BSL SOFTWARE - ON THE RIGHT TRACK
Article Abstract:
The scrip of BFL Software has gained recently on the bourses with Baring India Investments Ltd (BIIL) acquiring a controlling stake in the company. The stake was acquired by buying BFL's preference shares at Rs75 per share when the selling price was Rs282. BFL earns around 80 percent of its revenues from offshore software development and in 1997-98, around eight to nine percent of earnings came from solutions to Y2K problem. In 1998-99, the Y2K revenues are expected to account for nearly 25 percent. By the year 2000-01 AD, products are expected to bring in four to five percent and go up to 10 to 15 percent later. BFL plans to set up an American Centre for Excellence and enter ERP consultancy. Recently, it opened a dedicated development centre in Bangalore for Lanier Worldwide Inc of the US to focus on developing technology solutions for the healthcare industry, especially on process improvement for the DOCutivity family of products marketed by Lanier healthcare division. BFL also has a dedicated centre for All Data Corporation of the US in Bangalore and is currently operating five locations in the city. The scrip of BFL is currently being traded at Rs472.75 on the bourses compared to Rs47 in February 1998. (gsh) --------------------------------------------------------- Financial Results: BFL Software (Rs in crore) --------------------------------------------------------- Particulars 1Q ended 1Q ended June, 1998 June, 1997 --------------------------------------------------------- Sales 22.36 11.29 --------------------------------------------------------- Gross Profit 7.58 2.19 --------------------------------------------------------- Depreciation 2.00 0.45 --------------------------------------------------------- Interest 0.49 0.50 --------------------------------------------------------- Net Profit 5.09 1.24 --------------------------------------------------------- Equity 9.33 5.99 --------------------------------------------------------- Earning per share (Rs) (annualised) 21.89 8.27 ---------------------------------------------------------
Comment:
Scrip of BFL Software gains on bourses with this co acquiring controlling stake
Publication Name: Dalal Street Journal
Subject: Business, international
ISSN:
Year: 1998
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A CAPITAL SOLUTION, BUT IS IT EQUITABLE?
Article Abstract:
The promoters of Escorts, the Nandas, proposed a scheme in June 1998 for halving the Rs72.76 crore equity of the company. It was aimed at sharing the gains of restructuring with the shareholders and matching the company's equity with the reduced business portfolio. The total outflow from Escorts on account of the proposed capital restructuring worked out to Rs600 crore. Escotrac Finance & Investment and Escorts Finance Investment & Leasing, investment companies of the Nandas, together hold 26 percent share of Escorts. These companies stand to gain Rs156 crore from the capital restructuring plan. The reduction of the equity of Escorts and the consequent outflow will provide the investment companies with enough money to repay the loans they had borrowed from Escorts. (tsm) (kvr)
Publication Name: BusinessWorld
Subject: Business, international
ISSN:
Year: 1999
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