India is one of the fastest growing economies in the world. With a large population and constant technological expansion, India’s infrastructure needs are growing on a daily basis. India Globalization Capital (AMEX: IGC) is strategically positioning themselves at the core of India’s economy. IGC has three core competencies:
- Highway and other heavy construction
- Mining & quarrying
- Civil construction and engineering of high temperature plants.
Here is the latest podcast on what is happening at IGC:
IGC has proven a solid financial model with consistent increases in revenue. Below are some of the latest revenue highlights:
- Revenue for the 2008 June Quarter was approximately $17.9 million compared to pro forma revenue
of $3.3 million for the 2007 June Quarter, an increase of 441%; - Operating Profit for the 2008 June Quarter was approximately $3.6 million compared to a loss of
$59 thousand for the 2007 June Quarter (combined predecessor companies); - Net Income for the 2008 June Quarter was approximately $1.29 million compared to a loss of
approximately $465 thousand for the 2007 June Quarter (combined predecessor companies); - Basic and Fully Diluted Earnings for the 2008 June Quarter was $0.15 per share and $0.14 per share
respectively; and - Total backlog at June 30, 2008 was approximately $362 million. Since June 30, 2008, the Company
has announced approximately $20 million in additional new contracts bringing the current total
backlog to $382 million.