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Q309: Simputer Gets A New Lease Of Life? Geodesic Acquires Uruguay Software Co; Chandamama

amida simputer

amida simputerA busy quarter for Geodesic Ltd: the company signed “teaming agreements” with ITI Ltd and Glodyne Technoserve for the poor-man’s computer, the Simputer. With ITI, the company will target state government e-governance projects for VoIP on desktops, IP phones, mobile phones, as well as the simputer, and they will include the Simputer as a part of Glodyne’s solution for Public Distribution System for various states in India. There are no inputs from the company on the plans for deployment of the Simputer, though. And here one thought that the Simputer was dead.

Uruguay Acquisition & Messaging Solutions

Geodesic Holdings Limited, wholly owned subsidiary of Geodesic Limited has signed a Share Purchase Agreement to acquire 100% of a privately held software company, headquartered in Uruguay. The company focuses on developing advanced messaging and collaboration solutions for Telecom operators, and has implemented their solution across 12 carriers in Latin America, South Africa and Asia. The name of the company has not been disclosed.

The acqusiition appears to be in line with Geodesic’s focus on the messaging business – during the quarter, the company launched a Beta version of Mundu SMS – an IP based two way SMS service for a wide range of mobile handsets and desktops/laptops, which can be used in India, Asia-Pacific, Europe and South America. The company claims it saves 60-90% of the messaging cost. They also added as clients, Business Standard (our report here), Edelweiss Capital, Systematix Shares and Stocks (I) Limited, First Global Stock Broking, Dialog Telekom, and a Japanese Telco. They added 2,23,000 users for Mundu products and clocked an average of 60, 000 minutes a day during the last quarter.

Chandamama Ties Up With Toonz Animation; Rights Issue

Their content business Chandamama has signed MOU with Technopark based Toonz Animation India Pvt. Limited, for producing a 70 minute, full-length animated feature film. The company also had a rights issue of 36,95,325 equity shares of Rs.10/- each at par and the same was subscribed 95.53%..

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Financials

It has reported a 11 percent rise in consolidated net profits for the third quarter of 2009 to Rs million over Q2. It has posted an 18 percent rise in net sales from Rs 1542.3 million in Q2 09 to Rs 1834.6 million this quarter on a consolidated basis. Total expenditure has risen sharply to Rs 876 million.

Sales recorded a three year CAGR of 98.9 percent. The company’s EPS now stands at Rs. 9.51 as compared to Rs. 4.74 in the corresponding quarter last year.

Geodesic has announced an interim dividend of 40 percent (or 80 paise per share) despite rough business conditions. The company’s board of directors has also approved a buyback of the company’s FCCB bonds (USD denominated Zero Coupon Convertible Bonds) to utilise its unused funds parked overseas. A committee consisting of members of the Board has also been instituted to buy back 25 percent of the company’s equity capital through open offer at stock exchanges.

Details: Release, Consolidated Financials, Standalone Financials,

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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