Tanla Announces Fourth Quarter and FY24 Results
HYDERABAD, India - April 25, 2024 - Tanla Platforms Limited, India's largest CPaaS provider, today announced its financial results for the fourth quarter & year ended March 31, 2024.
KeyMetrics: Fourth Quarter (January – March 2024)
- Revenue increased by 20.6% year-over-year to ₹10,055 Mn
- Gross profit at ₹2,686 Mn. Gross margin at 26.7%
- Adjusted EBITDA at ₹1,877 Mn. Adjusted EBITDA margin at 18.7%. Reported EBITDA at ₹1,604Mn
- Adjusted Profit after tax increased by 10.4% year-over-year to ₹1,361 Mn. Adjusted Profit aftertax margin at 13.5%. Reported PAT at ₹1,302 Mn
- Earnings per share increased by 9.1% year-over-year to ₹ 9.69
- Free cash flow of ₹1,492 Mn
KeyMetrics: Twelve Months (April – March 2024)
- Revenue increased by 17.1% year-over-year to ₹39,278 Mn
- Gross profit at ₹10,559 Mn. Gross margin at 26.9%
- Adjusted EBITDA at ₹7,595 Mn. Adjusted EBITDA margin at 19.3%. Reported EBITDA at ₹7,322Mn
- Adjusted Profit after tax increased by 23.0% year-over-year to ₹5,542 Mn. Adjusted Profit after tax margin at 14.1%. Reported PAT at ₹5,483 Mn
- Earnings per share increased by 23.4% year-over-year to ₹ 40.78
- Cash & Cash Equivalents at ₹6,810 Mn and free cash flow of ₹4,311 Mn
Uday Reddy, Founder Chairman & CEO, said,“FY24has been an eventful year across all dimensions of innovation, customer success, and brand– commercializing greenfield platforms like Wisely ATP, value creation through the successful integration of ValueFirst acquisition, the strategic shift towards OTT channels, and showcasing our brand at scale. I am very excited as we enter the new year with the opportunities ahead of us.”
Significant events during the quarter:
- We announced the launch of MaaP platform for Google RCS and signed a MOU with Vodafone Idea Business Services to deploy the MaaP platform in India
- London Business School unveiled a case study titled 'FromAdversity to Leadership: Tanla Platforms’ Journey to Becoming India’s SaaS Titan'
- We extended our exclusive partnership with Truecaller for two years
- Tanla recognised as an ‘Industry Mover’ in S&P Global’sSustainability Yearbook for 2024 for more than doubling our ESG score, featuring in top 1% companies globally
- As part of our capital allocation policy of 30% dividend pay out of our consolidated profit after tax, the Board recommended ₹6 per share as final dividend subject to shareholders’ approval in the Annual General Meeting.
Reconciliation fromReported Numbers to Adjusted Numbers
Invitation to the conferencecall:
Tanlawill host a conference call and live webcast to discuss the financial resultson April 26, 2024, at 4.30 PM IST.
Conference calldetails:
Interestedparties may listen to the call by dialing +91 22 6280 1141 / +91 22 7115 8042,or if outside India, by dialing the toll-free number - the United Kingdom08081011573, United States 18667462133, Hong Kong 800964448, and Singapore8001012045. Watch the presentation at https://bit.ly/Q4FY24Call
For any additiona linformation, please contact:
Ritu Mehta
Director- Investor relations
About Tanla:
Tanla Platforms Limited 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 is included in prestigious indices such as the Nifty 500, BSE 500, Nifty Digital Index, FTSE Russell, and MSCI.
Safe Harbor and Other Information
The CPaaS business is evolving at a fast pace in India with very little information available in the public domain on the overall market. The financial community has always sought a response on the total market size, key drivers of the industry and the competitive landscape in this space. In order to provide more transparency and to help understand our business better, we are providing indicative data around the market size and our relative share (assuming the indicative data). This indicative data has been arrived at basis our detailed internal analysis.
This is being done with an intent to provide an indicative picture of the industry and address queries about the CPaaS space. This must not be seen as a positioning statement of the company, and one should not rely on the company's disclosure for their assessment of the market size or the relevant share of any participants in the market.
This presentation contains statements that include information concerning our possible or assumed strategy, future operations, financing plans, operating model, financial position, future revenues, projected costs, competitive position, industry environment, potential growth opportunities, potential market opportunities, plans and objectives of management, as well as assumptions relating to the foregoing that involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking in nature. Such statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. In some cases, although not all forward - looking statements contain these identifying words, you can identify forward-looking statements by terminology such as "expect," "anticipate," "should," "believe," "hope," "target," "project," "plan," "PROPOSED," "goals," "estimate," "potential," "predict," "may," "will," "might," "could," "intend," "shall," and variations of these terms or the negative of these terms and similar or derivate expressions. The forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements, expressed or implied by the forward-looking statements. It is advisable not to place excessive reliance on any of the forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Additionally, these forward-looking statements, involve risk, uncertainties and assumptions based on information available to us as of 05/06/23, including those related to the continued impacts of COVID-19 on our business, future financial performance and global economic conditions. Many of these assumptions relate to matters that are beyond our control and changing rapidly, including, but not limited to, the timeframes for and severity of social distancing and other mitigation requirements, the timing of headwinds from COVID-19, the availability of vaccinations, the continued impact of COVID-19 on new or existing customers, business decisions and the length of our sales cycles, renewal timing or billings terms, particularly for customers in certain industries highly affected by COVID-19.
If the risks or uncertainties ever materialize or the assumptions prove incorrect, our results may differ materially from those expressed or implied by such forward-looking statements. We assume no obligation and do not intend to update these forward-looking statements or to conform these statements to actual results or to changes in our expectations, except as required by law.
This presentation contains statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information wherever possible, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to place excessive weightage to these estimates. We have not independently verified the accuracy or completeness of the data contained in these industry publications and other publicly available information, wherever referred. Certain statements that might or might not be forward-looking statements represent our management's beliefs and assumptions only as of the date of this presentation. Accordingly, we make no representations as to the accuracy or completeness of that data nor do we undertake to update such data after the date of this presentation.
By receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business. Any logos or trademarks other than Tanla, Karix, Gamooga, Trubloq & Wisely included herein are the property of the owners thereof and are used for reference purposes only.
