ALL INDIA– Ceinsys Tech Ltd. (BSE: 538734) reported a significant increase in revenue and profit for the second quarter (Q2) and first half (H1) of the financial year 2024-25, ending September 30, 2024.
For Q2-FY25, Ceinsys Tech recorded revenue of INR 900 million, a 54% year-on-year (YoY) increase. The company’s EBITDA for the quarter rose to INR 168 million, a 71% YoY growth, with an EBITDA margin of 18.67%. Net profit (PAT) for Q2 stood at INR 117 million, a 149% increase YoY.
For H1-FY25, the company posted revenue of INR 1,639 million, marking a 46% YoY increase. EBITDA for the period was INR 300 million, a 42% rise YoY, while PAT reached INR 236 million, up 82% YoY. The EBITDA margin for H1 was 18.30%, a decline of 52 basis points from the previous year.
The company’s total order book surpassed INR 1,000 crore, reaching INR 12,100 million as of September 30, 2024. Geospatial and engineering services made up 76% of the order book, while 24% came from technology solutions.
In Q2-FY25, Ceinsys Tech improved its working capital cycle, which decreased to 108 days as of September 30, 2024, from 190 days on March 31, 2024. The company’s cash surplus at the end of Q2 stood at INR 1,719 million, with INR 684 million in net operational cash surplus.
The company raised INR 2,350 million through fresh equity and share warrants in Q2-FY25 to fund growth initiatives. Ceinsys Tech also made investments in the US, acquiring assets from a geospatial company in the telecom sector, and has started expanding its data center capabilities.
Notable contracts secured during the quarter include:
An INR 2,060 million IoT-based project with Maharashtra State Water and Sanitation Mission (SWSM)
A INR 600 million digital project monitoring system with Maharashtra SWSM
An extension of an INR 1,960 million third-party inspection (TPI) project with Uttar Pradesh SWSM
