EBITDA, up 46% YoY, Signs TCV of $
180 M in Q1
Birlasoft [BSE: 532400, NSE: BSOFT], a part of the USD 2.4 billion diversified CK Birla Group, reported its unaudited consolidated financial results for the first quarter ended June 30, 2020.
Dharmender Kapoor, Managing Director and Chief
Executive Officer, Birlasoft, said, “Our Q1 results were better than
what we had expected at the beginning of this pandemic quarter. Our healthy
deal wins of $ 179.7 M and good pipeline across verticals and horizontals,
coupled with strong cash collections is a testimony to the trust shown in us.
With the key objectives of ensuring our employees safety and partnering with
our customers to stabilize their business and get them up to speed, we were
quick in launching a few Digitalized Covid-19 solutions, like intelliOpenTM for
employee health and safety, and Supplier Risk Radar, an Analytics solution to
predict financial health of suppliers, to address our customer needs. Our focus
will remain to work closely with our customers and partners and aid them in
their initiatives to accelerate their success in the post-pandemic world.”
Key
Financial highlights for Q1 FY21
Other
Highlights
· Signed TCV deals of $ 179.7 M during the quarter
· Active Client Count at 356
· $ 10 M customer at 8; up by 1 during Q1
· Cash & Equivalents up from US$ 88.4 M in Q4 to
US$ 108.8 M (INR 822 Cr); up US$ 20.4 M
· DSO at 60 days, down by 12 days QoQ
· Manpower strength of 9,908 as at 30th June 2020
versus 10,268 in Q4
· Attrition down from 21.7% in Q1 FY20 to 16.5% in Q1
FY21; down 520 bps YoY
Deal
Wins for the Quarter
· Selected
by a global building material & solutions major to provide remote
Infrastructure and Global Datacenter Managed Services.
· Chosen
as a sole offshore vendor, by one of the leading third-party providers and
retailers of wireless products for application management and development work
around ERP technologies, Magento and for building a Testing Center of
Excellence (CoE)
· Selected as a partner by a
leading
·
· Selected
by a leading
· Awarded
by a leading Energy Storage Major for its Application Managed Services and support of J D Edwards applications.
· Selected
by a US Lifesciences major for migration of its data lake and Analytics
applications to SAP
· Selected
by an Asian Cement major to provide remote Infrastructure and helpdesk support.
· Birlasoft has been chosen by a leading US Media and
Entertainment company in enhancing its customer experience through
implementation of Salesforce.com
Awards and Recognition
· Birlasoft was named a
Top 15 Sourcing Standout by Information Services Group (ISG), a leading
global technology research and advisory firm. It was among the leading
providers in the Booming 15 category for the
· Birlasoft
Partners with Innoveo, a leading global technology company, strengthening
Birlasoft’s domain and digital capabilities to rapidly deliver world class
solutions with Innoveo’s enterprise-level no-code platform.
Covid-19 Solutions – Building Resilience for the
Long Haul
Covid has caused businesses to realize the need to accelerate
digital transformation. Building resilience and agility through digital-led
innovations is critical to their survival in the short and long term. Birlasoft
too, accelerated our development of digital solutions for our customers.
intelliOpenTM
Facility managers need to help protect employees and visitors
from the spread of COVID-19. intelliOpenTM integrates four
important components of protection: Self screening, Thermal Screening, Social
Distance Compliance and Contact Tracing, while adhering to regulatory
compliance, data privacy and confidentiality requirements.
Supplier Risk Radar
Sourcing
and procurement leaders struggle to effectively track their suppliers'
sustainability in the uncertain times of COVID-19. They need to minimize
supplier risk exposure and build disruption-free supply chains with this
AI-powered preventive risk mitigation solution.
Blockchain – Four New Solutions
1.
Warranty Management: From false claims and fake product to misunderstandings about
coverages, there are many challenges in warranty management. By bridging the
information gap between manufacturers, warranty providers, other participants
in the supply chain and the consumers, blockchain helps streamline the warranty
lifecycle.
2. Supply Chain Visibility and Resiliency: Companies are struggling to get supply chain
visibility. Our Blockchain solution improves ability to make decisions on
inventory, production scheduling, product availability.
3.
Container Tracking: End-to-end
container and shipment tracking provide an accurate view of the complete
journey of the shipment right from the manufacturing plant to end destination.
4.
Counterfeit Drug Detection and Supply Chain Traceability: Our multi-stage counterfeiting validation
solution, with end-to-end tracing and tracking of medicines or medical
equipment on Blockchain, empowers drug manufacturers, distributors, retailers
and patients to validate authenticity of drug or medical device.
Intelligent Automation Solution
Birlasoft’s
Smart Automation Solution Kit is offers a range of Automation Bots including
Supply Chain/Order Management, Master Data Management, Financial Processing, HR
& Payroll Processing, IT Health Check, and IT Service Desk & Reporting.
New Digital Experience & Co-innovation Centers
Birlasoft’s
Digital Labs (Pune, Noida and Raleigh) are state-of-the-art co-innovation
centers where customers can see, touch, and feel digital innovation. Two
examples of co-innovation are: 1) New ideas for Warehouse Safety, 2) IoT
Asset Health Monitoring for machinery buried deep in the ground. Customers can
work with us in a no-risk environment to solve their most pressing business
problems.
Pune, Noida (