Institutional Alpha Dossier
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MAINBOARD
SYNCING
GMP: ₹-
Est. Listing: Calculating...
01
Bidding Opens
-
Issue Open
02
Bidding Closes
-
Closing Date
03
Basis of Allotment
-
Registrar Finalization
04
Exchange Listing
-
Secondary Debut
Issue Price Valuation
₹-
Upper Cap Price
Price Band Cap:
Book Built / Fixed
Lot Size & Retail Matrix
- Shares
Minimum Market Lot
Min Capital:
₹-
Application Size:
-
Quant Grade & Moat Score
Proprietary Multi-Factor Moat Model
Synthesizing institutional thesis...
💼 MINIMUM INVESTMENT
Capital Matrix
Retail (Min Lot)
Up to ₹2 Lakhs Category
₹14950
HNI (Min Lot)
sNII / High Net-Worth Tier
₹209300
HNI Capital Multiple:
Institutional Lot Sizing
🍩 RESERVATION QUOTA (%)
Issue Allocation
100%
Total Issue
Anchor
30%
Market Maker
0%
QIB
20%
NII / HNI
15%
Retail
35%
Institutional Corporate Dossier
SRIT India
COMPANY PROFILE & DNA
Incorporation / Founded
9/9/1999
Active Vintage
Corporate Headquarters
Bengaluru, Karnataka
Registered Hub
👔 Leadership & Promoter Group
Key Management
Dr. Nambiar Raghavan Madhusoodan, Prasaktha Vakkiyl Nambiar, Martin Poovakkulam Chacko
⚙️ Business Overview & Portfolio
Core Offerings
SRIT India Limited is an IT/ITeS solutions company providing digital solutions and automation services for government and private enterprises.
🎯 Target Market & End-Use
Revenue Drivers
Funding capital expenditure, working capital, and inorganic growth initiatives.
🛡️
★ Unique Selling Proposition (Core Economic Moat)
Established track record with end-to-end product solutions and integration capabilities.
Objects of the Issue (Use of Proceeds & Allocation)
🎯 Objective 01
Funding capital expenditure for modernization
₹ 12.86
Allocation
🎯 Objective 02
Funding working capital requirements
₹ 124.00
Allocation
🎯 Objective 03
Achieving inorganic growth and strategic initiatives
Balance
Allocation
🎯 Objective 04
Enhancement of visibility and brand image
Not Mentioned
Allocation
Financial Performance & Multi-Year Trajectory
All Figures in ₹ Crores
Latest Total Income📊
₹-
Top-Line
EBITDA Margin⚡
-%
Operating
Net Profit (PAT) Margin📈
-%
Bottom-Line
Debt / Net Worth🛡️
-x
Leverage
📊 Income, EBITDA & Profit Growth Trajectory
Income
EBITDA
PAT Trend
🏛️ Balance Sheet: Net Worth vs Debt
Net Worth
Borrowing
| Particulars | FY23 | FY26 | FY25 | FY24 |
|---|---|---|---|---|
| Total Income | 0.00 | 449.99 | 389.35 | 271.09 |
| EBITDA | 0.00 | 64.77 | 49.81 | 40.98 |
| Profit After Tax (PAT) | 0.00 | 43.29 | 33.60 | 29.08 |
| Net Worth | 0.00 | 193.27 | 93.17 | 80.47 |
| Total Borrowing | 0.00 | 44.81 | 61.84 | 24.83 |
Growth Engine & Compounding Velocity (KPIs)
Multi-Year Trajectory
449.99
₹ Cr
YoY Growth
0.1558
3-Year CAGR
0.2884
64.77
₹ Cr
YoY Growth
0.3004
3-Year CAGR
0.2572
43.29
₹ Cr
YoY Growth
0.2882
3-Year CAGR
0.2202
Capital Efficiency & Return Ratios (ROE vs ROCE)
Capital Allocation Audit
◈ ROE (Return on Equity)
Calculating...
-%
Current ROE
◈ ROCE (Capital Employed)
Calculating...
-%
Current ROCE
| MetricMetric | Current (%)Curr% | Last Year (%)Last% | 3-Yr Avg (%)3Y Avg | Trend StatusTrend |
|---|---|---|---|---|
| ROE (Return on Equity)ROE | 0.224 | 0.3607 | 0.3153 | Fluctuating |
| ROCE (Capital Employed)ROCE | 0.2721 | 0.3213 | 0.3275 | Fluctuating |
Forensic Analysis & Reality Check
Earnings Quality & Dilution Audit
-0.19
CFO / EBITDA
Cash Flow Conversion Efficiency
Checking...
Analyzing operating cash flow conversion...
| Parameter | Pre-IPO | Post-IPO | View |
|---|---|---|---|
| Debt / Equity | 0.23 | 0 | Low |
| EPS (₹) | ₹ 6.73 | ₹ 5.55 | Diluting |
| ROE (%) | 0.224 | 0.2147 | Good |
| ROCE (%) | 0.2721 | 0.3212 | Good |
| P/E (Valuation) | 19.31x | 23.44x | Reasonable |
⏳ Debtor Days Trend (Receivables Cycle)
Analyzing...
FY24
FY25
FY26
Lower receivable days indicate faster cash collection from clients.
⚠️ Contingent Liabilities
Off-Balance Sheet
₹ 80.18 Cr
*Potential hidden obligations & legal/tax claims
Peer Comparison Analysis & Competitive Matrix
Industry Benchmarking
| Company NameComp | Revenue (Cr)Rev | P/E RatioP/E | ROCE (%)ROCE | ROE (%)ROE | OPM (%)OPM |
|---|---|---|---|---|---|
| SRIT India IPO CANDIDATE | 449.99 | 23.44 (Ask) | 0.2721 | 21.47% (Post Issue) | 0.1439 |
| Mastek Limited | ₹ 3698.75 Cr | 12.59 | 0.1613 | 0.1481 | 0.1502 |
| Railtel Corporation of India Limited | ₹ 4277.48 Cr | 24.03 | 0.2036 | 0.1625 | 0.1431 |
| Protean eGov Technologies Limited | ₹ 997.75 Cr | 19.8 | 0.1175 | 0.0969 | 0.1111 |
| Allied Digital Services Limited | ₹ 967.91 Cr | 15.52 | 0.0686 | 0.0474 | 0.0567 |
| Aurionpro Solutions Limited | ₹ 1411.085 Cr | 18.62 | 0.1475 | 0.1292 | 0.1958 |
▲ Positive Catalysts (Strengths + Opportunities):
8 Factors
▼ Risk Vectors (Weaknesses + Threats):
8 Factors
Strengths
Internal Competitive Moat
- Established track record with end-to-end product solution and integration capabilities.
- Diverse Order Book across offerings for multiple clients & geographies.
- Extensive geographic footprint with scalable operations across key markets.
- Strong financial performance and healthy balance sheet.
Weaknesses
Internal Operational Constraints
- Majority of projects awarded through competitive bidding process, dependent on government tenders.
- Significant portion of revenue from top ten customers, high client concentration risk.
- Reliance on third parties (contractors, sub-contractors) for project completion.
- High working capital requirements and potential liquidity crunch.
Opportunities
External Growth Tailwinds
- Digital transformation demand in public and private sectors.
- Growth of AI and automation in IT-BPM industry.
- Expansion of SaaS and platform-based models.
- Skilled workforce and talent availability in India.
Threats & Risks
External Macro & Sector Headwinds
- Online security breaches or cyberattacks.
- Actual project costs and timelines may differ significantly from bid assumptions.
- Emergence of new and advanced technologies rendering existing solutions obsolete.
- Use of open-source software may expose to increased costs, legal risks, or operational challenges.
Top 10 Anchor Investors & Smart-Money Allocation
INSTITUTIONAL BOOK
Top 10 Anchor Commitment
₹- Cr
Smart-Money Quality Score
- / 5.0 ★
Marquee Conviction
SEBI Anchor Lock-In Schedule
30D (50%) • 90D (50%)
Mandatory Lock-In
Anchor Book Allocation Pending Exchange Filing
Institutional anchor investor bidding & allocation disclosures are officially filed with NSE/BSE 1 working day prior to the IPO opening date.
| Rank | Marquee Anchor Institution | Smart-Money Grade | Amount Invested | Anchor Share (%) |
|---|
148
The company benefits from high client stickiness, market leadership in a niche, and an expanding EBITDA margin, but faces challenges from high client concentration and working capital requirements.
30
0
QIB Quota
Qualified Institutional Buyers
Smart Money
-x
Institutional Book
Inst. Conviction:
Evaluating
NII / HNI Quota
sNII (₹2L-10L) & bNII (₹10L+)
HNI Desk
-x
Non-Institutional
HNI Competition Ratio:
-
Retail (RII) Quota
Individual Investors (Up to ₹2L)
SEBI Lottery
-x
Retail Book
Retail Allotment Odds:
-