Company Overview

Seshaasai Technologies Limited (formerly Seshaasai Business Forms Limited) is a technology solutions provider operating in three business verticals: Payment Solutions, Communication & Fulfillment Solutions, and IoT Solutions. The company completed its IPO in September 2025 and is listed on BSE (Scrip Code: 544533) and NSE (Symbol: STYL).

Financial Performance (FY 2025-26)

Consolidated Results:

  • Revenue from Operations: ₹14,411.35 million (FY2025: ₹14,631.51 million)
  • EBITDA: ₹3,940.88 million with EBITDA margin of 27.35%
  • Profit After Tax: ₹2,400.10 million, recording 8.0% growth over previous year

Standalone Results:

  • Revenue from Operations: ₹14,405.58 million
  • Net Profit: ₹2,437.35 million, up 10% from ₹2,222.10 million in FY25
  • Earnings Per Share (Basic): ₹15.70 (FY25: ₹15.05)

Dividend Declaration

The Board recommended a final dividend of ₹2.50 per equity share for FY2025-26, resulting in a cash outflow of approximately ₹404.51 million. The Record Date for dividend payment is August 18, 2026, subject to shareholder approval at the 33rd AGM.

IPO and Capital Structure

The company successfully completed its Initial Public Offer in September 2025:

  • Total issue size: 1,92,26,541 equity shares at ₹423 per share
  • Fresh issue: 1,13,52,526 equity shares aggregating ₹4,800.03 million
  • Offer for sale: 78,74,015 equity shares aggregating ₹3,330.71 million
  • Pre-IPO placement: 28,36,800 equity shares raising ₹1,199.97 million

Debt Reduction and Utilization of IPO Proceeds

Significant Debt Reduction:

  • FY25 Total Borrowings: ₹3,786.83 million
  • FY26 Total Borrowings: ₹824.52 million - 78% reduction

IPO Proceeds Utilization:

  • ₹3,000.00 million for repayment of borrowings (100% of allocated amount)
  • ₹550.56 million for capital expenditure
  • Total utilized: ₹4,055.20 million out of ₹6,000.00 million

Business Segment Performance

Revenue Breakdown:

  • Payment Solutions: ₹7,196.20 million (49.9% of operating revenue)
  • Communication & Fulfillment Solutions: ₹5,611.24 million (38.9%)
  • IoT Solutions: ₹1,537.67 million (10.7%)

The company served 1,144 customers with 96.56% of revenue from existing customers. Top 10 customers contributed 62.69% of revenue.

33rd Annual General Meeting Details

The 33rd AGM will be held on September 16, 2026 virtually through Video Conferencing/Other Audio Visual Means. Key agenda items include:

Appointment of Secretarial Auditor:

  • Proposal to appoint Ms. Pauravi Kairav Trivedi for 5 years at ₹75,000 per annum plus taxes

Director Remuneration:

  • Commission up to 1% of net profits to Non-Executive Directors
  • Special remuneration of ₹75 lakh to Mr. Jayeshkumar Shah for FY 2026-27

Articles of Association Amendments:

  • Proposal to allow shareholders to waive/forgo dividend receipt
  • Enabling facility for voluntary dividend waiver without affecting other shareholders' entitlements

Operational Highlights

  • Maintained relationships with major banking institutions including public-sector banks, small finance banks, and private banks
  • Added 21 new accounts in Payment Solutions business
  • IoT Solutions business grew approximately 45% and added 65 new accounts
  • Received GSMA SAS-UP certification for SIM/eSIM manufacturing capabilities

Corporate Governance and Compliance

The company complied with SEBI Listing Regulations and Companies Act, 2013 requirements. All regulatory filings were made with BSE and NSE. The Board consists of 6 Directors including 3 Independent Directors.

Subsequent Events and Outlook

The company continues to focus on growth across its three business verticals while maintaining strong relationships with existing customers and expanding its client base through strategic initiatives.