ODYSSEY TECHNOLOGIES Share price

The company was incorporated as ODYSSEY TECHNOLOGIESPRIVATE LIMITED ON 6-4-90 under the Companies Act 1956and subsequently converted into a Public Limited Companyand a Certificate for change in name was obtained from theRegistrar of Companies TamilNadu Madras from 11thNovember 1994. Since it is a private limited company whichhas been converted into a public limited company nocertificate of commencement of business is needed.ACTIVITY PROFILEApart from rendering Software services the company hastill now developed two Software Packages. The first one"EMBROCAD" ix a high efficiency computerised designing andediting system for the Embroidery Industry. This can formatfloppies and transfer designs to multiheaded embroiderymachines manufactured by four companies namely TAJIMAHAPPY BARUDAN and ZSK. The end users of this package are garmentexporters. This Software is an import substitute item.Earlier all the Garment Exporters were depending upon theimported design systems for their embroidery work. Thispackage has been highly successful and has generatedturnovers in excess of Rs. 20 lacs each during the years1992-93 and 1993-94. For the year 1994-95 till now aboutRs. 10 lacs has been generated out of this package.The second package developed by the company is "TAEXPERT''.The entire programming part related to this package hasbeen completed. The replication of the data on compactdiscs is to be done. The end users of this package areAdvocates Chartered Accountants and Corporate Assessees.The company is currently implementing an on-line InsuranceBroking & Claim Accounting System for M/s Anda InsuranceBrokers Pte. Ltd. of Singapore to the value of Rs. 5 lacs.Talks are underway for other similar systems to beimplemented at Singapore. In addition discussions areunderway to develop a process control system for aSingapore based subsidiary of a European Company This is expected to pave the way for a number of products in CAD/CAM area where Odyssey already has a proven track record.