Sasken Q2 FY21-22 result announced
There is a glimmer of hope that the COVID-19 pandemic is in some sense dissipating. We are making progress on our transformation journey and have strengthened our sales and delivery at the operational and leadership levels. Our focus remains on winning long-term, scalable business contracts from both existing and new customers. This quarter we have added two global leaders as part of our enviable list of customers. Our entry into the Electric Vehicle segment is exciting and we will do our best to nurture and scale this. Notwithstanding this we remain vigilant and prepared to handle any exigency as a matter of prudence, said Rajiv C Mody, Chairman, Managing Director, and CEO of Sasken.
Performance Snapshot for the H1 FY 22
- Consolidated Revenue for H1 FY 22 at ₹ 218.45 Crore
- Down 0.9% YoY from H1 FY 21
- Consolidated EBIT for H1 FY 22 at ₹ 63.35 Crore
- Up 17.7% YoY from H1 FY 21
- Consolidated PAT for H1 FY 22 at ₹ 71.29 Crore
- Up 38.3% YoY from H1 FY 21
- PAT Margins for H1 at 32.7%
Performance Snapshot for the Quarter: Q2 FY22
- Consolidated Revenue for Q2 FY 22 at ₹ 108.65 Crore
- Down 1.1% sequentially over the previous quarter
- Up 1.3% YoY from Q2 FY 21
- Consolidated EBIT for Q2 FY 22 at ₹ 32.64 Crore
- Up 6.3 % sequentially over the previous quarter
- Up 34.3% YoY from Q2 FY 21
- EBIT Margins for the quarter at 30.1%
- Consolidated PAT for Q2 FY 22 at ₹ 37.29 Crore
- Up 9..7% sequentially over the previous quarter
- Up 60.2% YoY from Q2 FY 21
- PAT Margins for the quarter at 34.4%
Key business metrics
- Revenue contribution from the Top 5 customers stood at 48.0 % and from the Top 10 customers at 69.0 %
- Added 7 new customers during the quarter, taking the total number of active customers to 66.
- Consolidated EPS was at ₹ 24.80 for the quarter.
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, Consumer Electronics, Enterprise Devices, SatCom, Telecom, and Transportation industries. For over 30 years and with multiple patents, Sasken has transformed the businesses of 100+ Fortune 500 companies, powering more than a billion devices through its services and IP.
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.