Portfolio

52-Week Flop: Geodesic

K. Venkatasubramanian | Updated on November 15, 2017 Published on May 26, 2012

The stock of Geodesic has been battered over the past one year, even as many mid-tier IT companies witnessed a spike in their share prices.

Of course, the company is not strictly a services player but provides instant messaging platform for a range of devices such as mobiles, desktop, laptop and smart phones. Geodesic also offers TV and radio services for mobile devices. This apart, the company has developed an electronic handheld device which has uses in segments such as e-governance, financial inclusion and the like.

Geodesic was growing financially at a healthy pace till FY12, when its growth slowed down. In 2011-12, the company saw its revenues increased by 9.7 per cent over FY11 to Rs 958 crore, while net profits fell marginally to Rs 271 crore.

It is a strange case of a company that trades at just about its earnings per share levels, though it continues to have reasonable flow of deals. Geodesic's Mundu TV has been integrated with Omnesys trading platform. It has also signed deals with Huawei.

It has made significant strides in projects involving the sale of its GeoAmida product — a handheld terminal.

For example, it has tied up with banks such as SBBJ and SBP in the area of financial inclusion. It has also signed agreements with the likes of TCS and HCL to help them roll out financial inclusion projects.

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