Sasken Q4 FY15-16 result announced

Bangalore, 22 April 2016: Sasken Communication Technologies Limited (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the quarter and year ended March 31, 2016.

'The performance on an annualized basis is encouraging and we have been able to post a smart growth in our services business. We believe this is a result of our sharp focus to expand our business to market adjacencies that leverages our expertise in product engineering. In addition, we continue to address opportunities in the physical to digital space and are encouraged by the market traction we are seeing.' Rajiv Mody, Chairman, Managing Director and CEO, Sasken Communication Technologies said.

'We expect the growth trajectory to continue in the coming fiscal and we will be enhancing our offering portfolio to achieve this. In addition, we will continue to relentless manage costs and work to improve our operating margins' added Mr. Mody.

Performance Snapshot for the Quarter: Q4 FY 16

  • Consolidated Revenues for Q4 FY 16 at Rs 119.82 Crore
    • Down 5.1 % over the previous quarter
    • Up 14.8 % YoY from Q4 FY 15
  • Consolidated EBIDTA for Q4 FY 16 at Rs 9.53 Crore
    • Down 36.4 % sequentially over the previous quarter
    • Up 120.4 % YoY from Q4 FY 15
  • Consolidated PAT for Q4 FY 16 at Rs 174.64 Crore
    • Up 1451.8 % sequentially over the previous quarter
    • Up 5866.4 % YoY from Q4 FY 15
    • PAT Margins for the quarter at 145.7 %

Performance Snapshot for the Financial Year 2016

  • Consolidated Revenues for FY 16 at Rs. 483.17 Crore
  • Consolidated EBIDTA for FY 16 at Rs. 47.17 Crore
    • Up 46.3 % from FY 15
    • Consolidated EBIDTA Margins at 9.8 %
  • Consolidated PAT for FY 16 at Rs. 206.29 Crore
    • UP 72.5 % from FY 15
    • PAT Margins are 42.7% for the year

Key Business metrics for the Quarter: Q4 FY 16

  • Software services revenues for Q4 FY 16 at Rs 115.79 Crore
    • Down 3.7 % sequentially over the previous quarter
    • Up 15.0 % YoY from Q4 FY 15
  • Products group revenues for Q4 FY 16 at Rs 3.18 Crore
    • Down 39.8 % sequentially over the previous quarter
    • Up 4.0 % YoY from Q4 FY 15
  • Consolidated EBIDTA margins were at 8.0 %.
    • Services EBIDTA margins were at 10.8 %
    • Products EBIDTA margins were at (86.7) %
  • Revenue contribution from
    • the Top five customers stood at 47.3 % and
    • from Top 10 customers at 2 %
  • Consolidated EPS was Rs20 for the quarter before exceptional items, and Rs.98.55 for the quarter including the exceptional items.
  • Added 12 new customers during the quarter taking the total number of active customers to 134

Key Business metrics for the Financial Year 2016

  • Software services revenues for FY 16 at Rs 460.06 Crore
    • Up 11.1 % YoY from Q4 FY 15
  • Products group revenues for FY 16 at Rs 20.07 Crore
    • Up 69.1 % YoY from Q4 FY 15
  • Consolidated EBIDTA margins were at 9.8 %.
    • Services EBIDTA margins were at 10.8 %
    • Products EBIDTA margins were at (12.5) %
  • For the year, Consolidated EPS before exceptional items was at Rs.18.46 and Rs.107.14 including the exceptional items.

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 leader in providing Engineering R&D and Productized IT services to global tier 1 customers in the Communications & Devices, Retail, Insurance and Independent Software space. Sasken's deep domain knowledge and comprehensive suite of services have helped global leaders in verticals such as Semiconductors, Consumer Electronics, Smart Devices, Automotive Electronics, Enterprises and Network Equipment maintain market leadership. In the Retail, Insurance and Independent Software Vendor verticals, Sasken enables customers to rapidly re-architect their suite of IT Application and Infrastructure.

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.

Media Contact:
Swami Krishnan
E: investor@sasken.com
T: +91 80 6694 3000

Sasken Communication Technologies Limited issued this content on 22 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 26 April 2016 05:38:22 UTC

Original Document: http://newsroom.sasken.com/?p=3516