Key Financial Results (Amount in ₹ Lakhs)
Income Statement Highlights:
- Total Revenue: ₹1,166.48 lakhs for H1 FY27 (compared to ₹2,268.02 lakhs for FY26 and ₹1,282.82 lakhs for H1 FY26)
- Revenue from Services: ₹1,093.67 lakhs for H1 FY27
- Other Income: ₹72.81 lakhs for H1 FY27
- Total Expenses: ₹1,341.26 lakhs for H1 FY27 (Employee benefits: ₹987.99 lakhs, Depreciation: ₹40.43 lakhs, Other expenses: ₹312.80 lakhs)
- Loss before tax: ₹(174.78) lakhs for H1 FY27 (compared to profit of ₹332.47 lakhs for FY26 and ₹475.18 lakhs for H1 FY26)
- Net Loss: ₹(177.41) lakhs for H1 FY27 (compared to profit of ₹234.95 lakhs for FY26 and ₹355.48 lakhs for H1 FY26)
- Basic and Diluted EPS: ₹(2.38) for H1 FY27 (compared to ₹3.71 for FY26 and ₹6.16 for H1 FY26)
Balance Sheet Position (as of 30th September, 2026):
- Total Equity: ₹5,278.64 lakhs (Share Capital: ₹746.79 lakhs, Reserves: ₹4,531.85 lakhs)
- Total Liabilities: ₹5,566.79 lakhs
- Total Assets: ₹5,566.79 lakhs
- Current Assets: ₹4,215.11 lakhs (Cash & cash equivalents: ₹2,235.27 lakhs, Inventories: ₹1,458.12 lakhs)
- Non-Current Assets: ₹1,351.68 lakhs (Investments: ₹691.94 lakhs, Property Plant & Equipment: ₹343.41 lakhs)
Cash Flow Statement:
- Net Cash from Operating Activities: ₹(298.07) lakhs
- Net Cash from Investing Activities: ₹258.89 lakhs
- Net Cash from Financing Activities: ₹(0.52) lakhs
- Net decrease in Cash: ₹(39.70) lakhs
- Closing Cash Balance: ₹120.46 lakhs
IPO Fund Utilization
The company raised ₹39.90 crores through an IPO comprising a fresh issue of ₹32.70 crores and an Offer for Sale of ₹7.20 crores, listed on BSE SME Platform on 5th December 2025.
Utilization as of 30th September, 2026:
- Total raised: ₹3,990.47 lakhs
- Total utilized: ₹2,106.51 lakhs
- Pending utilization: ₹1,883.96 lakhs
Breakdown of Fund Utilization:
- Capital Expenditure on physical infrastructure: ₹98.09 lakhs utilized of ₹185.83 lakhs allocated
- Investment in Human Resources: ₹308.02 lakhs utilized of ₹1,527.55 lakhs allocated
- Capital expenditure on IT infrastructure: ₹165.80 lakhs utilized of ₹417.41 lakhs allocated
- Business development and marketing: ₹61.89 lakhs utilized of ₹250.00 lakhs allocated
- General Corporate Purposes: ₹350.35 lakhs utilized of ₹487.32 lakhs allocated
- Public Issue Expenses: ₹402.08 lakhs fully utilized
- Offer for Sale: ₹720.28 lakhs fully utilized
Regulatory Compliance and Certifications
The company submitted:
1. Unaudited Financial Results for half-year ended 30th September, 2026
2. Statement of assets and liabilities as on 30th September, 2026
3. Cash Flow Statement for the period
4. Limited Review Report from Statutory Auditors (SUV & Co., FRN: 029077N) with unmodified opinion
5. Statement of NIL Deviation/Variation under Regulation 32 of SEBI LODR
6. Statutory auditor certificate under Regulation 262(5) & (6) of SEBI ICDR Regulations on IPO funds utilization
7. Declaration regarding unmodified opinion on unaudited Financial Results
The Audit Committee and Statutory Auditors confirmed no deviation or variation in the utilization of IPO proceeds from the objects stated in the offer document.
Business Context
The company is engaged in providing outsourced software development and technology solutions, including Cloud Engineering, Artificial Intelligence and Machine Learning (AI/ML), UI/UX Design, and Application Development services to enterprises and startups globally. These activities constitute a single reportable segment.