Vertexplus Technologies Limited IPO

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i. Vertexplus Technologies is engaged in consulting, outsourcing, infrastructure and digital solutions and services. They collaborate with companies to fulfil their ever-evolving Information Technology needs and support their business with its enabling solutions to strengthen their current capabilities and build pathways for sustainable growth. The company has experience across various industry sectors.

ii. VertexPlus endeavours to bring together creativity and knowledge with positive business strategy to furnish the requirements of diverse customers with an inclusive range of products and services which are comprehensive and cost effective so that the client can focus on their core-competencies to improve or expand their businesses. VertexPlus has worked for numerous industries, realized their true potential and scale to global recognition.

iii. The company ensure quality and time delivery in the most cost-effective manner in order to determine the success of complex enterprise projects through five delivery models:
a) Off-shore Model
b) On-site Model
c) Hybrid Model
d) Global Model
e) Strategic Partnerships

iv. For the year ended March 31, 2022, the Company’s Total Consolidated Income and Restated Consolidated Profit after Tax were Rs. 2132.04 Lakhs and Rs. 186.05 Lakhs respectively. For the year ended March 31, 2021, the Company’s Total Consolidated Income and Restated Consolidated Profit after Tax was Rs. 2025.61 Lakhs and Rs. 104.98 Lakhs, compared to the Company’s Total Consolidated Income and Restated Consolidated Profit after Tax of Rs. 1978.33 Lakhs and Rs. 61.23 Lakhs respectively, over previous year ended i.e. March 31, 2020.

Competitive Strengths

i. Global Delivery Network
ii. Leveraging the experience of our Promoter
iii. Existing client relationship

 

Objects of the Vertexplus Technologies Limited IPO:

The company intends to utilize the proceeds of the Issue to meet the following objects: - i. To Meet Working Capital Requirement ii. General Corporate Purpose iii. To Meet the Issue Expenses  

Vertexplus Technologies Limited IPO Details:

Open Date: Mar 02 2023
Close Date: Mar 06 2023
Issue Type: Book Built Issue IPO
Issue Size: 14.20 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 91-96 Per Equity Share
Listing At: NSE Emerge
Listing Date: Mar 15 2023

Promoters And Management:

i. Mr. Sandeep Kumar Pahariya, aged 44 years is Chairman cum Managing Director and also the Promoter of the Company. He holds a Master’s Degree in International Business Management and in addition to professional qualifications from C-DAC (Centre for Development of Advanced Computing) & IIQM (Indian Institute of Quality Management). He was appointed on the Board on October 20, 2010 and further designated as the Chairman cum Managing Director of the Company on September 05, 2022 for a period of 5 years not liable to retire by rotation. He is having 24 years of experience in the IT Industry. He has been instrumental in taking major policy decisions of the Company. He is playing a vital role in formulating business strategies and effective implementation of the same. He is responsible for the expansion and overall management of the business of the Company. With his vast and extensive experience in the IT industry spanning around two decades, he leads the global operations of the organization including strategic planning, team mentoring and business administration. Beyond his extraordinary expertise in technical & development domains, he holds great command on the emerging technologies and innovation in IT space. ii. Mrs. Niru Pahariya, aged 44 years, is the Whole Time Director of the Company. She holds Bachelor degree in Commerce and Diploma in Naturopathy and Yoga. She was originally appointed on the Board on October 20, 2010 as Director and further designated as the Whole-Time Director of the Company on September 05, 2022 for a period of 5 years liable to retire by rotation. She is having of experience of 12 years in administration and human resource. iii. Mr. Samyak Jain, aged 18 years is the Non-Executive Director of the Company. He holds degree in Senior Secondary. He was appointed on the Board as Additional Executive Director w.e.f., May 16, 2022 and further regularised as the Executive Director of the Company on May 24, 2022. Further designated as Non-Executive Director w.e.f. September 05, 2022. He has no previous experience.  

Financials of Vertexplus Technologies Limited IPO:

Particulars ( In Crore ) 2022 2021 2020
Revenue from Operations 20 19 19
Other Income 0.4 0.6 0.4
Total Revenue 21 20 19
Cost of Material Consumed - - -
Change in Inventories - - -
Employee Benefits Expense 15 17 16
Other Expenses 2 0.9 1
EBITDA 3 2 1
Depreciation & Amortisation 0.3 0.1 0.1
Finance Cost 0.4 0.4 0.5
EBIT 2 1 1
OPM (%) 15.21% 10.49% 7.74%
PBT 2 1 0.8
Taxes 0.6 0.4 0.3
PAT 1 1 0.6
NPM (%) 8.73% 5.18% 3.10%
No.of Shares 0.54 0.54 0.54
EPS 3.39 1.91 1.11
P/E 28.27 50.11 85.91

Comparison With Peers:

Name of the Company Revenue (Cr) Profit (Cr) P/E EPS CMP Mcap (Cr)
Vertexplus Technologies Limited 20 1 28.27 3.39 96 52
Ksolves India Limited 45 15 22.9 12.88 425 504
Sigma Solves Limited 41 14 22.20 8.70 191 196

Recommendation on Vertexplus Technologies Limited IPO:

Review and Recommendation of Vertexplus Tech by IZ team is 1. Vertexplus Technologies Limited is engaged in consulting, outsourcing, infrastructure and digital solutions and services. They work with enterprises to meet their ever-changing IT needs and help them expand by providing enabling solutions. It has experience in many industries. 2. VertexPlus has helped several industries achieve their potential and grow globally. An integrated, intelligent technology stack that automates and accelerates operations empowers organisations to think beyond the usual. 3. They use five delivery models to ensure quality, timeliness, and cost-effectiveness for big corporate projects:- · Off-shore Model                        · On-site Model                      · Hybrid Model · Global Model                             · Strategic Partnerships 4. The Revenue has Increased from Rs.19 Crore in FY20 to Rs 21 Crore in FY22. 5. The EBITDA has Increased from 1 Crore in FY20 to 3 Crore in FY22. 6. The PAT has Increased from 60 Lakhs in FY20 to 1 Crore in FY22. 7. As per FY22, CFO/EBITDA is 45% and Debtors Days is 45. 8. As per FY22, EPS is 3.39,  Market Capitalization is 52 Crore & P/E is 28.27x.

Lead Manager of Vertexplus Technologies Limited IPO:

  1. Beeline Broking Limited

Registrar of Vertexplus Technologies Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Vertexplus Technologies Limited B-19, 10-B Scheme, Gopalpura Road Jaipur - 302018 Phone: +91 141 6622200 / 02 Email: support@vertexplus.com Websitehttps://www.vertexplus.com/global/en/

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