Birlasoft Q1 Revenue; up 18% YoY 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 are a testimony to the trust shown in us. With the key objectives of ensuring our employee’s 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 US Telecom Major for providing Business Analysis & Testing Services as part of a multi-year deal. This has come on top of an earlier engagement to integrate the pre-paid and post-paid platforms.
• Chosen by a European Insurance major for transforming its global Human Resources solutions stack through the implementation of SAP SuccessFactors.
• Selected by a leading US Telecom Major for accuracy testing of its Application data
• 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 the 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 Americas region based on annual contract value (ACV) won over the last 12 months, according to the 1Q 2020 Global ISG Index™.
• 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.

intelliOpen^TM  

Facility managers need to help protect employees and visitors from the spread of COVID-19. intelliOpen^TM 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 the 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, empower drug manufacturers, distributors, retailers and patients to validate the authenticity of drug or medical device.

 Intelligent Automation Solution

Birlasoft’s Smart Automation Solution Kit 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 centres 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.