I am excited to share our first annual communication since our listing. Quess has had aseries of exciting wins and closed the year on a strong note. We are committed to buildingan enduring institution and hence consciously stay away from a quarterly approach.
We have reason to be proud of Quess' transformation as India's premier businessservices provider with Revenue growth of 7x EBITDA growth of 8x and PAT growth of 14xover the past 5 years. This is a testament to our ability to evolve in a rapidly changingmarket through a judicious mix of organic growth laser-focus on cost and strategicacquisitions to add to our capabilities and service offerings.
Our Guiding Principles
While we are thankful for our results we are more grateful for the unique culture thatwe have at Quess. Business we believe has the potential to be a force for the good if weprovide outstanding service to customers nurture our employees and provide a fair returnto our shareholders. We focus on the long term and not compromise on integrity in anyrelationship. We have a prudent capital allocation strategy again one of the values coreto the Quess DNA. Our guiding principles have served us well over the past 10 years andform the bedrock on which Quess stands.
Highlights of FY 2016-17
In FY 2016-17 our revenue grew to Rs. 4157 Cr from Rs. 3435 Crin FY 2015-16 a growth of 21%.
EBITDA grew to Rs. 223 Cr a growth of 47% translating to an EBITDAmargin of 5.4% a growth of 96 bps over the last year.
Our PAT grew to Rs. 113 Cr from Rs. 81 Cr in 2015-16 a growth of40%. Our PAT margins improved by 36 bps and we closed the year with 2.7% margins.
Our employee count stood at 189200 a growth of 54% over the last year.
Our operating businesses continue to solidify market leadership positions and break newground. Our People & Services business grew by 20.3% to ' 2345 Cr while EBITmargins improved by 93 bps to 4.6%. Global Technology Services business saw a revenuegrowth of 28.4% to ' 1183 Cr while EBIT margins improved to 7.0%.
Our cash flow from operations increased to ' 74 Cr in FY 2016-17 from negativeRs.50 Cr while free cash flow increased to Rs.36 Cr compared to negative cash flow ofRs.72 Cr in FY 2015-16. We have a strong balance sheet with a healthy leverage ratio(Gross debt to Equity) of 0.87x and Cash and Bank balance of Rs.460 Cr.
We closed the year with 6 acquisitions that enabled us to add new service linecapabilities expand our client base and operate in new geographies. The acquisition ofManipal Integrated Services has consolidated our position as a leader in the facilitymanagement space.
We forayed into manned guarding and electronic security.