Polaris Software Lab (POLS.BO) is a leading Financial Technology company, with its comprehensive portfolio of products, services and consulting. Polaris has a talent strength of over 9,000 solution architects, domain and technology experts. The company owns the largest set of Intellectual Properties in the form of a comprehensive product suite, IntellectTM Global Universal Banking (GUB) 10.0. IntellectTM is the first pure play SOA based application suite for Retail, Corporate, Investment banking and Insurance. Polaris is headquartered in Chennai and has offices in all global financial hubs including Tokyo, Sydney, Hong Kong, Singapore, India, Dubai, Bahrain, Riyadh, London, Belfast, Zurich, Frankfurt, Toronto, New York, Chicago, Fremont, Pittsburgh and Chile.
Key Performance Metrics
•Profit after Tax (PAT) grew by 57% year on year to USD 10.20 million from USD 6.51 million
•Operating Profit (EBITDA) grew by 42% to USD 12.16 million from USD 8.58 million
•Total Income grew by 26% to USD 80.52 million from USD 63.89 million
Financial and Operating Highlights
•Net Profit Margins improved 247 bps year on year
•Cash and cash equivalents stood at Rs. 510 crores at the end of the quarter
•Americas contributed to 46%, EMEA (Europe, Middle East and Africa) contributed to 24% and Asia Pacific contributed to 30% of the quarter revenues, maintaining a balanced revenue portfolio
•Annualized EPS for Q1 grew to Rs. 18.8 from Rs. 12.9 in the same quarter last year
•The Days Sales Outstanding (DSO) stood at 45 days, reflecting high customer satisfaction and extreme execution
Business Outlook
With the annualized EPS achievement of Rs. 18.8 at the end of first quarter, company provides an annual guidance of EPS growth of Rs. 20.2- 20.5 for the year 2010-11, as advised at the start of the financial year.
http://www.polaris.co.in/media/media-release/2010-july-q1-results-fy-10-11.pdf