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Hinduja Global Solutions announces Q1FY2019 results

Posted On: 2018-08-10 12:18:49

Hinduja Global Solutions (HGS) (listed in BSE & NSE) today announced its unaudited First Quarter results for FY2019.

Speaking on the results, Partha DeSarkar, CEO of HGS said: "HGS continued its business momentum in the first quarter of FY2019. For the second quarter in a row, overall revenues crossed the Rs. 10,000 million mark to register Rs. 11,008 million, an increase of 18.7 % YoY. Of this, 5% was organic, 4.7% from forex gains and the rest 9% came from the acquisitions of AxisPoint Health and Element Solutions.

During the quarter, we signed nine new logos, expanded our relationships with eight existing clients and won five DigiCX deals, reflecting how our offerings are resonating with the evolving needs of clients. Looking at the sales pipeline, we see big opportunities for our technology-led services including DigiCX, analytics, cloud services, RPA and machine learning, and continue to invest in strengthening our capabilities. The healthcare vertical posted strong growth and accounted for over 50% of the revenues for the third quarter in a row. The two recent acquisitions helped increase share of healthcare vertical revenues from 51% to 54%.

From a margin perspective, the performance of legacy business was as per our expectations. EBITDA margins stood at 9.5%, excluding the acquired businesses. While most of our businesses showed good growth, the India CRM business continues to see twin pressures of drop in volumes from telecom clients and increase in minimum wages.

Element Solutions has done well and we expect this business to play a key role in driving our digital offerings in the social media and cloud segments. AxisPoint Health's performance was below expectations, with costs higher than anticipated. We have initiated the necessary cost management measures and these are expected to be in place in Q3."

Financial Highlights for Q1 FY2019

- HGS reported a YoY revenue growth of 18.7%% at Rs. 11,008 million
- Organic revenue growth in constant currency terms was 5%
- EBITDA, excluding the acquired businesses, was Rs. 971.1 million; EBITDA margins stood at 9.55%
- Overall EBIDTA, including the Element and Axis Point acquired businesses, was Rs. 731.5 million and EBITDA margin was 6.6%
- PAT was Rs. 403.0 million, a YoY drop of 9.1%; Net margins stood at 3.7%
- Capital expenditure for the quarter was Rs. 393 million
- Generated 22% of the YTD FY2019 EBITDA into Free Cash
- Reduction in net debt of Rs. 6 million in Q1 FY2019; Gross Debt as at 30th June 2018 stood at Rs 5,848 million
- Interim Dividend of Rs 2.50 /share

Shares of HINDUJA GLOBAL SOLUTIONS LTD. was last trading in BSE at Rs.840 as compared to the previous close of Rs. 844.65. The total number of shares traded during the day was 670 in over 106 trades.

The stock hit an intraday high of Rs. 855 and intraday low of 838.2. The net turnover during the day was Rs. 568915.


Source: Equity Bulls

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