Bartronics to restructure
The company is splitting off four different entities from its existing operations into:
- identification solutions,
- banking solutions,
- citizen services,
- overseas operations.
Bartronics is currently in search for a CEO for each entity. The company expects to raise interest among its investors for the new entities expansion plans.
For the year ended March 2011, the company recorded sales of about INR 9.07 billion, a growth of about 11% over the previous year. Net profit for the year stood at about INR 1.18 billion (EUR 18.5 million), a growth of about 13% over the previous fiscal. Bartronics anticipates a 20% sales growth this year.
The company has an order book of about INR 9.75 billion (EUR 153 million), which includes INR 2.5 billion (EUR 39 million) worth orders from smart card market and the balance for solutions.