Hetang Shah aged 50 years, is the Chairman and Managing Director of the company. He holds degree of Bachelor of Commerce from Gujarat University. He has an experience of more than 2 decades in Investment Banking. His expertise includes experience of turning around Organisation, management of finance and business process, capital structuring. He has sound knowledge of finance and management with deep understanding of business process, capital structuring, Business planning and implementation and all these with use of extensive technology which makes him one of the most sought-after consultants of the present generation entrepreneurs. Hetal Patel, aged 36 years, is the Non-Executive director of the company. She holds degree of Bachelor of Commerce from Saurashtra University. She is presently acting as Director i.e Member of Board of Directors of Shri Vinayak Sahakari Bank Limited. Ekta Patel aged 35 years, is an Independent Director of the company. She has completed her Bachelor of Commerce from Gujarat University and completed her professional degree of Company Secretary from Institute of Company Secretaries of India (ICSI). She has knowledge in Company law, Labour laws and FEMA Law. She has experience in the field of Corporate Affairs and Secretarial works.

A. Balance Sheet

Particular (In Lakhs)	Mar-21	Mar-22	Mar-23
Equity Share Capital	1.00	309.53	557.15
Reserves	16	143	523
Borrowings	723	513	477
Trade Payables	6	328	473
Other Liabilities	27	206	388
Total Liabilities	756	1047	1338
Net Block	64	86	94
Capital Work in Progress	13	23	40
Other Assets	79	111	356
Total NC Assets	157	220	491
Receivables	15	480	720
Inventory	691	846	1317
Cash & Bank	1	10	11
Other Assets	2	76	53
Face value	10	10	10

B. Profit & Loss Statement

Particular (In Lakhs)	Mar-21	Mar-22	Mar-23
Sales	331	1,217	2,414
Purchase	11	483	1,835
Change in Inventory	6	-155	-471
Employee Cost	203	51	53
Other Expenses	26	560	29
Depreciation	4	10	17
Interest	58	72	64
Profit before tax	22	196	886
Tax	6	54	247
Net profit	16	141	640

C. Cash Flow Statement

Particular (In Lakhs)	Mar-21	Mar-22	Mar-23
Cash From Operating Activity	-64	3	127
Cash from Investing Activity	0	-31	-25
Cash from Financing Activity	5	11	-100
Net Cash Flow	-59	-17	2

 

*As on the date of this Red Herring Prospectus, there are no comparable peer which is listed companies in India and which are engaged in the same line of business.

Review and Recommendation of Sahana System by IZ team is 3/10 1. Sahana System Limited is established as "M/s. Oceans Technologies" partnership firm on March 1, 2013. Commenced operations on November 1, 2012. Converted to Sahana System Private Limited on February 20, 2020, under Companies Act, 2013. Converted to Sahana System Limited on April 5, 2022. 2. Industry and Sector: Registered under the "IT Services" Industry and "Product Development" sector. 3. Certifications and Accreditations: CMMI Maturity Level – 3 in E-Commerce department certified by Equalitas Certifications Limited, ISO 9001:2015 and ISO/IEC 27001:2013 accreditation received from Equalitas Certifications Limited. 4. Business Activities: Engaged in offering IT-related services, including web app development, mobile application development, AI & ML development, ChatBot development, product prototyping, graphics designing, UI/UX design, SEO & ASO, digital marketing, website & application migration, cyber security, and outsourcing of IT services. 5. Target Industries: Catering to industries such as healthcare, surveillance, retail, education/e-learning, restaurants, banking, media & entertainment, and fintech. 6. Trading: Involved in the trading of hardware instruments related to Franking Machines/Computers/LED/Laptops. 7. The Revenue has Increased from Rs.3.3 Crore in FY21 to Rs.24 Crore in FY23. 8. The EBITDA has Increased from 84 Lakhs in FY21 to 9.7 Crore in FY23. 9. The PAT has Increased from 16 Lakhs in FY21 to 6.4 Crore in FY23. 10. As per FY23, CFO/EBITDA is 0.73 and Debtors Days is 109. 11. As per FY23, EPS is 7.99, Market Capitalization is 107.95 Crore & P/E is 16.87x 12. The company is raising funds for the EV installation business which is not even started, so very risky how much return this business can generate.

Sahana System Limited 901-A-Block, Mondeal Square, Nr. Iscon Elegance, S.G. Highway, Prahladnagar Ahmedabad - 380015 Phone: +91 79 4601 4490 Email: cs@sahanasystem.com Website: http://www.sahanasystem.com/