Quicktouch Technologies Limited IPO
i. Quicktouch Technologies Limited is an information technology company, helps customers do business better by leveraging industry-wide experience, deep technology expertise, comprehensive portfolio of services and robust business model.
ii. The Company is in the business of Software IT Solution and Consulting Services, IT Product / Software Development and Software Commercial Training, Web designing. Web designing services include: Website Designing/ Redesigning, iOS App/ Android/ Mobile App Development, Digital Marketing, Web Hosting Services. The company has leveraged its domain expertise, processes and infrastructure to diversify our offering of services to cater to a variety of business sectors.
iii. The Company is engaged in the business of Enterprise Resource Planning (ERP) – A school management software and mobile apps that help simplify administration and organization. The concept of ERP and businesses are described as under:
i. EIMS 9.0 ERP Concept
ii. EIMS® ERP Software
iv. Applications: EIMS- Educational Institute Management System
i. Integrated Software Modules
ii. Interactive Web Portal
iii. SMS Messaging
iv. GPS Tracking
v. Smart Cards
vi.. API Integrations
i. Experienced Promoter and a well-trained employee base
ii. Quality Policy
iii. Strengthen human capital
Objects of the Quicktouch Technologies Limited IPO:
Quicktouch Technologies Limited IPO Details:
|Open Date:||Apr 18 2023|
|Close Date:||Apr 21 2023|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Fixed Price Issue IPO|
|Issue Size:||9.33 Cr.|
|Lot Size:||2000 Shares|
|Issue Price:||₹ 61 Per Equity Share|
|Listing At:||NSE Emerge|
|Listing Date:||May 02 2023|
Promoters And Management:
Financials of Quicktouch Technologies Limited IPO:
|Particulars ( In Lakhs )||2022||2021||2020||2019||2018|
|Revenue from Operations||2545||727||266||140||123|
|Cost of Material Consumed||70||211||74||-||-|
|Purchases of Stock-in-trade||-||-||-||-||-|
|Changes in Inventories||-||-||-||-||-|
|Employee Benefits Expense||136||60||58||52||48|
|Depreciation & Amortisation||114||103||37||29||38|
Comparison With Peers:
|Name of the Company||Revenue (Cr)||Profit (Cr)||P/E||EPS||CMP||Mcap (Cr)|
|Quicktouch Technologies Ltd||25||2||15.94||3.83||61||35|
|Silver Touch Technologies Ltd||128||6||58.7||4.82||352||446|
|Sigma Solve Ltd||41||14||21.2||8.7||182||187|
|Cambridge Technology Enterprises Ltd.||112||10||8.09||4.99||50.6||99.2|
Lead Manager of Quicktouch Technologies Limited IPO:
Registrar of Quicktouch Technologies Limited IPO:
Discussion on Quicktouch Technologies Limited IPO:
1. The company is in the business of software designing, development, customization, implementation, dealing in computer software & solutions, but they have no board members with a technical expertise.
2. Litigation Against the Promoters- On February 18, 2019, Mr. Gaurav Jindal, Promoter and Director of the Company booked and arrested as accused under Section 69 of Central Goods and Services Tax (‘CGST Act, 2017) for violation of Section 132, 7, 16(2), 31, 32, 35, 37,38 and 39 of the CGST Act 2017. It was alleged that Mr. Gaurav Jindal, while acting as one of the Director of M/s. GJA Industries Limited (now name changed to M/s. Whitecliff Industries Limited) and few other companies has violated the provisions of Section 132 of CGST Act 2017 to the tune of ₹ 8.85 Cr
3. In fiscal year 21-22, their EBITDA margins were only 15%, which is extremely low for an IT company. In Fy222, 19 Cr or 76% of expenses, was allocated to Other Expenses, while Employee benefit expenses were only 5.3% of the revenue. In most IT companies, the cost of employee benefits exceeds 50 percent, indicating that they outsource the majority of their work to other IT companies on the market and getting meagre commission.
4. The revenue has jumped suddenly from 2 Cr in Fy20, to 7 Cr in Fy21 and 25 Cr in Fy22.
5. Current Ratio is less than 1. That means current liabilities are more and current assets are less. Liquidity problem might come.
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