Dailyhunt parent VerSe Innovation clocks 17.5 pc total revenue dip in FY24, halves EBITDA loss
According to its financials, the company's EBITDA shrank by 51 per cent during the same period, decreasing from Rs 1,448 crore to Rs 710 crore.
Ceinsys Tech Ltd posted a 79 per cent Year-on-Year increase in consolidated revenue for Q3-Financial year 25, reaching Rs 1,118 million.
EBITDA grew 102 per cent YoY to Rs 214 million, with a 19.14 per cent (earnings before interest, taxes, depreciation, and amortization)EBITDA margin, while (Profit After Tax)PAT increased 71 per cent YoY to Rs 178 million.
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For the nine-month period ending December 31, 2024, the company recorded Rs 2,757 million in revenue, marking a 58 per cent YoY rise, with EBITDA at Rs 513 million (+62 per cent YoY) and PAT at Rs 414 million (+77 per cent YoY).
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Ceinsys attributed its growth to operational efficiency and strong project execution.
As of December 31, 2024, CS TECH AI’s order book stood at Rs 13,900 million, comprising 53 per cent geospatial and engineering services and 47 per cent technology solutions.
Key contract wins include River Linking Project, Maharashtra – Rs 3,811.8 million, IoT-based Water & Sanitation Project, Maharashtra – Rs 3,316 million. GIS Enterprise Implementation for CIDCO Rs 291.9 million. Digital Transformation for MHADA – Rs 277.6 million
The company also improved its working capital cycle, reducing it from 237 days in March 2023 to 124 days in December 2024. Additionally, it raised Rs 2,350 million in Q2-FY25 through equity issuance and share warrants to fuel expansion.
Effective January 1, 2025, Ceinsys Tech Ltd rebranded as CS TECH AI, aligning with its focus on AI-driven technology solutions.
The new identity, along with the tagline “Enhancing Possibilities,” underscores its commitment to leveraging cutting-edge technology for clients across industries.
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