Cambridge Technology announces 2015 calendar year and nine months FY16 results

 In 2016

120% YoY 2015 calendar year (Jan1 – Dec 31 2015) and 127% YoY increase in revenue in 9MFY16

Hyderabad, India, 03 February, 2016: Cambridge Technology (www.c7e.co) (NSE: CT) (BSE: 532801), an IT services leader focused on the convergence of big data and cloud, today announced its financial results for the quarter ended December 31, 2015.

Aashish Kalra took over as the Chairman of CT in January 2015. Under his leadership, CT has emerged as one of the leading names in the convergence of cloud and big data space with specialization in Artificial Intelligence (AI) and Machine Learning. The two-year business plan developed for FY16 and FY17 is under execution with a target of achieving $2 Mn in revenues per month by March 2017.

On Dec 31, 2015, CT completed one year since Aashish Kalra took over as the Chairman and the performance has been as follows:

Consolidated Financial Highlights for the Twelve Months Ending December 31, 2015:

CAMBRIDGE TECHNOLOGY FINANCIAL RESULTS
TWELVE MONTHS ENDING 31 DEC 2015 vs. TWELVE MONTHS ENDING 31 DEC 2014 – YoY (INR in Cr)
Particulars

31-Dec-15

31-Dec-14

Change in % (YoY)

Revenue

57.80

26.32

120%

EBITDA

12.60

1.13

1006%

Net Profit

7.93

0.11

6941%

EPS

4.04

0.05

6941%

Key Financial Highlights:

  • Nine months ending 31 Dec 2015 vs. Nine months ending 31 Dec 2014
    • Revenue: 127 percent increase
    • EBITDA: 599 percent increase
    • Net profits: 1344 percent increase

     

  • Quarter ending 31 Dec 2015 vs. Quarter ending 31 Dec 2014
    • Revenue: 165 percent increase
    • EBITDA: 426 percent increase
    • Net profits: 660 percent increase

CT has reinforced its US presence by opening offices in Atlanta and Boston; our offices now include Kansas, Louisville, Atlanta, Boston, Seattle, and Pittsburgh. CT also launched Cambridge Innovations (CI; www.c7e.io) in Q3FY16. CI was launched to partner with the most innovative new U.S. start-ups leveraging big data and cloud for transformative disruption.

With this innovative platform, CT aims to:

  • Generate revenue, from contracts and build future clients for CT from a pool of tomorrow’s leaders.
  • Attract and retain talent, gives our employees an advantage to work on innovative solutions.
  • Capture financial upside from equity.

CI aims to invest in 12 companies by March 2017 and has made 6 investments –RoadZen, Causemo, Authess, AntHill Ventures, PhotoKharma, and MyCrowd,.

Aashish Kalra, Chairman of Cambridge Technology said, “We started our journey on January 1, 2015 with a target to achieve $2 Mn a month in revenue and invest in 12 companies via CI by March ‘17. We have made progress towards our goals, however, we still have a long way to go. We are investing in recruiting and training the future leaders of CT and this will continue to impact our profitability till we achieve minimum scale. We believe Artificial Intelligence and Machine Learning will define new and redefine existing industries, thereby transforming data into a valuable knowledge asset and a catalyst for disruption.”

He further added, “Our focus is to achieve our goals through internal accruals and deliver sustainable shareholder value.”

Consolidated Financial Highlights for the nine months ending December 31, 2015:

CAMBRIDGE TECHNOLOGY FINANCIAL RESULTS
NINE MONTHS ENDING 31 DEC 2015 vs. NINE MONTHS ENDING 31 DEC 2014 – YoY (INR in Cr)
Particulars

31-Dec-15

31-Dec-14

Change in % (YoY)

Revenue

46.09

20.34

127%

EBITDA

8.77

1.25

599%

Net Profit

6.94

0.48

1344%

EPS

3.54

0.24

1344%

Consolidated Financial Highlights for the quarter ending December 31, 2015:

CAMBRIDGE TECHNOLOGY FINANCIAL RESULTS
QUARTER ENDING 31 DEC 2015 vs. QUARTER ENDING 31 DEC 2014 – YoY (INR in Cr)
Particulars

31-Dec-15

31-Dec-14

Change in % (YoY)

Revenue

16.65

6.29

165%

EBITDA

2.78

0.53

426%

Net Profit

2.94

0.38

660%

EPS

1.50

0.20

660%

Visit http://www.ctepl.com/pdfs/investors/Q3FY16_InvestorPresentation.pdf to access the CT Q3FY16 Investor Presentation.

Notes:

1. Branding

  • Our new logo reflects our vision and culture. 7 is geek for T in c7e
  • Cambridge Technology (www.c7e.co)
  • Cambridge Innovations (www.c7e.io)

2. New Investments

3. Deferred Tax Assets and Impairment of Goodwill

  • In compliance of Accounting Standard on Deferred Taxes, considering increased visibility of profits, the company has decided to recognize Deferred Tax Assets of INR 4.3 cr arising out of carry forward tax losses. Of the above INR 4.3 cr, INR 1.8 cr and INR 1.4 cr were recognized in second and third quarter respectively, with the balance to be recognized in the fourth quarter of the financial year 2015-16.
  • As on Mar 31, 2015 Goodwill stood at INR 9.7 cr and impairment of goodwill in Q3FY16 was INR 0.61 cr. The company is awaiting approval from the High Court for writing off this Goodwill against balance lying in securities premium account.

 
About Cambridge Technology :
Cambridge Technology (CT) is an IT services leader focused on the convergence of big data and cloud. Recognized as a thought leader and innovator of enterprise solutions, CT focuses on cloud application development and management, data warehousing, business intelligence (BI) and analytics on the cloud. Through designing and implementing enterprise IT strategies that leverage the cloud’s capabilities, CT’s end-to-end services enable its customers to harness the data available to them. Its expertise across domains makes CT a preferred choice for IT Strategy and Implementation to its customers. For more information, visit www.ctepl.com or follow @CTofficial on twitter.

 
About Cambridge Innovations:
For seed and growth-stage entrepreneurs seeking rapid growth, Cambridge Innovations provides capital and resources to reduce technology risk. Founded by experienced entrepreneurs, CI partners closely with entrepreneurs, reducing capital risk and accelerating the technology roadmap. With some of the world’s most experienced strategy and development teams, entrepreneurs gain more time to shape and sell their vision and get to a better Series A, faster. Learn more at www.c7e.io.

Media contact: Nilofar Nigar | nnigar@ctepl.com | +91-40-4023-4400 Ext: 499
Investor relations: Hanumant Bhansali |hbhansali@ctepl.com | +91-40-4023-4400

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