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Saksoft Limited Earnings Release 2023
61942_rns_2022-11-10_f5b8bf62-6a0c-423f-9166-6ec3fbca6aa6.pdf
Earnings Release
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Saksoft Limited CIN: L72200TN1999PLC054429 Global Infocity Park, Block A, 2nd Floor, # 40, Dr.M.G.R. Salai, Kadanchavadi Perungudi, Chennai – 600 096. P: +91-44-2454 3500 F: +91-44-2454 3510 Email: [email protected]
November 10, 2022
To
| The Listing/Compliance Department | The Listing/Compliance Department |
|---|---|
| The National Stock Exchange of India | BSE Limited |
| Limited | Floor No.25, Phiroze JeejeebhoyTowers, |
| "Exchange Plaza" | Dalal Street, |
| Bandra Kurla Complex | Mumbai – 400 001 |
| Bandra (E) | |
| Mumbai – 400 051 | |
| Stock Code: SAKSOFT | Stock Code: 590051 |
Dear Sir/Madam,
Sub: Press Release-reg.
We wish to inform the Exchange(s) that the Company is making the press release with respect to the Financial Results for the Second Quarter and Half Year ended September 30, 2022 as enclosed with this letter today.
Please take on record.
Yours faithfully, For Saksoft Limited
Meera Venkatramanan Company Secretary
Saksoft Limited Reported Strong Revenue growth of 44% YoY and PAT growth of 21% for H1FY23
Chennai, India – 10th November, 2022: Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), a leading digital transformation solution partner for Fintech, Transportation & Logistics, Telecom & Utilities, Retail Ecommerce and Health care customers worldwide, announced today its financial results for the Second quarter and half year FY23 ended 30 th September 2022.
Commenting on the Q2 & H1FY23 results, Aditya Krishna, Chairman & Managing Director, Saksoft Limited, said: "We have delivered a good performance in the first half of FY 22-23 by achieving a 44% increase in revenues compared to last year. Our select industry verticals continue to be our area of focus. With the acquisition of Terafast Networks, Chennai-based Cloud engineering solutions company having expertise in Cloud, Containerization, DevOps, and Virtualization Services, we have further strengthened our capabilities and offerings. The combination of our 'Inch Wide Mile Deep' and 'String of Pearls' strategies makes us confident of achieving the revenue growth of over 25% for the full year ending 31st March 2023."
Review of the Consolidated Financial Performance for Quarter and half year ended 30 th September 2022:
| Figures in INRCrore | Q2FY23 | Q1FY23 | Q-o-Q Growth | Q2FY22 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Revenue | 163.84 | 148.02 | 10.7% | 114.73 | 42.8% |
| EBITDA | 25.73 | 22.47 | 14.5% | 19.27 | 33.5% |
| EBITDA Margin % | 15.7% | 15.2% | 16.8% | ||
| PAT | 19.32 | 17.80 | 8.5% | 13.09 | 47.6% |
| PAT Margin % | 11.8% | 12.0% | 11.4% | ||
| *Basic EPS (INR) | 1.93 | 1.78 | 1.31 |
| Figures in INRCrore | H1FY23 | H1FY22 | Y-o-Y Growth |
|---|---|---|---|
| Revenue | 311.87 | 216.87 | 43.8% |
| EBITDA | 48.21 | 34.81 | 38.5% |
| EBITDA Margin % | 15.5% | 16.1% | |
| PAT | 37.13 | 30.78 | 20.6% |
| PAT Margin % | 11.9% | 14.2% | |
| *Basic EPS (INR) | 3.71 | 3.09 |
*EPS has been adjusted for all comparative quarters and half year owing to stock split from face value INR 10 to INR 1
Operating Highlights:
| Revenue by Geography (%) | H1FY23 | FY22 |
|---|---|---|
| Americas | 47% | 45% |
| Europe | 27% | 32% |
| APAC & Others | 26% | 23% |
| Revenue Mix (%) | H1FY23 | FY22 |
|---|---|---|
| Offshore | 54% | 53% |
| Onsite | 46% | 47% |
| Revenue by Vertical (%) | H1FY23 | FY22 |
|---|---|---|
| Fintech | 33% | 28% |
| Transportation & Logistics | 11% | 10% |
| Telecomand Utilities* | 23% | 20% |
| Public Sector | 5% | 6% |
| Retail-Ecommerce & Health Care | 6% | 8% |
| Others | 22% | 28% |
* Re-classified Telecom vertical to Telecom & Utilities from Q2FY23 & H1FY23
| Customer Metrics | H1FY23 | FY22 | |
|---|---|---|---|
| No of clients/customers per Million Dollar | |||
| >1 Million | 13 | 11 | |
| >0.5 Million to 1 Million | 9 | 7 | |
| Clients Contribution to Revenue (%) | |||
| Top 5 | 47% | 48% | |
| Top 10 | 61% | 59% | |
| Top 20 | 74% | 70% |
| Headcount Metrics | H1FY23 | FY22 |
|---|---|---|
| Total Employee Count | 1,789 | 1,554 |
| -Technical | 1,624 | 1,406 |
| -Support | 165 | 148 |
| Utilization –IT Services % (Excl. Trainees) | 86% | 85% |
Other Highlights Q2FY23:
- Acquired Terafast Networks, a Chennai based company to enhance our Digital Transformation offerings. Terafast provides cloud engineering solutions and has expertise in Cloud, Containerization, DevOps, and Virtualization Services.
- Added 2 new customers in 0.5Mn $ revenue segment and moved one customer from 0.5mn $ to 1mn $.
- EPS of shares in the current quarter and all comparative periods have been restated to give effect of the share split such that each equity share having face value of INR 10/- (Rupees Ten only) fully paid-up, was sub-divided into ten (10) equity shares having face value of INR 1/- (Rupee one only) each, fully paid-up (w.e.f. 26th Sep 2022- record date)
- We have re-classified the erstwhile Telecom vertical to Telecom & Utilities from Q2FY23 & H1FY23.
About Saksoft
Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), a leading player in providing digital transformation solutions to help businesses stay relevant in a highly connected, rapidly evolving world. Saksoft is a niche technology specialist that provides a comprehensive suite of business transformation, information management, application development and testing services. Saksoft helps their clients level the playing field by helping them transform their business spaces. Saksoft is headquartered in Chennai (India), and has 16 offices across the USA, Europe and Asia employing over 2,000+ people. For more information, please visit www.saksoft.com
For Further Information, Please Contact:
| Company: | Investor Relations Advisors: |
|---|---|
| Mr. Niraj Kumar Ganeriwal | Mr. Hiral Keniya |
| Chief Operating Officer and Group Chief Financial Officer | [email protected] |
| [email protected] | |
| Ms. Asha Gupta | |
| Ms. Swetaleen Tripathy | [email protected] |
| Senior Manager | |
| +91 9840024120 | |
| [email protected] | |
| www.saksoft.com |
Safe Harbor Statement
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.