its research centers in Germany and India. Ecron Acunova provides clinical development services to the pharmaceutical, biotechnology, nutritional, device and medical diagnostics industries. The service quality, therapeutic expertise and global reach have allowed Ecron Acunova to grow rapidly, building a list of demanding clients. Ecron Acunova provides an attractive package of services coupled with the ability to rapidly conduct clinical trials utilizing a world class delivery platform. Their staff that includes over 45 MDs and PhDs combines with the long company history, wide geographic presence, extensive patient access, regulatory credibility, quality standards as well as cultural diversity and capabilities of the team accelerate for sponsors, speed-to-market cost effectively.
CONTACT DETAILS
Caroline Redeker for Project inquiries, Essential Group, United States, +1 248-446-1922, credeker@essentialgroupinc.com
Dennis Cavender, EVP & CFO for Essential corporate inquiries, Essential Group, United States, +1 847-855-7507, dcavender@essentialgroupinc.com
Michael Sommer, Ecron Acunova, Europe, +49-69-6680-300, michael.sommer@ecronacunova.com
Dr Krathish Bopanna - PhD, Ecron Acunova, Asia, +91 (80) 66915705, krathish.bopanna@ecronacunova.com
KEYWORDS
CONSUMER, CONSULTANCY SERVICES, MARKETING, HEALTHCARE, HEALTHCARE
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
Submit your press release at http://www.businesswireindia.com
Thursday, July 30, 2009
BWI: Cranes Software’s Q1 FY10 Consolidated Revenues up 6% to Rs. 1,218 Million, PAT at Rs. 281 Million
Press release from Business Wire India
Source: Cranes Software International Ltd.
Thursday, July 30, 2009 09:11 PM IST (03:41 PM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
--------------------------------------------------
Cranes Software's Q1 FY10 Consolidated Revenues up 6% to Rs. 1,218 Million, PAT at Rs. 281 Million
Bangalore, Karnataka, India, Thursday, July 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its unaudited financial results for the first quarter ended June 30, 2009.
Cranes Software Group's financial performance review:
Corresponding Quarterly Comparison
Q1FY10 (April - June 2009) v/s Q1FY09 (April - June 2008)
-- Total revenues were up 6% to Rs. 1,218 million from Rs. 1,154 million
-- Overseas revenues increased 14% to Rs. 1168 million and constitute 96% of total revenues
-- Domestic revenues at Rs. 50 million for the period under review
-- Operating profit improved by 2% to Rs. 587 million from Rs. 574 million. Operating margins for the quarter at 48%
-- Net profit after tax amounted to Rs. 281 million translating to diluted EPS of Rs. 2.05 for the period under review
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes has started the year on a positive note with revenues increasing 6% to Rs. 1,218 million. The thrust of our strategy that we have been aggressively implementing over the last four quarters is beginning to show results. The key focus of this strategy, includes streamlining our supply chain by consolidating operations across geographies and enhancement of operating efficiencies by devising strict measures to negotiate the recent rise in average collection period. This actions will help mitigate cashflow constrains faced during the quarter. Additionally, the Company is enhancing its interface with customers for direct sale of proprietary products particularly in locations where it has close proximity to direct offices. This has had a two fold effect in that it has further enabled us to reduce the sales cycle as well as led to better management of business. This is one of the reasons why the standalone revenues have declined significantly this quarter.
One of our longest alliance partners, The MathWorks, for which we distributed products such as MATLAB in India, has decided to set-up its direct office in India. Although this has also contributed towards a decline in standalone revenues, the Company has put in further emphasis on the proprietary product sales in India. The demand for our products has improved and the Company has put into place a strong platform that will enable it to leverage the opportunities of an improving environment. We feel this move has helped de-risk our business by reducing the dependency on distribution sales through alliance partnership. Having said that, we will continue to explore the environment to partner with Companies so that we could provide end-to-end solutions to our customers. We have partnered with several other principals such as Siemens, Maple Soft, Lyrtech, in our endeavour to do so."
Acquisitions & Alliances during the quarter under review:
-- Cranes Software's subsidiary, Proland Software, a data security company, entered into a strategic partnership with VirusBuster, a Hungary-based security solutions provider. This alliance will enable Proland to provide a wider selection of data security solutions to its customers, and expand its presence from a predominantly home/single user base to the enterprise/office segments
-- Cranes' subsidiary, Systat Software entered into an agreement with Ohio based Rescentris, to globally offer their joint product, SigmaCERF - an Electronic Lab Notebook (ELN) and knowledge management platform for life science research organizations. While industry experts predict the market for ELN to be one of the fastest technology growth areas, this collaboration will also enable Cranes' SigmaPlot, SigmaStat and Systat customers to source tools that cater to different aspects of their research process from one single reliable source
-- Cranes entered into an alliance with Siemens PLM Software, a business unit of the Siemens Industry Automation Division and a leading global provider of product lifecycle management (PLM) software and services. This partnership will enable Cranes to distribute the full suite of PLM software solutions to its customer base in India, thereby strengthening its position further in the engineering simulations space
-- Cranes has been a strategic partner to CNN-IBN in analyzing the findings of opinion and exit polls as well as analyzing results for elections held both at the State and the Center. In the recently held Lok Sabha elections, the Company used its in house statistical software product SYSTAT for analysis of early trends on the counting day. Dr. Rajeev Karandikar, a well regarded probabilist and statistician who is an Executive Vice President at Cranes with the analytics team collaborated with the CNN-IBN for this exercise.
New Product Launches during the quarter under review:
-- Released ETA/DYNAFORM Version 5.7 - With over 90 new and enhanced features, the latest launch of its powerful die analysis solution, ETA/DYNAFORM Version 5.7 will further address some of the long standing requirements of the Manufacturing and Automobile sectors
-- Released ETA/VPG Version 3.4 with NISA Solver - A finite element modeling software, ETA/VPG Version 3.4 has over 63 new or improved functions and offers an integrated linear static and Eigen value modules from the general purpose FEA software suite NISA, which allows users to easily create and visualize advanced simulations within the ETA/VPG environment
Attached:Results table
About Cranes Software International Limited: www.cranessoftware.com
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, NISA/CIVIL, NISA DesignStudio, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer, Protector Plus, and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Siemens, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Certain statements in this release concerning our growth prospects are forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, including government actions; local political or economic developments; technological risks; risks inherent in the Company's growth strategy; dependence on certain clients; dependence on availability of technical consultants and other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. The Company undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Note to the announcement:
This press release discusses the audited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA), Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH.
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Published Results FY09 Q1[1938].xls
Published Results FY09 Q1[1938].xls
CONTACT DETAILS
Akila Lean, Cranes Software International Ltd., +91 (80) 40789701, akila.lean@cranessoftware.com
Gavin Desa, Citigate Dewe Rogerson, +91 (22) 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 (22) 4007 5036, aditya@cdr-india.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
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Source: Cranes Software International Ltd.
Thursday, July 30, 2009 09:11 PM IST (03:41 PM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Business services, Financial Analyst, Information technology, Stock exchanges; Technology
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Cranes Software's Q1 FY10 Consolidated Revenues up 6% to Rs. 1,218 Million, PAT at Rs. 281 Million
Bangalore, Karnataka, India, Thursday, July 30, 2009 -- (Business Wire India) -- Cranes Software International Ltd. (Cranes), a Company that provides Enterprise Statistical Analytics and Engineering Simulation Software Products and Solutions across the globe, today announced its unaudited financial results for the first quarter ended June 30, 2009.
Cranes Software Group's financial performance review:
Corresponding Quarterly Comparison
Q1FY10 (April - June 2009) v/s Q1FY09 (April - June 2008)
-- Total revenues were up 6% to Rs. 1,218 million from Rs. 1,154 million
-- Overseas revenues increased 14% to Rs. 1168 million and constitute 96% of total revenues
-- Domestic revenues at Rs. 50 million for the period under review
-- Operating profit improved by 2% to Rs. 587 million from Rs. 574 million. Operating margins for the quarter at 48%
-- Net profit after tax amounted to Rs. 281 million translating to diluted EPS of Rs. 2.05 for the period under review
Commenting on the financial results, Asif Khader, Managing Director, Cranes Software International Limited, said:
"Cranes has started the year on a positive note with revenues increasing 6% to Rs. 1,218 million. The thrust of our strategy that we have been aggressively implementing over the last four quarters is beginning to show results. The key focus of this strategy, includes streamlining our supply chain by consolidating operations across geographies and enhancement of operating efficiencies by devising strict measures to negotiate the recent rise in average collection period. This actions will help mitigate cashflow constrains faced during the quarter. Additionally, the Company is enhancing its interface with customers for direct sale of proprietary products particularly in locations where it has close proximity to direct offices. This has had a two fold effect in that it has further enabled us to reduce the sales cycle as well as led to better management of business. This is one of the reasons why the standalone revenues have declined significantly this quarter.
One of our longest alliance partners, The MathWorks, for which we distributed products such as MATLAB in India, has decided to set-up its direct office in India. Although this has also contributed towards a decline in standalone revenues, the Company has put in further emphasis on the proprietary product sales in India. The demand for our products has improved and the Company has put into place a strong platform that will enable it to leverage the opportunities of an improving environment. We feel this move has helped de-risk our business by reducing the dependency on distribution sales through alliance partnership. Having said that, we will continue to explore the environment to partner with Companies so that we could provide end-to-end solutions to our customers. We have partnered with several other principals such as Siemens, Maple Soft, Lyrtech, in our endeavour to do so."
Acquisitions & Alliances during the quarter under review:
-- Cranes Software's subsidiary, Proland Software, a data security company, entered into a strategic partnership with VirusBuster, a Hungary-based security solutions provider. This alliance will enable Proland to provide a wider selection of data security solutions to its customers, and expand its presence from a predominantly home/single user base to the enterprise/office segments
-- Cranes' subsidiary, Systat Software entered into an agreement with Ohio based Rescentris, to globally offer their joint product, SigmaCERF - an Electronic Lab Notebook (ELN) and knowledge management platform for life science research organizations. While industry experts predict the market for ELN to be one of the fastest technology growth areas, this collaboration will also enable Cranes' SigmaPlot, SigmaStat and Systat customers to source tools that cater to different aspects of their research process from one single reliable source
-- Cranes entered into an alliance with Siemens PLM Software, a business unit of the Siemens Industry Automation Division and a leading global provider of product lifecycle management (PLM) software and services. This partnership will enable Cranes to distribute the full suite of PLM software solutions to its customer base in India, thereby strengthening its position further in the engineering simulations space
-- Cranes has been a strategic partner to CNN-IBN in analyzing the findings of opinion and exit polls as well as analyzing results for elections held both at the State and the Center. In the recently held Lok Sabha elections, the Company used its in house statistical software product SYSTAT for analysis of early trends on the counting day. Dr. Rajeev Karandikar, a well regarded probabilist and statistician who is an Executive Vice President at Cranes with the analytics team collaborated with the CNN-IBN for this exercise.
New Product Launches during the quarter under review:
-- Released ETA/DYNAFORM Version 5.7 - With over 90 new and enhanced features, the latest launch of its powerful die analysis solution, ETA/DYNAFORM Version 5.7 will further address some of the long standing requirements of the Manufacturing and Automobile sectors
-- Released ETA/VPG Version 3.4 with NISA Solver - A finite element modeling software, ETA/VPG Version 3.4 has over 63 new or improved functions and offers an integrated linear static and Eigen value modules from the general purpose FEA software suite NISA, which allows users to easily create and visualize advanced simulations within the ETA/VPG environment
Attached:Results table
About Cranes Software International Limited: www.cranessoftware.com
Cranes Software International Limited, through its software products and productized solutions addresses the needs of scientists, engineers, researchers, and decision makers in multinational companies, governments, defence establishments, academia and research institutions in the aerospace, automotive engineering, banking and financial services, bioinformatics, biology, biotech, chemistry, physics, communications, consumer research and marketing, criminological sciences, cryptography, defence, electronics engineering, empirical analysis, engineering, environmental sciences, genetics, geo sciences, life sciences, material characteristics, material sciences, medical research, oil exploration, pathology, psychological research, quality control, remote sensing, signal processing and telecommunications space. While Cranes Software's core areas of operations are Enterprise Analytics, Engineering Design, Simulation and Testing, the company's business interests also include high-end training services and R & D in future technologies.
Cranes Software offers a range of proprietary products - SYSTAT, SigmaPlot, SigmaStat, SigmaScan, TableCurve 2D, TableCurve 3D, PeakFit, NISA, NISA/CIVIL, NISA DesignStudio, eta/VPG, eta/DYNAFORM, XID, XIP, Survey ASYST, iCap Reporter, iCap Webmaster, iCap Dashboarder, iCap Data Primer, InventX, Cubeware Cockpit, Cubeware Team Server, Cubeware Importer, Protector Plus, and world-renowned products from reputed principals such as Livermore Software Technology Corporation, The Mathworks, Texas Instruments, dSPACE, Mentor Graphics, IBM, Siemens, Genomatix Software Inc. and Breault Research. The company also has alliances with Microsoft, BusinessObjects, BEA, Borland, Net Solutions, Anantara, Wipro and Craft Silicon. Cranes Software has a presence in 39 countries (through its direct offices, subsidiaries, channel partners, franchise relationships and other alliances) and has global user base of over 350,000 users.
Certain statements in this release concerning our growth prospects are forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties, including government actions; local political or economic developments; technological risks; risks inherent in the Company's growth strategy; dependence on certain clients; dependence on availability of technical consultants and other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. The Company undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
Note to the announcement:
This press release discusses the audited financial performance of Cranes Software International Limited on a consolidated basis. This includes the performance of its subsidiaries Systat Software Asia Pacific Ltd., Systat Software Inc., USA, Systat Software GmbH., Germany,., Cranes Software Inc., USA, Cranes Software UK Ltd., Cranes Software International Pte. Ltd., Analytics Systems Pvt. Ltd., Tilak Autotech Pvt. Ltd., Dunn Solutions Group Inc., Caravel Info Systems Pvt. Ltd., Proland Software Pvt. Ltd., Engineering Technology Associates Inc., USA (ETA Inc., USA) and Engineering Technology Associates (Shanghai) Inc., China (Subsidiary of ETA Inc., USA), Esqube Communication Solutions Pvt. Ltd. and Cubeware GmbH.
For picture(s)/data to illustrate this release click below:
http://www.BusinessWireIndia.com/attachments/Published Results FY09 Q1[1938].xls
Published Results FY09 Q1[1938].xls
CONTACT DETAILS
Akila Lean, Cranes Software International Ltd., +91 (80) 40789701, akila.lean@cranessoftware.com
Gavin Desa, Citigate Dewe Rogerson, +91 (22) 4007 5036, gavin@cdr-india.com
Aditya Bedi, Citigate Dewe Rogerson, +91 (22) 4007 5036, aditya@cdr-india.com
KEYWORDS
CONSUMER, ECONOMY, MARKETING, BUSINESS SERVICES, Financial Analyst, IT, STOCK EXCHANGES, TECHNOLOGY, 512093.BO, CRANESSOFT.NS
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BWI: Devon IT to Showcase Thin Clients and Desktop Virtualization at IBM System x and BladeCenter Technical Symposium in Mumbai, India
Press release from Business Wire India
Source: Business Wire
Thursday, July 30, 2009 06:24 PM IST (12:54 PM GMT)
Editors: General: Consumer interest; Business: Business services, Information technology, Media & entertainment; Technology
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(BW)(PA-DEVON-IT)Devon IT to Showcase Thin Clients and Desktop Virtualization at IBM System x and BladeCenter Technical Symposium in Mumbai, India
Leader in Thin Client Industry Set to Showcase the IntelTM Atom® based TC5 Thin Client and other IBM Orderable Hardware
King of Prussia, Pennsylvania, United States, Thursday, July 30, 2009 -- (Business Wire India) --
CONTACT DETAILS
Devon IT
India:
Rajesh Naidu
91-80-4140 0088/77
rnaidu@devonit.com
or
U.S.:
Paul Mancini
610-757-4108
pmancini@devonit.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
http://www.businesswire.com
Submit your press release at http://www.businesswireindia.com
Source: Business Wire
Thursday, July 30, 2009 06:24 PM IST (12:54 PM GMT)
Editors: General: Consumer interest; Business: Business services, Information technology, Media & entertainment; Technology
--------------------------------------------------
(BW)(PA-DEVON-IT)Devon IT to Showcase Thin Clients and Desktop Virtualization at IBM System x and BladeCenter Technical Symposium in Mumbai, India
Leader in Thin Client Industry Set to Showcase the IntelTM Atom® based TC5 Thin Client and other IBM Orderable Hardware
King of Prussia, Pennsylvania, United States, Thursday, July 30, 2009 -- (Business Wire India) --
Devon IT, Inc., a leading alternative desktop solution company, today announced their participation in IBM System x and BladeCenter Technical Symposium in Mumbai, India August 3-5, 2009 at the Renaissance Mumbai Hotel and Convention Center.
IT professionals from around the world attend this conference to hear about the new product announcements and technologies that will deliver the leading-edge capabilities that users have come to expect. More than 50 sessions will be offered on topics such as cloud computing, mission-critical capability and scalability, VMware ESXi and more.
"We are excited to participate in this IBM event, as we have seen a huge interest in the alternative desktop space in India," notes Joe Makoid, president of Devon IT. "This exclusive event showcases some of the advanced technologies surrounding the server-based computing industry, and we look forward to demoing our IntelTM based thin client, the T5 as well as our other models of thin clients.
For more details on this event visit http://www-304.ibm.com/jct03001c/services/learning/ites.wss?pageType=page&c=Q156055R32198Z27. For more information about Devon IT's server-hosted products or solutions, call Devon IT India at 91-80-4140 0088/77 or email indiasales@devonit.com.
About Devon IT
Devon IT is an information technology company that focuses on offering thin client hardware and software for alternative desktop solutions that provide enterprise customers with greater security, enhanced manageability, improved reliability, and lower costs. Devon IT's products are orderable from IBM and Devon develops products that support IBM's Virtual Client Solutions. More information is available at http://www.devonit.com
All company, brand, or product names are registered trademarks or trademarks of their respective holders. Devon products sold through IBM's Third Party Options, Vendor Logo Hardware, & Vendor Logo Software programs are not IBM products and are licensed, serviced and supported exclusively by Devon in accordance with Devon's terms and conditions.
CONTACT DETAILS
Devon IT
India:
Rajesh Naidu
91-80-4140 0088/77
rnaidu@devonit.com
or
U.S.:
Paul Mancini
610-757-4108
pmancini@devonit.com
KEYWORDS
CONSUMER, BUSINESS SERVICES, IT, MEDIA, TECHNOLOGY
If you wish to change your Business Wire India selection please click on this link http://www.businesswireindia.com/media/news.asp and use your personal username and password to login.
http://www.businesswire.com
Submit your press release at http://www.businesswireindia.com
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