Member Info for Longterminvstor

Highlights for the period:-

- Unaudited turnover for FY23, shows substantial growth against FY22 revenue, and is broadly in line with market expectations.

- H2 FY23 revenue significantly greater compared to £5.5m for H2 FY22.

- Cash at 31st March, 2023 of £4.1m compared to £2.4m at 31st March 2022.

- Cash received from customers was approximately £10.7m compared to £8.2m in FY22.

- High proportion of revenue from Middle East, albeit on lower margin hardware, affecting forecast overall gross margin. While it is too early to determin at this stage, it is expected that as a result, Adjusted EBITDA will also be lower than market expectation.

- 391k Omnimesh modules delivered to customers.

- 46k NBIoT gateways and 63k cellular gateways delivered to customers.

- Orders of 2.3m Omnimesh modules received in FY23, compared to a total of 1.3m modules for all previous years.

Post Period Highlights:-

- Order received for 600k Omnimesh modules.

- Order book to date for India alone consists of 4.2 million units.

- Revenue for Q1 FY24 is expected to be greater than £2.8m, more than double the revenue for H1 FY23.

- 291k Omnimesh modules delivered in Q1 FY24.

- £3.6m cash received from customers in Q1 FY24.

Good luck all.

LTI.

John Cronin commented:-

" The financial year ending 31st March, 2023, marked another exceptional period for CyanConnode in terms of revenue and order bookings, continuing the forth consecutive year of growth. The positive momentum observed during the second half of the year, particularly in the final quarter, has carried over into the new financial year, predominantly in the Indian market. I am pleased to report that our revenue for Q1 FY24, already surpases H1 FY23, as we continue to fulfill our order book.

" While the Indian market remains our largest and most promising market, CyanConnode's global growth is ongoing, with significant interest across all markets. We anticipate providing further updates in our forthcoming set of results, which will be released in due course."

An encouraging Trading Update, I feel.

Good luck all.

LTI.

...... for the Financial Year ending 31st March, 2023, has been published:-

http://polaris.brighterir.com/public/cyan/news/rns/story/w9mdjdx

LTI.

Good evening Vas,

Thank you for the information on Tata Power, for their new contract award, in Chhattisgarh.

1,860,000 smart meters have been awarded for this smart meter project. So a realistic number, I feel, to look after and control, by all concerned.

Thank you for sharing the information, Vas.

LTI.

Also thanks to tightfist on ADVFN of confirmation of an Analyst Conference Call, on Thursday 6th July, at 12:30 pm IST ( India time ) in connection with GIC/Genus Power anouncement.

http://genuspower.com/wp-content/uploads/2023/07/Genus_Analyst_ConCall_Invite.pdf

Good luck all.

LTI.

Http://twitter.com/prashantnair/status/1676462449401409537

Thanks to homebrewruss on ADVFN.

An interesting discussion between CNBC and Genus Power, highlighting various aspects of the new business formed with GIC.

LTI.

It says on my mobile " Related " companies, that Silicon Laboratories Inc, has increased by 1.67%, to 160.37 USD. But they are listed, as you say, on the NASDAQ and are also in collaboration with CyanConnode, as we know.

http://polaris.brighterir.com/public/cyan/news/rns/story/x8eo5jx

So some positive news, with companies connected to the India Smart Meter Programme, specifically.

LTI.

This one, if you mean CyanConnode, is not on the Indian Stock Market. But the ripple effect should eventually reach these shores. For those that are patient, of course.

LTI.

..... have in some cases increased there share price today. Namely Genus + 19.98%, HPL + 15.65%, ( increased on yesterdays increases ), NCC + 2.23% and Silicon Labs + 1.67%. ( All at time of writing ).

Something seems to have spooked some shares into action. Genus and HPL have confirmed substantial orders recently, which prompted yesterdays increase.

An encouraging development, for the smart meter companies generally, it would seem.

Good luck all.

LTI.

Thank you gizmo. Can you post a link please and I will access it later.

LTI.

Good morning Vas and all,

An interesting amendment that the Ministry of Power thought they needed to address. That being the difference between " electric meters " from the original list, to include " smart meters " under its new preference list.

From the report:-

" The Ministry of Power has amended its earlier notification related to public procurement, which gives special preference to Make in India materials. The latest amendment notification has included smart meters under its preference list. Earlier electricity meters were in the list, but smart meters were not part of it."

So, it could be that a possible loop-hole has been closed.

Also, the fact that they have changed the wording from " electricity meters " to include the words " smart meters " this should also pave the way for the inclusion of smart water meters and smart gas meters.

In fact all utility meters should now be covered within this latest amendment.

Although it is only a relatively short report, they have used the word " Procurement " on I think, 4 occasions. Zeus used a similar terminology in March 2023, I seem to remember, within their CyanConnode " The smart choice " report.

Still, it is good that the Ministry of Power have addressed what they seem to think, needs addressing.

Thanks for sharing the report, Vas. It was appreciated.

LTI.

.... has tweeted:-

" Check out our MD & CEO @RGarapati's interview in @DunBradstreet's " The next big leap". Learn about @CyanConnode's role in #India's #SmartMetering sector, our challenges and victories and our emphasis on security & #sustainability."

http://twitter.com/CyanConnode_Ind/status/1676127255116824577

LTI.

..... during December 2022, interestingly confirms that Malaysia, along with Africa, UAE, Cambodia, Bangladesh, Indonesia and interestingly, the UK, are listed on the " New and other territories " page, along with further opportunities in Thailand and Sweden.

http://cyanconnode.com/wp-content/uploads/2022/12/CyanConnode-Investor-Pres-FY23-interims-v03.pdf

Some interesting times ahead, I feel. As do others, I am sure.

LTI.

Hello gizmo,

As long as they form an orderly queue and have access to a lot of cash, then CyanConnode will listen to any appropriate offer, I am sure.

But not just yet. There is still a lot that can be achieved, in my opinion.

LTI.

..... TNB ( Tenaga Nasional Berhad ) resumes smart meter installations.

http://smart-energy.com/industry-sectors/smart-meters/tnb-resumes-smart-meter-installations/

From the report, dated August 26th, 2021:-

" TNB launched its smart meter rollout in 2016, with an initial target of nationwide rollout by 2021. This was subsequently extended to 2026, to reach more than 9.1 million households."

LTI.

Http://gic.com.sg

Who knows, this collaboration between Genus Power and GIC, may help with any Singaporean, Malaysian or Far Eastern expansion plans, that may come into play in the future.

But for now, this will do nicely.

LTI.

Good afternoon all,

Another excellent find, with contributions from gizmo and homebrewruss. It is much appreciated.

LTI.

Another great find Vas and thank you for sharing it.

Gautam Seth, the Joint Managing Director and CFO, for HPL, goes on to comment, " We are delighted to secure these additional, prestigeous smart meter orders, achieving another milestone in our efforts to be at the forefront of India's smart-meter implementation."

Genus and HPL have confirmed smart meter orders and IntelliSmart has a confirmed, smart meter tender. It is good to see and to follow CyanConnode's Partners, on their smart meter journey, concerning the India Smart Meter Programme.

Long may it continue.

LTI.

Good morning Vas and all,

I would say as far as the 99.5% SLA's is concerned, that is just one of the characteristics of the CyanConnode Omnimesh solution. But I would think that this requirement has to be achieved by all participating companies that provide equipment, connected to the India Smart Meter Programme. Including solutions providers, smart meter manufacturers and the companies that provide all the " bells & whistles " that go into making the whole process function.

But the " ..... following metrics will be considered for SLA in case of disaster for application availability, recovery point objective ( RPO ) and recovery time objective ( RTO ) Application Availability 99.5% " is a requirement I have not seen before.

But thank you for the overall information.

LTI.

Good evening all,

An excellent find gizmo and thank you Vas for the follow-up.

And an interesting comment from the report that " This positive trend bodes well for Genus Power Infrastructures, as the company anticipates a surge in orders throughout the upcoming quarters of FY24."

Very encouraging.

LTI.