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DRC Systems Reports Strong Q4 and FY 2021-22 Financial Results

DRC Systems India Limited reported a strong Q4 FY22, with a 381.1% increase in profit after tax, totaling INR 35.6 Lacs. The company secured several large contracts, including projects in blockchain development and sustainable energy, while also making an investment in AutoDAP B.V. in the Netherlands.

DRC Systems India Limited Announces Financial Results for the Fourth Quarter and Fiscal Year 2022

Profit After Tax for the year was up by 246.8% YoY to INR 70.3 Lacs.

Gandhinagar, India, 18th April, 2022 Information Technology and Software Consultancy Services provider, DRC Systems India Limited “DRC Systems” “the Company”, today announced its standalone financial results for the fourth quarter and fiscal year ended Mar 31, 2022.

Outcome of Board Meeting:
Standalone Financial Highlights Quarter Ended March 31, 2022
  • Revenue for the quarter was INR 464.5 Lacs, up by 8.3 % QoQ
  • EBITDA for the quarter was INR 79.6 Lacs, up by 36.3 % QoQ.
  • EBITDA margin for the quarter was at 17.1 %
  • Profit After Tax for the quarter was INR 35.6 Lacs, up by 381.1 % QoQ.
Particulars*

Q4FY22

Q3 FY22

% change QoQ

Revenue

464.5

428.9

8.3%

EBITDA

79.6

58.4

36.3%

EBITDA Margin

17.1%

13.6%

25.9%

Profit after Tax

35.6

7.4

381.1%

*Figures in INR Lakhs

Standalone Financial Highlights Year Ended March 31st, 2022
  • Revenue for the year was INR 1950.1 Lacs.
  • Profit after tax for the year was INR 70.3 Lacs, up 246.8%.
  • EBITDA for the year was INR 260.1 Lacs, up 57.4%.
  • EBITDA margin for the year was 13.3 %
Particulars*

FY 2021 22

FY 2020 21

% change YoY

Revenue

1,950.1

2,059.5

-5.3%

EBITDA

260.1

165.2

57.4%

EBITDA Margin

13.3%

8.0%

66.3%

Profit after Tax

70.3

-47.9

246.8%

*Figures in INR Lakhs

During the fiscal ending March 31, 2022, the Company has on boarded some large clients both from domestic and international geographies as a result, registered strong financial performance and consistent profitability QoQ.

Key Business and Operational Highlights
  • During the Year the Company has entered into large business contracts for developing and implementing digital infrastructure in India and internationally
  • The Company has invested and acquired 2.3% stake in Netherlands based AutoDAPB.V, at a total cash consideration of EUR 16, 76,700.
  • Entered into contract with EMAR group for developing blockchain based wallet.
  • Entered into contract and signed deal extension with Australia based client for developing a software platform for sustainable energy.
  • Entered into contract with Krazzy Fin Private Limited to develop fantasy stock trading platform.

The Company’sManaging Director, Mr. Hiten Barchha, said: ‘During the fiscal year ending March 31, 2022, the Company demonstrated significant performance, including its capability to develop state-of-the-art digital assets for clients within stipulated timelines.’ We will continue to take this performance to the next level in this Fiscal adding more value for our internal and external stakeholders

About DRC Systems India Limited

DRC Systems is an IT services and consulting company based in India, dedicated to providing sustainable and impactful business solutions. Since our inception in 2012, we have focused on innovation and creativity to drive change. Our services and solutions empower businesses to scale and stay competitive in the market. Our services and solutions help businesses scale the market. Over the years, we have diversified our service offerings through a mix of organic growth and strategic transactions. Our wide range of services allows us to build strong client relationships and create opportunities for cross-selling.Our customer base spans multiple geographies, primarily in Europe, the USA, the Middle East, and Asia.

Press Release (pdf)