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HSENID BUSINESS SOLUTIONS PLC (HBS.N0000)

4 posters

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ResearchMan

ResearchMan
Manager - Equity Analytics
Manager - Equity Analytics

Has anyone been following this company.

I would love to know any information on the company, I have had a look at their business model. I can’t get  any understanding with software. Would love anyone elses input.
 
Read its annual report.
 
Mission: Become the most preferred HCM Solutions provider in APAC & African regions with a globally competent workforce, agile and AI driven product innovations through Interdependence, Interoperability, and Integration with global best practices.
 
I particulrly like to hear about AI driven product innovations.Surprsingly, selling pressure is visible. 


https://economynext.com/sri-lankas-hsenid-business-solutions-limiteds-ipo-opens-88408/

ResearchMan

ResearchMan
Manager - Equity Analytics
Manager - Equity Analytics

I found some statistics.
 
IPO issue price: Rs.12.50
 
Share price back then : Rs.34.60 in 28/12/21
 
52 week high and low: Rs.11.80 and Rs.24
 
Curent trading price: Rs.12/30
 
What a drop? I took a positoin in this too.I may be right or wrong.

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

BUSINESShSenidBiz exceeds $3 million Exit ARR in 3Q FY24
The PeoplesHR Cloud business, constituting 76% recurring revenue, remains the primary driver having recorded a 40% growth year-on-year. The Company achieved a critical milestone in its growth journey by surpassing $3 Million in Exit ARR (Annualized Recurring Revenue).
HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_2810

PeoplesHR is a leading human capital management software solution focusing on digitalising the entire employee journey within an organisation from hiring to retirement. hSenidBiz, which owns PeoplesHR, has deployed its software to help digitise over 1,600 HR departments across 40 countries in Middle East and Africa, South Asia and Southeast Asia.
HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_2811
https://island.lk/hsenidbiz-exceeds-3-million-exit-arr-in-3q-fy24/

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_2322

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Earnings declined >-100% QoQ primarily due to an exchange loss coupled with Rs.23mn deferred tax expenses.
HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_2812

🔺 hSenid Business Solutions PLC (hBS) reported total revenue of LKR 433.0 million for the three months ending on March 31, 2024 recording a year-over-year growth of 10.7 percent (21.1 percent in USD constant currency terms) compared to LKR 391.0 million in the corresponding quarter of the previous financial year. For the full year FY24, hBS generated a total revenue of LKR 1,645.3 million, recording a 12.4 percent year-over-year growth (19.6 percent in USD constant currency terms).

🔺 hBS recorded a net loss of LKR 155.3 million for the quarter which was inclusive of c. LKR 102 million in one-off non-cash items comprising LKR 57 million in forex losses, LKR 22 million in gratuity provisions and LKR 23 million in deferred tax expenses on account of reversals in debtor provisions.

🔺 The PeoplesHR Cloud business continues to be the primary driver of the company's top line, generating a revenue of LKR 249.7 million and recording a year-over-year growth of 36.0 percent (50.8 percent in USD constant currency terms) during the quarter. This was supported by recurring subscription revenues in the segment, which accounted for 40.3 percent of total revenues, contributing to the overall recurring revenue base of the company. Total company recurring revenues accounted for approximately 54.0 percent of the total revenue for the fourth quarter, while for the full year, total recurring revenues stood at 57.0 percent of total revenues.

🔺 From a regional standpoint, Sri Lanka and Middle East & Africa (MEA) region contributed to the topline growth during the quarter. MEA region revenues included both new projects and revenues from the Ugandan Government project, which entered its third and final phase of implementation.

🔺 During the quarter, the company's core exit ARR (Annualized Recurring Revenue) recorded a figure of USD 3.1 million which amounts to a year-over-year growth of 39 percent in constant currency terms. The core exit ARR generated by the PHR Cloud business recorded a robust 53 percent year-over-year growth demonstrating the strength of the key segment of the business that has been driving growth.

🔺 New deals for the quarter recorded a very strong USD 1.6 million with demand driven by MEA and South Asia regions. MEA new deals witnessed strong demand for PeoplesHR On-Premise product, which accounted for 62.7 percent of total new deals. For the full year however, PeoplesHR Cloud accounted for 61.5 percent of new deals compared to 47.2 percent in the previous year. The average deal value for the full financial year continued to increase significantly in line with the strategy to focus on a smaller number of larger deals.

🔺 Looking at FY25, our key focus remains on building further traction in the APAC region by positioning our brand as a leading HR Technology player. We continue to reap benefits from our investments over the past year in the region, and believe it will be a key contributor to the PeoplesHR cloud business, driving recurring revenues of the company. Furthermore, the year will also see further collaborations with our partner network to broaden our customer reach and increase market footprint.

God Father


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

hSenid Business Solutions PLC: Financial Performance for year ended 31st March 2024


HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) EEzS4yvW4AEDWsF


  • Total revenue for the year ended 31st March 2024 was LKR 1,645.3 million, which represents a year-over-year growth of 12.4% compared to the previous financial year’s revenue of LKR 1,464.4 million. In USD constant currency terms, this growth rate was 19.6%.
  • The company recorded a net loss of LKR 155.3 million for the quarter ended 31st March 2024. This loss included approximately LKR 102 million in one-off non-cash items, which comprised LKR 57 million in forex losses, LKR 22 million in gratuity provisions, and LKR 23 million in deferred tax expenses due to reversals in debtor provisions.
  • The normalized EBITDA margins for the quarter were not explicitly stated in the provided context, but it is indicated that the net loss was influenced by the one-off non-cash items.
  • The gross profit for the three months ending 31st March 2024 was LKR 176.8 million, a significant increase of 53% from the same period in the previous year, which had a gross profit of LKR 115.9 million.
  • The cost of sales for the year ended 31st March 2024 was LKR 979.8 million, which is a 4% increase from the previous year’s cost of sales of LKR 942.1 million.


https://lankabizz.net/2024/05/18/hsenid-business-solutions-plc-financial-performance-for-year-ended-31st-march-2024/

K.R likes this post

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

▪First 4 months merchandise exports up 3.55% YoY to $ 3.98 b
▪Merchandise exports’ struggle persist in April; down 4.1% to $ 814 m
▪Services sector robustness helps to boost total earnings in April by 1.25% YoY to $ 1.14 b
Total exports during first 4 months hit $ 5.03 b, up by 4.14% YoY
▪Despite setbacks apparel and textiles sector tops export revenue with $ 1.56 b in first 4 months
▪Tea, rubber, coconut and other exports struggle to make it to half-a-million mark

"In April 2024, the estimated value of services exports was $ 300.41 million, showing a significant increase of 19.28% compared to the same month in 2023"
https://www.ft.lk/front-page/Jan-April-merchandise-export-earnings-record-new-high/44-762085

ResearchMan

ResearchMan
Manager - Equity Analytics
Manager - Equity Analytics

K.R wrote:▪First 4 months merchandise exports up 3.55% YoY to $ 3.98 b
▪Merchandise exports’ struggle persist in April; down 4.1% to $ 814 m
▪Services sector robustness helps to boost total earnings in April by 1.25% YoY to $ 1.14 b
Total exports during first 4 months hit $ 5.03 b, up by 4.14% YoY
▪Despite setbacks apparel and textiles sector tops export revenue with $ 1.56 b in first 4 months
▪Tea, rubber, coconut and other exports struggle to make it to half-a-million mark

"In April 2024, the estimated value of services exports was $ 300.41 million, showing a significant increase of 19.28% compared to the same month in 2023"
https://www.ft.lk/front-page/Jan-April-merchandise-export-earnings-record-new-high/44-762085
Less than expected earnigs for last 2 quarters. At least should watch one to 3 more years to get an idea.

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

ResearchMan wrote:
K.R wrote:▪First 4 months merchandise exports up 3.55% YoY to $ 3.98 b
▪Merchandise exports’ struggle persist in April; down 4.1% to $ 814 m
▪Services sector robustness helps to boost total earnings in April by 1.25% YoY to $ 1.14 b
Total exports during first 4 months hit $ 5.03 b, up by 4.14% YoY
▪Despite setbacks apparel and textiles sector tops export revenue with $ 1.56 b in first 4 months
▪Tea, rubber, coconut and other exports struggle to make it to half-a-million mark

"In April 2024, the estimated value of services exports was $ 300.41 million, showing a significant increase of 19.28% compared to the same month in 2023"
https://www.ft.lk/front-page/Jan-April-merchandise-export-earnings-record-new-high/44-762085
Less than expected earnigs for last 2 quarters. At least should watch one to 3 more years to get an idea.

HBS performance is depending on the Apparel exporters. 
 *Even though SL is slowing down Bangladesh , India and African region is back on track. This will benefit HBS going forward.

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Apparel industry is expected to benefit significantly from the current cycle of interest rate cuts.
🔺HBS will be one of the biggest beneficiaries #CSE
HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_2910

K.R

K.R
Manager - Equity Analytics
Manager - Equity Analytics

Dividend Notification

CASH  1.25
SRIPT 1.06 (1/ 11.106*11.80)
         ______
HSENID BUSINESS SOLUTIONS PLC (HBS.N0000) Img_0910

ErangaDS

ErangaDS
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

ECONOMYNEXT – Sri Lanka-based tech company hSenid Business Solutions will reallocate 350 million rupees raised through an initial public offering for acquisitions in APAC and East African regions, for market development instead.


“Given the risks and rewards profile involved in inorganic growth that is envisaged in strategic investments, organic growth as envisaged in market development activities is expected to yield better returns on investment.”




https://economynext.com/sri-lanka-hsenid-to-use-ipo-funds-for-market-development-168654/

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