Birlasoft FY 21 Revenue up 8%, PAT up 43% YoY

Birlasoft [BSE: 532400, NSE: BSOFT], a part of the USD 2.4 billion diversified CK Birla Group, reported its audited consolidated financial results for the fourth quarter and year ended March 31, 2021.

Dharmender Kapoor, Managing Director and Chief Executive Officer, Birlasoft, said, “Despite heightened uncertainties during this pandemic year, we have exited FY21 with several key milestones, namely, revenue growth of 8% in rupee terms, a profit growth of 43%, EBITDA margins of ~15%, record deal wins of $ 888 M, healthy cash generation and top-customer led growth. The all-round improvement on all operating metrics is very reassuring and sets the foundation for continued momentum into FY22. With due focus on a robust customer centric strategy to win more transformational, multi-services and long-term deals, combined with operational rigor, we are confident of accelerated growth in FY22 and beyond.”

Other highlights

• The Board recommends a final dividend of ₹ 2.50/- per share (Face Value ₹ 2/-)
  • Total dividend for FY 20-21 at ₹ 3.50/- per share.
  • Dividend pay-out ratio of 30.2% for FY 21
• Signed deals of TCV $ 888 M during the year
  • TCV new deal wins of $ 429 M and renewals of $ 459 M for FY21
• Active Client Count at 291 in Q4 FY21
  • > $ 5 M customers at 22 versus 17 in Q4 FY20
  • Revenue for Top 5, Top 10 & Top 20 clients grew by 21.1%, 19.8% and 19.2% respectively in FY21
• Cash & Cash equivalents of $ 153.1 M versus $ 88.4 M in FY 20; up $ 64.7 M YoY & $ 14.7 M QoQ
  • In ₹ terms, cash and cash equivalents at ₹ 11,189 M vs ₹ 6,662 M; up ₹ 4,527 M YoY
• DSO at 56 days, improved by 16 days YoY
• Manpower strength of 11,051 as at 31^st March 2021 versus 10,268 a year ago
  • Net addition of 783 professionals during the financial year and 652 during the quarter

Deal wins for the quarter – includes 4 deals > $ 10+ M, 3 deals > $ 5+ M

• Chosen by a leading Global Business Process Services Company to integrate and modernize its mobility platform helping it to enhance customer experience and optimize costs
• Won a multi-year deal with a US auto major for enterprise delivery model transformation.
• Selected by a Global Healthcare major for providing Data and Analytics services
• Chosen by a leading US based technology services provider to global energy for providing NextGen Digital services.
• A global healthcare major as part of its application modernization program has chosen Birlasoft for JD Edwards implementation, upgrade and integration of Global ERP across multi country locations
• Selected by a US Industrial Equipment major for its Oracle associated application management support services.
• Chosen by a leading global media and entertainment company to streamline and digitalize its business process and eliminate inefficiencies with an optimal structure.
• Selected by a Global Solution major for implementation of cloud setup involving migration of SAP and applications from on-premise to Azure.

Awards and Recognition – for FY 21

• Won the Aegis Graham Bell Award (AGBA) for Birlasoft’s intelliOpen™ solution. IntelliOpen™ is an integrated digital solution using IoT, Analytics, AI, and wearables to strengthen return-to-work strategies, and support companies to restart and operate businesses with confidence.
• Birlasoft named one of the Booming 15 (Global Market) in the 4Q20 Global ISG Index™. This is the fourth time in a row that Birlasoft has been featured across categories by ISG.
• Birlasoft was recognized as India’s Most Admired & Valuable Power Brand Company for the year 2020, at the India Leadership Conclave & Awards 2020.
• Birlasoft received SABERA 2020 Award for its community-benefiting Initiative – Project Shodhan. Project Shodhan was set up in 2017 with the aim of achieving zero crop residue burning in the villages of Indian states of Punjab, Haryana, Uttar Pradesh, and Rajasthan. In four years, the initiative has covered 61 villages and 53,000 acres of agricultural land in these “wheat bowl states”. This is the third time in a row that Project Shodhan has been acknowledged and appreciated by the SABERA jury members.