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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (5815)	8/24/1999 5:33:00 PM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

IPO-Fortune Informatic Ltd. Question of fortune Fortune Informatics Limited (FIL), a profit-making company engaged in design, development and marking of software products, and in implementation of projects for the domestic market is launching a public issue of 21,00,000 equity shares, of Rs 10 each for cash at par aggregating Rs 210 lakh. Fortune Information Ltd (FIL) was incorporated on July 24, 1990 as Fortune Office System Pvt Ltd under the Companies Act, 1956. The name was subsequently changed to Fortune Informatics Pvt Ltd and converted into a Public Limited Company through a resolution in February 1999. The company is promoted by Y V Prasad, C K Shastri and B S Sunil Kumar. During the year 1997-98, FIL shifted its focus to software development and services from its business of trading of computer hardware and office automation equipment's, and emerged as a forerunner in product development, offering turnkey software solutions to the Andhra Pradesh government. FIL's PAPYRUS which was launched in January '99, for CARD (Computer-aided Administration of Registration Department), project has been successfully implemented in 214 offices in AP. The product is already use by prestigious clients like Siemens, L&T LIC RBI etc. In addition to this, the company's major areas of business are Document Management System, Interactive Voice Response Solutions, Software Projects, Product and Services related to DMS and database management services (DBMS). Its usage of domain expertise in any project development allows the company to access new technologies. FIL has developed enormous amount of domain expertise through its R&D and is providing expertise domain solutions for office automation requirement analysis, computer telephony integration, intranet/Internet technologies, pattern recognition, bar code recognition, RDBMS, OCR/ICR technologies for technology engineering and more. The company has obtained the ISO 9001 certification for its design, development, implementation, upgradation and maintenance of software products and projects. A look at orders in hand reveals that presently, FIL has got an order of around Rs 97.56 lakh from seven clients which include RBI, Govt of Andhra Pradesh, DRDL Hyderabad, Siemens etc. The financials of the company reveal that from 1994-95 to 1998-99, the income of the company has increased at a Compound annual Growth Rate (CAGR) of 42.19 per cent. Profit after tax (PAT) increased at a CAGR of 79.76 per cent over the same period. The Net Current Assets of the company over five years have shown a northward direction. The earning per share (EPS) of the company over the same period has gone down, due to the increase in outstanding shares. Percentage return on Net Worth and Net Asset Value per share has also gone down over the period in consideration from Rs 12.58 (1994-95) to Rs 5.69 (1998-99) and Rs 19.84 (1994-95) to Rs 9.34 (1998-99) respectively due to the same reason given above. Given the performance and history of the company,it may be a good option for investors who are looking for short to medium term investments. hindustantimes.com