Mumbai, 13th November 2024: Orient Technologies Ltd. is a leading IT provider specializing in innovative cloud and data management solutions for enterprises sector in India, has announced its financial results for the second quarter & half year ended September 30th, 2024.

Highlights of Financial Performance Q2 FY25

• The Total Income stood at Rs. 225.07 Crore in Q2 FY25 as against Rs. 149.31 crore in Q1 FY25 showcased a growth of 50.74%.
• Revenues from operations for the quarter ended September 30th, 2024 stood at Rs. 223.14 Crore as compared to Rs. 148.85 crore in Q1 FY25 showcased a growth of 49.92%
• The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 20.72 crore in Q2 FY25, as against Rs 13.65 Crore in Q1 FY25 showcased a growth of 51.76%. The Company’s EBITDA margin stood at 9.21%
• Profit Before Tax (PBT) stood at Rs. 19.41 Crore for Q2 FY25 as compared to Rs 12.49 Crore in Q1 FY25 showcased a growth of 55.47%. The Company’s PBT margin stood at 8.62%
• Profit After Tax (PAT) reported stood Rs. 15.06 Crore in Q2 FY25 as against Rs. 9.28 Crore in Q1 FY25 showcased a growth of 62.20%. The Company’s PAT margin stood at 6.69%
• Earnings per share (EPS) for Q2 FY25 for the stood at Rs. 4.15 as against Rs. 2.59 in Q1FY25 showcased a growth of 60.25%.

Highlights of Financial Performance H1 FY25

• The Total Income stood at Rs. 374.38 Crore in H1 FY25 as against Rs. 268.17 crore in H1 FY24 showcased a growth of 39.61%.
• Revenues from operations for the six months ended September 30th, 2024 stood at Rs. 371.99 Crore as compared to Rs. 266.31 crore in H1 FY24 showcased a growth of 39.68%
• The Earnings before Interest, Tax, Depreciation and Amortization (Core EBITDA) stands Rs. 34.37 crore in H1 FY25, as against Rs 24.65 Crore in H1 FY24 showcased a growth of 39.42%. The Company’s EBITDA margin stood at 9.18%
• Profit Before Tax (PBT) stood at Rs. 31.90 Crore for H1 FY25 as compared to Rs 21.77 Crore in H1 FY24 showcased a growth of 46.54%. The Company’s PBT margin stood at 8.52%
• Profit After Tax (PAT) reported stood Rs. 24.43 Crore in H1 FY25 as against Rs. 16.45 Crore in H1 FY24 showcased a growth of 48.48%. The Company’s PAT margin stood at 6.53%
• Earnings per share (EPS) for H1 FY25 for the stood at Rs. 6.70 as against Rs. 4.68 in H1FY24 showcased a growth of 43.07%.

Segmental Revenue:

The contribution to revenue from operations for each vertical stands as follows:

• Mid Market* : 53.89%
• BSFI: 19.62%
• IteS: 9.17%
• Govt & PSU: 8.15%
• Communication: 6.36%
• Healthcare and Pharma: 2.01%
• Manufacturing: 0.80%

Mid-Market includes infrastructure, real estate, logistics, education, e-commerce, conglomerates, energy and service industries etc.

New Milestones and Business Expansion for Orient Technologies

Orient Technologies has reached several significant milestones recently, marking its continued growth and expansion in the cloud services domain. Some of the key developments include:

1. Client Growth and Increased Revenue:
   Coal India: Existing client Coal India has added two subsidiaries, further increasing the demand for cloud services and contributing to a growth in Orient’s cloud services revenue.
2. Multiyear Contracts with Leading Institutions:
   SIDBI (Small Industries Development Bank of India): Orient Technologies successfully migrated SIDBI’s GST and Prayaas applications to the cloud, implementing a comprehensive Disaster Recovery (DR) solution as part of the migration process.
   NEML (National E-Markets Limited): Orient managed the migration of NEML’s workloads to AWS under its managed framework, enhancing NEML’s digital capabilities on the cloud.
   BECIL (Broadcast Engineering Consultants India Limited): Working under the Ministry of Broadcasting, Orient has further reinforced its credibility in public sector digital transformation initiatives.
3. Strategic Empanelment with PSB Alliance:
   Orient Technologies has been selected and empanelled by PSB Alliance to provide cloud services, marking a critical milestone in expanding its footprint in the public sector banking domain. The PSB Alliance is an umbrella body representing 12 public sector banks and focuses on providing end-to-end technology-enabled banking services.
   This empanelment allows public sector banks to seamlessly adopt AWS cloud solutions without needing separate procurement processes. Through PSBA’s Community Cloud Services, AWS and its Managed Service Providers, like Orient Technologies, will help the banks implement secure and efficient cloud services. This also supports the Government of India’s EASE (Enhanced Access and Service Excellence) agenda, driving digital innovation in the financial ecosystem.

Strategic Multiyear Technology Services Deals for Orient Technologies

Orient Technologies has secured several strategic multiyear technology services deals with prominent companies, further solidifying its position as a leader in the industry. These long-term partnerships, spanning diverse sectors such as finance, healthcare, energy, public sector, and manufacturing, will enhance Orient’s service offerings and drive sustainable revenue growth. Through these collaborations, Orient aims to co-create innovative solutions leveraging cloud computing, data analytics, AI, and automation, empowering clients to achieve scalability, security, and operational excellence while reinforcing Orient’s commitment to business transformation and technological innovation.

Commenting on the results Mr. Ajay Sawant, Chairman & Managing Director said:

We are delighted to report another quarter of exceptional performance, as Orient Technologies continues to deliver remarkable growth and operational strength. Our revenue and profitability have risen significantly, a testament to the power of our strategic vision and the cohesive efforts of our teams across all business units. Every member of the Orient family has contributed to this achievement, embodying our values of resilience, innovation, and collaboration.

As we move into Q3, we have a robust pipeline in place, filled with high-potential opportunities that we are excited to bring to fruition. With a stable market environment, Orient is well-positioned to accelerate its momentum and pursue ambitious growth objectives. We remain committed to pushing boundaries, unlocking new possibilities for our clients, and driving sustained value for our stakeholders.