Quick Heal Technologies Limited reports strong growth in FY21 despite disruptions caused by the pandemic

Quick Heal Technologies Limited (“Quick Heal”), one of the leading providers of cybersecurity and data protection solutions to consumers, businesses and Government, reported its audited results for the quarter and full year ended 31^st March 2021.

Consolidated Financial Highlights:

Dr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “We are delighted to conclude FY21 on a high note. We would like to thank our employees and partners for their relentless efforts and dedication as we continued to deliver the best-in-class security solutions to our customers. Our ongoing investments in building newer capabilities and strengthening of the leadership team, position us well to launch next-generation solutions and build a solid foundation for the enterprise business. However, the new wave of pandemic has once again presented a challenging operating environment with lockdown imposed in multiple states. As vaccination picks up momentum, we are hopeful that the situation will improve in due course of time.”

Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “We have delivered strong financial performance for the quarter and closed the year on a positive note. During the quarter, along with strong top line growth, we managed to significantly improve EBITDA margin due to our constant focus on improving the operational efficiencies. In line with our philosophy of constantly rewarding shareholders, during the last quarter we announced buyback of equity shares which also fits with our robust capital allocation policy and should be EPS accretive. Our balance sheet remains strong with zero debt and cash and cash equivalents of around ₹4,809 mln.”

Segmental Performance for full year ended 31^st March 2021

• Retail segment revenue at ₹2,994 million compared to ₹2,422 in FY20. Retail segment contributed 81.8% to total revenue in FY21
• Enterprise and Government segment revenue at ₹665 million compared to ₹609 mln in FY20. Enterprise segment contributed 18.2% to total revenue in FY21

Key updates:

• Quick Heal Technologies has announced buyback of 63,26,530 equity shares of the company constituting 9.85% of the paid up equity share capital of the Company, for an aggregate amount not exceeding ₹ 1,550 million at ₹245 per equity share.
• The Board of Directors have declared a final dividend of ₹4 per equity share with a face value of ₹10 per share for FY2020-2021 which is subject to shareholders’ approval in ensuing annual general meeting.