(3) The Company has seen closure of projects in Q4CY08 from couple of customers. There is no loss of customer. There is general slowdown in the market place. Clients across geographies and industries are seeing cost cutting. The company is also seeing pricing and volume pressures. (4) For the fourth quarter ended December 31, 2008, Hexaware reported 4% rise in consolidated operating revenues at Rs 305.90 crore with rupee depreciation benefiting by about 11%. The growth in US dollar term was 7%. The operating margins improved 460bps at 17.9%. The resultant net profit grew 48% at Rs 17 crore.

(5) The revenues in cross currency basis were US$ 64.4 million against US$ 61.9 million reported. The holiday season across the globe impacted by US$ 2.5 million. The volume growth was 1% for the quarter. (6) OPM improved 460bps at 17.9% on the back of 315bps on improvement in productivity/utilization, 255bps on lower SG&A, 365bps on rupee depreciation whereas lower no. of working days impacted 405bps and cross currency headwinds impacted 60bps. (7) Billing rates for onsite were down 3.5% at US$ 66.35 per hour and for offshore were down 3.9% at US$ 22.46 per hour.

(8) The forex loss on ineffective hedges of US$ 13.5 million was US$ 2.3 million. Forex losses in other income were Rs 28.8 crore up from Rs 24.3 crore in the sequential quarter. (9) Utilization for the quarter improved 790bps at 73.8%. (10) Hexaware added 12 new customers during the quarter. The total number of active clients stood at 178; of which 68 belong to the Fortune 500/Global 500 list. (11) Geographically, Americas grew 9.5% contributing 67.6%, Europe dipped 10.6% contributing 26% and ROW grew 16.6% contributing 6.4%. (12) Capex for CY09 would be US$ 10 to 12 million.

Pfizer declared the results for the quarter ended and year ended November'08 and held a tele conference call on 10th February 2009 to discuss the performance as well as future strategies. The key takeaways from the meet are as follows: Financial Highlights: Net sales for the quarter ended November'08 remains flat at Rs 184.84 crore on standalone basis. Operating profit margin marginally increased by 10 bps to 14.5% as a result operating profit grew by 1% to Rs 26.79 crore. The other income increased by 38% to Rs 20.06 crore lifted the PBIDT to grow by 14% to Rs 46.85 crore. Depreciation increased by whopping 188% to Rs 4.43 crore and PBT before EO grew by 7% to Rs 42.42 crore. EO expenses for the quarter stood at 0.76 crore on the account of employees as against of Rs 2.60 crore in the corresponding pervious period. PBT after EO to grew by 13% to Rs 41.66 crore. As the effective tax rate declined by 1280 bps to 27.4%, the net profit rose by 37% to Rs 30.23 crore.

Key Highlights of the meet: (1) Net sales for the year ended November'08 on consolidated basis registered marginal growth of 1% to Rs 681.70 crore and net profit declined by 12% to Rs 299.58 crore. (2) The company has earlier sold four brands of Consumer Healthcare Business to Johnson & Johnson. Excluding the sales of these products in the previous corresponding period, the company reported net sales growth of 11% in the quarter under review.

(7) Company is looking for an acquisition opportunity. (8) Balance Sheet components as on 30th November 2008: Fixed Assets: Rs 83 crore, inventory: Rs 124 crore, debtors: Rs 60 crore. (9) Company plans to launch few branded products from the parent's stable in second half of 2009. (10) Cash on books as on 30th November'08 is around Rs 543 crore. Other than this company also gave loans amounting of Rs 150 crore to Pfizer companies in different regions.