Chennai, India – May 10, 2023: LatentView Analytics Limited (BSE: 543398, NSE: LATENTVIEW), a global digital analytics consulting and solutions firm, today announced its financial results for the Fourth Quarter & Full Year of FY23 ended on March 31, 2023.
Commenting on the FY23 results, Rajan Sethuraman, Chief Executive Officer, LatentView Analytics, said, “We are pleased to report the highest ever full-year revenue and profit margins in the history of our company. Our revenue grew at 32% on year-on-year basis for FY23. The growth was broad-based across Technology, Financial Services and CPG. Enterprises are increasingly relying on data-driven insights to ensure accuracy and precision in their decision-making, maximizing efficiency and competency in today’s highly competitive and uncertain macroeconomic environment. This is especially true in Supply chain, Data Engineering and Consulting services, all of which are our areas of expertise. As we move forward, we remain committed to investing for growth opportunities and expanding our capabilities. This quarter, we welcomed a Chief Growth Officer to our team, and augmented our GTM team with 12 additions. We ended the year with the headcount of 1,116.”
Rajan Venkatesan, Chief Financial Officer, LatentView Analytics, said, “We were able to deliver strong growth in FY23, despite macroeconomic uncertainties. We will continue to invest and support growth initiatives and capability building that will differentiate us in the marketplace. We remain confident that our strong execution track record, prudent capital allocation, sharp value propositions based on gaps identified in the market and verticalized approach should deliver growth in the coming quarters. Our Cash and Investments (excluding proceeds from the IPO) as of March 31, 2023, stood at ₹8,247 million”.
Key Financial Highlights
Particulars ₹ Million Q4FY23 YoY Growth FY23 YoY Growth
Operating Revenue 1,411 20.1% 5,388 32.1%
EBITDA 301 (15.9%) 1,451 19.0%
EBITDA % 21.4% 26.9%
PBT* 423 5.0% 1,894 22.8%
PBT % 27.1% 31.9%
PAT* 342 (3.9%) 1,554 19.9%
PAT % 21.9% 26.1%
Basic EPS (₹) 1.68 (6.1%) 7.71 8.8%
*PBT and PAT for FY22 includes exceptional item of ₹226 million. Excluding exceptional item FY23 PBT grew at 43.9% and PAT at 45.4%
Select Key Client Wins in Q4
▪ A distributor of roofing, pooling and landscaping products hired LatentView to consolidate reporting and dashboarding for its pricing function. Establishing a beachhead with this client allows LatentView to expand its footprint in the supply chain and digital customer/marketing transformation functions, a key priority for this client.
▪ LatentView is working with the Marketing Analytics team of a leading American enterprise software company and helping them build an end-to-end marketing performance measurement dashboard. Through this solution, the client will be able to track spends, campaigns performance, personas and other key marketing metrics that showcase the success or failures of their campaigns. The team is also developing the back-end data tables for the campaigns. The key objective of this solution is to stitch the relevant data together to get a 360-degree view of their customers.
Other Business Highlights of Q4
▪ LatentView was honoured with the prestigious Silver Award for Excellence in Rewards and Recognition Strategy at The Economics Times Human Capital Awards. The awards are an initiative of the ETHR World, the flagship digital portal for the HR vertical of The Economic Times daily. This recognition is a testament to LatentView’s unwavering commitment to fostering a positive and empowering work culture where the contribution of every individual is valued and rewarded.
▪ Further strengthening its leadership team, Prashant Ramanujan joined LatentView as Chief Growth Officer. Prashant comes with a blend of hands-on delivery execution, pre-sales, and business scaling functions, across digital, technology and data products and services. He brings expertise in market research, crafting and executing GTM strategies, coupled with building a technical ecosystem of a team, along with partners.
▪ Strengthening its footprint in Europe, LatentView recruited 9 senior management personnel in the region during the year, a majority of which was done in Q4. With this investment, the company aims to deepen its focus on European business opportunities and drive growth.
▪ LatentView welcomed two new leaders to its advisory council – John Copeland and TV Kumaresh. Copeland has more than 25 years of experience in marketing strategy and analytics from consulting and leadership roles at leading firms like McKinsey and Company, Accenture, Prophet, eBay and Adobe. Kumaresh comes with a deep experience in leading strategies and execution for Fortune 100 Financial Services companies, real estate, building digital customer
centric experiences, and innovation in the auto, auto insurance space, leading growth and transformation, and due diligence consulting projects for McKinsey clients.