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Sasken Q4 FY16-17 result announced
Sasken Q4 FY16-17 result announced
Bangalore, 19 April 2017: Sasken Technologies Limited (formerly Sasken Communication Technologies Limited) (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the quarter and year ended March 31, 2017.
Speaking on the occasion, Rajiv C Mody, Chairman, Managing Director & CEO, Sasken Technologies Limited said: In this fiscal, growth has been a challenge but we remain confident as we operate in business segments that offer robust growth prospects. Our unique position as a ‘chip to cognitive’ company augurs well for us and we see opportunities arising out our ability to offer services combining our strengths in product engineering and digital transformation. This will set us on a sustainable growth trajectory in the coming year.
Performance Snapshot for the Quarter: Q4 FY 17
- Consolidated Revenues for Q4 FY 17 at ₹117.66 Crore
- Up 5.9 % sequentially over the previous quarter
- Down 1.8 % YoY from Q4 FY 16
- Consolidated EBIDTA for Q4 FY 17 at ₹ 11.76 Crore
- Up 169.0 % sequentially over the previous quarter
- Up 23.4 % YoY from Q4 FY 16
- Consolidated PAT for Q4 FY 17 at ₹ 35.57 Crore
- Up 175.2 % sequentially over the previous quarter
- Down 79.6 % YoY from Q4 FY 16
- PAT Margins for the quarter at 30.2 %
Performance Snapshot for the Financial Year 2017
- Consolidated Revenues for FY 17 at ₹468.94 Crore
- Down 2.9 % YoY from FY 16
- Consolidated EBIDTA for FY 17 at ₹43.15 Crore
- Down 8.5 % from FY 16
- Consolidated EBIDTA Margins at 9.2 %
- Consolidated PAT for FY 17 at ₹73.69 Crore
- Down 64.3 % from FY 16
- PAT Margins are 15.7% for the year
Key Business metrics for the Quarter: Q4 FY 17
- Software services revenues for Q4 FY 17 at ₹ 114.17 Crore
- Up 5.8 % sequentially over the previous quarter
- Down 1.4 % YoY from Q4 FY 16
- Products group revenues for Q4 FY 17 at ₹3.49 Crore
- Up 23.9 % sequentially over the previous quarter
- Up 9.7 % YoY from Q4 FY 16
- Consolidated EBIDTA margins were at 10.0 %.
- Services EBIDTA margins were at 8.5 %
- Products EBIDTA margins were at 60.0 %
- Revenue contribution from
- the Top five customers stood at 44.1 % and
- from Top 10 customers at 63.1 %
- Consolidated EPS was at ₹ 20.75 for the quarter
- Added 8 new customers during the quarter taking the total number of active customers to 133
Key Business metrics for the Financial Year 2017
- Software services revenues for FY 17 at ₹454.27 Crore
- Down 1.3 % YoY from FY 16
- Products group revenues for FY 17 at ₹13.00 Crore
- Down 35.2 % YoY from FY 16
- Consolidated EBIDTA margins were at 9.2 %.
- Services EBIDTA margins were at 8.2 %
- Products EBIDTA margins were at 50.1%
- For the year, Consolidated EPS before exceptional items was at Rs.34.15 and Rs.41.92 including the exceptional items.
A fact sheet providing the operating metrics for the company and a presentation for analysts can be downloaded from the investor section of the corporate website www.sasken.com
Sasken is a specialist in Product Engineering and Digital Transformation providing concept-to-market, chip-to-cognition R&D services to global leaders in Semiconductor, Automotive, Industrials, Smart Devices & Wearables, Enterprise Grade Devices, Satcom, and Retail industries. With over 27 years in Product Engineering and Digital Transformation and 70 patents, Sasken has transformed the businesses of over a 100 Fortune 500 companies, powering over a billion devices through its services and IP.
Sasken’s solutions are backed by CMMI-DEV-V1.3-ML3, ISO 9001 (QMS) and ISO/IEC 27001 (ISMS) certifications. Sasken’s proprietary quality management system strengthen its business offerings and ensure client satisfaction. Sasken’s commitment to environment, health and safety is backed by its ISO 14001 (EMS) certification.
For further information please visit www.sasken.com
Disclaimer on Forward Looking Statements:
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the Indian IT services industry, including with respect to tax incentives and export benefits, adverse changes in foreign laws, including those relating to outsourcing and immigration, increasing competition in and the conditions of the Indian and global IT services industry, the prices we are able to obtain for our services, wage levels in India for IT professionals, the loss of significant customers the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in India and globally, changes in domestic and foreign laws, regulations and taxes and changes in competition in the information technology/ telecommunication industries. Additional risks that could affect our future operating results are more fully described in our Red herring filing. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.