Birlasoft Limited is a Mid Cap IT company having a market cap of 7,912.15 crore during today’s concluding session. Being a part of the multibillion dollar diversified The CK Birla Group, Birlasoft has declared its Q4 and FY23 earnings with a dividend of 100%.
The Board of Directors has approved the “Recommendation of a Final Dividend of Rs. 2/- per equity share of face value of Rs. 2/- each (100%), for the financial year 2022-23, subject to its declaration by the members in the ensuing Annual General Meeting (“AGM”) of the Company. The date of the AGM will be intimated in due course. Of course, and dividend, if declared by the members, shall be paid within the statutory timelines,” Birlasoft said in a stock exchange filing today.
During the quarter ended March 2023, the company reported revenue from operations of Rs 1101.4 crore, a decline of 10.19% over the previous year. 1226.4 crore during the quarter ending March 2022. Company reported EBITDA 174.5 Cr down 4.50% YoY during Q4FY23 167 crore was recorded during Q4FY22. Birlasoft said its net profit during the quarter under review stood at Rs 132.9 crore, down 18% from last year. 112.20 crore during the year-ago quarter.
Mr. Angan Guha, Chief Executive Officer and Managing Director, Birlasoft said, “We are pleased to report a strong operating quarter with strong revenue and EBITDA margin performance driven by continued business growth. Deal signing during the quarter was the best during the year under review at TCV of $286 million. The solid fundamentals of our business, the investments we’re making to enhance our capabilities, and the momentum with which we enter the new fiscal year respond to the challenges of an increasingly uncertain macroeconomic environment and changing customer preferences going forward is well positioned to meet the challenges of
“Revenue grew by 16.1% for the financial year FY’23 47,948 million, and cash flow from operations was 100% of adjusted EBITDA, sustained focus on collections resulted in best-in-class DSO of 53 days. We ended the year with a strong balance sheet and believe that a restructured organization, sharp focus and disciplined execution should position us well to successfully navigate through the prevailing macroeconomic environment,” Ms. Kamini Shah, said Chief Financial Officer, Birlasoft.
Birlasoft shares closed today on NSE up 2.27% from the previous close of 288.05 281.65. The stock touched a 52-week high at 419.10 (05-May-2022) and 52-week low 250.25 on (03-Feb-2023). During Q4FY23, the company reported promoter shareholding of 41.08%, FII shareholding of 11.47%, DII shareholding of 21.20%, public shareholding of 26.17% and others shareholding of 0.08%. As per the shareholding pattern of Birlasoft, veteran investor Ashish Dhawan held 27,64,615 shares or 1.01% stake in the company during Q4FY23.
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