Newgen's New Product Innovations in FY 2023-24
NewGen in its annual report highlighted new products like NewgenONE Marvin, IDP, StudioLow-code Trade Finance, and other financial metrics of the company know it here.
by Damodharan N
Updated Jun 28, 2024
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Newgen Software Technologies Limited has introduced several new products and enhancements in fiscal year 2023-24:
- NewgenONE Marvin - Newgen introduced a GenAI-powered enhancement called NewgenONE Marvin to its NewgenONE platform. This enables smarter and faster application development, real-time extraction of insights, and next-level content automation.
- New versions of ECM and CCM platforms - Newgen has launched newer versions of its Enterprise Content Management (ECM) and Customer Communication Management (CCM) platforms to leverage the latest technologies and enhance user experience.
- IDP Studio - Newgen has released the next generation of its Intelligent Document Processing (IDP) Studio, incorporating advanced machine learning algorithms and a new Newgen AI Data Science Studio.
- Retail Loan Origination System, Agri-loan, and SME loan accelerators - Newgen has made major developments in its lending solutions, including a new Retail Loan Origination System, as well as accelerators for Agri-loans and SME loans.
- Low-code Trade Finance solution - Newgen has introduced a new low-code Trade Finance solution to digitize and automate trade finance processes for its customers.
These new product introductions and enhancements demonstrate Newgen's focus on innovation, user experience, and addressing evolving customer needs through the adoption of the latest technologies like AI/ML and low-code platforms.
Newgen Annual Report
The key highlights from Newgen Software Technologies Limited's Annual Report for fiscal year 2023-24:
Financial Performance:
The company had its financial performance outlined showcasing the company's finance in detail.
- Revenue reached ₹12,438 million, a 28% year-over-year growth
- Annuity revenues (ATS/AMC, Cloud/Subscription, Support) grew 26% to ₹7,498 million
- Net worth increased to ₹12,235 million
- Cash flow from operations grew 36% to ₹2,883 million
- Profit after tax increased 42% to ₹2,516 million
|
Metric |
Value (million) |
|
Profit After Tax |
Rs 2,516 |
|
Revenues |
Rs 12,438 |
|
EBITDA |
Rs 2,883 |
|
Annuity Revenues |
7,498 |
|
Cash Flow from Operations |
2,814 |
|
Networth |
12,235 |
Key Strengths:
The Company key strengths include the essential aspects the company.
- Strong track record of innovation with 45 patent filings, 24 granted in India and US
- Introduced GenAI-powered enhancement "NewgenONE Marvin" for faster app development and insights
- Launched new versions of ECM, CCM platforms and next-gen IDP Studio with advanced ML
- Invested 9% of revenues in R&D in FY 2024
- Established leadership positions in traditional markets with strong customer acceptance
- Focused on cultural transformation, employee engagement and development
Future Outlook:
The company's future outlook is about giving new avenues of growth that highlight the essential areas to look out for.
- Preparing for a "quantum leap" on a strong foundation to drive a new chapter
- Turbocharging business with speed, scale and innovation to enable agility and efficiencies for customers
- Aiming to get deeper into existing markets and expand into new geographies
- Continuing focus on innovation, user experience and adopting cutting-edge technologies like AI/ML
The consolidated and standalone financial statements are provided in detail in the Annual Report. Overall, Newgen demonstrated healthy growth across key financial metrics and is well-positioned to capitalize on the increasing demand for digital transformation with its innovative product suite and strong market presence.
Newgen Software Limited
Newgen Software Technologies Limited is a leading provider of a unified digital transformation platform with native capabilities in process automation, content services, and customer engagement. Their industry-recognized low-code application platform helps enterprises develop and deploy complex, content-driven, and customer-engaging business applications on the cloud.
Newgen simplifies even the most intricate business processes by combining the power of automation, content services, customer engagement, and intelligence. With a focus on continuous innovation.
Newgen has successfully certified for ISO 9001:2015, ISO 27001:2013, and CMMi 2.0 for Dev Level 3, and serves over 520 active customers across 74 countries with a team of 4,400+ employees and 350+ global partners.
Newgen's New Product Innovations in FY 2023-24 - FAQs
1. What was Newgen's revenue for FY 2023-24? .
Newgen's revenue reached ₹12,438 million, a 28% year-over-year growth
2. How much did Newgen's annuity revenues (ATS/AMC, Cloud/Subscription, Support) grow?
Newgen's annuity revenues grew 26% to ₹7,498 million.
3. What was Newgen's net worth as of the end of FY 2023-24?
Newgen's net worth increased to ₹12,235 million.
4. How much did Newgen's cash flow from operations grow?
Newgen's cash flow from operations grew 36% to ₹2,883 million.
5. What was Newgen's profit after tax in FY 2023-24?
Newgen's profit after tax increased 42% to ₹2,516 million.
6. What percentage of Newgen's total expenditure was spent on R&D in FY 2023-24?
Newgen invested 11.34% of its total expenditure on R&D in fiscal year 2023-24.
7. What was Newgen's energy intensity per rupee of turnover in FY 2023-24?
Newgen's energy intensity per rupee of turnover was 0.11 GJ/Lakh rupees.
8. What was Newgen's water intensity per rupee of turnover in FY 2023-24?
Newgen's water intensity per rupee of turnover was 0.34 Kilolitre/Lakh rupees.
9. How many days of accounts payables did Newgen have in FY 2023-24?
Newgen had 21 days of accounts payables, excluding accrued expenses, in FY 2023-24.
10. What percentage of Newgen's total purchases and sales were with related parties in FY 2023-24?
Newgen's purchases from related parties were 20.7% of total purchases, and sales to related parties were 29.3% of total sales.
11. What percentage of Newgen's revenue came from annuity sources (ATS/AMC, Cloud/Subscription, Support)?
Annuity revenues contributed 60.3% of Newgen's total revenue in FY 2023-24.
12. What was Newgen's net profit margin in FY 2023-24?
Newgen's net profit margin was 20.2% in fiscal year 2023-24.
13. What was Newgen's return on equity (ROE) in FY 2023-24?
Newgen's return on equity was 20.5% in fiscal year 2023-24.
14. What was Newgen's earnings per share (EPS) in FY 2023-24?
Newgen's basic EPS was ₹18.02 and diluted EPS was ₹17.50 in fiscal year 2023-24.
15. What was Newgen's price-to-earnings (P/E) ratio as of the end of FY 2023-24? .
Newgen's P/E ratio was 13.9x as of March 31, 2024
16. What percentage of Newgen's revenue was spent on research and development in FY 2023-24?
Newgen invested 9% of its revenue in R&D in fiscal year 2023-24.
17. What was Newgen's cash conversion cycle in FY 2023-24?
Newgen's cash conversion cycle was 120 days in fiscal year 2023-24.
18. What was Newgen's debt-to-equity ratio as of the end of FY 2023-24?
Newgen had a debt-to-equity ratio of 0.03x as of March 31, 2024.
19. What percentage of Newgen's revenue came from international markets in FY 2023-24?
International revenues contributed 48.5% of Newgen's total revenue in fiscal year 2023-24.
20. What was Newgen's dividend per share in FY 2023-24?
Newgen's Board of Directors has recommended a dividend of ₹4 per equity share (40% on the face value of ₹10 per share), subject to shareholder approval.
21. What was the total dividend payout in FY 2023-24 compared to the previous year?
The total dividend payout will be ₹5,611.67 lakh, compared to ₹3,497.79 lakh in the previous year.
22. How many new customers did Newgen add during the year?
Newgen added 51 new customers during the fiscal year.
23. How many of Newgen's customers had annual billings over ₹50 million?
Newgen had 65 customers with annual billings exceeding ₹50 million, compared to 51 in the previous year.
24. What was Newgen's revenue per customer growth during the year?
Newgen's revenue per customer improved by 29% on an overall basis.
25. What percentage of Newgen's total expenditure was spent on R&D in FY 2023-24?
Newgen invested 9% of its revenue on research and development activities in fiscal year 2023-24.
26. What was Newgen's market capitalization as of the end of FY 2023-24?
Newgen's market capitalization reached over ₹112,002 million* as of April 26, 2024.
27. What was the revenue growth rate in the EMEA region?
The EMEA region led the way with 39% year-over-year revenue growth.
28. How did the EMEA region's performance compare to other regions?
The EMEA region's 39% revenue growth was followed closely by India at 33% year-over-year revenue growth.
29. What was Newgen's total revenue in FY 2023-24?
Newgen's total revenue was ₹1,18,161.94 million in the standalone financial statements and ₹1,29,189.29 million in the consolidated financial statements for FY 2023-24.
30. What was Newgen's profit after tax in FY 2023-24?
Newgen's profit after tax was ₹23,733.55 million in the standalone financial statements and ₹25,160.50 million in the consolidated financial statements for FY 2023-24.