#Route Mobile Q3 2022 Concall Highlights
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Financial Update
1. Best quarterly revenue so far of ₹562.8Cr compared to ₹435.7Cr in Q2 FY22and ₹384.8Cr in Q3 FY21.
2. Y-o-Y growth of 46.2% and sequential growth of 29.2% in revenue.
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Financial Update
1. Best quarterly revenue so far of ₹562.8Cr compared to ₹435.7Cr in Q2 FY22and ₹384.8Cr in Q3 FY21.
2. Y-o-Y growth of 46.2% and sequential growth of 29.2% in revenue.
3. Gross Profit of ₹118.5Cr in Q3 FY21-22 compared to ₹92.3Cr in Q2 FY22.
4. Y-o-Y growth of 70.9% and sequential growth of 28.5% in Gross Profit.
5. Gross Profit margin expanded from 18.0% in Q3FY21 to 21.1% in Q3 FY22.
4. Y-o-Y growth of 70.9% and sequential growth of 28.5% in Gross Profit.
5. Gross Profit margin expanded from 18.0% in Q3FY21 to 21.1% in Q3 FY22.
6. Ebitda of ₹77.2Cr in Q3 FY22 compared to ₹61.7Cr in Q2 FY22 and ₹44.5Cr in Q3 FY21
7. Y-o-Y growth of 73.5% and sequential growth of 25.2% in Ebitda.
8. Ebitda Margins of 13.7% in Q3 FY22 compared to 14.2% in Q2 FY22.
7. Y-o-Y growth of 73.5% and sequential growth of 25.2% in Ebitda.
8. Ebitda Margins of 13.7% in Q3 FY22 compared to 14.2% in Q2 FY22.
9. Adjusted Profit After Tax of ₹596mn in Q3 FY21-22 compared to ₹454mn in Q2 FY22.
10. Adjusted Profit After Tax margin of 10.6% in Q3 FY22 compared to 10.4% in Q2 FY22.
10. Adjusted Profit After Tax margin of 10.6% in Q3 FY22 compared to 10.4% in Q2 FY22.
11. 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
12. Interim dividend of ₹3 per share approved by the Board of Directors.
Net cash as of 31st December 2021 is ₹1103.6 Cr.
Net cash as of 31st December 2021 is ₹1103.6 Cr.
Business Update
1. Company raised ₹ 867.5Cr through Qualified Institutional Placement (‘QIP’) in Nov’21 from several global marquee investors.
This QIP money will be utilized to accelerate organic & inorganic growth.
1. Company raised ₹ 867.5Cr through Qualified Institutional Placement (‘QIP’) in Nov’21 from several global marquee investors.
This QIP money will be utilized to accelerate organic & inorganic growth.
2. Company launched their Payment as a Service offering, which provides 360°seamless payment experience, multiple Payment gateways and integration with UPI.
3. Company was recognized as an ESG leader based on its strength in data privacy & security, community support & development, board independence and ethical business practices.
4. Company conducted a global API hackathon which had participation of more than 7000+ developers.
4. Company conducted a global API hackathon which had participation of more than 7000+ developers.
5. Company incurred a capex of 12Cr last quarter. Large part of Capex was towards a new call center facility that has been setup, 5-6Cr was used for that and the remaining was used for infrastructure upgradation.
6. Company completed the acquisition of 100% equity in Masivian S.A.S (“Masiv”), on November 11, 2021.Masiv’s differentiated cloud communication platform offerings for enterprises create a springboard for growth in Latin America
7. Total purchase consideration, including adjustments and earnout, of US $51.3mn (₹381.3Cr) ~63.16% paid upon closing while the second, third and fourth instalments, each equivalent to 12.28% will be paid upon completion of 12, 18 and 24 months from the date of closing.
8. Company also acquired a 49% equity stake and 90% economic and beneficial interest in Interteleco on 1st December 2021.
Total purchase consideration of KWD 652,500 (₹16.3Cr).
Total purchase consideration of KWD 652,500 (₹16.3Cr).
These acquisitions will enhance their operator relationships and help with their enterprise segment growth in both regions i.e Latin America and Kuwait.
9. Company has already set up sales offices in Mexico, Chile & Peru to capture the Latin America market.
9. Company has already set up sales offices in Mexico, Chile & Peru to capture the Latin America market.
10. Average realization from billable transactions decreased from 40 pesos in Q2FY22 to 35 pesos in Q3FY22 owing to lower average realization per billable transaction in masivian and lower email average realization.
11. Billable transactions increased from 8.82B in Q3FY21 and 10.86B in Q2 FY22 to 16.29B in Q3FY22. This includes a 3.31B billable transaction by Masivian & Interteleco.
12. Company added 250+ new customers in 9M period
12. Company added 250+ new customers in 9M period
13. Company onboarded 150+ new employees during the 9M period.
14. Attrition rate increased from 11% in FY21 to 20% in 9m FY22 on an annualized basis.
15. For 9M FY22, ESOP benefit expenses (non cash) were adjusted from EBITDA amounting to ₹9.3Cr.
14. Attrition rate increased from 11% in FY21 to 20% in 9m FY22 on an annualized basis.
15. For 9M FY22, ESOP benefit expenses (non cash) were adjusted from EBITDA amounting to ₹9.3Cr.
16. Masivian gross margins are 40% and there is room to grow.
17. Interteleco gross margins are around 20%.
18. Company’s organic growth QoQ was up 22% and had all time high growth. Indian business continues to grow.
17. Interteleco gross margins are around 20%.
18. Company’s organic growth QoQ was up 22% and had all time high growth. Indian business continues to grow.
Future Outlook
1. Company’s vision is to focus on the global market and the company will look for acquisitions with the idea of expansion.
2. Company expects Q4 FY22 to be good.
1. Company’s vision is to focus on the global market and the company will look for acquisitions with the idea of expansion.
2. Company expects Q4 FY22 to be good.
3. Company did 27.7Cr of revenue from their products and company believes that revenue from product can be 2x,3x in coming years.
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