Atishay Limited Earnings Summary — Q4 FY2024
Atishay Limited Reports Revenue Recovery and Strengthening Profitability for FY2024
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 32.9% sequentially in Q1 FY2027.
- Revenue of ₹14 Cr is 10.8% higher year-on-year.
- Revenue has compounded at -10.8% annualised over the last 10 quarters.
- Net profit of ₹0 Cr is 92.7% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -74.2% annualised across the period.
- Operating margin stands at 3.7% in Q1 FY2027.
- Operating margin compressed by 1278 bps year-on-year.
- Over the last two years operating margin has contracted by 1269 bps.
- PBT margin is 1.2%.
- Expenses grew 27.8% against revenue growth of 10.8%.
- Operating profit of ₹1 Cr is 75.1% lower year-on-year.
- Operating leverage has been under pressure recently.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 30/100 (Weak) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 14 | 10 | 15 | 18 | 12 | 13 | 15 | 13 | 10 | 17 |
| Expenses | Improving | 13 | 7 | 13 | 15 | 10 | 10 | 12 | 11 | 8 | 14 |
| Operating Profit | Softening | 1 | 3 | 3 | 3 | 2 | 3 | 3 | 2 | 2 | 3 |
| Operating Margin | Softening | 3.7% | 26.6% | 16.8% | 14.4% | 16.5% | 23.0% | 19.1% | 15.9% | 16.4% | 19.2% |
| Other Income | Softening | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 0 | 1 |
| Interest | Volatile | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | Stable | 1 | 1 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 |
| Profit Before Tax | Declining | 0 | 2 | 3 | 2 | 2 | 3 | 3 | 2 | 2 | 3 |
| Tax | Declining | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Net Profit | Declining | 0 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 3 |
| Net Margin | Softening | 0.9% | 17.4% | 12.2% | 10.2% | 13.5% | 18.4% | 13.9% | 11.2% | 10.7% | 14.5% |
Key Takeaways
- Atishay Limited demonstrated a significant revenue recovery in FY24, growing 27% compared to the previous fiscal year.
- The company maintains a strong balance sheet with very low debt levels, enhancing financial stability.
- Operating margins have shown resilience, currently tracking at approximately 17% despite sector competition.
- The firm continues to face challenges with high receivables (DSO > 150 days), primarily due to its government-facing business model.
- Promoter holding has seen a continuous reduction, which remains a key concern for minority shareholders.
- Efforts are ongoing to pivot toward a B2C retail model via Atishay Money to reduce reliance on government tenders.
Management Guidance
Management remains focused on the execution of tender-based e-governance projects while attempting to scale their digital financial inclusion services in rural areas. Visibility into future earnings remains limited by the project-based nature of the business.
Sentiment Shift
Improving
While historical volatility remains a concern, the sharp 160% improvement in PAT for the fiscal year and the return of dividend payouts suggest a stabilizing operational environment.
Outlook
The outlook is cautiously positive as the company recovers from prior-year slumps, though long-term scalability depends on successfully diversifying away from low-margin, high-receivable government contracts.
From the Annual Report (Key Quotes)
“The business quality is characterized by thin margins and a lack of scalable operating leverage despite being in the IT services sector.”
“Alignment with minority shareholders appears neutral as the promoter holding remains stable, though transparency lacks depth expected by institutional standards.”
“Significant portion of assets being tied up in receivables is typical of government-facing entities.”
Official Quarterly Documents
This summary is AI-generated from Atishay Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.