We would like to highlight India Globalization Capital, Inc. (AMEX: IGC). The company is a US-based company developing infrastructure in India through its majority-owned subsidiaries, Sricon Infrastructure Private Ltd. and Techni Bharathi Ltd. On March 7, 2008 the company acquired 63% of Sricon Infrastructure and 77% of Techni Bharathi. The company, through its subsidiaries, has three core businesses: 1) highway and other heavy construction, 2) mining and quarrying, and 3) civil construction and engineering of high-temperature plants.
In the company’s recent news,
India Globalization announced a good set of results for the fiscal year ending March 31, 2008. The company’s two subsidiaries combined reported revenues of $32.9 million and earnings of $4.4 million. The company’s CEO Ram Makunda said, “On a pro forma basis, our combined subsidiaries increased revenue by over 100% year-over-year with expanding margins.”
India, of course, is one of the BRIC countries with a booming economy and a huge population. It is well known that India is lagging behind China in building their infrastructure, and that India is sorely in need of infrastructure throughout the country. Since India Globalization is an infrastructure company in a country with tremendous demand for infrastructure, the demand for the company’s services is expected to grow nicely.
India Globalization’s order book does seem to be filling up. CEO Ram Makunda stated, “Based on our current order book, we expect record revenues and earnings and reaffirm our guidance for the fiscal year ending March 31, 2009 of revenue between $110 million to $125 million and earnings between $7 million to $9 million, before any one-time or non-cash charges.”
About QualityStocks
QualityStocks, based in Scottsdale, Arizona is a free service that collects data from hundreds Small-Cap and Micro-Cap online Investment Newsletters into one Free Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their advertising efforts and now has over 500,000+ subscribers that receive The Daily Stock Newsletters.
To sign up for “The QualityStocks Daily Newsletter” please visit http://www.qualitystocks.net/
Please see disclaimer on QualityStocks website: http://Disclaimer.QualityStocks.net
Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
