Quick Heal Releases Financial Results, Reported 5% YoY Revenue Growth

Quick Heal Releases Financial Results, Reported 5% YoY Revenue Growth

Quick Heal Technologies Limited reported its audited results for the quarter and the year ended on 31st March 2024.

Key Financial Highlights – FY24

  • Revenue: INR 291.8 Cr 

  • EBITDA: INR 17.6 Cr 

  • PAT: INR 24.2 Cr 

  • Proposed Dividend: ₹3 per share

Commenting on the consistent business performance, Vishal Salvi, Chief Executive Officer, Quick Heal Technologies Limited, said, “We are pleased to announce another strong quarter and profitable FY24, driven by our unwavering focus on innovation and customer-centric solutions. Towards that commitment, we are happy to state that, our Board has approved further investments in new solutions and products to strengthen our portfolio. As India's only full-stack cybersecurity provider, we are witnessing good demand across all sectors, positioning us for significant growth, particularly in the mid-to-large enterprise sector. We eagerly anticipate the enforcement of the recently announced DPDP Act and are prepared to leverage our data classification solutions to support its implementation.

“Further solidifying our commitment to shaping the global cybersecurity narrative, Quick Heal, including Seqrite, our enterprise arm, has become a member of AISIC led by the Govt. of U.S.A. Strategic enterprise partnerships, such as with M Tech Solutions, have strengthened our presence in India, while collaborations with Syscom in the Middle East region and EET in the European Union markets have expanded our global reach. Furthermore, our deliberate efforts in onboarding industry veterans into our leadership last fiscal year reaffirms our commitment to strengthening our delivery capabilities. Reinforcing excellence and to deliver unparalleled customer experiences, we have inaugurated a state-of-the-art Customer Experience Center at our Headquarters in Pune today,” he concluded.

Ankit Maheshwari, Chief Financial Officer, Quick Heal Technologies Limited, said, “Quick Heal delivered a consistent performance in FY24, driving both revenue growth and profitability. We witnessed a 5% YoY growth in Revenue and 9x EBITDA. Our recently launched new products are gaining traction among customers, contributing to revenue growth in the enterprise segments. Our R&D investments fueled innovation, with Quick Heal version 24 becoming the first in India to receive AV-Labs Poland certification for Safe Browser & Safe Banking, further bolstering consumer business growth. We are intensifying our focus on enterprise engagement and leadership, while continuing to prioritize product innovation and enhancement, market expansion, and stakeholder value creation. We have proposed a dividend of ₹3 per share in line with our dividend distribution policy.”

With some key leadership recruitments this year including Chief Product Officer, Head of Delivery and Head of Enterprise Sales, the company strengthened its team to continue to drive success, while the product portfolio evolves in alignment with the CSMA architecture. Inauguration of a Cybersecurity Experience Centre at company’s Pune Headquarters stands as a testament to their heavy focus on innovation and R&D. Showcasing cutting-edge solutions, it offers visitors an immersive journey through the realm of cybersecurity excellence.

From state-of-the-art technologies to interactive displays, the center highlights the company’s commitment to delivering unparalleled customer experiences. Visitors can explore the latest advancements in cybersecurity, gaining insights into how Quick Heal and Seqrite are shaping the global landscape of digital security, deep dive into their Make-in-India story and achievements on a global scale. This dynamic space serves as a hub for collaboration, education, and inspiration in the field of cybersecurity.

Highlights of the Year FY24:

  • Achieved INR 291.8 Cr Revenue & INR 24.2 Cr PAT for the year FY24

  • Proposed a dividend of ₹3 per share

  • Becomes the only Indian cybersecurity firm listed as a U.S. Artificial Intelligence Safety Institute Consortium Member

  • Onboarded M. Tech Solutions, appointing them as a National Distributor

  • Added over 200 Enterprise Clients for new products in FY24

  • Signed MoUs with IIM Nagpur and National Forensic Sciences University for in-depth cybersecurity research

  • Inaugurated cybersecurity experience centre to create a dynamic and immersive experience that showcases the journey of Quick Heal and Seqrite

  • Released first ever “India-focused Seqrite Cyber Threat Report 2023” in association with the Data Security Council of India (DSCI), highlighting the key insights and actionable recommendations

  • Recruited Ms. Swapna Sangari, as the Vice President for People & Culture; Mr. Ankit Maheshwari, as the Chief Financial Officer; Mr. Vishal Salvi, as the Chief Executive Officer; Mr. Ajit Zanjad, as Head of Delivery; Dr. Lalit Mohan, as the Chief Product Officer; and Mr. Samuel Sathyajith, as Senior Vice President for Enterprise Sales

  • Detected over 623Mn (18% YoY growth) threats including 1.3 Mn ransomware (31% YoY growth) with approximately 9Mn Endpoints throughout the year FY 24

  • Impacted over 13 lakh lives through our CSR initiatives focusing on youth development, cybersecurity awareness and primary healthcare through the year

As a pioneer in the cybersecurity industry, Quick Heal Technologies Limited is committed to delivering cutting-edge solutions that empower individuals, businesses & nations to safeguard their digital assets and identities. With a strong focus on innovation, simplification, customer-centricity along social responsibility to create a positive impact on society and the environment. Quick Heal Technologies Limited believes that cybersecurity is not just a product, but a culture that needs to be embraced by all stakeholders in the digital economy. We are proud to be a leading Indian cybersecurity product company and feel poised to secure the aspirations of the new digital India, fostering our nation’s goal of Aatmanirbhar Bharat.

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