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BL Research Bureau

Bartronics’ Rs 400-crore contract win from the Employees State Insurance Corporation (ESIC) enhances its strong domestic presence; India already contributes over 50 per cent of the company’s revenues.

The size of the contract is approximately 1.5 times its 2007-08 revenues and adds to long-term revenue visibility.

Bartronics derives around 45 per cent of its revenues from the smart cards (cards with chips embedded such as credit card, PAN card etc) business and this order will substantially increase this proportion.

The company has its own manufacturing facility to produce smart cards, which was recently enhanced to a capacity of 80 million cards.

Such deal wins would mean that the company would be able to achieve near 100 per cent utilisation from 65 per cent levels sooner.

The present contract involves providing smart cards across 609 districts in the country under the Rashtriya Swasthya Bhima Yojna.

The revenue inflow is likely to be over several years from this contract.

This deal may pave the way for Bartronics to win more complex and larger projects from the Government, which has proposals to issue national identity smart cards.

The company is already doing pilot runs on this project.

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