Sankhya Infotech Share price

Mr. Nadupalli Srinivas and Mr. Nadupalli Sridhar chief promoters of the Company were in the Software business since 1985 engaged in the software development and offering outsourcing services for various clients. Initially a partnership firm under the name & style "Sankhya Management Services" was started in April 1985 by Mr. N. Sridhar. The firm was actively engaged in the business of computer services &management consultancy. Since then they were continuously developing various software. The firm was doing business upto 1991. In 1992 Mr. N. Sridhar and Mr. N. Srinivas promoted a private limited company by name Sankhya Management Services (P) Ltd (SMSPL). The Company SMSPL was providing software development and outsourcing services for various clients like State Bank of Hyderabad Indian Airlines Osmania University State Board of Technical Education A.P. Indian Railways State Bank of India Defence establishments Etc. The Company receivedappreciations for the work done.During 1993 Central Training Establishment of Indian AirlinesHyderabad entrusted a Software development work for maintaining Pilots Training records to SMSPL which was completed by the Company satisfactorily and M/S Indian Airlines has appreciated the work.The promoters took a strategic decision to enter into software product development project handling using their domain knowledge acquired by them in the past and leveraging the same to otter innovative software solutions to the domestic and international clients.Accordingly on 21.07.1997 "Sankhya Infotech Limited" (SIL) wasincorporated as a Public Limited Company with Registered office at Bhubaneswar. The Company commenced its business operations with effect from 01.08.1997.The Company received permission on 28.05.1998 to set up a 100% Export Oriented Unit at Secunderabad under the STP scheme from the Director Software Technology Parks of India Hyderabad. The Company is presently engaged in Software product developmentoffering turnkey projects management services besides consulting services for the domestic and international clients.As per "IMAGE" Indian Airlines House Journal of January 1998 the company is one of the three companies In the world to have developed the complete Simulation and Computer Based Training software for aviation industry in the world. In India this training facility however would be provided through remote access'' for the first time in the world. Copy of the Indian Airlines House Journal "IMAGE"and letter from FAA Washington DC are made available for inspection. Besides Federal Aviation Administration (FAA Office of Public affairs) Washington DC in their letter dated 29.1.1998 as stated "The Product developed by Sankhya would therefore be the first attempt on CBT''S forinternet and is appreciated for the pioneering research done in the field of air safety".The company had entered a technology joint venture with Indian Airlines during late 1997 to develop CBT (Computer Based Training) products for pilot training for the A-320 cockpit crew. The company has developed excellent skills and has been able to win an order from the Airbus Industrie France.The Company has opened "Sankhya Technology Excellence Centre (STEC) which provides training. STEC is presently extending training on Magic Java C & C++. The centre offers two Magic University (Israel) Certified programs called certified Magic Developers Program and Certified Magic Enterprises Developer Program.SIL developed a number of Airline related software products which have instant demand in the worldwide market. Called as the IRMAO these products offer comprehensive solutions for Resources Management for Airline Operations. All the suite of IPMAO products are fully tested and are under implemented for over 1 year. SIL has also developed on Aircraft Maintenance Software.As a process of consolidation of Transportation Tourism & Travel industry the Company has developed unique Hotel Management Software to offer to its international clientele this product is technologically superior to many other available products. This product is web-enabled Euro-Ready and E-Commerce ready and is integrated to the on-line currency market. It is a custom built ERP for the Hotel Industry.The company has bagged assignments in the US and SIL consultants are currently engaged in the consulting activities with a number of leading organisations in the US. The company as procured order from M/s Adept Consulting Inc. U.S.A. date 1.3.99 for US $1 Million (Rs 4.32 Crores). These assignments are carried out at various locations in the US.The Company has a branch office in Vishakapatnam and a development centre at Hyderabad. The Company has approached RBI for permission to open branch offices at USA and France. In order to market its Airline products and mobilize orders for both on-site and offshore products abroad.The Company during its first year of operations (8 months) achieved a turnover of Rs.11.70 lakhs (period ended 31.3.1998) which has grown to Rs.432.72 lakhs as on 31.03.1999. Profit after tax grew from Rs. 1.32 lakhs to Rs.22.41 lakhs during the said period and had paid dividend for the two years. For the year 1999-2000 the Company projected a turnover of Rs.450 lakhs of which export operations would be to the extent of Rs. 195 lakhs.The company being the early entrant into the field of aviation software they are well positioned in the software market they have already entered into strategic marketing alliances with Indian Airlines Adept Consulting Services and Magic Infotech India Pvt. Ltd. The Company for the nine months period of the current year has achieved sales of Rs. 143.93 lakhs in software out of total income of Rs. 220.30 lakhs.o