BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Newgen Software Technologies Ltd. has reported robust revenue growth of ~16% YoY in Q4 FY22 backed by strong performance in the Europe, Middle East, Africa (up 41% YoY).
For the full year, revenue was Rs 7,790 million, growing 15.8% over FY21. Overall annuity revenue (~59% of revenue) grew 18% YoY. It reported an impressive 16 new logo wins during the quarter.
Newgen continues to invest aggressively across research and development and sales and marketing with expenses aggregating ~30% of revenue in FY22.
Management commentary hinted at robust demand environment and increasing order backlog for FY23.
Given that typical projects are shorter and smaller, building new client relationships is key for companies like Newgen, which is inherently dependent on travel opening up.
With travel resuming, we believe Newgen should be the key beneficiary, and client additions in FY23 would be key to watch out.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR