Concall notes:
- Uptick seen after eight quarters in business
- Raised 130 cr through preferenctial allotment which will be utilized
for repayment of existing loans and to strengthen products, and selling and marketing
activities. - At $27.6 million (228cr), booking for the quarter is highest recorded in eight quarters.
This is 103% higher than December 2021 Quarter and 59% higher sequentially from
September ‘22 quarter - During the quarter, unexecuted order book was $191 million (1500cr)
- Attrition came down by 6% on a trailing 12-month basis, with the trendline
clearly moving downwards. - HRP is totally subscription based, other businesses would be annuity type
- The unenexecuted order book once started to execute will ensure revenue for next 4-5 years. Same will continue as new orders keep coming.
- Order writeoffs will continue to happen til next year q3 that is another 4 quarters. So P n L will continue to show losses. However managent aims to initially becoming cash positive, that may take 1-2 quarters
- 93 crores of leftover debt would be paid off, and 35 crores of cash left from the raised funds would be used for clocking new orders
- Write offs are based on, during the pandemic, lot of orders were stopped, or
companies went back; so all those things which company recognized because recognizing licenses, and so on. So, once a project is stopped or stalled company is prudently looking at and making sure that they write off whatever they think is not going to revive.
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