Submission Details
• Date of notice: June 7, 2024
• Earnings call date: June 5, 2024
• Participants:
• Chetankumar Timbadia (Managing Director)
• Devendra Sayani (Whole-Time Director)
• Piyush Shah (CFO)
Financial Performance
• Q4 FY24 Revenue: Rs. 154.59 crores (60.74% YoY increase)
• Full-Year Revenue: Rs. 459.63 crores (27.81% increase)
• Recognition: Listed among top 500 fastest-growing companies in Asia Pacific by Financial Times.
Strategic Focus
• Margin Improvement:
• Achieved through product mix optimization, service bundling, and operational efficiency.
• Expected margin increase to over 3% in the next couple of years.
• Growth Target: Year-on-year growth of 15% to 20% over the next 2-3 years.
• Promoter Stake: No plans for further dilution; promoters committed to maintaining their stake.
Business Segments
• Key segments: Traditional networking, unified communication, enterprise security.
• Focus on data center solutions, contributing around 25% of business.
Working Capital and Revenue Dependency
• Increased working capital cycle attributed to larger project sizes post-COVID.
• Top revenue contributors: Samsung, Netgear, NETSCOUT/Arbor.
Order Execution and Sales Funnel
• Short order execution cycle (typically within a month).
• Current sales funnel valued at Rs. 40-50 crores.
Competitive Edge
• Unique customer service approach and flexibility compared to larger competitors.
• No direct listed competitors; competition mainly from non-listed private players.
Revenue Potential and Customer Contributions
• Interactive panels expected to contribute Rs. 30-50 crores this year.
• Top 15 customers account for 40-50% of business, including Tata Communication Limited and Hitachi.
Revenue Breakdown
• Revenue Composition: 80% hardware, 20% software services.
• Business segments: Networking (45%), Unified Communication (25-30%), Enterprise Security (25%).
Employee Composition and Development
• Team of over 70, including sales, support, engineering, and administrative roles.
• Focus on deploying and configuring existing products rather than in-house software development.
Future Plans
• Regional expansion into Southern India and potential overseas markets.
• Optimism about maintaining growth levels in security software and services.
Conclusion
• The call concluded with appreciation for team and participant contributions.

Conference Call Overview
• Date: May 10, 2023
• Participants:
• Chetankumar Timbadia (Managing Director)
• Devendra Sayani (Whole-Time Director)
• Piyush Shah (CFO)
• Submission to: National Stock Exchange of India and BSE Limited on May 15, 2023
Financial Performance
• Q4 FY23 Results:
• Revenue: INR 96.17 crores (26.19% YoY increase)
• EBITDA: INR 3.78 crores (76.01% increase, margin at 3.93%)
• Full Year FY23 Results:
• Revenue: INR 359.63 crores (54.67% increase)
• Net Profit: INR 7.08 crores (up from INR 4.00 crores in FY22)
Expansion and Partnerships
• New branch opened in Surat.
• Partnerships with notable clients and brands.
Financial Strategies
• Borrowing:
• Long-term borrowings for term loans; short-term for working capital.
• Operating Margins:
• Current margins under 5%, with potential improvement as product mix shifts to higher-margin solutions.
Product Segmentation
• Revenue Breakdown for FY23:
• Networking: INR 168-170 crores
• Unified Communications: INR 100 crores
• Security and Software: INR 70 crores
• EBITDA Margins:
• Security: 12-13%
• Unified Communications: 6%
• Networking: 4-5%
Working Capital and Cash Flow
• Current working capital cycle: 70-73 days.
• Focus on improving collection efficiency and reducing stock levels.
Future Growth Targets
• Revenue target: INR 1,000 crores by FY '26.
• Anticipated double-digit EBITDA margins by FY '26.
• Emphasis on higher-margin products in unified communications and security.
Market Opportunities
• Potential growth from 5G technology and increased data adoption.
• Targeting INR 500 crores in revenue for FY '24.
• Plans for future overseas expansion.
Shareholder Returns
• Future intention to share profits through dividends, with current focus on reinvestment for growth.