InfoBeans doubles its revenue every 3 years

On a mission to create long-term value for all stakeholders, InfoBeans continues on a high growth path. It has doubled revenue every 3 years since 2010 and has done it again with the topline of INR 289 crores in FY2022 as compared to INR 120 crores in FY2019.

InfoBeans Technologies Limited (NSE:infobean), a Digital Transformation and software Product Engineering company, announced its audited financial results for the March 2022 quarter and the fiscal year 2021-22.

Here are the highlights of InfoBeans FY 2021-2022 Q4 results:

Highlights of the last quarter, Q4 2021-22

1. Revenue: INR 95 crores; up 28% QoQ and 86% YoY
2. EBITDA: INR 29 crores; up 27% QoQ and 123% YoY
3. Client wins: 8 new clients were added in the last quarter, including two Fortune 500 clients

Highlights of the year FY2022

1. Revenue: INR 289 crores; Growth of 47% YoY as compared to INR 196 crores in FY2021
2. Revenue in USD terms grew by 46% over the same period
3. EBITDA: INR 85 crores: Growth of 57% YoY as compared to INR 54 crores in FY 2021
4. PAT: INR 57 crores; Growth of 54% YoY as compared to INR 37 crores in FY2021

Team Members

1. Utilization excluding trainees at 82%
2. Utilization including trainees at 76%
3. LTM attrition for 0-2 years tenure is 14%, 2-5 years tenure is 8% and 5+ years is 4%
4. Revenue per team member is $25,400 for the year

M&A Update

InfoBeans acquired Pune based Salesforce Platinum Partner Eternus Solutions in November 2021, resulting in a major foray in the Salesforce ecosystem for cloud transformation. Salesforce is the world’s leading cloud based CRM and digital transformation platform.

Talking about the acquisition, Mitesh Bohra, Co-founder at InfoBeans, said, “Post-integration InfoBeans will leverage Eternus Solutions' Salesforce practice and provide its customers with leading edge cloud solutions”

About InfoBeans

InfoBeans, founded in 2000 and now a team of 1500+ professionals, is a publicly listed Digital Transformation and Product Engineering organization. We design, build, and sustain enterprise-grade software to fulfill our clients’ most ambitious business aspirations or resolve their most complex business problems using cutting-edge technology. We strive to deliver value accretive services to our clients over a long period of time as an extension of their own team. We intently focus on the philosophy that InfoBeans is our team’s second home across our offices in the USA, Europe and Asia, and work hard every day to grow a work culture that fosters collaboration and excellence. Creating WOW! is not just a tagline for us, it’s our religion!

Investor Relations Contact

Mridul Maheshwari (investor.relations@infobeans.com)