Accel Transmatic Limited Turnover up by 58% in Second Quarter

Accel Transmatic Ltd (ATL), a listed company in BSE, which has one of the fastest growing animation company in India has recorded a revenue growth of 58 % at Rs 613 Lakhs in the quarter ended as on 30th September, 2010, on a consolidated basis compared to Rs 389 Lakhs in the corresponding quarter in the previous year. The company made a nominal profit Rs 17.87 Lakhs as against a loss of Rs 146 Lakhs for the corresponding quarter in the previous year.

Accel Animation Studios, a division of ATL had posted revenue of Rs 131 Lakhs for the quarter ended as on 30th September, 2010, up by 21% from Rs 102 Lakhs in the corresponding previous period. Ushus Technologies, the embedded software division had posted revenue of Rs 486 Lakhs up from Rs 287 Lakhs over the corresponding quarter of previous year.
Commenting about the results, Mr. N. R. Panicker, Chairman Accel Transmatic Limited said, “We are in the progressing stage, after long period of lower growth. We expect to improve the performance from now on. The recent  developments  in both Accel Animation and Ushus technologies  in winning new contracts  is expected to render us with good results in the  next financial year onwards. More projects are in the pipeline that will take us to higher and better performance”.

Key Developments at Accel Animation Studios:

•   Accel Animation has signed an agreement with Pune based Big Animation, a division of Big Entertainment for creating the India’s very own Intellectual Property – Shaktimaan as animated series on co production model.

•   Accel Animation’ has pioneered the promotion of Indian characters and stories for the international market. Close on the heels of completing the animated version of ancient Tamil Literary work “Thirukkural”  as “Ek Tha Jungle”, which is being premiered on the Disney Channel, the company has Launched “Raju the Rikshaw ‘ an 78 episode 3 D Animated series to be distributed worldwide by  Cyber Group Studios of France. The Delivery is expected to start from March 2011.

•   The Company is presently working on Visual Effects for “The Flying Machine” a feature film by renowned producer Hugh Welch of Break Thru Films of UK. The company has the all India distribution rights for this movie as part of the commercial terms. The film is expected to hit screens early next year.

Key developments in Ushus Technologies:

•    Ushus Technologies has gained 2 new clients during the quarter which will start yielding revenues from the next quarter onwards.
•   Considering the expanding business operations in Ushus technologies, the company has initiated action to set up the 2nd development unit in the SEZ at Infopark, Kochi.