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Cash levels at Majesco

Posted On: 2020-03-24 12:18:55


US Majesco - Out of the $45 million that they already have, they will be expending the $12 million for the InsPro acquisition and they will still be having close to $35 million even after the acquisition. So the fact is that Majesco US is generating good cash flows, that allows them even to do some decent, small acquisition.

Majesco India - Turning onto the balance sheet. Majesco's balance sheet as of 31st December 2019, continues to reflect a debt-free company. The company is generating cash sufficient to fund its operations ending with the total cash, cash equal and short-term investment of Rs.359 crores as of 31st December 2019 compared to Rs.391 crores as of 30th September 2019. This was after making an investment of an amount of Rs.113.1 crores for acquiring 4.7% stake in Majesco US in December 2019. Excluding the investment, the net cash addition has been approximately Rs.80 crores built upon overall good performance in Q3 and an improvement in the working capital. The cash balance provides us a significant flexibility to invest in growth producing opportunities.

The dividend outflow should not cost more than Rs 10 Cr. So Majesco India is sitting in around Rs 350 Cr cash. This is not including the cash generated since 31st Dec. Current MCap is around Rs 525 Cr.

Cloud revenue is around 44% of its revenue. Recurring revenue is around 41%.

Shares of Majesco Ltd was last trading in BSE at Rs.189.5 as compared to the previous close of Rs. 210.55. The total number of shares traded during the day was 686 in over 105 trades.

The stock hit an intraday high of Rs. 206 and intraday low of 189.5. The net turnover during the day was Rs. 130869.


Source: Equity Bulls

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