Sasken Q4 FY20-21 result announced
Fiscal 2021 has been a challenging year for the industry. Our primary focus has been to maintain business continuity and safeguard the interests all our stakeholders. We are beginning to see a return in customer confidence across the verticals we serve. We are focused on strengthening our front-line teams, deepening our solutions and service lines to win long term, scalable business contracts from our enviable list of customers. The unexpected exponential surge in Covid-19 due to the second wave may result in short term business uncertainties. While technology remains the panacea to help industries adapt and deliver newer revenue generating services in the post pandemic era, we remain cautious and monitor the situation closely said Rajiv C Mody, Chairman, Managing Director and CEO of Sasken.
Performance Snapshot for the Quarter: Q4 FY 21
- Consolidated Revenues for Q4 FY 21 at ₹110.61 Crore
- Down 2.9 % sequentially over the previous quarter
- Down 2.0 % YoY from Q4 FY 20
- Consolidated EBIT for Q4 FY 21 at ₹33.84 Crore
- Up 3.5 % sequentially over the previous quarter
- Up 77.5 % YoY from Q4 FY 20
- EBIT Margins for the quarter at 30.6 %
- Consolidated PAT for Q4 FY 21 at ₹29.09 Crore
- Down 14.2 % sequentially over the previous quarter
- Up 207.8 % YoY from Q4 FY 20
- PAT Margins for the quarter at 26.3 %
Performance Snapshot for the FY 21
- Consolidated Revenues for FY 21 at ₹444.83 Crore
- Down 9.6 % YoY from FY 20
- Consolidated EBIT for FY 21 at ₹120.34 Crore
- Up 56.4 % YoY from FY 20
- EBIT Margins for the at 27.0 %
- Consolidated PAT for FY 21 at ₹114.54 Crore
- Up 45.3 % YoY from FY 20
- PAT Margins for the year 25.7 %
Key business metrics
- Revenue contribution from the Top 5 customers stood at 40.9 % and from the Top 10 customers at 65.2 %
- Added 3 new customers during the quarter, taking the total number of active customers to 72.
- Consolidated EPS was at ₹ 19.37 for the quarter and at ₹ 76.26 for the full fiscal.
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.