Coforge Limited (NSE: COFORGE), a leading global IT solutions organization, announced its financial results for the quarter ended March 31, 2022 (Q4 FY’22) and full financial year FY’22. The Company reported strong performance exceeding its full year revenue growth guidance and expanding profitability.
FY’22 – Financial Highlights
- Reported revenue of 5 million in USD terms and 64,320 million in INR terms
- 0% YoY growth in USD, 37.9% in INR and 37.6% in cc terms
- Adjusted EBITDA margin of 9% in cc terms
- PAT for the year increased 2% in INR terms
Q4 FY’22 – Financial Highlights
- Revenue for the quarter was 4 million in USD terms and 17,429 million in INR terms
- Up 2% in INR terms and 35.0% in USD terms YoY
- Up 1% in INR, 4.9% in USD and 5.0% in cc terms QoQ
- Adjusted EBITDA margin for the quarter expanded to 6% in cc and 20.4% in reported terms
- PAT for the quarter increased 2% YoY in INR terms
Q4 FY’22 – Business Highlights
- Total order book executable over the next 12 months stands at $720 million
- Order intake was $301 million while 12 new client logos were added during the quarter
- Attrition at 7% continues to be amongst the lowest in the industry
- Coforge earned the Global Elite distinction in the new Pega Partners Program
- Coforge Salesforce Business Unit won the ‘JAPAC – Breakthrough Partner of the Year’ award from MuleSoft
“FY’22 was a landmark year for the firm and the performance data speaks for itself. Revenue grew 38%, EBITDA grew 42% and PAT grew 45%. The firm is now focused on carving an accelerated growth path to the $2 billion revenue milestone.” said Sudhir Singh, Chief Executive Officer, Coforge Ltd.
For the fiscal year FY’23, the firm issued an annual revenue growth guidance of around 20% and is targeting an adjusted EBITDA margin of 18.5% to 19.0% in constant currency terms. The Board has recommended an interim dividend of INR 13 per share, and the record date for this payout will be 24th May 2022.