SASKEN TECHNOLOGIES LIMITED Bangalore, 23 April 2015: Sasken Communication Technologies Limited (BSE: 532663, NSE: SASKEN) today announced its consolidated results according to Indian GAAP for the fourth quarter and financial year ended March 31, 2015.
Speaking on the results Mr. Rajiv C Mody, Chairman, Managing Director and CEO said: We are endeavoring to scale business opportunities arising out of the cusp of embedded and IT Systems. Our early inroads in winning business in this area are a validation of our strategic focus and market potential. In the IoT space, we are building proof of concepts that enables the delivery of next generation services in the insurance and retail verticals. Our traditional business in embedded systems and testing remain promising and the challenges arising out of constant churn remain. We are embracing agile practices to retain and build on our competitive edge to serve the marquee customers we have in the communication and devices space.
Your Company takes pride in continuing its track record of paying dividends to its shareholders. This year we are pleased to announce a final dividend of Rs.4.50 per equity share subject to approval of shareholders. This is in addition to the dividend of Rs.22.50 per share paid earlier during the year.
Performance Snapshot for the Quarter: Q4 FY 15
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Consolidated Revenues for Q4 FY 15 at Rs. 104.37 Crore
- Down 2.7 % over the previous quarter
- Down 10.3 % YoY from Q4 FY 14
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Consolidated EBIDTA for Q4 FY 15 at Rs. 4.33 Crore
- Down 31.5 % sequentially over the previous quarter
- Down 63.2 % YoY from Q4 FY 14
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Consolidated PAT for Q4 FY 15 at Rs. 2.93 Crore
- Down 81.9 % sequentially over the previous quarter
- Down 67.7 % YoY from Q4 FY 14
- PAT Margins for the quarter at 2.8 %
Performance Snapshot for the Financial Year 2015
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Consolidated Revenues for FY 15 at Rs. 428.01 Crore
- Down 6.6 % YoY from FY 14
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Consolidated EBIDTA for FY 15 at Rs. 32.25 Crore
- Down 39.6 % from FY 14
- Consolidated EBIDTA Margins at 7.5 %
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Consolidated PAT for FY 15 at Rs. 119.56 Crore
- UP 132.3 % from FY 14
- PAT Margins are 27.9% for the year
Key Business metrics for the Quarter: Q4 FY 15
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Software services revenues for Q4 FY 15 at Rs. 100.69 Crore
- Down 3.2 % sequentially over the previous quarter
- Down 9.3 % YoY from Q4 FY 14
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Products group revenues for Q4 FY 15 at Rs.3.06 Crore
- Up 6.1 % sequentially over the previous quarter
- Down 35.5 % YoY from Q4 FY 14
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Consolidated EBIDTA margins were at 4.1 %.
- Services EBIDTA margins were at 7.0 %
- Products EBIDTA margins were at -43.3 %
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Revenue contribution from
- the Top five customers stood at 50.6 % and
- from Top 10 customers at 67.2 %
- For the quarter, Consolidated EPS before exceptional items was at `.3.10 and after exceptional items was at Rs.1.37
Key Business metrics for Financial Year 2015
- Software services revenues for FY 15 at Rs. 413.94 Crore
- Products group revenues for FY 15 at Rs.11.88 Crore
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Consolidated EBIDTA margins were at 7.5 %.
- Services EBIDTA margins were at 8.5 %
- Products EBIDTA margins were at -8.8 %
- For the year, Consolidated EPS before exceptional items was at `.15.05 and after exceptional items was at Rs.56.11
- For details on exceptional items, kindly refer notes to Clause 41 financials
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 global leader in providing embedded R&D services, comprehensive testing services, IT infrastructure services and application development & data services to device OEMs, network OEMs, semiconductor vendors, operators and retail & insurance enterprises across the world. Global Fortune 500 and Tier 1 companies in these segments are part of Sasken's customer profile.
Sasken's solutions are backed by ISO 9001:2000, ISO 27001 and TL 9000 certifications. Sasken's proprietary quality management systems strengthen our business offerings and ensure client satisfaction. Sasken's commitment toenvironment is highlighted by its ISO 14001 certification.
For further information please visit www.sasken.com
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.
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Company Contact: Swami Krishnan VP & Head Marketing E: pr@sasken.com T: +91 9743979264 |
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