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Saksoft Limited — Earnings Release 2023
Aug 9, 2022
61942_rns_2022-08-09_c764d49c-3d48-4be5-81b8-b74505ecafcf.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]
August 09 , 2022
To
| The Listing/Compliance Department The National Stock Exchange of India Limited “Exchange Plaza” Bandra Kurla Complex Bandra (E) Mumbai – 400 051 Stock Code: SAKSOFT |
The Listing/Compliance Department BSE Limited Floor No.25, Phiroze JeejeebhoyTowers, Dalal Street, Mumbai – 400 001 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 First Quarter ended June 30, 2022 as enclosed with this letter today.
Please take on record.
Yours faithfully, For Saksoft Limited
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Meera Venkatramanan Company Secretary
Saksoft Limited
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For Immediate Use Q1FY23 Press Release
Saksoft Limited Reported Strong Revenue growth of 44.9% YoY in Q1FY23
- EBITDA grew by 44.5% YoY in Q1FY23
Chennai, India – 09[th] August, 2022: Saksoft Limited (BSE: 590051) (NSE: SAKSOFT), a leading digital transformation solution partner for Fintech, Transportation & Logistics, Retail E-commerce, Health care and Telecom customers worldwide, announced today its financial results for the First quarter of Full year FY23 ended 30[th] June 2022.
Commenting on the Q1FY23 results, Aditya Krishna, Chairman & Managing Director, Saksoft
Limited, said: “ We are pleased to share that we commenced this fiscal year on a strong note in the first quarter with a revenue growth of 6% sequential and 45% year over year. As we continue to focus on our ‘ Inch wide Mile Deep’ philosophy, we are also proactively managing the costs. We have been successful in carving a larger share of IT spend from our customers – this is evidenced by revenues from our Top 20 customers increasing to 74% of our total revenues. Our efforts on growth and margins are all steered to reach our guidance of becoming a 100Mn $ company by 2025. ”
Review of the Consolidated Financial Performance for Quarter ended 30[th] June 2022:
| Figures in Rs Crore | Q1FY23 | Q4FY22 | Q-o-Q Growth | Q1FY22 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Revenue | 148.02 | 139.09 | 6.4% | 102.14 | 44.9% |
| EBITDA | 22.47 | 22.15 | 1.4% | 15.55 | 44.5% |
| EBITDA Margin % | 15.2% | 15.9% | (74bps) | 15.2% | (4bps) |
| PAT | 17.80 | 17.55 | 1.4% | 17.69 | 0.6% |
| PAT Margin % | 12.0% | 12.6% | (59bps) | 17.3% | (529bps) |
| Basic EPS (Rs) | 17.79 | 17.55 | 1.4% | 17.76 | 0.2% |
Operating Highlights:
| Revenue by Geography (%) | Q1FY23 | FY22 |
|---|---|---|
| Americas | 47% | 45% |
| Europe | 29% | 32% |
| APAC & Others | 24% | 23% |
| Revenue Mix (%) | Q1FY23 | FY22 |
|---|---|---|
| Offshore | 53% | 53% |
| Onsite | 47% | 47% |
Saksoft Limited
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For Immediate Use Q1FY23 Press Release
| Revenue by Vertical (%) | Q1FY23 | FY22 |
|---|---|---|
| Fintech | 33% | 28% |
| Transportation & Logistics | 10% | 10% |
| Telecom | 19% | 20% |
| Public Sector | 4% | 6% |
| Retail- Ecommerce & Health Care | 6% | 8% |
| Others | 28% | 28% |
| Customer Metrics Q1FY23 |
Customer Metrics Q1FY23 |
FY22 |
|---|---|---|
| No of clients/customers per Million Dollar | ||
| >1 Million | 11 | 11 |
| >0.5 Million to 1 Million | 8 | 7 |
| Clients Contribution to Revenue (%) | ||
| Top 5 | 48% | 48% |
| Top 10 | 63% | 59% |
| Top 20 | 74% | 70% |
| Headcount Metrics | Q1FY23 | FY22 |
|---|---|---|
| Total Employee Count | 1,649 | 1,554 |
| - Technical |
1,484 | 1,406 |
| - Support |
165 | 148 |
| Utilization – IT Services % (Excl. Trainees) | 85% | 85% |
Other Highlights Q1FY23:
- Added 1 new customer in 0.5Mn $ revenue segment.
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 1,900+ people. For more information, please visit www.saksoft.com
Saksoft Limited
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For Immediate Use Q1FY23 Press Release
For Further Information, Please Contact:
| For Further Information, Please Contact: | |
|---|---|
| Company: | Investor Relations Advisors: |
| Mr. Niraj Kumar Ganeriwal Chief Operating Officer and Chief Financial Officer [email protected] Ms. Swetaleen Tripathy Senior Manager +91 9840024120 [email protected] www.saksoft.com |
Mr. Diwakar Pingle [email protected] Ms. Asha Gupta [email protected] |
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.