Quick Heal Technologies Announces 9MFY21 Results

Quick Heal Technologies (“Quick Heal”), a provider of cybersecurity and data protection solutions to consumers, businesses and Government, reported its reviewed and unaudited results for the quarter and nine months ended 31st December 2020.

• Revenue at ₹2,278 mln up 2.6% Y-o-Y

• EBITDA at ₹877 mln up 5% Y-o-Y with EBITDA margin of 38.5%

• PAT at ₹673 mln up 1% Y-o-Y

• Continues to be a debt free company

Consolidated Financial Highlights:

Dr. Kailash Katkar, MD & CEO, Quick Heal Technologies, said; “We delivered good revenue performance during the third quarter as the Indian economy slowly started recovering from the Covid-19 pandemic. On the R&D front, with the appointment of industry veterans like Sanjay Agrawal and Bibhuti Kar, we have accelerated new product development efforts to strengthen our enterprise business under ‘Seqrite’. Furthermore, we recently announced additional investment in Israel based company – L7 Defense, reiterating our commitment to invest in disruptive technologies that will shape the future of cybersecurity while supporting innovative start-ups. With economy slowly recovering and increase in cybersecurity awareness, we are confident to end the year on a positive note.”

Nitin Kulkarni, CFO, Quick Heal Technologies, added; “We have performed better in what traditionally remains a weak quarter for us with quarterly revenue growing 6.3% YoY basis. With economy slowly recovering, we have increased our investments in advertisements and continued focus in R&D innovations have affected our margins. Our balance sheet remains strong with zero debt and a cash and cash equivalents balance of ₹4,787 mln.”

Segmental Performance for nine months ended 31st December 2020

• Retail segment revenue at ₹2,038 million compared to ₹1,876 in 9MFY20. Retail segment contributed 81.5% to total revenue in 9MFY21

• Enterprise and Government segment revenue at ₹464 million compared to ₹468 mln in 9MFY20. Enterprise segment contributed 18.5% to total revenue in 9MFY21

Key updates:

• Quick Heal Technologies signed a definitive agreement to make an additional strategic investment of USD 2 million in L7 Defense, an Israel based cybersecurity start-up. The investment enables Quick Heal to expand its range of enterprise solutions under the ‘Seqrite’ umbrella and introduce L7’s flagship products in market stronghold of India as well as other regions in APAC and EMEA.