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Infibeam Avenues announces Fourth Quarter and Fiscal Year 2020 Results

Posted On: 2020-06-05 22:08:02


Leading global Financial Technology (FinTech) solutions provider Infibeam Avenues Limited ("Infibeam" or "The Company" or "IAL") (BSE: 539807; NSE: INFIBEAM), today announced its consolidated financial results for the fourth quarter and fiscal year ended March 31st, 2020.

Consolidated Highlights - Fiscal Year End March 31st, 2020 (INR million)

- Revenue was INR 6,481 Mn, up 10%, YoY
- EBITDA was INR 2,167 Mn, up 90% YoY
- EBITDA margin was 33.4%, up 72% YoY
- Adjusted PAT* was INR 998 Mn, up 128 % YoY
- Transaction Processed Value was INR 62,151 Cr, up 26% YoY
- Number of payment transactions (Volume) was 147 Mn, up 28% YoY
* Excluding exceptional income

Consolidated Highlights - Quarter Ended March 31st, 2020 (INR million)

- Revenue was INR 1,359 Mn, down by 27% YoY
- EBITDA was INR 491 Mn, down 3% YoY
- EBITDA margin was 36.1%, up 34% YoY
- Transaction Processed Value was INR 16,869 Cr, up 8.6% YoY
- Number of transactions processed, 40 Mn, up 39.3% YoY; highest ever

The Company recorded revenue of INR 6,481 million in FY 2020, up 10% YoY, due to strong engagements across Enterprise Software Platforms businesses (Platforms) and growth in Digital Payments business (Payments) in both, domestic and international operations.

Platforms business achieved strong double-digit revenue growth compared to previous year. During the year, upgrades and additional requirements by few subscription-based enterprise clients, and increase in volumes on GeM portal (transaction-based client) led to the growth. However, Q4 FY20 revenue was impacted due to lower invoicing and collections on account of lockdown in the last few days of March 2020.

The Payments business achieved growth during the year FY20 compared to the previous year despite few adverse effects. However, the Payments Business recorded strong volume of 147 million, up 28% YoY and recorded highest ever quarterly volume of 40 million in Q4 FY20, up 39% YoY.

The Payments Business in UAE, however, recorded strong sequential growth in the months of Q4 FY20, and in April and May 2020. The value and volume were up 42% and 48% respectively in May 2020 vs. Mar 2020. The Value and Volume grew in Ramadan May 2020 by 10% and 7% respectively over April 2020, compared to a fall of 13% and 8% in Ramadan May 2019 compared to April 2019. International markets present a strong growth opportunity. Hence, the company is expanding its geographic footprint with launch of payments business in the Kingdom of Saudi Arabia and United States of America. The Company plans to operate in 10-12 international markets over the next two to three years.

On account of pandemic, the consumer and the enterprise have felt the necessity for digital adoption and business transformation, leading to wide acceptance of digital payments in India as well as in our international operations. Merchant addition on Company's payments platform remained strong and unaffected even during the lockdown through end of March, April and May, which will potentially result in growth once the economy gradually re-opens. Due to partial relaxations allowed in May in India, the Company observed strong sequential growth in Payments Business' value and volume in the month of May.

Note: Fiscal year FY19 financials restated (unaudited) - excluding divestment and demerger of non-core businesses in FY19

Shares of Infibeam Avenues Ltd was last trading in BSE at Rs.57.05 as compared to the previous close of Rs. 55.05. The total number of shares traded during the day was 40538 in over 342 trades.

The stock hit an intraday high of Rs. 57.35 and intraday low of 54.5. The net turnover during the day was Rs. 2299695.


Source: Equity Bulls

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