DRC Systems India Limited Announces Q3FY22 Financial Results
Operational revenue for the 9M period stood at INR 1,485.6 Lacs, up 4.4%. 9M EBITDA at a record high of INR 180.7 Lacs up 429.9% Y‐o‐Y.
Gandhinagar, India, 19th January, 2022 – Information Technology and Software Consultancy Services provider, DRC Systems India Limited “DRC Systems” “the Company”, today announced standalone financial results for the quarter ended December 31st, 2021.
Outcome of Board Meeting:
- The Board has approved overseas investment for acquiring 2.3% stake of AutoDAP B.V, Netherlands at a total cash consideration of EUR 16,76,700.
- Further, subject to the approval of shareholders and regulatory authorities, the Board has also approved split of Equity Shares of the Company from the existing Face Value of Rs. 10/‐ per Equity Share to Face Value of Re. 1/‐ per Equity Share. The Company aims to make the script more affordable and increase market liquidity.
Standalone Highlights – Quarter Ended December 31st, 2021 (INR Lacs)
- Revenue was INR 428.9 Lacs, down by 11.0 % YoY; down by 19.8 % QoQ
- EBITDA was INR 58.4 Lacs, up 398 % YoY; down by 9 % QoQ.
- EBITDA margin was 13.6 %, up 434.6 % YoY; up by 13.4% QoQ.
- Profit Before Tax was INR 32.0 Lacs, up by 150.6% YoY; up by 41.6% QoQ
During the quarter, the Company has demonstrated another accelerated performance quarter. The Company has registered strong financial performance which is largely attributed to strong capability to capitalize on new opportunities in the fast digital transformation space, having significant impact on revenue and profitability.
Key Business and Operational Highlights
During the quarter, the Company has entered into some of the large business contracts for developing and implementing digital infrastructure in India and international.
- Entered into a contract with the EMAR Group, through a partner company, to develop a blockchain-based wallet.
- Entered into a contract and signed a deal extension with an Australia-based client to develop a sustainable energy software platform.
- Entered into contract with TeamLease for premium services in e‐learning space.
- Entered into contract with Krazzy Fin Pvt Limited to develop fantasy stock trading platform.
Standalone Financial Highlights: Q3 FY22 (Amounts in INR Lacs)
| Particulars | Q3FY22 | Q3FY21 | % change YoY | Q2FY22 | % change QoQ |
|---|---|---|---|---|---|
| Revenue | 428.9 | 481.7 | -11.0% | 534.8 | -19.8% |
| Profit Before Tax | 32.0 | -63.3 | 150.6% | 22.6 | 41.6% |
| EBITDA | 58.4 | -19.6 | 398.0% | 64.2 | -9.0% |
| EBITDA Margin | 13.6% | -4.1% | 434.6% | 12.0% | 13.4% |
Company’s Managing Director Mr. Hiten Barchha said, “We are pleased with the progress in our engagements with our clients during Q3FY22. The performance during the quarter is the result of the innovative and comprehensive solutions we offer to clients globally. We continue to empower businesses and create long-term value. Further to expand our portfolio of services we are continuously building our capabilities in Fintech space.“
About DRC Systems India Limited
DRC Systems is an IT services and consulting company based in India, dedicated to providing sustainable and impactful business solutions. Since our inception in 2012, we have focused on innovation and creativity to drive change. Our services and solutions empower businesses to scale and stay competitive in the market. Our services and solutions help businesses scale the market. Over the years, we have diversified our service offerings through a mix of organic growth and strategic transactions. Our wide range of services allows us to build strong client relationships and create opportunities for cross-selling.Our customer base spans multiple geographies, primarily in Europe, the USA, the Middle East, and Asia.
