Dolat Capital: Nucleus Software Exports’ Strong Order Win Drive Q2 Revenue Performance
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Dolat Capital Report
Nucleus Software Exports Ltd.’s revenues stood at Rs 1.37 billion up 7% QoQ ahead of our estimates of 4.5% QoQ growth.
Performance was led by sustained demand traction across markets (primarily in India) and is evident from sequential growth in product segment order book by 9.5% QoQ at Rs 4.4 billion, (up 6% on YoY basis).
Ebit margin declined 430 basis points QoQ at 22% (our estimate 25.2%) as company made provision towards potential special bonus payout to employees in H2 amounting Rs 150 million, which may get pay-out in Q3 or Q4 and may also add up to this kitty based on market situation.
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