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Tanla Announces Second Quarter 21-22 Results



HYDERABAD, India, Oct. 22, 2021 /PRNewswire/ -- Tanla Platforms Limited, India's largest CPaaS provider, today announced its financial results for the quarter two of FY'21-22.


Tanla_Solutions_Logo

Key Metrics: Second Quarter


  • Revenue increased by 44% year-over-year to ₹8,416 million.
  • Gross profit increased by 71% year-over-year to ₹2,302 million. Gross margin % at 27.4% and improved by 440 basis points year-over-year.
  • EBITDA increased by 83% year-over-year to ₹1,787 million. EBITDA % at 21.2 % and improved by 452 basis points year-over-year.
  • Profit after tax increased by 67% year-over-year to ₹1,362 million.
  • Earnings per share increased by 72% to ₹10.04.
  • Free cash flow at ₹2,217 million and Cash & Cash Equivalents at ₹8,457 million

Key Metrics: Half Yearly


  • Revenue increased by 41% year-over-year to ₹14,680 million.
  • Gross profit increased by 68% year-over-year to ₹4,037 million. Gross margin % at 27.5% and improved by 443 basis points year-over-year.
  • EBITDA increased by 82% year-over-year to ₹3,132 million. EBITDA % at 21.3% and improved by 473 basis points year-over-year.
  • Profit after tax increased by 50% year-over-year to ₹2,407 million.
  • Earnings per share increased by 61% to ₹17.71.
  • Free cash flow at ₹3,502 million.

Uday Reddy, Founder Chairman & CEO, Tanla Platforms Limited said, "Our stellar performance was contributed by higher wallet share from existing customers and additional market share expansion from newer clients."


Significant events during the quarter


  • Gartner recognizes Tanla In the latest CPaaS market guide as a key global solution provider in the Developer market. Only Asian Company to be recognized under Developer category.
  • We celebrated the first anniversary of commercial launch of Trubloq, world's first and largest block-chain use case and increased our market share to 63%.
  • We closed two significant partnerships on Wisely platform, which will be announced during the quarter.
  • The customer base has expanded with addition of 87 new customers. Revenues from >₹10Mn+ customers grew by 46% year-over-year.
  • We hired 111 employees during the quarter. To date, 91% of employees have received first dose of vaccination. Our senior leadership team are back to office, and we plan to bring rest of employees back in a phased manner.
  • Appointed PwC as our consultants to advise us on our ESG aspirations & roadmap. Under Social of ESG, Tanla Foundation signed an MoU with Education Dept, Govt of Telangana for PILLARS (Project for Improvement of Learning Levels through Academic support for Rural Schools).
  • Completed buyback of equity shares. Total of 705,677 shares were bought back at an average price of ₹ 907 per equity share. ₹ 801 million was incurred towards buyback, out of which, ₹ 649.8 million was returned to shareholders, ₹ 151 million was paid as buyback tax@ 23.36% on distributed amount and ₹ 16 million was paid towards transaction cost. The buyback was closed on September 06, 2021.
  • Final dividend was approved by the shareholders in the annual general meeting, and we have completed the payouts.

Invitation to conference:


Tanla will host a conference call and live webcast to discuss the financial results.


Conference call details:


The conference call will begin at 4.00 PM IST on October 22, 2021. Interested parties may listen to the call by dialing +91 22 6280 1141 / +91 22 7115 8042, or if outside India, by dialing toll free number UK 08081011573, USA 18667462133, Hong Kong 800964448, and Singapore 8001012045. The live audio webcast link will be available on the Tanla website


About Tanla


Tanla 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 included in prestigious indices such as the Nifty 500 and BSE 500, FTSE Russell and MSCI.


Safe Harbor


This document contains "forward-looking" statements, and these statements involve substantial risks and uncertainties. All statements other than statements of historical fact could be deemed forward-looking, including, but not limited to, expectations of future operati­ng results or financial performance, market size and growth opportunities, the calculati­on of certain of our key financial and opera­ting metrics, plans for future operati­ons, compe­­titive posi­tion, technological capabili­ties, and strategic rela­tionships, as well as assump­tions relati­ng to the foregoing. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quanti­fied. In some cases, you can identi­fy forward-looking statements by terminology such as "expect," "anti­cipate," "should," "believe," "hope," "target," "project," "plan," "goals," "es­timate," "potenti­al," "predict," "may," "will," "might," "could," "intend," "shall," and varia­tions of these terms or the negati­ve of these terms and similar expressions. You should not put undue reliance on any 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.


Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond our control. Our actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors. 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 document contains sta­tisti­cal data, es­timates and forecasts that are based on independent industry publica­tions or other publicly available informati­on, as well as other informa­tion based on our internal sources. This informa­tion involves many assump­tions and limitati­ons, and you are cauti­oned not to give undue weight 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. 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 document.


By receiving this document, 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 refernce purpose only.


 


Consolidated statement of Profit and Loss (Unaudited):








Rs. Lakhs


Particulars 


Q2FY22


Q1 FY 22


Q2 FY 21


I. Revenue from operations (net)


84,161.76


62,638.36


58,324.67


II. Other income


314.48


430.13


474.47


III. Total Income (I+II)


84,476.24


63,068.49


58,799.14


IV. Expenses








Cost of services


61,138.78


45,292.73


44,891.65


Employee benefits expense


3,305.47


2,530.56


2,283.26


Depreciation and amortisation expense


1,041.40


914.97


992.26


Connectivity expenses


351


275.18


280.78


Finance costs


57.87


16.28


8.94


Other expenses


1,498.37


1,087.01


1,115.73


Total expenses (IV)


67,392.89


50,116.73


49,572.62


V. Profit before share of profit/loss of associate 


17,083.35


12,951.76


9,226.52


and income tax (III - IV)


VI. Share in net profit/(loss) of associate


-


-


-


VII. Profit before tax (V - VI)


17,083.35


12,951.76


9,226.52


VIII. Tax expense:








Current tax


3,356.95


2,488.48


1,053.21


Prior period taxes/MAT credit


-177.66


-195.37


-


Deferred tax


287.01


210.16


26


IX. Net Profit for the period (VII - VIII)


13,617.05


10,448.49


8,147.31


X. Other comprehensive income


25.11


200.28


-330.52


XI. Total Comprehensive income for the period (IX + X)


13,642.16


10,648.77


7,816.79


XII. Earnings per equity share








Basic & Diluted (not annualized for quarters)


10.04


7.68


5.85


 


Consolidated Abridged Cash Flow Statement (Unaudited):








Rs. Lakhs


Net cash provided by/(used in):


H1 FY 22


FY 21


H1 FY 21


      Operating activities


37,308.22


56,101.69


19,339.40


      Investing activities


-1,546.19


-977.64


7.78


      Financing activities


-9,608.81


-16,767.36


-16,013.84


Net increase in cash and cash equivalents


26,153.22


38,356.69


3,333.34


Cash and cash equivalents at the beginning of the year 


58,414.15


20,057.47


20,057.47


Cash and cash equivalents at the end of the period 


84,567.37


58,414.16


23,390.81


 


Consolidated statement of assets and liabilities


ASSETS




Rs. Lakhs


Non-current assets


As at Sept 30, 2021


As at Mar 31, 2021 (Audited) 


(Unaudited)


Property, plant and equipment


3,170.21


2,966.56


Intangible assets


9,852.11


8,881.46


Intangible assets under development


1,232.23


638.67


Goodwill on Consolidation


13,455.69


13,455.69


Right-of-use assets


3,492.28


385.79


Other financial assets


728.39


627.09


Deferred tax assets


3,787.20


4,284.37


Other non-current assets


1,681.47


3,069.23


Total non-current assets


37,399.58


34,308.86


Current assets






Trade receivables


44,289.49


37,314.68


Cash and cash equivalents


79,573.80


53,710.97


Bank balances other than cash and cash equivalents


4,993.57


4,703.18


Loans and advances


353.92


343.55


 Other financial assets


33,502.88


25,646.05


Other current assets


5,492.04


5,233.46


Total current assets


1,68,205.70


1,26,951.89


TOTAL ASSETS


2,05,605.28


1,61,260.75








EQUITY AND LIABILITIES






Equity 






Equity share capital


1,353.31


1,360.36


Other equity


1,02,858.23


87,949.86


Total equity


1,04,211.54


89,310.22


Non-current liabilities






Lease liabilities


3,589.08


348.67


Other financial liabilities


34.6


45.35


Provisions


482.74


600.98


Other non-current liabilities


40.85


219.56


Total non-current liabilities


4,147.27


1,214.56


Current liabilities






Financial liabilities






Trade payables


69,500.58


50,619.82


Lease liabilities


178.68


86.24


Other financial liabilities


23,895.59


19,188.38


Other current liabilities


2,710.13


574.53


Provisions


122.88


96.41


Liabilities for current tax (net)


838.61


170.59


Total current liabilities


97,246.47


70,735.97


TOTAL EQUITY AND LIABILITIES


2,05,605.28


1,61,260.75


 


 


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