Entered the IT sector in 1997.
Main activities include Re-engineering of the software, Web
enablement of legacy applications, e-commerce, internet related programming and database
and system administration services.
Project appraised and funded by Syndicate Bank to the extent
of Rs.56.59 lakhs.
Registered with STP of India, Hyderabad.
Issue proceeds would be used to finance the software
development center at Hyderabad and marketing office at US.
M. Srinivasa Rao and V. Srinivasa Rao, both well qualified,
are the promoters.
Total income increased from Rs.14.26 lakhs in FY98 to
Rs.15.87 lakhs in FY99 and the net profit increased from Rs.0.02 lakhs to Rs.0.57 lakhs.
The eleven month period ending February 2000 has ended with total income of Rs.68.75 lakhs
and net profit of Rs.14.17 lakhs.
Estimated revenues for the next three years starting FY2001
stand at Rs.545.2, Rs.817.8 lakhs and Rs.1226.7 lakhs respectively and net profit at
Rs.180.22, Rs.157.14 and Rs.238.22 lakhs respectively.
EPS is estimated at Rs.3.59, Rs.3.13 and Rs.4.75 and
dividend at 25%, 30% and 30% for the same period.
NRIs can apply on non-repatriable basis and on NRO account.
Investment in the scrip can only be an average
recommendation.
. |
