Newgen Software Technologies Limited — Earnings Release 2020

May 26, 2020

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Newgen Software Technologies Limited

CIN: L72200DL1992PLC049074 A-6, Satsang Vihar Marg, Qutab Institutional Area, New Delhi - 110 067, INDIA Email: corpmktg@newgensoft.com URL: https://newgensoft.com Tel.: (+91)-11-4077 0100, (+91)-11-2696 3571, 2696 4733, Fax: (+91)-11-2685 6936

Date: 26[th] May, 2020

To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001	To, National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra- Kurla Complex Bandra (E), Mumbai – 400051
Ref.: Newgen Software Technologies Limited (NEWGEN/INE619B01017) ScripCode - 540900	Ref.: Newgen Software Technologies Limited (NEWGEN/INE619B01017)

Sub.: Investor Presentation and Press Release on Financial Results for the quarter and financial year ended 31[st] March 2020

Dear Sir/ Ma'am,

Pursuant to the above mentioned subject, we are enclosing herewith the following:

• 1) Press Release on aforesaid financials results; and

• 2) Investor presentation

This is for your kind information and record.

Thanking you. For Newgen Software Technologies Limited

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Aman Mourya Company Secretary & Compliance Officer

Encl. : a/a

PRESS RELEASE

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Newgen Software reports Revenues of Rs 661cr in FY’20, Cloud Revenues up 60%

Company helps enterprise customers adapt to the uncertain environment with its low code digital automation platform

New Delhi, India – 26 May 2020

The management of Newgen Software Technologies Ltd. announced results for the Quarter and Financial year ended 31 March 2020 at its Board Meeting held on 26 May 2020.

Speaking about the results, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – “An uncertain environment calls for extraordinary steps by an organization. During the COVID-19 pandemic, Newgen’s pre-emptive measures, business continuity processes and robust IT infrastructure ensured quick control and seamless transition to remote working environment. Our solutions, developed on our low code digital automation platform, are of mission critical nature for our long term customers. They serve as the backbone of their operations. During this COVID-19 time we ensured their continued operations and business continuity. The Company focused on health and safety of employees while fully supporting clients worldwide. I would like to take this opportunity to thank all our employees for showing such dedication towards work.

Our business has heavy dependence on the fourth quarter. However, fourth quarter performance was lower than expected impacted by new business deferments due to restrictions imposed globally starting in February 2020 and the subsequent evacuation operations; as well as continuing economic and banking sector slowdown in India market.

While in the short term the environmental challenges are expected to continue to lead to delay in new deals signings, we believe that today, the relevance and requirement of our digital solutions for enterprises is more than ever. We are thus transforming ways of working by aggressively pursuing cloud deployments across the globe.

We believe that our annuity revenue streams from existing customers would help maintain stability in revenues. Our concerted efforts towards more efficient operations and cost optimization for cash preservation would help us maintain a healthy liquidity position during this phase.”

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Key Consolidated Financial Highlights (FY’20) – [Y-o-Y Comparison]

• Revenue from operations (Consolidated) up 6.5% YoY at Rs 660.8 crores as compared to Rs 620.6 crores in FY’19. The business has heavy dependence on the fourth quarter impacting the overall performance. During the year, Newgen witnessed growth across the board in its key geographies. India, however, continued to face challenges on account of economic sluggishness in NBFC and Banking as well as banking consolidation.

• Annuity Revenue streams (ATS/AMC, Support and Cloud/SaaS) were at Rs 368.6 crores. Cloud/SaaS deployments are rapidly increasing in all geographies – US, APAC, India, as well as in the EMEA region. Cloud Revenues were Rs 38.3 crores and witnessed a growth of 60% YoY.

• Revenue from Sale of Products/ License were at Rs 117.7 crores

• Implementation & Digitization revenues were at Rs 174.5 crores

• Profit after tax down at Rs 72.7 crores on account of slower growth in top-line and continued investments in R&D & Sales and Marketing efforts.

Key Consolidated Financial Highlights (Q4 FY’20) – [Y-o-Y Comparison]

• Revenue from operations (Consolidated) at Rs 190.8 crores as compared to Rs 204.0 crores in Q4 FY’19 due to delay in new deal closures on account of COVID-19 related lockdowns and restrictions imposed globally.

• EBITDA* was at Rs 51.9 crores and Profit after tax was at Rs 41.5 crores.

*Earnings before Interest, Tax, Depreciation and Amortisation, adjusted for other income

Key Business Highlights (Q4 FY’20)

• Seamless transition to remote working environment: Company implemented its business continuity plan, executed just-in-time requisition and provision of computers, enabled VPNs and internet connectivity, and provided team collaboration tools. Today, 90% of the workforce across locations is efficiently working remotely with data security and compliance. Newgen is ensuring seamless customer services by leveraging digital connectivity to successfully execute each stage of project deployments (from requirements gathering, to project planning, to implementation and production support) as well as sales and marketing efforts.

• Banking and Financial Services vertical continued to be our largest vertical comprising 60% of revenues during the quarter followed by Government/ PSU (10%), BPO/IT (7%) and Healthcare and Insurance (6% each). Low presence in currently impacted verticals due to the pandemic.

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 Prestigious customer wins: 21 new customer additions in Q4 FY’20 including:

• Large project with a leading Pan-African financial institution, offering banking services to more than 18 million customers, across 1,000 business offices and customer touch points in 20 African countries

• License Agreement with a key government ministry in India

• 4 cloud agreements in the US including a deal with a leading provider of property casualty insurance for auto, home and business

• Mid-sized project with one of the largest Bahamian banks with $1.7 billion in assets

• R&D Efforts:

• Received Patent for Mark Detection System and Methodology from US Patent Office

• Secured Patent for a System and Method for Automatic Quality Assessment of Digital Documents

• Product Launches: Company’s new version of the product iBPS has low code capabilities and cloud deployments which are very relevant today. Newgen also launched an enhanced version of Customer Communication Management product suite that enables users to easily create, design, and manage HTML email communications.

• Strategizing new offerings : Newgen is developing and deploying new solutions under the Paycheck Protection Program to help financial institutions quickly process and forgive loans under the various monetary and fiscal interventions introduced by governments globally to to stabilize economic conditions. The Company is prioritizing SaaS based delivery models with all geographies increasingly moving in that direction.

• Received approval for setting up a unit in the IT/ITES SEZ in Noida, Uttar Pradesh from Development Commissioner of Noida Special Economic Zone

Other Highlights

• Appointment of Ms Padmaja Krishnan as Non- Executive Independent Director of the company w.e.f. March 24, 2020

About Newgen

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Connecting Enterprises. Transforming Experiences.

Newgen Software Technologies Limited (listed In India on National Stock Exchange [Script code: NEWGEN] and BSE Ltd. [Script code: 540900]), is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission-critical solutions deployed at world’s leading banks, Governments, BPO’s & IT Companies, Insurance firms and Healthcare Organizations.

Disclaimer

This press release may contain certain forward looking statements concerning Newgen Software Technologies’ future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth and new business opportunities, competition (both domestic and international), economic growth in India and the target countries for business, ability to attract and retain highly skilled professionals, time and cost over runs on projects, our ability to manage our international operations, government policies, interest and other fiscal costs generally prevailing in the economy. Past performance may not be indicative of future performance. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.

Media Contact:	Investor Contact:
Asif Khan asif.khan@newgensoft.com	Deepti Mehra Chugh deepti.chugh@newgen.co.in

May 2020

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Newgen Software Technologies Ltd.

Q4 FY’20 and FY’20 Investor Update

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Connecting Enterprises. Transforming Experiences.

COPYRIGHT 2020, NEWGEN SOFTWARE

Reinvent business with Newgen’s transformative platforms

Low-code software products company providing enterprise-wide, mission critical solutions helping organisations drive digital transformation and competitive differentiation

Digitise

Process & Adapt

Communicate

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Deliver contextual content for smarter Deliver contextual content for smarter decision making and improved decision making and improved collaboration collaboration

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Create smarter processes, empower knowledge workers and build responsive business

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Create, personalize and deliver interactive communication to enhance customer experience

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COPYRIGHT 2020, NEWGEN SOFTWARE

Newgen at a Glance (FY’20)

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~560 Active 69 Customers[(1)] Countries

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Strong Industry 44 Patent Recognition Filings

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56% Annuity Revenues

Rs 6,608 Mn FY’20 Revenues

COPYRIGHT 2020, NEWGEN SOFTWARE

(1) Invoiced in the last 12 months

(2) All figures as of March 2020

Toronto, CA New Delhi, IN New Mississaug Delhi London London, UK s a, ON Mu Kolk mbai

Tampa, FL

Dub Dubai, AE ai

New South Wales, AU Singapore, SG

McLean, VA

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Global Offices HQ

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India Offices include Mumbai, Chennai, Bengaluru, Kolkata, Hyderabad, Noida, Gurugram, New Delhi

Resilient Business Model in place

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56% 18% 26%
Large annuity revenues streams Annuity Revenues Sale of Products Sale of Services
FY20 Revenue Split by Segment
57% 9% 8% 8% 6% 12%
Mission critical solutions across key verticals Banking & FS Health BPO Govt. Insurance Others
FY20 Revenue Split by Segment
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Large annuity revenues streams

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30% 31% 28% 11%
Diversification across geographies India EMEA USA APAC
FY20 Revenue Split by Geography
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Strong Industry Recognition

Gartner

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A Challenger in Magic Quadrant for Content Services Platform, ECM 30 October 2019, Michael Woodbridge et al

“A Strong Performer” in ECM Content Platforms Wave™ Report, Q3 2019

A Niche Player in Magic Quadrant for Intelligent Business Process Management Suites, 30 January 2019, Rob Dunie et al

“Strong Performer” in the Forrester Wave[TM] : Digital Process Automation For Wide Deployments, Q1 2019

BPM

A Challenger in Magic Quadrant for BPM-Platform-Based Case Management Frameworks,, 24 October 2016, Rob Dunie, Janelle B. Hill*

“Leader” in the Forrester Wave[TM] : Cloud-Based Dynamic Case Management (DCM), Q1 2018

A Niche Player in Magic Quadrant for CCM Customer Communications Management Software, 26 January 2017, Karen M. Shegda, Pete Basiliere*

“Strong Performer” in the Forrester Wave[TM] : Customer Communications Management, Q2 2016

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. •This research is provided for historical perspective; portions may not reflect current conditions.

• The Forrester Wave™ is copyrighted by Forrester Research, Inc. Forrester and Forrester Wave™ are trademarks of Forrester Research, Inc. The Forrester Wave™ is a graphical representation of Forrester’s call on a market and is plotted using a detailed spreadsheet with exposed scores, weightings, and comments. Forrester does not endorse any vendor, product, or service depicted in the Forrester Wave. Information is based on best available resources. Opinions reflect judgment at the time and are subject to change.

Stable Annuity Revenues Streams with increasing cloud deployments

• Annuity Revenue Streams constantly increasing from 41% of revenues in FY’16 to 56% in FY’20 • Increasing acceptability of cloud deployments across geographies

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Annuity Revenues (INRm) Cloud/SaaS Revenues (INRm)
4,000 450
3,686
400 383
3,500 27% 125%
3,030
350
3,000
5 year CAGR 5 year CAGR
2,500 growth 300 growth
2,209
239
250
2,000
1,707
200
1,405
1,500
150
114
1,000
100
500
50 28
15
- -
FY16 FY17 FY18 FY19 FY'20 FY16 FY17 FY'18 FY'19 FY'20
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COPYRIGHT 2020, NEWGEN SOFTWARE

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Expanding revenues from existing customers

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Existing Customer Business (INRm)
5,600
Expanding
Existing 5,455
Customer Business
5,400
5,200
5,000 Client Concentration (%)
Top 10,
4,776
4,800 23%
Top 5,
14%
4,600
Top 20,
34%
4,400
FY19 FY'20
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Actively helping long term customers in continuing operations seamlessly despite the disruptions

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Focused on Driving Innovation Through R&D

Our complete development network and supporting infrastructure operates on a central system and follows a synchronized cloud-based continuity strategy

28 years of product DNA

Skilled R&D team with deep product domain expertise

Unified platform with modular deployment

Intuitive applications and scalable performance

Low Code Platform

SaaS delivery

COPYRIGHT 2020, NEWGEN SOFTWARE

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44 patents filings,
15 Granted [(1) ]
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New Features Intelligent Content Services Low-Code Application Dev Platform

Collaborative Work Management Digital Sensing

BlockChain

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RPA
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(1) 44 Patent Filings, of which 15 patents are granted in India & the USA and 19 patent applications are under processing

Transforming project delivery and sales and marketing methods

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Cloud Deployments ensuring remote implementations

Low Code Platforms ensures reduction in delivery timelines

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Leveraging digital connectivity while ensuring data security to successfully execute each stage of project deployments and sales demos and discussions

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Local teams across mature markets

Focus on strengthening the SI partner ecosystem globally

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COPYRIGHT 2020, NEWGEN SOFTWARE

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Experienced Senior Management Team with Distinct Operating Culture

Management Organisation Structure

 Founder-led

management team with extensive

experience

Diwakar Nigam

T.S. Varadarajan

Chairman and Managing Director

Whole Time Director

• Co-founded Newgen in 1992

• Co-founded Newgen in 1992

• 35+ years of experience in development of software products

• 35+ years of experience in development of software products

• Masters in Computer Science from IIT Madras

• Masters in Computer Science from IIT Madras

Business Mgmt/Delivery

Technology/ Products

Sales & Marketing

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Priyadarshini Nigam

Whole Time Director

• Been with Newgen since 1997

• More than 10 years of experience in the field of journalism

Corporate

Virender Jeet

Hemant Makhija

Tarun Nandwani

Dr. S.J. Raj

Sr. VP –Sales & Marketing/ Product

VP – Marketing

Sr. VP – Business Management

• VP – Marketing

• Supported by a • Been with Newgen since 1992 • 30 years of extensive strong second line • Manages overall strategic and experience with organizations operational responsibility for 35 like Plex Systems, Yahoo, Sage,

• management entire portfolio of offerings and Systronics

Sr. VP – HRD

• Been with Newgen since 1993

• • Responsible for driving business from existing customers and CRM

• Been with Newgen since 1992

• Experience of 31 years

Arun Kumar Gupta Chief Financial Officer

Ashok Kapoor

Manojit Majumdar

 Fostered culture of

VP – Software Development

VP – Channels

  - Been with Newgen since 2010

• Been with Newgen since 2015

• • Experience of 26 years

• With Newgen since 1998

• • Managed mid-market channels at IBM India

innovation,

• Oversees financial reporting & planning, treasury, taxation, IR and compliances

entrepreneurship

• Rejoined Newgen in 2011

and teamwork

Dushyant Kumar

Vivek Bhatnagar

VP – Software Development

VP – Sales

• VP – Sales • Been with Newgen since 1999 • With Newgen since 2011 • Driving organization wide • scaling of competence of Experience of 20 years US Sales Delivery and all customer facing groups Anand Raman

• Sunil Pandita Shanmugam Nagappan VP – Sales • 22 years of extensive experience with organisations VP – Software Development • Responsible for managing EVP & COO - Newgen Software Inc. • Been with Newgen since 1994 like Samsung Electronics, delivery functions on projects • Deep experience in product Adobe, IBM, Autodesk and HCL executed from SDC, Chennai development life-cycle

 10 out of 20 AVP

Australia Sales

have been with the company for 15+

R. Krishna Kumar

VP – Sales

• years • Been with Newgen since 2013

• Experience of 21 years

Independent Board of Directors

Subramaniam Ramnath Iyer Non Executive, Independent Director 26+ years of experience in Finance & Accounting

Kaushik Dutta

Non Executive, Independent Director 22+ years of experience in Finance & Accounting

Saurabh Srivastava

Non Executive, Independent Director Several years of experience in Information technology

Padmaja Krishnan Non Executive, Independent Director 30+ years of experience in Technology space

5 Year Financial Overview

Total Revenue (INRm)

PAT (INRm) and PAT Margins

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Profit impacted due to
7000 Growth impacted due to business
6,608 1,200 business deferments (Covid19)
deferments (Covid19)
6,206
6000 6% 1,022
1,000
5,124
5000 4,699
4,271 4,167 800 729 727
4000 13%
3,468
600
3000 513
400
2000
278
1000 200
0
FY16 FY17 FY18 9M FY19 9M FY'20 -
FY’19 FY’20 FY16 FY17 FY'18 FY'19 FY'20
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FY’16 financials are Restated Consolidated Financials as per Indian GAAP Accounting Standards COPYRIGHT 2016, NEWGEN SOFTWARE INC. FY’17-20 financials are Consolidated Financials as per Ind AS Accounting Standards

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Covid19 Update

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Covid19 Update

 Seamless transition to remote working environment:

• Company implemented its business continuity plan, executed just-in-time requisition and provision of computers, enabled VPNs and internet connectivity, and provided team collaboration tools.

• Today, 90% of the workforce across locations is efficiently working remotely with data security and compliance.

• Newgen is ensuring seamless customer services by leveraging digital connectivity to successfully execute each stage of project deployments (from requirements gathering, to project planning, to implementation and production support) as well as sales and marketing efforts.

 : Strategizing new offerings

• Newgen is developing and deploying new solutions under the Paycheck Protection Program to help financial institutions quickly process and forgive loans under the various monetary and fiscal interventions introduced by governments globally to stabilize economic conditions

• The Company is prioritizing SaaS based delivery models with all geographies increasingly moving in that direction.

 Financial Assessment & Control

• Continuous assessment of impact on business/ financial parameters for better control

• Working on optimising the current cost structure and cash flow across the board while continuing to invest in strengthening digital capabilities

Company is focused on health and safety of employees while fully supporting our clients worldwide

COPYRIGHT 2020, NEWGEN SOFTWARE

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Customer Case Study: Banking - A New York - Based Bank Ensures Business Continuity During COVID-19 Using Newgen's Commercial Lending Solution

One of the largest banks in the United States with around 240 branch offices had implemented Newgen's commercial loan origination solution (CLOS) to streamline the overall lending process. Due to the outbreak of the COVID-19 epidemic, the bank needed to immediately enable employees to operate remotely without impacting the speed and quality of services.

Using Newgen's CLOS application, the bank digitized its lending cycle and automated its operations, enabling a quick and hassle-free shift to the remote working environment.

COPYRIGHT 2020, NEWGEN SOFTWARE

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Q4 FY’20 Results

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Financial Summary (Consolidated)

Particulars	Metrics Q4FY20 (Unaudited) Q4FY19 (Unaudited) YoY Growth	Q3FY20 (Unaudited) QoQ Growth	FY20 (Unaudited) FY19 (Unaudited) YoY Growth
Revenue (INR Mn)	Revenue from operations 1,908 2,040 -6%	1,850 3%	6,608 6,206 6%
	Other Income * 92 25 264%	40 127%	210 204 3%
	Total Income 2,000 2,065 -3%	1,890 6%	6,8176,410 6%
Profits (INR Mn)	EBITDA_(adjusted for_ other income) 519 796 -35%	358 45%	1,046 1,277 -18%
	Profit after tax 415 625 -34%	240 73%	727 1,022 -29%
Margin (%)	EBITDA (adjusted for other income) 27.2% 39.0%	19.4%	15.8% 20.6%
	Profit after tax 20.7% 30.3%	12.7%	10.7% 15.9%
EPS (INR)	Basic 6.019.18 -35%	3.48	10.56 15.01 -30%
	Diluted 6.00 9.02 -33%	3.46	10.51 14.74 -29%

FY’20

• Revenues at Rs 6,608 Mn, up 6.5% YoY. The business has heavy dependence on the fourth quarter which was impacted by new business deferments due to lockdowns and restrictions imposed globally. During the year, Newgen witnessed growth across the board in its key geographies. India, however, continued to face challenges on account of economic sluggishness in NBFC and Banking as well as banking consolidation.

• Profit after tax down at Rs 727 Mn on account of slower growth in top-line and continued investments in R&D & Sales and Marketing efforts.

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COPYRIGHT 2020, NEWGEN SOFTWARE

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New Logo Wins – FY’20

71 New Logo Wins during FY’20

Major deals during Q4 include:

• Large project with a leading Pan-African financial institution, offering banking services to more than 18mn customers, across 1,000 business offices and customer touch points in 20 African countries

• License Agreement with a key government ministry in India

• 4 cloud agreements in the US including a deal with a leading provider of property casualty insurance for auto, home and business

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• Mid-sized project with one of the largest Bahamian banks with $1.7bn in

assets

New Logo Wins during Q4 FY’20

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COPYRIGHT 2020, NEWGEN SOFTWARE

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Business Highlights

No. of Deals above Rs 5 crores

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40
35
30
28
30
25
20
15
10
5
-
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FY'19

FY'20

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Cloud/ SaaS Revenues
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INR Mn

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382.7
400 60%
350
300
239.2
250
200
150
100
50
-
FY'19 FY'20
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’ – Business Highlights Q4 FY 20

• Received Patent for Mark Detection System and Methodology from US Patent Office

• Secured Patent for a System and Method for Automatic Quality Assessment of Digital Documents

• Received approval for setting up a unit in the IT/ITES SEZ in Noida , Uttar Pradesh from Development Commissioner of Noida Special Economic Zone

• Company’s new version of the product iBPS has low code capabilities and cloud deployments which are very relevant today. Newgen also launched an enhanced version of Customer Communication Management suite that enables users to easily create, design, and manage HTML email communications.

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COPYRIGHT 2020, NEWGEN SOFTWARE

Key Highlights – Appointment of Non-Executive Director

Appointment of Ms Padmaja Krishnan as Non- Executive Independent Director of the company w.e.f. March 24, 2020

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Padmaja Krishnan is an independent Director of our Company. She has industry expertise spanning over thirty years as a global business leader and innovator in the Technology space. She has delivered business growth agenda, created and led SBUs for Companies. She has managed multiple business portfolios for organizations like CSC, Sopra-Steria, Dell-Perot Systems, TCS and reputed entrepreneurial ventures. She is also on the Board of Emerging Edges Consultants Pvt. Ltd. since 2010. She is a certified coach at Marshall Goldsmith Stakeholder Centered Coaching, certified Tick IT Lead Assessor from UK, Certified Corporate Director by Institute of Directors and has acted as a Guest Faculty at FMS, BIMTECH and NIFM. She did her Bachelors and Masters in Physics from University Of Delhi and M.Phil. in Computer & Systems Sciences from JNU, New Delhi

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COPYRIGHT 2020, NEWGEN SOFTWARE

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Debtors Days

Debtor Days (Based on Gross Debtors)

Debtor Days (Based on Net Debtors)

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(INRm)
(INRm)
179 days
172 days
149 days 149 days
3,243
2,694
2,920
2,527
Mar 31, 2019 Mar 31, 2020 Mar 31, 2019 Mar 31, 2020
Debtor Days Gross Trade Receivables (INR Mn) Debtor Days Net Trade Receivables (INR Mn)
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COPYRIGHT 2020, NEWGEN SOFTWARE

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Your Trusted Digital Transformation Partner

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Thank you

www.newgensoft.com

For any Investor Queries please contact: Deepti Mehra Chugh Head – Investor Relations Phone: +91 11- 46 533 200 Mail : deepti.chugh@newgen.co.in

Disclaimer

This presentation may contain certain forward looking statements concerning Newgen Software Technologies’ future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth and new business opportunities, competition (both domestic and international), economic growth in India and the target countries for business, ability to attract and retain highly skilled professionals, time and cost over runs on projects, our ability to manage our international operations, government policies, interest and other fiscal costs generally prevailing in the economy and general economic conditions affecting the industry. Past performance may not be indicative of future performance. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.

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P&L Statement

(All amounts in INRm, except per share data and unless otherwise stated)	Q4 FY 2020	Q4 FY 2019	Q3 FY 2020	FY 2020 FY 2019	FY 2020 FY 2019
Revenue
Revenue from operations	1,908.4	2,039.7	1,849.5	6,607.6 6,206.4
Other income	91.7	25.2	40.4	209.6 203.8
Total revenue	2,000.1	2,064.9	1,889.9	6,817.2 6,410.2
Expenses
Employee benefits	845.3	746.1	889.0	3,423.9 2,879.9
Finance costs	34.7	18.6	22.6	109.1 85.4
Depreciation and amortisation	52.9	15.0	48.8	199.1 59.8
Other expenses	543.7	498.1	602.6	2,137.6 2,049.3
Total expenses	1,476.5	**1,277.7 **	1,563.0	5,869.8 **5,074.4 **
Profit before tax	523.6	**787.2 **	326.9	947.4 1,335.8
Tax expenses
Current tax	112.4	158.4	92.7	265.1 299.4
Deferred tax (credit)/charge	-3.5	3.6	-5.5	-45.0 14.3
Profit after tax for the year	**414.7 **	**625.1 **	239.6	727.3	**1,022.1 **
Other comprehensive income/(loss) for the year, net of income tax	8.7	-10.9	15.1	24.2	2.8
Total comprehensive income for the year	423.4	**614.2 **	254.7	751.5	1,024.9
Earnings per equity share (face value of Rs. 10 per share)
Basic earning per share	6.01	9.18	3.48	10.56 15.01
Diluted earning per share	6.00	9.02	3.46	10.51 14.74

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Balance Sheet

(All amounts in INRm, except per share data and
unless otherwise stated)	30-Mar-19	30-Mar-20
Assets
Non-current assets	1,882.6	2,684.0
Property, plantand equipment	676.3	664.1
Capital work-in-progress	832.1	907.3
Right-of-use assets		625.2
Intangible assets	13.1	14.0
Financialassets
Loans	36.2	43.8
Other financialassets	32.3	35.8
Deferred tax assets	178.4	226.6
Income taxassets	99.7	158.1
Other non-current assets	14.5	9.1
Current assets	**5,543.4 **	6,026.7
Financialassets
Investments	516.6	761.1
Trade receivables	2,526.9	2,694.0
Cash and cash equivalents	1,577.5	1,001.1
Other bank balances	213.9	651.6
Loans	4.5	13.2
Other financial assets	627.6	826.0
Other current assets	76.5	79.7
Total	7,426.0	8,710.8

Equity & Liabilities
Equity	4,967.1	5,490.7
Share capital	684.6	690.9
Otherequity	4,282.5	4,799.8
Non-current liabilities	296.9	464.6
Leaseliabilities	102.9	229.6
DeferredTax Liability	1.1	1.7
Provisions	192.9	233.2
Current liabilities	**2,162.1 **	2,755.5
Financial liabilities
Leaseliabilities	29.2	133.4
Borrowings	677.3	745.3
Trade payables	216.1	275.1
Derivative liabilities
Other financial liabilities	358.9	412.0
Deferred Income	679.5	1,009.0
Other current liabilities	157.9	130.6
Short-term provisions	43.3	50.1
Total	7,426.0	8,710.8

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