Tanla Announces Second Quarter 21-22 Results
EBITDA at 21.3 and improved by 473 basis points year-over-year. Profit after tax increased by 50 year-over-year to 2,407 million. Earnings per share increased by 61 to 17.71. Free cash flow at 3,502 million.Uday Reddy, Founder Chairman CEO, Tanla Platforms Limited said, Our stellar performance was contributed by higher wallet share from existing customers and additional market share expansion from newer clients. Significant events during the quarter Gartner recognizes Tanla In the latest CPaaS market guide as a key global solution provider in the Developer market.
Key Metrics: Second Quarter • Revenue increased by 44% year-over-year to ₹8,416 million.
• Gross profit increased by 71% year-over-year to ₹2,302 million. Gross margin % at 27.4% and improved by 440 basis points year-over-year.
• EBITDA increased by 83% year-over-year to ₹1,787 million. EBITDA % at 21.2 % and improved by 452 basis points year-over-year.
• Profit after tax increased by 67% year-over-year to ₹1,362 million.
• Earnings per share increased by 72% to ₹10.04.
• Free cash flow at ₹2,217 million and Cash & Cash Equivalents at ₹8,457 million Key Metrics: Half Yearly • Revenue increased by 41% year-over-year to ₹14,680 million.
• Gross profit increased by 68% year-over-year to ₹4,037 million. Gross margin % at 27.5% and improved by 443 basis points year-over-year.
• EBITDA increased by 82% year-over-year to ₹3,132 million. EBITDA % at 21.3% and improved by 473 basis points year-over-year.
• Profit after tax increased by 50% year-over-year to ₹2,407 million.
• Earnings per share increased by 61% to ₹17.71.
• Free cash flow at ₹3,502 million.
Uday Reddy, Founder Chairman & CEO, Tanla Platforms Limited said, ''Our stellar performance was contributed by higher wallet share from existing customers and additional market share expansion from newer clients.'' Significant events during the quarter • Gartner recognizes Tanla In the latest CPaaS market guide as a key global solution provider in the Developer market. Only Asian Company to be recognized under Developer category.
• We celebrated the first anniversary of the commercial launch of Trubloq, the world's first and largest block-chain use case, and increased our market share to 63%.
• We closed two significant partnerships on the Wisely platform, which will be announced during the quarter.
• The customer base has expanded with the addition of 87 new customers. Revenues from >₹10Mn+ customers grew by 46% year-over-year.
We hired 111 employees during the quarter. To date, 91% of employees have received the first dose of vaccination. Our senior leadership team is back in the office, and we plan to bring the rest of the employees back in a phased manner.
• Appointed PwC as our consultants to advise us on our ESG aspirations & roadmap. Under Social of ESG, Tanla Foundation signed an MoU with Education Dept, Govt of Telangana for PILLARS (Project for Improvement of Learning Levels through Academic support for Rural Schools).
• Completed buyback of equity shares. A total of 705,677 shares were bought back at an average price of ₹ 907 per equity share. ₹ 801 million was incurred towards buyback, out of which, ₹ 649.8 million was returned to shareholders, ₹ 151 million was paid as buyback tax@ 23.36% on the distributed amount and ₹ 16 million was paid towards transaction cost. The buyback was closed on September 06, 2021.
• Final dividend was approved by the shareholders in the annual general meeting, and we have completed the payouts.
Invitation to a conference: Tanla will host a conference call and live webcast to discuss the financial results.
Conference call details: The conference call will begin at 4.00 PM IST on October 22, 2021. Interested parties may listen to the call by dialing +91 22 6280 1141 / +91 22 7115 8042, or if outside India, by dialing toll-free number UK 08081011573, USA 18667462133, Hong Kong 800964448, and Singapore 8001012045. The live audio webcast link will be available on the Tanla website About Tanla Tanla transforms the way the world collaborates and communicates through innovative CPaaS solutions. Founded in 1999, it was the first company to develop and deploy A2P SMSC in India. Today, as one of the world's largest CPaaS players, it processes more than 800 billion interactions annually and about 63% of India's A2P SMS traffic is processed through Trubloq, making it the world's largest Blockchain use case. Wisely, our patented enterprise-grade platform offers private, secure, and trusted experiences for enterprises and mobile carriers. Tanla Platforms Limited is headquartered in Hyderabad. Tanla is listed on two national exchanges, the NSE and BSE, (NSE: TANLA; BSE:532790), and included in prestigious indices such as the Nifty 500 and BSE 500, FTSE Russell, and MSCI.
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Consolidated statement of Profit and Loss (Unaudited): Rs. Lakhs Particulars Q2FY22 Q1 FY 22 Q2 FY 21 I. Revenue from operations (net) 84,161.76 62,638.36 58,324.67 II. Other income 314.48 430.13 474.47 III. Total Income (I+II) 84,476.24 63,068.49 58,799.14 IV. Expenses Cost of services 61,138.78 45,292.73 44,891.65 Employee benefits expense 3,305.47 2,530.56 2,283.26 Depreciation and amortisation expense 1,041.40 914.97 992.26 Connectivity expenses 351 275.18 280.78 Finance costs 57.87 16.28 8.94 Other expenses 1,498.37 1,087.01 1,115.73 Total expenses (IV) 67,392.89 50,116.73 49,572.62 V. Profit before share of profit/loss of associate 17,083.35 12,951.76 9,226.52 and income tax (III - IV) VI. Share in net profit/(loss) of associate - - - VII. Profit before tax (V - VI) 17,083.35 12,951.76 9,226.52 VIII. Tax expense: Current tax 3,356.95 2,488.48 1,053.21 Prior period taxes/MAT credit -177.66 -195.37 - Deferred tax 287.01 210.16 26 IX. Net Profit for the period (VII - VIII) 13,617.05 10,448.49 8,147.31 X. Other comprehensive income 25.11 200.28 -330.52 XI. Total Comprehensive income for the period (IX + X) 13,642.16 10,648.77 7,816.79 XII. Earnings per equity share Basic & Diluted (not annualized for quarters) 10.04 7.68 5.85 Consolidated Abridged Cash Flow Statement (Unaudited): Rs. Lakhs Net cash provided by/(used in): H1 FY 22 FY 21 H1 FY 21 Operating activities 37,308.22 56,101.69 19,339.40 Investing activities -1,546.19 -977.64 7.78 Financing activities -9,608.81 -16,767.36 -16,013.84 Net increase in cash and cash equivalents 26,153.22 38,356.69 3,333.34 Cash and cash equivalents at the beginning of the year 58,414.15 20,057.47 20,057.47 Cash and cash equivalents at the end of the period 84,567.37 58,414.16 23,390.81 Consolidated statement of assets and liabilities ASSETS Rs. Lakhs Non-current assets As at Sept 30, 2021 As at Mar 31, 2021 (Audited) (Unaudited) Property, plant and equipment 3,170.21 2,966.56 Intangible assets 9,852.11 8,881.46 Intangible assets under development 1,232.23 638.67 Goodwill on Consolidation 13,455.69 13,455.69 Right-of-use assets 3,492.28 385.79 Other financial assets 728.39 627.09 Deferred tax assets 3,787.20 4,284.37 Other non-current assets 1,681.47 3,069.23 Total non-current assets 37,399.58 34,308.86 Current assets Trade receivables 44,289.49 37,314.68 Cash and cash equivalents 79,573.80 53,710.97 Bank balances other than cash and cash equivalents 4,993.57 4,703.18 Loans and advances 353.92 343.55 Other financial assets 33,502.88 25,646.05 Other current assets 5,492.04 5,233.46 Total current assets 1,68,205.70 1,26,951.89 TOTAL ASSETS 2,05,605.28 1,61,260.75 EQUITY AND LIABILITIES Equity Equity share capital 1,353.31 1,360.36 Other equity 1,02,858.23 87,949.86 Total equity 1,04,211.54 89,310.22 Non-current liabilities Lease liabilities 3,589.08 348.67 Other financial liabilities 34.6 45.35 Provisions 482.74 600.98 Other non-current liabilities 40.85 219.56 Total non-current liabilities 4,147.27 1,214.56 Current liabilities Financial liabilities Trade payables 69,500.58 50,619.82 Lease liabilities 178.68 86.24 Other financial liabilities 23,895.59 19,188.38 Other current liabilities 2,710.13 574.53 Provisions 122.88 96.41 Liabilities for current tax (net) 838.61 170.59 Total current liabilities 97,246.47 70,735.97 TOTAL EQUITY AND LIABILITIES 2,05,605.28 1,61,260.75 Logo - https://mma.prnewswire.com/media/627459/Tanla_Solutions_Logo.jpg
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