Persistent Systemsis a Pune based mid size IT company concentrating in
Cloud Computing/SaaS, Analytics, Enterprise Mobility and Enterprise Collaboration Services …etc. This debt free ,cash rich IT player performing reasonably well even in tough times of IT sector. Company having offshore development centers in Pune, Nagpur, Goa and Hyderabad. Companyas customer list includes biggies like Microsoft and Oracle.About 50% of the total income of the company is generated from independent software vendors and 25% from telecom related sectors. One of the biggest advantage of this company is that ,it is earning more than 85% income from the services delivered from India
Key Highlights: in the press release of this quarter results were
i Revenue for nine months ended December 31, 2012 was US$ 175.71 Million, representing a
Y-o-Y growth of 14.7%.
i Profit after Tax (PAT) for nine months ended December 31, 2012 was 1,357.33 Million,
representing a Y-o-Y growth of 35%.
i IP-led business constitutes 17.1% of the revenue for nine months ended December 31, 2012.
i Utilization improved Q-o-Q by 1.8% to 79.5%.
i Acquired Novaquest, a Product Lifecycle Management (PLM) and Search Based technology
solutions company thereby entering into a strategic partnership with Dassault Syst*mes to sell
and offer support, maintenance and deployment services as an authorized VAR for Dassault
Syst*mesa in the United States.
i Declared an interim dividend of 6 per share (Payout ratio 20.55%) for the Financial Year
2012-13, as against a total dividend of 6 per share (Payout ratio 19.67%) for the Financial Year.
Hitesh,ayush,donald ,is it a good buy for core long term portfolio?