Founded in 2019 with a Delivery Centre in Mumbai, Maharashtra, the company expanded with a second centre in Vikroli, Mumbai. Enfuse Solutions Ltd generates its revenue from both domestic and international operations, majorly from service exports to countries including the USA, Ireland, the Netherlands, and Canada.
Enfuse Solutions Ltd specialises in delivering comprehensive digital solutions across a variety of domains, including
- Data Management & Analytics,
- E-commerce & Digital Services,
- Machine Learning & Artificial Intelligence, and
- Edtech & Technology Solutions.
Enfuse Solutions Ltd serves a wide range of clients, from startups to established blue-chip companies across sectors like Technology, BFSI, Retail, FinTech, and more. Recently, it secured a project worth ₹64.53 Crores from Maharashtra's Commissioner for Co-operation & Registrar of Cooperative Societies to implement a computerisation project for Primary Agricultural Credit Societies (PACS), covering software operationalisation, data digitisation, testing, support centers, and compliance reporting.
Industry Outlook
- In fiscal year 2023, India's IT export earnings experienced a growth of approximately 9% in constant currency, reaching a total of around US$ 194 billion.
- Over half of these exports, specifically more than 53%, were attributed to IT services, marking them as the primary source of IT export revenue, inclusive of hardware.
- Additionally, the exports in the Business Process Management (BPM) sector, along with engineering, research and development (ER&D), and software products, constituted 22% and 25% of the overall IT exports, respectively, during the same fiscal year.
Enfuse Solutions Limited IPO Details
Enfuse Solutions Limited IPO Dates
The IPO of Enfuse Solutions Limited is open for subscription from March 15, 2024, to March 19, 2024.
Enfuse Solutions Limited IPO's Price Band
Enfuse Solutions Limited’s IPO is a fresh issue IPO of up to ₹22.44 crore. It is a book-building issue. The price range is set to ₹91 to ₹96 per share.
Enfuse Solutions Limited IPO's Lot Size
The lot size for Enfuse Solutions Limited’s IPO is 1,200 shares with a minimum investment of ₹1,15,200.
Enfuse Solutions Limited IPO's Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Enfuse Solutions Ltd intends to use ₹383.93 lakhs from the IPO proceeds for the repayment of particular debts the company has incurred.
- An allocation of ₹1,050.00 lakhs from the IPO funds is earmarked by Enfuse Solutions Ltd for bolstering its working capital, ensuring smooth business operations.
- General Corporate Purposes.
Peer Details
As per RHP, the listed peer whose business portfolio is comparable to the Enfuse Solutions are as follows:
- Insolation Energy Limited,
- eClerx Services Limited,
- Systango Technologies Limited
How To Check the Allotment Status of Enfuse Solutions Limited’s IPO?
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- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
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Contact Details of Enfuse Solutions Limited
Registered office: A/1503, Bonaventure Building No.5, Rangnath Kesar Road, Dahisar West, Mumbai 400068, Maharashtra, India.
Contact Person: Shubhra Maheshwari (Company Secretary and Compliance Officer)
Phone: +91-22-28118383
E-mail: cs@enfuse-solutions.com
IPO Financials
| Particulars | For the period Ended on December 31, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Income (in ₹ lakh) | 2,805.28 | 2,610.42 | 2,556.64 |
| EBITDA Margin (%) | 18.96% | 19.05% | 12.65% |
| Profit After Tax (PAT) (in ₹ lakh) | 322.50 | 292.73 | 198.11 |
| PAT Margin (%) | 11.51% | 11.22% | 7.76% |
| Cash & Cash Equivalents (in ₹ lakh) | 191.34 | 13.48 | 24.90 |
| Debt to Equity Ratio(x) | 0.93 | 0.37 | 0.66 |
| Return on Equity (%) | 39.88% | 58.42% | 77.49% |
| Return on Capital Employed (RoCE) (%) | 24.05% | 46.61% | 46.71% |
| Earning Per Share (EPS)-in absolute ₹ | 4.95 | 4.50 | 3.04 |
Know before investing
Strengths
4Enfuse Solutions Limited boasts a broad international market reach, with a significant portion of its revenue coming from exports, enhancing its global client base and technological adaptability.
The company serves a wide array of industries, including Technology, BFSI, Retail, and more, through subcontracting agreements, catering to both startups and established enterprises.
Enfuse Solutions offers diverse services like Data Management, E-commerce, Machine Learning, and Edtech, leveraging new technologies for business growth and improved client outcomes.
Risks
4Enfuse Solutions Limited heavily relies on a few key customers, with the top three contributing up to 99.93% of revenue, posing a significant risk if these relationships end.
Rapid technological shifts in the IT sector demand Enfuse Solutions Limited to continuously innovate and update services, failing which could jeopardise its competitive edge.
The company's success hinges on securing and keeping highly skilled professionals in a competitive industry, essential for project execution and new client acquisition.
Despite thorough testing, Enfuse Solutions Limited's services might contain errors, potentially harming its reputation, incurring high correction costs, delaying revenue, and leading to legal challenges.
