Ceinsys Tech (538734) Q4 14/15 earnings summary

Executive summary

• FY15 total income rose 26.94% standalone and 36.10% consolidated; PAT grew 0.88% and 14.05%, respectively, as consolidated performance outpaced standalone results.

• The business expanded from GIS services toward turnkey solutions, with major water and energy contracts, BSE-SME listing, and new Zambia operations.

Financial highlights

• Standalone total income was ₹984,485,473 vs ₹775,542,112; EBITD ₹195,838,333, up 6.14%; PBT ₹97,463,982, up 1.93%; PAT ₹65,630,176, up 0.88%.

• Consolidated total income was ₹1,086,734,364 vs ₹798,505,457; EBITD ₹200,910,519, up 10.81%; PBT ₹101,347,237, up 11.02%; PAT ₹69,347,200, up 14.05%.

• Standalone operating revenue increased to ₹976,791,918 from ₹766,443,304; other income was ₹7,693,555.

• Operating cash flow was negative ₹854.09 lakh standalone and negative ₹435.87 lakh consolidated, despite positive net income.

Outlook and guidance

• FY15 business development reached ₹228 crore, up 138% YoY, while execution was ₹109 crore, up ~36%; these are reported performance figures, not FY16 guidance.

• FY16 priorities included expanding energy, water-quality mapping and land-records work across Punjab, Himachal Pradesh and Hyderabad, and extending services into Mexico and wider Central and South America.

• Plans targeted Smart City system-integration opportunities and growth in BIM, including Middle East markets; an IIIT Nagpur PPP partnership with government entities and TCS was announced.