Euphoria Infotech India Limited IPO

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Euphoria Infotech (India) Limited, based in Kolkata, West Bengal, has been a pioneering force in the IT and ITes sector since its inception in 2001. The company, founded by Mr. Shamba Bhanja, has been at the forefront of technological innovation, focusing on multiple facets of networking, software design, quality assurance, and internet technology.

Core Areas of Expertise

  1. Customized Software Solutions: Euphoria excels in creating tailored web applications for various sectors. These applications cater to diverse needs, such as online recruitment, urban local body services, and university management systems.
  2. E-Commerce Solutions: The company has established a strong foothold in the e-commerce sector, offering comprehensive services from online sales platforms to logistics and inventory management.
  3. Internet of Things (IoT): Euphoria has delved into IoT, providing innovative solutions like IoT-based dashboards for Sewerage Treatment Plants (STP), enhancing industry-specific processes.
  4. Artificial Intelligence and Machine Learning: The company is actively involved in AI and ML, leveraging these technologies to create more intelligent and efficient systems.
  5. Citizen-Centric Applications: Euphoria Infotech is committed to developing applications that serve the public, making governmental services more accessible and efficient.

Expansion and Collaboration

  • Technology Partnership: The company has formed strategic alliances with government and financial organizations, becoming a technology partner for over 100 municipalities in West Bengal.
  • Global Reach: In 2018, Euphoria expanded to Bangladesh, establishing a JV company to contribute to projects aimed at citizen betterment and ease of work.
  • Webel Technologies Limited Partnership: Euphoria Infotech is a channel partner of Webel Technologies Limited, further strengthening its government ties and project acquisition capabilities.

Service Offerings

Euphoria’s services span a wide range, including:

  • University and School Management: Managing student life cycles, academic and administrative processes.
  • Recruitment Management: Hosting and managing online/offline exams and recruitment processes.
  • Enterprise Resource Planning (ERP): Offering customized ERP solutions for various industries.
  • Transport Management: Developing systems for online ticketing and fleet management.
  • Citizen-Centric Portals: Implementing systems for property tax management, e-mutation, and more.
  • Mobile and Web Applications: Developing diverse applications to enhance business and consumer experiences.

Core Strengths and Success Factors

Euphoria Infotech’s success is attributed to its strong client relationships, industry expertise, and a team of proficient IT professionals. The team’s dedication to continuous research and development ensures that they stay ahead in the rapidly evolving IT landscape. This commitment has enabled Euphoria Infotech to source new business opportunities and maintain a high client retention rate.

Future Prospects

Euphoria Infotech aims to leverage the latest technological advances to expand its reach, both in India and globally. The company is dedicated to providing solutions that promote business growth, efficiency, and technological advancement, thereby contributing significantly to the IT and ITes sectors.

Objects of the Euphoria Infotech India Limited IPO:

The company intends to utilize the Net Fresh Issue Proceeds for the following Objects i. Working Capital requirement; and ii. General Corporate Expenses
DRHP of Euphoria Infotech India Limited IPO
RHP of Euphoria Infotech India Limited IPO

Euphoria Infotech India Limited IPO Details:

Open Date: Jan 19 2024
Close Date: Jan 23 2024
Total Shares: 960,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 9.60 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 96 - 100 Per Equity Share
Listing At: BSE SME
Listing Date: Jan 29 2024

Promoters And Management:

Mr. Shamba Bhanja, aged 52 years, is Promoter and Managing Director of the Company. He is the Founder of Euphoria Infotech (India) Private Limited. He holds a Master degree in Science from the University of Calcutta. He has extensive knowledge and experience in the field on software, IT and ITes of over two decades. He has expertise in the domain of telecom, education, government services, Internet of Things (IoT), Transport Management, Production and Supply Chain Management. The is the key behind the success of the Company at the present level. He is responsible for overall strategic planning, growth initiatives and execution of projects at the Company. Mr. Bappaditya Dasgupta, aged 48 years is a Wholetime Director of the company. He holds a graduate degree in Physics from University of Calcutta. He has over two decades of experience in Software development, process delivery, quality control and data analytics. He plays a key role in the execution of projects and day to day operations of the Company. Mr. Priyabrata Seal, aged 47 years, is a Wholetime Director of the Company. He is a holds a Masters degree in Multimedia Development from University of Jadavpur. He is having about 20 years of experience in the areas of project management, system architecture and account management. He plays a key role in the execution of projects and day to day operations.

Financials of Euphoria Infotech India Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
6M-FY24
Revenue from Operations 555 465 737 365
Other Income 1 29 0.8 0.1
Total Revenue 556 494 738 366
Changes in inventories 179 143 197 53
Employees Benefit Expenses 179 161 209 131
Other Expenses 139 136 115 77
EBITDA 59 54 216 104
Depreciation & Amortisation 9 6 8 4
Finance costs 18 18 32 13
EBIT 50 48 207 101
OPM (%) 10.65% 10.94% 29.22% 28.58%
PBT 32 30 176 88
Tax 8 9 46 27
PAT 26 20 130 60
NPM (%) 4.71% 4.03% 17.58% 16.54%
No.of Shares 29.01 29.01 29.01 29.01
EPS 0.90 0.68 4.46 2.08

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Euphoria Infotech (India) Limited 7 1 4.46 22.4 100 29
Infobeans Technologies Limited 385 36 14.83 50.4 451 1,096
Xchanging Solutions Limited 174 45 4.03 55.0 113 1,254
* All the data is as per FY23.

Recommendation on Euphoria Infotech India Limited IPO:

Review and Recommendation of Euphoria InfoTech SME IPO by IZ team is 2/10

Lead Manager of Euphoria Infotech India Limited IPO:

  1. Khandwala Securities Limited

Registrar of Euphoria Infotech India Limited IPO:

  1. MAS Services limted

Company Address:

Euphoria Infotech India Limited Bengal Eco Intelligent Park, Building, Tower I, EM-3, Unit 16, 13th Floor Sector V, Salt Lake City, Kolkata 700091 Phone: +91 33 4602 1034 Email: cs@euphoriainfotech.com Website: https://www.euphoriainfotech.com/

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