Newgen Software Technologies Ltd (BOM:540900)

Q4 2024 Newgen Software Technologies Ltd Earnings Call Transcript

Apr 30, 2024 / 10:30AM GMT

Release Date Price: ₹929.65 (+7.36%)

Transcript

Key Points

Positve

Newgen Software Technologies Ltd (BOM:540900) reported a strong revenue growth of 28% YoY, reaching INR1,244 crores.
The company witnessed robust profitability with a 42% YoY growth in profit after tax, amounting to INR252 crores.
Significant growth in key markets: EMEA and India saw growth rates of 39% and 33% respectively.
The company secured its largest-ever project in the APAC region, valued at INR97 crores.
Newgen Software Technologies Ltd (BOM:540900) launched several new AI-enabled products and platforms, including the NewgenONE platform called Marvin and the next-generation low-code Trade Finance Solution.

Negative

The US market strategy is still a work in progress, with slower growth and ongoing adjustments needed.
The company faces challenges in the mature markets, particularly in the US and Europe, which are not showing significant growth.
Despite strong performance, the company’s net trade receivables are high, resulting in a net DSO of 130 days.
The tax rates for the next financial year are expected to be higher, which could impact net margins.
The company’s BPO segment remains small and has not shown significant traction or growth.

Operator

Ladies and gentlemen, good day, and welcome to the Q4 FY24 conference call of Newgen Software Technologies Limited. (Operator Instructions) Please note that this conference is being recorded.

I now hand the conference over to Ms. Deepti Mehra Chugh. Thank you, and over to you, ma'am.

Deepti Chugh

Newgen Software Technologies Ltd - Investor Relations

Thank you. Good afternoon, everyone. I am Deepti Mehra Chugh, Investor Relations, Newgen Software Technologies Limited. And I would welcome you all to Q4 FY24 results of the company. Joining with me today on the call is our management, Mr. Diwakar Nigam, Chairman and Managing Director; Mr. Varadarajan, Founder and Whole time Director; Mr. Virender Jeet, Chief Executive Officer; and Mr. Arun Gupta, Chief Financial Officer.

Due to bad throat of Mr. Nigam, Mr. Varadarajan will take up presentation of the results. Before we move on to the discussion, let me highlight that this call may contain certain forward-looking statements concerning Newgen's future business prospects and profitability, which

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