Tanla Solutions Limited announces Fourth Quarter and FY20 Financials

Financial results presented are for full quarter and annual results for Tanla Solutions Limited ("Tanla") and full quarter and from April 10, 2019 to March 31, 2020 for Karix Mobile Private Limited ("Karix) and its wholly owned subsidiary Unicel Technologies Private Limited (Unicel) and from November 01, 2019 to March 31, 2020 for Gamooga Softtech Private Limited.

Revenues

- FY20 revenues at Rs. 1942.8 Cr, up 94% Y-o-Y from Rs. 1004.0 Cr in FY19
- Q4FY20 revenues at Rs. 522.1 Cr, up 64% Y-o-Y from Rs. 317.9 Cr in Q4FY19 and down 3% Q-o-Q from Rs. 539.0 Cr in Q3FY20

Gross Margin

- FY20 Gross margin at Rs. 391.1 Cr, up 173% Y-o-Y from Rs. 143.3 Cr in FY19
- Q4FY20 Gross margin at Rs. 112.0 Cr, up 145% Y-o-Y from Rs. 45.8 Cr in Q4FY19 and up 8% Q-o-Q from Rs. 103.9 Cr in Q3FY20

One-off expenses for FY20*

- Employee stock options (ESOP & ESPS) cost of Rs. 41.1 Cr
- Acquisition related cost of Rs. 7.9 Cr
- Mobile World Congress (MWC) related cost of Rs. 2.6 Cr
- Provision for loss of investment in liquid funds of Rs. 3.7 Cr

EBITDA

- FY20* EBITDA at Rs. 240.4 Cr, up 148% Y-o-Y from Rs. 96.7 Cr in FY19
- Q4FY20# EBITDA at Rs. 64.9 Cr, up 129% Y-o-Y from Rs. 28.3 Cr in Q4FY19 and up 2% Q-o-Q from Rs. 63.7 Cr in Q3FY20
*Not adjusted for One Time Cost of Rs. 55.3 Cr
#Not adjusted for One Time Cost of Rs. 6.3 Cr

Provision for Doubtful Debts:

Provision for Doubtful Debts of Rs. 15.57 Cr in Karix Mobile Private Limited, Rs. .05 Cr in Tanla Solutions Limited, Rs. 2.99 Cr in Tanla Mobie Asia Pacific Pte Ltd and Rs. 0.03 Cr in Tanla Corporation Private Limited aggregating to Rs. 19.63 Cr on a consolidated basis for FY 20 has been charged to Profit and Loss account after assessing the possibility of realisation of long-outstanding debtors on March 31, 2020.

Shares of TANLA SOLUTIONS LTD. was last trading in BSE at Rs.67.4 as compared to the previous close of Rs. 67.95. The total number of shares traded during the day was 21254 in over 195 trades.

The stock hit an intraday high of Rs. 69.1 and intraday low of 66.65. The net turnover during the day was Rs. 1444292.

Source : Equity Bulls

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