Sigma Solve Limited has informed the Exchange about Investor Presentation
Date: 17th August, 2023
To,
National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex Bandra (E), Mumbai- 400 051, Maharashtra, INDIA
BSE Limited Phiroze Jeejeebhoy Towers Dalal Streel Mumbai-400 001 Maharashtra, INDIA
Symbol: SIGMA
Scrip Code: 543917
Subject:- Investor/Analyst Presentation For Q1 FY 2023-24
Dear Sir/ Ma’am,
Pursuant to Regulations 30 and other relevant regulations of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith a copy of Investor Presentation that will be shared with the analyst/investors.
The same shall be uploaded on our website www.sigmasolve.in.
Kindly take note of the same and update on record of the Company accordingly.
Thanking you. Yours faithfully, FOR, SIGMA SOLVE LIMITED
Prakash R Parikh Managing Director DIN: 03019773
Encl.:- A/a
+91 9898095243 079 29708387
www.sigmasolve.in CIN: L72200GJ2010PLC060478
801-803, PV Enclave, ICICI Bank Lane Road Sindhubhavan Road, Ahmedabad - 380054
1
Q1FY24
I N V E S T O R P R E S E N T A T I O N
© S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N © S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N
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2
S I G M A S O L V E L T D Q 1 F Y 2 4
Disclaimer
This presentation and the accompanying
forward-looking statements that involve a
This Presentation has been prepared by the
slides
(the
“Presentation”),
have
been
number of risks and uncertainties that could
Company based on information and data
prepared by Sigma Solve Limited (the
cause actual results to differ materially from
which the Company considers reliable. This
“Company”) solely for information purposes
those in such forward-looking statements.
Presentation may not be all-inclusive and
and
do
not
constitute
any
offer,
The Risk and uncertainties relating to the
may not contain all of the information that
recommendation, or invitation to purchase or
statements include but are not limited to,
you may consider material. Any liability in
subscribe to any securities and shall not form
risks and uncertainties regarding fiscal policy,
respect of the contents of, or any omission
the basis or be relied on in connection with
competition,
inflationary
pressures,
and
from, this Presentation is expressly excluded.
any
contract
or
binding
commitment
general
economic
conditions
affecting
The Company does not make any promise to
whatsoever. No offering of securities of the
demand/supply and price conditions
in
update/provide such a presentation along
Company will be made except by means of a
domestic and international markets. The
with results to be declared in the coming
statutory
offering
document
containing
Company does not undertake to update any
quarters and years.
detailed information about the Company.
forward-looking statement that may be made
Certain statements
in this presentation
concerning our future growth prospects are
from time to time by or on behalf of the
Company.
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Table of Contents
01. Business Overview
02. Q1FY24 Highlights
03. Investment Thesis
04. Appendix
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B u s i n e s s O v e r v i e w
S I G M A S O L V E L T D
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Hello, Welcome to the future
Reinventing Businesses Through AI and Innovative Digital Solutions
Ranked # 2021 Inc 5000 America’s fastest growing 5000 companies
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D I G I T A L I N N O V A T I O N
6
• Digital Transformation • AI, RPA & ML Services • Generative AI • Data Analytics Services • Cloud & DevOps • Custom Software Dev
200+ Developers
Enterprise Digital Solutions
1000+ Projects
450+ Clients
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Business Overview
Sigma Solve Inc stands at the forefront of AI and Digital
transformation companies, swiftly advancing in the
competitive landscape of America.
1 5 + y e a r s o f e x p e r i e n c e i n
d i g i t a l i n n o v a t i o n
I m p l e m e n t i n g t r e n d i n g
t e c h n o l o g i e s f o r t h e f u t u r e
C r e a t i v e e x p e r t i s e , r o b u s t
s t r a t e g y , c o m p r e h e n s i v e
s e r v i c e r a n g e
S t r o n g c l i e n t b o n d s ,
9 0 % r e t e n t i o n r a t e
T e c h n o l o g y D r i v e n ,
E n t r e p r e n e u r i a l C u l t u r e
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S I G M A S O L V E L T D
Our Vision
Delivering innovative, comprehensive, and budget-friendly
digital solutions to clients worldwide, harnessing the power of
technology to establish a global impact in the digital landscape.
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S I G M A S O L V E L T D
Our Mission
Our guiding philosophy revolves around assisting our clients in staying ahead of
the curve amidst the fast-paced world, ensuring their growth and success by
embracing forward-looking technologies and services.
M i s s i o n # 0 1
Our mission is to deliver on the potential of
technology and human creativity, helping our
clients be the best versions of themselves.
M i s s i o n # 0 2
To take ownership of technology-driven
projects by providing solutions, through
technical excellence and consultancy.
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Value Proposition
Reliable innovation, trusted growth partnerships. Delivering on promises for cutting-edge success.
9
We embody the spirit of reinvention, fueling
With a relentless pursuit of innovation, we provide
We are committed to upholding our credibility,
business transformation through our innovative
our clients with cutting-edge technologies and
delivering on our promises, and fostering trusted
solutions and exceptional brainpower.
services that propel their growth and success.
partnerships.
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Over a Decade of Experience
Prepared to join the industry's leaders, making a significant impact and embracing success on a grand scale.
2 0 1 0
2 0 1 4
2 0 1 8
2 0 2 0
2 0 2 2
2 0 2 3
Initial partnerships
Microsoft .NET
Listed on the
Reached milestone of
Got Listed on NSE &
Incorporated as
Sigma Solve Limited
with 2 employees
with 3Dcard
Silver Partnership
(now Shift4Shop) -
150+ employees
in USA & India
Onshore Operations &
HQ Sunrise Florida
National Stock
Exchange –
SME platform
200+ trained
BSE main board in the
Software consultants
month of June
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Q1FY24 Bus iness Highlight s
S I G M A S O L V E L T D
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S I G M A S O L V E L T D
Management Commentary
“I am delighted to share that we have delivered strong
YoY. PAT Margins for the quarter stood at 33%.
results in Q1FY24. During the quarter, we successfully
secured key deals and ventured into proprietary product
development, particularly within the Logistics and Supply
Chain sector, resulting in the addition of three new
clients. This has highlighted our ability in addressing
market opportunities as well as deliver
innovative
solutions. We also sold Robotic Process Automation
(RPA) as well as partnered with a few wine companies to
develop a product off of Chat GPT.
I am also thrilled to announce that we have achieved
#2021 ranking in the Inc 5000 Americas Fastest Growing
Private Companies, highlighting our dedication to growth
and innovation. Our ongoing group simplification
initiative
is
approaching
its
conclusion,
further
streamlining our operations for enhanced efficiency. As
we look ahead, we remain steadfast in our vision to
become about $30 million revenue company by next 2-3
years, driven by our unwavering commitment
to
Financially, our continued efforts towards
revenue
innovation, diversification, and exceptional stakeholder
diversification as well as scaling our operations has
value.”
resulted in the growth of our revenue in Q1FY24 by 36%
M r . P r a k a s h P a r i k h M a n a g i n g D i r e c t o r
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Q1FY24 Business Highlights
13
F i n a n c i a l P e r f o r m a n c e
E x p a n s i o n P l a n s
G r o w t h D r i v e r s
• Revenue from Operations increased by
36% over same period last year
• Established a new state-of-the-art office with 200+ capacity in Ahmedabad, India
• Engaging in talks with Oracle for
technological partnerships.
• EBITDA was up 111% year on year
• EBITDA margins stood at 43% for the
quarter
• Profit After Tax saw a rise of 111% as
compared to the previous year because of deal wins as well as diversification of revenue.
• Focusing on expanding in Atlanta and
Florida regions through lead generation
• Utilizing RPAs for process automation to
pursue upsell opportunities.
• Planning to set up a developer’s team in
Colombia and Brazil to take the time zone benefit for US based clients
• Recruited key marketing professionals to boost lead generation in different regions.
•
In last phase of Group Simplification with Sigma Solve Inc.
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S I G M A S O L V E L T D
Q1FY24 Financial Snapshot
180
160
140
120
100
80
60
40
20
0
120
28%
21%
33
25
57%
136
78
27%
38
163
43%
33%
70
54
60%
50%
40%
30%
20%
10%
0%
Q1FY23
Q4FY23
Q1FY24
Revenue from Operations
EBITDA
PAT
EBITDA Margins
PAT Margins
Consolidate Financials - ₹ in Millions
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Well Diversified Revenue Stream
S I G M A S O L V E L T D
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R E V E N U E A S P E R S E R V I C E S
R E V E N U E A S P E R G E O G R A P H I E S
5%
20%
10%
5%
5%
5%
30%
Cloud Solutions
Design Ui-Ux
Mobile Application
Automation
20%
Ecommerce
Logistics Solutions
Digital Marketing
Full Stack
Development
5%
5%
5%
5%
US
Canada
UK
Australia
Middle East
80%
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Operational Matrix
16
TOTAL EMPLOYEES (NOS.)
EMPLOYEES ATTRITION (%)
122
131
156
5%
2%
2%
34
37
24
Q1FY23
Q4FY23
Q1FY23-24
Sales & Support Team
Development Team
Q1FY23
Q4FY23
Q1FY23-24
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Key Deal Wins In Q1FY24
17
Logistics CRM
Robotic Process Automation
Generative AI /ChatGPT
Sigma Solve, Inc created their own product
Sigma Solve Inc provided Robotic Process
Sigma Solve Inc has collaborated with several
for the Logistics and Supply Chain companies
Automation services to 3 clients
wine companies to develop a ChatGPT-based
and enrolled 3 new clients.
product, enhancing the wine buying
experience for consumers.
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Consolidated Financial Statement Highlights Q1FY24 v/s Q1FY23
Revenue from operations grew by 36% YoY from Rs. 119.8 million in Q1FY23 to Rs. 162.9 million in Q1FY24 mainly due to revenue diversification as well as increase in scale of operations
EBITDA increased by 111% YoY to Rs. 69.7 million in Q1FY24
PBT for the quarter stood at Rs.68.3 million
PAT Margins for the quarter stood at 33% as compared to 21% in Q1FY23.
Particulars (₹ Mn)
Revenue from Operations
Other Income
Total Revenue
Total Expenses excluding Depreciation, Amortization & Finance Cost
EBITDA
EBITDA Margin (%)
Depreciation & Amortization
Finance Cost
PBT before Exceptional Item
Exceptional Items
PBT
Tax
PAT
PAT Margin %
Other comprehensive profit / loss
Total Comprehensive Income
Diluted EPS (Restated)
Q1 FY24
Q1 FY23
YoY%
Q4 FY23
18
162.9
11.9
174.8
105.2
69.7
43%
1.2
0.1
68.3
---
68.3
14.8
53.5
33%
0.8
54.3
3.5
119.8
-6.8
113.0
79.9
33.1
28%
0.8
0.0
32.2
---
32.2
6.9
25.3
21%
16.2
41.5
2.5
36%
---
55%
32%
111%
1510 bps
49%
---
112%
---
112%
114%
111%
1173 bps
-95%
31%
39%
136.4
15.7
152.1
74.5
77.6
57%
2.6
0.1
74.9
---
74.9
37.4
37.5
27%
-12.7
24.8
1.5
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Investment Thesis
S I G M A S O L V E L T D
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01. Technocrat Leadership
02. Dedicated Workforce
03. Global Tie-ups & Marquee Clients
04. Simplification of Group Structure
05. Strong Financial Growth Trajectory
06. Deep Service Expertise
07. Customized Delivery Model
08. Well Diversified Revenue Streams
09. Well Established Global Footprints
S I G M A S O L V E L T D
Investment Thesis
10. Healthy Project Pipeline
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Leadership
21
P r e r a k P a r i k h C O - F O U N D E R
B i r e n Z a v e r c h a n d C O - F O U N D E R
K e n t N e l s o n V P S A L E S
C h i n m a y S h a h C F O
B h a v i n S a n g h a n i V P D E L I V E R Y
A l p e s h S a r v a i y a V P E N G I N E E R I N G
J o y C h a u h a n V P O P E R A T I O N S
A j a y S h u k l a V P M A R K E T I N G
N e h a l S h a h P r e - s a l e s M a n a g e r
C a v i n G a j j a r D B M a n a g e r
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Hybrid Model Delivery by Tech-Driven Employees
• The company excels with a dynamic team of
200+ professionals.
• It utilizes a hybrid model for effective communication and cost-efficiency • The onshore team resolves client issues
promptly
• The offshore team brings innovative problem-
solving ideas.
• Sales operate in the USA, operational team is
in India
No. of Employees (Approx) & Employee cost as % of Revenues
37%
36%
33%
148
155
200
FY21
FY22
FY23
250
200
150
100
50
0
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38%
37%
36%
35%
34%
33%
32%
31%
30%
Global Tie-ups & Diversified Client Base
S I G M A S O L V E L T D
T E C H N O L O G Y P A R T N E R S
M A R Q U E E C L I E N T S
S E R V I C I N G H I G H G R O W T H S E C T O R S
23
• Real Estate • Healthcare • Energy & Utilities • Fintech & Insurance • Manufacturing • Retail & eCommerce • Travel & Hospitality • Logistics & Supply Chain • Education & E-Learning • Media & Entertainment • Oil & Gas • Taxation
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Simplification of Group Structure
S I G M A S O L V E L T D
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C U R R E N T G R O U P S T R U C T U R E
SIGMA SOLVE LIMITED
~ 59.81% STAKE
SIGMA SOLVE INC
Sigma Solve Inc. is a subsidiary of Sigma
Solve Limited which is based out of the
USA. It acts as an ambassador to
Sigma Solve Ltd in USA.
F U T U R E G R O U P S T R U C T U R E
Steps
In order to unlock the full potential, Management is focused to simplify the Group Structure of Sigma Solve Ltd by acquiring the remaining 40.19% stake.
S I G M A S O L V E L I M I T E D
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Deep Service Expertise
25
Custom Software Development Advanced knowledge of web application development
Mobile App Development Multi-interface mobile app development using native coding
Cloud Solutions Managed Cloud for Azure capabilities
eCommerce Development End to end solutions for implementing eCommerce strategy
Enterprise, ERP & CRM Solutions Solutions span from eCommerce CRM, CMS, Mobility & custom application
Digital Marketing Services end-to-end digital marketing services
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Technology Platforms Expertise
26
FRONTEND
MOBILE
BACKEND
React.js Angular.js
Vue.js Bootstrap
Kotlin
Swift
Flutter
React Native
.Net
Java
Python
PHP
Node
CLOUD COMPUTING/DEVOPS
ECOMMERCE
MARKETING 360 & ANALYTICS
AWS
Azure
Docker Kubernetes
Magento
Shopify Shift4shop
nopCommerce
Tableau
Salesforce Power Bi
AI/ ML & AR/ VR
API Integration
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Engagement Models
O n s i t e
Resource on-demand
Repetitive scope
27
H y b r i d & P a r t n e r s h i p
Global development centres
Hybrid / multi-shore resources
Agile team
O f f s h o r e
Fixed cost / hourly projects
Continues communication
Cost advantage
D e d i c a t e d T e a m
Long term project / product development
Extended development team
Scale up/down as needed
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T i m e & M a t e r i a l
Best for open & agile scope
Flexibility to modify requirement
Multi-phase projects
Well Established Global Footprints
S I G M A S O L V E L T D
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Florida USA
Atlanta USA
The Netherlands
India
Australia
1560 Sawgrass Corporate Parkway, Sunrise, Florida 33323
3350 Riverwood Parkway Atlanta GA, 30339
The Netherlands, Amsterdam, 1069 GA
801, PV Enclave, Sindhu Bhavan Road, Ahmedabad - 380054
Suite 3, 1330 Ferntree Gully Road, Scoresby Victoria, 3179
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Healthy Project Pipeline
Company is witnessing a very strong project pipeline and expects this trend to continue for years to come
29
Services (No. of Projects)
2022(A)
2023(A)
2025(E)
2027(E)
Mobile Solution
Digital Marketing Services
Cloud Solution
Web & E-Commerce Development
Application Development
Enterprise Solution
Design, Automation Testing & Quality Assurance
30
6
6
60
35
9
30
35
8
8
75
43
11
38
49
10
10
99
58
15
49
76
15
15
152
88
23
76
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Growth Plans For FY24 and Beyond
Strong order book, strategic acquisitions, successful
client partnerships, and operational efficiency.
30
Achieve operational efficiencies and higher revenue charge-out rates
Continue successful client acquisitions in various technologies,
Strategic acquisitions to drive growth and profitability through global partnerships
Maintain a strong order book averaging $550-600k providing healthy revenue visibility for the next 3-4 months
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Appendi x
S I G M A S O L V E L T D
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Industry Opportunities - Impetus for Growth
The Future is Cloud • Businesses across the globe have been migrating to Cloud Services • The growth in cloud adoption is anticipated to be robust due to its ability to facilitate the adoption of emerging technologies like Augmented Reality (AR) and Blockchain. • Cloud transformation is expected to have a longer and stronger cycle as enterprises are still in the early stages, with only 30% of workloads migrated to the cloud.
Mobile Apps bringing tremendous change to lifestyles • Mobile Applications are changing the way of doing business. • Factors such as the expanding consumer base in the e-commerce industry and the widespread adoption of smartphones contribute to the growth of the mobile
application market.
• The market's growth is driven by the continued expansion of enterprise applications,
increased focus on health and fitness apps, thriving e-commerce, and the high demand
for gaming apps with substantial downloads and in-app purchases.
SSL is poised for these growth opportunities
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CLOUD PENETRATION REMAINS BELOW 30% IN CRUCIAL VERTICLES
25
20
20
8
28
28
20
19
20
20
20
20
20
25
25
23
25
23
22
20
5
8
16
5
SaaS(%)
PaaS(%)
IaaS(%)
Enterprise Pvt
Dedicated
On-Demand
Cloud (%)
Hosted Pvt
Hosted Pvt
Cloud (%)
Cloud (%)
Banking
Retail
Transportation
Process Manufacturing
MOBILE APPLICATION MARKET SIZE (US$ BN)
725
603.08
501.66
417.3
347.12
288.75
240.19
199.8
138.25
166.25
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
W W W . S I G M A S O L V E . C O M
S I G M A S O L V E L T D
Unfolding the Growth Story
Record High Performance; Approval to Migrate Equity to NSE & BSE
33
A p p r o v a l f r o m N S E & B S E
D e a l W i n s
• Received In-principal Approval from NSE and BSE
o 20% more deals won than in 2022
for migration of equity shares from NSE Emerge
platform to Mainboard of NSE and BSE
R e c o r d F Y 2 3 R e v e n u e P e r f o r m a n c e
S t r o n g C a s h P o s i t i o n
• Revenue at Rs. 555 Mn; up 35%
• Revenue 3 Year CAGR = 74%
• Cash & cash equivalents for FY23 = Rs. 225.87 Mn;
up 91% from FY22
S k y r o c k e t i n g F Y 2 3 P r o f i t s
• EBITDA & PAT = Rs. 224Mn & Rs. 153Mn resp.
• EBITDA 3 Year CAGR = 129% & PAT 3 Year CAGR = 99%
© S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N
W W W . S I G M A S O L V E . C O M
S I G M A S O L V E L T D
34
Note - All figures in Rs. Mn
Strong Financial Growth Trajectory
Revenue from Operations
EBITDA & EBITDA Margin (%)
PAT & PAT Margin (%)
3 Year CAGR = 74%
554
411
37%
224
40%
34%
25%
142
153
28%
212
104
20%
35%
150
73
19
18%
19
52
FY20
FY21
FY22
FY23
FY20
FY21
FY22
FY23
FY20
FY21
FY22
FY23
Net Cash from Operations
197
164
36%
ROCE (%)
47%
43%
ROE (%)
42%
27%
30%
53
4
FY20
FY21
FY22
FY23
FY21
FY22
FY23
FY21
FY22
FY23
© S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N
W W W . S I G M A S O L V E . C O M
S I G M A S O L V E L T D
Consolidated Income Statement
Revenue from operations grew by 35% from ₹410.92 Mn in FY22 to ₹554.46 Mn in FY23 mainly due to an increase in the scale of operations and robust demand for the services provided by SSL.
EBITDA grew by 49% from ₹150.13 Mn in FY22 to ₹223.85 Mn in FY23 and EBITDA Margins increased from 37% in FY22 to 40% in FY23
PBT for the year increased by 45% to ₹234.34Mn
PAT stood at ₹152.76 Mn in FY23 as compared to ₹141.56 Mn in FY22 showing a growth of 8% YoY. PAT Margins stood at 28% in FY23 and 34.5% in FY22
Particulars (₹ Mn)
Revenue from Operations
Other Income
Total Income
Employee Benefits Expenses
Other Expenses
EBITDA
EBITDA %
Finance Cost
Depreciation & amortization expenses
PBT
Current Tax Expense
Federal Tax
Deferred Tax Expense
Total Taxes
Profit/(Loss) for the year
Other Comprehensive Income/ (Loss)
Net Income
PAT %
Diluted EPS (Restated)
FY21
211.53
3.43
214.96
69.65
68.59
73.29
34.65%
0.07
3.19
73.50
3.28
18.18
0.03
21.5
51.98
-
51.98
24.57%
3.03
FY22
410.92
13.57
424.49
152.43
108.36
150.13
36.54%
0.03
2.32
161.35
3.23
16.56
(0.04)
19.8
141.6
-
141.6
34.46%
8.72
35
FY23
554.46
14.41
568.88
202.22
128.39
223.85
40.37%
0.10
3.83
234.34
9.66
71.53
0.39
81.59
152.76
-
152.76
28%
9.64
© S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N
W W W . S I G M A S O L V E . C O M
Sigma Solve Ltd Consolidated Balance Sheet
36
Balance Sheet (₹ Mn)
FY21
FY22
FY23
Balance Sheet (₹ Mn)
FY21
FY22
FY23
Assets
PP&E
Capital WIP
Intangible Assets
Financials assets
- Investments
- Loans
- Other Financial Assets
Deferred tax assets
Other Non-Current Assets
Non-Current Assets
Financials assets
-Investment
-Trade Receivables
-Cash & Cash Equivalents
-Loans & advances
Other Current Assets
Current Assets
Total Assets
6.88
0.06
0.10
5.74
0.06
0.07
6.25
65.82
0.04
Equity
Equity Share Capital
Reserves & Surplus
Minority Interest
Shareholders Fund
47.92
43.32
260.04
Liabilities
0.23
4.45
59.64
9.86
36.11
109.86
0.01
0.87
156.71
216.35
0.26
0.54
49.67
164.60
32.39
118.45
0.01
0.62
316.07
365.74
0.54
332.69
12.01
54.24
225.87
0.15
6.25
298.51
631.20
Financial Liabilities
-Borrowings
-Other financial liabilities
Provisions
Deferred Tax Liabilities
Non-Current Liabilities
Financial Liabilities
-Borrowings
-Trade Payables
- O/S dues of micros & small enterprises
- O/S dues of creditors other than above
Other Current liabilities
Provisions
Liabilities for current tax
Current Liabilities
Total Equity & Liabilities
© S I G M A S O L V E L T D . A L L R I G H T S | Q 1 F Y 2 4 E A R N I N G S P R E S E N T A T I O N
41.11
96.46
56.72
194.28
41.11
188.24
111.55
340.9
102.78
238.98
175.65
517.41
10.10
-
30.14
-0.25
10.10
2.06
1.45
1.45
7.96
0.48
2.05
-0.26
1.78
4.23
2.76
2.76
15.87
0.19
3.20
0.19
33.54
8.56
5.91
5.91
47.95
17.85
11.97
216.35
23.05
365.74
80.26
631.20
W W W . S I G M A S O L V E . C O M
S I G M A S O L V E L T D
Shareholding Pattern As of 30th June'2023
27%
73%
Public
Promoters
37
SYMBOL
543917
SIGMA
LISTED
BSE (Main)
NSE (Main)
MKT CAP (As on 17th August 2023)
Rs. 483 Crores
Rs. 504 Crores
52 WEEK HIGH/LOW
Rs. 505.80/297.50
Rs.502.70/297.25
CURRENT MARKET PRICE (as on 17th August 2023)
Rs. 490
Rs.490
Shareholding Pattern
Particulars
No. of Shares
% of Holding
Public
Promoters
Total
27,52,500
75,24,998
1,02,77,498
26.78%
73.22%
100%
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W W W . S I G M A S O L V E . C O M
Thank you
Investor Relations Contact
Tanya Verma Go India Advisors Tanya@GoIndiaAdvisors.com M:+91 97270 30985
Sana Kapoor Go India Advisors sana@GoIndiaAdvisors.com M:+91 81465 50469
Sheetal Khanduja Go India Advisors sheetal@GoIndiaAdvisors.com M:+91 97693 64166
SIGMA SOLVE LTD
Company Contact
079-29708387
compliance@sigmasolve.net
801, PV Enclave, Sindhu Bhavan Road, Ahmedabad - 380054
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W W W . S I G M A S O L V E . C O M