Highest ever quarterly growth of 29.2% for route mobile | Q3 FY22 Conference Call Highlights

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  • Revenue from operations of ₹562.8 Cr compared to ₹435. 7 Cr in Q2 FY21 corresponding to Y-o-Y growth of 46.2% and sequential growth of 29.2% in revenue.
  • EBITDA of ₹77.2 Cr in Q3 FY21-22 corresponding to Y-o-Y growth of 73.5% and sequential growth of 25.2% in EBITDA. EBITDA margin of 13.7%, 14.2% and 11.6% in Q3 FY21-22, Q2 FY21-22 and Q3 FY20-21 respectively. EBITDA margin declined sequentially owing to increase in sales & marketing cost and hiring of developers related to Rapid initiative
  • Recorded Profit After Tax of ₹48.3 Cr in Q3 FY21-22 corresponding to Y-o-Y growth of 28.3% and sequential growth of 14.8% in Profit After Tax
  • Adjusted Profit After Tax of ₹59.6 Cr in Q3 FY21-22. Adjusted for ESOP benefit expenses (net of tax) and non-cash amortization associated with the intangible assets added as a result of purchase price allocation for acquisitions. Adjusted Profit After Tax margin of 10.6%, 10.4% and 10.9% in Q3 FY21-22, Q2 FY21-22 and Q3 FY20-21 respectively.
  • India leads in terms of revenue contribution from top 50 countries by termination (51%) while Americas (5%) and Europe (4%).
  • Top client contributes 12% in the 9M period of FY22 whereas it contributed 15% in FY-21. No of million- dollar client has also has shown an increase from 31 in FY21 to 37 in the 9M period of FY22.
  • 125% Net revenue retention– Deep Customer engagement driving high recurring revenues
  • Robust growth momentum 32% Y-o-Y growth in 9M FY21-22 31% CAGR over past 5 years (FY15-16 to FY20-21).
  • Improving unit economics: Higher revenue per transaction (excluding email)- Rs 0.466 in 9M FY22 as compared to Rs 0.435 in FY-21.
  • Quarterly new product sales is Rs 27.7 Cr as compared to Rs 16.6 Cr in Q2FY22.
  • 9M Attrition is 20% on an annualised basis.  
  • Raised ₹ 867.5 Cr through Qualified Institutional Placement (‘QIP’) in Nov’21. Several global marquee investors were onboarded. The money will be Deployed towards organic & inorganic initiatives
  • Launched payment as a service: a.)3600 seamless payment experience. b.) Multiple Payment gateways supported. c.) Integration with UPI.
  • Rapid developer programme: Participation of 7,250+ developers across 100+ Geographies, 100+ Countries and 45+ Innovative Prototypes using SMS, Email, RBM (RCS- Rich Communication Services Business Messaging), WhatsApp, Voice APIs.
  • Expansion of Geographical Footprint through acquisitions in Latin America (LATAM) and Kuwait. Masiv is Latin America based while Inter telco is Kuwait based. Masiv’s differentiated cloud communication platform offerings for enterprises create a springboard for growth in Latin America. Masiv Gross margin is 40% while for Inter telco is 20%.
  • Guidance: Can grow at 2-3x in the next 2 years.

Disclaimer: The information here is provided for reference purposes only and should not be misconstrued as investment advice. Under no circumstances does this information represent a recommendation to buy or sell stocks or MF.

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