Chennai – May 2018 : The management of Newgen Software Technologies Ltd. announced results for the Quarter and Year ended 31 March 2018 [Q4 FY’18] at its Board Meeting held on 17 May 2018.
Key Financial Highlights (FY’18)
· Consolidated Revenue from operations up by 20% YoY to reach Rs 512.43 crores as compared to Rs 427.10 crores in FY’17 on the back of broad based growth and customer acquisitions across geographies.
o Revenue from Sale of Products/ License witnessed a growth of 17% YoY to reach Rs 136.95 crores
o Annuity Revenue streams (ATS/AMC and Support) witnessed a growth of 25% YoY to reach Rs 209.58 crores
o SaaS revenues witnessed a robust growth of 3X to reach Rs 11.35 crores and contributed 2% to the revenue from operations
o Implementation & Digitization revenues witnessed an increase of 11% to reach Rs 154.54 crores
· EBIDTA(adjusted for other income) up by 39% YoY to Rs 97.54 crores. EBIDTA Margin improved to 19.0% compared to 16.4% in FY’17
· Profit after tax up by 42% YoY to reach Rs 72.89 crores due to increase in scale and operational efficiencies. PAT Margin improved to 14.2% compared to 12.0% in FY’17
· Cash from operations increased to Rs 60.11 crores as on 31 March 2018 compared to Rs 36.20 crores as on 31 March 2017 due to improvement in working capital cycles
· Basic Earnings per shares improved to Rs. 11.44 in FY’18 compared to Rs 8.26 in FY’17
Key Financial Highlights (Q4 FY’18)
· Consolidated Revenue from operations were Rs 183.83 crores
· EBIDTA (adjusted for other income) was Rs 76.82 crores with EBIDTA Margins of 41.8%. The business is seasonal in nature with substantial revenues booked in the second half of the year
· Profit after tax at Rs 59.46 crores with PAT Margins of 32.3%
Key Business Highlights
· Strengthened global presence: Strong interest for products witnessed across geographies with broad based growth (YoY) in APAC (47%), EMEA (45%), USA (7%) and India (7%)
· Substantial customer wins made during the year: 120 New customers added during FY’18 compared to 98 in FY’17; Total active customers (TTM) were 520+ as of March’18
· Company continues to strengthen the horizontal product platform with vertical service accelerators: Banking & Financial Services vertical continued to be a stronghold witnessing 36% YoY growth; Revenue from emerging verticals -Healthcare and Insurance witnessed a growth of 81% and 6% respectively
· Scaling Cloud/ Saas business by increasing penetration and strengthening the platforms to meet all compliance/ regulatory requirements. SaaS revenues witnessed robust growth of 3X to reach Rs 11.35 crores, contributing 2% to revenue from operations (Customer base increased from 8 to 22, over the last one year with large wins in USA)
· Industry Leadership: Positioned as a ‘Leader’ in Dynamic Case Management, Digital Process Automation and Enterprise Content Management by Forrester, a leading Independent Research Firm in its WaveTM Reports. It has also been positioned by Gartner in its Magic Quadrants. During the year, the Company has been named as a “Niche Player” in Magic Quadrant for Content Services Platform and a “Visionary” in Magic Quadrant for Intelligent Business Process Management Suites.
· Delivering growth through constant focus on innovation: Our new offerings include Mobility (Newgen Enterprise Mobility Framework), Virtual Repository Services, Dynamic Case Management, RPA with BPM, Digital Sensing and Flexible Designing and Authoring
· Built high level domain expertise and created robust frameworks for Retail and Corporate lending which are successfully operating across banks and geographies