News: Newgen reported 33.9% YoY revenue growth in Q4 with a revenue of Rs 251.7 crore. The annuity-based revenue (SaaS, ATS/AMC & Support) forming 66% of revenue mix grew by 26.3% YoY. Geography wise US region (25% of mix) grew by 36% YoY while India & EMEA grew by 25% and 38% respectively. Vertical wise BFS (67% of mix) grew by 44.7% YoY. The company EBITDA margin increased by 250 bps YoY to 12.8% due to strong revenue growth posted by the company.
Views: The company has reiterated its guidance of 20% topline growth and EBITDA margin of 20-21% in FY24. We expect traction in its annuity business to provide a strong growth tailwind for a medium to long term.
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