Q1 FY20 Financial Highlights:
Revenue: Registering 14% growth YoY
License Revenue: Registering 41% growth YoY
Digital led wins
EBITDA and Net Profit
Collections and Net DSO
Cash and Debt position
iGTB registered INR 131.52 Cr Revenue
IDC 19.1 gaining momentum
Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “Our focus on high quality opportunities is yielding results. We have a funnel of around USD 500 million, which we feel is the right size to provide focus for closure. In this quarter iGCB is also gaining traction on revenues in line with iGTB. We are also seeing very high acceptance of Xponent in the US market but these being cloud deals, the revenues are tail ended. Based on current pipeline and visibility, we are on track to achieving around 20% YoY growth.”
Venkateswarlu Saranu, Chief Financial Officer, Intellect Design Arena Limited said, “We are in line with our cost management and operating cash flow plans. With the maturity of products, we have started the process of de-layering and off-shoring design talent from US and Canada to India. With this initiative we have been able to contain costs better in the quarter.”
Intellect went live in 9 financial institutions across the world during this quarter. Some of the significant implementations in Q1 FY20 include:
Intellect’s cutting-edge digital technologies and products have been recognized by renowned global analysts and research firms.
IBS ranks Intellect no. 1 amongst top vendors worldwide in IBS Sales League Table for 2019
Intellect ranked amongst top vendors worldwide in IBS Sales League Table for 2019. Ranked No. 1 for Retail Banking Systems Worldwide, Ranked No. 2 for Payments & Cards Management, (Domestic Leaders – Suppliers); Ranked No. 3 for Digital Banking & Channels Worldwide and Ranked No. 4 for Digital Banking Experience Platform (Domestic Leaders – Suppliers).
Aite Group has profiled Intellect SEEC as a “Full AI suite provider” in its report titled, “P&C underwriting: Changing the global dynamics with AI”
Aite Group, a global research and advisory firm profiled Intellect SEEC as a “Full AI suite provider”. The report will help executives from P&C insurance carriers evaluate the major AI trends affecting the underwriting process. It mentions that the clients using Intellect’s services see a reduction in time needed for underwriting decision-making, reduction in cost from premium data sources, reduction in time for new business case processing, and improvement in decision accuracy & consistency by using their AI and ML solutions.
Intellect has been recognized as a ‘Global Pursuer’ and a ‘Global Player’ for Combined Deals & New Named Deals in the Global Banking Platform Deals Survey 2019
Forrester, a leading American market research company acknowledged Intellect Design Arena as a ‘Global Pursuer’ for new named deals and a ‘Global Player’ for combined deals in the Global Banking Platform Deals Survey 2019 by Forrester Research, Inc.
Novarica recognized Intellect SEEC for the Novarica Impact award at its report titled “Research Council Study- Insurance Technology Case study compendium 2019”
The Novarica Research Council Impact Awards has recognized Intellect SEEC for the Novarica Impact award in IT Digital Innovation practices (IT Practice or Infrastructure). The report features Intellect’s Underwriting workbench platform hosted on AWS that leverages multiple AWS capabilities for companies like Amerisure and StarStone.
iGTB rated as LEADER in the space of “AI in the UI” in the Celent report titled ‘AI in the UI: Leaders Differentiate Themselves – Vendor spectrum – Corporate Banking Edition’
AI based UI Development (AI-UI) Artificial Intelligence (AI) is currently one of the most popular topics in the industry with seemingly endless applications in everything. iGTB has been rated as LEADER in the space of “AI in the UI” at the Celent report titled ‘AI in the UI: Leaders Differentiate Themselves – Vendor spectrum – Corporate Banking Edition’.
Additional Information on function wise classification of statement of Profit and Loss of the Group (Consolidated Unaudited / Not Reviewed)
INR in Lakhs
|Particulars||QUARTER ENDED||YEAR ENDED|
June 30, 2019
(Q1 FY 20)
June 30, 2018
(Q1 FY 19)
March 31, 2019
(Q4 FY 19)
March 31, 2019
|Income from software product license and related services||34,338.13||30,013.41||39,758.20||1,45,873.25|
|Software development expenses||18,158.79||15,942.01||19,033.85||73,717.60|
|Gross Margin %||47.12%||46.88%||52.13%||49.46%|
|Selling and marketing & General and administrative expenses||11,403.73||10,382.39||12,099.31||45,526.46|
|Research & Engineering expenses||3,355.13||2,145.43||3,192.44||10,039.81|
|Provision for Debts and Write offs||195.00||195.00||219.48||1,739.16|
|Other Income (including Treasury)||1,507.66||4,166.09||566.44||6,270.56|
|Reinstatement of Receivables / Liabilities||23.32||93.14||(305.06)||(1,180.31)|
|Minority Interest/ Share of profit/(loss ) of Associate Companies||(282.97)||(27.93)||611.13||305.03|
|Profit / (Loss) before tax||366.34||4,300.98||4,471.66||14,029.21|
|Provision for taxation||27.22||(51.47)||173.83||894.70|
|Profit / (Loss) after tax||339.12||4,352.45||4,297.83||13,134.51|