Hindalco Enters into a Software License, Customization and Support Agreement with Eka

Bangalore - 25 March 2010

Eka Software, the leading provider of commodity trade and risk management software, announced today that Hindalco Industries Limited has entered into a Software License, Customization and Support Agreement with Eka for its risk management operations in India. Hindalco, the metals flagship company of the Aditya Birla Group, a $29 billion corporation, is one of the world’s top five aluminum majors worldwide having a global footprint in 12 countries that encompass the entire gamut of operations, from bauxite mining, alumina refining and aluminum smelting to downstream rolling, extrusions, foils, along with captive power plants and coal mines.

Eka has been enjoying solid success in the Metals & Mining marketplace in recent times. Commenting on this, Mr. Manav Garg, CEO & Founder of Eka Software Solutions said that “Eka’s out-of-the-box solution for commodity hedgers is targeted specifically to address the requirements of the metals processing industry. Earning the business of a highly prestigious client like Hindalco is a validation of our commitment, vision and capabilities in the commodities software market. ”

Eka's solution for commodity hedgers is designed specifically for the commodity processing segment that helps ensure processing margins are protected, captured and realized. Eka assists risk managers to identify, measure and manage metal pricing between raw materials and finished products. The solution provides complete visibility over trades and positions, calculates margins and generates a P&L with accounting entries that can be interfaced with an existing ERP application. This results in accurate and timely financial reporting for regulatory compliance, streamlines operations and lowers costs.

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