Friday, June 01, 2012:
Acropetal Announces Results for the Quarter and Year Ended
March 31, 2012
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India –1 June, 2012
Highlights:
• On a consolidated basis,our Net Sales for the financial year for the financial year FY 2011- FY2012 stands at 323.79 crores rupees.
• On a consolidated basis, Net Sales & EBIDTA have shown a consistent growth on absolute terms by 61% and 34% respectively over the last financial year.
• The Board of Directors recommended a dividend of 12% i.e. Rs 1.20 per share of face value Rs 10/- each.
• We are coursing the journey of transformation from a pure play services company to an IP-driven Organization.
• Acropetal is bringing together the best of talent at the leadership, management and associate level to make this transformation a successful one.
Acropetal Technologies Limited:
Established in 2001, Acropetal Technologies is a Business Technology Solutions Company headquartered in India providing on-demand innovative solutions in the verticals of Education, Healthcare, Manufacturing CPG & Retail, Government & Citizen Services, Energy & Environment, and Engineering & Infrastructure.
Our mission is to continuously energize innovation excellence by concurrently driving strategic imperatives for mind to market (M2M) and time to market (T2M) mutually inclusively; facilitating transformation and growth for our customer universe.
We create value through a delivery of business solutions on-Demand in real time at the rate of use for a fixed price; as a product, process, service and/or platform. We reach out to our consumers globally and have a presence in India, North & South America, Europe, UK and Middle East.
We continue on our focus on the areas of business we participate in and make investments as required to enable transformation, innovation and growth.
The Strategic Management at Acropetal forecasts a healthy Y – on – Y growth rate including a higher quality of revenue and returns; both on investments and assets.
Mindsi– Acropetal is promoting this challenge to "energize innovation excellence” promoting Intrapreneurship and Entrepreneurship among its customers universe. The Three winners to be selected will win acash prize of USD 100,000 each. Selection of the winners to happen based on a pre-defined process and qualification mechanism.
Acropetal Inc.:
Acropetal’s growth story has been fuelled by both organic as well as contributions from the acquisitions synergistic to our business. We acquired Kinfotech and Mindriver Technologies in FY ‘11 –FY ‘12 in India and Optech & LineBeyond in the USA in FY ‘11 – FY ‘12.
Acropetal Inc. was established towards driving the IP development efforts of the company. This new centre will lead the IP and R&D efforts in the company. Acropetal Inc. will be a 100% subsidiary of the Acropetal Technologies Limited. We have established Acropetal Inc. to drive the IP development companies for the company. An IP development centre will be set up in the bay area for this purpose. Acropetal Inc. will be a 100% subsidiary of Acropetal Technologies.
Awards and Accolades:
Acropetal Technologies has received several accolades over the years. It was recognized and awarded by STPI, Government of Karnataka and Department of IT & BT as fastest growing SME in the year 2006 and 2009. As a mark of its continued growth and resilience, ATL received the second award for the Fastest Growing SME by the Government of Karnataka's STPI and Department of IT & BT in 2009. It also received the prestigious STPI Award for the third time for "High Growth" in 2009-2010. Acropetal Technologies Limited, was certified under ISO 9001:2008 and its project organization is certified at CMMi Level 3.
Acropetal Technologies
Consolidated Balance Sheets as ofMarch 31st 2012
(All Figures In lakhs) 2011-12 2010-11
Particulars ATL (Consolidated) ATL (Consolidated)
EQUITY AND LIABILITIES
Shareholders’ funds
(a) Share capital 3,889 3,889
(b) Reserves and surplus 30,125 24,867
34,014 28,756
Non-current liabilities
(a) Long-term borrowings 11,468 6,455
(b) Deferred tax liabilities (net) 329 509
(c) Other long-term liabilities - -
(d) Long-term provisions 137 -
11,934 6,964
Current liabilities
(a) Short-term borrowings 4,568 3,530
(b) Trade payables 5,534 1,458
(c) Other current liabilities 3,264 1,087
(d) Short-term provisions 1,952 571
15,318 6,647
TOTAL LIABILITIES 61,267 42,367
ASSETS
Non-current assets
(a) Fixed assets
(i) Tangible assets 5,133 11,174
(ii) Intangible assets 16,366 68
(iii) Capital work-in-progress - 2,938
(iv) Intangible assets under development 2,175 -
(v) Fixed assets held for sale - -
23,673 14,180
(b) Non-current investments 510 510
(c) Deferred tax assets (net) 65 -
(d) Long-term loans and advances 13,642 11,430
(e) Other non-current assets 41 -
14,259 11,940
Current assets
(a) Current investments - -
(b) Inventories 24 -
(c) Trade receivables 19,588 5,703
(d) Cash and cash equivalents 2,338 9,758
(e) Short-term loans and advances 1,035 785
(f) Other current assets 349 -
23,335 16,247
TOTAL ASSETS 61,267 42,367
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