Speaking about the event, Mr. Gaurav Sinha, National Sales Head, MagicBricks.com said, “The MagicBricks.com Gurgaon Property Bazaar ’08 saw over 2,500 home seekers walk-in to interact with twenty five developers and builders participating in the event. Business transactions of over Rs. 12 Crore were conducted. The participants were not only from Delhi and NCR but also from Jaipur which gave visitors another reason to visit the fair.”

Mr. Asheesh Kher, a visitor, seeking his dream home, impressed by the event, remarked, “The MagicBricks.com Fair was a good opportunity for me to come and see all the options available in market. It made the search for my dream home a lot easier. I can now go home and think about all these choices before finally getting to a conclusion without having to visit various places where these builders and developers are actually located. MagicBricks.com fairs have really simplified house hunting!”

Participating developers were equally impressed by the turnout, as elucidated Mr. Devender Yadav, Executive Director, Roots Developer Pvt. Ltd., “The large educated and talented pool in Gurgaon is slowly being exposed to international quality living. We wanted to showcase quality housing and our wide range of facilities that make life more pleasurable and vibrant. Magicbricks.com exhibition in Gurgaon has been a stupendous success for us.”

Col. Chopra, Vice President, BDI, added, “The BDI Group believes that such kind of professionally organized property fairs are the need of the hour since the real estate boom in India needs to be explored at all possible levels and developers can directly interact with the prospective buyers and MagicBricks.com Gurgaon Property Fair served this purpose successfully.”

This was the fourth such event in Gurgaon that MagicBricks.com organised successfully, and offered hundreds of project options ranging from budget, affordable to premium residential & commercial properties brought by over 15 premium developers from North India – all at a single venue.

Some of the reputed names participating in the Gurgaon Property Bazaar ’08 included Roots Developer Pvt. Ltd., BDI, BPTP, Ramprastha, Van Sundaram, Madhyam amongst others. They were able to register booking for 25 projects on-the-spot and generate thousands of other leads for future registrations in their projects.

Source: Press release distribution via India PRwire

“Strong business execution led to high international and North American sales growth for specialty printing and a sharp sequential increase in our enterprise solutions business,” stated Anders Gustafsson, Zebra’s chief executive officer. “Our programs to penetrate more deeply into targeted vertical markets and extend our geographic reach are building a more diversified customer base. We are winning additional business opportunities with new products and solutions that help our customers identify, manage and track a broader range of assets within the enterprise and across the supply chain. These activities make us optimistic about further growth and give us confidence in our ability to meet our long-term objectives.”

Discussion and Analysis

For the second quarter of 2008 compared with the second quarter of 2007:

• Consolidated sales growth of 21.5% resulted from 12.8% growth in the company’s Specialty Printing Group (SPG) and $25,020,000 in sales from the company’s Enterprise Solutions Group (ESG). International sales increased 28.0%, with record sales in the Asia Pacific and Latin America regions. North American sales increased 14.1%. Consolidated sales were affected by $5,009,000 in unfavorable adjustments from revenue hedging activities.
• Gross profit margin increased to 50.3% from 47.6%. Profitability was favorably affected by lower product costs, favorable changes in foreign exchange, and certain one-time items that accounted for 1.0 percentage points of the gross margin improvement.
• Operating expenses increased from acquisition-related additions of personnel and other expenses, the implementation of annual merit pay increases, higher SPG marketing expenses and costs for two customer conferences.
• Operating expenses were also affected by a $2,059,000 increase in the amortization of intangible assets from the acquisitions of Navis and Multispectral Solutions, as well as $4,680,000 in exit costs related to the company’s previously announced initiative to transfer final assembly of thermal printers to a third party.

For the first six months of 2008, the company had net sales of $500,059,000, up 19.8% from $417,488,000 for the same period a year ago. First-half net income totaled $53,170,000, or $0.81 per diluted share, including $7,914,000 in exit costs which reduced earnings by $0.08 per diluted share.

At June 28, 2008, Zebra had $270,148,000 in cash and investments, and no long-term debt. Net inventories were $101,339,000, and accounts receivable, net, were $179,081,000.

During the second quarter of 2008, the company repurchased 461,000 shares of Zebra Technologies Class A Common Stock under an authorization to purchase up to 3,000,000 shares. In the first six months of 2008, the company repurchased 1,490,600 shares of Zebra stock for $48,402,000.

Third Quarter Outlook

Zebra announced its financial forecast for the third quarter of 2008. Net sales are expected within a range of $242,000,000 to $253,000,000, which reflects an expected seasonal slowdown in Europe, a more cautious economic outlook and unfavorable adjustments from revenue hedging activities of approximately $5,000,000. Earnings are expected between $0.35 and $0.41per diluted share. This outlook includes approximately $3,500,000 expenses related to exit costs.

Source: Press release distribution via India PRwire

Zebra Technologies Corporation helps companies identify, locate and track assets, transactions and people with on-demand specialty digital printing and automatic identification solutions. In more than 100 countries around the world, more than 90% of Fortune 500 companies use innovative and reliable Zebra printers, supplies, RFID products and software to increase productivity, improve quality, lower costs, and deliver better customer service. Information about Zebra and Zebra-brand products can be found at http://www.zebra.com.

The Company’s financial highlights for the second quarter of 2008 include:

• Revenues for the quarter increased 25.1% to $53.8 million from $43.0 million in the quarter ended June 30, 2007.
• Gross margin for the quarter was 37.0% compared to 33.1% in the quarter ended June 30, 2007.
• Operating margin for the quarter was 9.8% compared to 6.1% in the quarter ended June 30, 2007; adjusted operating margin for the quarter, excluding the impact of stock-based compensation expense and amortization of intangibles, was 13.7% compared to 10.0% in the quarter ended June 30, 2007.
• Income from operations for the quarter was $5.3 million compared to $2.6 million for the quarter ended June 30, 2007; adjusted income from operations, excluding the impact of stock-based compensation expense and amortization of intangibles, for the quarter was $7.4 million compared to $4.3 million for the quarter ended June 30, 2007.
• Net income to common stockholders for the quarter was $5.3 million compared to $5.6 million in the quarter ended June 30, 2007.
• Diluted GAAP earnings per share to common stockholders was $0.18 for the quarter compared to $0.19 in the quarter ended June 30, 2007; adjusted earnings per share on a diluted basis, excluding the impact of stock-based compensation expense and amortization of intangibles, was $0.23 for the quarter compared to $0.24 in the quarter ended June 30, 2007.

Reconciliations of adjusted financial measures to GAAP are included at the end of this release. Effective April 1, 2008 the Company has revised its three previous reporting segments into two segments, Outsourcing Services and Transformation Services, to match the way our business now operates and markets its products.

Rohit Kapoor, President and CEO of EXL, commented: “As the economic environment in the US, UK and Europe continues to become more challenging, our clients are actively seeking strategic cost management solutions. We are pleased that EXL’s vision of delivering both Outsourcing and Transformation services is playing well to this market trend. Our performance this quarter was led by rapid growth in our Transformation business across a well diversified base of client relationships. From an operational perspective, this quarter we are proud to have achieved record low attrition levels and at the same time we have improved our margins. With the resolution of Aviva’s strategic review process and the extension of our contract with two of our largest customers, EXL is now fully focused on adding new client relationships and growing our business. We have an extremely strong balance sheet and are well positioned to execute strategic acquisitions and continue to make growth-oriented investments.”

Matt Appel, CFO of EXL, commented: “EXL’s second quarter financial results reflect strong profitability performance. Our adjusted operating margins for the second quarter of 2008 expanded to 13.7% from 10.0% a year earlier despite the annual wage increases granted during the quarter as well as the headwind related to the opening of our Philippines facility in April 2008. We are particularly pleased with the growth in our adjusted operating margin which reflects the operating performance of our business. As a result of one time charges related to the transfer of the Aviva Pune BOT, the volatile foreign exchange environment and lower volumes expected at select clients in the second half of 2008 we are adjusting our guidance for 2008. We continue to believe that the fundamentals of our business model, including our long term growth rate and adjusted operating margins, are intact.”

Financial Highlights – Second Quarter 2008

• Revenues for the quarter ended June 30, 2008 increased 25.1% to $53.8 million from $43.0 million in the quarter ended June 30, 2007. Second quarter revenues grew by 5.6% as compared to the quarter ended March 31, 2008 due to sequential revenue growth of 14.3% in Transformation Services and 3.6% in Outsourcing Services.
• Gross margin for the quarter ended June 30, 2008 was 37.0% compared to 33.1% for the quarter ended June 30, 2007 and 36.5% for the quarter ended March 31, 2008. Second quarter 2008 gross margin increased as compared to the previous quarter due to the positive impact of exchange rates during the quarter offset by company-wide annual wage increases and costs associated with the opening of our new Philippines facility.
• Operating margin for the quarter ended June 30, 2008 was 9.8%, compared to 6.1% for the quarter ended June 30, 2007 and 9.9% for the quarter ended March 31, 2008. Second quarter 2008 operating margin remained equal with the previous quarter as a result of increased gross margins and favorable exchange rate movements offset by increased stock-compensation expense for 2008 grants and costs related to the opening of our new Philippines facility. Adjusted operating margin, excluding the impact of stock-based compensation expense and amortization of intangibles, for the quarter ended June 30, 2008 was 13.7% compared to 10.0% for the quarter ended June 30, 2007 and 12.3% for the quarter ended March 31, 2008.
• Net income to common stockholders for the quarter ended June 30, 2008 was $5.3 million compared to $5.6 million for the quarter ended June 30, 2007 and $6.8 million for the quarter ended March 31, 2008. Net income for the second quarter of 2008 was negatively impacted as compared to the quarter ended March 31, 2008 by foreign exchange losses (on hedge contracts and non-cash balance sheet revaluation) related to the significant depreciation of the Indian rupee and Philippine peso during the second quarter.
• Adjusted earnings per share, excluding the impact of stock-based compensation expense and amortization of intangibles, for the quarter ended June 30, 2008 was $0.23 as compared to $0.24 for the quarter ended June 30, 2007 and $0.26 for the quarter ended March 31, 2008.
• Revenues generated from our largest client represented 22.3% of total revenues for the quarter ended June 30, 2008 as compared to 28.8% for the quarter ended June 30, 2007. Revenues generated from our three largest clients represented 51.5% of total revenues for the quarter ended June 30, 2008 as compared to 59.4% for the quarter ended June 30, 2007.
• Business Highlights – Second Quarter 2008
• We experienced record low quarterly attrition of 29% compared to 32% for the first quarter of 2008 and 42% for the second quarter of 2007. As of June 30, 2008, EXL had a headcount of approximately 10,600 individuals (including personnel managed under structured client service agreements) representing an increase of approximately 100 from the first quarter of 2008.
• In an environment where new customer contracts have been delayed and ramp ups on existing clients have been slower than anticipated, we have:
• Signed two new Outsourcing Services clients and three new Transformation Services clients.
• Signed contracts with two additional existing insurance clients to deliver Outsourcing Services from our new Philippines facility.
• Entered into contract extensions with our two largest clients: Aviva through February 2012 and Centrica through January 2010.
• Appointed Kiran Karnik as an independent director on EXL’s board with effect from September 25, 2008. Mr. Karnik was the immediate past President of NASSCOM, India’s industry body representing companies in the information technology (IT) and IT-enabled services sectors.

2008 Outlook Based on current visibility, the Company is providing the following guidance for calendar year 2008 based on current exchange rates:

• Revenues of $200 to $205 million. Adjustment to our previous guidance is due to lower volumes expected at select clients during the second half of 2008.
• Maintaining guidance for adjusted operating margin, excluding the impact of stock-based compensation expense and amortization of intangibles, at 12.0%
• GAAP EPS of $0.65 per diluted share. The change in GAAP EPS guidance is primarily attributable to:
• One-time charges of $0.09 comprised of:
• Capital gains and dividend distribution taxes arising from the transfer of the Aviva Pune BOT of $0.07. Indian tax law imposes a capital gains tax on the difference between the value of an entity calculated pursuant to certain government regulations and the original investment and a separate tax on dividends paid by a subsidiary to its parent company.
• Transaction costs of $0.02 related to the recent sale of Aviva’s offshore business.
• Losses on foreign exchange hedge contracts and non-cash balance sheet revaluation of $0.03 due to timing and volume mismatches for the various currencies in which we conduct our business.
• Lower volumes at select clients of $0.03.
• Timing of revenues and higher costs associated with the opening of our Philippines facility of $0.03.
• Calendar year guidance includes approximately $16 million of revenue, and $0.06 of GAAP EPS related to the Aviva Pune BOT. The subsidiary that operates the Aviva Pune BOT is expected to transfer on August 11, 2008.

Conference Call

EXL will host a conference call on Thursday, August 7, at 10:00 a.m. (ET) to discuss the Company’s quarterly results and discuss the Company’s operating performance and financial outlook. The conference call will be available live via the internet by accessing the EXL web site at www.exlservice.com, where the accompanying presentation can also be accessed. Please go to the website at least fifteen minutes prior to the call to register, download and install any necessary audio software.

To listen to the conference call via phone, please dial +1-800-573-4840 or 1-617-224-4326 and enter “80598656”. For those who cannot access the live broadcast, a replay will be available by dialing +1-888-286-8010 or +1-617-801-6888 and enter “47181985” from two hours after the end of the call until 11:59 p.m. (EST) on August 14, 2008. The replay will also be available at the EXL web site.

Source: Press release distribution via India PRwire

About ExlService Holdings, Inc.

ExlService Holdings, Inc. (Nasdaq: EXLS - News) is a leading provider of Outsourcing and Transformation Services. EXL’s Outsourcing Services include a full spectrum of business process outsourcing services from offshore delivery centers requiring ongoing process management skills. Transformation Services enable continuous improvement of client processes by bringing together EXL’s capabilities in reengineering including Six Sigma process improvement, research & analytics, and risk advisory services. Headquartered in New York, EXL primarily serves the needs of Global 1000 companies in the insurance, utilities, financial services, healthcare, telecommunications and transportation sectors. Find additional information about EXL at www.exlservice.com.

This press release contains forward-looking statements. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to the Company's operations and business environment, all of which are difficult to predict and many of which are beyond the Company's control. Forward-looking statements include information concerning the Company’s possible or assumed future results of operations, including descriptions of its business strategy. These statements often include words such as “may,” “will,” ”should,” “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate” or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect the Company's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements in this release.

You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect the Company. The Company has no obligation to update any forward-looking statements after the date hereof, except as required by federal securities laws.

Owing to the impending restructuring of Aptech's holding in the Chinese Joint Venture consequent to the Framework agreement, executed on 20th March 2008, which is yet to be followed up by the execution of definitive agreements, the accounts for the quarter could not be consolidated, pending receipt of the appropriate financial information. The consolidated numbers will be materially different from the standalone numbers.

On a standalone basis, Aptech posted an increase of 18% in its revenues and 60% in operating profits compared to same quarter last year. The revenues from the retail education business increased by 42% in this quarter.

Commenting on Aptech’s performance, Mr. Pramod Khera, CEO & MD – Aptech Ltd., said “The second quarter saw all our brands expanding across India & abroad. We forayed into Mauritius & Botswana in keeping with our plan of expanding in Africa. The newly launched brand of N-Power is forging ahead with 30 centres operational. ”

Highlights Q2 2008 :

- Aptech forayed into Mauritius & Botswana during this quarter. Additional Aptech Computer Education and Arena centres signed up in Russia, Mauritius, Vietnam & Botswana.

- Arena Animation - the Global leader in Animation Education inaugurated Animation Studios in Chennai to execute its Hi-end Animation Engineering program.

- Avalon Academy inaugurated 23 new centres during quarter & tied up with KSOU to offer BBA & MBA in Aviation, making it the first institute to offer Management programmes in Aviation

- Aptech Computer Education organized Job Fests across the country, which evoked immense response at every location viz. Delhi, Mumbai, Kochi & Kolkata, where approximately 1300 students were short listed for job openings by respected companies from the IT-ITES space.

- N Power, the Hardware & Networking Training initiative opened 8 new centres during this quarter & launched its flagship course N-Power Certified Enterprise Systems Engineer (NCESE) program in collaboration with International vendors like CompTIA & Redhat.

Acknowledgment :

Aptech Vietnam was lauded as the No.1 Training provided for the 6th year in a row (2003-2008). Received the Top ICT Training Cup from Ho Chi Minh Computer Association (HCA).

Source: Press release distribution via India PRwire

About Aptech Limited:

Aptech commenced its IT education & training business in 1986 and has trained over 5 million students – globally. Aptech is an ISO 9001:2000 organization and the first IT Training and Education company to get this certification for Education Support Services in 1993.

Aptech is a Learning Solutions company with two main streams of businesses – Individual training and Corporate Learning Services.

Under Individual Training, Aptech offers career and professional training in IT (Aptech Computer Education), Animation & Multimedia (Arena Animation); Certified Hardware & Networking Training (N-Power) and Aviation & Hospitality Training (Avalon Academy).

Corporate Learning Services includes Content Development (Aptech Learning Services); e-learning (onlinevarsity.com), Training & Assessment Solutions for Corporates & Institutions (Aptech Training Solutions & ATTEST) and Developer Training & Consultancy (Synergetics).

For further information on Aptech Limited, please visit our website at www.aptech-worldwide.com

The net sales for the first quarter stood at Rs. 793 crore and PBDIT at Rs. 67.92 crore. compared to Rs. 616.49 crore and Rs. 48.35 crore respectively, in the corresponding quarter of the previous financial year. The strong operating performance was adversely impacted due to Foreign Exchange Fluctuation loss of Rs. 12.97 crore. PBDIT (excluding Foreign Exchange Fluctuation loss) grew by 81 per cent to Rs. 80.89 crore (Rs.44.76 crore).

The company’s bottomline turned around in Q1 FY09 as its net profit for the quarter settled at Rs. 4.87 crore, compared to a net loss of Rs. 7.77 crore in the corresponding quarter of the previous financial year.

Commenting on the performance for the quarter, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “Our businesses have built inherent strengths and delivered good operating results. Improved margins in Plastics and Chemicals enabled us to tide over the challenging environment in the Sugar business and rising financial charges. Our newer businesses i.e Hariyali Kisaan Bazaar and ‘Fenesta Building Systems’ are progressing as per plan, extending geographical reach and customer base.

Company completed the expansion of the Chemicals capacity to 360 TPD at Bharuch, with the commissioning of 55 MW coal based Power Plant by August 2008, the cost competitiveness of this business will improve significantly.

The Commissioning of 24 MW Co-gen Power Projects in 2008-09 Sugar season will provide additional revenue stream for Sugar Business.We are pursuing options to further strengthen our operations by building raw material and fuel security. These steps along with the multiple revenue streams in built in our operating model should create sustained value going forward.”

During the quarter under review, sales from own products were up by 12.5 per cent at Rs. 600 crore and that from traded products by 133 per cent at Rs. 193 crore. Chemicals and Plastics business revenues were strongly driven by higher volumes and better margin realizations. Agri Inputs trading was up by 145 per cent at Rs. 107 crore and Hariyali Kisaan Bazaar business by 125 per cent at Rs. 86 crore.

Fertilizer business also registered higher volumes in Q1 FY 2009 since there was a planned shutdown in Q1 FY08. Company used LNG as feedstock to the extent of 54 per cent, which resulted in energy savings and lower subsidy claims.

DSCL’s doors and windows division-- “Fenesta Building Systems” -- recorded positive PBIDT in the quarter as it gained volumes and improved margins. However, the sugar business continued to face challenges but managed to curtail its losses.

DSCL continued to optimise its existing strengths in the Agri space while simultaneously leveraging its large base of captive power produced at a competitive cost to maximize value creation in its Chloro-Vinyl businesses. The high-value and knowledge based businesses initiated by the Company, including Fenesta Building Systems, Hariyali Kisaan Bazaar, have also delivered encouraging performances.

The company’s first phase of expansion, of its Chlor-alkali capacity from 200 TPD to 360 TPD at its Bharuch facility is complete, the benefits from the same will start accruing post commissioning of the 55 MW Coal based power plant by August 2008. The second phase of expansion, taking the capacity to 445 TPD is expected to be commissioned by March 2009 and is progressing as per schedule.

The expansion of the co-gen power capacity from the existing 70.5 MW to 94.5 MW with an exportable surplus capacity of 51.5 MW is progressing as per schedule and is expected to start from sugar season (SS) 2008-09. The Company is expanding co-gen power facilities of 24 MW at its sugar units at Hariavan and Loni for export to the state grid.

DSCL started using dual feed of LNG and Naphtha since September 2007 depending on the availability of LNG. The company is currently procuring LNG on a spot price basis and is simultaneously trying for long-term contracts. The company during the quarter under review used LNG and Naphtha in the ratio of 54: 46.

Seventeen new Haryali outlets were added during Q1 FY2009. ‘Hariyali’ a ‘rural business centre’, is aimed at meeting farming as well as family needs of the rural population. The number of Hariyali outlets now stands at 177, which the company plans to scale up aggressively to around 300 outlets by March 2009.

‘Hariyali’ is now present in 8 states across India, with Maharashtra being the new state in which 7 outlets were opened in this quarter.

‘Hariyali’ continues to enlarge its offerings of goods and services. It started Seed processing and warehousing activities during the quarter at three locations.

‘Fenesta Building Systems’, which offers world class UPVC Window and door systems to Indian customers, achieved an order booking of 42000 windows during the quarter (Q4 FY08 being 28000 windows) taking the total orders in hand as on 30th June 08 to 2.3 lac windows.

The division recorded positive PBDIT for the quarter with higher volumes and better margins. The new products launched by the company have also witnessed encouraging response.

DSCL expects the realisations and margins in its Chemicals and Plastics business to remain healthy. The implementation of the coal based Power Plant and Chlor-alkali capacity expansion at Bharuch in Q2 FY09, will also add to the margins and profitability in the Chemicals business.

The company’s sugar realisations are demonstrating an upward trend, in view of expected lower production in ensuing sugar season. However the cane price issue remains an area of concern.

In Fertiliser business, subsidy payment is a matter of concern.

Hariyali will continue to deliver aggressive growth while it continues to be in an investment and expansion mode.

Fenesta Building Systems is expected to become profitable at an operating level in FY 09

Source: Press release distribution via India PRwire

Propel CommunicationSolutions (India) Ltdis amongst the very few public limited companies in the business of offering quality PR servicesto a variety of Industry segments. Headquartered in New Delhi, Propel hasa pan-India network of its own branches/associates/representatives.

Propel’s present clientele represent a variety of industries, including IT sector, healthcare, pharmaceuticals, Lifestyles and others. The agency uses all disciplines to create and deliver messages, which can establish clients’ objectives into visibilities. The clients’ products and services deserve recognition in their respective region. Propel can provide it with a bottom line business perspective that will surprise you. The agency’s primary mission is to help clients gain a significant market presence and position for their products and services in the global market. Its approach on every public relations campaign is with a sense of urgency, knowing that the client pay for results.

Propel prides it on meeting the high standards in the PR industry by listening carefully to clients and gaining a deep understanding of their products and services. With strong network of more than 1000 media persons, planned strategy, excellent writing, pinpoint distribution and tenacious follow-up, Team PRopel makes every PR campaign a successful one. Propel’'s unique approach redefines the way PR is taken up as a professional medium to generate awareness for any product / service / event.

Key highlights:

• Revenue was Rs. 177.92 Cr. for the quarter ended June 30, 2008; year on year growth was 17%

• EBITDA was Rs. 34.43 Cr. for the quarter ended June 30, 2008; year on year growth was 29%

• Net profit after tax was Rs. 20.06 Cr. for the quarter ended June 30, 2008; year on year growth was 12%

• Earnings per share increased to Rs. 39.04 from Rs. 34.08 in the corresponding quarter in the previous year; year on year growth was 14%

• Number of new client wins – 5

• Total employee base as at June 30, 2008 – 13,575

• Net cash and cash equivalents – Rs. 541.50 Cr

Our global delivery mode of India, Philippines, USA and Canada is working very well. We see a strong traction in organic growth in our existing businesses. The current downturn in the US economy augurs well for off-shoring and the new business pipeline is also looking strong. We have just opened our new centre in Chennai for 800 seats, and another 400 seats are coming up in Mumbai in August.

Awards and recognitions

HTMT Global Solutions was recognized with a gold medal at the recent HR Outsourcing Summit held in Bangkok. The company was recognized for its efforts in institutionalizing a competency development model. HTMT was also ranked in the Top 20 BPO Employers by NASSCOM in their annual survey.

Source: Press release distribution via India PRwire

About HTMT Global Solutions

HTMT Global Solutions, part of the multi-billion dollar conglomerate, Hinduja Group excels in providing outsourcing solutions that include Back Office Processing, Contact Center services and customized IT solutions to its global clientele comprising several Fortune 500 Companies. HTMT Global Solutions has been ranked the Best performing Call Center Worldwide by the Global Services Magazine in association with Neo IT in January 07.HTMT Global has marketing offices in North America & UK and 20 delivery centres in United States, Canada, Mauritius and Philippines. The Company employs over 13000 people worldwide.

About the Hinduja Group

The Hinduja Group is a multi-billion dollar global investment and banking group with a diversified global portfolio of holdings across the manufacturing services and banking sectors. The Group, founded by Shri P.D. Hinduja in 1914, has activities across three core areas: Investment Banking, International Trading and Global Investments. As part of its Global investments, the Group owns businesses in Automotive, Information Technology, Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare.

The Hinduja Group also supports charitable and philanthropic activities across the world through the Hinduja Foundation. Earnings call The company will conduct an hour long conference call at 6:00pm IST on 4th Augustt’08. Senior management will discuss the results and take any question from investors and participants. To log in the call please dial the following numbers.

Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in the BPO industry including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integratepotential acquisitions, liability for damages on our service contracts, the success of the companies in which HTMT Global has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry.

HTMT Global may, from time to time, make additional written and oral forwardlooking statements, including our reports to shareholders. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.

Hinduja Ventures (‘HVL’ – previously Hinduja TMT Limited) at its Board Meeting held today announced results for the first Quarter ended 30th June, 2008.

On a Consolidated basis, HVL reported First Quarter Total Income of Rs. 91.46 crore as compared to Rs. 60.69 Crore over the corresponding Quarter of the previous year, a rise of 50% over the previous year. The Net profit after Taxes and Minority Interest stood at Rs. 15.22 Crores as compared to Rs. 14.07 Crore, a rise of 8% over corresponding period. The increase in revenues and profits continued to be contributed to by healthy income of its Media Segment from its Subsidiary IndusInd Media & Communications Limited (‘IMCL’). The Media Segment contributed a rise of 48% in Total Income for the Quarter buoyed by channel placements.

Subsidiaries:

IMCL first Quarter earnings were Total Income of Rs. 65.93 Crore as compared to Rs. 44.52Crore and PAT of Rs. 4.61 Crore as against Rs. 4.51 Crore.

Source: Press release distribution via India PRwire

Hinduja Ventures Limited (www.hindujaventures.com)

Hinduja Ventures Limited (previously Hinduja TMT Limited) is the holding company of

one of the India’s largest integrated media company called IndusInd Media and Communication Limited (IMCL). IMCL is one of the largest multi system operators in the country. With over more than 5 million subscribers across 15 major cities, the Company offers 200 channels in the digital mode (it also offers about 90 channels in the analog mode, which are a part of the digital package). It has a backbone of over 6000 kms of fibre optic network through which it offers broad band services with national ISP license. Over and above Digital cable distribution, the company is also into content creation, acquisition & aggregation. IMCL has successfully implemented the first stage of CAS by installing over 180,000 set top boxes. The company is fully geared to meet the

subsequent phases of the CAS roll out as per Govt regulations. IMCL also runs a shopping channel ‘Shop 24/7’ through its associate company. ‘Shop 24/7 runs on IMCL network and through other satellite channels through out India and overseas. It currently has business in Middle East and Europe.

About Hinduja Group

Hinduja Group is an investment and banking group with a diversified global portfolio of

holdings across the manufacturing, services and banking sectors. The Group, founded by

Shri P.D.Hinduja in 1914 has activities across three core areas: Investment Banking, International Trading and Global Investments. It also supports charitable and philanthropic activities across the world through the Hinduja Foundation. As part of its Global investments, the Group owns businesses in Automotive, Information Technology,

Media, Entertainment & Communications, Banking & Finance, Infrastructure Project Development, Chemicals & Agri business, Energy, Real Estate and Healthcare.

To know more about the Hinduja Group and our Group Companies, please visit us at

www.hindujagroup.com.

Profit after tax for the year amounted to Rs. 7.78 crores as compared to Rs. 5.04 crores for the previous year, an increase of 54%.

Housing Loan Portfolio

The loan portfolio as at June 30, 2008 amounted to Rs. 1893.01 crores as against Rs. 1443.23 crores in the previous year – an increase of 31%. Healthy growth in disbursements has led to the growth in outstanding loan portfolio.

LENDING OPERATIONS

Loan Disbursements

Loan disbursements during the quarter were Rs. 196.99 crores as against Rs. 119.19 crores in the previous year, representing a growth of 65%. Cumulative loan disbursements as of June 30, 2008 were Rs. 3406.32 crores.

Non-Performing Loans

The gross NPA as at June 30, 2008 stands at Rs 32.78 crores or 1.73% (total loan outstanding portfolio of Rs. 1893.01 crores) as against NPA for the previous year at Rs. 33.17 crores or 2.30% of the outstanding loans.

GRUH is required to carry a provision of Rs. 6.02 crores in the Balance Sheet as at June 30, 2008 as per the guideline of NHB including the provision on standard assets in the non housing category. However, GRUH now carries a cumulative provision of Rs. 23.41 crore as at June 30, 2008 including the provision of Rs. 3 crore made during the quarter ended June 30, 2008.

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RETAIL NETWORK

GRUH Finance Ltd. ( A subsidiary of HDFC Ltd. ) opened 4 new offices during the quarter taking the total network of retail offices to 85 across 7 states of the country. GRUH has 29 offices in Gujarat, 25 offices in Maharashtra, 10 offices in Karnataka, 11 offices in Madhya Pradesh, 6 offices in Rajasthan, three offices in Chhatisgarh and one in Tamil Nadu.

Client base growth - During this quarter, Aztecsoft added 6 new clients with a good mix of mature players and emerging clients. The total active client count stands at 75 at the end of Q1-09. The client additions include a leading developer of global transaction-based tax calculation and compliance systems and application delivery Infrastructure Company, a pop TV channel, a mobile application development company, a large global electronics, gaming, entertainment and financial services company etc. The quarter saw a strong revenue growth coming from existing clients and partially from new clients added in this quarter.

Human capital growth – During the current quarter, the Aztecsoft’s most important asset, namely its human capital stands at 2,050 as at June 30, 2008.Blended offshore utilization is at 78% (excluding campus/trainees recruits) and at 70% after considering campus/trainees recruits for the quarter under review.

Strong & Liquid balance Sheet - Cash and cash equivalents stand at Rs. 74.35 Crores as on June 30, 2008 and account for 31+% of asset base as on June 30, 2008.

Acquisition by MindTree Limited - During the quarter, MindTree Limited announced its intention to acquire Aztecsoft Limited. MindTree expects to complete the open offer process by the end of July and Aztecsoft will thereafter become a subsidiary of MindTree.

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Aztecsoft is a Global Software Engineering Services partner for both established and early stage software product companies. We provide Full Lifecycle Product Engineering, Independent Testing, Professional Services and Sustained Engineering Services. We have helped several top tier Enterprise and Consumer software companies ship or put in production some of the most complex software in the world!

Division wise performance and highlights are as under:

During the first quarter of the financial year 2008-09, the Lubricants Division achieved a gross turnover of Rs. 126.34 Crores as compared to Rs. 81.15 Crores in the corresponding quarter of the previous year. The Division achieved a volume growth of 30% and improved product mix, resulted in an increase in margins by around 50%

The Lubricants Division stepped up distribution efforts and grew sales in the two wheeler segment. Consumer acceptance of the newly introduced products for this segment has been very encouraging. The media campaign released across TV channels – national & regional, communicated the product benefits of Gulf Pride 4T Plus – 10W 30. This enabled the Division to achieve rapid growth at the top end of the motorcycle segment. To build the brand proposition of “Endurance” the Division conceptualised and sponsored the “Gulf Overdrive Xtreme Endurance Challenge” where two Hero Honda Karizma motorcycles set a new record of travelling from Indian’s Southernmost tip -Kanyakumari to Khardungla(Leh) –World’s highest motorable road in 5 Days, 5 hours & forty-five minutes.

Focus on the diesel engine oil segment was continued as we introduced new product offerings for the light commercial vehicles – Gulf Cargo Power. Gulf Super Duty VLE for heavy commercial vehicles requiring CI 4 grade products was also launched. To increase acceptance of the range of ‘Ashok Leyland – Gulf Oil’ co-branded oils a press campaign, supported with outdoor media, was launched for Gulf Super Fleet LE Max - India’s First Long Drain Engine Oil with a drain interval of 36,000 km.

The Division organised a special series of events to create awareness of the partnership of Gulf Oil with Aston Martin Racing in India. On April 18th the actual car - DBR9 009, that raced at Le Mans – 2008 and won the GT1 category, was unveiled to the Indian media, sports enthusiasts at Mumbai, followed by a live pit-stop demonstration on April 19th.

The Lubricants Division also achieved considerable growth in the sale of ancillary products such as a wide range of Gulf Filters and Gulf Car-care products.

EXPLOSIVES DIVISION

The Explosives Division continued to make good progress in line with the increase in mining activities in the Country, and achieved turnover of Rs.53.21 crores in Q1 as compared to Rs.40.80 crores of corresponding quarter of the last year, representing double-digit growth of 30%. This was accomplished by focusing on non-coal, export and metal cladding segments. The trade market business segment also gave good returns.

Exports of the explosives and accessories have achieved growth of 20% compared to Q1 of the last year.

The Division is continuing its sustained efforts by expanding non-CIL and Metal Cladding and Special Products segments. Metal Cladding group is growing at a fast rate and recorded 174% growth over the Q1 of the last year.

The service income of the IDLconsult Division in the first quarter was Rs. 46.73 crores as against Rs. 33.71 crores in the corresponding quarter of previous year registering a growth of 39%.

Contributors to this growth were the three ongoing large coal mining contracts in the Singrauli region under Northern Coalfields Limited (a CIL subsidiary) and the Manuguru Project under Singareni Collieries.

The Division is successfully continuing its Mining services at the iron ore mines in the Barbil region with the Aditya Birla Group and other Companies.

The Division has started its first Manganese ore mining work with Adhunik Group in the Barbil.

In terms of volume of rock being handled, the Division has grown as the largest Mining service Provider in the country in a very short period due to its strengths in Mine planning, control and quality execution of projects awarded.

Besides total mining services, the Division has taken up a few assignments with plans to increase business in the fast growing infrastructure sector based on the successful execution of contracts in the Delhi Metro Rail Project, Structural works at Jamnagar under Reliance and at Outer Ring Road in Hyderabad. The Division has now contracted for large structural contracts from the Aditya Birla group for their new Alumina plant in Orissa. The work started in June 08.

Due to the high technical standard and quality of work, the Division is being offered various contracts in the Mining and construction Sectors. Currently the Division has about Rs. 900 crores value of orders booked.

The turnover of the Division for the quarter was Rs. 14.22 crores mainly on account of the Cephalosporins segment. Two more Cephalosporins namely Cefprozil and Cefditoren Pivoxil have been developed in the R&D and are ready for commercialization.

The Division has also commercialized Ondansetron, used for controlling Nausea following Chemotherapy. Two more products have been developed in the Laboratory and are ready for commercial production in early Q2.

Work on the IT Park on 40 acres on the Company’s property at Yellahanka, Bangalore has progressed well. Plans finalized by the architects have been sent to the corporation, approval of which is expected shortly. The joint development agreement for the property has been finalized. The construction work is expected to start once the relevant approvals are received.

The Hyderabad property development plans have also progressed and the approval from the Government for development is expected shortly.

In the meantime, the property bank of the Company comprising of 40 acres in Bangalore and 100 acres in Hyderabad which is planned to be developed has been revalued as on March 31, 2008 at Rs. 1839 crores.

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The earning per share was Rs. 2.60 in the quarter ended June 30, 2008, up from 2.57 in the quarter ended June 30, 2007.

“The pain of the slowdown still continues and the margins are under pressure even as we take steps to mitigate the effects and focus on addition of newer products. We expect to maintain our topline growth of 35-40% for the entire year and expect the pressure of inflation to ease in the last quarter of this year. We are hoping to see a decrease in international commodity prices in the 3rd quarter which should see our margin pressures easing” says Mr. N.K. Minda, Managing Director, Minda Industries Limited. MIL is the country’s largest manufacturer of switches in the 2/3 wheeler segment and is amongst the top few globally.

Minda Industries Limited (MIL) designs, develops and manufactures switches for 2/3 wheelers and off-road vehicles. It also manufactures lamps for automobiles (2/3 & 4 wheelers) and 2 wheeler batteries. The company recently bagged an Rs.50 crore order from Volkswagen for its lighting division. MIL is expected to commercially launch its 4 wheeler Batteries in the 3rd Quarter of this year and Blow Moulding facility near Bangalore will begin production in the last quarter of this financial year.

Minda Industries Limited has its manufacturing plants in Delhi, Gurgaon, Pune, Hosur, Baddi, Bidadi & Aurangabad and has over 2400 employees. Minda Group also has a manufacturing facility in Indonesia, looking after the booming ASEAN market.

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About NK Minda Group

NK Minda Group is India’s foremost manufacturer of a range of automotive components. The Group has an annual turnover of US $ 238 million (over Rs.1000 Crore) and is a leading supplier to Original Equipment Manufacturers.

The NK Minda Group product profile comprises of Switches for 2 / 3 wheelers & off roaders, Switches for 4 wheelers, Lighting, Battery, Blow Moulding, Horns, Alternate Fuel kits, Mirrors and Starter Motors & Alternators. Minda Group has joined hands with global leaders to constantly fine-tune its offerings and has some of the most reputed automotive component manufacturers as its joint-venture partners. These include Tokai Rika Co. Ltd., Japan, Fiamm S.p.A, Italy and Valeo of France.

Financial highlights: Q1 2008-09

- Net Revenues reached Rs. 404 Crores (US$ 96 Million), up 69% year over year.

- EBITDA reached Rs. 29 Crores (US$ 7 Million). As required by ‘Accounting Standard 11’ issued by ICAI, EBITDA for the quarter under review includes foreign exchange loss of about Rs. 14 Crores on liabilities repayable in foreign exchange. The Company being a net exporter is poised to benefit from the appreciation in US Dollar in subsequent quarters.

- The revenue earned from telecom solutions was Rs. 24 Crores.

- International sales showed a strong y-o-y growth by 106% to reach Rs. 153 Crores (US$ 37 Million), as compared to international sales of Rs. 74 Crores (US$ 19 Million) in Q1FY08. Sales to China, Africa & Middle East accounted for 78% of the total international sales.

Business Highlights: Q1 2008-09

- At the start of Q2 FY09, the Company has a strong order book of about Rs. 1,050 Crores (US$ 250 Million) for its telecom and power products, of which the export order book is about Rs. 310 Crores (US$ 74 Million).

- Sterlite received contracts valued at Rs 107 Crores from BSNL for manufacture and supply of fiber optic cables and copper telecom cables. These contracts are executable within the current fiscal.

- Sterlite launched it range of Aluminum Conductor Alloy Reinforced (ACAR) and has successfully Type Tested the same at TAG Corporation, India.

- Sterlite’s Optical Fiber facility at Aurangabad, India has been audited and recommended for the TL 9000 Quality Standard. Among the select group of global optical fiber manufacturers, Sterlite would become the 6th Company in the world to receive this certification.

- The Company won the TEMA National Telecom Award 2008 and was listed as the ‘Top Telecom Cables Company’ in India as per the annual V&D100 Survey.

Industry Overview

- As per CRU, a research agency in UK in H1 of 2008, there was an unprecedented global demand of 75 Million-km for optical fiber. This translates to an annualized CAGR of 22% for the years 2006 to 2008. In H1 of 2008, the demand of optical fiber in India was higher by 104% over that in H1 of 2007.

Mr. Pravin Agarwal – Director, Sterlite Technologies says, “We delivered a strong financial quarter during which we achieved several significant milestones. Through focused efforts in backward integration, development of application-oriented solutions, a glocalized market approach & an enhanced global customer footprint, Sterlite has transformed into a truly global, market-centric organization.”

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About Sterlite Technologies Limited

Sterlite Technologies Limited (formerly, Sterlite Optical Technologies Ltd) is India’s leading global provider of power transmission conductors, optical fibers, telecommunication cables and telecom integration & managed services. It is India's only fully integrated optical fiber producer and among the Top 5 global manufacturers of power conductors. Sterlite Technologies Ltd. is listed on the National Stock Exchange and Stock Exchanges at Mumbai and Kolkata. Sterlite Technologies has shown a consistent robust financial growth with CAGR of 75% in Net Revenues and CAGR of 115% in Net Profits for the period 2004-2008. The company has a world-class optical fiber manufacturing plant in Aurangabad, India, and telecom cable and power transmission conductor facilites in Silvassa and Haridwar, India. For more information, please visit www.sterlitetechnologies.com

Certain words and statements in this release concerning Sterlite Technologies Limited and its prospects, and other statements relating to Sterlite Technologies’ expected financial position, business strategy, the future development of Sterlite Technologies’ operations and the general economy in India, are forward looking statements. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of Sterlite Technologies Limited, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding Sterlite Technologies’ present and future business strategies and the environment in which Sterlite Technologies Limited will operate in the future. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, changes in government policies or regulations of India and, in particular, changes relating to the administration of Sterlite Technologies’ industry, and changes in general economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Sterlite Technologies’ control, include, but are not limited to, those risk factors discussed in Sterlite Technologies’ various filings with the National Stock Exchange, India and the Bombay Stock Exchange, India. These filings are available at www.nseindia.com and www.bseindia.com

Foundry's revenue for the second quarter of 2008 was $160.7 million, compared to $143.2 million in the second quarter of 2007, and compared to $150.1 million in the first quarter of 2008, an increase of 12% and 7% respectively. Net income was $18.3 million or $0.12 per diluted share, compared to net income of $15.6 million, or $0.10 per diluted share in the second quarter of 2007, and net income of $13.9 million, or $0.09 per diluted share in the first quarter of 2008.

Revenue for the first six months of 2008 was $310.7 million, compared to $279.1 million for the first six months of 2007, an increase of 11%.Net income for the first six months of 2008 was $32.2 million, or $0.21 per diluted share, compared to net income of $24.7 million, or $0.16 per diluted share, for the same period in 2007.

Included in Foundry's results for the second quarter of 2008 was $11.2 million of non-cash stock-based compensation expense.Excluding these expenses and the related tax effect, non-GAAP net income in the second quarter of 2008 was $25.3 million and non-GAAP net income per diluted share was $0.17 per share. Please refer to the table below for a reconciliation of GAAP to non-GAAP net income.

In the second quarter of 2008, North American non-Federal commercial revenue represented 58.2% of total revenue; a record for the segment, primarily due to increased revenue from service provider customers. Sales to Europe, the Middle East and Africa (EMEA) represented 14.8% of total revenue and were essentially flat in absolute dollars from the first quarter of 2008. Sales to Japan represented 3.1% of total revenue while the rest of Asia represented 6.6%. Sales to the U.S. Federal Government represented approximately 17.3% of total sales.

The Company's cash and investments balance was $950.1 million in the second quarter of 2008.During the quarter, the Company spent $15.7 million repurchasing 1.2 million shares of Foundry common stock at an average price of $12.84 per share. To date, the Company has spent $158.7 million to repurchase 10.0 million shares of Foundry common stock at an average price of $15.82 per share.

• Revenue breakdown: US Commercial = 58.2%, Federal = 17.3%, EMEA = 14.8%, Japan = 3.1%, Rest of Asia = 6.6%
• Technology breakdown: Layer 2/3 Switching = 50.7%, Internet & Metro Routers = 24.8%, Layer 4-7 = 8.6%, Support = 15.9%
• Chassis revenue = 71.7%, stackable revenue = 28.3%
• Enterprise revenue = 73.0%, service provider = 27.0%
• Total headcount as of June 30, 2008 = 1,068
• DSO = 63 days
• Book-to-bill was greater than one
• Gross margin improvement driven primarily by stable pricing and cost reduction

Click here to view the financial tables

Foundry uses non-GAAP net income and non-GAAP net income per share for internal planning purposes, to assess the results of its business on an ongoing basis, to determine management compensation, and for the convenience of analysts and investors. These measures are not in accordance with, or an alternative to, similarly-named measures under GAAP. The measures are intended to supplement GAAP financial information, and may be different from non-GAAP financial measures used by other companies. Foundry believes these measures provide useful information to its management, board of directors and investors regarding Foundry's performance when used in conjunction with GAAP information. Foundry believes it is useful to investors to receive information about how items in the statement of operations are affected by stock-based compensation, litigation settlement charges, the expenses related to the stock option investigation and restatement of the Company's consolidated financial statements and the related income tax effect.Stock-based compensation expense consists of expenses recorded under SFAS 123(R), "Share-Based Payment," in connection with awards granted under the Company's equity incentive plans and shares issued pursuant to the Company's employee stock purchase plan. The Company excludes stock-based compensation expense from non-GAAP financial measures because it is a non-cash measurement that does not reflect the Company's ongoing business and because the Company believes that investors want to understand the impact on the Company of the adoption of SFAS 123(R); the Company believes that the provision of non-GAAP information that excludes stock-based compensation improves the ability of investors to compare its period-over-period operating results, as there is significant variability and unpredictability across companies with respect to this expense. The Company also excludes legal, accounting and one-time employee compensation costs related to the stock option investigation and restatement of the Company's consolidated financial statements in addition to litigation settlement charges because these payments do not reflect the Company's ongoing business and the exclusion of these payments improves the ability of investors to compare its period-over-period operating results. However, investors should be aware that non-GAAP measures have inherent limitations and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP.

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About Foundry Networks

Foundry Networks, Inc. (NASDAQ: FDRY) is a leading provider of high-performance enterprise and service provider switching, routing, security and Web traffic management solutions, including Layer 2/3 LAN switches, Layer 3 Backbone switches, Layer 4-7 application switches, wireless LAN and access points, and metro routers. Foundry's customers include the world's premier ISPs, metro service providers, and enterprises, including e-commerce sites, universities, entertainment, health and wellness, government, financial and manufacturing companies. For more information about the company and its products, call 1.888.TURBOLAN or visit www.foundrynet.com.

Commenting on the results Mr. B. G. Jain, CMD, NTIL, said “The capex that we have undertaken would provide us the requisite boost for sustainable growth in the future. Work on the capex is being accomplished as per schedule. We are confident of tripling our market share from the present 2 per cent in the POY business on completion of capex.

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About NTIL

Nakoda is ISO 9001-2000 company where quality management is a continuous process and a way of life. The company was incorporated in 1984 and initially commenced business with one texturising machine, with a capacity of 354 MT, at Silvassa. The company’s funding included a seed capital of Rs 5 lakhs from IDBI that used to be extended to technocrats.

In order to expand capacity, the company came out with its right-cum- public issue of fully convertible debentures of Rs 950 lakhs in 1992. The issue in which 12000 investors participated was oversubscribed by 7 times.

Backward Integration & diversification

In 1997, NTIL added four lines for manufacturing POY by importing machines from Taiwan. This project was financed with term loans from GIIC and GSFC and internal accruals. In 1999, the company picked up plant and machinery of Garware Nylons at Pune through an open auction of The Bombay High Court. Few years later NTIL acquired 2 POY lines from Indian Organic Chemicals Ltd. These initiatives helped them to reach the present capacity of 30000 MT POY.

In 2007, Nakoda added six lines to manufacture 19500 MT of fully drawn yarn (FDY) at its Karanj plant near Surat. The Rs. 26.75 crore project was funded by Rs. 18 crore term loan and the remaining came from internal accruals. Commercial production started in November 2007.

NTIL’s plants are strategically located at Karanj in Surat district and are better placed to cater to their customers who are texturisers. 95 per cent of India’s texturisers are located in South Gujarat and Silvassa. Nakoda caters to the small and medium texturisers. The company has a 3 per cent market share in the POY segment and 20 per cent share in the FDY segment. POY and FDY manufacturing is highly capital intensive and are manufactured in hi-tech plants. The company has a headcount of 200 out of which 90 are workers.

Sound Management Quality

The management team is driven by experienced hands. The CMD –Mr. BG Jain is an MBA, with 30 years of experience in the industry. Helping him in his endeavour is Mr. D.B.Jain, Jt MD is an MBA with 6 years experience in this line. Mr. B L Maheshwari a Chartered Accountant with 24 years of industry experience and Mr. SK Bhoan a technocrat with 36 years of experience are independent directors on the board.

India’s Biggest Job Fair saw more than 50,000 jobseekers seek better paying jobs from more than 60 corporates participating at the event on the second day.

Over 7,800 candidates completed the process of job search from submitting resume to getting the offer letters in hand – all under one roof. Many candidates who could not appear for interviews with all the companies they wanted to yesterday, came again on the 2nd day of the fair. In addition, several thousand candidates have been shortlisted for second round interviews at the corporates’ offices.

Clients at Jumbo were extremely please with the turnout on the first day –

Mr. Amol Goswami, Manager, HR, India Infoline Ltd. was ecstatic about the Jumbo even in day 2 and remarked, “Perfect is the word. We are more than satisfied with the response from the candidates. We recruited over 300 professionals on-the-spot and shortlisted over 70% of them today alone. The response has been even better than yesterday. We expect to see more of such enthusiastic crowd on the last day also.”

Mr. Pankaj Gupta, Group Leader, NIIT Litmus added, “TimesJobs.com Jumbo Job Fair has provided us a lot of exposure to the market and has helped a lot in our employer branding. The response on Day 2 has also been good, as we are offering a test called TOEIC that is very crucial for the ITeS sector.”

Ms. Ruchika, at the Wipro BPO recruitment zone at Jumbo, informed that they had hired over 40 candidates on day 1 and more than 60 on day two as well.

Candidates were also charged and enthused at the Fair –

Deepak Tandon, who was hired by Caretel Solutions, remarked, “Good package, good company, and a great team to work with! TimesJobs.com gave me an opportunity to find the perfect profile that I was looking for. The Jumbo is a great chance for everybody who is looking for their dream career."

Kislay, engaged by India Infoline Ltd. said, “I feel on cloud nine, because I got a job with a leading finance company. Meeting so many recruiters under one roof not only gives candidates many options to choose from but also saves time and energy. The halls are air-conditioned and have a lot of place to rest so you never get stressed. I think The Jumbo is the best thing for anybody who is looking for a job.”

Chandan Singh, another candidate hired by the same company said, “I got to know about the Jumbo through the newspaper and decided then itself, that I would visit this event. Fortunately, I am not going back empty handed! I have an offer letter from India Infoline and I am really happy. Thank you TimesJobs.com Jumbo Job fair!”

The TimesJobs.com Jumbo Job & Professional Fair serves as India’s biggest platform for candidates to interact one-on-one with companies and be hired on-the-spot. In this mega-recruitment event, young minds will interact with best-in-class organisations like, Lambency Chrysalis, Genpact, Barclays, Godrej, Taj Hotels & Resorts, and a host of other blue chip companies.

The Jumbo is an unparalleled opportunity for jobseekers looking for better jobs, re-entering the workforce or just initiating their careers with over 60 top notch employers all assembled meet to hire across industries.

With so many companies and industries across the country expected to use this opportunity to recruit for all functions and levels and make brand statements to the prospective employees, the venue will have sections for IT, ITeS, Services, Professional Education and Others.

Source: Press release distribution via India PRwire

The TimesJobs.com Jumbo Job & Professional Education Fair 2008 comes with over 60 participating clients and 15,000 job openings. More than 1 Lakh jobseekers are expected to walk in over the 3 days.

Participating corporates, include reputed names like, Lambency Chrysalis-Academy of Beauty,Hair & Spa. (Floriana Group), Genpact, Barclays, SGI, Dubai Electricity and Water Authority, Fiserv India, Bonanza Portfolio Ltd., Max New York Life Insurance, Taj Hotels Resorts & Palaces, Godrej and Boyce manufacturing company limited, NIIT Smart Serve, Bank Of America, Holistik India ltd, Unity InfraProjects limited, India Infoline Ltd., Tavant Technologies, IBM Daksh, Greenfield Online, ICI India Ltd., First Select, High Technologies Solutions, Poly Plex Corporation Ltd, NIIT Litmus, Wipro BPO, Denave India Pvt. Ltd, The Mobile Store, Ducat, Caretel, Vision Next, Crestech Software, Maitri Solutions, Bajaj Capital, Core Database Systems, Miracle Technologies, THE MOBILE STORE, Godrej Infotech Limited, CMS Computers Institute, Y-Axis, BVG India Ltd., Smart Hire, S.O. Infotech pvt ltd, Manas Rekha Consultants, Aspire Human Capital Management Pvt Ltd., IDBI Bank, Teleman, Times Business Solutions Ltd.

Also, present at the event will be professional institutes that will be offering courses and training programmes to improve the skills and enhance the growth paths of job seekers. Some of the institutes that will be present at the Jumbo include - Mahan India, IHT Network Limited, TRITON, ICFAI, International College of Financial Planning, PCTI Group, Neptune Institute of management & Technology, IIFP, Skyline Business School, and Integrated Institute of Corporate Management.

Reasons To Visit Jumbo Fair:

• Largest Job fair of India
• Over 15,000 Jobs on the offer
• More than 60 Recruiters
• Jobs for experienced and freshers
• Offer letter within minutes
• You are free to visit company of your choice
• More CVs, More Jobs!

Jumbo’s historic facts:

• Over 550 companies have participated in the Jumbo Job Fair, since 2004.
• Over 5 lakh registered walk-ins at the Jumbo Fair, since 2004.
• Over 50,000 offers made at the Jumbo Job Fairs in Delhi.
• Over 730 job fairs, across sectors, in last 3 years across the country
• 550 participants in & over 6.5 Lakh Walk-ins across TimesJobs.com Job Fairs.
• Industry specific fairs for IT, Hospitality, ITES, BFSI, Retail, Aviation, Engineering, Pharma, Shipping, Education, Sales & Marketing etc.

According to Mr. R Sundar, CEO, Times Business Solutions Limited, “The overwhelming response that at the Jumbo Fair reaffirms our commitment to continue holding such events for job aspirants. The enthusiasm with which the job fair is being received throughout the country shows that India is going to emerge as the world’s premium source of quality manpower.”

The Delhi Jumbo Job Fair lived upto its name on Day 1 of India’s Biggest Job Fair seeing more than 40,000 jobseekers seek better paying jobs from more than 60 corporates participating at the event.

Jobseekers and employers, met up for instant closures on 6,000 candidatures, completing the process of job search from submitting resume to getting the offer letters in hand – all under one roof, several more were shortlisted for a second round of interviews at the corporates’ offices.

Clients at Jumbo were extremely please with the turnout on the first day –

An enthused Mr. Amol Goswami of India Infoline Ltd. remarked, “ We’ve never participated in the Jumbo, but with this experience will surely participate in future TimesJobs.com Job Fairs, the professionalism, support and sheer number of walk ins were impressive and we recruited over 100 professionals on-the-spot and shortlisted over 50 candidates today itself.”

Ms. Kavya Seth of Max New York Life Insurance added, “Footfalls on Day 1 were good, TimesJobs.com did a fine job of coordination and support, we are still calculating the sheer numbers of offers and shortlists we’re making, and expect to recruit many more in the next 2 days.”

Mr. Puneet Singh, Sr, VP, (Hiring), GENPACT said ” In terms of employer branding and awareness generation, The TimesJobs.com Jumbo Job Fair provided us an excellent opportunity. We were impressed by the crowd management, branding at the venue and management support, we’ve participated in TimesJobs.com’s Jumbo each time it has been held and our experience has been great. On the first day of the current Jumbo we’ve recruited more people than we’d expected.”

Candidates were also charged and enthused at the Fair –

Rebekah Jamir who obtained an offer form iEnergizer said “ The Jumbo Job Fair, is great, as it gives employment facilities for unemployed youth, I especially like the hospitality and organisation at the fair, and I feel very excited about my new career with iEnergizer.”

Mahtab Alam added, “The Jumbo is a really nice event, as it provides opportunities to appear for multiple interviews – It served as my starting point for my career in the retail sector with my job offer from The Mobile Store”

Excited, Chanpreet Gulati remarked, “ I got a surprise, by getting a job, with the first company I went for an interview. I got an offer letter by the first interview of my LIFE with Wipro BPO!

The TimesJobs.com Jumbo Job & Professional Fair serves as India’s biggest platform for candidates to interact one-on-one with companies and get hired on the spot. In this mega-recruitment event, young minds will interact with best-in-class organisations like, Lambency Chrysalis, Genpact, Barclays, Godrej, Taj Hotels & Resorts, and a host of other blue chip companies.

The Jumbo is an unparalleled opportunity for jobseekers looking for better jobs, re-entering the workforce or just initiating their careers with over 60 top notch employers all assembled meet to hire across industries.

With so many companies and industries across the country expected to use this opportunity to recruit for all functions and levels and make brand statements to the prospective employees, the venue will have sections for IT, ITeS, Services, Professional Education and Others.

The TimesJobs.com Jumbo Job & Professional Education Fair 2008 comes with over 60 participating clients and 15,000 job openings. More than 1 Lakh jobseekers are expected to walk in over the 3 days.

Participating corporates, include reputed names like, Lambency Chrysalis-Academy of Beauty,Hair & Spa. (Floriana Group), Genpact, Barclays, SGI, Dubai Electricity and Water Authority, Fiserv India, Bonanza Portfolio Ltd., Max New York Life Insurance, Taj Hotels Resorts & Palaces, Godrej and Boyce manufacturing company limited, NIIT Smart Serve, Bank Of America, Holistik India ltd, Unity InfraProjects limited, India Infoline Ltd., Tavant Technologies, IBM Daksh, Greenfield Online, ICI India Ltd., First Select, High Technologies Solutions, Poly Plex Corporation Ltd, NIIT Litmus, Wipro BPO, Denave India Pvt. Ltd, The Mobile Store, Ducat, Caretel, Vision Next, Crestech Software, Maitri Solutions, Bajaj Capital, Core Database Systems, Miracle Technologies, THE MOBILE STORE, Godrej Infotech Limited, CMS Computers Institute, Y-Axis, BVG India Ltd., Smart Hire, S.O. Infotech pvt ltd, Manas Rekha Consultants, Aspire Human Capital Management Pvt Ltd., IDBI Bank, Teleman, Times Business Solutions Ltd.

Also, present at the event will be professional institutes that will be offering courses and training programmes to improve the skills and enhance the growth paths of job seekers. Some of the institutes that will be present at the Jumbo include - Mahan India, IHT Network Limited, TRITON, ICFAI, International College of Financial Planning, PCTI Group, Neptune Institute of management & Technology, IIFP, Skyline Business School, and Integrated Institute of Corporate Management.

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Over 500 projects were showcased by more than 12 of the major developers, builders, and real estate agents participating at the event.

The exhibition had something for every one of the thousands of visitors –real estate projects both ready and under construction, residential and commercial properties were on offer all under one roof.

A very pleased visitor said, “MagicBricks.com India Property Show has a wide range of options of the best of properties from India to choose from. I think MagicBricks.com is doing an excellent job by organising such exhibitions outside India. I hope to find my dream home here today at the show.”

Reputed names that participated at the event included market leaders like Tivoli Group, Alliance Group, NRI City, Nirvana Nest, Nahar Group, Jaypee Green, Coral Group, Hindustan Buildcon, Jaipur Real Estate, Moashk Investments, and Vakil housing amongst others. Financial companies like HDFC Home loans and DHFL Housing were also present in the fair to provide finance options to the property seekers.

Speaking about the event, Mr. Anil Tandon, Executive Director, Tivoli Holiday Village said, "The response from the property seekers at the MagicBricks.com India Property Show was very good and positive. We saw many serious buyers walking into the event, who took interest in buying our properties. It was a well-planned event in terms of promotions and the way it was organised. We look forward to participate in such events organised by MagicBricks.com in future."

Mr. Vikas Wahi, Director, Hindustan Buidlcon Pvt Ltd said, "We got tremendous response from the NRIs and PIOs from Kuwait in the MagicBricks.com India Property Show ’08. The walk-in was qualitative as well as quantitative and fulfilled all our expectations. We would always like to be a part of MagicBricks.com’s property shows organised in India or abroad."

As the Kuwait city prepares to invest in the booming real-estate market, investors and individuals arrived at the fair in search of new projects, ideas and opportunities, and got what they were looking for.

Source: Press release distribution via India PRwire

Recent testing by Miercom evaluated over a dozen switches for power consumption. NETGEAR's ProSafe 48-port Gigabit Smart Switch was one of the few switches that consumed 90 watts or less at full utilization of all ports. According to Miercom calculations, this lower consumption produces a reduction in heat dissipation, which in turn helps reduce data center cooling loads and associated energy costs.

"We were pleased to find that the NETGEAR GS748T used even less energy than its specifications stated," said Miercom CEO Robert Smithers. "During our lab test of the device, we observed it drew only 75 watts at maximum capacity when the vendor rated the product at 90 watts.

Additionally, NETGEAR earned a top-three ranking among thirteen competing networking vendors in a study published by In-Stat titled, "Green Networking Equipment: Who Leads and Who Lags" (#IN0804265LS), which addressed the energy efficiencies of Gigabit Ethernet, fixed and managed Layer 2 and 3 switches. While In-Stat concluded that fixed-configuration 24- and 48-port switches vary by more than 600% in terms of switching capacity and respective electrical power usage -- as noted by Network World Magazine --NETGEAR's ProSafe 48-port Gigabit Smart Switch (GS748T) and 24-port Gigabit Smart Switch (GS724T) were among the select few products lauded for both high performance and power efficiency.

Mr. Atul Jain, said , "We're very proud and privileged that our 24- and 48-port Gigabit Smart Switches are credited for their distinctive energy efficiencies and being acknowledged as a leader in this area says volumes about our parallel dedication to achieve industry-leading switch performance and value, as well as environmental responsibility. We design our SMB networking products with intelligent power-saving capabilities at the top of our priority list, and are committed to continue doing so to develop competitive advantage in this arena.”

NETGEAR's ProSafe 24- and 48-port Gigabit switches are part of NETGEAR's growing family of Smart Switches that include no-cost management and maximum bandwidth and density -- providing industry-leading overall value. With 24or 48 10/100/1000 Mbps ports, each capable of powering 2000 Mbps of data throughput in full-duplex mode, plus four optional fiber ports, NETGEAR's switches provide a 96 Gbps backbone. Four hot-swappable Small Form-Factor Pluggable (SFP) slots provide optional fiber connectivity for greater distance. Advanced features include performance monitoring, security, port configuration, VLAN for traffic control, port trunking for increased bandwidth, and Class of Service (CoS) for traffic prioritization. NETGEAR's switches are specifically designed to consume less power for the entire networking ecosystem, which is essential for SMBs looking to reduce the total cost of ownership. More information on NETGEAR's commitment to energy efficiency and environmental responsibility can be found at: http://netgear.com/About/Environmental.aspx.

Source: Press release distribution via India PRwire

About NETGEAR, Inc.

NETGEAR (NASDAQGM: NTGR) designs technologically advanced, branded networking solutions that address the specific needs of small and medium business and home users. The company's product offerings enable users to share Internet access, peripherals, files, digital multimedia content and applications among multiple personal computers and other Internet-enabled devices. As an ENERGY STAR(R) partner, NETGEAR offers products that prevent greenhouse gas emissions by meeting strict energy-efficiency specifications set by the U.S. government. NETGEAR is headquartered in Santa Clara, Calif.

(C) 2008 NETGEAR, Inc., NETGEAR(R), the NETGEAR Logo, and ReadyNAS are trademarks or registered trademarks of NETGEAR, Inc. in the United States and/or other countries. Other brand and product names are trademarks or registered trademarks of their respective holders. Information is subject to change without notice. All rights reserved. Actual data throughput will vary from maximum signal rates stipulated. Network conditions and environmental factors, including volume of network traffic, building materials and construction, and network overhead, lower actual data throughput.

The company has reported a growth of 28.79 per cent in Net Profit After Tax at Rs 71.21 crore compared to Rs 55.29 crore in the last fiscal. The company has reported a growth of 32.39% per cent in Net Sales at Rs. 1500 crore for the year ending March 31, 2008 in comparison to the corresponding Net Sales of Rs 1133 crore for the last financial year ending March 31, 2007. The company has declared dividend of 30% for the year ended March 31, 2008. The Earning Per Share stood at Rs 13.37 per share compared to Rs 10.38 for the last financial year ending March 31, 2007.

MAN Industries (India) Limited reported Net Sales of Rs.410.69 crore for the quarter ended March 31, 2008 as against Rs 338.55 crore in the corresponding quarter last year. For the quarter ended March 31, 2008, the company has posted Profit after Tax at Rs 14.19 crore as against Rs 13.58 crore in the corresponding period of the previous year.

Source: Press release distribution via India PRwire

About MAN Group

MAN Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum.

The Company is a part of the well diversified MAN Group, growing under the able leadership of Shri. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread across globally with offices in U.K. and U.A.E. besides India.

The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).

During the year we added valued added products to our portfolio , this enhanced our delivery capabilities to our customers We are seeing early returns from these investments .We have established a framework to bolster our business operations and drive future growth and profitability," said Mr. B C Arya, Chairman JBF Industries Ltd.

Mr Rakesh Gothi, Managing Director added, "Our efforts in 2007-08 was centered on holistically capturing cost efficiencies in our domestic and middle east manufacturing facilities. .

Q4 Financial Summary

JBF Industries reported Total income of Rs 580.89 crores for the quarter ended March 31, 2008, as compared to Rs 479.57 the fourth quarter of 2006-2007. EBIDTA for the fourth quarter of 2007- 2008 was Rs 64.90 crores, this compares to Rs 52.17 crores, in the fourth quarter of 2007- 2008. Net Profit after Tax for the fourth quarter of FY 2007-08 was Rs 29.09 crores as compared to Rs 18.38 crores in the fourth quarter. EPS (Basic) for the fourth quarter of 2007-08 was Rs 4.84 as compared to Rs 3.35 for the third quarter.

Financial Performance for the Year 2006- 2007

Highlights

Increased revenue driven by expanded capacities and growth in demand

JBF Industries Ltd reported Total Income of Rs 2,109.69 crores for the year ended March 31, 2008, an increase of 41.75% as compared to the same period in the previous year. EBIDTA for 2007- 2008 was Rs 273.49 crores, this compares to EBIDTA of Rs 184.09 crores, in the 2006- 2007. Net Profit after Tax for FY 2007-08 was Rs 126.76 crores as compared to Rs 80.77 crores over the same period last financial year. Basic EPS for the 2007- 2008 was Rs 22.02 as against Rs 15.61 for the same period in the previous year.

JBF RAK

In the financial year, JBF RAK commissioned its PET Film production.

Merger & Acquisition

• The Company has acquired Microsynth Fabrics (India) Limited. Upon receipt of statutory approvals, the scheme will be given effect to in the audited financial results for the year ended March 31, 2008 and audited financial results will be accordingly restated. With this, the Company will add capacities for high value specialty yarn. This acquisition would facilitate further expansion of the Company’s portfolio. This acquisition will synergies productivity and enhances JBF’s existing economies of scale.

Microsynth’s core competency lies in producing ‘Specialty Yarn’. There are very few market players in this field and thus the company has a good potential in synthetic fiber industry. The major markets are India, Europe, and Middle East. Around 80 % of production is exported

Consolidated Results

The company announced its consolidated results. The subsidiaries, which are consolidated, are JBF Global Pte Ltd (Singapore) and JBF RAK FZ LLC (United Arab Emirates).The financial results of JBF Global Pte Ltd, Singapore have been prepared by following Singapore Financial Reporting Standards. The Financial results of JBF RAK FZ LLC, United Arab Emirates have been prepared by following International Financial Reporting Standards and are unaudited.

The consolidated results reported Total Income of Rs 2,751.55 crores for the year ended March 31, 2008, as compared to Rs 1488.31 in the same period in the previous year. Consolidated EBIDTA for 2007- 2008 was Rs 295.87 crores, this compares to EBIDTA of Rs 182.19 crores, in the 2006- 2007. Consolidated Net Profit after Tax for FY 2007-08 was Rs 121.90 crores as compared to Rs 79.53 crores over the same period last financial year. Basic EPS for the 2007- 2008 was Rs 21.18 as against Rs 15.37 for the same period in the previous year.

Source: Press release distribution via India PRwire

About JBF Industries Ltd

JBF Industries is the largest producer of textile grade polyester chips in India and amongst the top three players in manufacture of POY. It has undertaken expansion plans successfully in the last two years with all its plants running at near 100 % capacities. It has also set up a JV in United Arab Emirates to produce polyester PET resin packaging and polyester films. JBF Industries Ltd with its existing expansion in is expected to grow to over a billion dollars by 2008 - 2009.

Annual Results for FY 2007 – 08:

Net sales for the year rose by 26.5% to Rs.2545.52 crores as compared to Rs. 2011.68 crores for FY 06 – 07. EBIDTA for the year also registered an increase of 34.6% at Rs.238.29 crores compared to Rs.177.02 crores last year. Clocked PAT of Rs.3.02 crores for the year, down by 85.4% compared to last years 20.64 crores. Exports recorded a phenomenal 69635 MT a growth of 111.15% over the previous years’ 32979 MT.

Q4 Results:

IRSL Q4 net sales stood at Rs.644.17 crores, higher by 5.02% as compared to Rs. 613.36 crores in the corresponding period last year.

Commenting on the Results, Mr. O.P. Lohia, Chairman and Managing Director, IRSL said, “Our performance during the year, especially in the second half of the year, was impacted by lack luster performance of the textile Industry which impacted polyester demand and margins. In spite of that we have registered a healthy top line growth. Polyester demand has been robust over the first quarter of this fiscal, a healthy change in the environment today. With robust environ of the textile sector both in domestic and export sector, and with stable input prices, I believe the polyester industry is in a sweet spot and poised for strong growth. I look forward to improved performance, both in top line & bottom line, going forward.”

The Board of Directors of the Company at their meeting held today declared an annual dividend of 10 %, i.e. Re. 1.00 per equity share.

With a growing consumption across all sectors and with buoyant demand in both domestic and exports of Indian textile, the future augurs well for strong, cost efficient large-scale polyester producers.

Source: Press release distribution via India PRwire

About Indo Rama Synthetics (India) Ltd.

Indo Rama Synthetics (India) Limited was established in India in 1992 with a commitment to quality and customer satisfaction. It’s exposure to international operations gives it a competitive edge in adherence to global standards. With the recent expansion, Indo Rama’s Butibori plant has become one of the largest single-location plants in the world, producing around 6,00,000 tonnes per annum of Polyester Staple Fibers, Filament Yarns, and Textile grade Chips.

The annual global revenues of Ramco Systems Ltd for fiscal 2007-08, including revenues from subsidiaries in USA, Switzerland, Singapore, Malaysia and South Africa stood at USD 50.66 m as against USD 48.36 for the previous fiscal. In terms of revenue contribution, US operations accounted for 37% followed by India with a share of 30%. India and Switzerland were the primary revenue drivers with growth rates of 54% and 11% over the previous year.

The net profit for the year, after accounting for an exceptional income of USD 15.01m, stood at USD 2.61m.

The strategic initiatives conceived and nurtured during the earlier fiscal (’06-’07) blossomed into the pioneering launch of Ramco OnDemand ERP – India’s first comprehensive ERP delivered as a service (Software as a Service) in January 2008. This powerful ERP software service addresses the needs of growing businesses across multiple verticals and is sold and served through an ecosystem of sales and implementation partners. Buoyed by the excellent pan-India success, the company is planning to launch this service in the international markets very soon.

Commenting on the results, Mr. P.R.Venketrama Raja, Vice Chairman, Managing Director & CEO, Ramco Systems said,” The year has been remarkable on multiple fronts. Ramco successfully pioneered Ramco OnDemand ERP - India’s first comprehensive ERP delivered as a service (Software as a Service) and also ventured into the value-added business process outsourcing business. The company enhanced its focus on its core business of providing innovative business solutions that leverage Ramco VirtualWorks and divested its networking business. These focused initiatives coupled with tighter cost management has enabled the company to grow and turn profitable. With relevant expertise and experience, Ramco is now well positioned to leverage global opportunities and grow rapidly”.

The company has won many strategic orders from across the world in Aviation, Logistics, eGovernance, Banking, Insurance and Manufacturing. Ramco’s value-added BPO business processes close to 1000 payrolls every day and this is expected to rise exponentially in the coming months. These projects are long term engagements and would bring in predictable and sustainable revenues over the medium term.

During the year, Ramco Systems has successfully ventured into emerging verticals such as infrastructure development, retail, education and 3rd party logistics with notable order wins. On the quality and process front, the company has rolled-out multiple programs and training targeted at improving efficiency and strengthening leadership within the organization.

Source: Press release distribution via India PRwire

About Ramco Systems

Ramco Systems, part of the USD 600+ million Ramco Group, has delivered enterprise software and services since 1989. Today, Ramco is a global provider serving over 100,000 users with more than 1,800 employees operating out of 18 offices in 9 countries.

Ramco Systems develops cost effective, flexible and innovative enterprise applications that can be deployed fast. It helps businesses respond to change swiftly. The company provides solutions to multiple verticals including banking, insurance, manufacturing, supply chain, aviation, transportation and logistics, healthcare, governance, retail and more. Ramco’s collaborative solution innovation platform - Ramco VirtualWorks ensures that when your business changes, your system changes too.

Ramco Systems has been certified for ISO 9001:2000 quality standards, ISO 27001 security standards and assessed at SEI CMMi - SW Level 5. For more information, please visit www.ramco.com

Net sales for FY 07-08 was Rs 7.1 billion, from Rs 10.5 billion a year ago, due to the demerger of the non logistics business.

Consolidated net sales of Sical’s core logistics business was Rs 6.8 billion, up 1.6% from Rs 6.7 billion a year ago.

The prior period items relate to tax adjustments in FY06-07, while the exceptional items relate to the net impact of the disposal of the non-logistics businesses like auto components unit, specialty chemicals, refractory unit and unrealized gain on restatement of foreign currency convertible bond loan and deposits.

Consolidated cash reserves, as of 31 March 2008, were Rs 2.71 billion; total debt stood at Rs 6.85 billion.

Comment by Sical Logistics Chairman, Mr. Ashwin Muthiah

On the FY ‘08 results, Sical Chairman Ashwin Muthiah said, “We are pleased to report steady business growth for FY 2008. We successfully executed our strategy of focusing on our core logistics business with the demerger of the non core business and the separation of the service and infrastructure business. This ensured dedicated management focus and helped us leverage the true potential of each business.”

“Our infrastructure projects are progressing smoothly. Over the next 2 years, most of the special purpose vehicles (SPVs) will commence operations and we envision robust growth and enhanced profitability for the Group in the long term.

We remain committed to our vision of making Sical a billion dollar company by 2012 and will continue with our efforts to enhance value for our stakeholders.” added Mr. Ashwin Muthiah.

Restructure of Sical Group

· In May 2007, Sical formed a subsidiary, Sical Infra Assets Ltd, to house the company’s asset-heavy, capital-intensive, longer gestation infrastructure based businesses like the Container Rail Project, the Container terminals at Tuticorin and Chennai in joint venture with PSA Singapore, Sical Iron Ore Terminal at Ennore, Sical Distriparks and Road and Rail terminals at Nagpur. The short cycle service oriented businesses and the asset heavy infrastructure businesses of the company were segregated to crystallize the value of investments made by Sical into its SPVs.

Demerger of Non Logistics business

· In January 08, Sical received the sanction from the Madras High Court for the de-merger of its non logistics business into a wholly owned subsidiary, Sicagen India Limited, with effect from 1 October 2006. The approval marked the successful completion of the de-merger process initiated by Sical in early 2007, and was an important step in the company’s restructuring efforts.

• The company sold its non-core businesses in FY 2007-’08, namely the manufacturing facilities and assets of the auto components division, Indrad Auto Components and the other non logistics businesses of refractory, specialty chemicals and flexible shafts.

Board appointments

• The Sical Board was restructured to include one promoter nominee director, two nominee directors, four independent di