Performance Highlights

Financial Performance (Consolidated, ₹ in Crores):

  • Total Income: ₹78.02 Cr in Q1 FY27 vs ₹63.20 Cr in Q1 FY26, representing 23.45% YoY growth
  • Operational Expenses: ₹2.86 Cr in Q1 FY27 vs ₹12.06 Cr in Q1 FY26, representing -76.30% YoY change
  • Employee Benefits Expense: ₹42.97 Cr in Q1 FY27 vs ₹34.27 Cr in Q1 FY26, representing 25.40% YoY growth
  • Other Expenses: ₹15.14 Cr in Q1 FY27 vs ₹7.84 Cr in Q1 FY26, representing 93.10% YoY growth
  • Total Expenditure: ₹60.97 Cr in Q1 FY27 vs ₹54.17 Cr in Q1 FY26, representing 12.56% YoY growth
  • EBITDA: ₹17.05 Cr in Q1 FY27 vs ₹9.03 Cr in Q1 FY26, representing 88.79% YoY growth
  • EBITDA Margin: 22.22% in Q1 FY27 vs 14.39% in Q1 FY26, expanding 782 bps
  • Depreciation & Amortisation: ₹2.41 Cr in Q1 FY27 vs ₹1.95 Cr in Q1 FY26, representing 23.38% YoY growth
  • Finance Costs: ₹1.52 Cr in Q1 FY27 vs ₹1.29 Cr in Q1 FY26, representing 17.73% YoY growth
  • Profit Before Tax: ₹13.12 Cr in Q1 FY27 vs ₹5.79 Cr in Q1 FY26, representing 126.65% YoY growth
  • Tax: ₹3.12 Cr in Q1 FY27 vs ₹1.75 Cr in Q1 FY26, representing 78.03% YoY growth
  • PAT: ₹10.01 Cr in Q1 FY27 vs ₹4.04 Cr in Q1 FY26, representing 147.71% YoY growth
  • PAT Margin: 13.04% in Q1 FY27 vs 6.44% in Q1 FY26, expanding 656 bps
  • EPS (Rs.): ₹0.79 in Q1 FY27 vs ₹0.16 in Q1 FY26

Key Business Highlights:

  • Purchase of Stock-in-Trade declined approximately 75% YoY (₹2.80 Cr vs ₹11.19 Cr), indicating accelerated transition from hardware reselling to proprietary software platforms
  • Strengthened AI & software-led business mix with increasing contribution from proprietary AI platforms and recurring digital solutions
  • Revenue mix tilting toward higher-value, long-duration engagements, strengthening revenue visibility and operating leverage

Business Overview

Company Background:

  • 30+ years of IT excellence with 1500+ qualified IT professionals
  • 4000+ projects delivered successfully
  • Leading end-to-end IT solutions provider with expertise in cognitive computing, hyperautomation, robotics, cloud, analytics, and emerging technologies
  • Strong presence in India (Ahmedabad, Mumbai, New Delhi) with wholly owned subsidiaries in Canada, USA, and UK

Business Segments:

1. Software Services: Custom apps, digital platforms, AI & cloud solutions for enterprises, IT Staffing & Workforce Management Services

2. Business Consulting Services: SAP, Odoo & Microsoft Dynamics for process automation

3. E-Governance Services: Digital India & state portals, smart city and citizen services

4. Cloud & Facility Management Services: Cloud migration, data center & IT infrastructure support

5. System Integration: LAN/WAN, IT infra & security solutions with global tech partners

Major Milestones:

  • 2023: Migrated to Main Board of NSE, BSE; Partnership with SAP Success; Setup Private Data Center in UK; Developed AI Products; Signed MOU with Gujarat Government

New Developments

AI4Pharma Tech Ltd (New Subsidiary):

  • Incorporated as new subsidiary focusing on pharmaceutical technology solutions
  • Developed 5 innovative products addressing compliance and quality control challenges in pharmaceutical manufacturing
  • Products Developed:
  • APQRSmart™: AI-powered solution for automated Annual Product Quality Review
  • Regulatory Compliance Platform: AI-powered chatbot for GMP data organization and FDA audit insights
  • Drug Development Platform: Real-time access to FDA-approved drug product data, API & DMF details, patent information
  • Batch Smart: AI-driven solution for pharmaceutical manufacturers using paper-based Batch Manufacturing Records
  • Label Smart: Advanced image recognition software for pharmaceutical artwork and label validation

Revenue Model for AI4Pharma:

  • Targeting potential market of 25,000 plants globally
  • Expected annual recurring revenue of ₹1-5 Crore per plant over next three years
  • Subscription-based SaaS model with monthly or annual billing
  • Enterprise Suite model with contract-based implementations (6 months, 1 year, or 3 years) supported by recurring AMC revenues

Recent Order Wins

Major Government Contracts:

1. Indian Navy: Upgrading from 20-year-old system to cloud-native, mobile-first digital platform supporting 1 lakh naval staff for personnel, leave, travel, asset, and document management

2. Uttar Pradesh Transport Department: Statewide e-governance project for end-to-end implementation of Smart Card Driving Licenses (SCDLs)

3. Ministry of External Affairs: Re-selected for decade-long partnership for redesign, migration, and maintenance of digital platforms with AI-driven features

4. Airport Authority of India: Securing data networks across 15 airports for data transmission between control towers, airport systems, and flights

5. Government of India: Creation of standardized digital framework for government portals across ministries and departments

6. Mumbai Customs (Zone III): AI-Enabled Digital Governance framework with multilingual chatbot for import/export processes

7. AIIMS New Delhi (CIMR): Unified digital platform for Centre for Integrative Medicine & Research

8. Government of Odisha: CM-KISAN portal development for farmer financial assistance and welfare benefits delivery

Financial Position

Consolidated Annual Balance Sheet (₹ in Crores):

Assets:

  • Non-Current Assets: ₹101.58 (FY26) vs ₹78.92 (FY25)
  • PPE & Intangible Assets: ₹51.55 (FY26) vs ₹56.46 (FY25)
  • Financial Assets: ₹33.32 (FY26) vs ₹17.64 (FY25)
  • Other Non-Current Assets: ₹16.71 (FY26) vs ₹4.82 (FY25)
  • Current Assets: ₹194.76 (FY26) vs ₹164.25 (FY25)
  • Inventories: ₹0.87 (FY26) vs ₹1.28 (FY25)
  • Financial Assets: ₹185.62 (FY26) vs ₹158.65 (FY25)
  • Other Current Assets: ₹8.27 (FY26) vs ₹4.32 (FY25)
  • Total Assets: ₹296.34 (FY26) vs ₹243.17 (FY25)

Liabilities & Equity:

  • Equity: ₹169.69 (FY26) vs ₹133.76 (FY25)
  • Non-Current Liabilities: ₹26.63 (FY26) vs ₹21.09 (FY25)
  • Financial Liabilities: ₹4.82 (FY26) vs ₹11.39 (FY25)
  • Provisions: ₹5.57 (FY26) vs ₹4.78 (FY25)
  • Deferred Tax Liabilities: ₹1.66 (FY26) vs ₹1.17 (FY25)
  • Other Non-Current Liabilities: ₹14.58 (FY26) vs ₹3.75 (FY25)
  • Current Liabilities: ₹100.03 (FY26) vs ₹88.32 (FY25)
  • Financial Liabilities: ₹53.97 (FY26) vs ₹53.33 (FY25)
  • Other Current Liabilities: ₹16.44 (FY26) vs ₹7.66 (FY25)
  • Provisions: ₹24.80 (FY26) vs ₹25.78 (FY25)
  • Current Tax Liabilities: ₹4.82 (FY26) vs ₹1.56 (FY25)

Strategic Direction

Way Forward Initiatives:

1. Deepen E-Governance Leadership: Expand role in Digital India programs and state-level projects

2. Technology & Innovation Focus: Invest in AI, Cloud, Cybersecurity, RPA & Data Analytics; Build IP-led solutions

3. Sustainable Growth Model: Drive recurring revenues via Managed Services & AMC; Focus on operational excellence

4. International Expansion: Strengthen presence in UK, Europe, USA & Canada; Scale Ai4Pharma across global pharma clients

5. Scalable Delivery & Talent Development: Enhance global delivery capabilities; Upskill workforce in emerging technologies

Board of Directors

  • Mr. Vipul Thakkar: Chairman & Managing Director (30+ years in E-Governance and Software Solutions)
  • Mr. Minesh Doshi: Whole-Time Director (30+ years in process and quality management)
  • Mr. Jignesh Patel: Whole-Time Director (30+ years in IT infrastructure, sales, and services)
  • Mr. Palak Shah: Whole-Time Director (30+ years in information systems planning)
  • Mr. Himanshu Jain: Whole-Time Director (30+ years in information technology and turnkey project delivery)