Mumbai : Accel Frontline Ltd. the Chennai headquartered subsidiary of CAC Holdings Corporation, Japan (Formerly CAC Corporation) has announced today that its consolidated turnover increased by 39% during the quarter ended 31stMarch 2014 to reach Rs.136.06 Crores compared to Rs.98.01 Crores during the same period in the previous financial year. For the full year under review, the revenue increased from Rs 401.38Crores to Rs. 426.50 Crores. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) increased by 22.31% to Rs. 40.6 Crores as compared to Rs. 33.25 Crores a year ago. Even after incurring an increased finance costs at Rs.24.41 Crores compared to Rs.19.95 Crores and Depreciation charges of Rs.11.07 Crores, the profit after tax stood at 4.49 Crores for the full year compared to Rs 1.19 Crores, registering a growth of 277%. The company turned around its operations during the quarter, registering a profit after tax of Rs.1.75 Crores for the 4th quarter compared to a loss of Rs. 1.74 Crores during the same period last year.
Highlights of the Performance are:
| Particulars | Q4 FY 14 | Q4 FY 13 | Change % | Annual FY 14 | Annual FY 13 | Change % |
| Net Revenue | 136.06 | 98.01 | 38.77% | 426.50 | 401.38 | 6.13% |
| EBITDA | 10.94 | 6.57 | 66.51% | 40.67 | 33.25 | 22.31% |
Announcing the results, N. R. Panicker, Chairman of the Company said “I am pleased with the strong turnaround achieved by the company both in terms of growth in total revenue and EBITDA. After receiving the strategic investment from CAC Holdings Corporation, in January 2014, we have partly retired our debts and the same will be reflected in our performance in terms of lower interest outgo in the coming quarters. We are currently in the process of restructuring the business to focus more on Software and related IT services with operations in USA, Japan, UAE and Singapore. This will enable us improve our profitability non-linearly going forward.”
“CAC Holdings Corporation becoming a majority shareholder in Accel Frontline is a reflection of the Japanese Software Company’s confidence in Accel Frontline’s business model and future potential, as we embark on our journey for an accelerated growth in the next few years.”