IT Consulting & Software company Birlasoft announced Q2FY25 results Financial Highlights: Revenue at Rs 13,682 million, up 4.5% YoY. EBITDA at Rs 1,653 million; EBITDA margin at 12.1%. PAT at Rs 1,275 million translating to basic EPS (not annualized) of Rs4.59. Cash and cash equivalents increase 29.0% YoY to Rs18,587 million. Other Highilights: Growth during Q2FY25 driven by Manufacturing, Energy & Utilities (E&U;) and BFSI among verticals, by Digital & Data and ERP among service lines, and by Americas among geographies. Manufacturing up 4.7%, E&U; up 4.7% and BFSI up 1.4% QoQ while Lifesciences & Services (LSS) registered a sequential decline among verticals. Digital & Data up 6.6% and ERP up 4.3% QoQ while Infra registered a decline QoQ. The number of USD1Mn+ clients increased from 88 to 89, USD 5 million+ clients increased from 23 to 24 and USD 10 million+ clients remained stable QoQ. Revenue from Top 5, Top 10 and Top 20 clients grew YoY by 12.6%, 6.3% and 4.7% respectively. Signed deals of TCV USD 136 million during the quarter with new deal wins TCV of USD 89 million and renewals of USD 47 million. Active Client Count at 261 in Q2FY25 (compared to 258 in Q1FY25 and 278 in Q2FY24). Cash & Cash equivalents of USD 221.8 million by end of Q2FY25 versus USD 229.7 million at end of Q1FY25. In rupee terms, cash and cash equivalents at Rs18,587 M at the end of Q2FY25 versus Rs 19,143 million at the end of the preceding quarter. Q2FY25 DSO at 58 days versus 52 days in Q2FY24. The Board has recommended an interim dividend of Rs 2.50 per share. The record date for this payout will be 31st October 2024. Workforce strength stood at 12,578 as on 30th September 2024 and attrition was 11.8% during Q2FY25 (compared to 11.6% a quarter ago and 15.0% a year ago). During the quarter under review, Birlasoft achieved AWS Competency in Manufacturing and Industrial Consulting. This comes on the back of AWS Migration Consulting Competency attained by the company earlier, reflecting its deep expertise in delivering transformative digital solutions for the manufacturing and industrial sectors. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said: “We are pleased to report a strong rebound in our revenue performance during the quarter under review with broad-based growth across our top accounts, the Manufacturing, BFSI and E&U; verticals, as well as the Digital & Data and ERP service lines. On a sequential basis, our Q2FY25 revenue grew by 2.6% in dollar terms. This was driven by ramp-ups in some projects that were earlier delayed, better account mining and incremental business from consolidation deals where we have gained wallet share. The investmentsthat we have been making to enhance our tech and domain capabilities as well as partnerships, which we believe is key for future growth, have already begun to see some early results reflected in a noticeable increase in the recognitions of our capabilities by leading industry analysts. This positions us well to capitalize upon the opportunities presented by a recovery in the demand environment as and when that happens.” Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our revenue during the quarter under review grew 4.5% year-on-year to Rs 13,682 million. We also maintained our robust track record of strong quarterly collections and consistent cashflow generation, resulting in a 29% rise year-on-year in cash and cash equivalents to Rs 18,587 milllion. Our DSO at 58 days remains healthy, enabling us to make the investments necessary to ensure that we have a differentiated value proposition in the marketplace. We expect margins to expand as these investments begin to pay-off," Result PDF
Conference Call with Birlasoft Management and Analysts on Q1FY25 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software company Birlasoft announced Q1FY25 results: Revenue at Rs 13,274 million, up 5.1% YoY EBITDA at Rs 1,951 million; EBITDA margin at 14.7% PAT at Rs 1,502 million, up 9.2% YoY translating to basic EPS (not annualized) of Rs 5.41 Cash and cash equivalents increase 45.9% YoY to Rs 19,143 million Angan Guha, Chief Executive Officer and Managing Director, Birlasoft, said, “Our performance during the quarter under review reflects a challenging operating environment and tightened discretionary spends by customers. In that backdrop, I am pleased to note that our Infra and ROW businesses, both historically smaller contributors to our revenue, have done particularly well on the back of our efforts to enhance our capabilities and footprint there. Our deal wins during the quarter are also up 10% year on year at $160 million. We continue to invest in our business across our verticals and service lines to strengthen our position as a domain and emerging tech capabilities-led player.” Kamini Shah, Chief Financial Officer, Birlasoft, said: "Our revenue during the quarter under review grew 5.1% year on year to Rs 13,274 million. PAT for the quarter grew 9.2% year on year to Rs 1,502 million. Our quarterly collections continued to be strong, resulting in a 46% rise year on year in cash and cash equivalents to Rs 19,143 million. Our DSO improved sequentially to 52 days and on this key parameter we continue to be among the best in the industry. We have started the new financial year with a robust balance sheet and healthy cashflows that enable us to keep investing in capabilities for future growth even as we navigate through the current challenges in the macro-economic environment," Result PDF