Aegis, the business process outsourcing and information technology company from the Essar Group, is aiming to be a $2-billion company in the next three years.
Having closed 2011-12 revenue at $1 bn (Rs 5,300 crore), it said the next $1bn top line growth would come through the organic (internal growth) route. “We are confident we will be able to maintain a 26 per cent compounded annual growth rate for the next three years to attain this target. We also believe the company will be a $4-bn company in the next five years, but for this we will look at the inorganic (acquisitions) route,” said Aparup Sengupta, managing director and chief executive officer.
The company is confident that despite a difficult macro environment, there is still room for growth. "We see tremendous growth from markets like the Middle East, Africa, Asean and also from mature markets. The focus in North America has been to get additional wallet share from the existing client base," said Sengupta.
He added they were aiming to get a wider investor base, for which they were in talks with private equity firms and bankers. “Before an IPO (public share offer), we would like to have strategic players on board. We are comfortable on diluting 20-25 per cent stake in the company. We should be able to close this transaction by the end of this calendar year,” he said.
When asked if the promoters were looking for an exit, Sengupta said, “After a strategic sale and an IPO, the promoter shareholding will come down. Essar Group has always wanted to play the role of an operating entrepreneur and they have successfully done that. It is time for us to deliver share value and that would be to take the company to the public market.”
AGC Networks, listed subsidiary of Aegis, reported its financial results for the fourth quarter and full year ended March 31. Net profit jumped almost three times to Rs 23.5 crore from Rs 7.5 crore in the same quarter the year before. Revenue at Rs 303 crore grew 56 per cent from Rs 194 crore on a year-on-year basis.
“We have seen impressive growth in the year and will keep the momentum going through our well-defined growth strategy. We are expanding our presence in other geographies of the US, ANZ (Australia-New Zealand), Philippines, and MEA (Middle East/Africa) regions. Most of the revenue has come from the domestic market, but we do see traction picking up in markets like the US and UK,” said S K Jha, managing director and CEO.
For the full year, net profit was Rs 63.4 crore from Rs 29.2 crore in the earlier year. Acquired last year, it reported full-year revenue of Rs 998 crore.
The board of directors of AGC Networks have approved sale of 5.7 million equity shares in Aegis at Rs 170 each to AGC Holdings.
Source : BS
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