PUNE, August 8, 2019: Quick Heal Technologies Limited (“Quick Heal”), India’s leading provider of IT Security Software Products and Solutions to consumers, businesses and Government, reported its reviewed and unaudited results for the quarter ending 30th June 2019.

During the quarter, the overall demand for cybersecurity products and solutions in India was not in line with our expectations. We observed generic slowdown in demand which resulted in pricing pressure in the SMB and consumer segment. We also witnessed slowdown in Government buying due to India’s General Elections. The performance highlights are as below:

Consolidated Financial Highlights:

Particulars (Rs. million)

FY19

FY18

YoY Change

Revenue

576.00 530.88 8.50%

EBITDA

128.24 89.24 43.70%

EBITDA Margin

22.26% 16.81% +545 bps

PAT

118.98 61.12 94.67%

PAT Margin

20.66% 11.51% +915 bps

Mr. Kailash Katkar, Managing Director & Chief Executive Officer, Quick Heal Technologies Limited, said; “Despite sluggish economic scenario and moderate market growth, we are pleased to report steady growth for the quarter and kick start FY20 on a positive note. Our profit margins for the quarter have almost doubled, while our revenue has seen growth of 8.5% YoY. On the revenue front, retail segment grew by 8% with volume growth of 4%. Enterprise and Government business witnessed marginal growth of 2% on account of rising pricing pressure and slowdown in Government buying due to general election. However, volume growth for the segment stood at 7%. With growing importance of cybersecurity and data protection in India and globally, we expect better realisations and volume growth going forward.”

Mr. Nitin Kulkarni, Chief Financial Officer, Quick Heal Technologies Limited, added “At Quick Heal, we have been continuously working on improving financial and operational efficiencies which reflects in our Q1 performance. Our growth in profitability is mainly attributable to changing product mix, strict cost optimization measures and focused research and development initiatives. During the quarter, we have concentrated on improving our collections which has resulted in lowering our receivable by Rs. 22 crores.”

Mr. Vijay Mhaskar, Chief Operating Officer, Quick Heal Technologies Limited, commented “With constant focus on developing cutting edge products and solutions, we are happy to share that the company was granted a US Patent for our ground-breaking Anti-Ransomware technology. The patent approval makes us the first Indian company to indigenously develop and granted a patent for Anti-Ransomware Technology. As cyber-threats continue to evolve in scale and sophistication, we will continue to innovate and deliver best-in-class protection against the rising menace of cybercriminals.”

Segmental Performance for quarter ended 30th June 2019

  • Retail segment revenue up at Rs. 457 million as compared to Rs. 423 million in the corresponding period of the previous year
    • Contributes 76% to Total Revenue
  • Enterprise and Government segment revenue up at Rs. 146 million as compared to Rs. 144 million in the corresponding period previous year
    • Contributes 24% to Total Revenue

Awards and Accreditations: -

  • Quick Heal Technologies Granted US Patent for Anti-Ransomware Technology by the United States Patent and Trademark Office (USPTO) (U.S. Patent No. US20160378988A1)

About Quick Heal Technologies Limited

Quick Heal Technologies Limited is one of the leading providers of IT security software products and solutions to individuals, businesses and Government. Incorporated in 1995 with a registered office in Pune, Quick Heal has a network of over 25,000 channel partners as on 30th June 2019. It conducts sales and marketing activities across India.

Quick Heal’s portfolio includes solutions under the widely recognized brand names ‘Quick Heal’ and ‘Seqrite’ across various operating systems and devices.

For more information about the Company, please visit our website www.quickheal.co.in

Safe Harbor Statement

This document may contain forward-looking statements about Quick Heal Technologies Limited, which are based on the beliefs, opinions, and expectations of the company’s management as the date of this press release and the companies do not assume any obligation to update their forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. Consequently, readers should not place any undue reliance on such forward-looking statements.

For further details please contact

Company

Investor Relations Advisors

Quick Heal Technologies Limited

CIN No: L72200MH1995PLC091408

Mr. Akash Gosavi

Email id: akash.gosavi@quickheal.co.in

Tel. No.: +91 020 6681 3287

 

Strategic Growth Advisors Pvt. Ltd.

CIN No: U74140MH2010PTC204285

Mr. Jigar Kavaiya

Email id: jigar.kavaiya@sgapl.net

Tel No: +91 992602034