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03 July 2009 EdServ Softsystems hardens on new order win

EdServ Softsystems was locked at 5% upper limit at Rs 39.50 at 11:28 IST on BSE, after the company bagged an order from the Mother Teresa University.

The company announced the new order win after market hours on Thursday, 2 July 2009.

Meanwhile, the BSE Sensex was up 8.57 points, or 0.06%, 14,667.06.

On BSE, 55,827 shares were traded in the counter. The stock had an average daily volume of 75,634 shares in the past one quarter.

The stock hit a high of Rs 39.50 and a low of Rs 38.50 so far during the day. The stock hit a 52-week high of Rs 147.90 on 3 March 2009 and a 52-week low of Rs 18.70 on 1 April 2009.

The small-cap stock had outperformed the market over the past one month till 2 July 2009, gaining 46.21% as compared to the Sensex's 1.45% fall. It had also outperformed the market in the past one quarter, surging 74.31% as compared to the Sensex's return of 41.64%.

The company's current equity is Rs 12.01 crore. Face value per share is Rs 10.

The current price of Rs 39.50 discounts the company's Q4 March 2009 annualized EPS of Rs 5.40, by a PE multiple of 7.31.

The company has bagged an order from Mother Teresa University, Kodaikanal, Tamil Nadu to implement the in-campus academic and placement support programme (EdCademy) from the academic year onwards.

EdServ charges Rs 3000 for each student login for unlimited access to various engines of EdCademy system per academic year. The company plans to sign up 200 more colleges with an average of 1000 logins per college to implement EdCademy in-campus online system by March 2010.

The company said it it targeting 300% growth for the year ended March 2010 with an estimation of 200 new in-campus EdCademy implementations in colleges / universities.

EdServ Softsystems' net profit rose 45.8% to Rs 3.69 crore on 114.5% jump in net sales to Rs 8.45 crore in the year ended March 2009 over the year ended March 2008.

EdServ provides integrated learning and placement solutions, customized software solutions and placement consulting to clients in the field of IT and non-IT verticals.

(C) 2009 EdServ Softsystems Limited, Chennai, India.