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SSI top brass to discuss future plans on Tuesday

NetScribes/Salil Panchal

The SSI top brass is scheduled to meet with leading fund managers and business associates on Tuesday to discuss the company's future business strategy and overall business outlook. Interestingly, the meeting coincides with the company's tenth anniversary.

To be held at SSI's Madras headquarters, the meeting will involve presentations from all the top departments of the company, including SSI Education and SSI Technologies, as well as businesses coming through various subsidiaries like Indigo, Clientsoft and Netfinex.

Key brokerages such as DSP Merrill Lynch, Credit Lyonnais and CSFB are likely to attend the meeting. Leading mutual fund houses such as Prudential ICICI, Templeton (India) and Birla Mutual Fund are also likely to be there.

"We will discuss not just what we have achieved over the past decade but our future strategies as well," a senior SSI official told NetScribes.

One of the key success stories has been SSI's education business. Compared to the six software education centres it had in 1995-96, the division now boasts of 450.

Gross margins for the education business on an annualised basis for the year ending June 2001 is estimated at Rs 560 million; in the year ended June 2000 the figure stood at Rs 484 million. The international training and content development business is also expected to improve dramatically during fiscal 2001-02.

Revenues from Nasdaq-related businesses, which stood at Rs 155 million for FY2000, are likely to touch Rs 465 million in FY2001.

SSI has also recently completed its acquisition of high-end IT solutions company AlbionOrion, which will become an overseas division of SSI by March 2001. Albion's client list includes Motorola, Carey International and General Mills.

On Monday, the SSI scrip closed at Rs 1,171 on the Bombay Stock Exchange, up 4.86 per cent from its previous close of Rs 1,116.7. The counter saw trading in 2.5 million shares.

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