Newgen Software Technologies Limited — Interim / Quarterly Report 2020

Oct 22, 2019

Newgen Software Technologies Limited

CIN: L72200DLl992PLC049074 A-6, Satsang Vihar Marg, Qutab Institutional Area, New Delhi - I IO 06 7 INDIA Tel: ( +91) -1 1-4077 0 I 00, 2696 3571, 2696 4733, Fax: ( +91 )-1 1-2685 6936 Email: corpmktg@newgensoft.com URL: https://newgensoft.com

Date: 22nd October, 2019

To,BSE LimitedPhiroze Jeejeebhoy Towers,Dalal Street,Mumbai - 400001	To,National Stock Exchange of India LimitedExchange Plaza, Plot No. C/1, G Block,Bandra- Kurla ComplexBandra (E), Mumbai-400051
NewgenTechnologiesRe£:SoftwareLimited(NEWGEN/INE619B01017)Scrip Code - 540900	Re£: Newgen Software Technologies Limited(NEWGEN/INE619B01017)

Sub.: Outcome of Board Meeting held on 22nd October, 2019

Dear Sir/ Ma'am,

This is to inform you that the Board of Directors of the Company at its meeting held today i.e. Tuesday, 22nd October 2019 which commenced at 12:00 Noon and concluded at 1:20 P.M., has, inter-alia:

1. Considered and approved the Unaudited Standalone and Consolidated Financial Results of the Company for the 2nd Quarter and 1st half year ended 30th September, 2019; and

Accordingly, pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the following:

• 1. Press Release on aforesaid financials results;
• 1. Aforesaid financial results along with limited review reports; and
• 1. Investor Presentation

This is for your kind information and record.

Encl.: ala

PRESS RELEASE

Newgen Software reports Revenues of Rs 285cr in H1 FY'20, up 11% YoY

New Delhi, India – 22 October 2019

The management of Newgen Software Technologies Ltd. announced results for the Quarter and Financial period ended 30 September 2019 at its Board Meeting held on 22 October 2019.

Speaking about the results, Mr. Diwakar Nigam, Chairman & Managing Director, Newgen Software Technologies Ltd. said – "During H1 FY'20, we witnessed growth across geographies with APAC and Americas region remaining strong. Our efforts on new logos have resulted in us adding 38 new logos including 6 cloud deals in Banking & Healthcare segments in Americas region.

Q2 FY'20 was particularly slow for us given the market headwinds in India and EMEA region. However, we continue to remain focused on our operations and in investing in building capabilities for the future."

Highlights – Q2 FY'20

capabilities for the future."
Highlights –Q2 FY'20
~~I~Revenuesat Rs154.0crore	~I26 new logo wins	_II~Strong APACmarket growth	~_ISaaSrevenues up43%

Key Financial Highlights (Q2 FY'20) – [Y-o-Y Comparison]

• Revenue from operations (Consolidated) up 3% YoY at Rs 154.0 crores as compared to Rs 149.7 crores in Q2 FY'19.
  • o Revenue from Sale of Products/ License were at Rs 29.1 crores
  • o Annuity Revenue streams (ATS/AMC, Support and Cloud/SaaS) were at Rs 90.4 crores. Cloud/SaaS continues to be our fastest growing revenue component.
  • o Implementation & Digitization revenues were at Rs 34.5 crores
• EBITDA* was at Rs 9.1 crores as the Company continued to make investments in talent acquisition and employee retention.
• Profit after tax is Rs 4.2 crores.

Key Financial Highlights (H1 FY'20) – [Y-o-Y Comparison]

• Revenue from operations (Consolidated) up by 11% at Rs 285.0 crores as compared to Rs 256.1 crores in H1 FY'19.
• EBITDA* was at Rs 16.9 crores.
• Profit after tax is Rs 7.3 crores.

Key Business Highlights (Q2 FY'20)

• Prestigious customer wins: 26 new customer additions in Q2 FY'20 including:
  • o License Agreement with a commercial bank based in Kenya
  • o License Agreement with a 25 year old financial institution in the Americas Region
  • o License Agreement with a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India.
  • o 5 Cloud deals across Banking & Financial Services and Healthcare segments in the Americas Region
• APAC region witnessed strong growth of 25%, EMEA region witnessed growth of 4%
• Focus on innovation: Received a total of 13 patents till date across India and US; including the patent granted in July 2019 by US Patent Office for the Company's Intelligent Check Deposit Machine which helps in optimizing the check clearing cycle while ensuring security and compliance
• Analyst Recognitions: Positioned as a Strong Performer" in the Forrester Wave™: ECM Content Platforms, Q3 2019*. Newgen has achieved the highest score of 4.08 among all vendors in the "Current Offering" category. The report recognized Newgen as "a good fit for enterprises looking to modernize their critical content and process applications and seeking a fresh, cost-effective alternative to older apps".
• Key Awards: Recognized as the "Enterprise Content Management Vendor of the Year" at Frost & Sullivan's 2019 India ICT Awards

* authored by Cheryl McKinnon et al.

About Newgen

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 Intelligent Digital Automation (BPM), Contextual Content Services (ECM) and Omnichannel Customer Engagement (CCM) 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	Deepti MehraChugh
asif.khan@newgensoft.com	deepti.chugh@newgen.co.in

B S R & Associates LLP

Chartered Accountants

Building No.10, 8th Floor, Tower-B DLF Cyber City, Phase - 11 Gurugram - 122 002, India

Telephone: + 91 124 719 1000 Fax: + 91 124 235 8613

To

Board of Directors ofNewgen Software Technologies Limited

• 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Newgen Software Technologies Limited ("the Parent") and its subsidiaries (the Parent and its subsidiaries together referred to as ''the Group"), for the quarter ended 30 September 2019 and year to date results for the period from 1 April 2019 to 30 September 2019 (''the Statement"), being submitted by the Parent pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').
• 1. This Statement, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Pe,formed by the Independent Auditor of the Entity', issued by the Institute of Chartered Accountants of India. A review ofinterim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

1. The Statement includes the results of the following entities:

Parent Entity

a) Newgen Software Technologies Limited

Subsidiaries

• a) Newgen Software Inc.
• b) Newgen Computer Technologies Limited
• c) N ewgen Software Technologies P1E Ltd.
• d) Newgen Software Technologies UK Ltd.
• e) Newgen Software Technologies Canada Ltd.
• f) Newgen Software Technologies PTY Ltd.
• 1. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

B S R & As~ociates (a partnership firm with Registration No. BA69226) converted into BS R & Associates LLP (a Limited Liability Partnership with LLP Registration No, AAB-8182) with effect from October 14, 2013

Registered Office : 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalakshmi Mumbai - 400 011

BS R & Associates LLP

1. The Statement includes the interim financial results of 5 subsidiaries which have not been reviewed, whose interim financial statements reflect total assets of Rs. 2,746.69 lakhs as at 30 September 2019 and total revenue of Rs. 1,325.58 lakhs and Rs.2,207.68 lakhs and total net profit after tax of Rs. 11.88 lakhs and Rs. 69.24 lak:hs for the quarter ended 30 September 2019 and for the period from 1 April 2019 to 30 September 2019, respectively, and cash flows (net) of Rs. 72.69 lakhs for the period from 1 April 2019 to 30 September 2019, as considered in the Statement. According to the information and explanations given to us by the management, these interim financial results· are not material to the Group.

Our conclusion on the Statement is not modified in respect of the above matter.

For B SR & Associates LLP Chartered Accountants Firm's Registration No.: 116231W / W-100024

Rakesh Dewan Partner Membership No. 092212 UDIN: 19092212AAAAGA3 l 79

Place: GurugraII1 Date: 22 October 2019

2

B S R & Associates LLP

Chartered Accountants

Building No.10, 8th Floor, Tower-B DLF Cyber City, Phase - II Gurugram - 122 002, India

Telephone: + 91124 7191000 Fax: + 91 124 235 8613

To Board of Directors of Newgen Software Technologies Limited

• 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Newgen Software Technologies Limited for the quarter ended 30 September 2019 and year to date results for the period from 1 April 2019 to 30 September 2019 ("the Statement").
• 1. This Statement, which is the responsibility of the Company's management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.
• 1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Iriformation Peiformed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
• 1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Associates LLP Chartered Accountants Firm's Registration No.: 116231W / W-100024

~ \

Rakes~n Partner Membership No. 092212 UDIN: 19092212AAAAGB2585

Place: Gurugram Date: 22 October 2019

B S R & Asa:ociates (a partnership firm with Registration No. BA69226) converted into B S R & Associates LLP (a limited liability Partnership with LLP Registration No. AAB-8182) with effect from October 14, 2013

Registered Office : 5th Floor, Lodha Excelus Apollo Mills Compound N.M. Joshi Marg, Mahalakshmi Mumbai - 400 011

	Statement of Unaudited Consolidated Financial Results ofNewgen Software Technologies Limited
			For the quarter and half year ended 30 September 2019
							(Amount in Rupees lakhs)
			Quarter ended		Half year ended	Year ended
	Particulars	30 September	30 June	30 September	30 September	30 September	31 March
		2019	2019	2018	2019	2018	2019
I	Income	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
	Revenues from operations	15,399.74	13,096.61	14,966.01	28,496.35	25,613.43	62,064.15
	Other income	480.43	294.99	582.38	775.42	1,362.11	2,037.97
	Total income	15,880.17	13,391.60	15,548.39	29,271.77	26,975.54	64,102.12
II	Expenses
	Employee benefits expense	9,112.49	7,784.37	7,255.36	16,896.86	13,758.59	28,798.73
	Fina.nee costs	335.43	182.79	189.88	518.22	386.49	853.87
	Depreciation and amo11ization expenseOther expenses	491.845,374.74	481.824,538.70	149.095,627.15	973.669,913.44	294.819,715.34	597.9920,493.34
	Totnl expenses	15,314.50	12,987.68	13,221.48	28,302.18	24,155.23	50,743.93
Ill	Profit before tax	565.67	403.92	2,326.91	969.59	2,820.31	13,358.19
IV	Tax expense
	Cu!1'ent tax	496.20	103.62	360.37	599.82	505.72	2,993.99
	Defen-ed tax ( credit) / charge	(352.62)	(8.19)	189.48	(360.81)	l50.80	143.31
	Total tnx expense	143.58	95.43	549.85	239.01	656.52	3,137.30
V	Net profit for the period I year	422.09	308.49	1,777.06	730.58	2,163.79	10,220.89
VI	Other comprehensive income for the period / yearItems that will not be recl.nssified subsequently to profit orloss
	Remeasurement of defined benefit liability I (asset)]ncome tax relating to items that will not be redassified to	(21.20)7.40	(21.19)7.41	34.74(12.26)	(42.39)14.81	69.49(24.28)	{84.78)29.63
	profit or loss
	Net other comprehensive income/ (loss) not to bereclassified .subsequently to profit or lo.ss	(13.80)	(13.78)	22.48	(27.58)	45.21	(55.15)
	Item• that will be reclassified subsequently to profit or lossDebt instruments through other comprehensive income~ netchange in fair value	0.10	17.34	(] 5.14)	17.44	(24.46)	(2.14)
	Income tax relating to items that wm be reclassified to profit orloss	(0.03)	(6.06)	5.32	(6.09)	8.55	0.75
	Exchange differences on translation of foreign operations	28.48	(9.11)	267.83	l937	267.83	84.39
	N-et other comprehensive income to be reclassifiedsubsequently to profit or loss	28.55	2.17	258.01	30.72	251.92	83.00
	0th-er comprehensive income for the period /year, net oftncome tax	14.75	(11.61)	280.49	3.14	297,13	27.85
VII	Total comprehensive income for the period/ y-ear	436,84	296.88	2,057.55	733.72	2,460.92	10,248.74
	VIII Profit for the period I year attributable to
	Shareholders of the Company	422.09	308.49	1,777.06	730.58	2,163.79	10,220.89
		422.09	308.49	1,777.06	730.58	2,163.79	10,220.89
IX	Other comprehensive income for the period / year
	attributable toShareholders of the Company	14.75	(l l.61)	280.49	3.14	297.13
		14.75	(ll.61)	280.49	3.14	297.13	27.8527.85
X	Total comprehensive income for the period /year
	attributable toShareholders of the Company	436.84	296.88	2,057.55	733.72	2,460.92	10.248.74
		436.84	296.88	2,057.55	733.72	2,460.92	10,248.74
Xi	Paid up Equity Share Capital (face value Rs. 10 each)	6.898,6[	6,872.l2	6,806.17	6,898.61	6,806.17	6,845.76
XII	Other Equity						42,824.90
	XIII Earnings per equity share of Rs. 10 each
	Basic (in Rs)	0.62	0.45	2.62	1.07	3.19	15.01
	Diluted (in Rs)	0.61	0.44	2.56	l.05	3.12	14.74

Statement of Unaudited Standalone Financial Results of Ne-wgen Software Technologies Limited For !he quarter and half year ended 30 September 2019

						(Amount in Rupees lakhs)
		Quarter ended		Half year ended		Year ended
Partkulars	30 September2019(Unaudited)	30 June2019(Unaudited)	30 September2018(Unaudited)	30 September2019(Unaudited)	30 September2018(Unaudited)	31 March2019(Audited)
l Income
Revenues from operations	13,112.95	11,356.79	13,521.67	24,469.74	22,633.54	55,204.05
Other income	478.3813,591.33	293.59II,650,38	568.5514,090.22	771.9725,241.71	1,352.2723,985.81	2,022.8657,226.91
Total income
II Expenses
Employee benefits expense	7,818.16	6,622.92	6,317.29	14,441.08	11,953.04	24,873.40
Finance-costs	329.80	177.72	189.88	507.52	386.49	841.12
Depreciation and amortization expense	447.65	436.88	144.89	884.53	286.26	580.17
Other expensesTot~l expense-s	4,575.3913,171.00	4,191.63I 1,429.15	5,082.9711,735.03	8,767.0224,600.15	8,713.8821,339.67	18,420.3344,715.02
Ill Profit before tax	420.33	221.23	2,355.19	641.56	2,646.14	12,511.89
IV Tax expense
Current tax	440.46	41.87	331.54	482.33	455.57	2,792.96
Deferred tax (credit)/charge	(345.46)	8.12	186.60	1337.34)	126.58	135.85
Total tax -expense	95.00	49.99	518.14	144.99	582.15	2,928.81
V Net profit for the period / year	325.33	171.24	1,837.05	496.57	2,063.99	9,583.08
VI Other tompreheusive lncome / {Joss) for the pe1·iod/yearItems that win not be redassified subsequent1y to profit or loss
Remeasurement of defined benefit liability/ {asset)	(21.20)	(2119)	34.74	(4239)	69.49	(84. 78)
Income tax relating to items that will not be reclassified to profit or loss	7.40	7.41	(1226)	14.81	(24.28)	29.63
Net othe;r comprehensive income/ (Loss) not to be reclassified subsequ-endy to	(13,80)	(13.78)	22.48	(27.58)	45.21	(55.15)
profit oi· loss
Items that will be redassffi-ed subsequently to profit or Eoss
Debt insiruments through other comprehensive income w net charige in fair value	O.IO	17.34	(15.14)	17.44	(24.46)	(2.14)
Income tax relating to items that will be reclassified to profit or loss	(0.03)	(6.06)	5.32	(6.09)	8.55	0.75
Net other comprehensive. in-come/ (loss) to be reclauified subsequently to	0.07	11.28	(9.82)	11.35	(15.91)	(1.39)
profit or loss
Other comprehensive income for the period/ year-, net of income tax	(13.73)	(250)	12.66	(]6.23)	29.30	(56.54)
',,11 Total comnrehe.nsive income for the oeriod / 'earVIII Profit for the period/ year .attributable to	311.60	168.74	1,849.71	480,34	2,093.29	9,526.54
Shareholders of the Company	325.33	171.24	1,837.05	496.57	2,063.99	9,583.08
	325.33	171.24	1,837.05	496.57	2,063.99	9,583.08
TX Other comprehensive income for the period/ yenl' nttributable to
Shareholders of the Company	(13 73)	(250)	12.66	/16.23)	29.30	(56.54\
	(13.73)	(2.50)	12.66	(16.23)	29.30	(56.54)
X Total comprehensive income for the period I year att!'ibutable to
Shareholders of the Company	311.60	168.74	1,849.71	480.34	2,093.29	9,526.54
	311.60	168.74	1,849.71	480.34	2,093.29	9,526.54
XI Paid up Equity Share Capital (face value rupees 10 each)	6,898.61	6,871.12	6,806.17	6,898.61	6,806.17	6,845.76
XII Othe1· Equity						41,551.66
XIII Earnings per equity share of Rs. 10 -each
Basi:c(in Rs)	0.47	0.25	2.70	0.72	3.04	14.08
Diluted (in R,)	0.47	0.25	2.65	0.72	2.98	13.82

Segment Reporting (Consolidated) :

(Amount in Rupees lakhs)
			Quarter ended		Half year ended		Year ended
	Particulars	30 September2019(Unaudited)	30June2019(Unaudited)	30 September2018(Unaudited)	30 September2019(Unaudited)	30 September2018(Unaudited)	31 March2019(Audited)
I	Revenue by geographical segment
	India	4,370.90	4,272.39	4,509.40	8,643.29	8,036.26	20,013.53
	EMEA	5,067.75	3,614.71	4,884.84	8,682.46	8,057.70	17,742.56
	APAC	1,665.79	1,296.35	1,332.75	2,962.14	2,120.03	6,889.85
	USA	4,295.30	3,913.16	4,239.02	8,208.46	7,399.44	17,418.21
	Australia
	Total	15,399.74	13,096.61	14,966.01	28,496.35	25,613.43	62,064.15
	Less : Inter-segment revenue
	N-et revenue of operations from externnl customers	15,399.74	13,096.61	14,966.01	28,496.35	25,613.43	62,064.15
II	Segment profit before tax
	India	(526.44)	145.04	699.88	(381.40)	421.70	3,389.00
	EMEA	741.93	151.87	480.78	893.80	479.71	3,754.31
	APAC	363.49	145.02	465.03	508.51	269.31	2,273.50
	USA	383.59	307.33	617.24	690.92	1,069.67	3,526.63
	Austrafia	/88.07)	(1.89)		(89.96)
	Total	874.50	747.37	2,262.93	1,621.87	2,240.39	12,943.44
	Add: Other income	480.43	294.99	582.38	775.42	1,362.11	2,037.97
	Less: Unallocated expenditure	(789.26)	(638.44)	(518.40)	(1,427.701	(782.19'	(1,623.22)
	Profit before tax	565.67	403.92	2,326.91	969.59	2,820,31	13,358.19
	Less : Tax expense	143.58	95.43	549.85	239.0l	656.52	3,137.30
	Net p-rofit after taxes	422.09	308.49	1,777.06	730.58	2,163.79	10,220.89
III	Segment assets
	lndia	9,129.95	9,909.08	10,736.53	9,129.95	10,736.53	11,904.61
	EMEA	10,256.98	10,374.52	11,555.04	10,256.98	lJ,555.04	12,156.06
	APAC	3,298.30	2,862.50	2,560.09	3,298.30	2,560.09	4,450.97
	USA	8,106.59	7,484.64	7,308.80	8,106.59	7,308.80	6,596.41
	Ausa·alia	161.10	240.27		161.10
	Total	30,952.92	30,871.01	32,160.46	30,952.92	32,160.46	35,108.05
	Add: Unallocated assets	42,666.21	43,948.39	30,878,02	42,666.21	30,878.02	39,152.37
	Total assets	73,619.13	74,819.40	63,038.48	73,619.13	63,038.48	74,260.42
IV	Segment lia bmties
	India	4,863.52	5,259.91	5,673.75	4,863.52	5,673.75	4,571.86
	EMEA	4,465.32	5,195.11	2,962.04	4,465.32	2,962.04	5,336,58
	APAC	964.45	1,285.55	729.65	964.45	729.65	1,505.70
	USA	4,622,50	3,994.91	3,273.88	4,622.50	3,273.88	3,331.82
	Australia	10.88			10.88
	Total	14,926.67	15,735.48	12,639.32	14,926,67	12,639.32	14,745.96
	Add: Unallocated liabilities	10,663.99	9,186.83	8,860.35	10,663.99	8,860.35	9,843.80
	Total Liabilities	25,590.66	24,922.31	21,499.67	25,590.66	21,499.67	24,589.76

NEWGEN

Segment Reporting (Standalone) :

(Amount in Rupees lakhs)
			Quarter ended		Half year ended		Year ended
	Particulars	30 September2019(Unaudited)	JO June2019(Unaudited)	30 September2018(Unaudited)	30 September2019(Unaudited)	30 September2018(Unaudited)	31 March2019(Audited)
I	Revenue by geographical segment
	India	4,370.90	4,272.39	4,509.40	8,643.29	8,036.26	20,013.53
	EMEA	4,943.29	3,523.45	4,829.96	8,466.74	7,9!0.81	17,445.70
	APAC	1,420.32	1,093.37	1,236.31	2,513.69	1,898.51	6,174.90
	USA	2,378A4	2,467.58	2,946.00	4,846.02	4,787.96	11,569.92
	Australia	-	-	-	-	-	-
	Total	13,112.95	11,356.79	13,521.67	24,469.74	22,633.54	55,204.05
	Less : Inter-segment revenue	-	-	-
	Net rev-enue of onerations from external customers	13,112.95	11,356.79	13,521.67	24,469.74	22,633.54	55,204.05
II	Segment profit before tax
	India	(528.16)	143.32	698.63	(384.84)	418.91	3,382.91
	EMEA	731.68	139.31	483.33	870.99	471.24	3,728.17
	APAC	272.51	98,69	477.22	371.20	273.05	2,125.77
	USA	255. [9	184.74	645.86	439.93	912.87	2,875.40
	Australia			-
	Tot•l	731.22	566.06	2,305.04	1,297.28	2,076.07	12,112.25
	Add: Other income	478.38	293.59	568.55	77L97	1,352.27	2,022.86
	Less: Unallocated expenditure	(789.27)	(638.42)	(518.40)	(1,427.69)	(782.20)	(1,623.22
	Profit before tax	420.33	221.23	2,355.19	641.56	2,646.14	12,511.89
	Less : Tax expense	95.00	49.99	518.14	144.99	582,15	2,928.81
	Net profit after taxes	325.33	171.24	1,837.05	496.57	2,063.99	9,583.08
III	Segment assets
	India	9,IOS.33	9,889.26	10,720.40	9,108.33	10,720.40	11,885.87
	EMEA	10,155.ll	10,258.79	ll,502.86	10,155.ll	ll,502.86	12,043.87
	APAC	2,770.73	2,276.77	2,236.42	2,770.73	2,236.42	3,744.71
	USA	3,815.lO	3,927.47	4,298.49	3,815.10	4,298.49	4,09!.87
	Australia	243.55	243.55		243.55
	Total	26,092.82	26,595.84	28,758,17	26,092.82	28,758.17	31,766.32
	Add: Unallocated assets	42,666.19	43,948.39	30,878.02	42,666.19	30,878.02	39,152.37
	Total assets	68,759.01	70,544.23	59,636.19	68,759.01	59,636.19	70,918.69
IV	Segment liabilities
	India	4,860.50	5,257.40	5,671.45	4,860.50	5,671.45	4,569.15
	EMEA	4,398.79	S, 108.36	2,938.53	4,398.79	2,938.53	5,253.15
	A.PAC	807.13	988.93	522.52	807.13	522.52	1,044.23
	USA	1,479.22	1,461.49	1,023.25	l,479.22	1,023.25	l,810.92
	Australia		-	-		-	-
	Total	11,545.64	12,816.18	10,155.75	11,545.64	10,155.75	12,677.45
	Add: Unallocated liabilities	10,663.99	9,186.83	8,860.32	10,663.99	8,860.32	9,843.80
	Total liabilities	22,209.63	22,003.y! --	19,016.07	22,209,63	19,016.07	22,521.25

	Statement of Assets and Liabilities ofNewgen Software Technologies Limitedas at 30 September 2019
				(Amount in Rupees lakhs)
	Consolidated		Standalone
Particulars	As at	As at	As at	As at
	30 September 2019(Unaudited)	31 March 2019{Audited)	30 September 2019(Unaudited)	31 March 2019(Audited)
I.ASSETS
(1) Non-current assets
(a) Property, plant and equipment	6,674.94	6,763.48	6,590.45	6,676.59
(b) Capital work in progress	10,529.41	8,321.36	10,529.41	8,321.36
( c) Right-of-use asset	2,726.09	-	2,414.62	-
( d) Other intangible assets	!64Jl	!30.55	164.31	130.55
(e) Investments in subsidiaries	-	-	1,167.91	922.39
(f) Financial assets
(i) Loans	421.15	362.45	376.12	329.80
(ii) Others financial assets	327.66	323.18	321.17	316.69
(g) Deterred tax assets (net)	2,221.52	1,784.06	2,204.61	1,790.62
(h) Income tax assets (net)	2,072.80	996.52	2,049.28	995.21
(i) Other non-current assets	228.98	144.65	228.98	144.65
(2) Current assets
(a) Financial assets
( i) Investments	4,530.84	5,165.86	4,530.84	5,165.86
(ii) Trade receivables	19,099.34	25,268.91	14,151.1 !	23,684.65
(iii) Cash and cash equivalents	7,423.94	15,775.13	4,861.46	13,355.94
(iv) Other bank balances	8,516.11	2,139.40	8,516.ll	2,139.40
(v) Loans	33.36	44.63	33.36	44.63
(vi) Others financial assets	7,615.07	6,275.55	9,808.46	6,275.55
(b) Other current assets	1,033.61	764.69	810.81	624.80
TOT AL ASSETS	73,619.13	74,260.42	68,759.01	70,918.69
II. EQUITY
(a) Equity share capital	6,898.61	6,845.76	6,898.61	6,845.76
(b) Other equity	41,129.85	42,824.90	39,650.77	41,551.66
Equity attributable to shareholders of the Company	48,028.46	49,670.66	46,549.38	48,397.42
TOT AL EQUITY	48,028.46	49,670.66	46,549.38	48,397.42
III. LIABILITIES
(1) Non - current liabilities
(a) Financial liabilities
(i) Borrowings and lease liabilities	3,416.48	1,028.56	3,062.27	1,028.56
(b) Deferred tax liabilities (net)	11.26	11.01	-	-
( c) Provisions	2,108.86	1,929.02	2,108.86	1,929.02
(2) Cnrrent liabilities
(a) Financial liabilities
(i) Borrowings	6,544.86	6,772.64	6,544.86	6,772.64
(ii) Trade payables	2,611.96	2,160.57	2,526.31	2,461.48
(iii) Others financial liabilities	3,403.01	3,880.73	3,295.57	3,796.97
(b) Deferred Income	6,180.82	6,795.27	3,498.74	4,684.14
( c) Other current liabilities	864.28	1,579.39	795.34	1,502.00
( d) Provisions	449.14	432.57	377.68	346.46
TOTAL EQUITY AND LIABILITIES	73,619.13	74,260.42	68,759.01	70,918.69

NEWGEN

Consolidated Statement of Cashflows of Newgen Software Technologies Limited	for the period ended 30 September 2019
			(Amount in Rupees lakhs)
		For the halfvear ended	For the year ended
Particulars	30 September 2019	30 September 2018	31 March 2019
	(Unaudited)	(Unaudited)	(Audited)
A. Cash flows from operating activities
Net profit before tax	969.59	2,820.32	13,358.19
Adjustments for:
Depreciation and amortisation	973.66	294.81	597.99
Loss/ (gain) on sale of property, plant and equipment	(0.80)	(0.80)	3.89
Loss allowance on trade receivables	599.84	574.52	1,737.57
Liabilities/ provision no longer required written back	(5.00)	-	(148.19)
Loss allowance on other financial assets	5.00		22.82
Unrealised foreign exchange gain	(8.09)	(493.00)	(92.08)
Adjustment in deferred rent	-	(4.34)	-
Share based payment - equity settled	36,7&	84.15	178.25
Finance costs	469.13	336.85	788.90
Fair value changes of financial assets at FVTPL	(89.28)	(73.54)	(245.75)
Loss on sale of mutual funds (net) at FVTPL	0.71	5.07	-
Loss on sale of bonds at FVTOCI	-	-	5.01
Interest income on security deposits at amortised cost	(21.01)	(14.11)	(28.60)
	(61.16)	(64.69)	(127.46)
Interest income from govemment and other bonds af FVTOCI	(444.00)	(363.50)	(745.14)
Interest income from bank deposits and others
Operating cash flow before working capital changes	2,425.37	3,101.74	15,305.47
Decrease/ (increase) in trade receivables	10,549.55	l,160.19	(4,478.37)
(Increase) I decrease in loans	(14.04)	11.04	236.23
(Increase)/ decrease in other financial assets	(3,510.45)	(2,160.34)	(769.54)
(Increase)/ decrease in other assets	(466.43)	(354.03)	13.70
Increase in provisions	168.68	210.IO	326.05
Increase I (decrease) in other financial liabilities	(204.56)	(783.99)	303.34
(Dec-rease) / increase in other liabilities	(1,371.87)	376.35	2,009.87
Increase in trade payables	(2,008.52)	(66.04)	(161.381
Cash generated from operations	5,567,73	1,495.02	12,785.38
Income taxes paid (net)	(1,669.30)	(1,054.24)	(2,564.78)
Net cash J,!eneratecl from operatin!! activities (A)	3,898.43	440.78	10,220.60
B. Cash flows from investing activities	(2,702.08)
Acquisition or construction of property plant and equipment including		(1,836.52)	(7,191.38)
intangible assets, capital work-in-progress and capital advances
Proceeds from sale of property, plant and equipment	0.80	1.58	16.48
Purchase of mutual funds and government bonds	(622.35)	-	-
Proceeds from sale of mutual funds and bonds	1,363.38	98.54	98.08
Interest income from bo11ds	99.61	74.66	74.65
Interest received on bank deposits and others	343.69	50.88	627.63
Investment in bank deoosits (net)	(6,376.71)	-	(2,160.85)
Net cash used in investing activities (B)	(7,893.66)	(1,610.86)	(8,535.38)
C. Cash flows from financing activities
(Repayment of) I proceeds from short-tenn bo1wwings (net)	(312.05)	907.45	1,856.00
Repayment oflease liability	(1,441.89)	(207.51)	(298.76)
Proceeds from issue of equity shares under ESOP scheme	332.97	111.89	361.30
Dividend paid (including corporate dividend distribution tax) - Equity	(2,516.68)	(1,669.35)	(1,667.57)
Finance cost	(453.15)	(336.85)	(788.90)
Gain on transfer of equitv shares by Newgen ESOP trust	20.57	25.23	26.13
Net cash (used in) I generated from financing activities (C)	(4,370.23)	(1,169.14)	(511.81)
Net increase in cash and cash equivalents (A + B + C)	(8,365.46)	(2,339.22)	1,173.41
Cash and cash equivalents at the beginning of the year	15,775.12	14,548.34	14,548.34
Effect of exchange differences on translation of foreign currency cash and cash	14.28	214.39
equivalents
			53.38
Cash and cash equivalents at the end of the year	7,423.94	12,423.51	15,775.13

Standalone Statement of Cashflows of Newgen Software Technologies Limited	for the period ended 30 September 2019
			(Amount in Rupees lakhs)
Particulars	30 September 2019(Unaudited)	For the half vear ended30 September 2018(Unaudited)	For the year ended31 March 2019(Audited)
A. Cash flows from operating activities
Net profit before tax	641.56	2,646.14	12,511.89
Adjustments for:
Depreciation and amortisation	884.53	286.26	580.17
Loss / (gain) on sale of property, plant and equipment	(0.80)	(0.80)	3.89
Loss allowance on trade receivables	488.07	689.85	1,573.26
Liabilities/ provision no longer required written back	(5.00)	-	(148.19)
Loss allowance on other financial assets	5.00	-	22.82
Unrealised foreign exchange gain	(10.55}	(493 00}	(92.08)
Share based payment - equity settled	34.81	79.88	174.05
Finance cost	469.13	336.85	788.90
Fair value changes of financial assets at FVTPL	(89.28)	(73.54)	(245.75)
Loss on sale of mutual funds (net) at FVTPL	-	5.07	-
Loss on sale of bonds at FVTOCI	0.71	-	5.07
Interest income on security deposits at amortised cost	(2L01)	(14.11)	(28.60)
Interest income from government and other bonds at FVTOCI	(6Ll6)	(64.25)	(127.46)
Interest income from bank deoosits and others	(444.02)	(363.94)	{744.87)
Operating cash flow before working capital changes	1,891.99	3,034.41	14,273.10
Decrease/ (increase) in trade receivables	9,140.29	1,641.46	(4,802.79)
(Increase)/ decrease in loans	{14.04)	l 1.04	236.23
Increase in other financial assets	(3,480.78)	(2,157.43)	(766.29)
Increase / decrease in other assets	(203.36)	(310.57)	48.95
Increase in provisions	168.68	210.10	326.05
Increase / ( decrease ) in other financial liabilities	(222.34)	(777.76)	273.00
(Decrease)/ increase in other liabilities	(1,892.06)	(223.78)	1,255.99
Increase in trade payables	69.83	193.09.	465.91
Cash generated from operations	5,458.21	1,620.56	11,310.14
Income taxes paid (net)	(1,536.39)	(994.48)	(2,441.58)
Net cash generated from operating activities (A)	3,921.82	626.08	8,868.57
B. Cash flows from investing activities
Acquisition or construction of property plant and equipment including	(2,696.06)	(1,835.72)	(7,177.34)
intangible assets, capital work-in-progress and capital advances
Proceeds from sale of property plant and equipment	0.80	1.58	16.48
Purchase of mutual funds and bonds	(62235)	-	-
Proceeds from sale of mutual funds and bonds	1,363.38	98.54	98.08
Interest income from bonds	99.61	74.66	74.65,
Interest received on bank deposits and others	343.69	-	627.36
Investment in subsidiary Company	(243.55)	-	-
Investment in bank deposits (net)	(6,376.71)	50.88	(2,160.85'
Net cash used in investing activities (B)	(8,131.19)	(1,610.06)	(8,521.61)
C. Cash flows from financing activities
(Repayment of)/ proceeds from short-term borrowings (net)	(312.05)	907.45	l,856.00
Repayment of lease liability	(1,356.77)	(207.51)	(:298 76)
Proceeds from issue of equity shares under ESOP scheme	332.97	1 l 1.89	361.30
Dividend paid (including corporate dividend distribution tax) - Equity	(2,516 68)	(1,669.35}	(1,667 57)
Finance cost	(453.15)	(336 85)	(788 90)
Gain on transfer of equity shares by Newgcn ESOP trust	20.57	25.23	26.13
Net cash used in / generated from financing activities (C)	(4,285.11)	(1,169.14)	(511.81)
Net (decrease)/ increase in cash and cash equivalents (A+ B + C)	(8,494.48)	(2,153.12)	(164.86)
Cash and cash equivalents at the beginning of the year	13,355.94	!3,520.79	13,520.79

Cash and cash equivalents at the end of the year 4,861.46 11,367.67 13,355.94

Statement of Unaudited Standalone and Consolidated Financial Results of Newgen Software Technologies Limited For the quarter and half year ended 30 September 2019

Notes:

• I The above financial results for the quaiter and half year ended 30 September 2019 were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on 22 October 20 l 9. Standalone and consolidated financial results of the Company for the quaiter and half year ended 30 September 2019 are prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and relevant rules thereunder.
• 2 The auditors have cmTied out limited review of standalone and consolidated results of the Company for the quarter and half year ended 30 September 2019. There are no qualifications in the Auditor's repmt on these financial results.
• 3 The Board of Directors on 15 May 2019 have recommended a payment of Final Dividend of Rs. 3 per share ( on equity share of par value of Rs. 10 each) for the year ended 31 March 2019 which was approved by the shareholders at the Annual General Meeting held on 7 August 2019. The dividend was paid on 13 August 2019.
• 4 Effective I April 2019 the Compm1y has adopted Ind AS 116, and applied the standard to its leases, retrospectively, with the cumulative effect of initially applying the Standard, recognised on the date of initial application ( l April 2019). Accordingly, the Company has not restated comparative information, instead, the cumulative effect of initially applying this standard has been recognised as an adjustment to the opening balance of retained earnings as on 1 April 2019. This has resulted in recognising a right-of-use asset of Rs. I, 769. 79 lakhs and a corresponding lease liability of Rs. 2,010.89 lakhs by adjusting retained earnings net of taxes of Rs. 247.14 !akhs (including the impact of defemd tax created of Rs. 67.93 lakhs) as at 1 April 2019. In the statement of profit and loss for the cunent period, the nature of expenses in respect of operating leases has changed from lease rent in previous periods to depreciation cost for the right-of-use asset and finance cost for interest accrued on lease liability.
• 5 During the quarter ended 30 September 20 l9, the !PO proceeds were pmtially utilised for furnishing of office premises near Naida-Greater Noida Expressway, Uttar Pradesh and for general corporate purpose amounting to Rs. 1,748.69 lakhs and Rs. 462.31 lakhs respectively. As at 30 September 2019, the remaining proceeds have been temporarily invested/ deposited in cash and cash equivalents including deposits with banks.

For and on behalf of the Board of Directors of

Diwakar Nigam Chainnan & Managing Director DIN: 00263222

Place: New Delhi Date: 22 October 2019

NEWGEN SOFTWARE

Connecting Enterprises. Transforming Experiences.

Oct 2019

Q2 FY'20 Investor Update

COPYRIGHT 2016, NEWGEN SOFTWARE INC. COPYRIGHT 2019, NEWGEN SOFTWARE

NEWGEN SOFTWARE TECHNOLOGIES: Software products company providing enterprise-wide, mission critical solutions helping organisations drive digital transformation and competitive differentiation

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

Create smarter processes, empower knowledge workers and build responsive business

Engagement (CCM)

Create, personalize and deliver interactive communication to enhance customer experience

(2) All figures as of March 2019, except Employee figures which as as of Sep 2019

Newgen* - Financial Snapshot (FY'19)

1) All figures as of March 2019

2) Adjusted for utilisation of IPO proceeds

3) Free Cash Flow = Net Operating Cash Flow – Capex (adjusted for utilisation of IPO proceeds)

Our platform automates Content, Processes, and Communication ►

and have Strong Industry Recognition

Gartner

ECM	A Challenger in Magic Quadrant for Content Services Platform,25 October 2018, Karen A. Hobertet alNamed on all 5 use-cases in Critical Capabilities for ContentServices Platform, Karen Hobert et al, 25 October 2018	"A Strong Performer" in ECM Content PlatformsWave™ Report, Q3 2019
BPM	A Niche Player in Magic Quadrant for Intelligent BusinessProcess Management Suites, 30 January 2019, Rob Dunieet alA Challenger in Magic Quadrant for BPM-Platform-BasedCase Management Frameworks,,24 October 2016, Rob Dunie, Janelle B. Hill*	"Strong Performer" in the Forrester WaveTM: DigitalProcess Automation For Wide Deployments, Q1 2019"Leader" in the Forrester WaveTM: Cloud-BasedDynamic Case Management (DCM), Q1 2018
CCM	A Niche Player in Magic Quadrant forCustomer Communications Management Software,26 January 2017, Karen M. Shegda, Pete Basiliere*	"Strong Performer" in the Forrester WaveTM: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.

Focused on Driving Innovation Through R&D

(1) 44 Patent Filings, of which 13 patents are granted in India & the USA and 21 patent applications are under processing

Lower Total Cost of Ownership

A holistic and industry-recognized platform to manage content, processes & communication, enabling DX and CX initiatives

Low Code Rapid Development

A low code development environment for all, across all aspects of the unified platform

Modern Technologies and India Support

India connect for training and support on intelligent automation with RPA, mobile, social sensing, AI/ML, auto-classification, and analytics

Smooth Migration to SaaS

Multiple cloud deployment models with industry-leading compliances and data support

Flexibility to Deal with Newgen

A pro-partner mindset and policies throughout the buying journey, including contracting, with adaptive pricing models

Better Choice than Open Source

A commercially-viable company with enterprise-grade security (SOC2, WORM, HIPAA, PCI, HITRUST), hosting, and support model

Multiple Revenue Streams

	FY19RevenueSplit		5 year CAGRGrowth
Sale of Products	25%	Sale of licenses for the software products	25%
ATS / AMC	17%	Annual maintenance contracts and technical support	22%
SaaS	4%	Cloud functionality with subscription fees on a Per UserPer Month model	127%
Support	28%	Support/development services charged on a periodic basis	22%
Implementation	23%	Installing and integrating products with the customer'sexisting platform or system	12%
Digitisation(1)	3%	Scanning of documents and archival to documentmanagement	9%
		Profitable Track Record of Increasing Business from Existing Clients

COPYRIGHT 2016, NEWGEN SOFTWARE 9 77% revenues derived from existing customers in FY'19

Experienced Senior Management Team with Distinct Operating Culture

Founder-led management team with extensive experience

• Supported by a strong second line management
• Fostered culture of innovation, entrepreneurship and teamwork
• 10 out of 20 AVP have been with the company for 15+ years

VP – Sales • Been with Newgen since 2013 • Experience of 21 years

Vivek Bhatnagar VP – Sales • With Newgen since 2011 • Experience of 20 years

• Driving organization wide scaling of competence of Delivery and all customer facing groups Shanmugam Nagappan

VP – Software Development • Responsible for managing delivery functions on projects executed from SDC, Chennai

Ashok Kapoor

Tarun Nandwani

2015

Dushyant Kumar

CRM

VP – Software Development • Been with Newgen since

Sr. VP – Business Management • Been with Newgen since 1993

from existing customers and

• Experience of 26 years

Priyadarshini Nigam

• Whole Time Director
• Been with Newgen since 1997
• field of journalism

• S.J. Raj Sr. VP – HRD • Been with Newgen since 1992
• Experience of 31 years

• Arun Kumar Gupta Chief Financial Officer
• Been with Newgen since 2010
• Oversees financial reporting & planning, treasury, taxation, IR

US Sales

Anand Raman

• Been with Newgen since 1994 • Deep experience in product
• development life-cycle

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

Independent Board of Directors

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

Saurabh Srivastava

10 10 Non Executive, Independent Director Several years of experience in Information technology

Management Organisation Structure

T.S. Varadrajan Whole Time Director • Co-founded Newgen in 1992 • 35+ years of experience in development of software products • Masters in Computer Science from IIT Madras

• More than 10 years of experience in the

5 Year Financial Overview

Continued Growth Momentum in Revenues and Profitability

COPYRIGHT 2016, NEWGEN SOFTWARE INC. 11 (1) EBITDA Adjusted for Other Income. Calculated as 'Profit after tax + Tax expense + Finance costs + Depreciation and amortisation - Other income'

FY'15 and FY'16 financials are Restated Consolidated Financials as per Indian GAAP Accounting Standards

FY'17, FY'18 and FY'19 financials are Consolidated Financials as per Ind AS Accounting Standards

Q2 FY'20 Results

Financial Summary (Consolidated)

		Q2FY20	Q2FY19	YoY	Q1FY20	QoQ	H1 FY20	H1 FY19	YoY
Particulars	Metrics	(Unaudited)	(Unaudited)	Growth	(Unaudited)	Growth	(Unaudited)	(Unaudited)	Growth
en)u	Revenue from operations	1,540.0	1,496.6	3%	1,309.7	18%	2,849.6	2,561.3	11%
MnRev	Other Income	48.0	58.2	-18%	29.5	63%	77.5	136.2	-43%
NeR(I	Total Income	1,588.0	1,554.8	2%	1,339.2	19%	2,927.2	2,697.6	9%
n)sofitMRrNP	EBITDA (adjusted for otherincome)	91.3	208.4	-56%	77.4	18%	168.6	214.0	-21%
	Profit before tax	56.6	232.7	-76%	40.4	40%	97.0	282.0	-66%
(I	Profit after tax	42.2	177.7	-76%	30.8	37%	73.1	216.4	-66%
%)n (	(adjusted forEBITDAother income)	5.9%	13.9%		5.9%		5.9%	8.4%
gir	Profit before tax	3.6%	15.0%		3.0%		3.3%	10.5%
aM	Profit after tax	2.7%	11.4%		2.3%		2.5%	8.0%
R)S	Basic	0.62	2.62	-76%	0.45		1.07	3.19	-67%
PNE(I	Diluted	0.61	2.56	-76%	0.44		1.05	3.12	-66%

Q2 FY'20

• Revenues at Rs 1,540.0Mn for Q2 FY'20; up 3% YoY, impacted by market headwinds especially in India and EMEA region.
• EBITDA at Rs 91.3Mn as the Company continued to make investments in talent acquisition and employee retention.

Diversification Across Verticals and Geographies

New Logo Wins – Q2 FY'20

New Logo Wins during Q2 FY'20

Major deals include:

• License Agreement with a commercial bank based in Kenya
• License Agreement with a 25 year old financial institution in the Americas Region
• License Agreement with a leading Indian micro-finance institution headquartered in Bangalore, focused on providing micro-loans to women customers predominantly in Rural Areas in India.
• 5 Cloud deals across Banking & Financial Services and Healthcare segments in the Americas Region

Business Highlights – Q2 FY'20

Analyst Recognitions:

Positioned as a Strong Performer" in the Forrester Wave™: ECM Content Platforms, Q3 2019, authored by Cheryl McKinnon et al. Newgen has achieved the highest score of 4.08 among all vendors in the "Current Offering" category. The report recognized Newgen as "a good fit for enterprises looking to modernize their critical content and process applications and seeking a fresh, cost-effective alternative to older apps".

Key Awards:

Recognized as the "Enterprise Content Management Vendor of the Year" at Frost & Sullivan's 2019 India ICT Awards

Innovation:

Received a total of 13 patents till date across India and US

P&L Statement

	Q2 FY 2020	Q2 FY 2019	Q1 FY 2020	H1 FY 2020	H1 FY 2019
(All amounts in INRm, except per share data and unless otherwise stated)	(Unaudited)	(Unaudited)	(Unaudited)
Revenue
Revenue from operations	1,540.0	1,496.6	1,309.7	2,849.6	2,561.3
Other income	48.0	58.2	29.5	77.5	136.2
Total revenue	1,588.0	1,554.8	1,339.2	2,927.2	2,697.6
Expenses
Employee benefits	911.2	725.5	778.4	1,689.7	1,375.9
Finance costs	33.5	19.0	18.3	51.8	38.6
Depreciation and amortisation	49.2	14.9	48.2	97.4	29.5
Other expenses	537.5	562.7	453.9	991.3	971.5
Total expenses	1,531.5	1,322.1	1,298.8	2,830.2	2,415.5
Profit before tax	56.6	232.7	40.4	97.0	282.0
Tax expenses
Current tax	49.6	36.0	10.4	60.0	50.6
Deferred tax (credit)/charge	-35.3	18.9	-0.8	-36.1	15.1
Profit after tax for the year	42.2	177.7	30.8	73.1	216.4
Other comprehensive income/(loss) for the year, net of income tax	1.5	28.0	-1.2	0.3	29.7
Total comprehensive income for the year	43.7	205.8	29.7	73.4	246.1
Earnings per equity share (face value of Rs. 10 per share)
Basic earning per share	0.62	2.62	0.45	1.07	3.19
Diluted earning per share	0.61	2.56	0.44	1.05	3.12

COPYRIGHT 2019, NEWGEN SOFTWARE 19

Your Trusted Digital Transformation Partner

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. 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.