Q3 2024 Allied Digital Services Ltd Earnings Call Transcript
Key Points
- Allied Digital Services Ltd (BOM:532875) reported consolidated revenues of INR171 crore in Q3 FY24, showing marginal growth on a quarter-on-quarter basis.
- The company has secured several significant contract renewals, including a $2.7 million renewal with a prominent American home appliance brand and a $1.8 million renewal with a distinguished restaurant chain.
- Allied Digital Services Ltd (BOM:532875) has been recognized by the Great Place to Work Institute, highlighting its commitment to exemplary talent management practices.
- The company is making strategic progress on its SaaS platform ADiTaaS, which is witnessing upgrades and enhancements.
- Allied Digital Services Ltd (BOM:532875) has won new orders, including a prestigious award for the Ayodhya Smart City project and a contract with a bank based on the East Coast of the US for end-user transformation services.
- The company faced delays and deferrals in closing contracts in the US, impacting its financial performance.
- EBITDA for Q3 FY24 was INR21 crore, lower than INR30 crore in Q3 FY23, with the EBITDA margin decreasing from 17% to 12%.
- Profit after tax for Q3 FY24 was INR12 crore, compared to INR11 crore in Q2 FY24, indicating only a slight improvement.
- The focus on cost-cutting in the US market has led to delayed decision-making by potential customers, affecting IT spending.
- The traction in government projects in India has led to continued stress on cash flows, although the overall cash position has shown an improving trend.
Ladies and gentlemen, good day, and welcome to the Allied Digital Services Limited Q3 and nine months FY24 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Mayank Vaswani from CDR India. Thank you, and over to you, sir.
Thank you, Rayo. Good afternoon, and thank you for joining us on Allied Digital Services Limited's earnings call for the third quarter and nine months of financial year 2023-2024. We have with us on the call today, Mr. Nitin Shah, Founder and CMD; Mr. Nehal Shah, Executive Director; Mr. Paresh Shah, Global CEO; and Mr. Gopal Tiwari, Chief Financial Officer.
We will open with comments from Mr. Nehal Shah, covering recent developments across the business, following which Mr. Paresh Shah, will cover the operational performance and order wins. Mr. Gopal Tiwari, will then walk us through the financial highlights, followed by our CMD, who will share his views on the performance for the quarter.
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