Conference Call with AGS Transact Technologies Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Internet Software & Services firm AGS Transact Technologies announced Q1FY23 Result : Q1FY23 EBITDA grew by more than 35% on YoY basis The company’s finance cost declined by 40% in Q1FY23 to Rs. 352 mn due to redemption of NCDs post IPO of the company Total income stood at Rs. 4,272 mn for Q1FY23 Adjusted EBITDA stood at Rs. 1,269 mn for Q1FY23; Adjusted EBITDA margin for Q1FY23 stood at 29.7% PAT stood at Rs. 192 mn for Q1FY23 During the quarter, Revenue from Services accounted for 96% of our Revenue from Operations comprising Payment Solutions (Cash and Digital) – 80% and AMC Services and upgrades – 16% Segment mix: Payment Solutions – 80% (Cash – 65% and Digital – 15%), Banking Automation Solutions – 12% and Other Automation Solutions – 8% In Q1FY23, while the total income increased marginally by 3% on YoY basis In Q1FY23, EBITDA witnessed a 35% YoY increase primarily on account of higher contribution and margins in the standalone, SVIL and ITSL businesses During Q1FY23, the company’s finance cost declined by 40% to Rs. 352 mn due to redemption of NCDs post the IPO of the company The company’s Consolidated net debt stood at Rs. 6,457 mn as on June 30, 2022 The company reported a PAT of Rs. 192 mn in Q1FY23 against the loss of Rs 288 mn for Q1FY22 Commenting on the performance Mr. Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Limited said, “I am delighted to share that we have begun the year on a positive note with Q1FY23 EBITDA growing at more than 35% on YoY basis, and PAT stood at Rs. 192 mn. For Q1FY23, total income stood at Rs. 4,272 million as against Rs. 4,136 million for Q1FY22. Overall, the business continues to be on a growth trajectory as reflected in our operating business performance in the quarter, which would substantiate our overall FY23 performance. Our endeavor is to deliver higher profitability in FY23 as compared to FY22. Our focus is on creating one of the largest integrated omni-channel payment platforms in the country by providing innovative digital and cash payment solutions to our clients across sectors. We will continue to leverage our digital payment platform Ongo to provide paymentas-a-convenience to corporates, merchants and consumers, through our comprehensive portfolio mix which includes all-in-one POS and Value-added Services (VAS) like prepaid or loyalty programs etc.. We are very optimistic about ATM outsourcing market owing to a healthy pipeline of fresh RFPs from leading public and private sector banks. RBI’s recent initiatives such as the Interoperable Cardless Cash Withdrawal (ICCW) on ATMs via UPI and setting up 75 digital banking units in 75 districts of the country by scheduled commercial banks, offers a vast opportunity to AGSTTL to expand our existing business. Our longstanding relationship with our customers across industries puts us in an advantageous position for our new business and cross selling opportunities and enhances our market reputation. We will continue to leverage our key strengths/tech-capabilities to innovate and offer customized payment solutions across value chain, further contributing towards strengthening of the overall payment infrastructure in the country.” Result PDF