Vakrangee Softwares Ltd. (VSL), the leading integrated document management and printing management solutions provider that is spearheading the Government’s e-Governance drive, informed the Stock Exchange about Merrill Lynch increasing holdings in Vakrangee Softwares to 7.72%. The total FII holdings in Vakrangee Softwares Limited has summed up to 39.49 %.

As of Februray 16, 2008, FIIs have acquired 75 lakhs shares representing 39.49 % of the share capital. Premier global institutions such as Morgan Stanley and Co. International Ltd. (9.73 %), Goldman Sachs Investments (Mauritius) I. Ltd. (9.51 %) and Merrill Lynch Capital Markets (7. 72 %) have crossed the significant 5% holding mark. Other FIIs holding stake include CLSA Mauritius Limited (4.51%), Deutsche Securities (Mauritius) Limited (2.37 %), Melchior Indian Opportunities Fund (2.09 %), Himalayan Fund N. V. (0.65 %) and Planetary (Mauritius) Limited (0.52 %).

Holding of Indian Financial Institutions have also increased to 9 lakhs shares representing 4.80% of the share capital. Indian Financial Institutional holding includes Prudential ICICI Trust Ltd. (1.60%), HSBC Assets Management (1.25 %),Axis Bank Ltd. (1.13%), ING Vysya Mutual Fund (0.50%) and DSP Merill Lynch Trustee Co Pvt. Ltd.( 0.32%).

Commenting on the development of the company, Mr. Dinesh Nandwana, Chairman and Managing Director, Vakrangee Softwares Limited, said, “With our strong positioning in the government and e-Governance sector, we are also successfully tapping private and high growth sectors like Telecom, Insurance, Financial services and Retail. We have also ramped up our capacity by placing order on Eastman-Kodak for acquisition of a state of art ‘Variable Data Digital Colour Printing Facility’ from 2.4 million pages per day to 4.8 million pages per day.”

Vakrangee Softwares registered a jump of 106.71% in its net profit to Rs 13.53 crore for the quarter ended December 31, 2007, as compared to Rs 6.54 crore in the corresponding quarter last year. The gross turnover of Vakrangee Softwares Ltd. during Q3FY08 shot up by 92% to Rs 60.21 crore as compared to Rs 31.36 crore in the corresponding period for the last fiscal. The Board of Directors in the Board Meeting held on announced the unaudited results for the quarter ended December 31, 2007.

The Basic Earnings per Share for Q3FY08 shot up to Rs 7.06 from Rs 3.42 for the same period during the last fiscal. The Diluted Earnings Per Share for Q3FY08 stood at Rs 6.32 as against Rs 3.06 in Q3FY07.

Vakrangee Softwares Ltd. registered a jump of 130.81% in its profit to Rs 31.83 crore for the nine month ended December 31, 2008 as compared to Rs 13.79 crore in the corresponding period last year. Gross Turnover for the same period grew by 90% to Rs 149.25 crore as against Rs 78.52 crore during the nine month ended December 31, 2006.

Sourced From: Adfactors Public Relations Pvt Ltd

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