Coforge Q4 Results Update

On 12th May 2022, Coforge,  a leading global IT solutions organization announced its quarterly results for the last quarter of FY2022.

Key Highlights:

FY2022:

- Reported revenue of 866.5 million in USD terms and 64,320 million in INR terms 

- 38.0% YoY growth in USD, 37.9% in INR and 37.6% in cc terms 

- Adjusted EBITDA margin of 18.9% in cc terms 

- PAT for the year increased 45.2% in INR terms

Q4FY22:

- Revenue for the quarter was $232.4 million in USD terms and Rs.17,429 million in INR terms with a growth of 38.2% YoY in INR terms and 35.0% YoY in USD terms and saw a growth of 5.1% in INR, 4.9% in USD and 5.0% in constant currency terms in QoQ basis.

- Adjusted EBITDA margin for the quarter expanded to 20.6% in cc and 20.4% in reported terms 

- PAT for the quarter increased 56.2% YoY in INR terms

Business Highlights:

- Total order book executable over the next 12 months stands at $720 million 

- Order intake was $301 million while 12 new client logos were added during the quarter 

- Attrition at 17.7% continues to be amongst the lowest in the industry 

- Coforge earned the Global Elite distinction in the new Pega Partners Program 

- Coforge Salesforce Business Unit won the ‘JAPAC – Breakthrough Partner of the Year’ award from MuleSoft

Commenting on the results Mr. Sudhir Singh, Chief Executive Officer, Coforge Ltd, “FY’22 was a landmark year for the firm and the performance data speaks for itself. Revenue grew 38%, EBITDA grew 42% and PAT grew 45%. The firm is now focused on carving an accelerated growth path to the $2 billion revenue milestone.”

For the fiscal year FY’23, the firm issued an annual revenue growth guidance of around 20% and is targeting an adjusted EBITDA margin of 18.5% to 19.0% in constant currency terms.

Board recommended an interim dividend of Rs.13 per share

Tags-: Coforge Q4 Results, Coforge, Quarterly Results, Global IT solutions, Coforge Ltd, Coforge Q4FY22