Sasken Q4 FY18-19 result announced

Press Releases

Sasken Q4 FY18-19 result announced

Bengaluru, April 23, 2019;Sasken Technologies Limited (formerly Sasken Communication Technologies Limited) (BSE: 532663, NSE: SASKEN) today announced its consolidated results as per Ind AS for the quarter and year ended March 31, 2019.

Rajiv C Mody, Chairman, Managing Director & CEO, Sasken Technologies Limited remarked: We have been able to resolve the overruns in our fixed price program which we had flagged in the previous quarter. Our customer has compensated us for the additional work executed and continues to value us as a strategic partner. The positive upshot is after factoring this one time impact we have posted an organic revenue growth of 4% this quarter. As part of our business transformation journey, we remain focused on growing our strategic accounts. We have new business wins emanating from marquee customers and will endeavour to scale them.

Performance Snapshot for the Quarter: Q4 FY 19

  • Consolidated Revenues for Q4 FY 19 at ₹ 135.54 Crore
    • Up 11.6 % sequentially over the previous quarter
    • Up 5.3 % YoY from Q4 FY 18
  • Consolidated EBIDTA for Q4 FY 19 at ₹ 24.44 Crore
    • Up 93.2 % sequentially over the previous quarter
    • Up 13.6 % YoY from Q4 FY 18
  • Consolidated PAT for Q4 FY 19 at ₹ 27.45 Crore
    • Up 51.9 % sequentially over the previous quarter
    • Up 5.7 % YoY from Q4 FY 18
    • PAT Margins for the quarter at 20.3 %

Performance Snapshot for the Financial Year 2019

  • Consolidated Revenues for FY 19 at ₹ 504.31 Crore
    • Up 0.3 % from FY 18
  • Consolidated EBIDTA for FY 19 at ₹ 71.13 Crore
    • Up 2.4 % from FY 18
  • Consolidated PAT for FY 19 at ₹ 90.42 Crore
    • Up 9.7 % from FY 18
    • PAT Margins for the year at 17.9 %

Key Business metrics for the Quarter: Q4 FY 19

  • Software services revenues for Q4 FY 19 at ₹ 135.54 Crore
    • Up 11.6 % sequentially over the previous quarter
    • Up 5.3 % YoY from Q4 FY 18
  • Consolidated EBIDTA margins were at 18.0 %.
  • Revenue contribution from
    • The Top five customers stood at 56.3 % and
    • From Top 10 customers at 70.1 %
  • Consolidated EPS was at ₹ 16.11 for the quarter
  • Added 6 new customers during the quarter taking the total number of active customers to 94

Key Business metrics for the Financial Year 2019

  • Software services revenues for FY 19 at ₹ 504.31 Crore
    • Up 0.3 % from FY 18
  • Consolidated EBIDTA margins were at 14.1 %.
  • Consolidated EPS was at ₹ 52.92 for the year

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

About Sasken
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 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.

Spokesperson:
Swami Krishnan
VP Corporate Communication & EE
E: pr@sasken.com
T: +91 9743979264