SSI has progressed in its quest to emerge as one of the top IT solutions company globally with a healthy revenue mix from SSI Education and SSI Technologies. From a revenue of Rs 41.89 cr for 1997-98 to Rs 197.52 cr for 1999-2000, it has exhibited a more than three-fold increase in top line and posted a more than 100% growth each year. The company operates under two core groups of education and technology. The educational network grew to 435 operational centres and 125 centres are slated to become operational this year. This will expand the presence with new centres in Singapore and Malaysia. An agreement was finalised for franchisee centres for setting up centres in Seoul and the rest of South Korea. SSI Technologies, the company’s software arm, for the quarter ended Sep.2000, added 18 new accounts taking the number of active clients to 36. Four clients contributed to over 5% of the revenues each and revenues from the Top 5 clients accounted for about 38% of total revenues.

On the financials front, for the year ended Jun.2000, the company recorded a sales of Rs 197.52 cr showing a increase of 133% over the previous period. Net profit increased by a whopping 215% to Rs 56.94 cr. During the quarter ended Sep.2000, the company posted sales of Rs 101.53 cr, an increase of 195% over the corresponding previous quarter. The net profit increased by 308% to Rs 27.57 cr.

SSI is setting up two wholly-owned subsidiaries in Australia and Singapore. It acquired AlbionOrion Company (AOC)in Sep.2000. The stock-cum-cash deal, valued at US$63.65 mln, will position SSI as a global IT solutions company. AOC has operations in Atlanta, Minneapolis and Chicago in the US with a Fortune 1000 client base. It has domain expertise in telecommunications, healthcare and insurance and provides solutions for SCM, CRM and ERP. AOC has 35% stake in AlbionConnect which offers OSS telecom products. This acquisition will enable SSIT to leverage ODC/PDC delivery capabilities. The September quarter saw a number of projects completed like Clearstream [phase I], ASTD SABA [phase III & IV], Netfinex, Hyperion, Planet Poker and NASDAQ Japan.