(i) Mr. Bharat Shamjibhai Patel, aged 62 years, is Chairperson of the Company. He was appointed as Chairperson and Whole Time Director of the Company for 3 years w.e.f September 01, 2022. Mr. Bharat Shamjibhai Patel holds a formal Engineering degree in the field of Electronics and Communications from Gujarat University. He pursued research at Bhabha Atomic Research Centre, Trombay and Space Application Centre ISRO for designing Microcomputers and Integrated Circuits. Being a passionate and ambitious personality with a stout combination of more than 3 decades of technical experience and entrepreneurial aptitudes. (ii) Mr. Chirag Rajendrakumar Leuva, 37 years, is the Executive Director and Chief Executive Officer of the Company. He was appointed as Chief Executive Officer of the company w.e.f. September 01, 2022. He holds the degree of Masters of Computer Science and Applications – 2009 from Nirma University, Institute of Science and Technology. Mr. Chirag Rajendrakumar Leuva has the experience of more than 12 years in the industry. He is one of the founding members of the Yudiz Solutions Limited. He is having a leadership quality of managing more than 400 employees. (iii) Mr. Pratik Bhaskarbhai Patel, 36 years, is the Managing Director of the Company. He was appointed as Managing Director w.e.f. September 01, 2022. Mr. Pratik Bhaskarbhai Patel holds the degree of Masters of Computer Science and Applications – 2010. It was during his 2nd Year of Masters when Pratik began his entrepreneurial journey and started his own company with the name of Yudiz Solutions, which is now working as IT Solution Provider in various segments such as game development, mobile app development and Blockchain projects. He is a business leader and coordinates among the various verticals of the company and guides the company in securing growth amidst business challenges. His passion involves public speaking and creating effective business strategies. He is an ardent fan of various sports, a keen traveller and a socially inclined being. With his strong networking skills, he has helped Yudiz to reach where they currently stand and holds a key pillar for the roadmap ahead.

P&L Statement
Particulars (in Lakhs)	2023	2022	2021
Revenue From Operations	2,731	1,876	1,283
Employees Benefit Expenses	1,675	1,276	887
Other Expenses	454	378	261
EBITDA	602	222	135
OPM	22.04%	11.83%	10.52%
Other Income	13	5	23
Depreciation	233	96	68
Finance Cost	21	14	8
PBT	361	117	82
Tax	86	43	0
PAT	275	74	82
NPM	10.02%	3.93%	6.28%
Shares	103.19	103.19	103.19
EPS	2.66	0.72	0.79

 

Name of the Companies	Revenue (Cr)	Profit (Cr)	EPS	P/E	CMP	MCap
Yudiz Solutions Limited	27	2.75	2.6	63.46	165	170
Dev Information Technology Limited	124	9	4.06	31.5	128	283
Nazara Technologies Limited	1091	61	7.3	98.6	720	4,764
Silver Touch Technologies Limited	166	10	7.6	51.8	394	499
Sigma Solve Ltd.	55	15	9.6	50.4	486	499
KSolves India Ltd.	77	25	20.9	49.7	1,117	1,325

*All the Data as per FY23

Review and Recommendation of Yudiz Solutions Limited SME IPO by IZ team is 4/10. 1. Yudiz Solutions is an IT solutions provider to businesses' unique needs, with a focus on scalability and security. 2. They do Web Development, Mobile App Development, Game Development,  Blockchain Solutions,  and AR/VR. 3. As on 31.03.2023, the contingent liabilities is ~4 Cr. The Company has given corporate guarantee to bank for loan taken by others and balance outstanding. When the guarantee is called upon, it results in a negative impact." 4. "Approximately 6 Cr from the IPO proceeds will be allocated towards potential acquisitions, either in India or abroad. This presents a significant risk to shareholders. Should the company fail to identify a promising business opportunity, it could negatively impact its operations, leading to financial losses and a decline in wealth." 5. "Approximately 6 Cr from the IPO funds will be allocated to create a gaming platform. This marks a novel direction for the company, which previously only developed games for other businesses. As this is the new business, whether it will be successful or not we have to see. 6. The company is led by experienced executives. CEO Mr. Bharat Shamjibhai Patel, an Electronics and Communications graduate from Gujarat University, has contributed to research at notable institutions like the Bhabha Atomic Research Centre. Meanwhile, Mr. Chirag Rajendrakumar Leuva, the Executive Director and CEO since September 01, 2022, holds a Masters in Computer Science from Nirma University and has over 12 years of industry experience. 7. The revenue has grown from 12 Cr in Fy21 to 27 Cr in Fy23, showing a staggering 45% CAGR Growth. 8. The PAT has increased from 82 lakh in Fy21 to 2.75 Cr in Fy23. 9. The proposed valuation is significantly high, with an asking P/E ratio of 62x. There are more attractive companies and opportunities present in the secondary market. However, given the current robust state of the SME IPO market, there's potential for listing gains in nearly all IPOs, regardless of company details or valuation.

Yudiz Solutions Limited 13th Floor, Bsquare 2, Iscon-Ambli Road, Ahmedabad, Gujarat- 380054, India Phone: +91 7433977526 Email: secretarial@yudiz.com Website: https://www.yudiz.com/