Sasken Technologies Ltd

Key details

• Authority: Joint Commissioner Appeals - 5, LGSTO 046, Bengaluru, Karnataka (domestic).
• Nature: Appeal under SGST/CGST Act 2017 for FY 2020-21 dismissed; demand upheld.
• Total demand: Rs 12,78,57,765 (tax, interest, penalty).
• Interest up to order date: Rs 7,02,60,032.
• Updated total demand: Rs 14,44,78,190.
• Order receipt date: September 22, 2026.
• Violation: GST payable on reverse charge to overseas branches; GSTR-2B vs GSTR-3B mismatch.
• Impact: No material impact on financials or operations; appealable to GSTAT.

Order details

• Authority: Joint Commissioner Appeals, Bengaluru (DGSTO-5), Karnataka.
• Order: Appeal under SGST/CGST Act for FY 2021-22 dismissed; demand confirmed.
• Total demand: ₹159,278,596 (Tax ₹108,983,477; Interest ₹44,426,283; Penalty ₹5,868,836).
• Date of receipt: 21 September 2026.
• Violation: GST payable under reverse charge on overseas branches.
• Impact: No material impact on finances or operations.

Sasken Technologies Limited trading window closed from September 16, 2026 in view of accounts for the quarter ending September 30, 2026

Meeting Details

• 15 Sep 2026, 3:00–4:00 pm: meeting with WhiteOak Capital—virtual.
• 15 Sep 2026, 4:00–5:00 pm: meeting with Equinox Capital Venture—virtual.

Participants

• Company representatives (IR/management) to meet investor teams.
• Organisations: WhiteOak Capital Management; Equinox Capital Venture Pvt. Ltd.

Purpose

• Discuss Q1 FY27 results and related investor updates.
• Based on public investor presentations.

Additional Notes

• Investor presentation for Q1 FY27 and prior quarters is publicly available on Sasken's website.
• Information shared will be based on these public materials.

Meeting Details

• Date and time: 11 September 2026, 10:00–11:00 IST.
• Type/Mode: Virtual group meeting.
• Organizer: Care Portfolio Managers Private Limited (host: Sasken).
• Purpose: Analyst/Institutional investor meeting with Care Portfolio Managers.
• Company participants: not specified in filing.
• Presentation material: Q1 FY27 investor presentation is publicly available on Sasken's site.

Meeting 1 – 1 Sep 2026

• 1 Sep 2026, 12:00–13:00, virtual group meeting with Lakshya Capital Management LLP; purpose: investor interaction.

Meeting 2 – 2 Sep 2026

• 2 Sep 2026, 11:00–12:00, virtual group meeting with SIMPL; purpose: investor interaction.

Notes

• Q1 FY27 and prior-quarter investor presentations are publicly available on Sasken's website.

Meeting Details

• Date/time: 20 August 2026, 9:30–10:30 (MKP Securities)
• Date/time: 20 August 2026, 2:30–3:30 (Nippon AIF)
• Mode: Virtual meetings
• Organisers: MKP Securities and Nippon AIF
• Participants: Company representatives (roles not specified)
• Purpose: discuss Q1 FY27 and prior quarters
• Materials: presentation for Q1 FY27 and prior quarters on Sasken website

Meeting Details

• 18 August 2026, 10:00–11:00, virtual meeting with Sanshi Fund.
• 18 August 2026, 11:00–12:00, virtual meeting with PhillipCapital India Pvt Ltd.

Participants

• Company management representatives to participate in both meetings.

Purpose

• Investor interaction regarding Q1 FY27 results and prior quarters.

Additional Notes

• Investor presentation for Q1 FY27 and prior quarters is publicly available on Sasken's website.

Financial Performance

• Total revenue ₹339 Crores; up 24% YoY and 1.6% sequential.
• Software Services revenue ₹219 Crores; up 24.3% YoY, 4.8% sequential.
• Product Solutions revenue ₹120 Crores; up 23.6% YoY, down 3.9% sequential.
• Gross margin 21.9%; gross profit ₹74 Crores, up 48% YoY, down 1% sequential.
• EBITDA ₹31 Crores; margin 9.5%; EBIT ₹21 Crores; margin 6.3%.
• PAT ₹23 Crores; margin 6.9%.
• Quarter order bookings total US$47 million; new bookings US$34 million.
• ACV for quarter about US$40 million; new wins US$24 million.
• Active customers 93 (vs 79 YoY); 5 new logos added.
• Top five customers contribute ~56% of revenue; stability observed.
• Cash and investments ₹356 Crores at quarter-end.
• Headcount 2,658; attrition 9.8%; utilization 85%.

Operating Momentum and Segment Trends

• Growth driven by broader customer base; momentum across automotive connectivity, semiconductor design, AI-native engagements.
• Borqs acquisition expanded ODM capabilities; strengthened hyperscaler and automotive relationships.
• Silicon business moving toward productization; long-term, specialized design capabilities.
• Chip-to-Cognition end-to-end scope extends from silicon to cloud/AI.
• Hubballi incubation center inaugurated; Hyderabad Center of Excellence established.
• Geography mix: North America 30%, EMEA 25%, India 26%, APAC 20%.
• CSAT score remained 4.5/5.

Balance Sheet and Cash Flow

• Cash & investments ₹356 Crores at quarter-end.
• Operating cash flows negative in Q1; cash use due to working capital and fixed assets.
• Inventory build in Q1 to manage memory shortage.
• Borqs break-even around US$12 million revenue per quarter.
• Progress on GlobalFoundries IP, Intel certifications; TSMC relationship in progress; announcements pending.

Q&A Highlights

• 60x4x3 strategy aims to cross US$4M run-rate in 3 years; may extend 1–2 years.
• Margin impact: memory pricing passes through; product mix shift pressures product solutions margins; stabilization expected.
• Engagements with two different hyperscalers confirmed.
• TCV in quarter: US$47.1m new orders; US$40.5m ACV; carry roughly 9–10 months backlog.
• Plan to add 5–6 sales heads this year to widen coverage.
• Borqs integration supports larger customers; synergy across services and product solutions.
• All three segments have growth potential; margins to be maintained.
• Automotive instrument cluster updates: module development in consideration; China Plus One impact noted.

Outlook and Guidance

• No formal numeric guidance provided; focus on converting bookings to revenues.
• Maintain cost discipline; pursue value pricing; margins to improve with execution.

Meeting Details

• Date and time: August 3, 2026, 4:00–5:00 PM IST.
• Mode: virtual earnings call from Bengaluru (registered office).
• Event/organiser: Sasken earnings call for Q1 FY27 results.
• Key company participants: management (e.g., CEO, CFO).
• Purpose: discuss Audited financial results for quarter ended June 30, 2026.
• Recording and transcript: recording available online; transcript will be submitted to exchanges and hosted on website.